July 12, 2011

Insight & Newton Win Joint Industry Award

BNY Mellon Asset Management Firms Share Top Accolade

LONDON, 12 July, 2011 — BNY Mellon Asset Management was well represented at the 2011 Investment Week Awards. Insight Investment Management (Global) Limited and Newton Investment Management Limited both won key industry awards at the event, held at the Royal Albert Hall in London.

The Absolute Insight UK Equity Market Neutral Fund and the Newton Real Return Fund, were jointly awarded best fund in the Absolute Return sector. This is the first year that such an award has been made, recognising the importance of this strategy for UK retail investors. Four of the six nominated funds were from BNY Mellon Asset Management.

Commenting on the awards, Mitchell Harris, president of BNY Mellon's Investment Management division, said: "Insight and Newton's distinctive approaches to absolute return investing have provided investors with attractive returns across varied market conditions. Having two of our asset management firms receive a joint award for their investment expertise is a real testament to our multi-boutique approach."

The Newton Real Return Fund is one of Newton's longest established funds. Launched in April 2004, the fund is an unconstrained, actively managed multi-asset portfolio that seeks to produce a real return in excess of a cash benchmark (LIBOR + 4%) over an investment horizon of 3-5 years, with significantly less volatility than equities. Working within Newton's global thematic process, fund manager Iain Stewart and Newton's experienced investment management team, have delivered top quartile performance over 1, 3 and 5 years*.

Launched in February 2007, the Absolute Insight UK Equity Market Neutral Fund has beaten its benchmark of 3-month LIBID over 1 and 3 years and since inception*. The Fund aims to deliver positive absolute returns in all market conditions, investing in both long and short positions in the UK market by employing a paired trade approach. The skilled team of investment professionals, which includes Andy Cawker, Iain Brown and Richard Howarth, aims to profit from investment opportunities through carefully constructed investment positions where risk is focused on the specific return drivers being targeted, while unwanted risks are hedged out.

The Investment Week Awards are designed to recognise and reward excellence in the UK investment industry. The judges use a combination of quantitative performance-based screens and qualitative factors to determine the winner. This year for the first time there was an award for absolute return funds, based on the Investment Management Association's Absolute Return classification.

Insight Investment manages funds for institutional and retail clients across a range of asset types including equities, bonds, derivatives and alternatives, with the aim of providing precise investment solutions for investment needs. Insight is responsible for assets under management of $190.2 billion represented by the value of physical securities and liability benchmarks. Additional information is available at www.insightinvestment.com.

Newton is a London-based global asset management subsidiary of The Bank of New York Mellon Corporation and part of BNY Mellon Asset Management. With assets under management of more than £47 billion, including assets managed by Newton Investment Management Limited as dual officers of Newton Capital Management Limited and The Bank of New York Mellon, Newton's group of affiliated companies provides a broad range of award-winning investment products and services to individuals, pension funds, charities and corporations. News and other information about Newton is available at www.newton.co.uk.

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.

*Source: Lipper Hindsight to 30/06/11, total return in GBP including annual charges and excluding initial charges. All other information source BNY Mellon Asset Management at March 31, 2011. This press release is qualified for issuance in the UK only 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 Asset Management International Limited to members of the financial press and media and the information contained herein should not be construed as investment advice. The value of investments and the income from them can fall as well as rise and investors may not get back the original amount invested. The Prospectus and/or Simplified Prospectus should be read before an investment is made. The Newton Real Return Fund is a sub-fund of BNY Mellon Investment Funds, an investment company with variable capital (ICVC) incorporated in England and Wales under registered number IC27 and authorised by the Financial Services Authority. Absolute Insight UK Equity Market Neutral Fund is a sub-fund of Absolute Insight Funds plc, an investment company with variable capital (ICVC) incorporated in Ireland under registered number 431087 and authorised by the Central Bank of Ireland. Past performance is not a guide to future performance. Registered office of BNY Mellon Asset Management International Limited: BNY Mellon Centre, 160 Queen Victoria Street, London, EC4V 4LA. Registered in England no. 1118580. Authorised and regulated by the Financial Services Authority. A BNY Mellon Company(SM)