Pinnacle to launch infrastructure fund in Australia for BNY Mellon

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Pinnacle has partnered with BNY Mellon Investment Management to launch a global listed infrastructure yield fund. The fund will give Australian investors access to a domestic version of BNY Mellon Investment Management’s global infrastructure yield fund.

Pinnacle, which distributes and markets managed funds on behalf of boutique fund managers, has agreed to create a retail version of the US fund for BNY Mellon IM. Pinnacle Fund Services, which is fully owned by Pinnacle, will be the responsible entity of the fund.

The fund will be sub-managed by BNY Mellon Asset Management. It will hold approximately 20–40 securities and intends to apply the same approach as the existing offshore portfolios managed by the BNY Mellon IM, equivalent to $1.7 billion.

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