SAN DIEGO, June 15, 2017 /PRNewswire/ -- BNY Mellon's
Pershing launched today its new no-transaction-fee (NTF)
exchange-traded fund (ETF) platform: FundVest® ETF. The
NTF platform requires no purchase minimums or holding period, and
will be available to all Pershing clients.
The solution complements Pershing's existing mutual fund NTF
platform, FundVest. It provides Pershing's clients with flexibility
to deliver a broad range of ETFs to investors while reducing
explicit costs.
"As the demand for ETFs continues to increase, we are pleased to
bring our clients a diverse selection of no-fee ETFs offered on an
independent, open architecture platform," said Justin Fay, Pershing's director of Financial
Solutions, responsible for Alternative Investments and ETFs. "This
new offering reaffirms our commitment to expanding the suite of
low-cost investment solutions available to our clients as they
continue to implement ETFs more frequently within portfolios in an
effort to more efficiently meet investor financial goals."
Inflows into ETFs on the Pershing platform increased 20 percent
in 2016, compared to the previous year. Further, in a recent
Pershing survey conducted by Beacon Strategies among 1,500
financial advisors, RIAs, and global wealth managers, more than
two-thirds of respondents who used ETFs said they intend to
increase their usage over the next 12 months.
FundVest ETF spans a diverse range of asset classes, featuring
funds from market-leading providers including Direxion, Guggenheim
Investments, PowerShares by Invesco, OppenheimerFunds, PIMCO,
Reality Shares, and SPDR® ETFs from State Street Global
Advisors. The platform will continue to grow and add new providers
over the coming months.
Pershing clients will have full access to the variety of funds
available on FundVest ETF via the ETF Center on
NetX360®. The ETF Center also features premium thought
leadership including articles and research through both
Morningstar® and Lipper, and provides tools that allow
advisors to search, screen and compare ETFs side by side.
About BNY Mellon's Pershing
BNY Mellon's Pershing and
its affiliates provide advisors, broker-dealers, family offices,
hedge fund and '40 Act fund managers, registered investment advisor
firms and wealth managers with a broad suite of global financial
business solutions. Many of the world's most sophisticated and
successful financial services firms rely on Pershing for clearing
and custody, investment and retirement solutions, technology,
enterprise data management, trading services, prime brokerage and
business consulting. Pershing helps clients improve profitability
and drive growth, create capacity and efficiency, attract and
retain talent, and manage risk and regulation. With a network of 23
offices worldwide, Pershing provides business-to-business solutions
to clients representing more than 6 million investor accounts
globally. 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 March 31, 2017,
BNY Mellon had $30.6 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.
SPDR® is a registered trademark of Standard & Poor's
Financial Services LLC (S&P) and has been licensed for use by
State Street Corporation. State Street Corporation's financial
products are not sponsored, endorsed, sold or promoted by S&P,
S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC,
their respective affiliates and third party licensors and none of
such parties make any representation regarding the advisability of
investing in such product(s) nor do they have any liability in
relation thereto, including for any errors, omissions, or
interruptions of any index.
Sanuber Grohe
+1 201 413 2247
sanuberbilguvar.grohe@pershing.com
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SOURCE BNY Mellon