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BNY Mellon has introduced enhanced accounting and reporting functionality for side pocket accounts and special purpose vehicles. The new service offers hedge fund managers greater flexibility in structuring their funds and managing illiquid or long-term assets. Delivered via BNY Mellon's proprietary fund accounting platform, Praeeo, the automated service enables fund managers to segregate illiquid investments. Capital and/or earned income, along with applicable profit-carry forward, can be automatically moved from the side pocket to the main or trading portfolio, giving fund managers more ways to manage realised events within the side pocket. In addition, flexible investor statement options allow hedge fund managers to offer greater transparency to their investors across both liquid and side-pocketed holdings.
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