NEW YORK, June 19, 2013 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has again been recognized as the world's largest fund of hedge funds (FoHF) administrator in HFMWeek's bi-annual assets under administration survey.
BNY Mellon saw its FoHF assets under administration (AUA) rise to $133.4 billion for the six months ending April 2013, up two percent from the prior period and in line with overall growth for the 63 fund administration firms surveyed. Total AUA for the fund of hedge funds industry now stands at $1.085 trillion, according to HFMWeek.
"Funds of hedge funds are seeing the way forward and adjusting their business model to gather new assets," said Marina Lewin, global head of sales for BNY Mellon's alternative investment services business . "Our recent survey of major FoHF players shows how they're adapting to market changes and creating growth opportunities, whether through separate accounts for institutional investors, advisory services, or exploring regulated funds. We'll continue to help guide them through the hurdles."
HFMWeek is an international publication serving the hedge fund community, read by more than 5,500 alternative fund managers, predominantly CFOs and managing partners, and their key advisors across the globe.BNY Mellon is a leading administrator of alternative assets, including single manager hedge funds, funds of hedge funds, and private equity, with more than $600 billion of alternative assets under administration and/or custody and an extensive global presence. BNY Mellon also offers a wide range of cash management, foreign exchange, collateral management, corporate trust, and wealth management services to the alternative investment industry. BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 36 countries and more than 100 markets. As of March 31, 2013, BNY Mellon had $26.3 trillion in assets under custody and/or administration, and $1.4 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn more at bnymellon.com, or follow us on Twitter @BNYMellon. SOURCE BNY Mellon