The fund will be managed by Mellon Capital Management Corporation, an investment boutique of BNY Mellon IM
BNY Mellon Investment Management has launched the BNY Mellon Dynamic US Equity Fund, for UK and European intermediary and institutional clients.
The BNY Mellon Dynamic US Equity Fund will be managed by Mellon Capital Management Corporation, aka Mellon Cap, an investment boutique of BNY Mellon IM, the firm said in a statement.
The fund employs a non-traditional, relative value approach that aims to outperform the S&P 500 by 2-4 per cent (gross of fees) on an annualised basis, BNY Mellon said.
Mellon Cap has managed the Dynamic US Equity strategy since 1989 in the US.
“The BNY Mellon Dynamic US Equity Fund is a compelling
proposition that we believe will help European clients solve two
problems," said Matt Oomen, BNY Mellon IM’s head of global
distribution. "Investors will have an alternative to passive
in US Large Cap, one of the most efficient markets in the
world. Many investors have been disappointed with active
US Large Cap and are moving their US Large Cap assets
to passive. This fund can give them exposure to US Large Cap
and has the potential to generate excess returns."
Oomen added: “Mellon Capital’s strategy has also historically allowed investors to generate 3 per cent above public US equities without the onerous fees. As many investors move a large proportion of their equity assets to passive this means their remaining assets need to work harder. This new fund aims to give investors the returns they need without the high fees.”