BNY Mellon Asset Management has launched the BNY Mellon absolute return fund, the first fund in its range to be managed by Insight Investment Management.
Ian Brown, Andrew Cawker, Richard Howarth and David Headland, all portfolio managers at Insight, will manage the new fund. Together, they will take long and short positions in the pan-European market by employing a pairs trade approach.
It will be a sub-fund of the Dublin-domiciled, Ucits III authorised, BNY Mellon global funds range.
The fund launched on January 31, 2011, with £30m under management. It has sterling-denominated, dollar-hedged and euro-hedged share classes. The minimum investment for retail investors is £5,000. The annual management charge is 1.5 per cent. The performance fee is 15 per cent.