PORTUGAL – Mellon Global Investments has set up a partnership with Banco de Investimento Global in order to distribute its products in Portugal.
Banco de Investimento Global (BIG) provides corporate, institutional and individual clients with a range of advisory and execution services through various distribution channels, and will now offer Mellon Global Funds range to its clients.
The range of funds includes global and regional equity funds, traditional bond funds, and stock and bond index tracker funds in multiple currencies and share classes.
Commenting on the opportunities available to foreign asset managers in Portugal, Sasha Evers, head of sales for Iberia at Mellon Global Investments said: “It is a market where there is less penetration by foreign firms, and therefore offers opportunities. As it is quite a small market dominated by domestic suppliers, there are possibilities to offer areas of products that are unavailable in the local market.”
This is Mellon Global Investment’s first distribution channel into Portugal, and it hopes to form others. “It is difficult for foreign fund managers to break into countries such as Spain and Portugal, and distribution partners allow asset managers to gain entry.” Mellon has already established distribution channels in Spain.
Mellon Global Investments is the international distribution subsidiary of Mellon Financial Corp which has 2.9 trillion dollars (2.45 trillion euros) in assets under management, administration and custody.