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.
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