BNY Mellon Investment Management has partnered with Pinnacle Investment Management to launch a global infrastructure yield fund, the Pinnacle BNY Mellon Global Infrastructure Yield Fund.
The fund, which would be domiciled in Australia, would seek to achieve a gross yield of six per cent per annum by investing across a universe of global infrastructure securities including telecommunications, hospitals and senior care homes, the firm said.
Furthermore, the fund would aim to hold approximately 20 to 40 securities and would apply the same approach as the existing offshore portfolios managed by BNY Mellon Asset Management North America with James Lydotes as lead portfolio manager, Brock Campbell as portfolio manager, and William Adams as global investment strategist.
According to Lydotes, a key differentiator of the fund would be its broader look at the infrastructure universe which would enable the team to invest “against the herd” and find attractive opportunities across different sectors and regions.
“Australians have a strong affinity to investing in infrastructure assets, they understand the yield characteristics and the low correlation to traditional asset classes,” he said.
“We are excited to bring our proven investment strategy to Australian advisers and their clients.”
Pinnacle Fund Services, which is fully owned by Pinnacle, would be acting as the responsible entity of the fund and it has also been appointed by BNY Mellon IM as the investment manager of the fund.
The sub-investment manager is one of BNY Mellon’s leading investment managers, BNY Mellon Asset Management North America Corporation.
