Press Releases
Mellon Transition Management Services Appointed by North Yorkshire County Council Pension Fund
LONDON, 2 November 2006 — Mellon Financial Corporation today announced that its Mellon Transition Management Services (MTMS) group has completed a successful transition management mandate in respect of a £680 million global equity portfolio for the North Yorkshire County Council Pension Fund.
The dedicated MTMS team provided the transfer of assets from North Yorkshire's legacy portfolio to its target portfolio by using a variety of investment management, risk management, trading and asset servicing skills.
Commenting on the transition, Mark Keleher, president of Mellon Transition Management Services, said: "With pressure to reduce costs and sustain performance pension funds are always looking at ways to cost effectively manage their portfolio and investments. The model at MTMS, which combines state of the art systems with the resources of a world-class custodian and one of the world's leading asset management firms, gives our clients the assurances they need to carry out an effective, successful transition. We were thrilled to have been appointed by North Yorkshire and having had the opportunity to work with them."
Neil Sellstrom of the North Yorkshire County Council Pension Fund added: "We have been delighted to work with MTMS on these significant changes to our global equity mandates and we are very pleased with the outcome that was achieved."
Earlier this year, MTMS was named 'Best in Class' in five critical categories in the 2006 Plan Sponsor Survey of the transition management industry. Services are offered internationally through Mellon Global Investments, the international distribution subsidiary of 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 asset management, private wealth management, asset servicing and payment solutions and investor services. Mellon has approximately $5.3 trillion in assets under management, administration or custody, including