BNY Mellon launches US municipal bond fund

US_congressBNY Mellon Investment Management has today launched a US municipal bond fund for intermediary and institutional investors in Europe. BNY Mellon claims that its Municipal Infrastructure Debt Fund will be one of the first funds of its kind available in a Ucits structure. The fund will be sub-advised by Standish Mellon Asset Management Company, a BNY Mellon institutional fixed income manager, whose US municipal bond experts have worked together for nearly two decades. Standish is the fifth largest manager of US municipal debt strategies in the world with over $27 billion (€25 billion) of municipal assets under management. Matt Oomen, head of international distribution at BNY Mellon IM, said: “US municipal infrastructure bonds have historically offered attractive yields, even at times of heightened volatility, while holding higher credit ratings and exhibiting lower default rates than US investment grade corporate bonds.” The BNY Mellon U.S. Municipal Infrastructure Debt Fund is registered for distribution in the UK, Germany, France, Italy, Spain, the Netherlands, Austria, Belgium, Denmark, Finland, Norway and Sweden. It will also be registered in Switzerland. ©2017 funds europe

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