Pershing has rolled out its long-awaited select list of mutual funds for its BD clients just in time for its annual INSITE client conference. Actually, the platform went live last Friday, or six days ago.
The list was good news for 60 fund complexes that won spots for at least one of their funds (Pershing executives pegged the number of families at 68, but some complexes such as Legg Mason offer multiple fund families).
The new FundVest
200 list is not exactly two hundred (it covers 211). It is intended as a one-stop preferred list for BDs that do not have their own due diligence capabilities or would prefer to use the resources of BNY Mellon, Pershing's parent company.
, Legg Mason
and T. Rowe Price
were all big winners in placing funds on the list.
Notably absent is Dreyfus
(obviously Pershing is steering clear of any conflicts of interest). Rival custodians Schwab and Fidelity also failed to place any funds on the list.
|Fund Complexes on the Pershing FundVest 200 List|
|Fund Complex||Spots Won|
|T. Rowe Price||15|
|Payden & Rygel||3|
|John Hancock Investments||3|
|Hotchkiss and Wiley||1|
|Source: MFWire Intelligence|
Stay ahead of the news ... Sign up for our email alerts now