Large investment management companies that normally hire outside firms to manage some or all of their investment strategies will now be able to use networks of sub-advisors to manage investment companies registered under the Investment Company Act of 1940.
Operating as part of BNY Mellon Asset Servicing division, Beta & Transition Management helps pension plans and other financial institutions move assets from one asset manager to another.
Additionally, it also assists to change the allocation of different types of assets in an investment portfolio, with an aim to slash costs, risks and operational burdens.
BNY Mellon Asset Servicing global head Samir Pandiri said that the transition management is an important part of its investment services offering as the firm supports clients across the entire transaction lifecycle.
"BNY Mellon Beta & Transition Management follows the fiduciary model, which is well positioned to grow in the current business and regulatory environment," Pandiri added.
Operating in 36 countries and more than 100 markets, BNY Mellon had $26.3trn in assets under custody and/or administration, and $1.4trn in assets under management, as of 31 March 2013.
