BNY Mellon has enhanced its loan administration functionality to offer a new service to hedge funds and fund of hedge fund clients.
The service will combine the alternatives administration expertise of BNY Mellon Alternative Investment Services with the syndicated bank loan expertise of BNY Mellon Corporate Trust and provide an end-to-end administrative solution from pre-settlement to post-settlement services. The proprietary technology includes STP for trade instructions, security master creation, cash flows and loan specific information, enabling clients to gain transparency of their syndicated loan portfolio.
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: We are dedicated to providing innovative solutions. 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.