BISYS says New York City based Needham & Company has appointed the firm to provide a full suite of mutual fund services.
“Based on their extensive range of services and industry expertise, BISYS was the partner of choice as our mutual fund services provider,” says Glen Albanese, Managing Director and Chief Financial Officer of Needham & Company. “We look forward to leveraging BISYS’s knowledge and experience as we grow our mutual fund family.”
Needham & Company is an investment banking and asset management firm focusing on emerging growth industries and their investors. BISYS will support the Needham Growth Fund (NEEGX), the Needham Aggressive Growth Fund (NEAGX) and the Needham Small Cap Growth Fund (NESGX) with the following services: fund accounting; fund administration; transfer agency; legal, compliance, and regulatory support; and distribution services. BISYS Alternative Investment Services will also support a select group of Needham & Company’s alternative investment products.
“We are confident that the quality of our service and the commitment of our associates will support Needham & Company’s short and long-term business goals,” says Fred Naddaff, President of BISYS Fund Services. “We believe that their decision to outsource these vital capabilities and processes will prove beneficial by increasing efficiency and enabling Needham to focus on their critical business objectives.”
George Evans, Executive Vice President of business development for BISYS Investment Services, says he is equally confident of generating “substantial benefits” for Needham.
Needham is scheduled to convert to the BISYS servicing platform in June 2005.