JERSEY CITY, N.J., November 11, 2013 — Pershing LLC, a BNY Mellon company, announced today that it is developing FundVest 200™, a new list of premier mutual funds that can help advisors construct portfolios for investors based on credible, institutional quality research. The funds that are selected for FundVest 200™, available on Pershing's no-transaction-fee mutual fund platform, will be selected by Lockwood Advisors, Inc., utilizing the BNY Mellon Manager Research Group's independent research process, and will be offered at no additional cost to Pershing broker-dealer and registered investment advisor clients.
"FundVest 200 will be driven by an institutional research process that focuses on qualitative factors such as a fund's organizational and personnel structure, its investment philosophy and its investment process," said Jamie Lewin, chief investment officer of Lockwood Advisors and head of manager research, BNY Mellon Investment Management. "We are seeking to identify mutual funds that we believe possess the necessary characteristics to potentially achieve anticipated investment outcomes for investors, not simply those with attractive historical returns."
As advisors are faced with an increased level of responsibility in due diligence around fund selection, FundVest 200 will provide an additional source of support—which may help advisors select the funds that best meet their clients' needs. The development of this solution is a direct result of an increasing number of advisors seeking additional resources as they continue to shift their business toward advisory.
"This initiative is a great example of providing value to our clients that goes beyond Pershing's traditional focus," said Sandy Motusesky Bolton, director, financial solutions, Pershing. "We are seeing a significant shift toward advisory and are adapting our financial solutions to meet evolving client needs. FundVest 200 helps support advisors as they grow their advisory business."
The first stage of the FundVest 200 rollout on the NetX360® platform will occur in the fourth quarter of this year and will allow advisors to view FundVest 200 funds. Each fund will have an accompanying report and Lockwood, in conjunction with the BNY Mellon Manager Research Group, will reevaluate the list on an ongoing basis. Lockwood will also host a periodic advisor call to discuss the FundVest 200 investment selections. In early 2014, Pershing expects to expand the FundVest 200 universe to encompass approximately 200 funds from approximately 40 investment categories, including non-traditional asset classes. No FundVest mutual funds managed by BNY Mellon affiliated investment managers were considered for inclusion in FundVest 200.
For more information on FundVest 200 visit http://www.pershing.com/broker_dealer/investment_solutions/fund_solutions.html.
Pershing and its affiliates provide global financial business solutions to over 1,600 financial organizations, broker-dealers, registered investment advisory firms, advisors, fund managers and asset managers who represent over 5.6 million active accounts. Located in 23 offices worldwide, Pershing delivers dependable operational support, robust trading services, flexible technology, an expansive array of investment solutions, practice management support and service excellence. Pershing is a member of every major U.S. securities exchange, and its international affiliates are members of the Deutsche Borse, 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.
Lockwood Advisors, Inc. (Lockwood) is an investment adviser registered in the United States under the Investment Advisers Act of 1940. Lockwood is an affiliate of Pershing LLC (Pershing), each wholly owned subsidiaries of The Bank of New York Mellon Corporation (BNY Mellon). Pershing LLC, member FINRA, NYSE, SIPC. SEC registration neither implies nor asserts the SEC or any state securities authority has approved or endorsed Lockwood or the contents of this document. In addition, SEC registration does not carry any official imprimatur or indication Lockwood has attained a particular level of skill or ability. The FundVest200 list is intended for use by your firm's investment committee and does not constitute investment advice from Lockwood to individual investors.
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 September 30, 2013, BNY Mellon had $27.4 trillion in assets under custody and/or administration, and $1.5 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 http://www.bnymellon.com/or follow us on Twitter @BNYMellon.