The Bank of New York Mellon has announced that its Alternative Investment Services business has been selected by Sumitomo Mitsui Asset Management (SMAM) as fund administrator for its new fund of hedge funds, the SMAM Alpha Dynasty Fund Trust.
BNY Mellon, directly or through its affiliates, also will provide custody and trustee services.
SMAM launched SMAM Alpha Dynasty Fund, domiciled in the Cayman Islands, on 27 March 2009 with its seed capital. Targeted at institutional investors, the investment objective of The Trust is to maximize long-term returns to unit-holders by investing in diversified portfolio of hedge funds, aiming at low correlation to traditional asset classes, with emphasis on liquidity.