The BNY Mellon Emerging Markets Equity Fund managed by Blackfriars Asset Management

LONDON, 06 May 2009 — BNY Mellon Asset Management has announced the launch of an emerging markets equity fund. Domiciled in Dublin, the BNY Mellon Emerging Markets Equity Fund is a sub-fund of BNY Mellon Global Funds, plc, and will be managed by Blackfriars Asset Management Ltd, one of BNY Mellon's boutique asset managers specialising in emerging markets and global fixed income.

The BNY Mellon Emerging Markets Equity Fund will be managed by Tony Hann, Head of Emerging Markets Equities at Blackfriars Asset Management. Hann has over 20 years of experience investing in emerging markets. Bill Rudman and Richard Fairgrieve, both Global Portfolio Managers, will act as alternate fund managers. The Fund will be managed in line with Blackfriars Asset Management's investment approach: a fundamentals driven bottom-up stock selection process combined with disciplined quantitative top-down analysis. Up to 75% of the Fund's total assets will be invested in a portfolio of equity and equity related securities of companies in emerging market countries.

Commenting on the launch, Hugh Hunter, Chief Executive of Blackfriars Asset Management, said: "We are excited to be able to launch a fund that will allow us to take advantage of the opportunities that have been created by the unprecedented market volatility brought on by the credit crunch. We believe that inefficiencies exist across emerging market countries and we aim to exploit these by capturing the return differentials which arise from countries at different stages of their economic development and political cycles. We believe that our investment strategy will allows us to add alpha through both country allocation and stock selection."

Tony Hann, Head of Emerging Markets Equities at Blackfriars Asset Management, added: "Our view is that the story for emerging markets is largely in place and we believe long-term investors should remain invested. For those investors who are considering whether to increase their exposures, the asset class may well present a very attractive buying opportunity during 2009. This will be a challenging year for emerging market economies but there are still interesting investments to be made."

Alan Mearns, Chief Executive Officer of BNY Mellon Asset Management International, concluded: "The BNY Mellon Emerging Markets Equity Fund complements our existing client offering and gives investors the opportunity to take advantage of the current buying opportunities that emerging markets offer. Indeed these are still some of the fastest growing economic markets in the world; managing funds in this area necessitates a specialist approach and in depth experience of the investment cultures of these countries. With nearly 10 years' experience of investing in emerging markets, Blackfriars has the expertise required to invest successfully in these exciting but complex countries."

Blackfriars Asset Management is a specialist dedicated to the management of emerging market equity and debt as well as global fixed income assets. Blackfriars Asset Management's investment professionals manage US$2.4 billion for a range of mandates and clients based around the world. Additional information about Blackfriars Asset Management is available at www.blackfriarsam.com.

BNY Mellon Asset Management is the umbrella organisation for The Bank of New York Mellon Corporation's affiliated investment management firms and global distribution companies.

The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 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, clearing services and treasury services through a worldwide client-focused team. It has $19.5 trillion in assets under custody and administration, $881 billion in assets under management, services more than $11 trillion in outstanding debt and processes global payments averaging $1.8 trillion per day. Additional information is available at www.bnymellon.com.

All information source: BNY Mellon Asset Management International Limited as at 30/04/09. This press release is qualified for issuance in the UK only and is for information purposes only. It does not constitute an offer or solicitation of securities or investment services or an endorsement thereof in any jurisdiction or in any circumstance in which such offer or solicitation is unlawful or not authorised. Not available or offered to U.S. investors. This press release is issued by BNY Mellon Asset Management International Limited to members of the financial press and media and the information contained herein should not be construed as investment advice. Registered office: The Bank of New York Mellon Centre, 160 Queen Victoria Street, London, EC4V 4LA. Registered in England no. 1118580. Authorised and regulated by the Financial Services Authority
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