Fund Administration

Moody's Downgrades Royal & Sun Alliance

Moody's Investors Service today downgraded the ratings of Royal & Sun Alliance Insurance Group (RSA) and subsidiaries. The Insurance Financial Strength Rating (IFSR) of Royal & Sun Alliance Insurance Plc was downgraded by one notch to Baa1 from A3 and

FTSE And Amex Form Joint Venture To Hunt ETF Sponsors

FTSE Group has reached an agreement with the American Stock Exchange (Amex)to promote the creation of ETFs for the U.S. marketplace. FTSE and Amex ETF Services, which provides turnkey solutions to ETF issuers, sponsors and service providers, will work together

Eurex Launches Futures And Options On ETFs

Eurex will start trading in options and futures on ETFs on November 18. The segment at Eurex will be operated under the name EXTF. Eurex, which made the announcement in Chicago today, is the first exchangeto offer futures and options

Liberata Wins Barclays-Woolwich Outsourcing Contract

Liberata, the UK based specialists in back office outsourcing life offices and pension plans, has entered into an "evergreen" contract to service life policies of customers of Barclays Life and its subsidiary, Woolwich Life. The contract, with an approximate value

Merrill Lynch Cuts ETF Management Fees

Merrill Lynch International today announced that the management fees for its Euro STOXX 50 and STOXX 50 LDRS will be cut from 0.50% to 0.35% with immediate effect. The fee cut aims to affirm Merrill Lynch as a market leader

Schwab Is First Client For SEI Mutual Fund STP Solution

SEI Investments has announced it will offer a straight through mutual fund processing solution. SEI intends to offer the solution on an outsourced basis to national, regional and community banks independent trust companies investment advisors broker dealers, and investment managers

BBH: The Out-Sourcer Out-Sources

Brown Brothers Harriman will outsource online enrollment and employee benefits administration services for its 3,100 workers to Black Mountain Group. Specific terms of the agreement have not been disclosed, but two BBH staff members have been added to Black Mountain's

BNY To Administer FITRS Family Of ETFs

The Bank of New York announced today that it has been named as service provider for the ETF Advisors family of fixed income exchange traded funds whose Fixed Income Trust Receipts (FITRS) trade on the American Stock Exchange. With the

BISYS Expands Relationship With Bear Stearns

BISYS announced today that Bear Stearns Asset Management has expanded its outsourcing relationship with the company. BISYS's Single Source 401(k)TM platform was selected to support Bear Stearns' 401(k) sales. It provides plan administration, daily valuation and recordkeeping services, employee communications,