New Ireland BNYM Global Real Return
Managed Balanced (<65% Equity)
This fund invests in the BNY Mellon Global Real Return Fund (EUR) (GRRF). The GRRF invests in multiple asset classes (equities, bonds (government and corporate) & cash). The GRRF may gain exposure to currencies, commodities & property through stock exchange listed investments. The GRRF may invest in derivatives to generate returns & reduce costs or risks. The GRRF aims to provide a return of cash (as measured by 1 Month Euribor) + 4% p.a. over a rolling 5 year period before taxes and charges are deducted.
This fund aims to outperform cash (1-month EURIBOR) +4% p.a. over a rolling 5 year period (gross of tax and charges). The fund looks to provide investors with solid long term investment return, with less short term risk. Using a multi-asset approach, the fund has flexibility to move across and between asset classes when the manager believes it is necessary. It is important to understand that your investment may still fall as well as rise and that you may receive back less than you originally invested.
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176.90
EUR
+36.28 (+25.80%) past 3 year
as of 19 May 2026Equities
42
Alternative Investments
25.6
Government Bonds
21.8
Corporate Bonds
8.4
Cash
2.2
Fund insights
Detailed information extracted from the fund factsheet.
Underlying fund: BNY Mellon Global Real Return Fund (EUR) (GRRF)
Managed by Newton Investment Management
The GRRF may invest in derivatives to generate returns & reduce costs or risks.
For some funds that invest in shares or bonds, the assets in that fund may be used for the purpose of securities lending in order to earn an additional return for the fund. While securities lending increases the level of risk within a fund it provides an opportunity to increase the investment return.
Manager commentary - March 2026
The fund posted a negative return in March. The main detractor was direct equity exposure, with further weakness from emerging-market debt, corporate bonds, precious metals and euro hedging. These were partly offset by gains from the energy equity basket, risk premia and option hedges. Within alternatives, energy equities benefited from the supply shock and higher refiner margins, while precious metals detracted. Top equity contributors included Shell, CATL and SLB. Main detractors were Estée Lauder, Samsung Electronics and Rolls Royce. Equity hedges added modest gains.
- Alastair Stewart, Client Service Manager, Institutional Business, BNY Mellon Investment ManagementFrequently asked questions
Common questions about New Ireland BNYM Global Real Return.
BNYM Global Real Return Pen invests in the BNY Mellon Global Real Return Fund (EUR) (GRRF), which holds a mix of equities, government and corporate bonds, and cash. The underlying fund can also gain exposure to currencies, commodities and property through stock exchange listed investments. It is designed as an absolute return strategy rather than a traditional stock-only or bond-only fund.
BNYM Global Real Return Pen aims to provide a return of cash, measured by 1 Month Euribor, plus 4% per year over a rolling five-year period before taxes and charges. The underlying GRRF may use derivatives to try to generate returns and also to reduce costs or risks. In plain language, derivatives are financial contracts whose value is linked to another asset and can be used to help manage the portfolio.
BNYM Global Real Return Pen is described as a medium to long-term investment, with a recommended holding period of at least 5 to 7 years. It is classified as medium risk, so it may suit investors who can accept some ups and downs in pursuit of a return target. The fund’s absolute return approach means it is built for a smoother return profile than many single-asset funds, though results are not guaranteed.
BNYM Global Real Return Pen carries sustainability risk, and the underlying fund can also be affected by movements in equities, bonds, currencies and commodities. Currency exposure means changes in exchange rates can affect returns when investments are held in different currencies. Because the strategy may also use derivatives and securities lending, these can add complexity and, in the case of securities lending, increase risk in pursuit of extra return.
BNYM Global Real Return Pen is invested through a globally diversified portfolio with exposure to North American, European, emerging market, U.K. and Pacific Basin equities. Its top holdings include companies such as Alphabet, Amazon, AstraZeneca, Johnson & Johnson, JPMorgan Chase, Meta Platforms, NVIDIA, Rolls-Royce, Samsung Electronics and Taiwan Semiconductor Manufacturing. This suggests a broad global approach across both growth and defensive sectors.
New Ireland BNYM Global Real Return
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