U.S. Bancorp Fund Services Deploys Mutual Fund Tool

By Tim Clark, Wall Street & Technology

Eagle Investment Systems, a Mellon Financial Company, recently announced that U.S. Bancorp Fund Services (USBFS), a subsidiary of U.S. Bancorp, the 6th largest financial holding company in the United States, has selected Eagle STAR to support its mutual fund accounting and reporting needs.Eagle STAR is a Web-based investment accounting system that supports multiple lines of business including mutual funds, insurance, institutional asset management, hedge funds and brokerage/wealth management on a single platform. USBFS decided to extend its relationship with Eagle, which began in 2005, after successfully implementing Eagle PACE, a data hub and portfolio management solution, and Eagle Portal, an interactive information delivery platform for the Web.

"Eagle is the only firm offering a fully integrated accounting and data warehouse system on new technology, enabling us to further enhance our operational efficiencies," said Joe Redwine, president of USBFS. Headquartered in Milwaukee since 1969, USBFS currently provides services to 270 fund families, with over 1,500 portfolios and 2,000 fund classes and administers 3.3 million shareholder accounts with $608 billion in client assets.