The Municipal Employees Retirement Systemof Michigan has entered an agreement with Mellon Capital Management. The BNY Mellon Asset Management unit has been appointed to run $350 million in Mellon Capital’s Tangent-Added strategy.
The asset allocation strategy tracks the Standard & Poor’s 500 Index. Mellon Capital currently manages around $29.9 billion in its asset allocation strategies, including assets managed as dual officers and overlays.
Click here for the release from PR Newswire.