Matrix Trust Company, a subsidiary of Broadridge Financial Solutions, Inc. (NYSE:BR), today announced the launch of a series of new index collective investment trusts (CITs), powered by Northern Trust Investments, Inc. The new CITs will invest in Northern Trust’s Aggregate Bond Index, S&P 500 Index and ACWI Ex-US Index collective investment trusts, to offer clients low-cost beta exposure. The CITs were created by Matrix Trust and built upon Matrix Trust’s existing offerings managed by sub-advisors. The index CITs have expense ratios of 2 bps, 4 bps, and 6 bps for the large cap index, bond index, and non-US index funds, respectively. Matrix Trust expanded its collective investment trust business in 2019 by acquiring TD Ameritrade Trust Company’s CIT business as part of its strategy to add additional capabilities for Matrix Trust customers and launch more funds with potential sub-advisors in the future.

Source: The North Africa Journal November 07, 2024 11:18 UTC