Motley Fool Asset Management describes itself as “aiming to get right what much of the fund industry gets wrong. Our approach all begins with a unique, shareholder-centric philosophy.”
The asset management firm states its intention is to invest for the long term, to not impose loads or 12b-1 charges, and "to apply redemption fees only to discourage short-term trading".
BNY Mellon has been providing fund accounting, fund administration, transfer agency and custody for Motley Fool Asset Management since 2009, and the new agreement provides for BNY Mellon to continue providing these services.
"We have expanded our relationship with BNY Mellon because of its strong client services organisation and its flexible technology," said Peter Jacobstein, president of Motley Fool Asset Management.
"In addition, BNY Mellon provided crucial services that enabled us to launch our first fund in 2009 and provided important support as we added new offerings and grew our assets."
"We continue to invest in service capabilities and technology to meet client needs at a growing number of fund complexes," said Kenneth Roehner, managing director and head of US financial institutions at BNY Mellon.
"We see more groups step up their securities lending activities as the markets continue their recovery from the financial crisis of 2008."