BNY Mellon has launched the US Opportunities fund, investing in small, mid and large-cap US stocks with the aim of beating the S&P 500 index by 300 to 500 basis points.
The Dublin-domiciled fund will be run by BNY Mellon subsidiary Boston Company Asset Management, a research-driven active equity investment boutique, and managed by David Daglio.
The fund aims to drive combine bottom-up selection and top-down approaches, holding 40-60 stocks at any time. It is based on the existing US All Cap Opportunistic Equity strategy, which has outperformed its comparative index since inception in January 2012
'Against a backdrop of improving economic growth and inflation stability in the US, we received requests for a US equity product which offers access to the world’s largest and most sophisticated equity market,' said Matt Oomen, head of EMEA intermediary distribution at BNY Mellon Investment Management.
'We believe that attractive investment opportunities exist in all areas of the US market, but disciplined and specialised asset class research is critical for consistent investment success,' added Daglio.
'In our view the most attractive investment opportunities are currently represented by companies priced at a discount to their intrinsic value whose strong longer-term fundamental prospects are not yet recognised in the market place'.