BNY Mellon has been recognised as the world’s largest fund of hedge fund (FoHF) administrator in a bi-annual administrator survey.
BNY Mellon saw its FoHF assets under administration rise by USD20bn to USD130.6bn in the six months to October 2012, demonstrating considerable growth in what has been a challenging period for the FoHF industry, with overall assets under management down by two per cent, falling from USD1.09trn to USD1.07trn.
Marina Lewin (pictured), global head of sales for BNY Mellon Alternative Investment Services, says: "We’ve been able to benefit from increasing moves toward outsourcing as funds of hedge funds continue to strengthen their operational infrastructure. The notable rise in our assets under administration the past six months reflects the quality of our service and technology offering, which enables clients to focus on generating investment returns in tough market conditions.
"Our ability to be a full service provider to FoHFs – which have expanded their products, services and distribution channels – has proven an effective differentiator for us. The alternatives industry continues to evolve from both a regulatory and investor perspective, and our focus remains on guiding clients through this change and supporting their business growth.”