FBR [see profile] has picked US Bancorp Fund Services as the new transfer agent for its family of 10 mutual funds. Effective Friday last week, US Bancorp took over transfer agent duties from JPMorgan Chase Bank [SEC filing].

"The FBR Mutual Funds have consistently made a practice of seeking the most effective and efficient services to support the FBR fund shareholders - and we believe the transition to US Bank is in keeping with this mandate," wrote Russell Parker, chief marketing and distribution officer, in an e-mail to The MFWire.com.

A US Bancorp spokeswoman said the fund servicer has no comment for this story. A JPMorgan representative was not immediately available for comment.  

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