BNY Mellon in ETF administration growth 06 January 2011London Reporter: Justin Lawson
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BNY Mellon Asset Servicing, the global leader in securities servicing, has exceeded $200 billion in exchange-traded fund (ETF) assets under administration, an increase of 46 percent since the beginning of 2010. BNY Mellon is the largest global administrator for ETFs in terms of funds serviced and sponsors supported, providing services to 400 products in the U.S. and nearly 500 total separate portfolios worldwide.
"Rapid innovation, growing investor interest in ETFs, the continuing upturn in the world's capital markets, and the demonstrated commitment that BNY Mellon has made to the ETF servicing business have all combined to drive this remarkable growth," said Joseph Keenan, managing director for BNY Mellon Asset Servicing and head of its global ETF services business.
Keenan noted ETFs that track emerging markets indices and those offering exposure to commodities and fixed income instruments were among the fastest growing segments of the global ETF services business. He added, "We expect this trend to continue. We will work closely with our clients and new sponsors to educate them about the features of ETFs.
"We will continue to invest in our industry-leading technology as we extend our capabilities to serve the widest array of ETFs and other exchange-listed products," said Keenan. "ETFs have demonstrated their growth potential on a global scale, and we believe BNY Mellon is uniquely positioned to support this rapidly expanding market."
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