PITTSBURGH - PNC Financial Services Group said Monday that it has converted five million accounts to its new Surpas mutual fund subaccounting system.
PNC said it is the largest-ever conversion to a new system.
Edward Jones holds the accounts, representing $56.7 billion of assets, PNC said. Surpas provides record-keeping services for mutual funds and their clients. The system was created by PFPC Inc., a subsidiary of PNC Financial Services Group.