BNY Mellon IM: Enhances investment capabilities of Insight, Newton and Dreyfus CIS
BNY Mellon Investment Management and four of its investment firms announced plans to realign Mellon Investments Corporation’s (Mellon’s) capabilities in fixed income, equities and multi-asset, and liquidity management with Insight Investment (Insight), Newton Investment Management (Newton) and Dreyfus Cash Investment Strategies (Dreyfus CIS), respectively.
The decision, made in partnership with the investment firms, will enhance their respective specialist capabilities, and strengthen their research platforms and global reach. The transition of Mellon’s capabilities is expected to be completed by the third quarter of 2021, subject to regulatory approvals. There will be no change to the firms’ investment processes or philosophies during the transition period as a result of the changes announced today.
'In the face of a rapidly changing investment environment, well-resourced specialist expertise with global research capabilities are needed to deliver the outcome-focused solutions clients expect', said Hanneke Smits, CEO of BNY Mellon IM. 'The realignment of Mellon’s investment capabilities with Insight, Newton and Dreyfus CIS is part of our commitment to providing our clients with a range of investment strategies that meet their current and evolving objectives.'
The transition of Mellon’s fixed income investment teams will enable Insight to solidify its position as a leading global fixed income solutions and liability-driven investment (LDI) manager with $1.1 trillion in AUM.
Mellon’s $105.2 billion in fixed income capabilities across stable value, municipal, Efficient Beta and taxable fixed income strategies are highly complementary to Insight’s investment expertise. The investment processes share considerable common ground and the combined team will have enhanced collective coverage of the U.S., the world’s largest and most diverse fixed income market.
'We are very excited to bring Mellon’s U.S. based fixed income teams into Insight. Their expertise and breadth of investment capabilities will further strengthen our ability to deliver for our clients. Mellon’s specialized fixed income capabilities are highly complementary to Insight’s strong range of existing core U.S. strategies, and this move will broaden and deepen our specialist U.S. fixed income capability. It will also give us new sources of investment opportunities and innovation for our clients, which I expect will enhance our reputation with clients as a complete and at-scale leader in global investment management', said Abdallah Nauphal, CEO of Insight Investment.