Management company change of the underlying funds of various Mellon funds
19 February 2019
- P67 Mellon Global Bond (USD)
- P88 Mellon Global Bond (EUR)
- L35 Mellon Global Real Return
We have been notified by BNY Mellon Global Funds, plc (“The Company”) of a change in management company of the underlying funds into which the above named funds invest. This will come into effect on or around 01 March 2019 (the “Effective Date”) unless otherwise stated.
The Company has confirmed:
“……with effect from and including the Effective Date, the manager of the Company will change from BNY Mellon Global Management Limited (“BNY MGM”) to BNY Mellon Fund Management (Luxembourg) S.A. (“BNY MFM Lux”). With effect from and including the Effective Date, BNY MFM Lux will be responsible for the management and administration of the Company and each Sub-Fund’s affairs subject to the overall supervision and control of the Directors of the Company.
BNY MGM and BNY MFM Lux are both ultimately wholly owned subsidiaries of The Bank of New York Mellon Corporation. The change of manager follows a strategic review by The Bank of New York Mellon Corporation Group of its management company operations. As a result of this strategic review, we understand consideration is being given to whether such services should continue to be offered out of BNY MGM. In light of this and given the possibility that management services will no longer be offered out of BNY MGM, we have considered the option of appointing an alternative service provider and in particular, have reviewed the services offered out of BNY MFM Lux, a UCITS and AIFM management company authorised by the Commission de Surveillance du Secteur Financier. As a result, we, the Directors of the Company have determined that it is in the best interests of Shareholders to appoint BNY MFM Lux as manager in place of BNY MGM.”
Should you have any questions regarding these changes, please contact International Funds & Investments.