Mellon Global Investments has been awarded the Global Tactical Asset Allocation mandate for the $3.1 billion pension fund of Cheshire County Council.
The mandate will be managed by Mellon Capital, a San Francisco-based Mellon subsidiary specializing in global quantitative strategies. The purpose of the mandate is to provide supplemental alpha to the pension fund. This will be achieved through a global tactical asset allocation approach seeking to add value by allocating across asset classes, countries and currencies.
This win is the fourth of its kind from UK pension funds to be awarded to Mellon Capital in the last 12 months.
Commenting on the win, Jon Little, chief executive officer of Mellon Global Investments and co-chair of Mellon International, said, “This reflects the continued strong performance and robust investment process of Mellon Capital, and our ability to consistently match client needs with the expertise of our investment managers. It is also part of a growing trend that we are seeing in the UK pension fund marketplace. We are delighted to work with Cheshire County Council and look forward to seeing our relationship develop further.”