BNY Mellon Liquidity (IRSH) - Change of Investment Adviser
RNS Number : 4970R
BNY Mellon Liquidity Funds
19 November 2012
STOCK EXCHANGE ANNOUNCEMENT
19 November 2012
BNY Mellon Liquidity Funds plc
Re: Change of Investment Adviser
The Directors of the BNY Mellon Liquidity Funds plc (the "Company") wish to
announce that Insight Investment Management (Global) Limited (the "Investment
Adviser") has replaced The Dreyfus Corporation as investment adviser of the
BNY Mellon Sterling Liquidity Fund (the "Fund"), a sub-fund of the Company.
The Investment Adviser was incorporated in England on 19 November 1964 and is
regulated by the Financial Services Authority. The Investment Adviser has
assets under management of £187.2bn as at 30 September 2012 represented by the
value of cash securities, liability benchmarks and other economic exposure
managed for clients.
The change of investment adviser takes effect on 19 November 2012, pursuant to
the termination of the existing investment advisory agreement between the
Company's manager, BNY Mellon Global Management Limited (the "Manager"), and
The Dreyfus Corporation, so far as it relates to the Fund, and the execution
of a new investment advisory agreement between the Manager and the Investment
Adviser (the "Investment Advisory Agreement").
Pursuant to an Investment Advisory Agreement, the Investment Adviser will
manage and will recommend and provide general advice to the Manager in
connection with the investment and reinvestment of the assets of the Fund. The
fees of the Investment Adviser will be discharged by the Manager.
The Investment Advisory Agreement may be terminated by either party on giving
not less than six months prior written notice to the other party. The
Investment Advisory Agreement may also be terminated forthwith upon certain
breaches or upon the insolvency of a party (or upon the happening of a like
The Investment Advisory Agreement provides for the Manager to indemnify,
defend and hold harmless the Investment Adviser from and against all actions,
proceedings and claims and against all loss, costs, demands and expenses
(including legal expenses) which may be brought against, suffered or incurred
by the Investment Adviser by reason of the performance or non-performance of
its obligations under the terms of the Investment Advisory Agreement (other
than by reference to any negligence, fraud, or wilful default in the
performance or non-performance by the Investment Adviser, or persons
designated by it of its obligations or duties thereunder).
Insight Investment Management (Global) Limited Andrew Jones +44 20 763 4000
Davy Niamh Moran +353 1 614 8933
This announcement has been issued through the Companies Announcement Service
The Irish Stock Exchange.
This information is provided by RNS
The company news service from the London Stock Exchange
ISEGGGBAGUPPGQB -0- Nov/19/2012 17:00 GMT
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