Needham and Company chooses Bisys for mutual fund services

Source: Bisys

BISYS, a leading provider of outsourcing solutions for the financial services sector, today announced it has been selected by New York City based Needham & Company, LLC to provide a full suite of mutual fund services.

Needham & Company, LLC is a nationally recognized investment banking and asset management firm focusing on emerging growth industries and their investors. BISYS will support the Needham Growth Fund (NEEGX), the Needham Aggressive Growth Fund (NEAGX) and the Needham Small Cap Growth Fund (NESGX) with the following services: fund accounting; fund administration; transfer agency; legal, compliance, and regulatory support; and distribution services. BISYS Alternative Investment Services also supports a select group of Needham & Company's alternative investment products.

According to Glen Albanese, Managing Director and Chief Financial Officer of Needham & Company, LLC, "Based on their extensive range of services and industry expertise, BISYS was the partner of choice as our mutual fund services provider. We look forward to leveraging BISYS' knowledge and experience as we grow our mutual fund family."

Fred Naddaff, President of BISYS Fund Services, said, "We are confident that the quality of our service and the commitment of our associates will support Needham & Company's short and longterm business goals. We believe that their decision to outsource these vital capabilities and processes will prove beneficial by increasing efficiency and enabling Needham to focus on their critical business objectives."

George Evans, Executive Vice President of business development for BISYS Investment Services, added, "We welcome the opportunity to support the Needham Funds with our robust outsourcing platform and team of industry leaders. We are confident that our leading-edge technology and commitment to service will generate substantial benefits to Needham, and look forward to a successful long-term relationship."

Needham & Company, LLC is scheduled to convert to the BISYS servicing platform in June 2005.

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