Alternative fund services unit also wins CustodyRisk magazine award for 'Most Innovative Project of the Year'
BNY Mellon, the global leader in investment management and investment services, has been named 'Best administrator over $30bn - single manager' for the second year running at the HFMWeek European Hedge Fund Services Awards, presented in London on April 25.
BNY Mellon was one of six industry-leading companies to be nominated for the honour as part of the 2013 awards, which recognise firms that have outperformed their peer group over the last 12 months. Companies are judged both quantitatively and qualitatively, based on financial progress, growth, and innovation across a number of areas.
BNY Mellon won the award for its commitment to excellence in client service, which has driven sustained growth of its hedge fund administration business. HFMWeek is an international publication for the hedge fund community, read by over 7,000 alternative fund managers - predominantly COOs and managing partners - and their advisers worldwide.
"In a crowded and competitive space, BNY Mellon consistently distinguishes itself with technologically proficient, high-touch and innovative service. This was underscored by the judges, who said that BNY Mellon is always astute in determining and meeting client needs," said Tony Griffiths, editor, HFM Week.
BNY Mellon also won the Custody Risk 2013 Americas Award for 'Most Innovative Project of the Year.' Last year, the company became the first alternative investment fund administrator in the industry to streamline the post-trade cash settlement process by automating money movements for its hedge funds, fund of funds, and private equity clients around the globe.
"These two awards reflect our relentless focus on outstanding service and market-leading technology to support our clients," said Marina Lewin, global head of sales for BNY Mellon's alternative investment services business. "With AIFMD implementation fast approaching, we've been working closely with clients to ensure they're prepared for the operational and regulatory challenges it entails. The strength of our full service offering is a big reason why we continue to grow our alternative assets under administration."