BNY Mellon Asset Management (BNYMAM) is launching a Dublin-domiciled global emerging market equity fund.
The fund will be managed by Blackfriars Asset Management, one of 17 investment boutiques within BNYMAM’s multi-boutique structure and a specialist in emerging markets and fixed income.
The BNY Mellon Emerging Markets Equity Fund will seek to exploit opportunities created by “the unprecedented market volatility brought on by the credit crunch”, according to Hugh Hunter, chief executive of Blackfriars Asset Management.
Blackfriars head of emerging markets equities, Tony Hann, will head up the fund’s management team, which will also include global portfolio managers Bill Rudman and Richard Fairgrieve.
Challenging markets
Hann said 2009 will be a “challenging” one for emerging market economies, but he added that there were "still interesting investments to be made”.
Inefficiencies currently exist “across emerging market countries”, according to Hunter, who said the new fund will look to exploit these “by capturing the return differentials which arise from countries at different stages of their economic development and political cycles”.
“Our view is that the story for emerging markets is largely in place and we believe long-term investors should remain invested. For those investors who are considering whether to increase their exposures, the asset class may well present a very attractive buying opportunity,” he added.
Further information about Blackfriars, which looks after assets of about $2.4bn, is at www.blackfriarsam.com.
Its parent, the Bank of New York Mellon, is a New York-based, New York Stock Exchange-listed global financial services group, created in 2007 with the merger of the Bank of New York and Mellon Financial Corporation of Pittsburgh. It has about $19.5trn in assets under custody and administration, and its website is www.bnymellon.com.
