BNY Mellon Unveils Global Multi-Strategy UCITS Fund

Stephen Little

1 July 2014

has launched a new global multi-strategy Irish-domiciled UCITS absolute return fund based on the Absolute Insight range.

The BNY Mellon Absolute Insight Fund is run by Insight Investment and invests across a range of absolute return strategies managed by Insight’s specialist equity, fixed income and multi-asset teams, headed by Sonja Uy, BNY Mellon said in a statement.

The fund, which aims to achieve positive returns on a rolling 12-month basis, launches with €90 million of client seed money from six countries across Europe.

It will aim to mirror the holdings of the existing UK-domiciled (non-UCITS) Absolute Insight Fund as close as possible, thereby offering the existing capability within a UCITS wrapper. The track record of the existing Absolute Insight capability goes back to 2005.

It will be offered with retail and institutional share classes denominated in euro, US dollar, sterling and Swiss francs.

“There is a clear and present demand for absolute return products particularly as they give investment managers even greater flexibility to deliver positive returns. Many managers claim to offer absolute return, but in reality few really deliver positive returns on a rolling 12-month basis. Given the proven success of Insight’s absolute return capability and the breadth and depth of its expertise, Insight was ideally placed to work with us in developing the new fund,” Matt Oomen, head of EMEA intermediary distribution at BNY Mellon, said.