Santander multi-managers back BNY Mellon offering

Santander multi-managers Tom Caddick and Toby Vaughan have bought into the BNY Mellon Absolute Return Equity fund as they take a "relatively cautious" view on risk assets.

The duo began building the position in the £135m fund, run by BNY Mellon subsidiary Insight, towards the end of February across a number of their multi-manager portfolios. Funded predominately from cash, but also tied into a further reduction in their gilt holdings, Caddick and Vaughan have added the position in the view investors are operating in equity markets that will remain volatile for the foreseeable future. "We have done a significant amount of due diligence on Insight in general, and the fund is a slightly more flexible version of the Absolute Insight UK Equity Market Neutral...