NEW YORK, March 30, 2015 /PRNewswire/ -- The Dreyfus
Corporation, the mutual fund arm of BNY Mellon Investment
Management, and CenterSquare Investment Management have launched
the Dreyfus Global Infrastructure Fund which provides individual
investors with the opportunity to invest in the growth potential of
infrastructure assets that connect people, resources, trade, goods
and services and information around the world.
With developed nations looking to improve or replace aging
infrastructure assets, and many emerging markets countries building
out their infrastructure to grow their economies, the World
Economic Forum estimates that $100
trillion will be invested in global infrastructure between
2010 and 20301. Traditionally, most infrastructure
projects have been financed by the public sector. However, with
public debt historically high versus GDP, more private capital will
be required to fund future investment, giving investors increasing
opportunities to benefit from an infrastructure allocation in their
portfolios.
CenterSquare Investment Management, the sub-adviser for the
fund, is a BNY Mellon Investment Management boutique specializing
in real asset investing. CenterSquare cites a number of
factors driving the need for infrastructure investment globally,
including new sources of renewable energy, the discovery and
utilization of new oil and gas deposits, and technological advances
in communications, among others. Underpinning the
demand for these assets is a growing and increasingly urban
population and an expanding middle class, adding more consumers and
increasing world trade.
Todd Briddell, chief executive
officer and chief investment officer for CenterSquare, said, "We
expect that there will be tremendous global demand for
infrastructure assets over the next few decades. Companies that
build and operate infrastructure assets are likely to see a
significant benefit from the economic and secular trends to
rehabilitate aging infrastructure and create new infrastructure to
meet growing demand. As a result, listed infrastructure companies
will increasingly take on a more significant role in the
development and ownership of these assets."
Briddell added, "Our investment focus will be on companies
managing real assets with strong cash flow visibility, low direct
commodity exposure, long duration contracts, and a steady long-term
demand outlook. The Dreyfus Global Infrastructure Fund will give
investors exposure to this dynamic and expanding sector, while
seeking to provide a growth alternative which may complement other
equity asset classes."
Managing an infrastructure strategy is a natural extension of
CenterSquare's expertise in listed real estate and real assets,
said Briddell, who added, "As in listed real estate, the return and
risk characteristics of global infrastructure securities are based
on the underlying real
assets."
The launch of the Dreyfus Global Infrastructure Fund follows the
December 2014 launch of
CenterSquare's infrastructure strategy for institutional
investors.
The primary portfolio managers for the fund are Maneesh Chhabria, who was instrumental in the
development of CenterSquare's global real estate investment trust
(REIT) platform in 2006, and Joshua B.
Kohn, a real assets investment specialist with more than 13
years of investment experience.
Investors should consider the investment objectives, risks,
charges and expenses of a mutual fund carefully before investing.
To obtain a prospectus, or a summary prospectus, if available, that
contains this and other information about a Dreyfus fund, contact
your financial advisor or visit dreyfus.com. Read the prospectus
carefully before investing.
About CenterSquare
CenterSquare was founded in 1987 and offers a variety of real
asset strategies and products. CenterSquare manages
approximately $7.5 billion in public
real estate and infrastructure securities through CenterSquare
Investment Management, Inc. and approximately $1.6 billion (gross) in debt and private equity
real estate investments through CenterSquare Investment Management
Holdings, Inc. (together referred to as "CenterSquare"), as of
December 31, 2014. It manages
investments for institutional investors and high net worth
individuals throughout global markets and across public and private
capital sectors. It is one of the investment boutiques of BNY
Mellon Investment Management.
About Dreyfus
The Dreyfus Corporation, established in 1951 and headquartered
in New York City, is one of the
nation's leading asset management and distribution companies
currently managing more than $270
billion in mutual funds and other cash management
vehicles. MSBC Securities Corporation is a Dreyfus
subsidiary.
About BNY Mellon
BNY Mellon Investment Management is one of the world's leading
investment management organizations and one of the top U.S. wealth
managers, with $1.7 trillion in
assets under management. It encompasses BNY Mellon's affiliated
investment management firms, wealth management services and global
distribution companies. More information can be found at
www.bnymellon.com.
BNY Mellon is a global investments company dedicated to helping
its clients manage and service their financial assets throughout
the investment lifecycle. Whether providing financial services for
institutions, corporations or individual investors, BNY Mellon
delivers informed investment management and investment services in
35 countries and more than 100 markets. As of Dec. 31, 2014, BNY Mellon had $28.5 trillion in assets under custody and/or
administration, and $1.7 trillion in
assets under management. BNY Mellon can act as a single point of
contact for clients looking to create, trade, hold, manage,
service, distribute or restructure investments. BNY Mellon is the
corporate brand of The Bank of New York Mellon Corporation (NYSE:
BK). Additional information is available on www.bnymellon.com, or
follow us on Twitter @BNYMellon.
All information source BNY Mellon as of December 31, 2014. This press release is
qualified for issuance in the US only and is for information
purposes only. It does not constitute an offer or solicitation of
securities or investment services or an endorsement thereof in any
jurisdiction or in any circumstance in which such offer or
solicitation is unlawful or not authorized. This press release is
issued by BNY Mellon Investment Management to members of the
financial press and media and the information contained herein
should not be construed as investment advice. Past
performance is not a guide to future performance. A BNY
Mellon Company.
Main Risks
Asset allocation and diversification cannot guarantee a
profit or protect against loss.
Equity funds are subject generally to market, market
sector, market liquidity, issuer, and investment style risks, among
other factors, to varying degrees. Investing internationally
involves special risks, including changes in currency exchange
rates, political, economic and social instability, a lack of
comprehensive company information, differing auditing and legal
standards and less market liquidity.
These risks are generally greater with emerging market countries
than with more economically and politically established foreign
countries. Companies engaged in infrastructure related
businesses and projects may be subject to a variety of factors
that may adversely affect their development, including (but not
limited to): high amounts of leverage and high interest costs in
connection with capital construction and improvement programs;
difficulty in raising capital in adequate amounts on reasonable
terms in periods of high inflation and unsettled capital markets;
and costs associated with compliance with and changes in
environmental and other regulations.
Funds that focus on a single sector or asset class may have
greater adverse exposure to factors affecting related businesses
and may experience higher volatility than funds that have more
diversified portfolios. Equity REITs may be affected by
changes in the value of the underlying property owned by the trust,
while mortgage REITs may be affected by the quality of any credit
extended. Further, REITs are highly dependent upon management skill
and often are not diversified. REITs also are subject to heavy cash
flow dependency and to defaults by borrowers or lessees.
Dreyfus Corporation is the Fund's investment advisor. MBSC
Securities Corporation,
distributor
1 World Economic Forum, Accelerating Infrastructure
Delivery, May 16, 2014
Contact:
Mike Dunn
+1 212 922 7859
mike.g.dunn@bnymellon.com
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SOURCE BNY Mellon