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BNY Mellon Asian Income Inclusive - Income (GBP)

Sell:188.13p Buy:188.13p Change: 0.61p (0.32%)
Prices as at 14 August 2020
Sell:188.13p
Buy:188.13p
Change: 0.61p (0.32%)
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Prices as at 14 August 2020
Sell:188.13p
Buy:188.13p
Change: 0.61p (0.32%)
Prices as at 14 August 2020
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Our view on this Fund

This fund does not feature on the Wealth Shortlist of funds our analysts believe have the potential to outperform their peers over the long term. This is not a recommendation to sell; however, if you are thinking of adding to your investments, we believe the Wealth Shortlist is a good place to start. View funds on the Wealth Shortlist »

This fund combines exposure to the long-term growth potential of Asian markets, with the attraction of a regular income. Zoe Kan was appointed lead manager of the fund in June 2016 and has been involved in its management since launch in 2005. She also has the support of Newton's Emerging and Asian equity team, as well as the group's large bank of analysts.

While Newton has demonstrated a commitment to long-term investing in the Asian region, the fund does not currently feature on the Wealth 50. Jason Pidcock, previously a long-standing and experienced member of the team, left the group in 2015, which we felt was a loss for the remaining team. We would prefer to see how Zoe Kan and the team fare for a period of time before reconsidering its position.

Our view on the sector

Investors have traditionally focused on companies in the Asia Pacific region for their growth prospects, not the income they pay. But there's an increasing demand for income, and more and more companies are starting to pay out a portion of their profits as dividends. Dividends suggest commitment and discipline on the part of companies. Paying a dividend means they're less likely to waste cash on unprofitable takeovers and expansion plans that could put the business at risk. We think Asian income funds could diversify a portfolio designed to deliver income over the long term. But they're higher-risk so a long-term approach is essential.

Performance Analysis

From June 2015 and before Zoe Kan's appointment as lead manager, the fund was run by Newton's Emerging and Asian equity team under the leadership of Rob Marshall-Lee and with Zoe Kan's involvement. Over this time, Asian markets have been volatilie and against this backdrop the team's cautious outlook and defensive positioning within the portfolio proved beneficial.

Our analysis suggests the fund's quality bias means it has tended to hold up relatively well in a falling market, although it has tended to lag a rising market.

Investment Philosophy

Dividends encourage disciplined capital allocation and the generation of cash flow. The managers aim to identify long-term themes they expect to shape the investment landscape, and then select the stocks that provide exposure to these areas of the market.

Process and Portfolio Construction

The fund utilises Newton's global thematic approach to identify forces of change and long-term themes. The team work with Newton's global research analysts to understand sectors and themes, while also focusing on their own views to select stocks for the portfolio. Investing in high-yielding companies is important, although the managers also focus on companies they believe have the potential for both income and capital growth over the long term.

The fund targets a yield at a 25% premium to the fund's benchmark, the FTSE Asia Pacific ex Japan Index. Positions will be sold if the yield falls to a 40% discount below the yield of the index.

question mark Manager Track Record Based on HL Quantitative Research

  • BNY Mellon Asian Income GBP Inc
  • FTSE AW Asia Pacific ex Japan TR...
FROM: TO:


Fund Track Record

13/08/15 to 13/08/16 13/08/16 to 13/08/17 13/08/17 to 13/08/18 13/08/18 to 13/08/19 13/08/19 to 13/08/20
Annual return 30.06% 7.11% 3.51% 9.59% -10.51%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

Fund Management Group Comment

Newton is the London-based global investment management subsidiary of The Bank of New York Mellon Corporation. As a leading fund management company, Newton has full investment autonomy and is wholly focused on investment management. Its investment approach is directed by identifying global themes to help them establish the risks and opportunities in the market. These themes represent Newton's convictions about the likely forces of change in the world, based upon observable and structural trends rather than speculative or short-lived ideas. This thematic framework is applied across Newton's range of funds.

Information about the fund

Fund manager biography

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Manager Name: Robert Marshall - Lee
Manager start date: 7 June 2016
Manager located in: TBC

TBC

manager photo
Manager Name: Caroline Keen
Manager start date: 7 June 2016
Manager located in: TBC

TBC

manager photo
Manager Name: Zoe Kan
Manager start date: 7 June 2016
Manager located in: TBC

Zoe is a portfolio manager on the Emerging and Asian Equity team. She is lead manager of the Newton Asian Income Fund, and alternate manager on the Newton Emerging Income Fund. Zoe joined Newton in 2000 and holds a degree in German and economics.She is a CFA1 charterholder. 16 years at Newton 16 years' investment experience

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Benchmark data provided subject to this disclaimer.
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account