BNY Mellon has launched SPECTRUM, Asia’s first separately managed accounts (SMA) business that offers investors a choice of investment strategies from leading global asset managers.
BNY Mellon has partnered with nine prominent investment advisors to offer more than 20 investment strategies. For the first time in Asia, high net worth individuals will have access to strategies and services that have been exclusive to institutional investors.
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AJ Harper, president and CEO for BNY Mellon Managed Investments, said: "SPECTRUM is about transparency, control and choice. It enables wealth managers to let investors see all the holdings in an investment strategy and control the composition. We believe it is a major breakthrough for Asian wealth management because individual investors will be able to do this with strategies managed by some of the world’s top investment advisers."
BNY Mellon selected the investment advisers and strategies for SPECTRUM using a rigorous due diligence process that focused on both quantitative and qualitative analysis of the organization, personnel, philosophy, process, implementation and performance.
The select investment advisers1 for SPECTRUM include: BlackRock Investment Management, LLC, BNY Mellon Asset Management Japan Limited, Capital International, Inc., CenterSquare Investment Management, Inc., Henderson Global Investors Limited, Lazard Asset Management, LLC, Mellon Capital Management Corporation, The Boston Company Asset Management, LLC and UOB Asset Management Limited.
Robert Prugue, CEO of Lazard Asset Management, LLC, said: "Here in Asia, our strategies to date have mainly been offered to institutional investors only. The launch of this SMA platform provides us with a significant opportunity, as it opens a new distribution channel in Asia."
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By GlobalDataThe strategies offered on SPECTRUM provide a diverse range of Asian, global and thematic investment portfolios suitable for Asian investors. In addition, SPECTRUM offers investors a powerful level of customization .
For example, all strategies are available in an investor’s currency of choice and investors can customize any strategy by excluding a certain security, sector or country to meet their own investment preferences, including social responsibility.
Until now, this level of customization was usually reserved for institutional investors with at least US$100 million. Now through SPECTRUM it is available to individual investors at US$1million.
The launch of SPECTRUM in Asia represents a global strategic initiative that brings together the expertise of BNY Mellon’s US$1.5 trillion investment management business and the capabilities of its US$27 trillion investment services business to build a managed account business specifically tailored for Asian investors.
In the US, BNY Mellon is a global leader in third-party managed accounts with nearly US$370 billion in assets under administration.
Alan Harden, CEO BNY Mellon Investment Management APAC, said: "Empowering the individual investor with this unprecedented combination of transparency, control and choice will surely transform the Asian wealth landscape as it has in other parts of the world. Through SPECTRUM we will work closely with our new partners to shape the evolving landscape into one that best meets the needs of high net worth individuals in the region."
