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BNY Mellon launches real-time delivery of daily net asset values and dividend accrual rates for mutual funds


BNY Mellon, a global leader in investment management and investment services, says its US Investor Solutions Group has launched a real-time service to deliver net asset values (NAV) and daily dividend accrual rates for mutual funds.

BNY Mellon provides the data on behalf of its asset manager clients to intermediaries such as broker-dealers via The Depository Trust & Clearing Corporation's (DTCC) Mutual Fund Profile Services (MFPS) by utilising IBM MQ real time transmission methodology.  The technology conveys information more quickly than the batch transmission technology it replaced. BNY Mellon is the first transfer agent to leverage the technology utilised by DTCC to deliver NAV data.

"Our first-to-market MQ technology delivery service enables asset managers to accelerate the delivery of key data – such as NAVs and daily dividend accrual rates – to intermediaries, thereby increasing their ability to meet critical nightly processing windows," says Christine Gill, head of BNY Mellon's Investor Solutions Group. "The value of this improved turnaround time flows end-to-end to all stakeholders, not only to intermediaries, but in turn to the clients they serve, and ultimately to shareholders."

The importance of providing timely data to broker-dealers has been increasing as these intermediaries have gathered a growing percentage of mutual fund assets on their platforms, according to BNY Mellon. BNY Mellon's US Investor Solutions Group comprises its transfer agency and subaccounting businesses. As of 31 March, 2016, BNY Mellon supported over USD2.6 trillion in assets globally on its transfer agency platform and over 165 million accounts with assets of more than USD2.6 trillion on its subaccounting platform and is ranked as the largest third party provider of subaccounting services and the second largest provider of transfer agency services (based on accounts) in the US, per the 2016 Mutual Fund Service Guide.

Gill says: "We remain committed to investing in technological innovations that improve our clients' experience and underscore our leadership position as the investments company for the world."

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