Denver, CO, 06/12/2014 (Stocksntrade) – Huntington Bancshares Incorporated (NASDAQ:HBAN)’s wholly owned subsidiary, Huntington Asset Services, Inc. recently announced to extend its services for three funds, including Yield-Focus Equity Fund, Growth Equity Fund and Value Equity Fund of Merit age Portfolio Management. The company will be providing fund administration, strategic distribution, accounting, custody and transfer agency services for all three funds.
As a part of this agreement, Unified Financial Securities, another wholly owned subsidiary of Huntington Bancshares Incorporated (NASDAQ:HBAN), will provide Merit age a unique approach by leveraging its wholesaling infrastructure and relationship network involving number of independent brokers, wire-houses and registered investment advisors. In addition, the company will help Merit age create a sales strategy to grow their assets.
Series Trust Market
Huntington Bancshares Incorporated (NASDAQ:HBAN)’s Huntington Asset Services entered the series trust market in 1998 and operates Capitol Series Trust, Valued Advisers Trust and Unified Series Trust. The company, through these series trusts, offers efficient and cost-effective solutions to investment advisers for starting a series of funds. This allows fund managers to concentrate on core investment management by leveraging existing investment company structure and economies of scale to grow their business.
Huntington Asset Services
Huntington Asset Services provides mutual fund service solutions for over five decades. The company serves clients with combined assets of approximately $45 billion through its fully-integrated service portfolio providing fund administration and distribution to accounting, custody and transfer agency services. It offers comprehensive solutions to standalone as well as series trust structures.
Huntington Bancshares Incorporated
Huntington Bancshares Incorporated (NASDAQ:HBAN) is a regional bank holding company headquartered in Columbus, Ohio. The bank operates through more than 700 branches and 1,500 ATMs across Ohio, Indiana, Pennsylvania, West Virginia, Kentucky and Michigan. The bank mainly operates through Retail and Business Banking segment; Regional and Commercial Banking segment; Automobile Finance and Commercial Real Estate segment; and Wealth Advisors, Government Finance, and Home Lending segment.
On Wednesday, its stock closed at $9.53, losing 1.85% from its previous close.