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

BNY Mellon executives delivered extra unhealthy information on Wednesday once they detailed $22 billion in internet withdrawals from index portfolios in the course of the second quarter. Most of that outflow got here from a single, unnamed shopper 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, internet withdrawals from index merchandise have totaled $136 billion, in accordance with firm…

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