BOSTON (Reuters) – BNY Mellon Corp’s push to reinvigorate its cash administration enterprise has but to stem a steady outflow of consumer money from its $322 billion complicated of index-based funding merchandise.

BNY Mellon executives delivered extra unhealthy information on Wednesday after they detailed $22 billion in web withdrawals from index portfolios throughout the second quarter. Most of that outflow got here from a single, unnamed consumer that took property in-house, BNY Mellon Chief Monetary Officer Michael Santomassimo stated on a convention name.

However for the reason that finish of 2014, web withdrawals from index merchandise have totaled $136 billion, in keeping with firm…

Source link

Please follow and like us: