New York (HedgeCo.Net) – BNY Mellon, the global leader in investment management and investment services, has been recognized as the world’s largest Fund of Hedge Fund (FoHF) administrator in HFMWeek’s bi-annual administrator survey.
BNY Mellon saw its FoHF assets under administration rise by $20 billion to $130.6 billion in the six months to October 2012, demonstrating considerable growth in what has been a challenging period for the FoHF industry, with overall assets under management down by 2%, falling from $1.09 trillion to $1.07 trillion.
With more than $575 billion of alternative assets under administration, BYN Mellon has $26.7 trillion in assets under custody and administration and $1.4 trillion in assets under management, services $11.4 trillion in outstanding debt and processes global payments averaging $1.5 trillion per day.
