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U.S. Bancorp Fund Services, LLC Launches Exchange Traded Funds Service, ETF-Fusion™

MILWAUKEE--(BUSINESS WIRE)--Dec. 6, 2011-- U.S. Bancorp Fund Services, LLC (USBFS) has announced the launch of its Exchange Traded Funds (ETF) service called ETF-FusionTM.

With ETF-Fusion™, USBFS is now able to serve investment managers sponsoring either existing or startup ETF products, with consulting support including product development, implementation, and proprietary technology.

“ETFs are the industry’s fastest growing segment and we are pleased to provide an innovative solution to support this unique product,” said Joe Redwine, president of USBFS. “With a full-service system, including distribution and custody support, we are offering something new and valuable to the industry.”

ETF-FusionTM offers numerous benefits through two new systems and addresses the unique needs of an ETF:

  • DASHTM (Direct Access to a Secure Hub) -- A trade application updated in real time that provides an automated interface between fund sponsors, distributors and authorized participants. Benefits include:
    • Excel-enabled Web query order reports can be provided in real time. DASH™ allows online management of both fixed and variable fees, as well as soft cut-offs on trades;
    • Distributors, sponsors, and authorized participants receive automatic confirmations of trades and are able to quickly revise and make decisions through a live, online dashboard;
    • All fax and Web orders are personally affirmed to reduce and mitigate risk;
    • Impromptu holiday forecasting and automatically supports regular and reverse splits and;
    • A dedicated service team which can provide technical support and create login credentials for various users.
  • GeniusTM -- A central database contained within the core of USBFS’ fund accounting and inventory systems integrates all ETF applications. Benefits include:
    • Benchmark data, fund data and order data are all directed and contained within the database;
    • Portfolio Composition File (PCF), Intraday Indicative Value (IIV) and in-kind trade files are transmitted and received between the funds’ records, DASHTM, the DTCC/NSCC, the New York Stock Exchange (or alternate IIV agent), and the fund’s custodian for Continuous Net Settlement (CNS) processing; and
    • Integration between DASHTM, the fund’s books and records, continuous net settlement, and custodians results in smooth settlements. GeniusTM enables a client’s core accounting team to manage its daily core accounting functions simultaneously with added ETF processing requirements resulting in a singular approach to ETF servicing.

“In addition to simplifying the processes of ETF trading, USBFS automated processes that traditionally have been manual, and made ETFs a much more efficient option for investment managers,” said Eric Falkeis, chief financial officer of USBFS.

USBFS also offers a dedicated ETF knowledge team with contacts in administration, tax, fund accounting, legal, transfer agent, custody, and distribution to provide investment managers with specialized expertise:

  • ETF market consulting;
  • Launch process support;
  • Product design;
  • Support to the AP network;
  • Manager/ETF/exchange operations support;
  • ETF technology/workflow consulting; and
  • Regulatory, compliance, and tax consulting and support.

“With more than 40 years of mutual fund expertise, the USBFS team is proud of our ability to provide innovative servicing and technology for new products,” said Bob Kern, executive vice president of business development and marketing. “We continue to look for new ways to expand our servicing capabilities, and provide our more than 300 clients with solutions for successfully growing their portfolios in today’s complex mutual fund environment.”

About U.S. Bancorp Fund Services, LLC

Headquartered in Milwaukee since 1969, U.S. Bancorp Fund Services, LLC provides services to 310 fund families comprised of 1,783 portfolios, 2,016 fund classes, and 3.4 million shareholder accounts with $461 billion in client assets. U.S. Bancorp Fund Services combines industry-leading technology with high-quality customer service to provide clients with the best solutions available. For more information about their comprehensive suite of mutual fund and alternative investment product services, call 800-300-3863 or visit www.usbfs.com.

Source: U.S. Bancorp Fund Services, LLC

U.S. Bancorp Fund Services, LLC
Amy Frantti, Public Relations, 612-303-0733
or
Mark Pawlyshyn, Vice President of Marketing, 414-765-5758

"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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