FALKIRK COUNCIL PENSION FUND AWARDS
GLOBAL EQUITY MANDATE TO NEWTON
London
10 May 2006
Newton Investment Management Limited, the UK asset management subsidiary of Mellon Financial Corporation, has been awarded a £150m global unconstrained equity mandate for the Falkirk Council Pension Fund.
Newton has been managing global equity mandates for over 25 years and has been running this type of unconstrained mandate since October 2004. The strategy utilises the same investment philosophy and process that Newton has applied since the inception of the company. The global unconstrained approach represents a concentrated global equity portfolio, constructed with regard to the merits of the underlying investments rather than being influenced by benchmark composition. Members of the global equity team at Newton will manage the mandate.
Commenting on the win, Helena Morrissey, chief executive officer of Newton, said: "Falkirk is the first local authority to appoint us for this type of strategy, which has produced strong absolute returns for other institutional clients since its launch. We are delighted with the appointment and look forward to a long relationship."
Contact:
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Jamie Brookes +44 (0) 20 7163 2146 |
Rebecca Grundy +44 (0) 20 7163 2744 |
Notes to editors:
Newton Investment Management Limited is a London-based UK asset management subsidiary of Mellon Financial Corporation. With assets under management of over £31 billion, the company provides a broad range of award-winning investment products and services to individuals, pension funds, charities and corporations. Newton has offices in London, Edinburgh, Leeds and Jersey. News and other information about Newton is available at www.newton.co.uk .
Mellon Financial Corporation Mellon Financial Corporation is a global financial services company. Headquartered in Pittsburgh, Mellon is one of the world's leading providers of financial services for institutions, corporations and high net worth individuals, providing institutional asset management, mutual funds, private wealth management, asset servicing, payment solutions and investor services, and treasury services. Mellon has approximately $4.9 trillion in assets under management, administration or custody, including $808 billion under management. News and other information about Mellon is available at www.mellon.com .
All information and figures source Newton unless otherwise stated as at 31 March 2006. This press release is issued by Newton Investment Management Limited to members of the financial press and media and the information contained herein should not be construed as investment advice. Past Performance is not a guide to future performance. Registered office: Mellon Financial Centre, 160 Queen Victoria Street, London, EC4V 4LA. Registered in England no. 1371973. Authorised and regulated by the Financial Services Authority
A Mellon Financial CompanySM
