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BNY Mellon shifts active management to affiliates

BNY Mellon shifts active management to affiliates Print Hanneke Smits said the moves mean Mellon Investments will be back where it started, focusing on institutional passive strategies. BNY Mellon Investment Management s decision to shift the active units of its Mellon Investments Corp. business to its affiliate managers is not of particular concern for industry players. The $2.2 trillion money manager said this month that Mellon s $105.2 billion fixed-income unit, covering stable value, municipal, efficient beta and taxable fixed-income strategies, will move to global fixed-income and liability-driven investment firm Insight Investment, bolstering AUM to $1.1 trillion. Mellon s equities and multiasset capabilities will move to Newton Investment Management, which will also get the Japanese equities team from BNY Mellon Investment Management Japan, creating a $140 billion firm. Newton had $62.8 billion in AUM as of Dec. 31.

BNY Mellon shuffles capabilities across affiliate managers

BNY Mellon shuffles capabilities across affiliate managers Hanneke Smits Mellon Investments Corp. s fixed-income, equities and multiasset, and liquidity management teams and strategies will be moved to other affiliate managers within the BNY Mellon Investment Management stable. The decision was made in partnership with the relevant firms, Hanneke Smits, CEO of BNY Mellon Investment Management, said in an interview. The transitions are expected to complete by the end of the third quarter, subject to regulatory approvals, and there will be no changes to investment processes of philosophies during the transition period. The change was made clearly with our clients interests at heart, particularly as they continue to search for outcome-oriented solutions, Ms. Smits said.

U S stocks drop the most in a week; dollar strengthens

U S stocks drop the most in a week; dollar strengthens
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U S stocks decline, oil falls while dollar gains

U S stocks decline, oil falls while dollar gains
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U S stocks, yields fall as reflation trade sputters

U S stocks, yields fall as reflation trade sputters
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