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The firm found seven funds merit "further action"
BNY Mellon Investment Management has marked seven of its funds for ongoing reviews into performance and fees, with the amber-rated funds given until February 2021 to shape up.
Of the 40 funds in the BNY Mellon Investment Funds range, seven received an amber rating, while another seven were excluded from being rated due to insufficient track record, leaving the remaining 26 funds rated green, offering "value for money" by its Assessment of Value (AoV) report. The BNY Mellon Corporate Bond fund was spared a red rating because "remedial action has already been taken with positive results for investors", including a manager change in October 2019 following a period of not achieving its investment objective of outperforming its benchmark by 1.5%. BlackRock value...
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