Conclusion
Morningstar rates the two funds equally, awarding both products three stars based on historical returns and a forward-looking analyst rating of bronze.
However, FE Fundinfo, which bases its assessment on a fund’s three-year history of delivering alpha, minimising relative volatility and producing consistent returns, awards the BNY Mellon fund four crowns and two crowns to the ASI fund.
Poole is particularly impressed with the “clarity of purpose and objective” shown by the managers of the BNY Mellon fund.
“It is clearly a growth fund with a quality overlay, and therefore should be a core part of the growth component of an international equity portfolio,” he said.
In contrast, the ASI fund’s style is ambivalent, which creates doubts about the singularity of its intent.
“The product is not explicitly a growth fund, but it has tilted towards that style and away from its original value-oriented mandate in recent years,” said Poole.
As a result, the Oreana Financial Services CIO has little hesitation in preferring the BNY Mellon Long Term Global Equity Fund.
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