CIBC Mellon has launched an asset servicing solution for platform-traded funds (PTFs) on NEO Connect, a new low-cost distribution channel accessible to all investors, asset managers and their dealers. PTFs are typically a class or series of an existing investment fund that investors can buy or sell on the NEO Connect platform, at an end-of-day NAV. CIBC Mellon collaborated with NEO and other industry players to create the first platform-traded fund processing solution for this made-in-Canada product.
