LONDON, September 23, 2014 – BNY Mellon, the global leader in investment management and investment services, has teamed up with investment consulting firm Redington to offer its UK pension fund clients an enhanced asset and liability risk reporting service.
The new service allows pension funds to monitor both their funding position on a quarterly basis (based on monthly calculations) as well as their level of risk exposure, helping fiduciaries and scheme trustees understand how to meet their current and future liabilities. It also offers analysis of the sensitivity of the scheme’s funding position that may be impacted by changes in the external economic environment.
BNY Mellon’s ability to provide tailored client portfolio data, notably in respect of derivatives, and to enhance the speed of data delivery are crucial elements that facilitate this service.
Fraser Priestley, Head of Consulting, Global Risk Solutions EMEA at BNY Mellon, said: “The depth and breadth of reporting we offer is a key part of our value proposition to the pensions market in terms of helping schemes with the provision of strong governance around their investments.”
Robert Gardner, founder and co-chief executive at Redington, said: “The relationship with BNY Mellon affords us the opportunity to expand iRIS, our risk reporting tool, to more clients. BNY Mellon’s granular data can be uploaded directly into our systems, ensuring our mutual clients receive best in class reporting coupled with thorough analysis.”
BNY Mellon's Asset Servicing business supports institutional investors in today’s fast-evolving markets, safeguarding assets and enhancing the management and administration of client investments through services that process, monitor and measure data from around the world. We leverage our global footprint and local expertise to deliver insight and solutions across every stage of the investment lifecycle.
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of June 30, 2014, BNY Mellon had $28.5 trillion in assets under custody and/or administration, and $1.6 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com or follow us on Twitter @BNYMellon.
Redington designs, develops and delivers investment and risk management strategies to pension funds, insurance companies and wealth managers, and helps them to define and reach their goals. The firm focuses on understanding clients’ needs and provides bespoke, outcome-oriented advice supported by market leading analytics. Clients are taken through a rigorous 7 Steps to Full Funding™ process, and are measurably better funded with less downside risk as a result of working through this process. Redington has been named Best Consulting Firm of the year, Best Specialist Investment Consultancy of the Year, and Risk Management Firm of the Year several times by industry players in the eight years of its existence.
Since 2006 Redington has grown to a team of 64 individuals and 41 investment professionals. The team has a combined total of over 300 years of investment consulting, actuarial, capital markets and asset management experience. The firm provides advice to 50+ clients, ten of the top 30 pension funds in the UK, and has over £330bn in assets under consulting.
Contact: Tim Steele, +44 20 7163 5850, firstname.lastname@example.org
This press release is issued by The Bank of New York Mellon to members of the financial press and media. All information and figures source BNY Mellon unless otherwise stated as at June 30, 2014. The Bank of New York Mellon, London Branch, registered in England and Wales with FC005522 and BR000818. Branch office: One Canada Square, London E14 5AL. Supervised and regulated by the New York State Department of Financial Services and the Federal Reserve. Authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request.