BNY Mellon launches concentrated global equity fund

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BNY Mellon Investment Management is launching a concentrated, large-cap fund.

The BNY Mellon Global Leaders fund will hold 25 to 30 companies that have dominant business models, growth potential and strong cash flow generation.

It will be managed by wholly-owned subsidiary Walter Scott & Partners, an Edinburgh-based firm with $61bn under management.

It does not have a lead manager instead having a team-based approach.

Matt Oomen, head of international distribution at BNY Mellon Investment Management, says: In an environment which is likely to become more challenging, Walter Scott believes markets will become more discerning and quality will be rewarded.”

The fund requires a minimum investment of £5,000, €5,000 or $5,000 depending on the share class.

The fund charges 2 per cent for the minimum investment and 1.5 per cent if investors’ initial investment is double the minimum or more.

Wholesale investors face a 1 per cent charge if they meet the minimum investment of £5m, €5m or $5m.