Key milestones reflect the deep experience and rapid growth that define the firm which helped originate the outsourced dedicated managed account (DMA) industry
NEW YORK, Sept. 24, 2018 /PRNewswire/ -- HedgeMark Advisors LLC, the hedge fund dedicated managed account (DMA) platform unit of BNY Mellon, today announced that it recently surpassed 100 active client DMA funds, marking a significant milestone in the firm's growth since beginning its service in September of 2012. As of August 31, 2018, HedgeMark now services $16.9B in client platform assets.
HedgeMark specializes in supporting institutional clients in the development and operation of their own private hedge fund DMA platforms. While some platform providers focus their businesses on managing proprietary products, HedgeMark's business is exclusively dedicated to implementing and operating platforms for institutional investors.
Recent years have seen the rapid growth of AUM in hedge fund managed accounts, and increasing popularity of such structures with institutional investors. Industry surveys consistently show that these investors value managed accounts as a tool to lower fees and expenses, increase control and improve transparency. The option to outsource the set-up and day-to-day operations of DMAs to an organization like BNY Mellon has facilitated an increase in institutional adoption of these fund structures.
"We are extremely proud of how quickly we have established HedgeMark as the leader in providing dedicated managed account services to institutional hedge fund investors. We believe that since launching our first client fund six years ago, HedgeMark has launched more DMAs and has more DMA clients than any other platform provider," says Andrew Lapkin, CEO of BNY Mellon's HedgeMark.
HedgeMark's award-winning managed account platform serves a wide range of institutional clients, including public and private pensions, fund of hedge funds, alternative asset managers, wealth managers, consultants and family offices. Earlier this year, Hedgeweek recognized HedgeMark as having the "Best Managed Account Platform" for the fourth consecutive year.
Lapkin, describing the roots of the firm's growth, notes, "The breadth of our offering combined with our investments in technology and our talented staff have been the keys to our success. As a BNY Mellon company, we have been uniquely positioned to scale this type of service with the necessary people, processes and technology which are then delivered by a top institutional counterparty."
About BNY Mellon
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. As of June 30, 2018, BNY Mellon had $33.6 trillion in assets under custody and/or administration, and $1.8 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. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
SOURCE BNY Mellon