BNY Mellon tops $100 billion in ETF assets under custody.

 

The back-office securities servicing arm of Bank of New York Mellon says it has topped the $100 billion mark in exchange-traded fund assets. At that level, BNY Mellon Asset Servicing claims to be the largest U.S. custodian for ETFs in terms of funds serviced.

In a statement released Tuesday morning, the firm says that it now provides services to more than 350 separate funds. BNY Mellon's ETF services business has grown from a single portfolio with less than $1 billion in assets in the past decade, according to Joseph Keenan, managing director of BNY Mellon Asset Servicing.

He credited the group's climb to the top at least in part to the market's recent upswing. Longer term, Keenan noted the explosive growth in ETF popularity over the past several years. ETF services include custody, accounting and administration as well as transfer agency servicing.

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Industry Outlook for Alternative Energy Stocks: Speculative - Bullish

The electric power industry is one of the world's largest industrial segments. With a global market share of approximately 25%, the United States is the leading producer of electricity, followed by China, Japan and Russia. Total global electricity consumption volume grew at a CAGR [compound annual growth rate] of 3.1% from 1980 to 2006, the most recently available information, according to the Energy Information Administration of the United States

...

Assuming that GDP growth is slightly negative for the next 3 to 4 quarters while the credit markets gradually strengthen, let's consider the outlook and opportunities for the Alternative Energy industry over the next 6 to 12 months. Many companies engaged in the solar power market offer profitability with strong average long-term annual earnings growth expectations of approximately 40%, stock price valuations significantly discounted from their recent historic highs, and a favorable political environment.

Industry Outlook for Alternative Energy Stocks: Speculative - Bullish

The electric power industry is one of the world's largest industrial segments. With a global market share of approximately 25%, the United States is the leading producer of electricity, followed by China, Japan and Russia. Total global electricity consumption volume grew at a CAGR [compound annual growth rate] of 3.1% from 1980 to 2006, the most recently available information, according to the Energy Information Administration of the United States

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