Paul Brain to run offshore fund for BNY Mellon

Newton's Paul Brain is to run a new offshore global bond fund for BNY Mellon Asset Management based on his flagship onshore fixed income product.

The new Dublin-domiciled BNY Mellon Global Dynamic Bond fund is based on the flagship Newton Global Dynamic Bond fund Brain helped launch at Newton after he joined the group in 2004. The £321m portfolio returned 36.4% since launching in April 2006. It made 4.7% in the three months to 20 September, over double the IMA Global Bond sector's 2% average; 14.4% over one year against 10.8% from its sector peers; and 34.5% over three years versus 41.8% from rival products in the sector. Brain, Newton's team leader for fixed income, and his team will aim to profit by investing in global sov...