BNY Investments has launched a bond fund aiming for total return through income and capital growth by investing primarily in global investment-grade government and credit debt.
The offering, the BNY Mellon Global Aggregate Bond Fund, is managed by Insight Investment, owned by investment manager BNY. It was launched with a client seed capital of approximately €137 million.
Insight’s global aggregate bond strategy is managed on a team basis by the combined resources of its global credit, global rates and macro research teams. The fund will be led by Adam Whiteley, head of global credit and Harvey Bradley, senior portfolio manager, working with portfolio manager Nathaniel Hyde.
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Peter Bentley, co-head of fixed income at Insight, said: “The focus is on investment grade but with the flexibility to allocate to high yield and emerging markets. In constructing the portfolio, the team combines Insight’s top-down global macroeconomic analysis with bottom-up security selection, identifying opportunities offering attractive risk-adjusted returns in all market conditions.”
“This is an ideal moment for fixed income, with yields at levels last seen before the global financial crisis”, said Sasha Evers, head of Europe ex-UK at BNY Investments.
The fund is part of the Ireland-domiciled BNY Mellon Global Funds, plc range and is registered for sale in Austria, Belgium, Denmark, Finland, France, Italy, Germany, Luxembourg, Netherlands, Norway, Singapore, Spain, Sweden and the UK.
