Eagle selects J.P. Morgan 08 November 2010New York Reporter: Justin Lawson
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J.P. Morgan Worldwide Securities Services has been mandated for, and successfully transitioned, the fund administration, custody and related securities services for Eagle Mutual Funds, the mutual fund complex of Eagle Asset Management, Inc. Eagle Asset Management, Inc. manages over $3billion in mutual fund assets with approximately 642,000 total shareholder accounts.
J.P. Morgan will provide a range of services including global custody, fund accounting, fund administration and transfer agency to provide a back-office solution for Eagle Funds. The integrated services will allow Eagle to further its strategy of focusing efforts on value-added asset management, while allowing the fund shareholders to benefit from the scale, efficiency and risk management of an industry leader in the fund administration services arena.
"We selected J.P. Morgan as our partner because of their strong reputation, ability to deliver quality services and in-depth industry expertise," said Richard Rossi, president and co-chief operating officer of Eagle Asset Management, Inc. "We are excited about the opportunity to realize operational efficiencies that will allow us to better serve our shareholders."
Chris Lynch, head of sales and relationship management - Americas for J.P. Morgan Worldwide Securities Services said: "At J.P. Morgan, we provide securities services for nearly 25% of the 40 Act-governed mutual funds in the U.S., and are proud to add Eagle as a new client to our strong franchise. We will be providing them with a superior set of transfer agency, fund accounting, administration, and custody services delivered by our experienced and seasoned team with our robust, award-winning technology."
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