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BNY Mellon launches automated loan administration service for hedge fund clients

Thursday, January 26, 2012

Brian Ruane
Opalesque Industry Update – BNY Mellon, the global leader in investment management and investment services, announced today that it has enhanced its loan administration functionality to offer hedge funds and fund of hedge fund clients an automated solution with increased transparency.

The service will combine the expertise of BNY Mellon Alternative Investment Services, a leading fund administrator of alternative assets, and BNY Mellon Corporate Trust, a leader in servicing syndicated bank loans with over 50% coverage of all live issues. The integration of BNY Mellon’s alternative investment and fixed income systems provides an end-to-end administrative solution from pre-settlement to post-settlement services. Through proprietary technology, clients will have access to straight through processing for trade instructions, security master creation, cash flows and loan specific information, gaining transparency of their syndicated loan portfolio. BNY Mellon also is live with many of the loan market initiatives with DTCC and others which aid the reconciliation and settlements of this asset class.

“We can now offer our hedge funds and fund of hedge funds clients an enhanced loan service as part of our suite of administration products,” said Brian Ruane, BNY Mellon chief executive officer of Alternative and Broker-Dealer Services. “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.”

“We service over $400 billion in loans and this new service extends access to our market leading position to our hedge fund clients,” adds Debra Baker, Head of US Financial Institutions, BNY Mellon Corporate Trust. “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.”

BNY Mellon Alternative Investment Services, a leading fund administrator of alternative assets including single manager hedge funds, funds of hedge funds and private equity, has over $450 billion of assets under administration and custody and an extensive global presence. In addition to administration and custody services, we offer cash management, foreign exchange, collateral management, corporate trust and wealth management to the alternative investment industry.

BNY Mellon Corporate Trust services $11.9 trillion in outstanding debt from 61 locations in 20 countries. Its clients include governments and their agencies, multinational corporations, financial institutions and other entities that access the global debt capital markets. The corporate trust business utilizes its global footprint and expertise to deliver a full range of issuer and related investor services and to develop customized and market-driven solutions. Its range of core services includes debt trustee, paying agency, escrow and other fiduciary offerings.

Corporate trust providers are appointed by corporations, municipal governments and other entities issuing debt to perform a variety of duties, including servicing and maintaining the debt issue, processing principal and interest payments for investors, representing investors in defaults, and providing value-added services for complex debt structures.

(press release)


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