BNY Mellon Investment Management has launched the first blockchain-themed fund targeting retail investors in Singapore.

The BNY Mellon Blockchain Innovation Fund is an actively managed global portfolio investing in equities associated with companies that are set to benefit from the revenue generation and cost savings opportunities offered by distributed ledger technology. It aims to achieve long-term capital growth by primarily investing in digital assets companies.

The fund is managed by Newton Investment Management North America (Nimna), an investment firm that is part of BNY Mellon IM.

Paul Liu, Singapore CEO and head of intermediary distribution for Southeast Asia at BNY Mellon Investment Management, says: “The fund highlights our customized approach to creating investment opportunities that meet Singapore investors’ evolving needs and match distributors’ interest. Blockchain technology has been adopted by companies in a wide range of sectors to enhance existing revenue streams and to reduce costs while some companies are generating revenue by offering blockchain-related services.”

He adds: “This gives our clients the chance to gain direct exposure to companies that are early adopters of blockchain technology, some of which are likely to set the standards for blockchain deployment within their respective industries. We believe by identifying the blockchain theme early and investing in it over the long term, we can capitalize on this structural driver of growth for our clients.”

In addition to Singapore, the fund is available to institutional and intermediary investors in the United Kingdom, France, Germany, Italy, Spain, Belgium, Austria, Denmark, Switzerland, Norway, Sweden, Finland, the Netherlands and Luxembourg.