Dreyfus Corporation, part of BNY Mellon Asset Management, has launched Dreyfus Global Real Return Fund, a world allocation fund with an emphasis on global absolute return managed by Newton Capital Management, a BNY Mellon Asset Management boutique, which specializes in global and regional equities and bonds, as well as multi-asset and absolute return funds.
The investment adviser for Dreyfus Global Real Return Fund is Dreyfus; the fund’s sub-adviser is Newton Capital Management. Both Dreyfus and Newton are part of BNY Mellon Asset Management.
Dreyfus Global Real Return seeks total return, consisting of capital appreciation and income. To pursue its goal, the fund uses a multi-asset strategy to produce absolute or real returns with less volatility than major equity markets over a complete market cycle, typically a period of five years. The fund is not managed to a benchmark index; it seeks to provide returns that are largely independent of market moves.
The fund allocates its investments among global equities, bonds and cash, and, generally to a less extent, other asset classes, including real estate, commodities, currencies and alternative or non-traditional asset classes and strategies by investing in securities and through derivative instruments.
James Harries, the fund’s primary portfolio manager is director of investment for global funds at Newton. He has over 13 years of experience. Dreyfus Global Real Return Fund will be managed in line with Newton’s global thematic investment approach.
Jon Baum, chairman and CEO of Dreyfus, said: “World allocation funds, especially those pursuing absolute returns, are playing an increasingly important role for investors in a volatile marketplace. For investors interested in an actively managed fund that is not managed to a benchmark and that seeks to provide returns independent of market moves, Dreyfus Global Real Return Fund is structured with the latitude and flexibility to seek real returns.”