Last updated: 11:23 / Monday, 11 March 2013
BNY Mellon Compass Fund

BNY Mellon renames its Luxembourg SICAV

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BNY Mellon renames its Luxembourg SICAV

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 has $1.4 trillion in assets under management. It encompasses BNY Mellon’s affiliated investment management firms, wealth management services and global distribution companies.

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