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On 6 June 2025, BNY Investments announced that James Lydotes, Deputy Chief Investment Officer of Equities, Head of Equity Income team and portfolio manager on the BNY Mellon Global Income fund, will be leaving the firm. Going forward, the fund will be co-managed by current managers, Jon Bell and Robert Hay.
Messrs Bell and Hay are established members of Newton’s Equity Income team (Newton Investment Management, a wholly owned subsidiary of The Bank of New York Mellon Corporation). Mr Bell joined Newton in 1995, and Mr Hay joined in 2000. They have worked on the Global Equity Income strategies since 2015. The managers work in a highly collaborative fashion, drawing on the expertise of the broader investment team at Newton, particularly those in the Global Research team who carry out fundamental equity analysis.
There are no changes to the fund’s well-established investment philosophy and clear dividend rules. This is a global equity income where positioning is heavily influenced by the firm’s macro-economic expectations and thematic insights. At the same time, the team adheres to a strict dividend discipline with a view to ensuring that the portfolio delivers an income premium.
We have been covering the fund and team for many years. According to our usual process, we will discuss this change with the managers during our upcoming reviews. In the meantime, the fund continues to feature within The Adviser Centre.
At The Adviser Centre, our primary aim is to support financial professionals in their fund selection and suitability work through independently-minded research, borne of decades of industry experience. Our process is framed by the fundamental concepts of “quality”, “value” and “utility”, through which we answer the key questions of why to invest in a fund, how it is likely to behave and how it can be deployed.
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We have known and worked with the team for several years and we value their experience and the insights they provide to our own investment process. The service differentiates itself by its more focused nature and the information on their factsheets is useful in emphasising a fund’s key mandate, exposure and style biases, helping to explain the risk/return journey that our customers can expect.
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