Press Releases

Nordic Win for Mellon

LONDON, 26 June 2007 — Mellon Global Investments has been chosen as the preferred manager by the Finnish asset management firm, FIM Asset Management (FIM), in respect of its €60 million FIM Euro High Yield Fund.

The FIM Euro High Yield Fund is a Finnish-domiciled non-UCITS fund investing in high yield corporate bonds. The objective of the Fund is to outperform the Merrill Lynch Index for European high yield corporate bonds by exclusively investing in the WestLB Mellon Euro High Yield Bond Fund.

Commenting on the win, Alan Mearns, chief executive of Mellon Global Investments, said: "WestLB Mellon Asset Management's fundamental, bottom up investment philosophy is an adaptable approach that has provided consistent results for investors over a wide variety of benchmarks. We are very pleased to have been selected to work with a highly regarded firm such as FIM."

Jouni Rautala, manager of the FIM Euro High Yield Fund, said: "Our decision to partner with WestLB Mellon Asset Management was based on their strong track record in the European high yield arena. We look forward to pooling our combined strengths in order to provide Finnish investors with a robust fixed income solution."

FIM Asset Management is fully owned by Glitnir, Iceland's third largest bank.