American Century Investments [see profile] has hired State Street Bank & Trust Company as its sub-administrator and custodian. J.P. Morgan Investor Services Co was the previous sub-administator and J.P. Morgan Chase Bank previously handled custody services.

The sub-administration contract covers "certain fund accounting, fund financial reporting, tax and treasury/tax compliance services for the funds, including striking the daily net asset value for each fund," according to American Century's SEC filing on Friday.

Representatives for American Century and State Street were not immediately able to provide comment. A JPMorgan spokesperson declined to comment for this story.

American Century's SEC filing on the vendor change comes two weeks after the Kansas City-based mutual fund firm announced that Canadian firm CIBC is acquiring the 41 percent stake in American Century currently held by JPMorgan Chase. 

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