Lipper Names BNY Mellon Largest Fund Administrator In Ireland

The Bank of New York Mellon is the largest fund administrator in Ireland, according to the recently published Lipper's 2008 Ireland Fund Encyclopaedia. The annual report by Lipper, the Reuters owned research company, names BNY Mellon Asset Servicing as the

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The Bank of New York Mellon is the largest fund administrator in Ireland, according to the recently published Lipper’s 2008 Ireland Fund Encyclopaedia.

The annual report by Lipper, the Reuters-owned research company, names BNY Mellon Asset Servicing as the largest fund administrator in Ireland, with total net assets under administration of US$335 billion. This equates to a 17.55% market share.

BNY Mellon Asset Servicing also topped the table for domiciled funds with total net assets under administration of US$293 billion (as at 30 June 2008). This equates to a 23.65% market share.

This is the first year in which The Bank of New York Mellon has participated in the survey following the merger of The Bank of New York and Mellon Financial Corporation in July 2007.

This accolade recognises not only BNY Mellons position as market leader, but also its focus on pioneering and perfecting innovative servicing solutions for our clients, said Ross Whitehill, head of offshore management, BNY Mellon Asset Servicing.

Ireland has consolidated its position as a leading centre for fund administration and as the Irish market has grown and matured, so has our offering. Our global technology and operating platform gives us a strong basis to provide the complex servicing solutions our clients demand, both for Irish funds and for funds from other domiciles.

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