has selected Bisys
to provide fund administration and accounting services, Bill Tomko, president of the latter's investment services group, told the MutualFundwire.com. Bisys will be providing services for 14 Bear Sterns funds.
12 of the funds are domestic, and two of the funds are off-shore, Tomko explained. One is based in Dublin, and the other is domiciled in the Cayman Islands. Bisys will also provide the two offshore funds with transfer agency services.
"Bisys also demonstrated its ability to materially reduce our oversight burden, which will enable us to focus our attention and resources on our core business of managing assets, continually increasing the satisfaction levels of our existing clients, and aggressively attracting new shareholders," explained Frank Maresca, a senior managing director of Bear, Stearns & Company Inc. and the president and ceo of Bear Stearns Fund Management, Inc.
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