BNY Mellon launches blockchain themed fund – Fund Selector Asia

Fund Selector Asia
The product is an actively managed global portfolio investing in equities associated with companies that are set to benefit from the revenue generation and cost savings opportunities offered by distributed ledger technology, according to the US asset manager.
It aims to achieve long-term capital growth by primarily investing in digital assets companies, which are likely to benefit from the revenue or cost saving opportunities offered by blockchain technology or companies which enable blockchain technology.
The fund is managed by Newton Investment Management North America, an investment firm that is part of BNY Mellon Investment Management (IM).
“Blockchain technology has been adopted by companies in a wide range of sectors to enhance existing revenue streams and to reduce costs whilst some companies are generating revenue by offering blockchain-related services,” said Paul Liu, Singapore CEO and head of intermediary distribution for Southeast Asia at BNY Mellon IM, in a statement.
“[The fund] gives our clients the chance to gain direct exposure to companies that are early adopters of blockchain technology, some of which are likely to set the standards for blockchain deployment within their respective industries,” he added.
The fund is also available to institutional and intermediary investors in the UK, France, Germany, Italy, Spain, Belgium, Austria, Denmark, Switzerland, Norway, Sweden, Finland, the Netherlands and Luxembourg.

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