Boston, MA 09/24/2014 (wallstreetpr) – The Bank of New York Mellon Corporation (NYSE:BK) (BNY Mellon) partnered with Redington, an investment consulting firm, to offer new risk reporting services to its UK pension funds clients.
Advantage
The new reporting solution allows the customers to monitor the risk associated to their assets and liabilities on a quarterly basis while calculating the monthly data. It also provides the information related to their level of risk exposure and how to meet their current and future liabilities. In addition, it offers the sensitivity analysis on their funding position with respect to the change in economic conditions and also provides guidance on fraud schemes.
BNY Mellon’s Head of Global Risk Solutions EMEA, Fraser Priestley said that The Bank of New York Mellon Corporation (NYSE:BK) has the potential to offer a wide range of schemes in the pension market with a provision for strong governance across their investments. It provides a complete portfolio of data to the clients and also facilitates services through new data delivery processes.
Prospects
The Bank of New York Mellon Corporation (NYSE:BK) already had an access to more than 100 markets across 35 countries and offered a large pool of investment products and solutions at every stage of the client’s investment lifecycle. As of June 30, 2014, it has $1.6 trillion of assets under management and $28.5 trillion of assets under custody. So, the investment company manages a large client’s portfolio and also expects that new reporting tool will further enhance the performance its assets.
On the other end, Redington is offering risk management solutions across investment instruments such as pension funds, insurance and wealth management. Robert Gardner, CEO of Redington, said that the association with BNY Mellon will create opportunities to expand its risk reporting tool (iRIS) to more clients including pension funds. The tool will utilize the data of The Bank of New York Mellon Corporation (NYSE:BK) and provide a full-fledged report including detailed risk analysis of the client’s portfolio.
