Trusco Capital Management
, Inc. selected BISYS
to service and support the STI Classic
family of mutual funds, 52 funds with approximately $26 billion in assets under administration.
BISYS will provide fund accounting; financial administration; transfer agency services; legal, compliance and regulatory support and distribution services for the funds. The distribution services are provided by the stand-alone company
, executive vice president of business development for BISYS Investment Services
, told The MFWire that the Trusco had an existing relationship with Financial Research Corporation
, BISYS' Boston-based product and distribution research firm. Evans added that Trusco "really liked a few things we surrounded the core offering with," especially the legal, regulatory and compliance services.
The assets under administration on this deal dwarf those in the last two deals BISYS signed. In March 2004 Capstone Asset Management
, with $290 million in assets under administration, selected BISYS for comprehensive mutual fund services. New Covenant Funds
, with $1.3 billion in assets, hired BISYS in November 2003.
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