Pershing, which is part of BNY Mellon, has added 11 mutual fund firms to its Nexus Funds service.

The new firms on the system are F&C Fund Management; First State Investments (UK); Ignis Asset Management; Jupiter Unit Trust Managers and Lazard Asset Management. Other recent additions bring the total number of fund providers to 38 and the total number of funds available to 1,169.

Nexus Funds is a straight-through processing, no transaction fee mutual fund solution which simplifies trading and investing for Pershing clients and their investors, the firm said. 

Pershing Limited provides services to broker-dealers, asset managers, intermediary firms, independent financial advisors and financial institutions across Europe. While much of its business continues to grow, the firm has also recently adjusted some of its services for firms dealing with expat US clients. It will cease to provide financial custody services for US persons where Pershing Nominees is the registered custodian. The change in the existing arrangement is due to be completed by January 2011.