Goals for growth
By Joe Keenan, managing director, BNY Mellon Asset Servicing - The etfexpress award for Best North American ETF Administrator solidifies the unique position and strong credibility that BNY Mellon has developed over the years.
At BNY Mellon we are fortunate to have been able to combine an early appreciation for the potential of the ETF business with an unmatched range of core capabilities, and as a result have actively invested in the people and technology required to support the rapid growth and innovation that has occurred in this industry during the last 18 years.
We are also among the largest providers of services to the traditional fund industry, and recently more than doubled our presence in the US Mutual Fund Industry (in terms of product capabilities and number of funds/clients supported) through the acquisition of PNC's fund services business, previously known as GIS. Our experience in the funds industry, which requires many of the same services that ETFs need, along with our passion for the asset gathering potential for these products has ensured that BNY remains at the forefront in this highly competitive arena. No company is more focused, offers a greater combination of talent and technology, or has more closely linked its own goals for growth to the success of the ETF Industry than BNY Mellon.
BNY Mellon has played a key role in the development of the Exchange Traded Fund industry since the launch of the second ETF, the MidCap SPDR, way back in 1995. Since that time we have partnered with our clients to break new ground in the ETF arena, and are proud of the many innovations that we have played a key role in delivering to this rapidly evolving market segment. For instance we helped launch the first ETFs in Europe, the first actively managed ETFs in the US, the first emerging market ETFs, the first ADR only products, and have been instrumental in the launch of the widest array of commodity products including gold, silver and currency products, just to name a few. Today, BNY Mellon supports more that 500 separate ETFs sponsored by more than 30 individual firms with total assets in excess of USD200bn. Our assets under administration grew a remarkable 45% last year alone.
BNY Mellon has enjoyed significant growth both in terms of the number of funds supported and the total assets managed within these products by our clients. 2010 was a banner year for the growth of existing products and the launch of new funds, and we expect this trend to continue into 2011 and beyond. There is a particular interest in expanding the range of fixed income products, emerging and frontier market funds, a broader range of commodities products to include industrial and other metals, and an emerging focus on actively managed portfolios by established asset management companies.
We are committed to continued investment in our state-of-the-art technology, specifically developed to meet the needs of the ETF industry. We will strive to partner with our clients to help drive the rapid innovation that characterises this exciting business, and will look to extend our demonstrated capabilities to other regions of the world that present extraordinary opportunities including Asia and Latin America.
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