The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:U.S. Bancorp Unveils its Fourth Mutual Fund Series Trust Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, July 21, 2011

U.S. Bancorp Unveils its Fourth Mutual Fund Series Trust

Reported by Armie Margaret Lee

U.S. Bancorp Fund Services has taken the wraps off its fourth multiple series trust. Called Managed Portfolio Series, the trust launched on May 26 with three funds and $71 million in assets.

The Milwaukee-based fund service provider counts a total of $12.58 billion in mutual fund assets, 103 funds, 145 classes and 56 investment advisers across its four shared trusts.

Bob Kern, executive vice president at U.S. Bancorp Fund Services, told The MFWire.com in an interview that the creation of the new trust was driven by demand.

"This year, we've added 25 funds from 17 managers across all of our four shared trusts," Kern said.

As for the latest shared trust, which currently has three funds, "we're working on a fourth fund right now," Kern said, adding that there are several other managers looking to launch funds by yearend.

U.S. Bancorp Fund Services continues to add funds to the other three trusts as well.

The firm launched its first series trust in 1992.
Company Press Release


Leader in Multiple Series Trust model offers a new option for investment advisers

MILWAUKEE (July 21, 2011) — U.S. Bancorp Fund Services, LLC launched its fourth Multiple Series Trust (MST) for investment management firms to support their mutual fund products. The fourth MST was effective as of May 26, 2011. The newest trust, called Managed Portfolio Series (MPS), continues U.S. Bancorp Fund Services' tradition and growth in the shared trust market.

"We are excited to be able to expand our MST offering and provide our clients with the highest level of products and services necessary for them to be successful in this competitive landscape. Our culture and work ethic drive us to deliver what it takes to support each individual client from start-ups to mature fund families," said Joe Redwine, president of U.S. Bancorp Fund Services. "This latest MST continues to showcase our ability to provide best-in-class services to a wide variety of asset managers."

U.S. Bancorp Fund Services' four shared trusts have $12.585 billion in mutual fund assets, 103 participating funds, 145 classes, and 56 different advisers, positioning them as a leader and expert in offering shared trusts. U.S. Bancorp Fund Services is among the first providers to offer shared trusts, and since 1992, have grown to offer four separate shared trusts. "With extensive experience in the multiple series trusts market and more than 40 years of mutual fund expertise, we have been able to offer our clients solutions for successfully growing their portfolios in today's complex mutual fund environment. We expect this fourth MST to follow the tradition of growth set by our other series trusts," said Jim Arnold, senior vice president, fund administration for U.S. Bancorp Fund Services and president of the MPS trust. MPS launched with three funds and $71 million in assets, with others funds working to begin the registration process.

As part of the company's MST family, the MPS trust dedicates a primary point of contact to carry out clients’ service plans and ensure a seamless service implementation for new launches, or conversion for more mature funds. All MSTs at U.S. Bancorp Fund Services include a dedicated Chief Compliance Officer (CCO) who acts as a daily resource to the advisers’ CCOs and provides assessment, guidance, and consulting regarding the adviser’s responsibility for compliance in a mutual fund environment. The model also includes a combination of in-house and external legal and tax talent to give clients the ability to introduce products to market quickly and economically. Expert mutual fund board members act in a governance capacity and provide clients with sophisticated insight into the market, investment industry and regulatory issues.

"All of our MST's allow advisers to capitalize on the strength of their investment strategies and stay focused on raising and managing assets while leveraging an incredibly efficient, cost-effective, and compliance-centric back office structure," said Angie Pingel, vice president and counsel for U.S. Bancorp Fund Services and secretary of the MPS trust responsible for its legal services. "Our goal is to ensure clients are provided an operational structure with customized services, financial reporting, and complete support and industry guidance."

About U.S. Bancorp Fund Services, LLC

Headquartered in Milwaukee since 1969, U.S. Bancorp Fund Services, LLC currently provides services to more than 296 fund families with 1,718 portfolios and 1,967 fund classes with $471 billion in client assets. U.S. Bancorp Fund Services' clients include mutual funds, investment partnerships, hedge funds, separately managed accounts, fund-of-funds, and offshore funds. Visit U.S. Bancorp Fund Services at www.usbfs.com.

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use