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Northern Trust to provide fund administration to AMF mutual funds

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Northern Trust has been appointed by Shay Assets Management to provide fund administration, transfer agency, and custody services to the Asset Management Fund family of open-end mutual funds.

Shay Assets Management, located in Chicago, serves as investment adviser to the USD1.2bn AMF family, which includes six fixed income mutual funds and one equity mutual fund.

"Northern Trust’s well-earned reputation for exceptional service and its marketplace expertise regarding registered mutual funds were important factors in our selection," says Roger D. Shay, Jr., president of AMF and Shay Financial Services. "This strong combination, delivered in a cost-effective service model, will make Northern Trust a true partner in supporting our investment strategies and business goals."

The Northern Trust global fund services division has been servicing investment manager and fund company clients for more than 30 years. Globally, it services more than 430 investment managers encompassing approximately 4,000 funds.

"AMF’s commitment to their investors and long-term goals are a great fit with Northern Trust’s ongoing support of the registered fund business," adds Peter Cherecwich, chief operating officer for corporate and institutional services at Northern Trust.

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