As a new twist on the recent securitizations of 12b-1 mutual fund fees, BISYS Fund Service last week announced plans to launch a series of wrap fee-backed deals to hit the private market as early as first quarter of next year.

Though unable to give a deal-size estimate at this phase of development, Jim McCoy, senior vice president in product development at BISYS, said the program is sparking considerable interest from BISYS' clients, which include brokerage firms, investment advisors and mutual fund companies.

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