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BNY Mellon IM in HK fund push

In total, the firm registered six funds with the Securities and Futures Commission (SFC) this year.

BNY Mellon Investment Management received approval from the SFC this month to launch five funds to the retail public, according to SFC records.

They are: the BNY Mellon Global Emerging Markets Fund, the Global Equity Income Fund, the Global Leaders Fund, the Long-Term Global Equity Fund and the US Equity Income Fund.

The new registrations follow the firm’s launch of the Mobility Innovation Fund to retail and accredited investors in Singapore and to private banks in Hong Kong earlier this month.

In October, the firm also registered the Emerging Markets Corporate Debt Fund with the SFC, according to SFC records.

In total, the firm had six funds approved by the SFC this year. Before that, the last time the firm registered a fund for retail sale was in 2008.

BNY Mellon IM in total has 15 funds registered for retail sale with the SFC.

FSA sought more information about the newly-registered funds, but the firm was not able to reply in time for publication.

The newly-registered funds have been made available to Singapore’s accredited and retail investors, according to FE data. In Singapore, the firm has 46 MAS-registered funds for accredited investors and 18 for retail investors.

Although some products are made available to professional investors in Hong Kong without being authorised by the SFC, some banks are only willing to sell SFC-authorised retail funds to professional investors, Rolfe Hayden, a partner at law firm Simmons & Simmons, told FSA recently.

Other US firms have also aggressively targeted the Hong Kong retail base by getting funds approved by the SFC, which include Goldman Sachs Asset Management, T Rowe Price, Alliance Bernstein and Capital Group.

 

Part of the Bonhill Group.