LONDON, 27 June 2011 — BNY Mellon Western Fund Management Co. Ltd, a joint venture between Western Securities and BNY Mellon, and part of BNY Mellon Asset Management, has been named the 'Fund Management Company with the Most Potential' at the 2010 WIN Fund Awards, hosted by the 21st Century Business Herald newspaper in Shanghai.
The 21st Century Business Herald newspaper applauded the success of BNY Mellon Western FMC, which celebrates its first anniversary in July, noting that the company has attracted much market attention since its launch, and that chief executive officer Dr. Bin Hu, has 'rich practical experience of both the U.S. and China A-share markets'.
"Any new entrant to the investment management sector can face a formidable hurdle due to its lack of a performance record and infrastructure," said Dr Hu. "We are therefore incredibly proud to have been recognized for all our accomplishments over the last 12 months.
"We have very ambitious expansion plans, which include becoming one of China's leading QFII advisors, but our over-arching priority today is to build a strong investment and research team, and to establish a comprehensive asset management platform, leveraging the local and international experiences of our people and our parent companies," added Dr Hu.
BNY Mellon Western FMC launched its debut fund, the BNYMW Multi-Strategy Fund, on 25 January 2011.
21st Century Business Herald has hosted the annual Win Fund Awards for six years. These awards are considered to be one of the most authoritative lists in China's fund industry.
BNY Mellon Western Fund Management Company Ltd was authorized by the China Securities Regulatory Commission (CSRC) in July 2010 and is 51% owned by Western Securities, 49% by BNY Mellon. BNY Mellon Western FMC manages domestic Chinese securities in a growing range of local retail fund products.
BNY Mellon Asset Management is one of the world's leading asset management organizations, encompassing BNY Mellon's affiliated investment management firms and global distribution companies. Information about BNY Mellon Asset Management can be found at www.bnymellonam.com.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $25.5 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.7 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available at www.bnymellon.com.
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