BNY Mellon launches new European 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 inves...