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BNY Mellon Multi-Asset Balanced Class T - Income (GBP)

Sell:117.51p Buy:117.51p Change: 0.17p (0.15%)
Prices as at 21 November 2024
Sell:117.51p
Buy:117.51p
Change: 0.17p (0.15%)
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now
Prices as at 21 November 2024
Sell:117.51p
Buy:117.51p
Change: 0.17p (0.15%)
Prices as at 21 November 2024
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now
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 is on the Wealth Shortlist of funds our analysts believe have the potential to outperform their peers over the long term. However, this is not a recommendation to buy.

Simon Nichols has built a strong track record in multi-asset investing and took over as lead manager of this fund in 2017.

The fund focuses on investing in companies with good long-term prospects from across the globe, with some bonds and cash to act as diversifiers.

We think the fund could diversify an investment portfolio focused on growth, or a portfolio focused on company shares. It could also provide some global exposure to a UK focused portfolio.

Our view on the sector

The Mixed and Flexible Investment sectors could be the answer for investors who want to leave the asset allocation decisions to an expert. Funds in these sectors invest a certain amount of their portfolio in shares, from 0% to 35% in the case of the Mixed Investment 0-35% Shares Sector, 20% to 60% for the Mixed Investment 20-60% Shares Sector, 40% to 85% for the Mixed Investment 40-85% Shares Sector, and 0% to 100% for the Flexible Investment Sector. Any proportion of the fund not invested in shares can be invested in bonds, cash, currencies, commodities or property. Funds within these sectors can be very different from each other so they'll perform differently too. Each should be looked at on its own merits, taking account of your investment objectives and the amount of risk you want to take.

Performance Analysis

The fund's done a good job of performing better than the IA mixed investment 40-85% sector average since Nichols took over in 2017. Nichols is naturally a conservative investor, which typically leads his multi-asset funds to not fall as much as peers during market sell offs . His multi-asset funds have typically experienced lower volatility than company shares over time and usually lower than multi-asset peers too, although this hasn't always been the case.

Investment Philosophy

The fund aims to achieve a balance between capital growth and income over the long term, defined as at least 5 years. It uses the IA mixed investment 40-85% sector average as a performance comparator. The fund invests in larger companies from across the globe with the potential to grow over the long term and are typically based in developed markets. The fund also invests in bonds, usually those issued by developed governments, and cash.

The underlying universe of potential investments for this fund is large and includes emerging markets, smaller companies, high yield bonds and derivatives. All of these types of investment add risk if used. While Nichols has the option to invest in these areas, his preference to date has been to invest in large companies from developed markets, government bonds and cash.

Please note that the fund takes its charges from capital which can increase the yield, but reduces the potential for capital growth.

Process and Portfolio Construction

Nichols invests in a combination of shares, bonds and cash. Most of the fund is invested in shares though, with typically 70-80% of the fund invested there.

He invests globally and most of the shares he invests in are from developed markets like the US, UK and Europe.

Nichols favours the shares of established companies with competitive advantages, that often pay a dividend. While there's no income target for the fund, Nichols likes companies that pay a dividend because of the discipline that this puts on company management teams. This usually leads him to favour large, established businesses, that are cash generative and don't have lots of debt.

The remainder of the fund is made up of bonds and cash. The bonds held in the fund are typically developed market government bonds, but Nichols could invest in corporate bonds if he wanted to. The bonds and cash part of the fund is there to act as a diversifier when markets fall in value.

question mark Manager Track Record Based on HL Quantitative Research

This information is currently unavailable.

Fund Track Record

21/11/19 to 21/11/20 21/11/20 to 21/11/21 21/11/21 to 21/11/22 21/11/22 to 21/11/23 21/11/23 to 21/11/24
Annual return n/a n/a n/a 5.28% 13.73%

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.

Information about the fund

Fund manager biography

manager photo
Manager Name: Paul Flood
Manager start date: 1 July 2022
Manager located in: TBC

Paul is a portfolio manager and strategist at Newton. He is a portfolio manager on the Newton Global Income strategy and is also lead manager of the Newton Multi-Asset Income strategy and the Newton Multi-Asset Diversified Return strategy. He also provides leadership and analysis on asset allocation, derivatives and convertible bonds for the wider firm, having spent the earlier part of his career working on strategic asset allocation and derivative strategy. Paul is responsible for generating ideas within alternative assets and has been leading in this area since 2008. He is a member of the asset class strategy group and provides feedback to the wider house on strategic and tactical asset allocation. Paul joined Newton in 2004. He is a CFA1 charterholder and has completed the certificate in quantitative finance (CQF) after passing with distinction. Paul studied Astrophysics at the University of St Andrews and is a keen cyclist and runner, having recently cycled the length of the UK from Land's End to John O'Groats and often participates in marathons.

manager photo
Manager Name: Bhavin Shah
Manager start date: 5 January 2018
Manager located in: TBC

Bhavin joined Newton in June 2011 as a portfolio manager within the multi-asset team. Prior to joining Newton, he worked at SG Hambros for 7 years where he was responsible for managing client portfolios focused on absolute return & multi-asset strategies. Bhavin is co-lead manager on a numerous multi asset accounts at Newton. In addition to portfolio management responsibilities, Bhavin is also a member of the Investment Risk Oversight Group and is a co-lead of our Net Effects thematic group, which focuses on digitalisation trends. Bhavin holds an MSc in Mathematics with distinction and is a CFA1 charterholder.

manager photo
Manager Name: Simon Nichols
Manager start date: 5 January 2018
Manager located in: London

Simon is a portfolio manager on the equity opportunities team responsible for managing both global equity and multi-asset portfolios. Simon joined Newton in 2001 and was responsible for research into a number of global industrial sectors before moving to portfolio management. Simon's experience includes managing global, multi-asset, charity and UK equity portfolios. Simon Is a chartered accountant (ACA) and prior to joining Newton he worked in both audit and insolvency practices at leading accountancy firms. He is a CFA1 charterholder, a member of the Chartered Institute for Securities and Investment (MCSI) and also holds a BA (Hons) degree in Industrial Economics from The University of Nottingham. Outside of work, Simon is a keen runner and is an active member of his son's local junior sports teams.

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
Invest now