Mellon Global Investments, the London-based international distribution subsidiary of Mellon Financial Corp., said Tuesday that it has been awarded the global tactical asset allocation mandate for the $3.1 billion pension fund of Cheshire County Council in Britain.
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The mandate is to be managed by Mellon Capital, a San Francisco-based Mellon subsidiary specializing in global quantitative strategies. The purpose of the mandate is to add value by allocating across asset classes, countries, and currencies through global tactical asset allocation.
The mandate is the fourth of its kind from a U.K. pension fund awarded to Mellon Capital in the last 12 months. The Mellon unit had $125.8 billion of assets under management at June 30.
