LONDON, January 18, 2011 — Pershing Limited, a BNY Mellon company, announced today that it has further enhanced its Nexus Funds solution with the addition of five fund providers. The additions of Artemis Fund Managers, Baillie Gifford & Co, JP Morgan Funds, Marlborough Fund Managers and Old Mutual Fund Managers bring the total number of fund providers to 43 and the total number of funds available to 1400.
Nexus Funds is a straight-through processing, no transaction fee mutual fund solution which simplifies trading and investing for Pershing clients and their investors. Dealing, settlement and custody fees on new assets are waived for eligible deals that utilise the solution. For funds traded through the Nexus Funds solution, Pershing offers guaranteed contractual settlement and consolidated trailer fee payments as well as a single access point to global funds, reducing time delays, potential for errors, and the overall cost of fund dealing.
Lloyd Williamson, managing director, Product and Client Technology Solutions at Pershing Limited said, "The addition of five more fund providers to our Nexus Funds platform demonstrates our commitment to offering our clients greater access to investment solutions to help their investors meet their financial goals. We look forward to further expanding our Nexus Funds and the choices it offers to our clients."
The Nexus Funds solution is fully integrated with Pershing's proprietary technology platform, Nexus, which provides Pershing's clients with a range of investment solutions to support their front to back office business requirements.
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 trading 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 memberships with LCH.Clearnet EquityClear 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 1,500 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 www.pershing.co.uk.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon 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 $24.4 trillion in assets under custody and administration and $1.14 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available at www.bnymellon.com.