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U.S. Bancorp Fund Services Recognized for Service Excellence
Transfer Agent Division Named "Best-In-Class" by NQR and Receives AWD Process Excellence Award from DST


The Transfer Agent division for U.S. Bancorp Fund Services announced its first quarter 2011 results from National Quality Review (NQR), including a Best-In-Class rating for NQR's new Correspondence Composite rating.

"This new benchmark allows us to gauge how our correspondence group performs compared to the industry based solely on contents of letters to shareholders. I'm proud that our organization receives compliments from National Quality Review related to the quality of our content and that we are recognized as Best-In-Class," said Ian Martin, executive vice president of the Transfer Agent at U.S. Bancorp Fund Services.

The Correspondence Composite rating benchmark was introduced for shareholder correspondence in the first quarter of 2011. The NQR Correspondence Composite is a weighted average that considers three measures of accuracy: content, clarity and typographical. In recognition that the primary goal of any customer interaction is the delivery of accurate and complete information, content is the most heavily weighted element at 60 percent. The remaining weights are 25 percent for clarity and 15 percent for typographical.

Over the past several years, the Transfer Agent of U.S. Bancorp Fund Services has performed in the top quartile of all companies analyzed by NQR and received the following competitive benchmark ratings:

  • Ten consecutive quarters above the NQR Benchmark for correspondence;
  • Two Best-In-Class ratings in the past three quarters for correspondence;
  • 24 consecutive quarters performing at or above the statistical operating range of the NQR processing benchmark;
  • 27 Best-in-Class ratings in the past 17 quarters for processing; and
  • 17 consecutive quarters as a "5-Star" performer for processing.

The company's commitment to quality, responsiveness, and accuracy can also be seen in other recent awards won by the Transfer Agent. The Transfer Agent Document Distribution department was awarded the 2011 Automated Work Distributor (AWD) Process Excellence Award by DST Systems, Inc. (DST) for its implementation of AWD JumpStart, an automated mail classification platform. The award was announced at AWD's annual Advance Conference in Kansas City in May.

"This is a great achievement. DST awards the AWD Process Excellence Award annually to only one organization and their qualifications are steep -- the organization must utilize an AWD solution to improve its work flow, create greater efficiency, improve cost effectiveness, and to enhance the client experience," said Martin. "U.S. Bancorp Fund Services is committed to its clients and continually improving their offerings and service quality through their recent awards and NQR Best-In-Class designations."

About U.S. Bancorp Fund Services, LLC

Headquartered in Milwaukee since 1969, U.S. Bancorp Fund Services, LLC currently provides services to 292 fund families with 1,712 portfolios and 1,947 fund classes with $474 billion in client assets. The Transfer Agent of U.S. Bancorp Fund Services provides services to 3.6 million shareholders, 136 fund groups, 529 portfolios, and 1,006 fund classes with $267 billion in total assets. U.S. Bancorp Fund Services' clients include mutual funds, investment partnerships, hedge funds, separately managed accounts, fund-of-funds, and offshore funds. Visit U.S. Bancorp Fund Services at www.usbfs.com.

SOURCE: U.S. Bancorp Fund Services, LLC

U.S. Bancorp Fund Services, LLC
Amy Frantti, Media Relations
Mark Pawlyshyn, Marketing Manager
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

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