MFS Investment Management's (MFSIM) Premium Income Fund has placed $17.5 million with Mellon Global Investments.
The mandate has been awarded to Mellon's Australian-domiciled Mellon Global Bond Alpha Trust.
The trust invests in global fixed income, cash and currency markets, looking to outperform the UBS Australia Bank Bill Index.
"This strategy will be an important contributor to the overall performance and diversification of the fixed interest sector of the Premium Income Fund." MFSIM chief executive Guy Hutchings said.
The Mellon Global Bond Alpha Trust, launched in September last year, manages $60 million and is sub-advised by the Global Alpha team at Mellon Capital Management Corporation in San Francisco.
Mellon Capital has more than $223.3 billion in assets under management, including assets managed as dual officers and $38.6 billion in overlay strategies.
Mellon Global Investments is the Australian distribution subsidiary of The Bank of New York Mellon.
