Mellon Capital Management is stepping up marketing of its global tactical asset allocation products in Europe in response to increased demand as equities fail to generate consistent returns.

Charlie Jacklin, president of Mellon Capital, said: "We have a strong track record and we are continually researching ways to improve our process further." Mellon's European competitors include Goldman Sachs Asset Management and First Quadrant. Mark White, marketing director at JP Morgan Fleming Asset Management said: "It is an area into which we are moving."