The global asset management arm of Bank of New York (BNY) Mellon has launched two new investment boutiques, one focused on the management of domestic Australian equities and the other on emerging markets equities and global fixed income.

Ankura Capital is headquartered in Sydney and uses a quantitative investment approach combined with a qualitative risk management overlay to manage approximately AUS$1bn in Australian equities. The firm will continue to be run by Greg Vaughan, the managing director and chief investment officer.

Blackfriars Asset Management will be based in London. Led by Hugh Hunter it has US$2.3bn in assets under management, and has delivered a top quartile ten year track record.

Both firms will operate autonomously from BNY Mellon Asset Management, but will have access to its global distribution franchise.

Jon Little, vice charirman of BNY Mellon Asset Management, said: "Accelerating the already significant growth of our asset management business in Australia and the Asia Pacific region as a whole is a key strategic priority for us. In addition, many emerging markets economies are in a position of relative strength compared to their Western counterparts. We see increased investment opportunities in this area, and in our dialogues with clients globally many of them are looking at these types of strategies to drive the growth of their investment portfolios."