Pershing Limited, an affiliate of Pershing LLC and a subsidiary of The Bank of New York Mellon Corporation, announces that seven new mutual fund providers have been added to its Nexus Funds application.
The additions of Credit Suisse Asset Management Funds (UK) Ltd, J O Hambro Capital Management Limited, Legal & General (Unit Trust Managers) Limited, Standard Life Investments (Mutual Funds) Limited, Thames River Multi-Capital LLP, Threadneedle Investment Services Limited and WAY Fund Managers Limited now bring 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 tool that is fully integrated with the Pershing Nexus(R) platform. Dealing and settlement fees and custody fees on new assets are waived for eligible deals in UK-registered funds that utilise the solution. These 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 (IFAs) 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.
“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,” says Martin McHarg, director of product management, Pershing Limited. “We will continue to expand our Nexus Funds platform to provide our clients with the solutions they need to serve investors.”
L.D.