Accelerates growth of BNY Mellon Asset Management boutique in Canada
LONDON, NEW YORK and TORONTO, Aug. 3 /CNW/ -- Newton(*) has announced that
Newton Capital Management Limited, its business offering services in Canada
and the U.S., has been awarded a new global equity mandate for TD Asset
Management Inc. (TDAM), the manager of TD Mutual Funds.
Under the TD Mutual Funds name, TDAM provides a diverse range of over 60
mutual funds and 20 professionally managed portfolios. TDAM manages retail
mutual fund assets on behalf of more than 1.4 million investors, and TD Mutual
Funds is one of the most broadly diversified fund families in Canada. Newton
Capital Management will become portfolio adviser to the TD Global Select Fund.
The mandate is the largest subadvisory assignment for Newton in Canada.
Newton has been managing global mandates for 30 years and applies a
single portfolio approach to running global equity portfolios. The mandate
will be managed by members of the global equity team at Newton.
Over 75% of Newton's mandates are globally invested with over $20 billion
in global equity mandates.
Commenting on the appointment, Helena Morrissey, Chief Executive Officer
of Newton said: "The appointment by TD Asset Management validates the appeal
of Newton's global thematic approach to investing and underscores our success
in accessing the Canadian marketplace. It expands our Canadian client base to
include one of the most broadly diversified fund families in Canada.
"Our 30 year track record of global investing and critical mass in terms
of our existing client base is a strong attraction for Canadian investors. Our
business in North America has grown from around $500 million in 2006 to over
$2.5 billion today, and we are delighted to be continuing to build this solid
Newton's appointment by Canadian TD Asset Management follows its recent
win of a new global equity mandate for Colorado Public Employees' Retirement
Association (PERA), the public pension fund for more than 400 government
agencies and public entities in the State of Colorado. The mandate was the
first state pension fund appointment for Newton since it launched its U.S.
business in 2006.
Notes to Editors:
Newton(*) is a global asset management subsidiary of The Bank of New York
Mellon Corporation and part of BNY Mellon Asset Management. With assets under
management of more than US$56 billion, including assets managed by Newton
Investment Management as dual officers of Newton Capital Management Limited
and The Bank of New York Mellon, the company provides a broad range of
award-winning investment products and services to individuals, pension funds,
charities and corporations. News and other information about Newton is
available at www.newton.co.uk.
BNY Mellon Asset Management is the umbrella organization for The Bank of
New York Mellon Corporation's affiliated investment management firms and
global distribution companies.
The Bank of New York Mellon Corporation is a global financial services
company focused on helping clients manage and service their financial assets,
operating in 34 countries and serving more than 100 markets. The company is a
leading provider of financial services for institutions, corporations and
high-net-worth individuals, providing superior asset management and wealth
management, asset servicing, issuer services, clearing services and treasury
services through a worldwide client-focused team. It has $20.7 trillion in
assets under custody and administration, $926 billion in assets under
management, services $11.8 trillion in outstanding debt and processes global
payments averaging $1.8 trillion per day. Additional information is available
TD Mutual Funds are not registered with the United States Securities and
Exchange Commission and are not offered for sale or sold in the United States.
(*)'Newton' refers to the following group of affiliated companies: Newton
Investment Management Limited, Newton Capital Management Limited, Newton
International Investment Management Limited, Newton Capital Management LLC and
Newton Fund Managers (CI) Limited. Assets under management include assets
managed by all of these companies except Newton Capital Management LLC, which
provides marketing services in the U.S. for Newton Capital Management Limited.
Except for Newton Capital Management LLC and Newton Capital Management
Limited, none of the other Newton companies offer services in the US and
Canada. Newton Capital Management Limited is an investment management firm
authorized and regulated in the United Kingdom by the Financial Services
Authority in the conduct of investment business and is a wholly owned
subsidiary of The Bank of New York Mellon Corporation. Registered in England
no: 2675952. Newton Capital Management Limited is registered in the United
States as an investment adviser under the Investment Advisers Act of 1940. All
information source BNY Mellon Asset Management as at 30/06/09. This press
release is qualified for issuance in the UK, US and Canada and is for
information purposes only. It does not constitute an offer or solicitation of
securities or investment services or an endorsement thereof in any
jurisdiction or in any circumstance in which such offer or solicitation is
unlawful or not authorised. This press release is issued by BNY Mellon Asset
Management (US & Canada) and BNY Mellon Asset Management International Limited
(ex-US/Canada) 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 of BNY
Mellon Asset Management International: The Bank of New York Mellon Centre, 160
Queen Victoria Street, London, EC4V 4LA. Registered in England no. 1118580.
Authorised and regulated by the Financial Services Authority. A Bank of New
York Mellon Company(SM)
For further information:
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email@example.com, or Vee Montebello, +44-20-7163-6246,
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