BNY Mellon Largest FoF Admin.

Jun 19 2013 | 9:09am ET

The Bank of New York Mellon remains the largest administrator to funds of hedge funds, according to a biannual survey.

HFMWeek found that BNY's fund of funds assets under administration rose to $133.4 billion as of the end of April, a 2% increase from six months earlier. BNY administers more than 12% of the $1.085 trillion managed by funds of hedge funds.

"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 surveyed 63 administrators for the ranking.

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