BNY Mellon Named Largest Fund of Hedge Fund Administrator
Jan 29, 2013
LONDON, January 29, 2013 — BNY Mellon, the global leader in investment management and investment services, has been recognised as the world's largest Fund of Hedge Fund (FoHF) administrator in HFMWeek's bi-annual administrator survey.
BNY Mellon saw its FoHF assets under administration rise by $20 billion to $130.6 billion in the six months to October 2012, demonstrating considerable growth in what has been a challenging period for the FoHF industry, with overall assets under management down by 2%, falling from $1.09 trillion to $1.07 trillion.
Marina Lewin, global head of sales for BNY Mellon Alternative Investment Services, said: "We've been able to benefit from increasing moves toward outsourcing as funds of hedge funds continue to strengthen their operational infrastructure. The notable rise in our assets under administration the past six months reflects the quality of our service and technology offering, which enables clients to focus on generating investment returns in tough market conditions.
"Our ability to be a full service provider to FoHFs – which have expanded their products, services and distribution channels – has proven an effective differentiator for us. The alternatives industry continues to evolve from both a regulatory and investor perspective, and our focus remains on guiding clients through this change and supporting their business growth," Lewin added.
HFMWeek is an international publication serving the hedge fund community, read by over 5,500 alternative fund managers - predominantly CFOs and managing partners - and their key advisors across the globe. The survey covered all 64 administration firms in the fund of hedge fund space.
BNY Mellon is a leading administrator of alternative assets, including single manager hedge funds, funds of hedge funds, and private equity, with more than $575 billion of alternative assets under administration and custody and an extensive global presence. BNY Mellon also offers a wide range of cash management, foreign exchange, collateral management, corporate trust, and wealth management services to the alternative investment industry.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $26.7 trillion in assets under custody and administration and $1.4 trillion in assets under management, services $11.4 trillion in outstanding debt and processes global payments averaging $1.5 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn more at www.bnymellon.com or follow us on Twitter @BNYMellon.
This press release is issued by The Bank of New York Mellon to members of the financial press and media.
All information and figures source BNY Mellon unless otherwise stated as at September 30, 2012.
The Bank of New York Mellon, London Branch, registered in England and Wales with FC005522 and BR000818
Branch office: One Canada Square, London E14 5AL
Authorised and regulated in the UK by the Financial Services Authority.