BNY Mellon selected by Formula Investing Funds 26 July 2011New York Reporter: Ben Wilkie
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BNY Mellon Asset Servicing has been selected to provide its mutual fund turnkey solutions product, FundVantage Trust, which includes fund accounting and administration, custody, transfer agency, and underwriter services, to Gotham Asset Management, LLC.
Gotham Asset Management, LLC, based in New York City, is utilising FundVantage Trust to launch its Formula Investing Funds, which comprise two US equity and two international equity mutual funds.
"By using BNY Mellon's services, we were able to launch our mutual funds more quickly and less expensively than if we had to build out our own infrastructure," said Blake Darcy, chief executive officer of Gotham Asset Management.
"We continue to see strong demand for our FundVantage mutual funds solutions product," said Jay Nusblatt, head of US fund accounting and administration at BNY Mellon Asset Servicing. "This product enables investment advisers to create their own mutual funds within a turnkey solution and is ideal for investment advisers and sponsors that want to focus on managing investments and distribution, while outsourcing most of the fund administration, processing and regulatory support functions to a team of experienced service providers."
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