U.S. Bank is about to add a five-star fund as a custody client. On Tuesday Pekin Singer Strauss Asset Management's [see profile] $187-million Appleseed Fund revealed that on July 15 it will switch custodians from Huntington National Bank to U.S. Bank [see filing].

MFWire.com could not immediately reach a Huntington spokesperson for comment for this story. A U.S. Bank spokesperson was not immediately able to comment.

Josh Strauss, partner and PM at Pekin Singer Strauss, confirmed that Huntington will continue to handle administration and fund accounting for Appleseed. The move, he said, stems from a shift in the mid-cap value fund's holdings.

"It's a reflection of the fund's increasing international exposure," Strauss told MFWire.com.

The fund's board of director also named Robert Silva as the fund's new chief financial officer and treasurer, effective June 13. Silva serves as vice president of fund administration at Huntingon. 

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