BNY Mellon Investment Management, one of the world’s largest asset managers with $1.8 trillion in assets under management, today announced the launch of BNY Mellon FutureLegacy, a new UK fund range consisting of five risk-rated sustainable multi-asset funds.
FutureLegacy will be sub advised by Newton Investment Management Ltd (Newton), a BNY Mellon Investment firm and leading specialist equity and multi-asset manager.
FutureLegacy draws on Newton’s more than four decades of experience in multi-asset investment. Each fund is actively managed and designed to deliver capital growth with the potential for income over the long term, while being managed to a pre-defined level of risk. The funds are directly invested in sustainable companies, using a dynamic asset allocation risk framework to address changing market conditions across asset classes. This will enable advisers to recommend an investment solution to align with their clients’ individual financial needs, risk appetites and expectations both leading up to and during retirement.
The newly formed FutureLegacy team is overseen by Mitesh Sheth, Chief Investment Officer of Multi-Asset at Newton, with Joo Hee Lee, Lale Akoner and Martin Chambers as joint portfolio managers. Lale recently joined Newton as a portfolio manager, having been at BNY Mellon Investment Management for over a decade as a senior investment strategist. She brings to the team the depth of global macroeconomic knowledge and cross-asset perspective the new solutions require. The investment team will leverage Newton’s asset allocators, sustainable stock pickers and risk managers to seek to deliver a best-of-Newton proposition to clients.
The fund range has been developed to help clients navigate the shift that is underway across global markets. After four decades of asymmetric monetary policy, structurally lower inflation, broad availability of credit and increasing globalisation, the backdrop for investors has shifted. The reversal of this benign market context, combined with an increased focus on environmental, social and governance (ESG) factors has resulted in changing demands from multi-asset managers and this is at the core of why FutureLegacy has been developed.
Commenting, Mitesh said:
“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, said:
“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.”
The fund range is registered for sale in the UK. More information on the fund range here.