- BISYS to Support 17 Mutual Funds for Denver-Based Asset Manager -
NEW YORK, May 23 /PRNewswire-FirstCall/ -- BISYS, a leading provider of
outsourcing solutions for the financial services sector, today announced that
it has been selected by Denver, Colorado based ICON Advisers, Inc., to provide
a full-service mutual fund servicing solution. ICON Advisers, Inc., is a
valuation-based asset management firm with approximately $3.6 billion in
assets under management. BISYS will support the ICON Funds, comprised of
17 funds and approximately $2.7 billion in assets under administration, with
fund accounting, financial administration, legal, compliance and regulatory
services.
According to Craig Callahan, President and Chief Executive Officer of ICON
Advisers, "We selected BISYS to perform these critical business functions
based on its broad suite of products and services and its commitment to
state-of-the-art technology. Leveraging our core competencies with BISYS'
resources will effectively and efficiently support our ongoing growth goals."
According to George Evans, Executive Vice President of Business
Development for BISYS Investment Services, "We look forward to working closely
with ICON Advisers, and feel that our comprehensive service capabilities make
us ideally suited to support ICON Advisers' business objectives. We have
tailored a program for ICON that will provide a comprehensive servicing
solution, as well as assist them with asset growth and retention."
Fred Naddaff, President of BISYS Fund Services, added, "We welcome the
addition of ICON Advisers, Inc. to our client community and stand ready to
support its growth, performance and service goals. We are very pleased by the
confidence that ICON Advisers has in our core outsourcing platform, our
products and services, technology and industry expertise. We believe our
servicing platform is an ideal fit with ICON Advisers' performance and service
goals and look forward to a long and successful relationship with this
respected organization."
About ICON Advisers, Inc.
ICON Advisers, Inc. is a valuation-based asset manager that utilizes
industry rotation to identify market themes in U.S. and overseas.
Headquartered near Denver, Colorado, ICON has approximately $3.6 billion under
management as of December 31, 2004.* In addition to the ICON Funds, ICON
Advisers, Inc. offers mutual fund allocation portfolios and separately managed
accounts and subadvises variable annuity portfolios. For more information
about ICON Advisers, Inc, visit http://www.iconadvisers.com
About BISYS
The BISYS Group, Inc. (NYSE: BSG) provides outsourcing solutions that
enable investment firms, insurance companies, and banks to more efficiently
serve their customers, grow their businesses, and respond to evolving
regulatory requirements. Its Investment Services group provides
administration and distribution services for mutual funds, hedge funds,
private equity funds, retirement plans and other investment products. Through
its Insurance Services group, BISYS is the nation's largest independent
wholesale distributor of life insurance and a leading independent wholesale
distributor of commercial property/casualty insurance, long-term care,
disability, and annuity products. BISYS' Information Services group provides
industry-leading information processing, imaging, and back-office services to
banks, insurance companies and corporate clients. Headquartered in New York,
BISYS generates more than $1 billion in annual revenues worldwide. Additional
information is available at http://www.bisys.com .
* Assets under management include mutual fund assets, assets in mutual
fund allocation portfolios in the ICON Funds, institutional and separate
accounts.
Except for the historical information contained herein, the matters
discussed in the press release are forward-looking statements within the
meaning of the safe-harbor provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially, including
but not limited to economic, competitive, governmental and technological
factors affecting the Company's operations, markets, services and related
products, prices and other factors discussed in the Company's periodic filings
with the Securities and Exchange Commission.
SOURCE The BISYS Group, Inc.
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Related links:
http://www.bisys.com
http://www.iconadvisers.com
Company News On-Call:
http://www.prnewswire.com/comp/851938.html
CONTACT:
Daniel Briggs, Vice President, Finance and
Investor Relations, The BISYS Group, Inc., +1-212-907-6134
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