Merrill Lynch has launched a new administration service in Dublin for the transfer of agent-related activities, specifically for non-US domiciled mutual funds. The new facility will handle assets on behalf of Merrill Lynch clients.

The service will provide functions including sub-accounting and transfer agent services to support international registered mutual funds, money market funds, bank products and managed accounts, Merrill Lynch said. The launch will create an international service solution for Pan-Europe and Asia-Pacific for asset transition services.

The service will be provided within Merrill Lynch Ireland by FDS Financial Data Services, a wholly owned subsidiary of FDS Jacksonville/Merrill Lynch Bank USA.

A transfer agent is a trust company, bank or similar financial institution assigned by a corporation to maintain records of investors and account balances and transactions, to cancel and issue certificates, to process investor mailings and to deal with any associated problems such as lost certficates.