JPMorgan Worldwide Securities Services, a global provider of custody and securities services, said Wednesday that Lee Munder Capital Group had chosen its outsourcing services for a separately managed accounts program.
JPMorgan Managed Account Solutions will enable Lee Munder to expand its offerings in separately managed accounts by automating back-office functions, the banking company said. It will provide services such as account opening and closing, account maintenance, document management, order management, performance reporting, and account reconciliation.
The Boston investment company's managed account assets included in the $2.5 billion it manages for institutional and private clients are to be served by JPMorgan.
Lee Munder will have access to all managed account programs through a single Web-based interface. At the interface it will be able to implement model portfolios across multiple individual accounts and gain access to shadow accounting, document imaging, and billing services.
