BNY Mellon Investment Management (IM) has launched BNY Mellon Global Multi-Asset Income fund, a Dublin-domiciled fund targeted at intermediary and institutional investors. It will be managed by Newton Investment Management (IM), a global thematic investment firm with €56.6bn in assets under management, wholly owned by BNY Mellon IM.
The fund will be the euro-denominated version of the successful UK-domiciled Newton Multi-Asset Income fund, and will aim to generate a sustainable income with the potential for capital growth over the longer term by investing in a diversified multi-asset portfolio. As at 30 June 2018 the UK-domiciled fund generated a 9.68% annualised return over a three-year period and currently yields 3.82%.
It will be managed by Paul Flood and will harness Newton IM’s long and established heritage in global multi-asset and income investing. Newton IM has been a pioneer of multi-asset investing since 1978 and has been managing income-focused strategies for over two decades.
It will target a yield that is 30% greater than the income reference of 60% equities and 40% bonds, which will be paid quarterly.
The fund is available to investors in Austria, Belgium, Denmark, Germany, Finland, France, Guernsey, Ireland, Italy, Jersey, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the UK.