BNY Mellon Investment Management through its subsidiary Standish Mellon Asset Management has introduced a global fixed income fund in Australia.
The BNY Mellon Standish Global Bond Fund registered for sale in Australia was seeded earlier during the month with a capital of AUD$50 million (US$46.47 million) from an institutional investor, reported International Adviser.
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The bond fund available for Australian and NZ investors is designed for global bond markets such as sovereign bonds, investment grade and high yield corporate bonds, and emerging market debt.
BNY Mellon Investment Management’s Australian business head Bruce Murphy was quoted by the news agency as saying the introduction of a global bond fund is aimed at building the business momentum in Australia.
Serving Australian clients, Standish has grown its local assets under management to over AUD$1.7bn ($1.58bn), since its launch in 2005, and it only offered its fixed income management at the beginning.
Standish’s co-deputy chief investment officer and managing director of global fixed income Raman Srivastava said: "Our fund and related strategy will allow for a dynamic yet controlled approach to investing across the global bond landscape.
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By GlobalData"This is critical during a period when central banks are removing accommodation from the global financial system, resulting in the potential for higher global interest rates."
