BNY Mellon will provide custody, fund administration and trustee services for new Cayman-domiciled fund of hedge fund

TOKYO, 14 May 2009 — The Bank of New York Mellon, the global leader in asset management and securities servicing, has announced that its Alternative Investment Services (AIS) business has been selected by Sumitomo Mitsui Asset Management Company Limited (SMAM) as fund administrator for its new fund of hedge funds, the SMAM Alpha Dynasty Fund Trust (The Trust). BNY Mellon, directly or through its affiliates, also will provide custody and trustee services.

SMAM launched The Trust, domiciled in the Cayman Islands, on 27 March 2009 with its seed capital. Targeted at institutional investors, the investment objective of The Trust is to maximize long-term returns to unit-holders by investing in diversified portfolio of hedge funds, aiming at low correlation to traditional asset classes, with emphasis on liquidity.

"We selected The Bank of New York Mellon as our fund administrator because they have demonstrated the ability to deliver the services required for complex funds of hedge funds and can cost-effectively scale its systems to meet our growth," said Ken Shimasaki, Head of Alternative Investment Group, Sumitomo Mitsui Asset Management. "Our operational efficiency will be dramatically improved through The Bank of New York Mellon’s new fund of hedge funds platform and the technology interfaces that we have put in place."

"Working with a premier fund manager such as Sumitomo Mitsui Asset Management underlines The Bank of New York Mellon’s ability and commitment to servicing the fund of hedge funds arena in Japan," said Andrew Gordon, executive vice president, Head of Alternative Investment Services for Asia. "We are honoured that they chose our company to deliver the infrastructure they need to succeed. Our appointment confirms that the solutions we are providing to Japan's top institutions remain at the forefront of the market."

Sumitomo Mitsui Asset Management Company, Limited (SMAM) is one of the largest asset management companies in Japan with a total of US$110 billion in assets under management (as at 31 December 2008) for Japanese institutional and retail clients. SMAM was incorporated in December 2002 through the merger among Mitsui Life Global Asset Management, Mitsui Sumitomo Insurance Asset Management, Sakura Investment Management, Sumisei Global Investment Trust Management and Sumitomo Life Investment. SMAM is part of Sumitomo Mitsui Group, which is one of Japan's leading financial groups. With offices in Tokyo, New York, London, Hong Kong and Shanghai, SMAM manages traditional assets such as equities and bonds as well as alternative assets including hedge funds, through clearly-defined investment style/process, emphasis on independent research, team approach and company-level quality control.

The Bank of New York Mellon is a leading hedge fund administrator with more than $200 billion in assets under administration and, together with its affiliates, maintains an extensive global presence, including locations in Bermuda, Cayman Islands, Hong Kong, Ireland, Luxembourg, Singapore and the United Kingdom, as well as US offices in California, Florida, Massachusetts, New Jersey, New York, Pennsylvania and Texas. In addition to hedge fund administration the company offers a wide range of accounting, cash management, collateral management, custody, corporate trust, asset management and wealth management services to the hedge fund industry.

The Bank of New York Mellon has had a presence in Japan for almost four decades. The company provides a wide variety of products and services to Japanese institutional and retail investors including asset management, securities servicing and corporate trust.

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.