Virtus Investment Partners has selected BNY Mellon Asset Servicing to provide mutual fund transfer agency services.
BNY Mellon Asset Servicing will provide shareholder services, financial and regulatory reporting, and money market stress testing for the Virtus Mutual Funds, which had USD14.9 billion in assets and 290,000 shareholder accounts as of December 31, 2010.
BNY Mellon Asset Servicing currently provides fund accounting and administration, Blue Sky, and custody services, as well as shareholder services for closed-end funds, to Virtus Investment Partners.
"We chose BNY Mellon Asset Servicing for transfer agency services due to their operational efficiencies and technology platform," says W Patrick Bradley (pictured), senior vice president, Mutual Fund Administration at Virtus Investment Partners. "Through our existing relationship, the BNY Mellon Asset Servicing staff have demonstrated responsiveness to our needs and the needs of our fund shareholders. The cornerstone of our business is an unwavering commitment to investor success, and we believe that BNY Mellon Asset Servicing can help us continue to make this a reality for our mutual fund shareholders."
Michael DeNofrio, head of US investor services within BNY Mellon Asset Servicing’s Global Financial Institutions group, says: "This mandate is indicative of our ability to deliver a comprehensive array of services that creates great value for clients. Virtus has a clear understanding of the evolving investor services environment and believes that our expertise within both the transfer agent and sub-accounting arenas provides them with a distinct competitive advantage. By extending their relationship with BNY Mellon Asset Servicing, Virtus can wholly focus on the continued growth of their wide spectrum of offerings."
Virtus Investment Partners is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. The company provides investment management products and services through its affiliated managers and select subadvisers, each with a distinct investment style, autonomous investment process and individual brand. Virtus Investment Partners offers access to a variety of investment styles across multiple disciplines to meet a wide array of investor needs. Additional information can be found at www.virtus.com.
