Pershing Limited, an affiliate of Pershing LLC and a unit of The Bank of New York Mellon, has launched Nexus Funds, a no-transaction fee mutual fund solution that provides clients with a single access point to global funds.
Through Nexus Funds, private client wealth managers can buy and sell a variety of global funds. Dealing and settlement fees, in addition to custody fees on new assets, are waived for eligible deals in UK-registered funds that utilise the solution.
Nexus Funds is fully integrated with Pershing Nexus, a browser-based platform that provides a whole of market offering with integrated execution, settlement and custody services across all major instrument types including fixed income, equities, foreign exchange and funds.
“With Nexus Funds, not only is fund dealing faster and settlement dates more predictable, but the costs and errors typically associated with fund transactions are dramatically reduced,” says Charles van der Merwe, chief executive officer of Pershing Limited.