Thursday, June 23, 2011
Altegris, Invesco and TIAA-CREF Add More NTF Distribution
Reported by Neil Anderson, Managing Editor
BNY Mellon's Pershing
just gave some good news to the distribution teams at Altegris [see profile]
, Invesco [see profile]
and TIAA-CREF [see profile]
. Today, Jersey City-based Pershing confirmed the addition of funds from all three families to its no-transaction fee mutual fund platform. The platform now boasts 4,300 funds from more than 230 families.
, director of investment solutions in Pershing's product management and development group, described the move as a way to "bring a wider selection of choices" to Pershing's clients.
Company Press Release
JERSEY CITY, N.J., June 23, 2011 -- Pershing LLC, a BNY Mellon company, announced today that it has added Altegris, Invesco and TIAA-CREF funds to FundVest®, Pershing's no-transaction fee mutual fund platform. It also expanded access to the current Invesco fund offering, including the legacy Van Kampen product line, which more than triples the overall offering in the Invesco fund family on the Pershing platform.
Mutual funds from these financial organizations are now available to Pershing's introducing broker-dealer customers and the clients they serve, and to independent registered investment advisors and their clients through Pershing's affiliate Pershing Advisor Solutions. FundVest allows investors to buy, sell or exchange load and no-load funds without incurring regular transaction fees. Pershing's platform now features 4,300 mutual funds managed by more than 230 fund families.
Sandy Motusesky, director of investment solutions in the product management and development group at Pershing, said, "Pershing continues to offer our customers market-leading solutions and access to funds from select financial institutions that will help customers grow and expand their businesses. The addition of the Altegris funds, Invesco funds and TIAA-CREF funds to the FundVest platform will bring a wider selection of choices for our customers who will not only benefit from our no-transaction fee platform structure, but will also have the opportunity to provide their clients with a more diversified group of investment options to help them meet their financial goals."
Pershing has continued to expand the number of mutual fund families available through FundVest. More than 50 industry-leading mutual fund companies have been added to the platform in 2010-2011, including Lord Abbett®, Janus Funds and ING Fund Services, LLC.
Pershing LLC (member FINRA/NYSE/SIPC) is a leading global provider of financial business solutions to more than 1,500 institutional and retail financial organizations and independent registered investment advisors who collectively represent more than five million active investors. Located in 21 offices worldwide, Pershing and its affiliates are committed to delivering dependable operational support, robust trading services, flexible technology, an expansive array of investment solutions, practice management support and service excellence. Pershing is a member of every major U.S. securities exchange and its international affiliates are members of the Deutsche Borse, the Irish Stock Exchange and the London Stock Exchange. Pershing LLC is a BNY Mellon company. Additional information is available at www.pershing.com.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $25.5 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.7 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available at www.bnymellon.com.
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