PITTSBURGH — Mellon Global Investments, the international distribution subsidiary of Mellon Financial Corporation has announced the launch of the Nikko Mellon GW Select Best Nine Fund* managed by its Japanese business, Mellon Global Investments Japan, and distributed in Japan by Nikko Cordial Securities Inc. This new launch is the largest fund launch Mellon has ever undertaken at an initial aggregate fund size at launch of over $3.0 billion.
The Best Nine Fund is a global fund of funds that aims to achieve a high total return through international diversification across nine asset classes, combining traditional equities and bonds with alternative investments (Japan Large Cap, Japan Small Cap, Global Equity, Emerging Equity, Global Fixed Income, Emerging Bond, High Yield Bond, Global REIT and Alternative Investments). Investors can choose from two portfolios with different risk levels — one ‘Aggressive’ and one ‘Moderate’ — where the underlying managers are selected and constantly monitored.
Mellon’s fund of funds subsidiary, EACM Advisors, and a subsidiary of Nikko Cordial Corporation, Global Wrap Consulting Group (GWCG), will be responsible for monitoring these two portfolios — GWCG is responsible for advising on asset allocation, Japan fund selection and monitoring portfolios. EACM is responsible for advising on global ex-Japan fund selection. The investment universe includes five Mellon subsidiaries (Franklin Portfolio Associates, Newton Investment Management, Standish Mellon Asset Management, The Boston Company Asset Management and Mellon HBV) who all actively manage funds in which assets of each portfolio will be invested. In addition, Mellon Capital Management provides GTAA (Global Tactical Asset Allocation) overlay across the entire portfolio.
Commenting on the launch, Jon Little, chief executive officer of Mellon Global Investments and co-chair of Mellon International, said: “Our Japanese business goes from strength to strength having been one of the fastest growing asset managers in each of the last three years.
“I am delighted that our relationship with Nikko Cordial Securities is playing a major part in this success.”
David Jiang, Regional Head of Mellon Global Investments in Japan and Asia, added: “Our close partnership with Nikko Cordial Securities continues to develop and I am confident we will achieve further success working together.
“Japan is an important investment market and we are proud to be a part of such a significant growth area.”
The fund is distributed by Nikko Cordial Securities to the Japanese retail market. EACM Advisors, Franklin Portfolio Associates, Mellon Capital Management, Mellon HBV, Newton Investment Management, Standish Mellon Asset Management and The Boston Company Asset Management are subsidiaries of Mellon Financial Corporation.
*Two investment options are available, the GW Select Fund Aggressive Type and the GW Select Fund Moderate Type, both Series Trusts of Mellon Offshore Funds, an open-ended umbrella unit trust constituted under the laws of the Cayman Islands. All information and figures source Mellon Global Investments unless otherwise stated as at 31 March 2006. This press release is issued by Mellon Global Investments Limited to members of the financial press and media and the information contained herein should not be construed as investment advice.
Registered office: Mellon Financial Centre, 160 Queen Victoria Street, London, EC4V 4LA
Registered in England no.1118580
Authorised and regulated by the Financial Services Authority
A Mellon Financial Company(SM)
Notes to editors
London-based Mellon Global Investments Limited is the international distributor of the investment skills and products of the asset management subsidiaries of Mellon Financial Corporation. Each of Mellon’s asset managers is a specialist in its field. Their combined offering includes mainstream and high yield bond, cash, equity management, currency overlay, indexation and alternative investment management. Mellon Global Investments delivers these diverse skills to a wide and varied client base, providing a wealth of solutions. More information is available at mellon global investments.
Nikko Cordial Securities Inc. is a leading Japanese securities company. Nikko provides a wide spectrum of investment products and delivers them to its customers with the objective of meeting individual needs for steady asset management and asset building according to age, lifestyle, and future financial plans. At its 108 branches nationwide, its consultants and advisers offer consulting services and a wide range of investment solutions to their customers with full confidence. Nikko Cordial Securities is a subsidiary of Nikko Cordial Corporation.
Mellon Financial Corporation is a global financial services company. Headquartered in Pittsburgh, Mellon is one of the world’s leading providers of financial services for institutions, corporations and high net worth individuals, providing asset management, private wealth management, asset servicing, and payment solutions and investor services. Mellon has approximately $4.9 trillion in assets under management, administration or custody, including $808 billion under management. News and other information about Mellon is available at Mellon Financial Corporation.