Hand Benefits & Trust (HB&T) has gone live on the Nasdaq Fund Network (NFN) with over 30 Collective Investment Trust (CIT) tickers and associated CUSIP numbers.
As a subsidiary of BPAS, HB&T provides collective trust administration specialising in retirement plans for investment management companies, which are valued and traded through the National Securities Clearing Corporation’s platform.
Collective funds provide low expense ratios, transparent pricing, and fund holding flexibility and transparency for retirement plan participants, sponsors, and service providers.
NFN expanded its coverage to include CITs to facilitate increased market transparency, allowing investors to access investment performance information via institutional market data platforms and financial web portals.
David Hand, CEO of HB&T, commented: “Wide adoption of CITs in not just large plans, but all plans, is vital to the success of the retirement plan industry. Barriers to entry exist in smaller plans where it is key for them to have access to all retirement platforms, creative share class design, and information equal to other securities. With the latter just accomplished, HB&T continues to be a market leader in CIT distribution.”
Barry Kublin, CEO of BPAS, added: “The HB&T model was built to seamlessly integrate fund administration services, transfer agency services, and trustee services. The combination drives process efficiency that produces cost savings and improves quality. Less moving parts simplifies arrangements for investment professionals and their clients. When it comes to designing, delivering and operating CITs, no one has more experience than the BPAS family of trust companies.”
