BNY Mellon Investment Management has launched a mobility innovation fund, Citywire Asia has learnt.
The BNY Mellon Mobility Innovation fund, which is a thematic global equity fund, will be available to investors in Singapore, including private banks and family offices in Singapore and Hong Kong.
The fund is designed to replicate the firm’s first iteration of the $2 billion strategy, which was launched in Japan at the start of the year.
It will typically hold between 40-60 companies globally, focused on innovation in transportation and related technologies.
This includes software and data infrastructure capabilities required to support autonomous driving; advanced driver assistance systems for road safety; electronic equipment instruments; industrial conglomerates; and communications equipment, to name a few.
‘Our approach to thematic investing is different,’ said Sean Fitzgibbons, lead manager of the BNY Mellon Mobility Innovation fund.
‘Since themes cut across market cap, sectors and geographies, expertly understanding the long-term investment opportunity through the lens of a global research platform comprised of tenured research analysts is critical.
‘Many thematic investors end up doubling up on exposure to the large cap names that dominate indices. However because of our broader thematic definition and deep research platform, we build a concentrated portfolio comprised of our best ideas and structure it in a risk-controlled manner,’ he added.