Fund Management

BNY Mellon Launches US Opportunistic Equity Fund

Stephen Little, Reporter, London, 18 June 2014

articleimage

BNY Mellon Investment Management has launched a new opportunities fund that invests primarily in US equities and seeks to generate a return target of between 300 to 500 basis points over the S&P 500 Index.

BNY Mellon Investment Management has launched a new opportunities fund that invests primarily in US equities and seeks to generate a return target of between 300 to 500 basis points over the S&P 500 Index.

The Dublin-domiciled BNY Mellon US Opportunities Fund is a new US all cap equities fund run by equity investment boutique The Boston Company Asset Management, a subsidiary of BNY Mellon.

The fund invests in small, mid and large cap US stocks and is managed by David Daglio. It aims to drive alpha from both bottom-up selection and top-down approaches, holding between 40-60 stocks at any time, BNY said in a statement.

“With a 32 per cent return from the S&P 500 Index, returns from the US equity market were strong in 2013; in fact it constituted one of the strongest annual advances in 17 years. Last year proved the US could expand despite reduced stimulus while keeping inflation in check, and we believe that although the hurdle rate will be higher this year, there is more confidence in US economic growth,” said Daglio.

Register for WealthBriefing today

Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes