The Portable Alpha strategies combine an attractive alpha source
with alternative beta exposures.  The alpha source is Mellon Capital's Global Alpha strategy, which strives to systematically identify relative mispricings across capital markets in developed countries around the globe. The model is designed to optimally integrate four diverse alpha sources: equity versus bond market signals, cross-country equity market signals, cross-country bond market signals, and currency signals.  Integrated risk management seeks to reinforce portfolio diversification and strives to keep overall risk within target levels.