BNY Mellon has announced that it has enhanced its loan administration functionality to offer hedge funds and fund of hedge fund clients an automated solution with increased transparency.

The service will combine the expertise of BNY Mellon Alternative Investment Services, a leading fund administrator of alternative assets, and BNY Mellon Corporate Trust, a leader in servicing syndicated bank loans with over 50% coverage of all live issues. The integration of BNY Mellon’s alternative investment and fixed income systems provides an end-to-end administrative solution from pre-settlement to post-settlement services. Through proprietary technology, clients will have access to straight through processing for trade instructions, security master creation, cash flows and loan specific information, gaining transparency of their syndicated loan portfolio. BNY Mellon also is live with many of the loan market initiatives with DTCC and others which aid the reconciliation and settlements of this asset class.

“We can now offer our hedge funds and fund of hedge funds clients an enhanced loan service as part of our suite of administration products,” said Brian Ruane, BNY Mellon chief executive officer of Alternative and Broker-Dealer Services. “By working closely with our corporate trust business, we have been able to develop a best of breed offering which addresses the specific needs of our clients allocating to fix income.”

“We service over $400 billion in loans and this new service extends access to our market leading position to our hedge fund clients,” adds Debra Baker, Head of US Financial Institutions, BNY Mellon Corporate Trust. “We are dedicated to providing innovative solutions.  These advanced reporting packages leverage our expertise in both alternative fund and syndicated loan administration to enable clients to better manage their portfolios and offer increased transparency to their clients.”