Newton Wins Colorado PERA Global Equity Mandate
April 20 2009 - 8:45AM
PR Newswire (US)
Accelerates growth of BNY Mellon Asset Management boutique in U.S.
NEW YORK & LONDON, April 20 /PRNewswire-FirstCall/ -- Newton*
has announced that Newton Capital Management Limited, its business
offering services in the U.S., has been awarded a new global equity
mandate for Colorado Public Employees' Retirement Association
(PERA), the public pension fund for more than 400 government
agencies and public entities in the State of Colorado. The mandate
is the first state pension fund appointment for Newton since it
launched its U.S. business in 2006. Colorado PERA is responsible
for investing a portfolio of $29 billion on behalf of its 432,000
members who are current and former public employees and teachers in
Colorado. Newton has been managing global mandates for 30 years and
applies a single portfolio approach to running global equity
portfolios. The mandate will be managed by members of the global
equity team at Newton. Over 70% of Newton's mandates are globally
invested with over $26 billion in global equity mandates.
Commenting on the appointment, Helena Morrissey, Chief Executive
Officer of Newton said: "The appointment by Colorado PERA validates
the appeal of Newton's global thematic approach to investing and
underscores our success in accessing the U.S. marketplace. In
addition, it expands our U.S. client base to include public,
corporate and union pension funds, as well as not-for-profit
endowment and foundation-type investors. "U.S. clients and
consultants are attracted to our distinct global thematic approach
to investment and that we represent the best of both worlds - a new
entrant to the U.S. market, but one with a 30 year track record of
global investing and critical mass in terms of our existing client
base. Our business in the U.S. has grown from around $200 million
in 2006 to over $2 billion today, and we are delighted to be
continuing to build this solid footprint." Newton's appointment by
Colorado PERA follows the recent win of a large international
equity mandate from a Fortune 100 company, managed by the Newton
team on behalf of The Bank of New York Mellon. Notes to Editors:
Newton Investment Management Limited is a London-based global asset
management subsidiary of The Bank of New York Mellon Corporation
and part of BNY Mellon Asset Management. With assets under
management of more than US$50 billion, including assets managed by
dual officers of Newton Investment Management, Newton Capital
Management and The Bank of New York Mellon, the company provides a
broad range of award-winning investment products and services to
individuals, pension funds, charities and corporations. News and
other information about Newton is available at
http://www.newton.co.uk/. BNY Mellon Asset Management is the
umbrella organization for The Bank of New York Mellon Corporation's
affiliated investment management firms and global distribution
companies. The Bank of New York Mellon Corporation is a global
financial services company focused on helping clients manage and
service their financial assets, operating in 34 countries and
serving more than 100 markets. The company is a leading provider of
financial services for institutions, corporations and
high-net-worth individuals, providing superior asset management and
wealth management, asset servicing, issuer services, clearing
services and treasury services through a worldwide client-focused
team. It has $20.2 trillion in assets under custody and
administration, $928 billion in assets under management, services
more than $11 trillion in outstanding debt, and processes global
payments averaging $1.8 trillion per day. Additional information is
available at http://www.bnymellon.com/. *'Newton' refers to the
following group of affiliated companies: Newton Investment
Management Limited, Newton Capital Management Limited, Newton
International Investment Management Limited, Newton Capital
Management LLC and Newton Fund Managers (CI) Limited. Assets under
management include assets managed by all of these companies except
Newton Capital Management LLC, which provides marketing services in
the U.S. for Newton Capital Management Limited. Except for Newton
Capital Management LLC and Newton Capital Management Limited, none
of the other Newton companies offer services in the U.S.. Newton
Capital Management Limited is an investment management firm
authorized and regulated in the United Kingdom by the Financial
Services Authority in the conduct of investment business and is a
wholly owned subsidiary of The Bank of New York Mellon Corporation.
Registered in England no: 2675952. Newton Capital Management
Limited is registered in the United States as an investment adviser
under the Investment Advisers Act of 1940. All information source
BNY Mellon Asset Management as at 31 December 2008. This press
release is issued by BNY Mellon Asset Management to members of the
financial press and media and the information contained herein
should not be construed as investment advice. DATASOURCE: The Bank
of New York Mellon Corporation CONTACT: Patrice Kozlowski,
+1-212-922-6030, ; or Vee Montebello, +44-20-7163-6246, Web Site:
http://www.bnymellon.com/
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