HedgeMark takes over the top spot driven by 31.7 percent growth in first half of 2019
NEW YORK, Oct. 29, 2019 /PRNewswire/ -- HedgeMark Advisors LLC, the hedge fund dedicated managed account ("DMA") platform unit of BNY Mellon, announced today that it has taken over the top spot as the largest hedge fund managed account platform provider globally with $21.2 billion in total platform assets, according to the HFM Global Composite index. The 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.
HedgeMark grew by 31.7 percent in the first half of 2019, jumping two places in the index during the same time period; which is HedgeMark's strongest performance since it was first featured in the rankings in 2016. This milestone reflects the continued success of BNY Mellon's HedgeMark platform which launched in late-2012 and has steadily grown to become the largest managed account platform in the world.
"We're very proud of HedgeMark's strong growth within the market," said Andrew Lapkin, CEO of BNY Mellon's HedgeMark. "Our current position as the top provider is a testament to our team and the DMA solution that we have built to meet the needs of our clients. As part of the BNY Mellon enterprise, we believe that clients take comfort in the experience and skill of our team, as well as in our robust control environment and operational scale. Our success also reflects the benefits of our model and our ability to provide institutional hedge fund investors with asset control, customization, and transparency to address many of the legacy concerns with traditional hedge fund structures."
HedgeMark attributes this substantial growth to both new and existing clients, as many of those already utilizing the platform continue to increase their assets, as well as recent growth in nontraditional areas, such as the co-investment space, notional funding and funds of accounts (i.e. multi-manager structures). The DMA solution has been very appealing to large pension plans as well as asset managers, particularly fund of funds businesses. HedgeMark clients have also been focusing on investment opportunities in China, with more clients making investments in the region over the past 12-18 months.
The HFM Global Composite index tracks the growth of managed account platform providers semi-annually, ranking the largest global providers in order of total platform assets.
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