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
SEI Investments Company announced financial results for third quarter 2003, reporting an increase in revenues, a decrease in net income and an increase in earnings per share, compared to the corresponding period for the prior year. The report showed revenues
Fund managers INVESCO PERPETUAL have migrated their transfer agency business onto the Global Fund Administration System (GFAS) developed by Mutual Fund Technologies (MFT), the Fidelity owned supplier of fund administration and transfer agency platforms. This follows a decision at the
Coutts Bank (Switzerland) Limited, part of the Coutts Group, which is a wholly owned subsidiary of The Royal Bank of Scotland Group, has reached agreement with Bayerische Hypo und Vereinsbank AG (HVB) to acquire its private banking subsidiary, Bank von
Mercer Investment Consulting has been appointed to provide investment advice to the Shropshire County Pension Fund. Specific services will include advice on the selection of a fund of hedge fund manager and assistance with ongoing monitoring of the appointed manager.
Investment Company Institute Chairman Paul Haaga has urged pro tem NYSE Chairman John S. Reed "to secure representation for mutual funds on the board of the Exchange." Noting the NYSE's acknowledgment that "the investing public is the Exchange' s ultimate