BNY Mellon Asset Management Announces Landmark Deal in China

BNY Mellon Asset Management Announces Landmark Deal in China

September 03, 2007

One of World's Leading Asset Managers Opens Doors to
Chinese Investors


    LONDON, Sept. 3 /Xinhua-PRNewswire/ -- BNY Mellon Asset
Management, the asset management arm of The Bank of New York
Mellon Corporation, has received approval from the China
Securities Regulatory Commission (CSRC) to provide
sub-advisory services in relation to a QDII mandate for
Chinese investors. The mandate will be sub-advised on
behalf of China Southern Fund Management Co.Ltd, a domestic
Chinese asset management company. 

    The Qualified Domestic Institutional Investor (QDII)
program allows Chinese investors to access foreign fund
management capabilities. 

    Founded in 1998, China Southern was the first regulated
fund management company in China, and was amongst the first
Chinese asset management companies to be authorised to
develop and market QDII products. 

    The mandate gives global equity exposure with alpha
generated from asset allocation, stock selection, and long
only fund selection. Roughly 60% is to be invested in
developed markets and 40% in emerging markets via
investment in exchange-traded funds and active type equity
funds, index funds or derivatives including
futures/forward. A leading selection of BNY Mellon Asset
Management investment subsidiaries will serve as the
sub-advisors for this mandate.
 
    Commenting on the approval Jon Little, vice-chairman of
BNY Mellon Asset Management, said: "This landmark
announcement means that we are the first non-domestic asset
managers to receive approval to advise on such a mandate,
and is an exciting opportunity for us to partner with a
local institution in bringing global investment expertise
to Chinese investors." 
 
    Notes to Editors

    The Bank of New York Mellon Corporation is a global
financial services company focused on helping clients
manage and move their financial assets, operating in 37
countries and serving more than 100 markets.  The company
is a leading provider of financial services for
institutions, corporations and high-net-worth individuals,
providing superior asset management and wealth management,
asset servicing, issuer services and treasury services
through a worldwide client-focused team.  It has more than
$20 trillion in assets under custody and administration and
more than $1 trillion in assets under management. 
Additional information is available at
http://www.bnymellon.com . 
 
    All information source Mellon Global Investments as at
30 June 2007 unless otherwise stated. This press release is
issued by Mellon Global Investments Limited to members of
the financial press and media and the information contained
herein should not be construed as investment advice. Past
Performance is not a guide to future performance.
Registered office: Mellon Financial Centre, 160 Queen
Victoria Street, London, EC4V 4LA. Registered in England
no. 1371973. Authorised and regulated by the Financial
Services Authority SMA Bank of New York Mellon Company.




    For more information, please contact:

     Rebecca Grundy
     The Bank of New York Mellon Corporation
     Tel:   [phone]
     Email: [e-mail]