Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

BNY Mellon soft-closes two star absolute return funds

BNY Mellon soft-closes two star absolute return funds

BNY Mellon has confirmed that it is to restrict flows into its Absolute Insight Equity Market Neutral and BNY Mellon Absolute Return Equity funds.

The two funds are managed by Citywire AAA-rated Andy Cawker (pictured) of Insight, whose team currently manages £2.6 billion.

BNY Mellon stated: ‘The decision to limit inflows and control the capacity of the funds has been taken to protect existing investors’ interests. This proactive step aims to retain the investment team’s flexibility to meet the funds’ investment objectives and performance aims.’

The Citywire Selection Absolute Insight Equity Market Neutral fund has returned 14.1% over the past three years, compared with an average of 9.7% from its Citywire Alternative Ucits Market Neutral category. It also boasts the best Sharpe ratio and drawdown numbers among its peer group.

BNY Mellon Absolute Return Equity has returned 15.6% through the same time period, against an average of 28.3% from its Alternative Ucits Long/Short Equity sector.

‘Insight has long been committed to providing absolute return strategies with the rigour and discipline of institutional investment processes and governance,’ commented Abdallah Nauphal, chief executive of Insight Investment.

‘Our ability to deliver on performance objectives has always been and will remain our primary concern. With that in mind, we are constantly evaluating the Absolute Insight range and will continue to evolve compelling investment solutions.’

Matt Oomen, head of intermediary distribution for Europe, the Middle East and Africa at BNY Mellon, added: ‘We will always base our decision-making process around managing products with the interests of our existing investors at the forefront.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Foster: the world’s most unconventional monetary policies

Brewin's Foster: the world’s most unconventional monetary policies

In this week's podcast, Guy Foster asks why the world’s biggest economies are pursuing some of the world’s most unconventional monetary policies. 

Play Charles Tan on Woodford & hidden trust income gems

Charles Tan on Woodford & hidden trust income gems

Cantor Fitzgerald investment company analyst Charles Tan discusses Woodford Patient Capital and some of the income trusts slipping under the radar.  

Play Taxicab Tenner: SGPB Hambros CIO Eric Verleyen

Taxicab Tenner: SGPB Hambros CIO Eric Verleyen

In the second episode of our new series, Verleyen jumps on board a black cab and explains how hard it's become to find good valuation on the market.  

Wealth Manager on Twitter