The Bank of New York Mellon’s subsidiary Pershing has announced new solutions designed to help broker-dealers and advisers capitalize on the opportunities in the fast-growing Latin American market.
Lockwood Offshore Asset Allocation Portfolios, launched today, will provide investors domiciled in Argentina, Brazil and Mexico with a series of risk-based, multi-style professionally managed portfolios.
The portfolios employ an institutional investment approach that seeks to deliver consistent, risk-controlled returns over the long-term and are managed on a fully discretionary basis.
Meanwhile, Offshore Flex, set to launch in the fourth quarter, will deliver a flexible mutual fund program for both fee- and commission-based environments. The solution will not have program minimums or short-term holding periods, nor will it have any ticket charges, allowing more money to work within the investment and reducing the cost of doing business for the adviser.
“We see continued growth in offshore assets on our platform, with the fastest growth coming from Latin America,” said John Ward, managing director of global client relationships at Pershing. “Industry consolidation, an inflow of new advisers to independent broker-dealers, and increased investor allocation to investments outside of domestic markets are creating new opportunities for our clients.”
Latin American assets on the Pershing platform have grown more than 35 percent since 2016, reaching more than $90 billion in April.
