BNY Mellon Investment Management has brought an additional US equity fund to the UK.
This is the second fund the business has introduced to the UK from its San Francisco boutique Mellon Capital in the last few months. In September, BNY Mellon brought over a US high-yield fund.
The BNY Mellon Dynamic US Equity fund hopes to outperform the S&P 500 by 2%-4% a year, gross of fees and will charge an annual management fee of 0.4%.
The strategy has been run since 1989. Over the last 28 years the strategy has outperformed the S&P 500 by 3.3% gross of fees a year, the business said, and outperformed in 21 of the last 27 calendar years.
‘The BNY Mellon Dynamic US Equity fund is a compelling proposition that we believe will help European clients solve two problems,’ Matt Oomen (pictured), BNY Mellon’s head of global distribution, told Wealth Manager.
‘Investors will have an alternative to passive in US large cap, one of the most efficient markets in the world. Many investors have been disappointed with active US large cap and are moving their US large cap assets to passive.'