Asia's first SMA business offers investors transparency, control and choice
HONG KONG 15 January 2014 - BNY Mellon, the global leader in investment management and investment services, has launched SPECTRUM, Asia’s first separately managed accounts (SMA) business that offers investors a choice of investment strategies from leading global asset managers. BNY Mellon has partnered with nine prominent investment advisors to offer more than 20 investment strategies. For the first time in Asia, high net worth individuals will have access to strategies and services that have been exclusive to institutional investors.
“SPECTRUM is about transparency, control and choice,” said AJ Harper, President and Chief Executive Officer for BNY Mellon Managed Investments, the firm’s Asia Pacific SMA business. “It enables wealth managers to let investors see all the holdings in an investment strategy and control the composition. We believe it is a major breakthrough for Asian wealth management because individual investors will be able to do this with strategies managed by some of the world’s top investment advisers.”
BNY Mellon selected the investment advisers and strategies for SPECTRUM using a rigorous due diligence process that focused on both quantitative and qualitative analysis of the organization, personnel, philosophy, process, implementation and performance. The select investment advisers1 for SPECTRUM include: BlackRock Investment Management, LLC, BNY Mellon Asset Management Japan Limited, Capital International, Inc., CenterSquare Investment Management, Inc., Henderson Global Investors Limited, Lazard Asset Management, LLC, Mellon Capital Management Corporation, The Boston Company Asset Management, LLC and UOB Asset Management Limited.
Robert Prugue, CEO of Lazard Asset Management, LLC, said “Here in Asia, our strategies to date have mainly been offered to institutional investors only. The launch of this SMA platform provides us with a significant opportunity, as it opens a new distribution channel in Asia.”
The strategies offered on SPECTRUM provide a diverse range of Asian, global and thematic investment portfolios suitable for Asian investors. In addition, SPECTRUM offers investors a powerful level of customization . For example, all strategies are available in an investor’s currency of choice and investors can customize any strategy by excluding a certain security, sector or country to meet their own investment preferences, including social responsibility. Until now, this level of customization was usually reserved for institutional investors with at least US$100 million. Now through SPECTRUM it is available to individual investors at US$1million.
The launch of SPECTRUM in Asia represents a global strategic initiative that brings together the expertise of BNY Mellon’s $1.5 trillion investment management business and the capabilities of its $27 trillion investment services business to build a managed account business specifically tailored for Asian investors. In the U.S., BNY Mellon is a global leader in third-party managed accounts with nearly $370 billion in assets under administration*.
“Empowering the individual investor with this unprecedented combination of transparency, control and choice will surely transform the Asian wealth landscape as it has in other parts of the world,” said BNY Mellon Investment Management APAC CEO Alan Harden. “Through SPECTRUM we will work closely with our new partners to shape the evolving landscape into one that best meets the needs of high net worth individuals in the region.”
BNY Mellon Managed Investments** is Asia’s first third-party managed accounts company that enables financial intermediaries to deliver professionally managed multi-currency investment accounts to high net worth investors in the region. It is part of BNY Mellon, a global leader in third-party managed accounts, with nearly $370 billion in assets under administration*, servicing more than 1 million client accounts* as of September 30, 2013. The company combines the investment expertise of BNY Mellon’s $1.5 trn investment management business and the operational capabilities of the firm’s $27.4trn investment services business.
BNY Mellon Investment Management is one of the world's leading investment management organizations and one of the top U.S. wealth managers, with $1.5 trillion in assets under management as of September 30, 2013. It encompasses BNY Mellon's affiliated investment management firms, wealth management services and global distribution companies. More information can be found at www.bnymellon.com
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of September 30, 2013, BNY Mellon had $27.4 trillion in assets under custody and/or administration, and $1.5 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com, or follow us on Twitter @BNYMellon
1 Except for UOB Asset Management Limited which is regulated by the Monetary Authority of Singapore, other Investment Advisers are licensed in their local jurisdictions and not with the Securities and Futures Commission in Hong Kong or the Monetary Authority of Singapore.
*Data as of 9/30/12. Managed Investments is a service of Pershing LLC. Lockwood Advisors, Inc. and Lockwood Solutions, Inc. are affiliates of Pershing LLC, each subsidiaries of the Bank of New York Mellon Corporation. Lockwood Advisors, Inc. (Lockwood) is an investment adviser registered in the United States under the Investment Advisers Act of 1940, an affiliate of Pershing LLC, and both wholly owned subsidiaries of The Bank of New York Mellon Corporation (BNY Mellon). Pershing LLC, member FINRA, NYSE, SIPC.
**BNY Mellon Managed Investments in Asia consists of BNY Mellon Managed Investments Limited and the Managed Investments division within BNY Mellon Investment Management Singapore Pte. Limited.
This press release is qualified for issuance in Hong Kong and Singapore and is for information purposes only. It does not constitute an offer or solicitation of securities or investment services or an endorsement thereof in any jurisdiction or in any circumstance in which such offer or solicitation is unlawful or not authorised. This press release is issued by BNY Mellon Managed Investments Limited and BNY Mellon Investment Management Singapore Pte. Limited to members of the financial press and media and the information contained herein should not be construed as investment advice. Past performance is not a guide to future performance. Principal place of business of BNY Mellon Managed Investments Limited: Level 18, Three Pacific Place, 1 Queen’s Road East, Hong Kong. Licensed and regulated by the Securities and Futures Commission. Principal place of business of BNY Mellon Investment Management Singapore Pte. Limited: One Temasek Avenue, #04-02 Millenia Tower, Singapore 039192. Co. Reg. 201230427E . Regulated by the Monetary Authority of Singapore A BNY Mellon CompanySM