This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Bank Of New York Mellon's Stable Value Fund Now Accepting New Investors

NEW YORK, April 7, 2014 /PRNewswire/ -- The Bank of New York Mellon (the "Bank") is accepting new investors into the Mellon Stable Value Fund, a bank-sponsored collective investment fund for defined contribution benefit trusts*. 

The Fund stopped accepting new investors in January 2012 due to an industry wide shortage of investment contracts, which the Fund uses to help insulate investors from market volatility. Shortly thereafter, the Fund began accepting new investors with $1 million or less, and in December 2013 the Fund allowed new investors with $10 million or less, although some larger investments were accepted on a case-by-case basis.

Associates of the San Francisco-based stable value division of Standish Mellon Asset Management Company LLC (" Standish"), a fixed income manager for BNY Mellon, manage the Fund in their capacity as dual officers of The Bank of New York Mellon.  

"We are pleased to see the amount of new stable value investment capacity that has been added to our industry over the past two years," said Eric Baumhoff, chief investment officer of Standish's stable value division.  "The Bank of New York Mellon will continue to manage the Mellon Stable Value Fund in a prudent manner for plan participants, matching new investment demand with new product investment capacity."

The Fund's goals are to preserve capital and earn current income.  It invests primarily in book value wrap contracts that incorporate a broad selection of short- and medium-term fixed-income instruments, including U.S. government and agency bonds, corporate bonds, mortgages and asset-backed securities. The Fund also may hold insurance company issued Guaranteed Investment Contracts (GICs) or similar instruments as well as cash equivalents.

The Fund was launched in February 1993 and had assets of $1.049 billion on December 31, 2013.

Notes to Editors:

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs