Mellon Capital Management Named to Manage Global Tactical Asset Allocation(R) Strategy for Jackson National Asset Management, LL
December 15 2009 - 8:33AM
PR Newswire (US)
New mandate expands relationship for BNY Mellon investment boutique
SAN FRANCISCO, Dec. 15 /PRNewswire-FirstCall/ -- Mellon Capital
Management Corporation (MCM), part of BNY Mellon Asset Management,
has been named to manage a new customized Global Tactical Asset
Allocation® (GTAA®) product for Jackson National Asset Management,
LLC (JNAM), a subsidiary of Jackson National Life Insurance Company
(Jackson). JNAM's initial assets in the GTAA® strategy were $30
million. This mandate expands MCM's relationship with Jackson to
include more than 30 funds in a variety of strategies. "We
recommended Mellon Capital to the board of trustees for this
mandate because of its expertise in global markets and competitive
cost structure," said Dan Koors, chief financial officer of JNAM.
"This builds on a relationship that we have had with Mellon Capital
since 2002." "We are pleased to expand our relationship with
Jackson and provide them with a tailored GTAA® solution to fit
their clients' needs," said Michael Ho, chief investment officer of
MCM. "We are seeing increasing interest from institutions seeking
to maximize returns while limiting risk in the current volatile
environment." MCM launched GTAA®, its flagship product, in 1990 and
has a long record of developing and implementing an investment
process that seeks to profit from relative mispricings across the
world's stock, bond and currency markets. This strategy is designed
to provide an alpha source uncorrelated with traditional equity and
fixed income portfolios, shifting the portfolio toward the most
attractive opportunities indicated by MCM's models, whether they
appear in North America, Europe or Asia. Notes to Editors: Founded
in 1983 by innovators in the investment management field, Mellon
Capital Management applies a disciplined and analytical approach to
global investment management strategies. As of September 30, 2009,
the firm had $169.7 billion in assets under management, including
assets managed by dual officers of Mellon Capital Management and
Bank of New York Mellon, and $10.7 billion in overlay strategies.
Additional information about Mellon Capital is available at
http://www.mcm.com/. It is part of BNY Mellon Asset Management, one
of the world's largest asset managers. BNY Mellon Asset Management
is the umbrella organization for BNY Mellon's affiliated investment
management firms and global distribution companies. BNY Mellon is
the corporate brand of The Bank of New York Mellon Corporation. BNY
Mellon 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. BNY Mellon 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 $22.1 trillion in assets
under custody and administration and $966 billion in assets under
management, services $11.9 trillion in outstanding debt and
processes global payments averaging $1.6 trillion per day.
Additional information is available at http://www.bnymellon.com/.
About Jackson National Asset Management, LLC With $49 billion in
assets under administration (as of September 30, 2009), Jackson
National Asset Management, LLC is a provider of investment
advisory, fund accounting, fund administration and institutional
transfer agency services for 94 multi-class mutual funds as well as
eight separate accounts that support Jackson's variable annuity and
variable life insurance products. About Jackson National Life
Insurance Company With nearly $77 billion in assets*, Jackson
National Life Insurance Company is an industry leader in variable,
fixed and fixed index annuities. The company also offers life
insurance and institutional products. Jackson markets its products
in 49 states and the District of Columbia through independent and
regional broker-dealers, financial institutions and independent
insurance agents. Jackson's subsidiary, Jackson National Life
Insurance Company of New York®, similarly markets products in the
state of New York. Through its affiliates and subsidiaries, Jackson
also provides asset management and retail brokerage services. For
more information, visit http://www.jackson.com/. * Jackson has
nearly $77 billion in total IFRS assets and nearly $68 billion in
IFRS policy liabilities set aside to pay primarily future policy
owner benefits (as of 6/30/09). International Financial Reporting
Standards (IFRS) is a principles-based set of international
accounting standards indicating how transactions and other events
should be reported in financial statements. IFRS are issued by the
International Accounting Standards Board in an effort to increase
global comparability of financial statements and results. IFRS is
used by Jackson's parent, Prudential plc, to report the Group's
financial results. DATASOURCE: BNY Mellon CONTACT: Mike Dunn,
+1-212-922-7859, Web Site: http://www.bnymellon.com/
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