Thursday, 3 September 2015
Last updated 45 min ago
Sep 26 2007 | 11:33am ET
The Bank of New York Mellon is looking to catch the 130/30 wave without actually launching a fund. The firm has introduced the first platform that provides complete support to managers of 130/30 strategies.
The bank and its subsidiary, Pershing LLC, are offering managers a 130/30 platform as a result of enhancements made to the prime brokerage capabilities at Pershing. Through this new platform, the bank can provide 130/30 managers with a range of prime services, including securities lending, execution and financing, and asset servicing capabilities such as custody, fund accounting and administration and collateral management.
“We are bringing to the market a full suite of integrated services and financing functions needed to manage eligible 130/30 funds such as limited partnerships, 40 Act Funds, hedge funds and separately managed accounts,” said Gerald Hassell, president of the firm.
The Bank of New York Mellon currently has more than $20 trillion in assets under custody and administration and more than $1 trillion in assets under management.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…