BNY Mellon Adds Securities Lending to Motley Fool Mandate

BNY Mellon has extended its fund services mandate with Motley Fool Asset Management, the investment division of the financial media company Motley Fool, and the mandate will now include securities lending for the company's three U.S.-based mutual funds.
By Jake Safane(2147484770)
BNY Mellon has extended its fund services mandate with Motley Fool Asset Management, the investment division of the financial media company Motley Fool, and the mandate will now include securities lending for the company’s three U.S.-based mutual funds.

The funds, available to retail investors, have a total of $575 million in AuM. The first fund, a global mid-cap fund, launched in 2009. Since then, BNY Mellon has been providing fund accounting, fund administration, transfer agency and custody for Motley Fool, including for the two other funds which launched in 2010 and 2011. This new agreement continues BNY Mellon’s service offerings while adding securities lending.

“We have expanded our relationship with BNY Mellon because of its strong client services organization and its flexible technology,” says Peter Jacobstein, president of Motley Fool Asset Management. “In addition, BNY Mellon provided crucial services that enabled us to launch our first fund in 2009 and provided important support as we added new offerings and grew our assets.”

“We continue to invest in service capabilities and technology to meet client needs at a growing number of fund complexes,” says Kenneth Roehner, managing director and head of U.S. financial institutions at BNY Mellon. “We see more groups step up their securities lending activities as the markets continue their recovery from the financial crisis of 2008.”

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