Media Contacts:
Robert Minicucci, Warner Communications, 603-488-5856, robert@warnerpr.com
Amy Frantti, U.S. Bancorp, 612-303-0733, amy.frantti@usbank.com

U.S. Bancorp Fund Services Completes Successful Voluntary Holdings XBRL Filing with Confluence Unity™ Platform

(Pittsburgh, PA and Milwaukee, WI – July 15, 2009) Confluence, the leading global provider of automated data management solutions for the investment management industry and U.S. Bancorp Fund Services, LLC (USBFS) today announced that they have completed their first successful Schedule of Investments filing as part of the SEC’s XBRL Voluntary Filing Program. The SEC Program enables mutual funds to file reports using XBRL (eXtensible Business Reporting Language), a form of electronic communication that can make it easier and faster for investors to search for and use information from SEC filings.

“In order to meet our clients’ expectations for industry-leading technology, we partnered with Confluence to enhance its Unity™ Holdings product by adding the ability to create XBRL filings for Schedules of Investments,” said Eric Falkeis, Chief Financial Officer, Senior Vice President Technology, USBFS. “With the heightened focus in the industry on mitigation of risk, we are committed to providing our clients with innovative tools to report data with a high level of integrity and accuracy.”

The filing made on July 15 was the May 31, 2009 Schedule of Investments for the Stephens Small Cap Growth Fund and the Stephens Mid Cap Growth Fund, managed by Stephens Investment Management Group and part of the Professionally Managed Portfolios Trust. According to Stephens’ Chief Operating Officer Michael Nolte, “We embrace the emerging XBRL technology that we believe will ultimately provide investors with the information they need to make better informed decisions. We are eager to take a leadership role in the SEC’s initiative to bring a greater level of transparency and accuracy to investors in the marketplace.

USBFS provides fund administration services to Stephens and more than 280 other fund families. They utilize the Unity fund administration platform from Confluence to automate performance, benchmark, holdings and financial statement reporting on behalf of their clients.

“Over time, we fully expect XBRL to be the standard for information delivery across all aspects of fund reporting—allowing for more consistent information disclosure, more frequent updates, greater comparability across funds, and lower information delivery costs,” said Kirk Botula, Executive Vice President and Chief Operating Officer of Confluence. “With the ability to automatically tag content for XBRL delivery during its creation, Unity Holdings enables repurposing of content from the point of consolidation for greater control and scalability.”

Confluence and USBFS have been very involved in XBRL adoption initiatives for the investment management industry. Confluence served on the original Investment Company Institute (ICI) XBRL Working Group with representatives from the entire fund industry. As part of the SEC’s 2007 Voluntary Risk/Return filing program, Confluence also provided the free software tool Quick Tag™ that allowed users to tag prospectus risk/return summary information and create XBRL-formatted files. USBFS has been providing tools to facilitate XBRL participation for its clients since May 2007 when it piloted the use of Quick Tag. In August 2007, USBFS was one of the first to file as part of the SEC’s Voluntary Program for Risk/Return filings.

About Confluence

Founded in 1991, Confluence is a global leader in fund administration automation. Confluence helps investment management companies gain unprecedented control by automating every step of the fund administration process—including the collection, creation, confirmation, and delivery of investment product data. Results are lower costs, reduced risk, decreased reporting turnaround times, and the scalability to automate more processes without additional resources. Confluence solutions are used by 40 percent of the leading global investment managers, and more than 60 percent of US mutual funds. The Unity platform from Confluence addresses a wide range of problems from performance measurement to customized reporting for a full array of domestic and international managed investment products, including mutual funds, funds of funds, collective funds, separate accounts, and variable products, as well as hedge funds and other alternative investments. Major fund companies such as the Principal Financial Group®, T. Rowe Price, and Russell Investments; and service providers such as U.S. Bancorp Fund Services rely on Confluence. Headquartered in Pittsburgh, PA, Confluence serves the international fund industry with key locations in London and Luxembourg. For more information, visit www.confluence.com or e-mail info@confluence.com.

About U.S. Bancorp Fund Services, LLC

Headquartered in Milwaukee since 1969, U.S. Bancorp Fund Services, LLC currently provides services to more than 280 fund families, with over 1,600 portfolios and 2,000 fund classes. U.S. Bancorp Fund Services administers 4.4 million shareholder accounts with $600 billion in client assets. Its clients include mutual funds, investment partnerships, hedge funds, separately managed accounts, fund-of-funds, and offshore funds. Visit U.S. Bancorp Fund Services at usbfs.com.

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