BNY Mellon Asset Management has boosted its European range with the launch of the Mellon Dynamic Europe Equity fund.
Managed by WestLB Mellon Asset Management (WMAM) and part of the Dublin-domiciled Global Funds operation, the new offering will utilise the best ideas across Mellon’s three existing ‘Compass’ funds – the Emerging Europe, Pan Europe and Small Cap.
The Dynamic Europe Equity fund will typically invest in 40 to 60 stocks, selected using ideas from the 16-strong investment team.
WMAM European equities head Piers Hillier says even though the region’s earnings growth has begun to slow, valuations remain “very attractive”.
“With 10-year yields under 4% in the US and at 4.6% in Europe, bond investors don’t fear inflation and in an environment of dented confidence, neither should interest rate policy makers,” he says.
“We are confident that our stock selection approach focusing on structurally resilient earnings and attractive valuations should provide attractive rewards in these conditions.”
The fund's UK class has a £5,000 minimum investment.
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