MFS outsources custody and fund accounting to JPMorgan
JPMorgan Worldwide Securities Services, a leading global provider of fund services, today announced that MFS Investment Management has selected the firm to provide custody, fund accounting and securities lending services for a portion of its assets under management.
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The services will be provided by JPMorgan's Boston-based Fund Services unit, which is part of the firm's global integrated fund accounting platform with locations in the US, Europe and Asia.
"We are delighted to be working with MFS, a firm that prides itself on leadership and innovation," said Michael Clark, head of JPMorgan Worldwide Securities Services. "JPMorgan Fund Services will take care of their back office needs, so MFS can concentrate on what they do best - bringing value to their advisors and fund shareholders."
JPMorgan Worldwide Securities Services offers a suite of services that allows investment managers to outsource their operational and administrative infrastructure.