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BNY Mellon Closes Ankura Capital

Bank of New York Mellon Corp.’s unit BNY Mellon Asset Management has closed its Australian and Japanese equities boutique Ankura Capital.

Bank of New York Mellon Corp.’s unit BNY Mellon Asset Management has closed its Australian and Japanese equities boutique Ankura Capital, I&T News reports. The long-only equity strategies boutique manager had to be closed for lack of institutional support. Ankura will be returning $1 billion in funds to its clients.

Greg Vaughan and Jason Davis launched Ankura in 1995 and became a part of BNY Mellon in 2008. In the five years ended September, Ankura’s strategy returned 0.2 per cent while in the 12 months to September it yielded -7.5 per cent.

Click here for the story from I&T News.

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