BNY Mellon Investment Management has launched a new UK fund consisting of five risk-rated sustainable multi-asset funds.
Each fund within the newly formed FutureLegacy is designed to deliver capital growth with the potential for income over the long-term, the firm said.
The funds are directly invested in sustainable companies, enabling clients to “navigate the shift that is underway across global markets” following decades of asymmetric monetary policy, structurally lower inflation, broad availability of credit and increasing globalization, combined with an increased focus on environmental, social and governance factors.
FutureLegacy will use an asset allocation risk framework to address changing market conditions across asset classes, which will enable advisers to recommend an investment solution to align with their clients’ financial needs, risk appetites and expectations both leading up to and during retirement, BNY Mellon said.
It will be sub advised by Newton Investment Management, a BNY Mellon Investment firm and specialist equity and multi-asset manager. The team will be headed up by Mitesh Sheth, chief investment officer of multi-asset at Newton, with Joo Hee Lee, Lale Akoner and Martin Chambers as joint portfolio managers.
Mitesh Sheth, chief investment officer, Newton, says: “Against today’s market backdrop, investors require new solutions to meet their investment goals. Drawing on Newton’s multi-asset expertise and combining this with an investment strategy designed for the market environment, FutureLegacy will provide investors with a range of funds which aim to protect and grow their portfolios sustainably over the long-term. We will only be investing in companies around the world that are in line with Newton’s sustainable framework to ensure we are contributing towards the just energy transition.”
Michael Beveridge, Head of UK Intermediary Distribution, BNY Mellon Investment Management, added: “The need for highly flexible, dynamic and active multi-asset solutions, with ESG built in, is a significant priority for our clients. Newton’s long history of managing multi-asset funds through market cycles means they are ideally placed to help investors achieve their retirement goals, through actively invested diversified portfolios that also look to make a positive contribution to the planet and society.”
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