Launches & Closures

BNY launches absolute return fund


BNY Mellon Asset Management is launching its first UCITS hedge fund which will be managed by Insight Investment Management.

The BNY Mellon Absolute Return Equity Fund is the first fund in its range to be managed by Insight and will be a sub-fund of the Dublin-domiciled BNY Mellon Global Funds.

Abdallah Nauphal: Insight Investment

Launching on Monday 31 January 2011, the fund will be managed by Insight Investment’s specialist equity team, who have established a five year track record of generating positive returns in the Absolute Insight UK Equity Market Neutral strategy.

BNY Mellon bought Insight Investment from Lloyds Banking Group in 2009 for $392million (€276 million/£235million). Insight was originally part of HBoS which