The mandate covers a wide range of fixed income instruments including government, supranational, corporate and securitized assets.

Ronald O’Hanley, president and CEO of BNY Mellon Asset Management, said: “We continue to see new business in eastern Asia as institutional investors in the region increase their commitment to global fixed income. Our clients in Asia have been particularly interested in the strong risk-adjusted returns that Standish has achieved.”

Desmond MacIntyre, president and CEO of Standish, said: “We are seeing growing interest in global fixed income as institutions increasingly see its value as a diversifier and potential return enhancer relative to their domestic bond portfolios. Global bonds are a very good way to take advantage of differential growth rates around the world.

“Fast-growing economies are likely to offer opportunities to investors in both sovereign and corporate debt securities and Standish is ideally placed to identify and capture these opportunities for our clients.”

Boston, Massachusetts-based Standish Mellon Asset Management, with $63bn of assets under management, provides investment management services across a broad spectrum of fixed income asset classes. These include corporate credit (investment-grade and high-yield), emerging markets debt (dollar-denominated and local currency), core/core plus and opportunistic (US and global) strategies.