Eight Simple Steps to Starting Your Own Mutual Family

Step Four: Hire a Transfer Agent

See Other Steps Step 1 Step 2 Step 3 Step 5 Step 6 Step 7 Step 8

The transfer agent tracks who owns the shares of the mutual fund. It also will perform other back-office operations for the mutual fund.

The MFWire has uncovered more than 130 Fund administration firms listed in regulatory filings as serving the 723 fund families currently in existence. The following are the 10 with the most clients:

U.S. Bancorp Fund Services, LLC

Mutual Shareholder Services LLC

Gemini Fund Services, LLC

BNY Mellon Investment Servicing/PNC Global Investment Servicing (U.S.) Inc.

Boston Financial Data Services Inc.

UMB Fund Services, Inc.

State Street Bank and Trust Company

Ultimus Fund Solutions, LLC

Huntington Asset Services (formerly Unified Fund Services, Inc.)

DST Systems

Editor's note: This article is part of The MFWire.com's eight-step primer for starting a mutual fund family.  

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