Keen became lead manager of the Dublin-domiciled fund on 1 July, replacing Jason Pidcock, who remains as alternate manager.
She has been working as an analyst within the Asian equity team since she joined BNY Mellon in December 2009 and was appointed alternate manager on the Asian Equity Fund in January.
Morningstar OBSR said given Keen’s limited portfolio management experience, it felt caution was warranted until the impact of the management change became clear. The fund previously had a bronze rating.
BNY Mellon said the promotion of Caroline Keen to lead manager demonstrates its belief and commitment to developing its investment management talent pool.
The company added that Caroline has been an important member of its subsidiary Newton’s Asian equities team since 2009 and has made a valuable contribution to the investment idea generation and stock picking choices on the fund "making her the natural person to lead the fund".
Finally BNY Mellon said there had been no change to its onshore funds, the Newton Asian Income Fund and Newton Oriental Fund.