Mutual Fund
Mutual Fund Programs
FundVest® Servicing Fees
Pershing may receive servicing fees from mutual funds listed below to participate in Pershing's mutual fund no-transaction-fee program, FundVest, in lieu of clearance charges to your financial organization. Participation by your financial organization in this program is optional and your financial organization may share with Pershing in such fees. These fees may be considered revenue sharing and are a significant source of revenue for Pershing and may be a significant source of revenue for your financial organization. These fees are paid in accordance with an asset-based formula. The funds listed below are in order of 2007 gross dollar payments to Pershing from highest to lowest.FundVest
1. Assetmark Funds
2. UBS Funds
3. Third Avenue Funds
4. Russell Funds
5. Oakmark Funds
6. Royce Funds
7. Columbia Funds
8. American Century Funds
9. Allianz Funds
10. Goldman Sachs Funds
11. Loomis Sayles Funds
12. First Eagle Funds
13. Excelsior Funds
14. Baron Funds
15. Matthews Funds
16. Marsico Funds
17. Julius Baer Funds
18. Eaton Vance Funds
19. Thornburg Funds
20. Dreyfus Funds
21. Guardian Funds
22. Profunds
23. TCW Galileo Funds
24. AIM Funds
25. DWS Funds
26. Pioneer Funds
27. Ariel Funds
28. Wells Fargo Advantage Funds
29. Blackrock Funds
30. Keeley Funds
31. Wasatch Funds
32. Icon Funds
33. U.S. Global Investors
34. Principal Funds
35. Selected Funds
36. Cohen & Steers Funds
37. SSGA Funds
38. Muhlenkamp Fund
39. Managers Funds
40. Nuveen Funds
41. Clipper Funds
42. Gabelli Funds
43. USAA Funds
44. JP Morgan Funds
45. Gateway Funds
46. Aston Funds
47. Federated Funds
48. Mainstay Funds
49. Value Line Funds
50. FBR Funds
51. American Beacon Funds
52. Jensen Portfolio
53. Harbor Funds
54. Northern Funds
55. Metropolitan Funds
56. Heritage Funds
57. Buffalo Funds
58. U.S. Global Investors
59. Touchstone Funds
60. Glenmede Funds
61. Advisors Inner Circle Funds
62. Westcore Funds
63. Rydex Funds
64. Brandywine Funds
65. Hennessy Funds
66. Heartland Funds
67. Merger Fund
68. Hotchkis & Wiley Funds
69. Putnam Funds
70. Nationwide Funds
71. Lazard Funds
72. FPA Funds
73. Prudent Funds
74. Pax World Funds
75. Highland Funds
76. T. Rowe Price Funds
77. Quantitative Funds
78. Hodges Funds
79. Permanent Funds
80. Parnassus Funds
81. Forward Funds
82. Rainier Funds
83. Harris Insight Funds
84. Old Mutual Funds
85. Kensington Funds
86. Credit Suisse Warburg Pincus
87. John Hancock Funds
88. Manning & Napier Funds
89. Transamerica Funds
90. Marshall Funds
91. Century Funds
92. William Blair Funds
2. UBS Funds
3. Third Avenue Funds
4. Russell Funds
5. Oakmark Funds
6. Royce Funds
7. Columbia Funds
8. American Century Funds
9. Allianz Funds
10. Goldman Sachs Funds
11. Loomis Sayles Funds
12. First Eagle Funds
13. Excelsior Funds
14. Baron Funds
15. Matthews Funds
16. Marsico Funds
17. Julius Baer Funds
18. Eaton Vance Funds
19. Thornburg Funds
20. Dreyfus Funds
21. Guardian Funds
22. Profunds
23. TCW Galileo Funds
24. AIM Funds
25. DWS Funds
26. Pioneer Funds
27. Ariel Funds
28. Wells Fargo Advantage Funds
29. Blackrock Funds
30. Keeley Funds
31. Wasatch Funds
32. Icon Funds
33. U.S. Global Investors
34. Principal Funds
35. Selected Funds
36. Cohen & Steers Funds
37. SSGA Funds
38. Muhlenkamp Fund
39. Managers Funds
40. Nuveen Funds
41. Clipper Funds
42. Gabelli Funds
43. USAA Funds
44. JP Morgan Funds
45. Gateway Funds
46. Aston Funds
47. Federated Funds
48. Mainstay Funds
49. Value Line Funds
50. FBR Funds
51. American Beacon Funds
52. Jensen Portfolio
53. Harbor Funds
54. Northern Funds
55. Metropolitan Funds
56. Heritage Funds
57. Buffalo Funds
58. U.S. Global Investors
59. Touchstone Funds
60. Glenmede Funds
61. Advisors Inner Circle Funds
62. Westcore Funds
63. Rydex Funds
64. Brandywine Funds
65. Hennessy Funds
66. Heartland Funds
67. Merger Fund
68. Hotchkis & Wiley Funds
69. Putnam Funds
70. Nationwide Funds
71. Lazard Funds
72. FPA Funds
73. Prudent Funds
74. Pax World Funds
75. Highland Funds
76. T. Rowe Price Funds
77. Quantitative Funds
78. Hodges Funds
79. Permanent Funds
80. Parnassus Funds
81. Forward Funds
82. Rainier Funds
83. Harris Insight Funds
84. Old Mutual Funds
85. Kensington Funds
86. Credit Suisse Warburg Pincus
87. John Hancock Funds
88. Manning & Napier Funds
89. Transamerica Funds
90. Marshall Funds
91. Century Funds
92. William Blair Funds
93. Tamarack Funds
94. Alger Funds
95. Turner Funds
96. Sit Funds
97. Yacktman Funds
98. Phoenix Funds
99. Victory Funds
100. Wells S & P Funds
101. Amana Funds
102. Permanent Funds
103. Fam Funds
104. Ameristock Funds
105. CRM Funds
106. Legg Mason / Western Asset
107. Foreside Funds
108. First American Funds
109. Domini Social Funds
110. Chase Funds
111. Firsthand Funds
112. Skyline Funds
113. Wilshire Funds
114. Laudus Rosenberg Funds
115. Perritt Funds
116. Needham Funds
117. Direxion Funds
118. Navellier Funds
119. BNY Hamilton Funds
120. Citizens Funds
121. North Track Funds
122. Franklin Templeton Offshore
123. Mosaic Funds
124. Mutuals.Com Funds
125. Brazos Funds
126. Nicholas Funds
127. MFS Meridian Offshore Funds
128. Alpha/Beta Funds
129. 1st Source Monogram Funds
130. Kelmoore Funds
131. Hallmark Funds
132. Arbitrage Funds
133. Highmark Funds
134. Japan Fund
135. Jacob Internet Fund
136. Wright Funds
137. The World Funds
138. Bjurman Funds
139. Oak Value Fund
140. Marketocracy Funds
141. Henssler Fund
142. Unified Fund Services
143. Sentinel Funds
144. Amidex Funds
145. Fiduciary Family Of Funds
146. NC Shareholder Services
147. Adelante Funds
148. Rockland Funds
149. Guinness Atkinson Funds
150. Fund*X Funds
151. Burnham Funds
152. Atlantic Whitehall Funds
153. Wall Street Fund
154. Legg Mason / Western Asset O
155. TA Idex Funds
156. Empiric Funds
157. Munder Funds
158. MFS Meridian Offshore Funds
159. ND Holdings Funds
160. BB&T Funds
161. Womens Fund
162. Calamos Funds
163. Advisorone Funds
164. Roanoke Funds
165. Schroder Offshore Funds
166. PmFm Funds
167. Midas Funds
168. Putnam Offshore Funds
169. Quaker Funds
170. Allegiant Funds
171. Van Wagoner Funds
172. Piedmont Fund
173. MTB Funds
174. Summit Funds
175. Evergreen Funds
176. Davis Offshore Funds
177. Paradigm Funds
178. Dunham Funds
179. American Independence Funds
180. Epoch Funds
181. Lifetime Achievement Fund
182. Seligman Funds
183. Snow Funds
Networking and Omnibus Processing Fees
Pershing receives operational reimbursements from mutual funds in the form of networking or omnibus processing fees. These fees are based on a flat fee per holding and are reimbursed to Pershing for the work it performs on behalf of the funds, which may include but is not limited to subaccounting services, dividend calculation and posting, accounting, reconciliation, client confirmation and statement preparation and mailing, and tax statement preparation and mailing. These fees are a significant source of revenue for Pershing. The funds listed below are in order of 2007 gross dollar payments to Pershing from highest to lowest.1. American Funds
2. Oppenheimer Funds
3. Franklin Templeton Funds
4. AIM Funds
5. Fidelity Funds
6. Van Kampen Funds
7. Putnam Funds
8. MFS Funds
9. Alliance Global
10. Federated Funds
11. Goldman Sachs Funds
12. Columbia
13. Davis Funds
14. Allianz Funds
15. Hartford Funds
16. Eaton Vance Funds
17. Blackrock Funds
18. Dreyfus Funds
19. DWS Funds
20. Calamos Funds
21. Thornburg Funds
22. Pioneer Funds
23. Janus Funds
24. Principal Funds
25. John Hancock Funds
26. First Eagle
27. ING Pilgrim Funds
28. Russell Funds
29. Mainstay Funds
30. Evergreen Funds
31. Prudential Funds
32. Calvert Funds
33. Matthews Funds
34. Lord Abbett Funds
35. Royce Funds
36. Waddell Funds
37. JP Morgan Funds
38. Delaware Funds
39. Phoenix Funds
40. Natixis Funds
41. Munder Funds
42. Artisan Funds
43. Profunds
44. Seligman Funds
45. Sentinel Funds
46. IDEX Funds
47. Nuveen Funds
48. Selected Funds
49. Internet / Kinetics
50. AXA Enterprise Funds
51. Harbor Funds
52. Kensington Funds
53. Heritage Funds
54. Rydex Funds
55. FPA Funds
56. Touchstone Funds
57. Clipper Funds
58. Guardian Funds
59. Alger Funds
60. Old Mutual Funds
61. Security Funds
62. Wells Fargo Advantage Funds
63. American Century Funds
64. Franklin Templeton Offshore
65. First American Funds
66. Weitz Funds
67. Wells S&P Funds
68. Members Funds
69. Managers Funds
70. Nationwide Funds
71. Legg Mason Partners Funds
72. Quantitative Funds
73. Tweedy Browne Funds
74. MFS Meridian Offshore Funds
75. Neuberger & Berman Funds
76. Forward Funds
77. Allegiant Funds
78. William Blair Funds
79. Primecap Odyssey
80. Hotchkis & Wiley Funds
81. TIAA Cref Funds
82. Brandywine Funds
83. FMI Funds
84. Schwab Funds
85. Third Avenue Funds
86. PF Funds
87. UBS Funds
88. Quaker Funds
89. GE Funds
90. Gabelli Funds
91. Amana Funds
92. Legg Mason / Western Asset
93. Gartmore / Nationwide
94. Legg Mason Funds
95. Fidelity Offshore Funds
96. API Funds
97. Henderson Global Funds
98. Kelmoore Funds
99. Oak Funds
100. Van Eck Funds
101. Perritt Funds
102. ICAP Funds
103. Morgan Stanley
104. Olstein Funds
105. James Funds
106. Timothy Plan Funds
107. Masters Select Funds
108. Credit Suisse Warburg Pincus
109. Torray Funds
110. Nicholas Funds
111. Jensen Funds
112. Elfun Funds
2. Oppenheimer Funds
3. Franklin Templeton Funds
4. AIM Funds
5. Fidelity Funds
6. Van Kampen Funds
7. Putnam Funds
8. MFS Funds
9. Alliance Global
10. Federated Funds
11. Goldman Sachs Funds
12. Columbia
13. Davis Funds
14. Allianz Funds
15. Hartford Funds
16. Eaton Vance Funds
17. Blackrock Funds
18. Dreyfus Funds
19. DWS Funds
20. Calamos Funds
21. Thornburg Funds
22. Pioneer Funds
23. Janus Funds
24. Principal Funds
25. John Hancock Funds
26. First Eagle
27. ING Pilgrim Funds
28. Russell Funds
29. Mainstay Funds
30. Evergreen Funds
31. Prudential Funds
32. Calvert Funds
33. Matthews Funds
34. Lord Abbett Funds
35. Royce Funds
36. Waddell Funds
37. JP Morgan Funds
38. Delaware Funds
39. Phoenix Funds
40. Natixis Funds
41. Munder Funds
42. Artisan Funds
43. Profunds
44. Seligman Funds
45. Sentinel Funds
46. IDEX Funds
47. Nuveen Funds
48. Selected Funds
49. Internet / Kinetics
50. AXA Enterprise Funds
51. Harbor Funds
52. Kensington Funds
53. Heritage Funds
54. Rydex Funds
55. FPA Funds
56. Touchstone Funds
57. Clipper Funds
58. Guardian Funds
59. Alger Funds
60. Old Mutual Funds
61. Security Funds
62. Wells Fargo Advantage Funds
63. American Century Funds
64. Franklin Templeton Offshore
65. First American Funds
66. Weitz Funds
67. Wells S&P Funds
68. Members Funds
69. Managers Funds
70. Nationwide Funds
71. Legg Mason Partners Funds
72. Quantitative Funds
73. Tweedy Browne Funds
74. MFS Meridian Offshore Funds
75. Neuberger & Berman Funds
76. Forward Funds
77. Allegiant Funds
78. William Blair Funds
79. Primecap Odyssey
80. Hotchkis & Wiley Funds
81. TIAA Cref Funds
82. Brandywine Funds
83. FMI Funds
84. Schwab Funds
85. Third Avenue Funds
86. PF Funds
87. UBS Funds
88. Quaker Funds
89. GE Funds
90. Gabelli Funds
91. Amana Funds
92. Legg Mason / Western Asset
93. Gartmore / Nationwide
94. Legg Mason Funds
95. Fidelity Offshore Funds
96. API Funds
97. Henderson Global Funds
98. Kelmoore Funds
99. Oak Funds
100. Van Eck Funds
101. Perritt Funds
102. ICAP Funds
103. Morgan Stanley
104. Olstein Funds
105. James Funds
106. Timothy Plan Funds
107. Masters Select Funds
108. Credit Suisse Warburg Pincus
109. Torray Funds
110. Nicholas Funds
111. Jensen Funds
112. Elfun Funds
113. Riversource
114. Aquila Funds
115. Unified Fund Services
116. Foreside Funds
117. Causeway Funds
118. Jackson National Funds
119. The World Funds
120. Fund*X Funds
121. MMA Praxis Funds
122. Paxworld Funds
123. Thompson Plumb Funds
124. Guinness Atkinson Funds
125. Manning & Napier Funds
126. Baron Funds
127. Domini Social Funds
128. NC Shareholder Services
129. Tamarack Funds
130. Payden & Rygel Funds
131. First Investors Funds
132. NI Funds
133. Queens Road Funds
134. Fifth Third Funds
135. Arrow Funds
136. Century Funds
137. PMC Funds
138. Janus Offshore Funds
139. Mutuals.Com Funds
140. Holland Fund
141. Schroder Offshore Funds
142. TFS Funds
143. Greenspring Funds
144. American Performance Funds
145. Popular Funds
146. Wilshire Target Funds
147. Epoch Funds
148. Driehaus Funds
149. DWS Offshore Funds
150. Wasatch Funds
151. Ralph Parks Portfolios
152. Lifetime Achievement Fund
153. Advisorone Funds
154. Chesapeake Funds
155. Rising Dividend Funds
156. Schroder Funds
157. Cullen Funds
158. AFBA Funds
159. North Country Funds
160. Actinver Mexico Funds
161. Thomas White Funds
162. Osterweis Funds
163. Eaton Vance Offshore Funds
164. Seligman Offshore Funds
165. Investec Offshore Funds
166. 1st Source Monogram Funds
167. Boyar Funds
168. Putnam Offshore Funds
169. Scudder Offshore Funds
170. BNY Hamilton Funds
171. Matrix Funds
172. Womens Fund
173. Dunham Funds
174. American Independence Funds
175. EII Realty Funds
176. Hancock Horizon
177. Reynolds Funds
178. Presidio Funds
179. Wilmington Funds
180. Commonwealth Funds
181. Sollertia Funds
182. Constellation Funds
183. Leaders Fund
184. Citizens Funds
185. Aberdeen Offshore Funds
186. Transamerica Funds
187. Baird Funds
188. Palantir Funds
189. Paradigm Funds
190. Snow Funds
191. Advisors Inner Circle Funds
192. Pennsylvania Avenue Fund
193. PmFm Funds
194. XTF Funds
195. Gaming & Casino Fund
196. Conestoga Funds
197. Seascape Funds
198. Lakeshore Funds
199. Markman Multifunds
200. JP Morgan Offshore Funds
201. Summit Funds
202. Nakoma Funds
203. Stewart Capital
204. Nations Offshore Funds
205. Catholic Funds
206. Keystone Funds
207. Prumerica Funds
208. High Pointe Funds
209. CRA Funds
210. Claymore Funds
211. Shepherd Street Funds
212. Stephens Funds
213. The Piedmont Fund
214. Ascentia Funds
215. Roge Partners
216. Piedmont Funds
217. The Blue Funds
218. Catalyst Funds
219. Centurion
220. AMM Funds
221. Skyhawk Funds
222. Smart Growth Funds
223. Sparx Funds
224. Top Flight Funds
114. Aquila Funds
115. Unified Fund Services
116. Foreside Funds
117. Causeway Funds
118. Jackson National Funds
119. The World Funds
120. Fund*X Funds
121. MMA Praxis Funds
122. Paxworld Funds
123. Thompson Plumb Funds
124. Guinness Atkinson Funds
125. Manning & Napier Funds
126. Baron Funds
127. Domini Social Funds
128. NC Shareholder Services
129. Tamarack Funds
130. Payden & Rygel Funds
131. First Investors Funds
132. NI Funds
133. Queens Road Funds
134. Fifth Third Funds
135. Arrow Funds
136. Century Funds
137. PMC Funds
138. Janus Offshore Funds
139. Mutuals.Com Funds
140. Holland Fund
141. Schroder Offshore Funds
142. TFS Funds
143. Greenspring Funds
144. American Performance Funds
145. Popular Funds
146. Wilshire Target Funds
147. Epoch Funds
148. Driehaus Funds
149. DWS Offshore Funds
150. Wasatch Funds
151. Ralph Parks Portfolios
152. Lifetime Achievement Fund
153. Advisorone Funds
154. Chesapeake Funds
155. Rising Dividend Funds
156. Schroder Funds
157. Cullen Funds
158. AFBA Funds
159. North Country Funds
160. Actinver Mexico Funds
161. Thomas White Funds
162. Osterweis Funds
163. Eaton Vance Offshore Funds
164. Seligman Offshore Funds
165. Investec Offshore Funds
166. 1st Source Monogram Funds
167. Boyar Funds
168. Putnam Offshore Funds
169. Scudder Offshore Funds
170. BNY Hamilton Funds
171. Matrix Funds
172. Womens Fund
173. Dunham Funds
174. American Independence Funds
175. EII Realty Funds
176. Hancock Horizon
177. Reynolds Funds
178. Presidio Funds
179. Wilmington Funds
180. Commonwealth Funds
181. Sollertia Funds
182. Constellation Funds
183. Leaders Fund
184. Citizens Funds
185. Aberdeen Offshore Funds
186. Transamerica Funds
187. Baird Funds
188. Palantir Funds
189. Paradigm Funds
190. Snow Funds
191. Advisors Inner Circle Funds
192. Pennsylvania Avenue Fund
193. PmFm Funds
194. XTF Funds
195. Gaming & Casino Fund
196. Conestoga Funds
197. Seascape Funds
198. Lakeshore Funds
199. Markman Multifunds
200. JP Morgan Offshore Funds
201. Summit Funds
202. Nakoma Funds
203. Stewart Capital
204. Nations Offshore Funds
205. Catholic Funds
206. Keystone Funds
207. Prumerica Funds
208. High Pointe Funds
209. CRA Funds
210. Claymore Funds
211. Shepherd Street Funds
212. Stephens Funds
213. The Piedmont Fund
214. Ascentia Funds
215. Roge Partners
216. Piedmont Funds
217. The Blue Funds
218. Catalyst Funds
219. Centurion
220. AMM Funds
221. Skyhawk Funds
222. Smart Growth Funds
223. Sparx Funds
224. Top Flight Funds