BNY Mellon Investment Management has unveiled a new absolute return multi-strategy fund, which will be sub-advised by Insight Investment, a BNY Mellon investment boutique with $605bn in under management globally.
Dubbed as BNY Mellon Absolute Insight Multi-Strategy Fund, the new vehicle will incorporate the institutional-quality investment and governance processes that apply to all of Insight’s absolute return range.
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The fund aims to generate positive returns over rolling 12-month periods with volatility similar to conservative fixed income assets and low correlation to both stocks and bonds.
It will invest across a wide range of six absolute return investment strategies including equities, fixed income, currency and other asset classes, to mitigate the risk of capital loss from market downturns.
The multi-strategy fund will be managed by Sonja Uys, who is also a member of Insight’s Absolute Return Investment Committee alongside specialist portfolio managers responsible for the underlying portfolios.
Available with a minimum initial investment of $1,000 in Class A, C and I shares, the new strategy will be advised by The Dreyfus Corporation, a BNY Mellon Company, and distributed by MBSC Securities (MBSC), a wholly-owned subsidiary of Dreyfus.
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By GlobalDataThe fund will also be offered as institutional Y shares with a minimum investment of $1,000,000 with no minimum subsequent investment.
Uys said: "Our Fund can invest across a range of absolute return investment strategies in order to achieve a high degree of built-in diversification. Investors might consider it as part of a low-volatility alternatives allocation, or as an alternative to a fixed income allocation."
Insight head of liquid alternatives Svein Floden said: "The BNY Mellon Absolute Insight Multi-Strategy Fund combines Insight’s disciplined institutional approach to absolute return investing with the 10-year track record from one of our flagship strategies. We believe this differentiates this mutual fund proposition in the growing liquid alternatives market."
BNY Mellon Investment Management executive vice president and head of intermediary sales Joseph Moran said: "The launch of the BNY Mellon Absolute Insight Multi-Strategy Fund means that U.S. investors will have access to Insight’s deep experience in providing absolute return investment strategies to investors within a cost-efficient, single-manager structure."
