Pershing Adds New Advisory and Institutional Share Classes to its FundVest® Platform

November 28, 2014

JERSEY CITY, N.J. - Pershing LLC, a BNY Mellon company, today announced it has added new advisory and institutional share classes from nine fund families to its FundVest® no-transaction-fee mutual fund platform. The latest additions to FundVest enable advisors to provide investors with more choices of no-transaction-fee funds.

Pershing has responded to client and investor demand for more choice and lower-fees by adding 435 lower cost advisory and institutional class funds this year including 271 funds from the new mutual fund families announced today. This increases the total number of advisory and institutional share class funds in the FundVest Institutional program to 1,385 from 950 representing a total of 24 fund families.

“We’re seeing a growing number of firms migrating from the retail share class to less-expensive institutional shares in advisory programs, with particular interest in a no-transaction-fee platform,” said Sandy Bolton, managing director of financial solutions at Pershing. “These share class additions to FundVest translate into a true competitive advantage for Pershing clients since it is uncommon for institutional and advisory share classes to be offered on a no-transaction-fee platform. We are also pleased to see FundVest cross the $100 billion asset level, a strong indication of the growing interest in the no-transaction-fee platform.”

The new additions to FundVest include share classes from:

  • 361 Capital
  • Baron
  • Deutsche Funds
  • Hartford Funds
  • Forward
  • Legg Mason
  • Pacific Life
  • Pear Tree
  • Prudential Investments

“The new additions to FundVest reflect Pershing’s long-term commitment to offering solutions that meet the evolving needs of clients as they continue to develop their advisory businesses,” said Bolton. “We expect to continue adding more funds in the future.” Through the FundVest platform Pershing clients have access to FundVest 200™, a research-driven list of no-transaction-fee funds and accompanying research reports. Launched earlier this year, FundVest 200™ represents approximately 40 investment categories, including non-traditional liquid alternative asset classes. The list is designed to help advisors with fund selections in the rapidly growing rep-as-portfolio manager programs.

About Pershing

Pershing and its affiliates provide global financial business solutions to advisors, asset managers, broker-dealers, family offices, registered investment advisor firms and wealth managers. A financial services firm located in 23 offices worldwide, Pershing provides business-to-business solutions to clients representing 6 million active investor accounts on the U.S. platform. Pershing affiliates are members of every major U.S. securities exchange, and its international affiliates are members of the Deutsche Börse, Australian Stock Exchange, Irish Stock Exchange, London Stock Exchange and Toronto Stock Exchange. Pershing LLC (member FINRA/NYSE/SIPC) is a BNY Mellon company. Additional information is available on pershing.com, or follow us on Twitter @Pershing.

About BNY Mellon

BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of June 30, 2016, BNY Mellon had $29.5 trillion in assets under custody and/or administration, and $1.7 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.