The Board of Trustees of BNY Mellon Funds Trust is looking to add another sub-advisor to the 3-star rated, $1.2 billion BNY Mellon Mid Cap Multi-Strategy Fund.
Specifically, Geneva Capital Management Ltd. has been chosen as an additional sub-adviser to the fund, subject to shareholder approval, according to a filing. The fund’s current sub-advisor is Robeco.
In addition, the fund’s Board is also looking to add a "multi-manager" component to the vehicle, giving BNY Mellon Fund Advisers, the fund's investment adviser, flexibility to hire and replace sub-advisers in the future.
Shareholders will vote on January 8, 2013 on the both proposals. If approved, Geneva will start it new gig and the fund will commence its multi-manager strategy on March 21, 2013.