GLOBAL - BNY Mellon Asset Management has launched two investment boutiques - one focused on the management of domestic Australian equities, the other on emerging markets equities and global fixed income.
Ankura Capital - which is headquartered in Sydney, Australia - manages approximately AUS$1bn (US$676m) in Australian equities and has a primarily Australian client base.
Greg Vaughan will continue as the firm's managing director and chief investment officer.
Blackfriars Asset Management focuses on global and regional emerging markets equity, debt, and global fixed income.
It is headquartered in London and has more than US$2.3bn in assets under management. It will continue to be led by chief executive officer Hugh Hunter.
BNY Mellon Asset Management president and chief executive officer Ronald P. O'Hanley said: "The launch of these two new boutiques recognises our ability to meet clients' needs as they look to alternative sources for alpha."
BNY Mellon Asset Management vice chairman Jon Little added: "Accelerating the already significant growth of our asset management business in Australia and the Asia Pacific region as a whole is a key strategic priority for us.
"In addition, many emerging markets economies are in a position of relative strength compared to their Western counterparts. We see increased investment opportunities in this area, and in our dialogues with clients globally many of them are looking at these types of strategies to drive the growth of their investment portfolios."
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