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Friday, November 14, 2003|
BISYS Signs On To Administer Fund Family
New Covenant Funds has outsourced adminstration and marketing of the fund to BISYS.
BISYS will support the five funds, which include 10,500 investor accounts and more than $1.3 billion in assets with administration and accounting services, transfer agency services, legal, regulatory and compliance services and marketing and distribution services. The Presbyterian Foundation has managed the funds for more than 20 years.
BISYS also will support the New Covenant Fundsí distribution strategy with market analysis, research and consulting servicesthrough its Financial Research Corporation (FRC) subsidiary.
The Presbyterian Foundation is one of the largest church-affiliated foundations in the U.S. New Covenant Trust Company, N.A. is its subsidiary. Together, these two entities are responsible for the management assets of the Presbyterian Church (U.S.A.), its agencies, institutions, and other charitable institutions.
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