BNY Mellon Asset Servicing will provide shareholder services, financial and regulatory reporting, and money market stress testing for the Virtus Mutual Funds, which had $14.9bn in assets and 290,000 shareholder accounts as of 31 December 2010.
Virtus Investment Partners senior vice president for Mutual Fund Administration Patrick Bradley said they chose BNY Mellon Asset Servicing for transfer agency services due to their operational efficiencies and technology platform.
"Through our existing relationship, the BNY Mellon Asset Servicing staff have demonstrated responsiveness to our needs and the needs of our fund shareholders," Bradley said.
"The cornerstone of our business is an unwavering commitment to investor success, and we believe that BNY Mellon Asset Servicing can help us continue to make this a reality for our mutual fund shareholders."
BNY Mellon Asset Servicing currently provides fund accounting and administration, Blue Sky, and custody services, as well as shareholder services for closed-end funds, to Virtus Investment Partners.