Money Funds and FDIC-Insured Bank Programs
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| Pershing strives to increase the efficiency and effectiveness of financial organizations, by continually building, enhancing, and supporting innovative financial products and services.
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| Money funds and FDIC-insured bank deposit programs
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| processing and revenue sharing fees are significant sources of revenue for Pershing and may be significant sources of revenue for your financial organization. Pershing receives fees from the providers listed below for making available money market funds or FDIC-insured bank deposit programs, which you may have selected through your financial organization. These fees are paid in accordance with an asset-based formula. Your financial organization may share in these fees. A portion of Pershing’s fees are applied against costs associated with providing services on behalf of the participating providers, which may include maintaining cash sweep systems, sub-accounting services, dividend and interest calculation and posting, accounting, reconciliation, client statement preparation and mailing, tax statement preparation and mailing, marketing and distribution related support, and other services. The providers listed below are in order of 2012 gross dollar payments to Pershing from highest to lowest.
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Money Funds and FDIC-Insured Bank Programs
1. Federated Investors, Inc.
2. Dreyfus Insured Deposits
3. Dreyfus Corporation
4. Liquid Insured Deposits
5. Deutsche Bank Insured Deposits
6. Reich & Tang Funds
7. Legg Mason Western Asset Funds
8. Wells Fargo Funds
9. Invesco AIM Funds
10. DWS Scudder Funds
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| Money Fund and FDIC-Insured Bank Fees and Revenue Sharing
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| Pershing receives processing fees from certain money fund and bank providers, which may be associated with your financial organization. These fees reimburse Pershing for operational services it performs on behalf of the providers, which may include maintaining cash sweep systems, sub-accounting services, dividend and interest calculation and posting, accounting, reconciliation, client statement preparation and mailing, tax statement preparation and mailing, or other services. Pershing receives fees for the processing it performs on behalf of the providers listed below and they are listed in order of 2012 gross dollar fees paid to Pershing.
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| Funds |
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| 1. DWS Scudder Funds |
16. Key Bank Insured Deposit Account |
| 2. AIG Insured Deposit Program |
17. Banco Santander Insured Deposits |
| 3. Citibank Bank Deposit Program |
18. Principal Funds |
| 4. First Republic Bank Insured Deposits |
19. BMO Harris Funds |
| 5. HSBC Funds |
20. Puerto Rico Money Market Funds |
| 6. T. Rowe Price Funds |
21. Waddell & Reed Funds |
| 7. Hewitt Funds |
22. Bank of the West Insured Deposit Account |
| 8. MetLife Bank Insured Deposits |
23. BNY Mellon Insured Deposit Program |
| 9. SunAmerica Funds |
24. First Puerto Rico Funds |
| 10. AIG Bank Insured Deposit Account |
25. First Citizens Bank Insured Deposits |
| 11. American Century Funds |
26. PNC Funds |
| 12. Goldman Sachs Funds |
27. M&T Bank Insured Deposits |
| 13. M&T Funds |
28. Bishop Street Funds |
| 14. Touchstone Funds |
29. Principal Bank Insured Deposit Account |
| 15. Banorte Funds |
30. Victory Funds |
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