NEW YORK, Aug. 17 /PRNewswire-FirstCall/ -- BNY Mellon Asset Servicing, the global leader in securities servicing, and Investor Analytics, a global leader in risk measurement and risk management solutions, have been selected by OneAmerica Funds to provide stress tests that model the impact of interest-rate shocks, credit risk shocks and liquidity risk shocks on its money market funds.
This service will help money market funds comply with Rule 2a-7 issued by the U.S. Securities and Exchange Commission (SEC). The rule requires money market funds to examine combinations of potential stresses.
"BNY Mellon has developed a comprehensive solution that matches our needs, including efficient methods for managing and reporting the data that we require," said Dan Schluge, assistant treasurer of OneAmerica Funds. "This service will be helpful as we adopt the new SEC requirements."
"Our continued focus on providing risk analysis and stress testing services to mutual fund clients such as OneAmerica Funds demonstrates our commitment to providing a broad range of services to the mutual fund industry," said Nancy Wolcott, head of US Fund Services for BNY Mellon Asset Servicing.
The suite of stress tests was developed by Investor Analytics and is available through BNY Mellon's sophisticated asset servicing technology platform. The tests examine changes in fund NAV resulting from parallel and non-linear shifts in yield curves, changes in credit spreads, increasing redemption requests, downgrade/default simulations and combinations of these stresses.
"In addition to satisfying government regulations, these reports provide an intuitive and powerful way to understand how a fund's value changes with shifting interest rates, credit spreads and fund redemptions," said Damian Handzy, chief executive officer of Investor Analytics. "Stress tests like these are a growing trend in risk management."
Investor Analytics LLC, headquartered in Berkeley Heights, New Jersey, with offices in midtown Manhattan, has been providing portfolio and risk management services to the investment management industry since 1999. Investor Analytics employs proprietary methodologies to analyze complex investment portfolios of hedge funds and fund of hedge funds and provides clients with a suite of award-winning risk and transparency analyses.
BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialized asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services. BNY Mellon Asset Servicing provides services through BNY Mellon and other related companies.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $21.8 trillion in assets under custody and administration and $1.0 trillion in assets under management, services $11.6 trillion in outstanding debt and processes global payments averaging $1.5 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available at www.bnymellon.com.
SOURCE BNY Mellon