BNY Mellon Alternative Investment Services (AIS), a major hedge fund service provider, has been named the largest global administrator of alternative UCITS funds in the inaugural administration survey an online publication.
BNY Mellon administers nearly $16 billion of alternative UCITS assets for 22 funds as of January 2011. It has seen growing demand for its UCITS services in 2011 and expects this trend to continue as alternative managers seek to expand their distribution potential and address investor concerns regarding liquidity and transparency.
Since 2008, BNY Mellon AIS has doubled its total alternative assets under administration to over $450 billion, fuelled by growing momentum in hedge funds outsourcing their administration, and the acquisition of PNCs Global Investment Servicing business in July 2010.
The evolving regulatory environment and trends in investor requirements are encouraging hedge funds providers to launch new UCITS products, and in many cases to refashion existing funds into the UCITS framework, said Marina Lewin, managing director, BNY Mellon Alternative Investment Services. Investors are looking for enhanced transparency, liquidity and risk reporting from UCITS products. Our depth of alternative investment administration experience, coupled with our continuous product and technological innovation, means we are ideally placed to deliver the timely, in-depth information which managers need to deliver on these objectives.
(LB)