BNY Mellon Offers Separately Managed Accounts in Asia-Pac

BNY Mellon has received approval from the Securities and Futures Commission (SFC) for its new Hong Kong-based subsidiary to establish a separately managed accounts business.

The subsidiary will introduce the separately managed accounts platform later this year.

“[Separately managed accounts] provide individual investors access to investment portfolios which have previously been beyond their reach, and traditionally only available to institutional investors at high minimum thresholds,” notes AJ Harper, president and CEO of the new Hong Kong managed accounts subsidiary for BNY Mellon.

Harper continues: “What will make our platform so unique to Asia-Pacific is that it will be the first open architecture offering that provides multi-manager and multi-currency portfolios at an entry level of less than $1 million per portfolio.”

Steve Lackey, Asia-Pacific chairman, BNY Mellon, added: “We are making significant investments in Asia-Pacific … specifically designed with the Asian investor in mind. We believe the growing wealth in the region has created a real need for this type of platform.”