U.S. Bancorp adds fourth shared trust

U.S. Bancorp Fund Services, LLC started offering a new Multiple Series Trust called Managed Portfolio Series on May 26. The MST is the fourth to be offered by the Milwaukee bank’s Fund Services division.
A multiple series trust is offered to investment advisors to support their mutual funds through unlimited individual portfolio creation.
USBFS’ shared trusts now comprise $12.585 billion in mutual fund assets, 103 participating funds, 145 classes and 56 different advisers.
“We are excited to be able to expand our MST offering and provide our clients with the highest level of products and services necessary for them to be successful in this competitive landscape. Our culture and work ethic drive us to deliver what it takes to support each individual client from start-ups to mature fund families,” said Joe Redwine, president of U.S. Bancorp Fund Services. “This latest MST continues to showcase our ability to provide best-in-class services to a wide variety of asset managers.”
The new Managed Portfolio Series trust was launched with $71 million in assets.