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The Markets January 4, 2007
Mellon Releases Target Maturity Funds
Mellon Capital Management Corporation has launched the Mellon Capital Target Maturity Funds, a group of portfolios designed to systematically adjust investors' asset allocation as they approach their projected retirement date.
Reported by Rebecca Moore
According to a Mellon press release, the funds also aim to increase returns by using a strategy that tactically takes long and short positions in global stock, bond and currency markets.
Ralph Goldsticker, managing director of investment research at Mellon Capital, said in the release the new funds use strategies created for pension funds and other institutional clients.
“[T]hey employ a global tactical asset allocation strategy to opportunistically adjust the exposure to global stock, bond and currency markets. Utilizing this portfolio of diverse strategies including the global tactical asset allocation component, we expect to generate higher rates of return, resulting in higher income at retirement,” said Goldsticker, in the release.
More information about Mellon Capital can be obtained at www.mcm.com.