BNY Mellon shifts active management to affiliates
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...