BNY Mellon Investment Management has launched a sustainable global equity fund to be managed by subsidiary Newton Investment Management.
Part of the firm’s BNY Investment Funds UK-domiciled range, this latest addition will be actively-managed in accordance with Newton’s sustainability criteria.
According to BNY Mellon, the fund will typically hold fewer than 70 stocks and will invest in international firms with sustainable business practices and which have no unresolvable environmental, social and governance (ESG) issues.
It may, however, include companies with low ESG scores if there is the prospect that they can be improved through engagement.
The BNY Mellon Sustainable Global Equity Income Fund will be managed by Nick Clay, leader of Newton’s equity income, as well as Rob Stewart, head of responsible and charity investment.
Newton Investment Management’s fifth sustainable fund to be launched for UK investors.
“The return of volatility in markets is creating opportunities for actively managed income strategies, and it is our belief that increased volatility is here to stay through the latter part of the investment cycle,” Clay said.
As of June 30, Newton Investment Management managed £3.1 billion (€3.44 billion) of assets.
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