BNY Mellon Asset Management announces the launch of an innovative new Fund – the BNY Mellon Vietnam, India and China (VIC) Fund. Launched on 16
June, the Fund forms part of the Dublin-domiciled BNY Mellon Global Funds, plc, (BNY MGF) range and will be managed by Hamon Asset Management Ltd (Hamon) a Hong Kong-based Asian equity investment specialist which is part of BNY Mellon Asset Management.
The BNY Mellon VIC Fund is a focused portfolio of 45-55 stocks seeking long-term capital appreciation through investment in the vibrant emerging markets of Asia, with emphasis on Vietnam, China and India.
Benchmarked against the MSCI Emerging Asia Index, the Fund adopts an unconstrained strategy, which provides the fund manager the flexibility to pursue diverse investment opportunities in companies of various sizes and sectors.
Extraordinary economic growth has been driven by the rapidly expanding, younger working populations, increasing power consumption and infrastructure spending, coupled with the rising penetration of
consumer credit, the rapid trend of urbanisation, and a high global demand for goods. With some of the highest estimated compound annual growth rates, yet some of the lowest per capita gross domestic product figures, these countries display both historic growth and strong potential.
The investment strategy of BNY Mellon VIC Fund is based on Hamons fundamental, bottom-up approach to security selection and is managed and researched by highly experienced, local investment professionals.
A framework of advanced risk parameters will prevent concentration of themes and aggressively high weightings in any single security.
Nearly half the worlds population is in this region, and more importantly will be home to the largest concentration of consumers
in the future. High economic growth and high earnings growth are creating abundant opportunities for investment in the rapidly developing economic powerhouses of Vietnam, India and China. Moreover, the current valuations of some companies are compelling at present following the correction we have experienced. This Fund is looking to actively participate in the long-term economic development of the emerging Asian region, says Hugh Simon, CEO, Hamon.
Developing Asia is one of the fastest growing economic regions in the world; managing funds in this area necessitates a specialist approach and in depth experience of the investment cultures of these countries. With nearly 20 years experience of investing in emerging Asia, Hamon has the expertise required to invest successfully in this exciting but complex region, says Alan Mearns, CEO, BNY Mellon Asset Management International.