Dreyfus Corp., a unit of the asset management arm of Bank of New York Mellon Corp., has announced the start-up of the Dreyfus Brazil Equity Fund.
The fund, introduced Wednesday, seeks long-term capital growth by investing at least 80% of its assets in the equity securities of companies based in Brazil; whose principal trading market is in Brazil or that have most of their assets or profits derived from businesses, investments or sales in Brazil.
Phil Maisano, a vice chairman and the chief investment officer for BNY Mellon Asset Management, said the fund "will seek to capture the Brazilian growth story."
BNY Mellon ARX Investimentos Ltda., a unit of Bank of New York Mellon that is headquartered in Brazil, is to subadvise the fund.
The fund may invest in the stocks of companies of any size, though it is to focus on large- and mid-cap companies that generally have market capitalizations of $2 billion or more.
Rogerio Poppe and Bruno de Godoy Garcia are to co-manage the Dreyfus Brazil Equity Fund.