Pershing LLC, a BNY Mellon company, based In Jersey City, N.J., said the company is developing a new list of premier mutual funds that it is calling FundVest 200 and is building the new list – created from institutional investment management research to broker-dealers and advisors.
The BNY Mellon company says the FundVest 200 will enable advisors to construct portfolios for investors based on credible, institutional quality research
Funds selected for FundVest 200™, available on Pershing's no-transaction-fee mutual fund platform, will be selected by King of Prussia, Pa.-based affiliate Lockwood Advisors, Inc., utilizing the BNY Mellon Manager Research Group's independent research process. It will be offered at no additional cost to Pershing broker-dealer and registered investment advisor clients, the company said.
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"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."
The goal, according to the company, is to help advisors 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. it said.
"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.
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