Star Bank Selected as Custodian for Lindner Family of Mutual Funds
Star Bank, N.A., a leading regional bank, has been chosen as the custodian and provider of various banking services for the Lindner Family of Mutual Funds, a prominent mutual fund company headquartered in St. Louis, Missouri. This partnership marks a significant milestone for Star Bank, with the Lindner Family of Mutual Funds set to become one of its largest clients. The agreement will enable the mutual fund company to streamline its daily operations, eliminate labor-intensive tasks, and gain instant access to information about its securities.
Key Takeaways:
- The Lindner Family of Mutual Funds, founded in 1954 by Kurt J. Lindner, has grown to over $3.3 billion in assets and boasts one of the most consistent investment records in the industry.
- Two of the Lindner family of funds have received four and five-star ratings from Morningstar, a nationally recognized fund rating company.
- Star Bank's trust and private banking departments will provide custody services for the Lindner Family of Mutual Funds' stocks and bonds, including online computer access for instant information.
- Star Bank will also provide retirement plan administrative services, including IRA services, to the Lindner Family of Mutual Funds.
- Star Bank's trust and private banking departments currently hold over $15 billion in assets and provide mutual fund custody services to 81 funds with assets totaling over $7.4 billion.
- The partnership is a result of Star Bank's ability to deliver high-quality customer service and strong work ethics, as praised by Brian L. Blomquist, vice president and treasurer of the Lindner Family of Mutual Funds.
Statistics:
- The Lindner Family of Mutual Funds has over $3.3 billion in assets.
- Two of the Lindner family of funds have received four and five-star ratings from Morningstar.
- Star Bank's trust and private banking departments hold over $15 billion in assets.
- Star Bank provides mutual fund custody services to 81 funds with assets totaling over $7.4 billion.
Sources:
- Business Wire, February 13, 1995
- Morningstar, (no date specified)
- Star Banc Corporation, (no date specified)