UOB Asset Management awards fund administration to BNY Mellon Asset Servicing

BNY Mellon selected due to its robust global infrastructure capable of supporting administration needs in Asia.

BNY Mellon Asset Servicing, the global leader in securities servicing, has been selected by UOB Asset Management (UOBAM) as the trustee, fund administrator and custodian of its Cayman-domiciled United Asia Bond Multi Currency Fund. This Fund is part of UOBAM’s United Multi Asset Strategy Fund and as at 31 March 2010, the United Asia Bond Multi Currency Fund had approaching JPY 5 billion (US$50 million) in assets under management, according to a statement by BNY Mellon on Thursday.

UOBAM is headquartered in Singapore, with regional business and investment offices in Malaysia, Thailand, Brunei, Taiwan and Japan. UOBAM has more than 20 years of experience in investing in equities and fixed income instruments of regional and global markets. “We chose BNY Mellon as our fund administrator as they are highly regarded in the industry for having a robust global infrastructure which can support our administration needs in Asia as well as those of our global investor base,” said Masashi Ohmatsu, Senior Director & CEO at UOBAM Japan. “The enhanced functionality and efficiencies which BNY Mellon’s appointment brings will enable us to deliver even greater value to our clients.”

“As the offshore mutual funds markets are increasingly competitive, the need for a strong global administrator who can assist asset managers in meeting the changing requirements is more important than ever. BNY Mellon is committed to working on behalf of our clients to ensure they understand and meet their new requirements, increase the effectiveness of their operations and minimize exposure to risk,” Chong Jin Leow, head of Asia, BNY Mellon Asset Servicing added.