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Mellon Capital to manage USD100m mandate in active credit strategy

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Mellon Capital Management, part of BNY Mellon Asset Management, has been selected by the United Technologies Corporation Master Retirement Trust, a defined benefit pension plan, to manage USD100m in an active credit strategy that invests in long-term corporate bonds.

"We continue to see rising interest in our active credit strategies due to our systematic risk controls and innovative credit model," says Charlie Jacklin (pictured), president and chief executive officer of Mellon Capital. "Rather than attempting to add value by investing in bonds outside the benchmark, this mandate for United Technologies seeks to add value by overweighting the securities we believe will be winners and underweighting those we believe will be losers within the benchmark’s universe."

The Mellon Capital strategy is benchmarked against a specialised high-quality benchmark with a duration of approximately ten years.

The new mandate raises the assets managed under Mellon Capital’s active corporate credit strategies to over USD800m.

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