BNY Mellon has been named Money Management’s Fund House of the Year, seeing an average sector decile of 3.8 across 62 funds over the past 12 months. Although the average return was just 0.8 per cent, it was also one of only four large providers to record a positive figure across its fund range.
The June issue of Money Management analysed the performance of every unit trust over the past 12 months to determine which group had achieved the best average returns across its entire range of funds, using FE data. All funds were retail funds and organised by sector and by space as classified by the Investment Association (IA).
Fergus McCarthy, head of UK & Ireland intermediary sales at BNY Mellon, said the group’s performance could be related to the way it is run in a multi-boutique format. “It is a case that you can come to us and get different views and different investment approaches.”
BNY Mellon has many groups under one umbrella, including well-known names such as Newton and Insight.
Within the medium-sized groups (of houses with between 10 and 39 funds), Stewart Investors saw its average decile at 1 across 11 funds – although some funds were unranked due to being in the Unclassified or Specialist sectors.
And Miton offered strong returns, despite enduring some difficulty in the press following the announcement of UK managers George Godber and Georgina Hamilton’s departures later this year. The groups saw an average decile of 2.2 across its range of 10 funds.
