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Article: BNY Mellon Unit Adds Fund.(Wealth Management)(The Bank of New York (New York, New York))(Mellon Capital Management Corp.)(Brief article)
- Article from:
- American Banker
- Article date:
- February 12, 2009
- Author:
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Byline: Matt Ackermann
Mellon Capital Management Corp.of San Francisco,a unit of Bank of New York Mellon Corp., has launched a fund called Mellon Capital High Quality Long Corporate Bond Strategy with $100 million of assets from three clients.
The fixed-income product, developed to help pension funds protect assets against market volatility, primarily invests in high-quality, longer-term corporate bonds "that are rated at least single A and have a maturity of more than 20 years," itsaid Tuesday.
The fund aims to insulate sponsors. Such "liability driven investment strategies," ...