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Mutual funds

Alps adds five mutual fund clients in second quarter


Alps Fund Services, a provider of asset servicing to the investment management industry, added five new mutual fund clients in the second quarter of 2010.

These were BBH Funds, Oak Associates Funds, Vulcan Value Partners, Transparent Value Advisors and Accessor Funds (re-branded as Forward Funds).

New York-based BBH Funds, the proprietary mutual fund family of Brown Brothers Harriman, selected Alps for transfer agency and medallion distribution services, complementing BBH’s own custody, administration and accounting offering.

Oak Associates, adviser to The Oak Associates Funds, is a growth equity investment adviser founded in 1985 in Ohio. The firm selected Alps for full turn-key services including administration, accounting, transfer agency, medallion distribution, tax and legal services.

“The conversion experience was very positive and we look forward to a long relationship with Alps. We are especially pleased to be able to provide enhanced services to our shareholders,” says Tina Oelschlager, head of relationship management at Oak Associates Funds.

Lisa Mougin, senior vice president and national sales director for Alps, says: “Oak Associates is a terrific addition to our client base. Our firms’ cultures are aligned, which is an element that ALPS looks for in clients during the sales process and beyond.”

Vulcan Value Partners, an Alabama-based registered investment adviser, selected Alps for full administration to two new mutual funds which are designed to mirror identical separate account strategies. Vulcan Value Partners was established in 2007.

Transparent Value Advisors has selected Alps to provide turn-key services for the three open-end mutual funds within the Transparent Value Trust. Transparent Value is a registered investment adviser and an indirect subsidiary of Guggenheim Partners.

Seattle-based Accessor Funds, re-branded as Forward Funds, also converted turn-key administration services to Alps during the first quarter of 2010.

“Bringing on over USD5bn in assets and 100,000 accounts during the second quarter is a record for us,” May says. “It is a testament to both the momentum we have built in the marketplace and the amazing effort and capability of our staff.”

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