BNY Mellon opens offshore funds to UK retail market


BNY Mellon Global Funds is adding a UK retail share class and UK distributor status to five of its specialist offshore sub-funds.

The move will make the range of portfolios accessible to professional advisers for the first time, The fund will also be available on major platforms including Cofunds, Transact and Ascentric. Listed in the IMA sectors earlier this year, the offshore funds will now be regulated by the same cross-EU fund legislation as UK-based UCITS funds. Alan Mearns, chief executive officer of BNY Asset Managment International, believes many overseas funds are unattractive to UK investors, as they were previously subject to higher fund charges and required different minimum investments than UK-do...

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