Mellon launches new equity trust
Mellon Financial Corporation has launched a new equity trust through its Australian distribution channel aimed at institutional investors.
Mellon Global Investments Australia, the Australian distribution subsidiary of Mellon Financial Corporation, has launched the Mellon Australian Equity Long/Short Trust.
The Mellon Australian Equity Long/Short Trust is sub-advised by Mellon Capital Management Corporation in San Francisco, and follows a large and mid cap stock.
Commenting on the new trust, Mellon Capital’s managing director of active equity strategies Warren Chiang said: “This product embodies Mellon Capital’s commitment to delivering consistent value-added investment strategies. We are pleased to make it available to Australia’s institutional investors.”
Australian Wealth Management’s asset management arm United Funds Management is the seed client for the new trust.
Mellon Capital has in excess of A$223.3 billion in assets under management, including assets managed as
dual officers and A$38.6 billion in overlay strategies.
Recommended for you
Three of Australia’s largest financial advice groups have shared their thoughts with Money Management on whether they would include crypto on their approved product lists.
Shadow treasurer Angus Taylor has vowed to introduce a bill to legislate a raft of financial services reforms if the Coalition is elected.
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.
A $3.5 million settlement for victims of Melissa Caddick has been approved by the Federal Court following an initial agreement last December.
