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BNY Mellon launches sustainable bond fund

sustainable bond fundBNY Mellon Investment Management has launched the latest fund in its sustainable suite of products domiciled in the UK.

The BNY Mellon Sustainable Global Dynamic Bond Fund is managed by Newton Investment Management and aims to invest in sustainable sovereign bonds and “attractive companies with sustainable business practices and no material unresolvable ESG issues”.

Previous fund launches in the range have included a global equity and sterling bond fund.

Paul Brain, Trevor Holder, Carl Shepherd, Scott Freedman and Martin Chambers are the fund managers and will measure performance against one-month Libor+ 2% per annum over five years before fees. In doing so, it seeks to achieve a positive return on a rolling three-year basis.

The fund is a sustainable version of Newton’s existing Global Dynamic Bond strategy and is the sterling version of the euro-denominated BNY Mellon Sustainable Global Dynamic Bond Fund domiciled in Dublin.

Paul Brain, head of fixed income at Newton Investment Management – which is owned by BNY Mellon – said: “Sustainability has been on the rise in the fixed income space over the past five years. We believe sustainable bonds can provide investors with the opportunity to direct their fixed-income investments towards a range of positive impacts.”

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