March 08, 2013

WestLB Mellon Compass Fund is Renamed BNY Mellon Compass Fund


The €2.1 billion AUM fund range comprises complementary equity and income investment strategies

LONDON and DÜSSELDORF, 8 March, 2013 – BNY Mellon announced that effective 20 February 2013, the WestLB Mellon Compass Fund, an umbrella fund providing investors a range of equity and bonds sub-funds, has been renamed BNY Mellon Compass Fund. With this move, the fund’s name now reflects the change in shareholder structure of the former WestLB Mellon Asset Management, which was fully acquired by BNY Mellon in October 2012.

The management company of the BNY Mellon Compass Fund has been operating under the name of BNY Mellon Fund Management (Luxembourg) S.A. since last November.

Launched in 1998, the BNY Mellon Compass Fund is a Luxembourg-domiciled SICAV with EUR 2.1 billion in assets under management. Through its 13 sub-funds, investors can build a diversified portfolio that meets a range of risk / return profiles. The BNY Mellon Compass Fund aims to offer investors core portfolio products such as global or corporate bond funds as well as ways to diversify their asset allocation through small caps, high yield or emerging markets funds.The sub-funds are managed by Meriten Investment Management GMBH (formerly WestLB Mellon Asset Management KAG) and other BNY Mellon Investment Management boutiques.

PeterPaul Pardi, Global Head of Distribution for BNY Mellon Investment Management, commented on the name change: “The BNY Mellon Compass Fund has in the past enjoyed investor interest from both inside and outside of Germany. As part of BNY Mellon’s multi-boutique investment management model, the Luxembourg-domiciled fund is a premier example of the rich array of complementary strategies available to investors. With this name change to better reflect BNY Mellon’s robust global reach, we intend to deepen and broaden our international footprint.”

BNY Mellon Investment Management is one of the world's leading investment management organizations and one of the top U.S. wealth managers, with $1.4 trillion in assets under management. 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 36 countries and more than 100 markets. As of December 31, 2012, BNY Mellon had $26.2 trillion in assets under custody and/or administration, and $1.4 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.

All information source BNY Mellon as of December 31, 2012. This press release is qualified for issuance in the UK and mainland Europe 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 authorized. This press release is issued by BNY Mellon Asset Management International Limited (ex-US) 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. The value of investments and the income from them is not guaranteed and can fall as well as rise due to stock market and currency movements. When you sell your investment you may get back less than you originally invested. Registered office of BNY Mellon Asset Management International Limited: BNY Mellon Centre, 160 Queen Victoria Street, London, EC4V 4LA. Registered in England no. 1118580. Authorized and regulated by the Financial Services Authority. A BNY Mellon Company.