The fund will be managed by an investment team led by Sean Fitzgibbon at The Boston Company, a brand of BNY Mellon Asset Management North America, and will replicate the first iteration of strategy, which was launched in Asia at the start of the year.
“The fund aims to achieve long-term capital growth by investing in companies across the market cap spectrum that are disrupting and transformationally shifting how we use, power and control our means of mobility,” the group said.
It will invest across a broad spectrum of companies spanning multiple industries addressing the theme of mobility innovation.
This includes the unprecedented software and data infrastructure capabilities required to support autonomous driving; advanced driver assistance systems (ADAS) for road safety; the rapid increase in demand for electric vehicles as a result of changing clean energy regulation; and the growing use of ride sharing applications.
Investments will include advanced driver assistance systems, electric vehicles and ride sharing applications.
Hilary Lopez, head of European intermediary distribution at BNY Mellon Investment Management, said: “Mobility innovation will profoundly impact businesses, governments and consumers by materially altering interactions across the mobility landscape.
“Notable advancements in technology, coupled with increasing urban populations and environmental challenges, are all combining to create a transformational shift in the types of firms we can invest in today.
The fund will be available to investors in Denmark, France, Germany, Italy, Netherlands, Spain, Switzerland and the United Kingdom, as well as to accredited investors including private banks in Singapore and Hong Kong.
BNY Mellon Investment Management has US$1.8trn assets under management.