Products January 25, 2011

Pershing Adds ING Funds to Platform

Mutual funds from ING Fund Services are now available to Pershing-affiliated broker/dealers (B/Ds) and registered investment advisers (RIAs).  
Reported by

Pershing LLC, a BNY Mellon company, announced that it has added ING Fund Services to FundVest, Pershing’s no-transaction-fee mutual fund platform. FundVest offers investors access to more than 3,700 mutual funds, managed by more than 230 fund companies; investors can buy, sell or exchange mutual funds through their financial intermediary without incurring regular transaction fees.

Sandy Motusesky, director of investment solutions in the product management and development group at Pershing, said, “The addition of ING Funds to our platform demonstrates our continued commitment to expanding our no-transaction fee mutual fund platform.”

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Pershing expanded its FundVest platform last November as well, by adding Janus and Pacific Life funds.   

Products January 25, 2011

Company Launches Emerging Markets ETFs

Global X Funds launched the Global X Russell Emerging Markets Growth ETF (Ticker: EMGX) and the Global X Russell Emerging Markets Value ETF (Ticker: EMVX).
Reported by

The Global X Russell Emerging Markets Growth ETF and the Global X Russell Emerging Markets Value ETF track the Russell Emerging Market MegaCap Growth Index and the Russell Emerging Market MegaCap Value Index, respectively.   

According to a press release, the Russell Emerging Market MegaCap Growth Index measures the performance of the mega-cap growth segment of the emerging markets equity universe, screened for those companies with higher price-to-book ratios and higher expected growth values. The Russell Emerging Market MegaCap Value Index measures the performance of the mega-cap value segment of the emerging markets equity universe, screened for those companies with lower price-to-book ratios and lower expected growth values.  

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