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Portfolio > Alternative Investments > Hedge Funds

BISYS Signs Funds

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A company that sells support services to financial services firms says it has 4 new customers.

BISYS Group Inc., New York, says the new customers are Giant 5 Funds, Colorado Springs, Colo.; Paradigm Global Advisors L.L.C., New York; Prusik Asia Fund P.L.C., Dublin; and Wayne Hummer Asset Management Company, Chicago.

The managers of Giant 5 will be turning to BISYS for fund accounting, transfer agency and administrative services for the new Giant Total Investment System and Giant 4 Total Investment System world allocation funds of funds. Michael Willis, the president of the Willis Group Inc., Colorado Springs, the company that founded Giant 5, has created funds that will try to help investors offset increases in specific types of living costs, such as the cost of energy and the cost of housing, by using the themes of bonds, capital, energy, raw materials and real estate to allocate assets, according to BISYS.

Paradigm will be using BISYS to provide legal and compliance infrastructure and fund administrative services for Paradigm hedge funds, and Wayne Hummer will be using BISYS to provide fund accounting, transfer agency, distribution and chief compliance officer support for its PathMaster Domestic Equity Fund, BISYS says.

The managers of the Prusik Asia fund will be using BISYS fund accounting and transfer agent services.


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