Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

BNY Mellon shuts Global Alpha and Latin America funds

BNY Mellon shuts Global Alpha and Latin America funds

BNY Mellon has closed two funds after their assets dwindled.

The BNY Mellon Evolution Global Alpha fund launched in 2006 as a multi-asset absolute return strategy. Over the past three years it has lost 0.73% on an annualised basis, and contained less than £6 million at its closure.

The BNY Mellon Latin America Infrastructure fund launched in 2010, and invested in the shares of firms involved with the continent’s infrastructure rather than in physical assets.

Managed by Bruno Garcia, over the past three years it has lost an annualised 10.9% compared with an equivalent decline of 9.5% from its MSCI EM Latin America 10/40 index. The fund held around £1 million when it closed.

‘We constantly review the structure and position of the sub-funds in BNY Mellon Global Funds,’ said a spokesperson for the group.

‘As part of this process we have concluded that the small size of the sub-fund may be preventing it from achieving the economies of scale in ongoing operating costs that would best serve the interests of investors in the sub-fund.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Hugh Yarrow: Why the equity income sector needs fixing

Hugh Yarrow: Why the equity income sector needs fixing

Hugh Yarrow's Evenlode Income fund was recently removed from the Investment Association's UK Equity Income sector.

Play GAM charity football tournament: the live draw

GAM charity football tournament: the live draw

Former Chelsea and England footballer Graeme Le Saux visits Citywire to make the draw for the tournament, where all proceeds going to Wheels for Wellbeing.

Play FIFA, Panama Papers…and what everyone’s getting wrong

FIFA, Panama Papers…and what everyone’s getting wrong

VIDEO: Investigative reporter Jeffrey Robinson reveals how major corruption scandals are being mishandled and what to expect next.

Your Business: Cover Star Club

Profile: JPM Wealth MD on breaking the glass ceiling

Profile: JPM Wealth MD on breaking the glass ceiling

During her tenure at JP Morgan, the private bank has changed the way it segments clients in a bid to improve focus

Wealth Manager on Twitter