BNY Mellon Asset Servicing is introducing a new suite of alternative investment services for plan sponsors and non-profit institutional investors. The new services are aimed at streamlining the administrative effort required to manage, account for, and analyze alternative investments.
The new services include data administration, reconciliation, document management, “as of” performance measurement, and integrated reporting and analysis through the company’s Workbench information delivery system.
“BNY Mellon has listened to the evolving needs of its clients relative to the administration of alternative assets and has developed a set of tools and services that make it easier for us to satisfy our many reporting and compliance requirements,” says Alfred Salvato, associate vice-president of finance and treasurer of Philadelphia’s Thomas Jefferson University.
“With growing allocations to private equity, hedge funds, and other limited partnerships, along with greater regulatory scrutiny, these new capabilities will ease the burden on investors dealing with this labor intensive asset class,” says Eve Kingsley, first vice-president and product manager at BNY Mellon. “These services will go a long way in freeing up time for investors to focus more on priorities like managing assets and risk.”
To comment on this story, email jody.white@rci.rogers.com.