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Alternative Market Briefing

Pershing to buy direct indexing provider Optimal Asset Management

Monday, December 06, 2021

Laxman Pai, Opalesque Asia:

BNY Mellon's Pershing has signed a deal to purchase Optimal Asset Management, which provides direct indexing solutions, for an undisclosed amount.

The Bank of New York Mellon Corporation (BK) said in the press release that Optimal Asset Management's patented, cutting-edge software provides customizable direct indexing solutions to investors seeking personalized portfolios that are aligned to their values.

Optimal Asset Management meets a growing client need for greater investment customization by selecting individual equities in an index solution, including options to tailor their portfolios for sustainable investments, it said.

The acquisition will form part of the new Pershing X offering - a recently launched business unit within Pershing that will design and build innovative solutions for the advisory industry.

The direct indexing market is expected to grow from $350 billion in assets under management (AUM) in 2020 to $1.5 trillion in AUM by 2025.

"We're thrilled to welcome Optimal Asset Management's founder Dr. Vijay Vaidyanathan and his talented team of software architects to Pershing X. Optimal Asset Management will help advisors at our client firms improve relationships and grow their business," said Ainslie Simmonds, President of Pershing X.

"The acquisition of Optimal Asset Management is the latest step in our Pershing X buildout, which aims to fuel growth by helping clients solve the challenge ......................

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