BNY Mellon’s alternative Ucits assets under administration jump 70%
BNY Mellon has seen volumes of alternative Ucits assets under administration 70% year-on-year.
AIS’s alternative Ucits grew by $11bn from January 2011, continuing the growing demand for solutions that the company has seen over the last few years. BNY Mellon said it has $26.7bn in alternative Ucits assets under administration across 29 funds (as of January 2012).
Since 2008, BNY Mellon’s AIS business has more than doubled total alternative assets under administration and custody to over $525bn.
Ucits funds have proven to be increasingly attractive to investors due to their transparency, liquidity and regulatory oversight, BNY Mellon said. This has resulted in a significant rise in the number of alternative Ucits funds launched in the last year.
Marina Lewin, managing director at BNY Mellon Alternative Investment Services, said: “Managers remain under pressure to deliver concise and transparent information to investors against a backdrop of both ongoing volatility and regulatory uncertainty. As a result, hedge funds continue to look to a third party fund administrator they can trust and which can offer the flexibility and the depth and breadth of services to accommodate their individual tailored requirements.”