In its announcement, AST said the offering will include large-cap, mid-cap, small-cap, emerging markets, international, equity, short-term and investment-grade bond funds choices. The company noted that collective funds operate similarly to mutual funds and address the trading needs of daily valued retirement plans.
The collective funds are available for trading through FundSERV, the mutual fund clearing platform for the National Securities Clearing Corporation (NSCC), according to the announcement. AST has initially offered the funds through several retirement platforms and bundled plan providers, and expects to increase the number offering the funds.
AST Trust Company, a division of American Stock Transfer & Trust Company, is an independent trust company that provides directed trustee, trust administration and back-office services to financial advisors who serve individuals, families, companies, foundations, organizations and financial institutions. The company’s Web site is www.asttrustco.com .
« United Skipping Fall Pension Payment