BNY Mellon automates hedge fund admin 26 January 2012London Reporter: Anna Reitman
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BNY Mellon has enhanced its loan administration functionality to offer hedge funds and fund of hedge fund clients an automated solution with increased transparency.
The service will integrate BNY Mellon’s alternative investment and fixed income systems to provide an end-to-end administrative solution from pre-settlement to post-settlement services. Through proprietary technology, clients will have access to STP for trade instructions, security master creation, cash flows and loan specific information, gaining transparency of their syndicated loan portfolio. In addition, the firm is live with many of the loan market initiatives with DTCC and others which aid the reconciliation and settlements of this asset class.
Brian Ruane, BNY Mellon CEO of Alternative and Broker-Dealer Services, said, “By working closely with our corporate trust business, we have been able to develop a best of breed offering which addresses the specific needs of our clients allocating to fix income.”
Debra Baker, head of US Financial Institutions, BNY Mellon Corporate Trust, said, “These advanced reporting packages leverage our expertise in both alternative fund and syndicated loan administration to enable clients to better manage their portfolios and offer increased transparency to their clients.”
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