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£150M MANDATE FOR GLASGOW CITY PENSION FUND

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Mellon Global Investments has been awarded a currency overlay mandate by Glasgow City Council in respect of£150m o...
Mellon Global Investments has been awarded a currency overlay mandate by Glasgow City Council in respect of£150m of the Strathclyde Pension Fund.

The mandate will be managed on a segregated basis by Mellon Capital Management Corporation, a Mellon subsidiary specialising in global quantitative strategies. The objective of the mandate is to seek to obtain additional outperformance through active currency management on overseas equity assets. This strategy will use dynamic risk budgeting and investment in countries offering free floating currencies, deep and liquid markets, low political risk and credible central banking policies focused on short-term rates.

Jon Little, chief executive officer of Mellon Global Investments said: 'This new mandate demonstrates Mellon Capital's sustained new business expansion in high alpha strategies. Mellon Capital has a long and successful track record of adding value and we look forward to progressing that through our relationship with Glasgow City Council.'
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