, look out. ALPS Fund Services
, a subsidiary of DST, has won eight new fund-servicing clients in 2012, the company announced by press release
What's more, the Denver-based servicer now has its own fund trust. The ALPS Series Trust
was born in an SEC filing
on September 17. The Cognios Market Neutral Large Cap Fund
, managed by Cognios Capital
, is the first fund that has been added
as part of the trust.
ALPS president Jeremy May
that the fund servicer's continuing growth reflects the strength of its services.
"There are a lot of opportunities in the market," he said. "There are many good, solid advisors looking to get into the mutual fund industry, who can really benefit from the expertise of our fund trust and our board."
The press release does not name the seven new clients who, along with Cognios, have joined the ALPS roster, but said that they comprised four new start-ups and three existing fund families. May said that most of these eight new clients are turnkey relationships, though ALPS also offers separate administrative and distribution services.
Cognios is a hedge fund shop whose Market Neutral Large Cap Fund is its first foray into '40 Act funds. So far it's the lone fund on the ALPS Series Trust, but May says that "there are plenty of others that we're taling with and working with."
"We're continuing to see a lot of interest from advisors who have lots of strong, unique ideas and want to get into '40 Act funds," said May.
The ALPS press release is below.
Company Press Release
ALPS Demonstrates Continued Leadership and Growth
ALPS, a DST Company (ALPS), a leading provider of asset servicing to the investment management industry, is continuing its pattern of growth and leadership in the investment company industry.
To date in 2012, ALPS has brought on eight new mutual fund servicing clients, comprised of five new start-up mutual funds and three existing fund families. To further accommodate the increased growth of start-up mutual funds, ALPS is launching the new ALPS Series Trust, providing Advisers with a solution for bringing open-end mutual funds to market in an efficient and cost-effective manner.
“ALPS will continue to be the go-to solution for funds looking for high touch turn-key services,” says Ned Burke, Chief Executive officer at ALPS.
In addition, the recently released results of Global Custodian’s 2012 Mutual Fund Administration Survey ranked ALPS as the #1 Global Service Provider. ALPS was also ranked first or second in 11 of the 12 eligible categories in Global Custodian’s survey and received a ‘Best in Class’ rating that covered the following eight service areas: Client Service and Relationship Management, Value, Fund Accounting and Valuations, Transfer Agency, Distribution Support, Portfolio Servicing, Fund Reporting and Compliance.
Jeremy May, President of ALPS Fund Services, says the organization is “thriving” and is pleased with the continued dedication and enthusiasm of ALPS’ employees. “The Global Custodian survey aptly highlights our strengths and reinforces the reasons clients choose to do business with ALPS. I am extremely proud of our employees for their contribution to our top rankings in the Global Custodian survey. We will finish 2012 strong and look forward to continued growth in 2013,” he went on to state.
A wholly owned subsidiary of DST Systems, Inc., headquartered in Denver with offices in Boston, New York, Seattle, and Toronto, ALPS is a 27-year-old financial services firm focused on asset servicing and asset gathering. With more than 400 employees, over 200 clients, and an executive team that has been in place for over 18 years, ALPS continues to actively promote all of its various business segments, from asset servicing through ALPS Fund Services, Inc. to asset gathering through ALPS Distributors, Inc. and ALPS Advisors, Inc. As of June 30, 2012, the firm managed more than $6.6 billion in assets and provided servicing to more than $338 billion in client assets. For more information about ALPS and the services available, visit www.alpsinc.com, and for additional information about ALPS products, visit www.alpsfunds.com.
About DST Systems, Inc.
DST Systems, Inc. provides sophisticated information processing solutions and services to support the global asset management, insurance, retirement, brokerage, and healthcare industries. In addition to technology products and services, DST also provides integrated print and electronic statement and billing solutions through DST Output. DST's world-class data centers provide technology infrastructure support for asset management, insurance and healthcare companies around the globe. Headquartered in Kansas City, MO., DST is a publicly traded company on the New York Stock Exchange.
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