BNY Mellon Investment Management Launches New Global Credit UCITS Fund

Mar 14 2016 | 11:55pm ET

BNY Mellon Investment Management has launched its inaugural UCITS-complaint global credit fund.

Named the BNY Mellon Global Credit fund, the new fund is domiciled in Dublin and will be managed by BNY subsidiary Insight Investment, according to Citywire Global. It will invest in global investment-grade issuers across various sectors and regions per a wide mandate to invest in high-yield, loans, asset-backed securities, emerging market debt, government bonds and currency.

The fund reportedly seeks to outperform the Barclays Global Aggregate Credit Index by 1.5% per annum gross of fees over rolling three-year periods. 

Managers on the fund will be Insight’s global credit head Peter Bentley and portfolio manager Adam Whiteley, who have run Insight’s Global Credit Strategy since 2011. The fund was previously available to only to UK investors.

The new fund will be registered for sale in the UK, Canada, Italy, Spain, France, Denmark, Germany and the Netherlands. Minimum investment will be $5,000 or the equivalent in sterling, euro, Swiss franc or Canadian dollar, with currency-hedged share classes also available.

BNY Mellon Investment Management is one of the world's leading investment management organizations and one of the top U.S. wealth managers, with $1.6 trillion in assets under management as of December 31, 2015. The firm’s Insight Investment unit managed $605 billion as of September 2015.

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