BNY Mellon vows to stem billions in outflows from index products [Reuters (UK)]
The Bank of New York Mellon Corporation (BK)
Last the bank of new york mellon corporation earnings: 4/16 06:30 am
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Source: Reuters
BNY Mellon vows to stem billions in outflows from index products - Reuters 4 Min Read BOSTON (Reuters) - BNY Mellon Corp’s push to reinvigorate its money management business has yet to stem a continuous outflow of client cash from its $322 billion complex of index-based investment products. BNY Mellon executives delivered more bad news on Wednesday when they detailed $22 billion in net withdrawals from index portfolios during the second quarter. Most of that outflow came from a single, unnamed client that took assets in-house, BNY Mellon Chief Financial Officer Michael Santomassimo said on a conference call. But since the end of 2014, net withdrawals from index products have totaled $136 billion, according to company financial statements. The decline in those assets is not a proportional hit to revenue because the bank’s index products are mostly low-fee strategies. By contrast, BNY Mellon’s $709 billion portfolio of liability-driven investments (LDI), which are popular with pension f
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BK
Earnings
- 4/16/24 - Beat
BK
Sec Filings
- 4/18/24 - Form 144
- 4/18/24 - Form NPORT-P
- 4/18/24 - Form NPORT-P
- BK's page on the SEC website