PFPC says that Van Wagoner Funds have expanded their fund administration contract with the company. Under the terms of the enlarged contract, PFPC will now provide fund accounting and administration, custody and regulatory administration services for Van Wagoner Funds, in addition to transfer agency services.
Founded in 1995 by Garret R. Van Wagoner and headquartered in San Francisco, Van Wagoner offer three mutual funds that focus on growth investment in different market capitalization ranges. In an effort to reduce overall shareholder expenses, Van Wagoner Funds recently restructured its fund offerings including the launching of a new fund, the Van Wagoner Growth Opportunities Fund, that is part of the PFPC servicing agreement. This agreement continues a relationship between PFPC and Van Wagoner Funds that began in December 2000.
“Van Wagoner Funds and PFPC share a dedication to meeting the needs of shareholders,” says Peter Kris, vice president and managing director, Van Wagoner Capital Management, manager of the Van Wagoner Funds. “Now, in addition to offering a broad range of services, we look forward to a streamlined servicing arrangement that we believe will generate savings for shareholders.”
“We are pleased that Van Wagoner Funds has cast this vote of confidence for PFPC’s comprehensive range of technology and expertise in mutual fund servicing,” adds Michael DeNofrio, executive vice president and senior managing director, PFPC transfer agency. “By linking shareholder servicing, fund accounting, custody, trade settlement, safekeeping, securities processing and regulatory administration services under one roof, Van Wagoner Funds can help to optimize its operations and develop efficiencies that strengthen its position in a highly competitive marketplace.”
PFPC says it is investing heavily in its Global Enterprise Platform. PFPC recently introduced a new open technology strategy embracing this single platform designed to provide the flexibility, scalability and efficiency that will enable clients to integrate PFPC’s products and services.