The BNY Mellon Global Income fund attempts to generate increasing income and capital growth over the long term, from investing in global equities. As it sits within the IA Global Equity Income sector, it must provide a yield in excess of 110% of the MSCI World index, a requirement it has achieved since launch in 2005. The investment process attempts to identify stocks by using a thematic framework, and seeks companies that are likely to benefit from a thematic tailwind. Although not an exhaustive list, themes will include economic, demographic political and technological.
We like the ability of the fund to diverge from the benchmark, given its unconstrained and high conviction mandate. This means the manager does not have to hold a region, country or sector if he believes it to be unattractive.