NEW YORK, April 25, 2017 /PRNewswire/ -- BNY Mellon, a leading global investment management and investment services company, and FundVantage Trust, a fund portfolio series trust, have been chosen by TOBAM, a Paris-based asset management firm formed in 2005, to support the launch of its first mutual fund offered to U.S. investors. BNY Mellon will provide fund accounting and administration, custody and transfer agency services to TOBAM as the provider of such services to FundVantage Trust, which provides turnkey solutions to help investment managers to launch and operate U.S. mutual funds.

"This turnkey solution will help expedite the launch of our emerging markets equity fund and do so less expensively than by building the infrastructure on our own," said David Bellaiche, deputy chief executive officer and chief operating officer of TOBAM. "BNY Mellon and FundVantage have combined to provide the full array of services and scale for TOBAM to launch in the U.S. 40 Act marketplace."

"In addition to providing custody and related services from BNY Mellon, FundVantage Trust possesses deep expertise in helping clients navigate the 40 Act launch process, as well as the market-proven ability to assist asset managers defray other potentially steep startup costs such as insurance, directors and audit fees, and legal," said Robert Christian, chairman of the FundVantage Trust.

Brian Chorba, business head in BNY Mellon's U.S. Asset Servicing group, said, "Utilizing the FundVantage structure allows investment managers to accelerate their launch in the 40 Act space and compete more effectively against competitors with established mutual fund offerings. Leveraging their turnkey solution allows us to provide critical fund accounting and other services, which in turn allows fund managers to focus on their core business of investing and distribution, while delegating administration and other functions to the experts on our teams."

BNY Mellon has been providing mutual fund services to FundVantage Trust since 2007, and FundVantage's turnkey offering supports 36 funds with assets in excess of $6.0 billion.

BNY Mellon's Asset Servicing business supports institutional investors in today's fast-evolving markets, safeguarding assets and enhancing the management and administration of client investments through services that process, monitor and measure data from around the world. We leverage our global footprint and local expertise to deliver insight and solutions across every stage of the investment lifecycle.

BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of March 31, 2017, BNY Mellon had $30.6 trillion in assets under custody and/or administration, and $1.7 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.

Contact:

Cheryl Krauss
+1 212 635 8176
cheryl.krauss@bnymellon.com

Frank Pinto
+1 917 309 1065
frank.pinto@bnymellon.com

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SOURCE BNY Mellon