BoNY Introduces Platform To Support 130/30 Funds

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.


In Depth

AIMA: Smaller Firms Remain the Lifeblood of the Hedge Fund Industry

Jul 26 2017 | 5:55pm ET

It is a hedge fund industry truism that the largest managers receive the most attention...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...