BNY Mellon takes product retail
Global institution BNY Mellon Asset Management has moved to take its Global Alpha Trust into the retail market and has received its first retail rating from Zenith.
The move to take the product into the retail space was confirmed by BNY Mellon Asset Management Australian managing director Bruce Murphy (pictured).
The trust targets outperformance of the RBA cash rate by approximately 15 per cent a year over the medium to long term.
BNY Mellon Asset Management has traditionally played to the institutional market in Australia.
AUTHOR
Mike Taylor
Recommended for you
AZ NGA has entered into a strategic partnership with national advice firm MiQ Private Wealth, as a way to provide a succession solution, as well as career development opportunities for staff.
While the advice profession struggles under growing operating costs, Adviser Ratings has found more than half of practices – some 58 per cent – that generate less than $250,000 in revenue report no profit at all.
The Federal Court has ordered the freezing of assets and the appointment of receivers to two entities linked to Australian Fiduciaries, ASIC’s latest move in an ongoing investigation into the company’s managed investment schemes.
Off the back of the August adviser exam results, the profession has seen 17 new entrants hit the Financial Adviser Register (FAR) this week, helping numbers return to positive territory.
