Pershing LLC, a subsidiary of Bank of New York Co. Inc., said Tuesday that it had added Washington Mutual's family of funds to its no-transaction-fee mutual fund program.
Pershing's FundVest mutual fund program offers investors access to more than 1,700 mutual funds, managed by nearly 150 fund companies. Through FundVest, investors can buy, sell, or exchange an array of load and no-load mutual funds without incurring normal transaction fees.
The WM Group of mutual funds is advised by WM Advisors Inc., distributed by WM Funds Distributor Inc., and sold through WM Financial Services Inc. - all affiliates of Washington Mutual Inc., the big Seattle thrift.
Pershing, which is based in Jersey City, is a global provider of clearing and financial services outsourcing to nearly 1,100 institutional and retail financial organizations and independent investment advisers who collectively represent nearly six million individual investors.
