Mellon and Vianova launch global product

James Gruver

International specialist investment company, Mellon Global Investments Australia, has entered into partnership with domestic specialist, Vianova Asset Management, to launch a new fixed interest product.

Core Plus is the name of the new institutional product and will be a high conviction, actively-managed fixed interest product targeted at institutional investors.

The product, which is available from this month, will be managed against an Australian benchmark with a capability to allocate up to 50 per cent to international fixed interest securities.

“Our research suggests that, as Core Plus will reflect the investment philosophies of both managers and combines domestic and global fixed income investments, it will have a useful role to play in the portfolios of Australian institutions,” Vianova chief investment officer Michael Schneider said.

According to Mellon managing director James Gruver, Core Plus has been designed to leverage the thematic investment approach of both Vianova and Mellon’s global thematic specialist, Newton, specifically for the Australian institutional market.

Gruver defines a thematic investment approach as considering observable global trends, such as technology or an ageing population, and then using these to determine the kinds of investments a company gets involved in.

Although Mellon and Vianova have never worked together before, Gruver describes the relationship so far as a “fantastic marriage”.

“Our companies are very similar but neither company has any aspirations to do the other person’s business,” Gruver said.