he F&C/Claymore Preferred Securities Income Fund
recently selected PFPC
for fund accounting and administration services. In addition, PFPC was tapped to provide custody and transfer agency services for the newly organized, diversified closed-end fund.
Flaherty & Crumrine is advisor to the approximately $1.6 billion Fund, while Claymore Securities serves as the Fund's shareholder service agent.
PFPC is providing financial accounting and recordkeeping, pricing and corporate actions, financial and regulatory reporting, tax services, compliance monitoring and Blue Sky compliance. On the transfer agency side, the firm is providing call center, quality assurance, transaction processing and work management, print mail and proxy and fulfillment services.
"PFPC is excited to add a new dimension to our 12-year relationship with Flaherty & Crumrine, one of the nation's premier managers of preferred securities," said Stephen M. Wynne
, chief operating officer, PFPC, in a prepared release.
Pasadena-based Flaherty & Crumrine manages some $2.5 billion in preferred and related securities. Wheaton, Illinois-based Claymore Securities offers investment solutions for financial advisors and their clients. It provides supervision, management or servicing on more than $3.2 billion in assets through closed-end funds, defined portfolios and separately managed accounts.
PFPC reports to be the nation's largest full-service mutual fund transfer agent and second largest provider of mutual fund accounting and administrative services.
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