Dreyfus Does Deal w/NY MuniTrust
A statement sent to us last week tells us, "BNY Mellon and Dreyfus, BNY Mellon's affiliated liquidity manager, are pleased to partner with NY MuniTrust to deliver competitive liquidity options through a turnkey solution for New York municipalities. As the manager for NY MuniTrust's recently launched local government investment pool (LGIP), Dreyfus is leveraging its nearly 50 years of experience to help municipalities optimize their liquidity with competitive investment returns at a unique value. In addition, BNY Mellon supports NY MuniTrust by providing custody, fund accounting and record keeping for the investment pools." John Tobin, Chief Investment Officer for Dreyfus, comments, "Dreyfus has deep roots in New York. We're pleased to be able to offer these competitive liquidity solutions to our local municipalities. NY MuniTrust offered us the opportunity to broaden the investment options for NY-based municipalities -- and we were eager to partner with them to provide this client-focused solution." Declan Denehan, Managing Director and Head of Public Funds Segment for BNY Mellon Asset Servicing, adds, "With 238 years in New York, it is powerful to see the broad impact our services can have in our communities.... BNY Mellon is proud to be able to provide a turnkey solution -- from custody, fund accounting and record keeping through investment management -- for New York municipalities."
