Bisys seals two fund support services deals

Source: Bisys

BISYS, a leading provider of outsourcing solutions for the financial services sector, today announced new relationships with fund complexes Arrivato Advisors, LLC (New York, NY) and Bjurman, Barry & Associates (Los Angeles, CA).

Both companies represent significant client wins for BISYS: for Arrivato, BISYS will provide services to support the launch of a new product to the US marketplace, whereas Bjurman, Barry, & Associates will utilize BISYS' full-service outsourcing offering including fund accounting, fund administration, transfer agency, distribution, legal, regulatory, and compliance services.

Fred Naddaff, president of BISYS Fund Services, said, "We are pleased to be selected as the mutual fund provider of choice by Bjurman, Barry & Associates. After careful scrutiny of our service model, depth of resources, technological support, and fee structure, the company committed to the total BISYS enterprise of fund solutions. We are also very excited about our association with Arrivato Advisors. This pioneering firm is introducing a new concept in life-cycle, indexed investing, and we look forward to contributing to the success of that initiative."

The Arrivato Dow Jones U.S. Target Date Funds are the first indexed, life-cycle funds specific to the U.S. market. BISYS will serve as sub-administrator to these portfolios, providing transfer agency, fund accounting and compliance services. The Arrivato series of five portfolios -2010, 2015, 2020, 2030, and 2040 are designed for investors who have date-specific savings goals such as affording retirement, college or other life events. Using the Dow Jones U.S. Target Date Indexes as benchmarks, the Arrivato funds are unique in that they adjust their asset allocations over time, moderating potential risks as the target goal date approaches. They are slated to be open to investors in the fourth quarter of 2005.

According to Eric Rubin, president of Arrivato Advisors, LLC, "Launching a series of new portfolios is a labor intense process. We chose BISYS to help us in this endeavor because they are among the industry's premier outsourcing providers. We can't afford to take chances with a firm that hasn't the expertise or resources that BISYS has."

In support of its $620 million fund portfolios, Bjurman, Barry & Associates will employ BISYS' comprehensive range of administrative support for its family of funds. G. Andrew Bjurman, president and chief executive officer of Bjurman, Barry & Associates, cited the client-centric service model among its primary reasons for selecting BISYS, "Accuracy, best practices and the efficiencies of our administrative services are key to the successful operations of our firm. We believe that BISYS possesses the service commitment, proven capabilities and resources to seamlessly administer the complexities of various fund operations."

Comments: (0)