BNY Mellon Asset Management has launched the BNY Mellon Enhanced Coefficient Select Fund, a global macro hedge fund, aimed at institutional investors.

The fund takes long and short positions across developed equity markets, sovereign fixed income, high yield and developed and emerging currencies, employing a variety of models with both shorter- and longer-term holding periods.

The fund is managed by Coefficient Global, a division of Standish Mellon Asset Management. Standish Mellon is one of BNY Mellon's asset managers focused on fixed income and absolute return strategies.

“Even though we focus mainly on liquid assets and markets, our systematic process can identify mispricings, based on other investors' biases, that enable us to structure profitable investment strategies for the fund,” said Lex Huberts, chief investment officer of Coefficient Global.

Standish Mellon was founded in 1933 and managed some US$170 billion in assets at the end of last year.