Mellon Global Investments Australia(MGIA) has launched two new wholesale trusts aimed at institutional investors.
The local arm of Mellon Financial Corporation launched the Mellon Global Tactical Asset Allocation Trust and the Mellon Global Equities Trust in December last year, and claim to have already attracted more than $120 million of investment.
MGIA’s James Gruver says the launch of the two trusts represents the start of a range of strategies designed to bring the best of Mellon’s specialist boutique asset management firms to Australia.
The Mellon Global Tactical Asset Allocation Trust is sub-advised by Mellon Capital Management in San Francisco and follows a so-called “alpha transport strategy” with a target of 15 to 20 per cent alpha a year with 15 per cent risk.
The Mellon Global Equities Trust is sub-advised by The Boston Company Asset Management LLC and has a global equity core strategy, with a target of 2 to 3 per cent alpha a year.
