The new fund will be a sub-fund of the UK domiciled BNY Mellon Investment Funds range.
It will be managed by Newton, London-based global asset management subsidiary of BNY Mellon.
Newton’s team leader of Asia-Pacific (ex Japan) equities Jason Pidcock and investment manager on the emerging markets team Sophia Whitbread will be responsible for the day-to-day running of the fund.
The new fund aims to offer income, payable quarterly, together with long-term capital growth by investing in emerging market equities.
BNY Mellon said that the investment team will focus on selecting a concentrated portfolio of about 40-50 stocks that could benefit from economic growth in emerging markets.
Whitbread said, "The proposed emerging income fund will be highly focussed on a compelling total return opportunity: globally, emerging markets have seen the strongest economic growth in the last decade, with a significant contribution of dividends to total returns."
