The BNY Mellon Global Equity Higher Income Fund is Ucits III structured and is a sub-fund of BNY Mellon Global Funds.
It will be managed by James Harries who currently manages the £1.2bn Global Higher Income Fund and aims to generate increasing annual distributions and capital growth through investment in equity and equity related securities of companies worldwide.
An income share in Harries’ current fund has returned 13.5% over the past year and just of 10% over the past three years, according to data from Trustnet.
“This new fund is based on the successful UK domiciled strategy, the Newton Global Higher Income Fund,” said Paul Feeney, head of international distribution at BNY Mellon Asset Management.
“With authorities around the world seeking to repair defective credit markets and to support economies in the aftermath of the global credit crisis, the rates of income payable on most asset classes have changed significantly. We believe that Newton’s expertise in managing yield-based investments will be attractive to international investors.”
