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BNY Mellon shifts active management to affiliates
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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.