For investment advisors concerned about the cost and effort involved in starting and operating a mutual fund, our Multiple Series Trust services provide a feasible alternative. Each Multiple Series Trust is an existing mutual fund, an open-end management investment company registered with the Securities and Exchange Commission, and a "series" fund.
A series fund is a single registered entity — in this case a Delaware business trust — that has the power to create an unlimited number of series, or separate portfolios. Each portfolio has its own assets and liabilities and shareholders, and each portfolio is independent of the others.
U.S. Bancorp Fund Services, LLC will guide investment advisors through the process of creating separate portfolios within the Trust — in effect, their own mutual fund. The portfolios have their own names, prospectus, and reports to shareholders — in other words, its own identity as far as the public is concerned.
We manage the day-to-day operations and details, allowing the investment advisor to simply manage the portfolio.