JP Morgan Selected By Lee Munder For Managed Account Program
Lee Munder Capital Group has selected JPMorgan to provide outsourcing services for the separately managed accounts program included in the $2.5bn in assets that LMCG manages for their institutional and private clients. According to JPMorgan, the managed account solutions will enable Lee Munder to expand its offerings in separately managed accounts by providing outsourcing services to automate back office functions. JPMorgan will provide a variety of services, such as account opening and closing, account maintenance, document management, order management, performance reporting, and account reconciliation. Lee Munder will be able to access all managed account programs through a single web-based interface, where they will be able to implement model portfolios across multiple customized individual accounts, access shadow accounting, document imaging and billing services.