BNY Mellon unveils EMD fund for Insight’s McDonagh
BNY Mellon has launched an Emerging Markets Corporate Debt fund to tap into what it sees as the next major structural development in emerging market investing.
The fund consists of a portfolio of best ideas across both US Dollar and local currency-denominated emerging market debt, and will be managed by its Insight Investment subsidiary.
The offering, launched on 31 January, sits alongside BNY Mellon’s existing Emerging Markets Debt Local Currency fund. It is the second fund in the group’s range to be managed by Insight following the January 2011 launch of the BNY Mellon Absolute Return Equity fund.
Seeking to generate a total return via corporate debt and related derivatives from emerging market issuers across the globe, Insight’s credit team, led by Colm McDonagh (pictured), will run the fund.
“Emerging market corporates have always been part of our investment opportunity, however the asset class has gained significant depth over recent years,” said McDonagh.
“The structural shift currently underway in emerging consumer spending patterns creates an attractive investment opportunity, and we believe the structure and return profile of corporate bonds are the best part of the capital structure to capture this improvement.”