GERMANY - HVB Group has selected Mellon Financial Corporation to provide a range of asset management and asset servicing solutions for its newly launched multi-manager programme.
HVB Group said it is the first bank in Germany to launch a multi-manager programme for institutional clients in Europe. The bank’s multi-manager programme differs from a fund-of-funds structure, in that individual mandates, rather than wholesale funds, are awarded to asset managers.
The programme consists of 12 asset classes, each consisting of two separately managed portfolios. Mellon Global Investments, Mellon’s international asset management distribution subsidiary, will be responsible for the management of portfolios in seven asset classes.
These include global high yield bond, global bond, European bond, emerging markets equity, emerging markets bonds, US small cap, and US bond.
Mellon Global Securities Services will provide asset servicing for the multi-manager programme, which assumes a Ucits structure. Transfer agency and investment administration will be provided by Mellon Fund Administration in Dublin.
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