The Bank of New York Mellon's Pershing Unit Adds Seven Industry-Leading Fund Companies to Nexus Funds
May 26 2009 - 8:00AM
PR Newswire (US)
LONDON, May 26 /PRNewswire-FirstCall/ -- Pershing Limited, an
affiliate of Pershing LLC and a subsidiary of The Bank of New York
Mellon Corporation, announced today that seven new mutual fund
providers have been added to its Nexus Funds solution. 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 solution 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. Martin
McHarg, director of product management at Pershing Limited, said,
"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. We will continue to
expand our Nexus Funds platform to provide our clients with the
solutions they need to serve investors." Pershing Limited provides
broker-dealers, asset managers, intermediary firms, IFAs, and
financial institutions across Europe with a comprehensive range of
products, services, and solutions including retail clearing, fully
disclosed institutional global clearing, broker services, and
execution services. Established in London in 1987, Pershing Limited
and its subsidiary, Pershing Securities Limited, are members of the
London Stock Exchange and Euroclear UK & Ireland. Pershing
Limited has direct memberships with LCH.Clearnet and SWX Europe.
Pershing Securities Limited is a member of Deutsche Borse, Eurex
Clearing, and Clearstream. Pershing Limited is an affiliate of
Pershing LLC, a leading global provider of financial business
solutions to more than 1,150 institutional and retail financial
organisations and independent investment advisers who collectively
represent over five million active investors. Pershing LLC (member
FINRA/NYSE/SIPC) is a member of every major U.S. securities
exchange, and a subsidiary of The Bank of New York Mellon
Corporation. Additional information is available at
http://www.pershing.co.uk/. The Bank of New York Mellon Corporation
is a global financial services company focused on helping clients
manage and service their financial assets, operating in 34
countries and serving more than 100 markets. The company is a
leading provider of financial services for institutions,
corporations and high-net-worth individuals, providing superior
asset management and wealth management, asset servicing, issuer
services, clearing services and treasury services through a
worldwide client-focused team. It has $19.5 trillion in assets
under custody and administration, $881 billion in assets under
management, services more than $11 trillion in outstanding debt and
processes global payments averaging $1.8 trillion per day.
Additional information is available at http://www.bnymellon.com/.
DATASOURCE: The Bank of New York Mellon Corporation CONTACT:
Susannah Graham, +44(0)20-7864-8924, , for The Bank of New York
Mellon Corporation Web Site: http://www.bnymellon.com/
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