Pershing, a subsidiary of The Bank of New York Mellon, has added seven mutual fund providers to its Nexus Funds solution.
Pershing, a subsidiary of The Bank of New York Mellon, has added seven mutual fund providers to its Nexus Funds solution.
The additions of Credit Suisse Asset Management Funds (UK), J O Hambro Capital Management, Legal & General (Unit Trust Managers), Standard Life Investments (Mutual Funds), Thames River Multi-Capital, Threadneedle Investment Services and Way Fund Managers brings the total number of fund providers to 28 and the total number of funds available to 922.
Nexus Funds is a straight-through processing, no-fee mutual fund solution that is fully integrated with the Pershing Nexus platform. Dealing and settlement fees and custody fees on new assets are waived for eligible deals in UK-registered funds that use the solution. The deals also benefit from guaranteed contractual settlement and consolidated trailer fee payments, which help to enable predictable settlement dates and streamline clients’ administration and payment processes.
Pershing’s Nexus platform provides private client wealth managers, life companies, building societies and independent financial advisers with a single access point to buy and sell a variety of global funds and all major financial instruments, including equities, fixed income and foreign exchange.
Martin McHarg, director of product management at Pershing, says: "The addition of these seven fund providers demonstrates our ongoing commitment to help our clients grow their businesses by providing them with a comprehensive array of investment solutions from high calibre asset management companies. We will continue to expand our Nexus Funds platform to provide our clients with the solutions they need to serve investors."
