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The BNY Mellon Global Infrastructure Income ETF provides exposure to infrastructure asset classes while seeking an annualized gross forward-looking 12-month yield of 6% or more for its portfolio
NEW YORK, Nov. 3, 2022 /PRNewswire/ -- BNY Mellon Investment Management, one of the world's largest asset managers with $1.8 trillion in assets under management1, today announced the launch of the BNY Mellon Global Infrastructure Income ETF (ticker: BKGI). The ETF, which is listed on Cboe Global Markets, is sub-advised by Newton Investment Management North America, LLC (Newton), a BNY Mellon investment firm and leading equity and multi-asset manager with a long track record of investing experience.
The BNY Mellon Global Infrastructure Income ETF provides exposure to traditional and non-traditional infrastructure stocks while also seeking to deliver quarterly income through a global equity portfolio. The fund's traditional infrastructure set includes energy, industrials and utilities, and its non-traditional infrastructure consists of communications, health care and real estate. The fund's dual mandate looks to provide exposure to listed infrastructure while targeting an annualized gross forward-looking 12-month yield of 6% or more for its portfolio2.
The BNY Mellon Global Infrastructure Income ETF is managed by Newton's Deputy Chief Investment Officer of Equities and Head of Equity Income, James Lydotes, CFA, and the firm's Head of Global Equity Research, Brock Campbell, CFA.
"A key differentiator for infrastructure assets compared to other assets is their historic predictability and stability through market cycles as there is a constant need for these services, such as water, electricity, hospitals, and telecommunication, to name a few," said Mr. Lydotes. "Infrastructure is a diverse asset class that aligns with global societal trends and growth demands, such as increasing broadband access via 5G, energy transition, and supporting an aging population through senior living and acute care. We believe infrastructure assets can provide growth potential as well as regular income, and potential equity diversification for clients."
"We are pleased to offer our clients the BNY Mellon Global Infrastructure Income ETF as the newest offering in our growing suite of ETFs. This addition highlights our continued commitment to providing innovative, outcome-orientated strategies through versatile vehicles," said Andy Provencher, Head of North America Distribution at BNY Mellon Investment Management. "Through leveraging the capabilities, knowledge and expertise of Newton in equity investing, we're able to provide a differentiated infrastructure approach for our clients."
The BNY Mellon Global Infrastructure Income ETF becomes BNY Mellon Investment Management's 15th ETF and its seventh active ETF offering.
For more information on infrastructure investing and BNY Mellon Global Infrastructure Income ETF, please visit: www.im.bnymellon.com/etf.
About BNY Mellon Investment ManagementBNY Mellon Investment Management is one of the world's largest asset managers, with $1.8 trillion in assets under management as of September 30, 2022. Through an investor-first approach, BNY Mellon Investment Management brings to clients the best of both worlds: specialist expertise from seven investment firms offering solutions across every major asset class, backed by the strength, stability, and global presence of BNY Mellon. Additional information on BNY Mellon Investment Management is available on www.bnymellonim.com.
BNY Mellon Investment Management is a division of BNY Mellon, BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of September 30, 2022, BNY Mellon had $42.2 trillion in assets under custody and/or administration, and $1.8 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
About Newton Investment ManagementThe Newton Investment Management Group is used to collectively describe a group of affiliated companies that provide investment advisory services under the brand name 'Newton' or 'Newton Investment Management'. Investment advisory services are provided in the United Kingdom by Newton Investment Management Ltd and in the United States by Newton Investment Management North America LLC. Both firms are indirect subsidiaries of The Bank of New York Mellon Corporation ("BNY Mellon"). With assets under management of $98.7 million as of September 30, 2022, Newton provides discretionary and non-discretionary investment advice to institutional clients, including U.S. and global pension funds, sovereign wealth funds, central banks, endowments, foundations, insurance companies, registered mutual funds, other pooled investment vehicles and other institutions. Its office locations include London, Boston, New York and San Francisco. News and other information about Newton is available at www.newtonim.com and via Twitter: @NewtonIM.
Investors should consider the investment objectives, risks, charges and expenses of a fund carefully before investing. To obtain a prospectus, or a summary prospectus, if available, that contains this and other information about a fund, contact your financial professional or visit im.bnymellon.com. Read the prospectus carefully before investing.
Main RisksEquities are subject to market, market sector, market liquidity, issuer, and investment style risks, among other factors, to varying degrees. Investing in foreign denominated and/or domiciled securities involves special risks, including changes in currency exchange rates, political, economic, and social instability, limited company information, differing auditing and legal standards, and less market liquidity. These risks generally are greater with emerging market countries. Because the fund invests significantly in companies that are engaged in the infrastructure business, the fund is more susceptible to adverse economic, regulatory, political, legal and other changes affecting such companies. Infrastructure companies are subject to a variety of factors that may adversely affect their business or operations, including high interest costs in connection with capital construction programs, costs associated with environmental and other regulations, difficulty in raising capital in adequate amounts on reasonable terms in periods of high inflation or unsettled capital markets, the effects of economic slowdown and surplus capacity, increased competition from other providers of services, uncertainties concerning the availability of fuel at reasonable prices, the effects of energy conservation policies, service interruption due to environmental, operational or other mishaps, and other factors.
ETF shares are listed on an exchange, and shares are generally purchased and sold in the secondary market at market price. At times, the market price may be at a premium or discount to the ETF's per share NAV. In addition, ETFs are subject to the risk that an active trading market for an ETF's shares may not develop or be maintained. Buying or selling ETF shares on an exchange may require the payment of brokerage commissions. ETFs trade like stocks and are subject to investment risk, including possible loss of principal. The risks of investing in the ETF typically reflect the risks associated with the types of instruments in which the ETF invests. Diversification cannot assure a profit or protect against loss.
ETFs will issue (or redeem) fund shares to certain institutional investors known as "Authorized Participants" (typically market makers or other broker-dealers) only in large blocks of fund shares known as "Creation Units." BNY Mellon Securities Corporation ("BNYMSC"), a subsidiary of BNY Mellon, serves as distributor of the ETF funds. BNYMSC does not distribute fund shares in less than Creation Units, nor does it maintain a secondary market in fund shares. BNYMSC may enter into selected agreements with Authorized Participants for the sale of Creation Units of fund shares.
Recent market risks include pandemic risks related to COVID-19. The effects of COVID-19 have contributed to increased volatility in global markets and will likely affect certain countries, companies, industries and market sectors more dramatically than others. To the extent the fund may overweight its investments in certain countries, companies, industries or market sectors, such positions will increase the fund's exposure to risk of loss from adverse developments affecting those countries, companies, industries or sectors.
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1 AUM as of September 30, 2022, includes $34.6 billion AUM attributable to an entity which is no longer an affiliate of BNY Mellon as of November 1, 2022.
2 There is no assurance and certainty that the fund will achieve such targeted yield or any particular level of yield. The fund's targeted yield represents the forward-looking yield of the fund's portfolio securities in the aggregate over the next 12 months calculated before fund fees, expenses, and taxes, and does not represent the amount of distributions payable to fund shareholders.
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SOURCE BNY Mellon Investment Management