The Securities and Exchange Commission yesterday announced the institution and simultaneous settlement of an enforcement action against Morgan Stanley DW Inc. (Morgan Stanley) for failing to provide customers important information relating to their purchases of mutual fund shares. As part
AXA Investment Managers Inc. has chosen Bank of New York to provide it with the full range of outsourcing services for its US Investment Grade Team catering to institutional investors. AXA IM is part of the global AXA Group, which
Citibank has become the first fund distributor to go live with SWIFT mutual fund message types in Asia. The giant American bank, which is a major distributor of mutual funds in Asian markets, says it has begun automating its mutual
BISYS says it has won a mutual fund outsourcing mandate from New Covenant Funds, which are sponsored by the Presbyterian Foundatio. BISYS will support five funds with more than 10,500 investor accounts and more than $1.3 billion in assets, with
ISIS Asset Management, a UK fund manager, has reached a preliminary agreement with JP Morgan to outsource a number of its operational functions. The main aim, says ISIS, is to build an operational platform that is scaleable to support its
RBC Global Services says that CI Mutual Funds Inc. has selected the bank as exclusive outsourcing provider for its recently acquired Skylon Capital Corp. and Synergy Mutual Funds operations, with total assets under administration valued at $2.2 billion. RBC says
Investec Asset Management has become the latest fund management company to sign up to use the UK mutual fund messaging and order routing platform, EMX Message System. "We are delighted to welcome Investec on board the EMX Message System as
BISYS, a provider of business process outsourcing solutions for the financial services sector, reported the results of its fiscal first quarter, which ended September 30, 2003. For the fiscal first quarter, BISYS reported net income of $4.8 million or $0.04
Richard Strong yesterday resigned as chairman of Strong Mutual Funds, a few days after New York attorney general Elliot Spitzer threatened to charge him with improper trading. Strong will retain day to day control over its parent company, Strong Capital