AmalgaTrust Co. Inc
1 W. Monroe, Chicago, Ill. 60603; phone: (312) 822-3296; fax: (312) 822-8527
($ millions)
Domestic master custodial assets4,910
Domestic master custodial clients73
Account supervisors4
Reports available on-line:
Monthly transaction
Asset & liability
Performance measurement
General ledger feeds
AmalgaTrust Co. Inc. reported new, tax-exempt domestic master custodial business of $1.243 billion in the year ended June 30.
The primary accounting method is full accrual, trade date. Modified accrual, settlement date also is offered.
Services offered in the basic master trust/master custodial agreement are flexible Taft-Hartley focused employee benefit financial and on-line access.
Securities lending, performance measurement, investment monitoring, benefit payments, and multiemployer 401(k), self-directed annuity and 457 plan services are available for additional fees.
Record-keeping services offered include participant record keeping in conjunction with CIGNA.
New features include multiemployer defined contribution products and investment enhancements.
Fees are based on market value, account type and transactions.
The master trust and master custody contact is William J. Uher.
Bank One Trust Co. N.A.
100 E. Broad St., Columbus, Ohio 43215; phone: (800) 622-1318; fax: (330) 438-8359
($ millions)
Domestic master trust assets15,000
Tax-exempt10,000
Taxable5,000
Domestic master custodial assets55,000
Domestic master trust clients:
Tax-exempt101
Taxable22
Domestic master custodial clients53
Account supervisors8
Reports available on-line:
Monthly transaction
Asset & liability
Bank One Trust Co. N.A. reported new, tax-exempt domestic master trust business of $1 billion in the year ended June 30 and new, tax-exempt domestic master custodial business of $5 billion.
The primary accounting method is time based dollar accrual. Trade/settlement date cash accounting are also offered.
Services offered in the basic master trust/master custodial agreement are short term sweep, fund/unit accounting, cash management, settlements, safekeeping, income collection, reporting and capital changes monitoring.
Performance measurement, on-line access, pooled fund administration, distribution services, securities lending and investment management are available for additional fees.
Record-keeping services offered include defined contribution plan participant level record keeping for proprietary product plans.
New features include client/server information technology.
Fees are based on asset value, number of accounts and transactions.
The master trust client contact is William Feldman; the master custody client contact is William Brownson.
Bank of Boston
150 Royall St., Canton, Mass. 02021; phone: (617) 575-2156; fax: (617) 575-2674
($ millions)
Domestic master trust assets18,000
Tax-exempt10,500
Taxable7,500
Domestic master custodial assets55,000
Domestic master trust clients:
Tax-exempt350
Taxable13
Domestic master custodial clients275
Account supervisors15
Reports available on-line:
Monthly transaction
Asset & liability
Performance measurement
Customized reports
Bank of Boston reported new, tax-exempt domestic master trust business of $1 billion in the year ended June 30 and new, tax-exempt domestic master custodial business of $2 billion.
Accounting methods used are trade date, fully accrued; settlement date; and cash basis.
Services offered in the basic master trust/master custodial agreement are safekeeping, income collections, trade settlement, corporate action and proxy administration and accounting services.
Donor accounting, benefit payments, cash management, record keeping, performance measurement, tax reporting, securities lending, foreign exchange and on-line products are available for additional fees.
Record-keeping services offered include 401(k) plan administration.
New features include enhanced information and reporting capabilities.
Fees are varied based on services provided.
The client contact is Virginia Knowlton.
Bankers Trust Co.
130 Liberty St., New York, N.Y. 10006; phone: (212) 250-4101; fax: (212) 250-6986
($ millions)
Domestic master trust assets270,300
U.S. tax-exempt265,400
U.S. taxable4,900
Countries serviced by network63
Countries serviced by subcustodian61
Domestic master custodial assets209,700
Domestic master trust clients:
Tax-exempt368
Taxable23
Domestic master custodial clients232
Account supervisors48
Reports available on-line:
Monthly transaction
Asset & liability
Performance measurement
Securities lending
Bankers Trust Co. reported new, tax-exempt domestic master trust business of $1.41 billion in the year ended June 30 and new, tax-exempt domestic master custodial business of $6.227 billion.
The primary accounting method is trade date, fully accrued. Settlement date and tax lot also is offered.
Services offered in the basic master trust/master custodial agreement are accounting and reporting, income collection, corporate action processing, full servicing of investment managers, cash management, and tax reporting and ERISA 5500.
Global performance measurement with on-line workstation, asset consulting, global securities lending, benefit payments, investment management and participant services are available for additional fees.
Record-keeping services offered include benefit payments, full record keeping for DC plans, and full participant service center capabilities.
New features include an enhanced benefit payment system, enhanced on-line capabilities, fully integrated multicurrency accounting and reporting, risk management and consulting services, and an on-line compliance monitoring module.
Fees are based on transaction volumes, safekeeping and administrative services.
The client contact is Timothy F. Keaney.
The Bank of New York
1 Wall St., New York, N.Y. 10286; phone: (212) 635-7164; fax: (212) 635-7141
($ millions)
Domestic master trust assets227,226
Tax-exempt182,489
Taxable44,737
Domestic master custodial assets352,502
Domestic master trust clients:
Tax-exempt734
Taxable34
Domestic master custodial clients418
Account supervisors130
Reports available on-line:
Monthly transaction
Asset & liability
Performance measurement
Settlements
Holdings
Audited accounting
Plan accounting
Dividend and interest income
Corporate actions
Tax reclaim
Currency balances
Foreign exchange
Securities on loan
Cash transactions
Holdings and projections
The Bank of New York reported new, tax-exempt domestic master trust business of $29.725 billion in the year ended June 30 and new, tax-exempt domestic master custodial business of $121.474 billion.
The primary accounting method is fully accrued trade and settlement date. Average cost, tax lot, LIFO, FIFO, amortized coast and liability also are offered.
Services offered in the basic master trust/master custodial agreement are worldwide securities settlement and safekeeping, full asset servicing, complete trust administration, multicurrency accrued accounting and reporting, cash management, electronic access and client training.
Benefit disbursements, worldwide securities lending, plan accounting, performance measurement/portfolio analytics, investment management services, funds transfer services, foreign exchange and brokerage services are available for additional fees.
Record-keeping services offered include plan accounting, benefit disbursements and ERISA reporting.
New features include an expanded global presence resulting from the acquisition of custody operations from BankAmerica and J.P. Morgan; an operations center in Singapore; and enhancements to PC client workstation and mainframe applications.
Fees are customized based on asset value, transaction volume, portfolio structure and additional services.
The client contact is Eric Kamback.
