Our philosophy and process

  • The strategy follows an unconstrained, highly dynamic asset-allocation approach within a broad universe of global bonds; it can invest in government, emerging-market, high-yield and corporate bonds. The strategy has the flexibility to manage currency exposure actively to generate additional returns.
  • Environmental, social and governance (ESG) considerations are integrated throughout the research process to ensure that any material issues are captured.

Every time we consider a security or look at an industry or country, it’s in the context of what’s happening across the world. We believe the investment landscape is shaped over the long term by some key trends, and we use a range of global investment themes to capture these.

State intervention

Authorities have engaged in ever-greater policy intervention and regulation to shore up economic growth. We believe ‘state intervention’ has increased misallocation of capital, caused volatility in markets and inflated asset prices – and we think that calls for a stock-specific approach.

Financialisation

Cheap money has caused rapid growth in a sector already supported by deregulation. ‘Financialisation’ investigates the implications of finance dominating economic activity, instead of serving it.

Investment team

Our Global Dynamic Bond strategy is managed by a focused, experienced fixed-income team. Our global sector analysts and investment managers are located on a single floor in London, which helps to ensure that the investment process is flexible and opportunistic. Guided by our global investment themes, the team works together to identify opportunities and risks through research and debate.

21
years’ average investment experience
14
years’ average time at Newton
  • Paul Brain
    Paul Brain

    Investment leader, fixed income

  • Jon Day
    Jon Day

    Portfolio manager, fixed income

  • Parmeshwar Chadha
    Parmeshwar Chadha

    Portfolio manager, fixed income

  • Howard Cunningham
    Howard Cunningham

    Portfolio manager, fixed income

  • Carl Shepherd
    Carl Shepherd

    Portfolio manager, fixed income

  • Trevor Holder
    Trevor Holder

    Portfolio manager, fixed income

  • Scott Freedman
    Scott Freedman

    Analyst and portfolio manager, fixed income

  • Martin Chambers
    Martin Chambers

    Credit analyst, fixed income

  • Ashwin Palta
    Ashwin Palta

    Credit research analyst, fixed income

  • Jeevan Dhoot
    Jeevan Dhoot

    Credit analyst, fixed income

  • Catherine Doyle
    Catherine Doyle

    Investment specialist

Strategy profile

Objective

To maximise the total return from a globally diversified portfolio, predominantly comprising high-yielding corporate and government bonds

Performance benchmark

Aims to deliver a minimum return of SONIA (30-day compounded) +2% per annum over 5 years before fees.* In doing so, the strategy aims to achieve a positive return on a rolling 3-year basis. However, a positive return is not guaranteed and a capital loss may occur.

* Please note that on 1 October 2021, the performance benchmark for this strategy changed from 1-month GBP LIBOR +2% to SONIA (30-day compounded) +2%.

Literature

Application form
Key Investor Information Document (KIID)
Prospectus
BNY Mellon Global Dynamic Bond Fund factsheet

Fund factsheet

Information on performance and positioning.

Download Factsheet
RI report Global dynamic bond

Responsible investment report

Stewardship activities (voting and engagement) for the last quarter and ESG metrics.

Download Report
Investment matters: Russia, China and the new world order
Audio

Russia, China and the new world order

How the Ukraine conflict could change the geopolitical and investment landscape.
18 May 2022
Emerging markets & Asia, Fixed income, Global equities, Macro views
Global Dynamic Bond
Video

Fixed income – quarterly outlook

Portfolio manager Paul Brain assesses the fixed-income market backdrop and highlights key areas of opportunity.
18 May 2022
Fixed income, Macro views
Russian bear out in the cold
Blog

Russian bear out in the cold

We assess the possible investment implications of Russia’s invasion of Ukraine.
Richard Bullock
03 March 2022
Fixed income, Global equities, Macro views, Sector research, Ukraine

Key investment risks

  • The performance aim is not a guarantee, may not be achieved and a capital loss may occur. Strategies which have a higher performance aim generally take more risk to achieve this and so have a greater potential for the returns to be significantly different than expected.
  • This strategy invests in international markets which means it is exposed to changes in currency rates which could affect the value of the strategy.
  • The strategy may use derivatives to generate returns as well as to reduce costs and/or the overall risk of the strategy. Using derivatives can involve a higher level of risk. A small movement in the price of an underlying investment may result in a disproportionately large movement in the price of the derivative investment.
  • Investments in bonds are affected by interest rates and inflation trends which may affect the value of the strategy.
  • The strategy holds bonds with a low credit rating that have a greater risk of default. These investments may affect the value of the strategy.
  • The strategy may invest in emerging markets. These markets have additional risks due to less developed market practices.