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BNY MELLON GLOBAL FUNDS, PLC
(an umbrella fund with segregated liability between sub-funds)
BNY Mellon Global High Yield Bond Fund
BNY Mellon Global Opportunities Fund
BNY Mellon Long-Term Global Equity Fund
BNY Mellon Global Real Return Fund (USD)
BNY Mellon Global Real Return Fund (EUR)
BNY Mellon Global Equity Income Fund
BNY Mellon Global Dynamic Bond Fund
BNY Mellon Emerging Markets Corporate Debt Fund
BNY Mellon Global Emerging Markets Fund
BNY Mellon Japan Small Cap Equity Focus Fund
BNY Mellon Global Leaders Fund
BNY Mellon Global Credit Fund
BNY Mellon U.S. Equity Income Fund
BNY Mellon Global Short-Dated High Yield Bond Fund
BNY Mellon U.S. Municipal Infrastructure Debt Fund
BNY Mellon Emerging Markets Debt Total Return Fund
BNY Mellon Global Infrastructure Income Fund
BNY Mellon Mobility Innovation Fund
SINGAPORE PROSPECTUS
31 May 2021
This Singapore Prospectus incorporates and should be read in conjunction with the Irish prospectus dated 4 November 2020 (consolidated as of 17 May 2021) as may be amended or supplemented from time to time (the “Irish Prospectus”) relating to BNY Mellon Global Funds, plc (the “Company”).
The Company is an open-ended umbrella type investment company with variable capital incorporated with limited liability under the laws of Ireland (registered number 335837) and authorised by the Central Bank of Ireland pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2011 (S.I. No. 352 of 2011), as amended.
The above eighteen sub-funds (“Sub-Funds”) have been recognised for retail distribution in Singapore under the SFA.
The Company has appointed BNY Mellon Investment Management Singapore Pte. Limited as its Singapore representative and agent for service of process in Singapore (details of which appear in Paragraphs 9 and 10 of this Singapore Prospectus).
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This Singapore Prospectus is authorised for distribution only when accompanied by the Irish Prospectus. Please read this Singapore Prospectus and the Irish Prospectus for full information on the Sub-Funds.
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Paragraph Page
1. Singapore Prospectus and Irish Prospectus................................................................ 1
2. Singapore Recognition of the Sub-Funds.................................................................... 2
3. Date of Registration ..................................................................................................... 2
4. The Company............................................................................................................... 2
5. The Sub-Funds ............................................................................................................ 2
6. Classes of Shares ........................................................................................................ 2
7. Disclaimers................................................................................................................. 14
8. Constitutive Documents ............................................................................................. 15
9. Singapore Representative and Registrar................................................................... 15
10. Singapore Directory ................................................................................................... 15
11. Manager, Investment Managers and Sub-Investment Manager ............................... 15
12. Custodian and Custodial Arrangements .................................................................... 20
13. Auditor ........................................................................................................................ 21
14. Investment Objective, Focus and Approach .............................................................. 22
15. Distribution Policy....................................................................................................... 38
16. Fees and Charges ..................................................................................................... 39
17. Risks .......................................................................................................................... 48
18. Subscription for Shares.............................................................................................. 49
19. Redemption of Shares ............................................................................................... 68
20. Switching or Conversion of Shares............................................................................ 70
21. Obtaining Price Information ....................................................................................... 70
22. Method of Valuation for the Sub-Funds’ Investments................................................ 70
23. Suspension of Dealings ............................................................................................. 71
24. Performance of Sub-Funds........................................................................................ 71
25. Soft Dollar Arrangements........................................................................................... 87
26. Conflicts of Interest .................................................................................................... 88
27. Reports....................................................................................................................... 89
28. Certain Singapore Tax Considerations ...................................................................... 89
29. Queries and Complaints ............................................................................................ 89
CONTENTS
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30. Repurchase / Reverse Repurchase and Stocklending Agreements ......................... 89
Appendix 1................................................................................................................................... 91
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IMPORTANT ADDITIONAL INFORMATION FOR SINGAPORE INVESTORS IN
BNY MELLON GLOBAL FUNDS, PLC
IMPORTANT: PLEASE READ AND RETAIN THIS SINGAPORE PROSPECTUS AND THE IRISH PROSPECTUS FOR FUTURE REFERENCE
1. SINGAPORE PROSPECTUS AND IRISH PROSPECTUS
This Singapore Prospectus relating to the following sub-funds:
1.1 BNY Mellon Global High Yield Bond Fund;
1.2 BNY Mellon Global Opportunities Fund;
1.3 BNY Mellon Long-Term Global Equity Fund;
1.4 BNY Mellon Global Real Return Fund (USD);
1.5 BNY Mellon Global Real Return Fund (EUR);
1.6 BNY Mellon Global Equity Income Fund;
1.7 BNY Mellon Global Dynamic Bond Fund;
1.8 BNY Mellon Emerging Markets Corporate Debt Fund;
1.9 BNY Mellon Global Emerging Markets Fund;
1.10 BNY Mellon Japan Small Cap Equity Focus Fund;
1.11 BNY Mellon Global Leaders Fund;
1.12 BNY Mellon Global Credit Fund;
1.13 BNY Mellon U.S. Equity Income Fund;
1.14 BNY Mellon Global Short-Dated High Yield Bond Fund;
1.15 BNY Mellon U.S. Municipal Infrastructure Debt Fund;
1.16 BNY Mellon Emerging Markets Debt Total Return Fund;
1.17 BNY Mellon Global Infrastructure Income Fund; and
1.18 BNY Mellon Mobility Innovation Fund
(collectively, the “Sub-Funds” and each a “Sub-Fund”),
incorporates and shall be read in conjunction with the Irish Prospectus. Unless the context
otherwise requires, terms defined in the Irish Prospectus shall have the same meanings
when used in this Singapore Prospectus except where specifically provided for otherwise
in this Singapore Prospectus.
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2. SINGAPORE RECOGNITION OF THE SUB-FUNDS
The Sub-Funds offered in this Singapore Prospectus are recognised collective investment
schemes under the SFA. A copy of this Singapore Prospectus has been lodged with and
registered by the Monetary Authority of Singapore (the “Authority”). The Authority
assumes no responsibility for the contents of this Singapore Prospectus. The registration
of this Singapore Prospectus by the Authority does not imply that the SFA or any other
legal or regulatory requirements have been complied with. The Authority has not, in any
way, considered the investment merits of the Sub-Funds.
3. DATE OF REGISTRATION
A copy of this Singapore Prospectus has been lodged pursuant to Section 298 of the SFA
with the Authority, who takes no responsibility for its contents. This Singapore Prospectus
shall be valid for a period of 12 months after the date of registration (i.e., up to and including
30 May 2022) and shall expire on 31 May 2022.
4. THE COMPANY
The Company is an open-ended umbrella type investment company with variable capital
incorporated in Ireland and authorised by the Central Bank of Ireland (the “Central Bank”)
as an Undertaking for Collective Investment in Transferable Securities (UCITS) pursuant
to the European Communities (Undertakings for Collective Investment in Transferable
Securities) Regulations 2011 (S.I. No. 352 of 2011), as amended.
For further information about the Company, please refer to the section entitled “The
Company” in the Irish Prospectus.
5. THE SUB-FUNDS
The Company is structured as an umbrella fund and may comprise several funds of assets.
The share capital of the Company (“Shares”) may be divided into different classes of
shares in one or more sub-funds.
For further information about the structure of the Company, please refer to the section
entitled “The Company – Structure” in the Irish Prospectus.
6. CLASSES OF SHARES
Separate classes of Shares are issued in relation to each Sub-Fund. The classes of Shares
of each Sub-Fund being offered under this Singapore Prospectus and the relevant
currencies are indicated in the table below.
Certain Share classes in the table below are yet to be incepted as of the date of this
Singapore Prospectus. A list of the Share classes which have been incepted may be
obtained from www.bnymellonim.com/sg/en/individual/.
Sub-Fund Share Class
BNY Mellon Global High Yield Bond Fund Class Euro A
Class Euro A (Inc.)
Class USD A (Acc.)
Class USD A (Inc.)
http://www.bnymellonim.com/sg/en/individual/
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Sub-Fund Share Class
Class AUD A (Acc.)
Class AUD A (Inc.) (M)
Class CAD A (Acc.)
Class CAD A (Inc.) (M)
Class HKD A (Acc.)
Class HKD A (Inc.) (M)
Class CNH A (Acc.)
Class CNH A (Inc.) (M)
Class SGD A (Acc.)
Class SGD A (Inc.) (M)
Class Euro H (hedged)
Class Euro H (Inc.) (hedged)
Class SGD H (Acc.) (hedged)
Class SGD H (Inc.) (hedged) (M)
Class AUD H (Acc.) (hedged)
Class AUD H (Inc.) (hedged) (M)
Class CAD H (Acc.) (hedged)
Class CAD H (Inc.) (hedged) (M)
Class CNH H (Acc.) (hedged)
Class CNH H (Inc.) (hedged) (M)
Class USD C (Inc.)
Class Euro W (Acc.) (hedged)
Class Euro W (Inc.) (hedged)
Class USD W (Acc.)
Class USD W (Inc.)
Class HKD W (Inc.) (M)
Class SGD W (Inc.) (hedged)
Class AUD W (Inc.) (hedged) (M)
Class CAD W (Inc.) (hedged) (M)
Class CNH W (Inc.) (hedged)(M)
BNY Mellon Global Opportunities Fund Class Euro A
Class USD A
Class AUD A (Acc.)
Class CAD A (Acc.)
Class HKD A (Acc.)
Class CNH A (Acc.)
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Sub-Fund Share Class
Class SGD A (Acc.)
Class Euro H (hedged)
Class AUD H (Acc.) (hedged)
Class CAD H (Acc.) (hedged)
Class CNH H (Acc.) (hedged)
Class SGD H (Acc.) (hedged)
Class Euro W (Acc.)
Class USD W (Acc.)
Class HKD W (Acc.)
Class SGD W (Inc.) (hedged)
Class AUD W (Acc.) (hedged)
Class CAD W (Acc.) (hedged)
Class CNH W (Inc.) (hedged)
BNY Mellon Long-Term Global Equity Fund Class Euro A
Class Euro A (Inc.)
Class USD A
Class USD H (Acc.) (hedged)
Class EUR B
Class USD B
Class USD B (Inc.)
Class CAD B (Acc.)
Class SGD B (Acc.)
Class SGD B (Inc.)
Class CNH B (Acc.)
Class HKD B (Acc.)
Class USD J (Acc.) (hedged)
Class CAD J (Acc.) (hedged)
Class HKD J (Acc.) (hedged)
Class CNH J (Acc.) (hedged)
Class SGD J (Acc.) (hedged)
Class Euro W
Class Euro W (Inc.)
Class USD W
Class USD W (Inc.)
Class USD W (hedged)
Class AUD W (Acc.) (hedged)
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Sub-Fund Share Class
Class CAD W (Acc.) (hedged)
Class HKD W (Acc.) (hedged)
Class CNH W (Acc.) (hedged)
Class SGD W (Acc.) (hedged)
BNY Mellon Global Real Return Fund (USD) Class USD A
Class USD A (Inc.)
Class AUD H (Acc.) (hedged)
Class CAD H (Acc.) (hedged)
Class CNH H (Acc.) (hedged)
Class SGD H (Acc.) (hedged)
Class USD W
Class USD W (Inc.)
Class AUD W (Acc.) (hedged)
Class CAD W (Acc.) (hedged)
Class CNH W (Acc.) (hedged)
Class SGD W (Acc.) (hedged)
BNY Mellon Global Real Return Fund (EUR) Class Euro A
Class Euro A (Inc.)
Class AUD H (Acc.) (hedged)
Class CAD H (Acc.) (hedged)
Class GBP H (Acc.) (hedged)
Class HKD H (Acc.) (hedged)
Class CNH H (Acc.) (hedged)
Class SGD H (Acc.) (hedged)
Class USD H (Acc.) (hedged)
Class Euro W
Class AUD W (Acc.) (hedged)
Class CAD W (Acc.) (hedged)
Class GBP W (Acc.) (hedged)
Class HKD W (Acc.) (hedged)
Class CNH W (Acc.) (hedged)
Class SGD W (Acc.) (hedged)
Class USD W (Acc.) (hedged)
BNY Mellon Global Equity Income Fund Class Euro A
Class Euro A (Inc.)
Class USD A
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Sub-Fund Share Class
Class USD A (Inc.)
Class Euro H (hedged)
Class Euro H (Inc.) (hedged)
Class Euro B
Class Euro B (Inc.)
Class USD B
Class USD B (Inc.)
Class AUD B (Acc.)
Class AUD B (Inc.)
Class CAD B (Acc.)
Class CAD B (Inc.)
Class HKD B (Acc.)
Class HKD B (Inc.)
Class CNH B (Acc.)
Class CNH B (Inc.)
Class SGD B (Acc.)
Class SGD B (Inc.)
Class Euro J (Acc.) (hedged)
Class Euro J (Inc.) (hedged)
Class SGD J (Acc.) (hedged)
Class SGD J (Inc.) (hedged)
Class AUD J (Acc.) (hedged)
Class AUD J (Inc.) (hedged)
Class CAD J (Acc.) (hedged)
Class CAD J (Inc.) (hedged)
Class CNH J (Acc.) (hedged)
Class CNH J (Inc.) (hedged)
Class Euro W
Class Euro W (Inc.)
Class USD W
Class USD W (Inc.)
Class HKD W (Inc.)
Class SGD W (Acc.) (hedged)
Class SGD W (Inc.) (hedged)
Class AUD W (Inc.) (hedged)
Class CAD W (Inc.) (hedged)
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Sub-Fund Share Class
Class CNH W (Inc.) (hedged)
BNY Mellon Global Dynamic Bond Fund Class USD A
Class USD A (Inc.)
Class Euro A
Class Euro A (Inc.)
Class CAD A (Acc.)
Class CAD A (Inc.)
Class AUD A (Acc.)
Class AUD A (Inc.)
Class HKD A (Acc.)
Class HKD A (Inc.)
Class CNH A (Acc.)
Class CNH A (Inc.)
Class SGD A (Acc.)
Class SGD A (Inc.)
Class Euro H (hedged)
Class Euro H (Inc.) (hedged)
Class CAD H (Acc.) (hedged)
Class CAD H (Inc.) (hedged)
Class SGD H (Acc.) (hedged)
Class SGD H (Inc.) (hedged)
Class AUD H (Acc.) (hedged)
Class AUD H (Inc.) (hedged)
Class CNH H (Acc.) (hedged)
Class CNH H (Inc.) (hedged)
Class USD W
Class HKD W (Inc.)
Class Euro W (hedged)
Class CAD W (Inc.) (hedged)
Class SGD W (Acc.) (hedged)
Class SGD W (Inc.) (hedged)
Class AUD W (Inc.) (hedged)
Class CNH W (Inc.) (hedged)
BNY Mellon Emerging Markets Corporate Debt
Fund
Class Euro A
Class Euro A (Inc.)
Class USD A
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Sub-Fund Share Class
Class AUD A (Acc.)
Class AUD A (Inc.) (M)
Class HKD A (Acc.)
Class HKD A (Inc.) (M)
Class CNH A (Acc.)
Class CNH A (Inc.) (M)
Class SGD A (Acc.)
Class SGD A (Inc.) (M)
Class Euro H (hedged)
Class Euro H (Inc.) (hedged) (M)
Class AUD H (Acc.) (hedged)
Class AUD H (Inc.) (hedged) (M)
Class CNH H (Acc.) (hedged)
Class CNH H (Inc.) (hedged) (M)
Class SGD H (Acc.) (hedged)
Class SGD H (Inc.) (hedged) (M)
Class Euro W (Inc.) (hedged) (M)
Class USD W (Inc.)
Class HKD W (Inc.) (M)
Class AUD W (Inc.) (hedged) (M)
Class CAD W (Inc.) (hedged) (M)
Class CNH W (Inc.) (hedged) (M)
Class SGD W (Inc.) (hedged) (M)
BNY Mellon Global Emerging Markets Fund Class Euro A
Class USD A
Class Euro H (hedged)
Class Euro B (Acc.)
Class Euro B (Inc.)
Class USD B (Acc.)
Class USD B (Inc.)
Class CAD B (Acc.)
Class SGD B (Acc.)
Class SGD B (Inc.)
Class AUD B (Acc.)
Class HKD B (Acc.)
Class CNH B (Acc.)
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Sub-Fund Share Class
Class Euro J (Acc.) (hedged)
Class CAD J (Acc.) (hedged)
Class SGD J (Acc.) (hedged)
Class SGD J (Inc.) (hedged)
Class AUD J (Acc.) (hedged)
Class CNH J (Acc.) (hedged)
Class USD W (Acc.)
Class Euro W (Acc.)
Class CAD W (Acc.)
Class AUD W (Acc.)
Class HKD W (Acc.)
Class SGD W (Acc.)
Class CNH W (Acc.)
Class Euro W (Acc.) (hedged)
Class CAD W (Acc.) (hedged)
Class AUD W (Acc.) (hedged)
Class SGD W (Acc.) (hedged)
Class CNH W (Acc.) (hedged)
BNY Mellon Japan Small Cap Equity Focus
Fund
Class USD H (hedged)
Class SGD H (Acc.) (hedged)
BNY Mellon Global Leaders Fund Class EUR A (Acc.)
Class EUR A (Inc.)
Class USD A (Acc.)
Class USD A (Inc.)
Class EUR H (Acc.) (hedged)
Class EUR H (Inc.) (hedged)
Class EUR B (Acc.)
Class EUR B (Inc.)
Class USD B (Acc.)
Class USD B (Inc.)
Class AUD B (Acc.)
Class CAD B (Acc.)
Class CNH B (Acc.)
Class HKD B (Acc.)
Class SGD B (Acc.)
Class SGD B (Inc.)
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Sub-Fund Share Class
Class SGD J (Acc.) (hedged)
Class EUR J (Acc.) (hedged)
Class AUD J (Acc.) (hedged)
Class CAD J (Acc.) (hedged)
Class CNH J (Acc.) (hedged)
Class USD W (Acc.)
Class USD W (Inc.)
Class EUR W (Acc.) (hedged)
Class EUR W (Inc.) (hedged)
Class AUD W (Acc.) (hedged)
Class CAD W (Acc.) (hedged)
Class HKD W (Acc.)
Class CNH W (Acc.) (hedged)
Class SGD W (Acc.) (hedged)
BNY Mellon Global Credit Fund Class USD A (Acc.)
Class USD A (Inc.) (Q)
Class EUR H (Acc.) (hedged)
Class EUR H (Inc.) (hedged) (Q)
Class AUD H (Acc.) (hedged)
Class AUD H (Inc.) (hedged) (Q)
Class CAD H (Acc.) (hedged)
Class CAD H (Inc.) (hedged) (Q)
Class CNH H (Acc.) (hedged)
Class CNH H (Inc.) (hedged) (Q)
Class SGD H (Acc.) (hedged)
Class SGD H (Inc.) (hedged) (Q)
Class USD W (Acc.)
Class USD W (Inc.) (Q)
Class EUR W (Acc.) (hedged)
Class EUR W (Inc.) (hedged)
Class AUD W (Inc.) (hedged) (Q)
Class CAD W (Inc.) (hedged) (Q)
Class CNH W (Inc.) (hedged) (Q)
Class SGD W (Inc.) (hedged) (Q)
BNY Mellon U.S. Equity Income Fund Class EUR A (Acc.)
Class EUR A (Inc.)
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Sub-Fund Share Class
Class USD A (Acc.)
Class USD A (Inc.)
Class EUR H (Acc.) (hedged)
Class EUR H (Inc.) (hedged)
Class USD B (Acc.)
Class USD B (Inc.)
Class EUR B (Acc.)
Class EUR B (Inc.)
Class SGD B (Acc.)
Class SGD B (Inc.)
Class AUD B (Acc.)
Class AUD B (Inc.)
Class CAD B (Acc.)
Class CAD B (Inc.)
Class HKD B (Acc.)
Class HKD B (Inc.)
Class CNH B (Acc.)
Class CNH B (Inc.)
Class EUR J (Acc.) (hedged)
Class SGD J (Acc.) (hedged)
Class SGD J (Inc.) (hedged)
Class AUD J (Acc.) (hedged)
Class AUD J (Inc.) (hedged)
Class CAD J (Acc.) (hedged)
Class CAD J (Inc.) (hedged)
Class CNH J (Acc.) (hedged)
Class CNH J (Inc.) (hedged)
Class EUR W (Acc.) (hedged)
Class EUR W (Inc.) (hedged)
Class USD W (Acc.)
Class USD W (Inc.)
Class AUD W (Inc.) (hedged)
Class CAD W (Inc.) (hedged)
Class HKD W (Inc.)
Class CNH W (Inc.) (hedged)
Class SGD W (Inc.) (hedged)
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Sub-Fund Share Class
BNY Mellon Global Short-Dated High Yield
Bond Fund
Class USD A (Acc.)
Class USD A (Inc.)
Class EUR H (Acc.) (hedged)
Class EUR H (Inc.) (hedged)
Class AUD H (Acc.) (hedged)
Class AUD H (Inc.) (hedged) (M)
Class CAD H (Acc.) (hedged)
Class CAD H (Inc.) (hedged) (M)
Class CNH H (Acc.) (hedged)
Class CNH H (Inc.) (hedged) (M)
Class SGD H (Acc.) (hedged)
Class SGD H (Inc.) (hedged) (M)
Class USD W (Acc.)
Class USD W (Inc.)
Class EUR W (Acc.) (hedged)
Class EUR W (Inc.) (hedged)
Class AUD W (Inc.) (hedged) (M)
Class CAD W (Inc.) (hedged) (M)
Class CNH W (Inc.) (hedged) (M)
Class SGD W (Inc.) (hedged) (M)
BNY Mellon U.S. Municipal Infrastructure Debt
Fund
Class USD A (Acc.)
Class USD A (Inc.)
Class USD A (Inc.) (M)
Class Euro H (Acc.) (hedged)
Class Euro H (Inc.) (hedged)
Class USD W (Acc.)
Class USD W (Inc.)
BNY Mellon Emerging Markets Debt Total
Return Fund
Class USD A (Acc.)
Class USD A (Inc.)
Class Euro H (Acc.) (hedged)
Class Euro H (Inc.) (hedged)
Class CAD H (Acc.) (hedged)
Class CAD H (Inc.) (hedged)
Class AUD H (Acc.) (hedged)
Class AUD H (Inc.) (hedged)
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Sub-Fund Share Class
Class SGD H (Acc.) (hedged)
Class SGD H (Inc.) (hedged)
Class CNH H (Inc.) (hedged)
Class CNH H (Acc.) (hedged)
Class USD W (Acc.)
Class USD W (Inc.)
Class Euro W (Acc.) (hedged)
Class Euro W (Inc.) (hedged)
Class CAD W (Acc.) (hedged)
Class CAD W (Inc.) (hedged)
Class AUD W (Acc.) (hedged)
Class AUD W (Inc.) (hedged)
Class SGD W (Acc.) (hedged)
Class SGD W (Inc.) (hedged)
Class CNH W (Acc.) (hedged)
Class CNH W (Inc.) (hedged)
BNY Mellon Global Infrastructure Income Fund Class EUR B (Acc.)
Class EUR B (Inc.)
Class USD B (Acc.)
Class USD B (Inc.)
Class USD B (Inc.) (M)
Class SGD B (Acc.)
Class SGD B (Inc.)
Class SGD B (Inc.) (M)
Class EUR J (Acc.) (hedged)
Class EUR J (Inc.) (hedged)
Class SGD J (Acc.) (hedged)
Class SGD J (Inc.) (hedged)
BNY Mellon Mobility Innovation Fund Class EUR B (Acc.)
Class EUR B (Inc.)
Class USD B (Acc.)
Class USD B (Inc.)
Class SGD B (Acc.)
Class SGD B (Inc.)
Class EUR J (Acc.) (hedged)
Class EUR J (Inc.) (hedged)
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Sub-Fund Share Class
Class SGD J (Acc.) (hedged)
Class SGD J (Inc.) (hedged)
The other sub-funds and classes of Shares referred to in the Irish Prospectus, but which
are not included in the list above, are currently not available for offer to the retail public in
Singapore.
The Shares of each Sub-Fund as mentioned in the list above are capital markets products
other than prescribed capital markets products (as defined in the Securities and Futures
(Capital Markets Products) Regulations 2018) and Specified Investment Products (as
defined in MAS Notice SFA 04-N12: Notice on the Sale of Investment Products and MAS
Notice FAA-N16: Notice on Recommendations on Investment Products).
7. DISCLAIMERS
The distribution of this Singapore Prospectus and the offering of the Sub-Funds and the
Shares may be restricted in certain jurisdictions. This Singapore Prospectus does not
constitute an offer or solicitation by anyone in any jurisdiction in which such offer or
solicitation is not lawful or in which the person making such offer or solicitation is not
qualified to do so or to anyone to whom it is unlawful to make such offer or solicitation.
Prospective investors should inform themselves as to the legal requirements, exchange
control regulations and tax consequences within the countries of their residence and
domicile for the acquisition, holding or disposal of Shares and any foreign exchange
restrictions that may be relevant to them.
The Shares referred to in this Singapore Prospectus are offered solely on the basis of the
information contained in this Singapore Prospectus and in the Irish Prospectus and in the
reports and documents referred to in this Singapore Prospectus and the Irish Prospectus.
In connection with the offer made hereby, no person is authorised to give any information
or to make any representations other than those contained in this Singapore Prospectus or
in the documents referred to herein and read in conjunction with the Irish Prospectus. If
given or made, such information or representations must not be relied upon as having been
authorised by the Company, the Manager (as defined below), Singapore Representative
(as defined below) or the distributor and any purchase made by any person on the basis of
statements or representations which are not contained in or which are inconsistent with the
information contained in this Singapore Prospectus, read in conjunction with the Irish
Prospectus, shall be solely at the risk of the purchaser.
To reflect material changes, this Singapore Prospectus may be updated from time to time
and investors should investigate whether a more recent Singapore Prospectus is available.
Investors are advised to carefully consider the risk factors set out under Paragraph 17 and
Appendix 1 of this Singapore Prospectus and the section entitled “Risk Factors” in the Irish
Prospectus.
Investors may wish to consult their independent financial adviser about the suitability of
shares of the Sub-Funds for their investment needs.
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8. CONSTITUTIVE DOCUMENTS
The constitutive documents of the Company are its Articles described in the Irish
Prospectus. Copies of the Articles are available for inspection by investors in Singapore at
the registered office of the Singapore Representative, free of charge, during normal
Singapore business hours.
9. SINGAPORE REPRESENTATIVE AND REGISTRAR
BNY Mellon Investment Management Singapore Pte. Limited has been appointed as the
representative (the “Singapore Representative”) of the Company for the purposes of
performing administration and other related functions relating to the offer of the Shares
under Section 287 of the SFA.
The Singapore Representative has also been appointed by the Company as its local agent
in Singapore to accept service of process on behalf of the Company.
The Administrator will be serving as the registrar of the Company. The register of
participants may be extracted at the offices of the Singapore Representative upon request,
subject to such restrictions and processing time as the Company or Singapore
Representative may impose.
10. SINGAPORE DIRECTORY
Singapore Representative and Agent for Service of Process in Singapore
BNY Mellon Investment Management Singapore Pte. Limited
Registered Office:
One Temasek Avenue, #04-02
Millenia Tower
Singapore 039192
Legal Advisers as to Singapore Law
Simmons & Simmons JWS Pte. Ltd.
168 Robinson Road, #11-01
Capital Tower
Singapore 068912
11. MANAGER, INVESTMENT MANAGERS AND SUB-INVESTMENT MANAGER
The Company has appointed as its manager, BNY Mellon Fund Management Luxembourg
S.A. (the “Manager”), which was incorporated in Luxembourg on 10 June 1988 as a public
limited company in the form of a société anonyme under the laws of the Grand Duchy of
Luxembourg. The Manager’s address is 2-4, rue Eugène Ruppert, L-2453 Luxembourg.
The Manager is ultimately a wholly owned subsidiary of The Bank of New York Mellon
Corporation and is a part of The Bank of New York Mellon Corporation group of companies.
The Manager is regulated by the Commission de Surveillance du Secteur Financier and
has been managing collective investment schemes and discretionary funds for 31 years.
The Manager also acts as manager to BNY Mellon Liquidity Funds plc, amongst others.
The Manager has responsibility for the management and administration of the Company’s
affairs, subject to the overall supervision and control of the Directors. The Manager has
delegated its functions as administrator, registrar and transfer agent to BNY Mellon Fund
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Services (Ireland) Designated Activity Company (the “Administrator”). The Manager has
delegated its investment management responsibilities to the Investment Managers.
If the Manager becomes insolvent, i.e. passes a resolution for its winding-up except a
voluntary liquidation for the purpose of reconstruction or amalgamation on terms previously
approved in writing by the Company, or if a Court of competent jurisdiction shall order a
winding-up of the Manager, or a receiver shall be appointed over the Manager’s assets, or
an examiner shall be appointed to the Manager or if some event having an equivalent effect
occurs, the management agreement can be terminated forthwith on notice by the Manager
or the Company.
If the Administrator becomes insolvent, i.e. enters into liquidation whether compulsory or
voluntary (save for the purpose of amalgamation or reconstruction of a solvent company
on terms agreeable to the Manager) or is unable to pay its debts or has an administrator,
receiver or examiner appointed over it or all or any of its assets, the administration
agreement may be terminated forthwith by the Manager giving written notice to the
Administrator.
As of the date of this Singapore Prospectus, the Board of Directors of the Manager
comprise of:
(a) Greg Brisk (British) Mr. Brisk is the Head of Governance at BNY Mellon Investment
Management. He has been in the finance industry since 1982. Mr. Brisk has a broad
range of governance responsibilities across BNY Mellon Investment Management,
focussed on adoption of best practices to protect shareholder interests in both fund
investor and BNY Mellon owned entities. Prior to this, from 2013-2015, he was Global
Head of Risk and Compliance Investment Management incorporating all of asset
management and wealth management businesses in BNY Mellon. Mr. Brisk is a
board director of BNY Mellon Investment Management Europe Holdings Ltd and BNY
Mellon Investment Management (APAC) holding Ltd (respectively the European and
Asian holding companies for investment management) and also sits on the board of
a number of other group entities, including individual boutiques, funds and
management companies across Europe, Asia and the USA. From April 2010-2012,
Mr. Brisk was Chief Operations Officer, BNY Mellon International Asset Management.
Prior to 2010, he was Chief Operations Officer for BNY Mellon Investment
Management EMEA Ltd, the international distribution business of the group. Before
taking on that role in 2002, Mr. Brisk was the European Head of Risk and Compliance
for the Mellon Group. Before joining BNY Mellon in 1999, Mr. Brisk worked at the
Financial Services Authority as a banking regulator with responsibility for American
banks in London. Mr. Brisk spent his first 17 years working in a variety of roles at the
Bank of England.
(b) Mark Flaherty (Irish) Mr. Flaherty is General Manager, Conducting officer and
Director of BNY Mellon Fund Management (Luxembourg) S.A. He is member of
certain working groups of ALFI, the Luxembourg fund association. Prior to joining
BNY Mellon Fund Management (Luxembourg) S.A in 2019, Mr Flaherty has worked
in the funds industry since 1997 and in Luxembourg since 2001. His primary focus
has been on fund operations, project management and governance of Luxembourg
and Irish fund ranges and management companies. Mr Flaherty is an Associate of
the Association of Certified Chartered Accountants. He holds the CAIA designation,
has a Bachelor of Commerce degree and Masters of Economic Science from the
National University of Ireland.
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(c) Udo Goebel (German) Mr. Goebel holds a Master Diploma in Business
Administration/Finance from the University of Trier/Germany and has over 20 years’
experience in the financial services industry. He joined BNY Mellon in 2005 and is
currently a Managing Director and a Member of the Board of BNY Mellon Fund
Management (Luxembourg) S.A. (formerly WestLB Asset Management
(Luxembourg) S.A.) Between 1997 and 2005, Mr. Goebel headed the Product
Development & Product Management team of Allianz Global Investors Luxembourg
S.A. and has served on the boards of various investment companies/SICAVs.
(d) Carole Judd (British) Mrs Judd’s executive career spanned over thirty years in the
Financial Services industry. During this time she held senior leadership positions in
Asset Management and Investment Consulting businesses in the UK, most notably
at Old Mutual and Willis Towers Watson. Following her retirement, she became an
Independent Non-Executive Director of BNY Mellon Fund Managers in the UK in
2019 and is a member of the Investment Committee at Nucleus Financial. Mrs Judd
holds a degree in Mathematics and Statistics and Post-graduate degree in
Operations Research from the University of Cape Town.
(e) Gerald Rehn (American) Mr. Rehn is Head of International Product & Governance
for BNY Mellon Investment Management. He leads product strategy, development,
ongoing performance oversight, client services and operations for the international
business’s funds and segregated account platforms. Gerald is a member of the
Investment Management Global & EMEA Distribution Executive Committees and a
board director for BNY Mellon Liquidity Funds PLC, BNY Mellon Global Management
Limited, BNY Mellon Fund Managers Limited, BNY Mellon Investment Management
EMEA Limited, and BNY Mellon Fund Management Luxembourg S.A. Gerald joined
BNY Mellon in 2013. He began his career in 1999 in the USA and has worked in the
Investment Management industry in the USA, UK and UAE since then. He holds an
MBA from Cass Business School (2004) and is a Chartered Financial Analyst®
(CFA).
(f) Marc Saluzzi (French) Mr. Saluzzi qualified as a “Réviseur d’entreprises” in 1996
after graduating from “ISG” (Institut Supérieur de Gestion) in Paris in 1986. He joined
PwC in 1986, was admitted as a partner in 1996 and has accumulated more than 30
years of experience in the asset management industry in Luxembourg and in the U.S.
Between 2006 and 2010, Mr. Saluzzi led the PwC Global Asset Management team.
Between 2011 and 2015, Marc was the Chairman of ALFI, the Luxembourg fund
association. Mr. Saluzzi retired from PwC Luxembourg in 2015 and is currently acting
as an independent director of several fund management companies in the United
Kingdom, Luxembourg, France and Switzerland.
As of the date of this Singapore Prospectus, there are no key executives other than the
Directors.
The Manager will appoint an investment manager on a fund-by-fund basis. An investment
manager may delegate its investment management functions in respect of a Sub-Fund to
a sub-investment manager.
The investment managers (each an “Investment Manager”, and collectively “Investment
Managers”) and the sub-investment manager (“Sub-Investment Manager”) for the Sub-
Funds are as follows:
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Sub-Fund Investment Manager Sub-Investment
Manager
BNY Mellon Global
Opportunities Fund
BNY Mellon Global Real
Return Fund (USD)
BNY Mellon Global Real
Return Fund (EUR)
BNY Mellon Global Equity
Income Fund
BNY Mellon Global Dynamic
Bond Fund
BNY Mellon Global
Emerging Markets Fund
Newton Investment
Management Limited
(“NIML”)
N/A
BNY Mellon Japan Small
Cap Equity Focus Fund
BNY Mellon Investment
Management Japan Limited
(“IMJ”)
N/A
BNY Mellon U.S. Equity
Income Fund
BNY Mellon U.S. Municipal
Infrastructure Debt Fund
BNY Mellon Global
Infrastructure Income Fund
BNY Mellon Mobility
Innovation Fund
Mellon Investments
Corporation (“MIC”)
N/A
BNY Mellon Emerging
Markets Corporate Debt
Fund
BNY Mellon Global Credit
Fund
BNY Mellon Global Short-
Dated High Yield Bond Fund
BNY Mellon Emerging
Markets Debt Total Return
Fund
Insight Investment
Management (Global)
Limited (“IIMGL”)
N/A
BNY Mellon Global High
Yield Bond Fund
Alcentra NY, LLC
(“Alcentra”)
N/A
BNY Mellon Long-Term
Global Equity Fund
BNY Mellon Global Leaders
Fund
Walter Scott & Partners
Limited (“WSPL”)
N/A
NIML is a company incorporated in the United Kingdom and a wholly owned subsidiary of
Newton Management Limited, which is ultimately a wholly owned subsidiary of The Bank
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of New York Mellon Corporation. It is regulated in the United Kingdom by the Financial
Conduct Authority. NIML provides discretionary investment management services to
institutional clients which include a wide range of institutional, charity and retail funds.
If NIML becomes insolvent i.e., a receiver or administrative receiver is appointed over all
or any of its assets or an administration order is made with regard to NIML or any
arrangement or composition is made with the creditors of NIML or NIML ceases or
threatens to cease to carry on business or to suspend payment of any of its debts or is
deemed to be unable to pay its debts as and when they fall due, the investment
management agreement may be terminated by the Manager immediately.
IMJ is a company incorporated in Japan and a wholly owned subsidiary of The Bank of
New York Mellon Corporation. It was established on November 1998 and is regulated by
the Financial Services Agency. It is a leading offshore investment management firm in
Japan.
If IMJ becomes insolvent i.e., passes a resolution for its winding-up (except a voluntary
liquidation for the purpose of reconstruction or amalgamation on terms previously approved
in writing by the Manager) or if a court of competent jurisdiction shall order a winding-up of
IMJ or a receiver shall be appointed over IMJ’s assets or an examiner shall be appointed
to IMJ (or procedures analogous to the foregoing are commenced against IMJ), the
investment management agreement may be terminated forthwith by the Manager.
MIC is a leading provider of high-quality single and multi-asset investment solutions using
both active and passive strategies for investors globally. MIC serves a wide variety of
institutional and intermediary clients in over 45 markets globally. MIC is a subsidiary of The
Bank of New York Mellon Corporation.
If MIC becomes insolvent i.e., goes into liquidation (except a voluntary liquidation for the
purpose of reconstruction or amalgamation upon terms previously approved in writing by
the Manager) or be unable to pay its debts or commit any act of bankruptcy under the laws
of Ireland or if a receiver is appointed over any of the assets of MIC or if some event having
equivalent effect occurs, the Manager may terminate the investment management
agreement forthwith by notice in writing.
IIMGL is a private limited company incorporated under the laws of England and Wales. It
is regulated by the FCA in the UK. IIMGL is a subsidiary of Insight Investment Management
Limited which is a wholly owned subsidiary of The Bank of New York Mellon Corporation.
If IIMGL becomes insolvent, ie. passes a resolution for its winding-up (except a voluntary
liquidation for the purpose of reconstruction or amalgamation on terms previously approved
in writing by the Manager) or if a court of competent jurisdiction shall order a winding-up of
IIMGL or a receiver shall be appointed over IIMGL’s assets or an examiner shall be
appointed to IIMGL (or procedures analogous to the foregoing are commenced against
IIMGL), the investment management agreement may be terminated forthwith by the
Manager.
Alcentra, formerly Alcentra, Inc., has been providing investment advisory services since
March 2002. The Bank of New York Mellon Corporation owns 100% of Alcentra’s parent
company, BNY Alcentra Group Holdings, Inc. Alcentra is a limited liability company
registered in Delaware and is regulated by the SEC.
If Alcentra becomes insolvent, ie. goes into liquidation (except a voluntary liquidation for
the purpose of reconstruction or amalgamation upon terms previously approved in writing
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by the Manager) or be unable to pay its debts or commit any act of bankruptcy under the
laws of Ireland or if a receiver is appointed over any of the assets of Alcentra or if some
event having equivalent effect occurs, the Manager may terminate the investment
management agreement forthwith by notice in writing.
WSPL, a wholly owned subsidiary of The Bank of New York Mellon Corporation since 2007,
was established in 1983 to offer global equity portfolio management to institutional
investors around the world. The firm’s investment focus, in line with its founding mission,
remains global equities, whereby the firm largely reserves all regional, income and other
mandates for existing clients and their cash flows. Irrespective of mandate, the firm’s
investment philosophy and process is consistently applied and every portfolio is managed
by bringing together the skill, judgement and experience of the firm’s own investment
research team.
If WSPL becomes insolvent, i.e., goes into liquidation (except a voluntary liquidation for the
purpose of reconstruction or amalgamation upon terms previously approved in writing by
the Manager) or be unable to pay its debts or commit any act of bankruptcy under the laws
of Ireland or if a receiver is appointed over any of the assets of WSPL or if some event
having an equivalent effect occurs, the Manager may terminate the investment
management agreement forthwith by notice in writing.
For further information about the Manager, Investment Managers and Sub-Investment
Manager, please refer to the section entitled “Management and Administration of the
Company” in the Irish Prospectus, and the sections entitled “The Investment Manager” and
“Sub-Investment Manager” in the relevant Supplement for each Sub-Fund in the Irish
Prospectus.
12. CUSTODIAN AND CUSTODIAL ARRANGEMENTS
The Bank of New York Mellon SA/NV, Dublin Branch has been appointed by the Company
to act as depositary of the Company’s assets, pursuant to the Depositary Agreement.
Biography of Depositary
The Depositary is a branch of The Bank of New York Mellon SA/NV which is a wholly owned
subsidiary of the Bank of New York Mellon Corporation. The Depositary has been
established in and operating in Ireland since 1 February 2013. It is a credit institution
authorised in Belgium and operating in Ireland on a branch basis. It is regulated by the
Central Bank of Ireland. Its main activity is to act as depositary of collective investment
schemes. The Depositary provides safe custody for the Company’s assets, which will be
held under the control of the Depositary.
Duties of Depositary
The duty of the Depositary is to provide safekeeping, oversight and asset verification
services in respect of the assets of the Company and each Sub-Fund in accordance with
the provisions of the UCITS Regulations (as defined in the Irish Prospectus). The
Depositary will also provide cash monitoring services in respect of each Sub-Fund’s cash
flows and subscriptions.
The Depositary will be obliged, inter alia, to ensure that the sale, issue, repurchase and
cancellation of Shares in the Company is carried out in accordance with the UCITS
Regulations and the Articles. The Depositary will carry out the instructions of the Company,
unless they conflict with the UCITS Regulations or the Articles. The Depositary is also
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obliged to enquire into the conduct of the Company in each financial year and report
thereon to Shareholders.
Depositary Liability
Pursuant to the Depositary Agreement, the Depositary will be liable for loss of financial
instruments held in custody (i.e. those assets which are required to be held in custody
pursuant to the UCITS Regulations) or in the custody of any sub-custodian, unless it can
prove that loss has arisen as a result of an external event beyond its control, the
consequences of which would have been unavoidable despite all reasonable efforts to the
contrary.
The Depositary shall also be liable for all other losses suffered as a result of the
Depositary’s negligent or intentional failure to properly fulfil its obligations under the UCITS
Regulations.
Depositary Delegation and Conflicts
Under the Depositary Agreement, the Depositary may delegate its safekeeping obligations
provided that: (a) the services are not delegated with the intention of avoiding the
requirements of the UCITS Directive and the UCITS Regulations, (b) the Depositary can
demonstrate that there is an objective reason for the delegation and (c) the Depositary has
exercised all due skill, care and diligence in the selection and appointment of any third party
to whom it wants to delegate parts of the safekeeping services, and keeps exercising all
due skill, care and diligence in the periodic review and ongoing monitoring of any third party
to whom it has delegated parts of its safekeeping services and of the arrangements of the
third party in respect of the matters delegated to it. The liability of the Depositary will not be
affected by virtue of any such delegation.
Under the Depositary Agreement, the Depositary has power to delegate the whole or any
part of its depositary functions, however as noted above, its liability will not be affected by
the fact that it has entrusted to a third party some or all of the assets in its safekeeping.
The Depositary has delegated its safe-keeping duties in respect of financial instruments in
custody to The Bank of New York Mellon for certain markets. The list of sub-delegates
appointed by the Depositary or by The Bank of New York Mellon is set out in Appendix IV
to the Irish Prospectus. The use of particular sub-delegates will depend on the markets in
which the Company invests. The Bank of New York Mellon and the sub-delegates set out
in Appendix IV to the Irish Prospectus are licensed and regulated in the relevant
jurisdictions.
If the Depositary becomes insolvent, i.e. the Depositary goes into liquidation (except a
voluntary liquidation for the purpose of reconstruction or amalgamation upon terms
previously approved in writing by the Company) or being unable to pay its debts within the
meaning of Section 570 of the Companies Act, 2014, or in the event of the appointment of
a receiver over any of the assets of the Depositary or if an examiner is appointed to the
Depositary or if some event having an equivalent effect occurs, the Depositary Agreement
may be terminated forthwith by the Company giving notice which shall take immediate or
subsequent effect.
For further information about the Depositary, please refer to the section entitled
“Management and Administration of the Company - Depositary” in the Irish Prospectus.
13. AUDITOR
The Board of Directors of the Company has appointed Ernst & Young at Harcourt Centre,
Harcourt Street, Dublin 2, Ireland as independent auditor of the Company.
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14. INVESTMENT OBJECTIVE, FOCUS AND APPROACH
The main investment objectives, policies and strategies of the Sub-Funds are as set out in
the table below. Please refer to the section entitled “The Company - Investment Objectives
and Policies” in the Irish Prospectus and the section entitled “Investment Objectives and
Policies” in the Supplement for each Sub-Fund in the Irish Prospectus for further details on
the investment objective, focus and approach of each Sub-Fund.
Sub-Fund Investment Objective, Policy and Strategy Profile of
Typical
Investor
BNY Mellon
Global High
Yield Bond
Fund
Investment Objective
The investment objective of the Sub-Fund is to achieve a
total return comprised of income and long-term capital
growth.
Investment Strategy
The Sub-Fund will invest primarily, meaning at least
80% of Net Asset Value, in a broadly diversified
portfolio of high yield bonds, which offer relatively
attractive risk adjusted yields. The Sub-Fund may
invest in assets denominated in currencies other than
the U.S. Dollar.
The Sub-Fund may utilise financial derivative
instruments (“FDI”) for investment, hedging and
efficient portfolio management purposes. It will use
the Relative Value at Risk (“VaR”) methodology to
assess the Sub-Fund’s leverage and market risk
volatility. The Sub-Fund’s portfolio will not exceed
twice the VaR on a representative benchmark
portfolio (using a 1 Business Day holding period). The
Relative VaR benchmark is the ICE Bank of America
Merrill Lynch Developed Markets High Yield
Constrained Index (hedged to US Dollars). The gross
leverage is expected to vary between 100% and
500% of the Net Asset Value. The gross leverage may
exceed this target level at times.
For further information on the Sub-Fund’s global
exposure and leverage, please refer to the section
entitled “Investment and Borrowing Restrictions –
Global Exposure and Leverage” in the relevant
Supplement in the Irish Prospectus relating to the
Sub-Fund.
Refer to the section entitled “Investment Objectives and
Policies” in the relevant Supplement in the Irish
Prospectus relating to the Sub-Fund for further
information on the investment strategy.
A typical
investor has a
medium to
long-term
investment
horizon.
BNY Mellon
Global
Opportunities
Fund
Investment Objective
The Sub-Fund aims to achieve long term capital growth
through investment primarily, (meaning at least two-thirds
of the Sub-Fund’s assets) in a portfolio of equity and
A typical
investor has a
medium to
long-term
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Sub-Fund Investment Objective, Policy and Strategy Profile of
Typical
Investor
equity-related securities of companies located worldwide,
the majority of which shall be listed or traded on Eligible
Markets1 located worldwide.
The Sub-Fund has no restrictions (save as set out under
the section entitled “The Company - Investment and
Borrowing Restrictions” in the Irish Prospectus) as to the
proportion allocated to any particular geographical area,
sector or type of security.
Investment Strategy
The Sub-Fund will invest primarily, meaning at least
two-thirds of the Sub-Fund’s Net Asset Value, in a
portfolio of equity and equity-related securities
(including convertible bonds (usually unrated),
convertible preference shares and warrants (subject
to a 10% limit of Net Asset Value of the Sub-Fund in
the case of warrants)) of companies located
worldwide which are listed or traded on Eligible
Markets.
The investment philosophy is based upon the
conviction of the Investment Manager that no
company, market or economy can be considered in
isolation; each must be understood in a global
context. The Investment Manager believes that
events occurring around the world influence all
financial markets and that successful investment in
global equities requires therefore a thorough
understanding of the world as a whole.
The Investment Manager identifies themes which
encompass the major areas of change in the world
and use these themes as the basis of our investment
ideas. This global, thematic approach allows the
Investment Manager to gain long-term perspective on
global financial markets and economies and always to
consider the ‘big picture’.
The Sub-Fund may utilise FDI for hedging and
efficient portfolio management purposes. It will use
the commitment approach as its global exposure
calculation methodology. The Sub-Fund’s maximum
leverage will be 50% of its total Net Asset Value. For
further information on the Sub-Fund’s global exposure
and leverage, please refer to the section entitled
“Investment and Borrowing Restrictions – Global
Exposure and Leverage” in the relevant Supplement
in the Irish Prospectus relating to the Sub-Fund.
investment
horizon.
1 “Eligible Markets” mean markets on which a Sub-Fund may invest, as defined in the Articles as
“Recognised Exchanges”. A list of such markets is contained in Appendix II to the Irish Prospectus.
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Sub-Fund Investment Objective, Policy and Strategy Profile of
Typical
Investor
Refer to the section entitled “Investment Objectives and
Policies” in the relevant Supplement in the Irish
Prospectus relating to the Sub-Fund for further
information on the investment strategy.
BNY Mellon
Long-Term
Global Equity
Fund
Investment Objective
The investment objective of the Sub-Fund is to achieve
long-term capital appreciation through investing primarily
(meaning at least three quarters of the Sub-Fund’s total
assets) in a portfolio of equity and equity related securities
of companies located throughout the world.
Investment Strategy
The Sub-Fund will invest primarily (meaning at least
three-quarters of the Sub-Fund’s Net Asset Value) in
a portfolio of equity and equity related securities of
companies located worldwide, the majority of which
shall be listed or traded on Eligible Markets.
The Sub-Fund may also invest indirectly in global
equity securities through instruments such as
American Depositary Receipts and Global Depositary
Receipts (collectively “Depositary Receipts”).
The Sub-Fund may utilise FDI for hedging and
efficient portfolio management purposes. It will use
the commitment approach as its global exposure
calculation methodology. The Sub-Fund’s maximum
leverage will be 50% of its total Net Asset Value. For
further information on the Sub-Fund’s global exposure
and leverage, please refer to the section entitled
“Investment and Borrowing Restrictions – Global
Exposure and Leverage” in the relevant Supplement
in the Irish Prospectus relating to the Sub-Fund.
Refer to the section entitled “Investment Objectives and
Policies” in the relevant Supplement in the Irish
Prospectus relating to the Sub-Fund for further
information on the investment strategy.
A typical
investor has a
medium to
long-term
investment
horizon.
BNY Mellon
Global Real
Return Fund
(USD)
Investment Objective
The investment objective of the Sub-Fund is to achieve a
total return in excess of a cash benchmark (as described
below) over an investment horizon of 3-5 years.
Investment Strategy
The cash benchmark of the Sub-Fund is 1 month USD
LIBOR + 4% per annum (the “Cash Benchmark”).
The Sub-Fund uses the Cash Benchmark as a target
set for the Sub-Fund’s performance to match or
exceed over 5 years before fees.
A typical
investor has a
medium to
long-term
investment
horizon.
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Sub-Fund Investment Objective, Policy and Strategy Profile of
Typical
Investor
The Sub-Fund is a multi-asset global portfolio and
may invest in equities, equity-related securities, debt
and debt-related securities, FDI (including currency
related FDI), collective investment schemes,
deposits, cash, money market instruments and cash
equivalents.
The Sub-Fund may invest in commodities, property,
renewable energy and infrastructure through a
combination of collective investment schemes
(including open-ended exchange traded funds),
equity and equity-related securities (such as listed
real estate investment trusts (“REITs”) and other
closed end listed funds) and fixed income securities
(such as exchange traded notes (including exchange
traded commodities and exchange traded
certificates)). Any investment in closed ended listed
funds shall constitute an investment in a transferable
security in accordance with the requirements of the
Central Bank.
The Sub-Fund may use FDI for investment, hedging
and efficient portfolio management purposes. It will
use the Absolute VaR methodology as its global
exposure calculation methodology. The Sub-Fund
applies an absolute VaR limit of 20% of the Net Asset
Value of the Sub-Fund (using a 20 Business Day
holding period). The gross leverage is expected to
vary between 0% and 1000% of the Net Asset Value.
The gross leverage may exceed this target level at
times. For further information on the Sub-Fund’s
global exposure and leverage, please refer to the
section entitled “Investment and Borrowing
Restrictions – Global Exposure and Leverage” in the
relevant Supplement in the Irish Prospectus relating
to the Sub-Fund.
Refer to the section entitled “Investment Objectives and
Policies” in the relevant Supplement in the Irish
Prospectus relating to the Sub-Fund for further
information on the investment strategy.
BNY Mellon
Global Real
Return Fund
(EUR)
Investment Objective
The investment objective of the Sub-Fund is to achieve a
total return in excess of a cash benchmark (as described
below) over an investment horizon of 3-5 years.
Investment Strategy
The cash benchmark of the Sub-Fund is 1 Month
EURIBOR + 4% per annum (the “Cash Benchmark”).
A typical
investor has a
medium to
long-term
investment
horizon.
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Sub-Fund Investment Objective, Policy and Strategy Profile of
Typical
Investor
The Sub-Fund uses the Cash Benchmark as a target
set for the Sub-Fund’s performance to match or
exceed over 5 years before fees.
The Sub-Fund is a multi-asset global portfolio and
may invest in equities, equity-related securities, debt
and debt-related securities, FDI (including currency
related FDI), collective investment schemes,
deposits, cash, money market instruments and cash
equivalents.
The Sub-Fund may invest in commodities, property,
renewable energy and infrastructure through a
combination of collective investment schemes
(including open ended exchange traded funds), equity
and equity-related securities (such as listed real
estate investment trusts (“REITs”) and other closed
end listed funds) and fixed income securities (such as
exchange traded notes (including exchange traded
commodities and exchange traded certificates)). Any
investment in closed ended listed funds shall
constitute an investment in a transferable security in
accordance with the requirements of the Central
Bank.
The Sub-Fund may utilise FDI for investment, hedging
and efficient portfolio management purposes. It will
use the Absolute VaR methodology as its global
exposure calculation methodology. The Sub-Fund
applies an absolute VaR limit of 20% of the Net Asset
Value of the Sub-Fund (using a 20 Business Day
holding period). The gross leverage is expected to
vary between 0% and 1000% of the Net Asset Value.
The gross leverage may exceed this target level at
times. For further information on the Sub-Fund’s
global exposure and leverage, please refer to the
section entitled “Investment and Borrowing
Restrictions – Global Exposure and Leverage” in the
relevant Supplement in the Irish Prospectus relating
to the Sub-Fund.
Refer to the section entitled “Investment Objectives and
Policies” in the relevant Supplement in the Irish
Prospectus relating to the Sub-Fund for further
information on the investment strategy.
BNY Mellon
Global Equity
Income Fund
Investment Objective
The investment objective of the Sub-Fund is to aim to
generate annual distributions and to achieve long-term
capital growth by investing predominantly in equity and
equity-related global securities.
A typical
investor has a
medium to
long-term
investment
horizon.
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Sub-Fund Investment Objective, Policy and Strategy Profile of
Typical
Investor
Investment Strategy
The Sub-Fund will invest primarily, meaning at least
three-quarters of the Sub-Fund’s Net Asset Value in a
portfolio of equity and equity-related securities,
including but not limited to, convertible preference
shares, warrants (up to 10% of the Sub-Fund’s Net
Asset Value) and convertible bonds (up to 10% of the
Sub-Fund’s Net Asset Value and which are not rated
by any recognised rating agency) of companies
located worldwide which are listed or traded on
Eligible Markets.
The Sub-Fund is a global fund and its investments are
not confined or concentrated in any particular
geographic region, market or industry sector. The
Sub-Fund may invest up to 10% of its Net Asset Value
in equity securities listed or traded on the Moscow
Exchange.
The Sub-Fund may utilise FDI for investment, hedging
and efficient portfolio management purposes. It will
use the commitment approach as its global exposure
calculation methodology. The Sub-Fund’s maximum
leverage will be 50% of its total Net Asset Value. For
further information on the Sub-Fund’s global exposure
and leverage, please refer to the section entitled
“Investment and Borrowing Restrictions – Global
Exposure and Leverage” in the relevant Supplement
in the Irish Prospectus relating to the Sub-Fund.
Refer to the section entitled “Investment Objectives and
Policies” in the relevant Supplement in the Irish
Prospectus relating to the Sub-Fund for further
information on the investment strategy.
BNY Mellon
Global
Dynamic
Bond Fund
Investment Objective
The objective of the Sub-Fund is to maximize the total
return from income and capital growth by investment
primarily (meaning at least three-quarters of the Sub-
Fund’s total assets) in a globally diversified portfolio of
predominantly corporate and government fixed interest
securities.
Investment Strategy
The Sub-Fund will primarily invest at least three-
quarters of the Sub-Fund’s Net Asset Value, in a
portfolio of either fixed or floating rate, international,
emerging market, sovereign, government,
supranational agency, corporate and bank bonds
(including mortgage and corporate bonds) and other
debt and debt-related securities (such as debentures,
notes (including corporate, sovereign, floating and
fixed rate notes)) asset and mortgage backed
A typical
investor has a
medium to
long-term
investment
horizon.
-
- 28 -
Sub-Fund Investment Objective, Policy and Strategy Profile of
Typical
Investor
securities, certificates of deposit and commercial
paper listed or traded on Eligible Markets located
worldwide.
The minimum credit rating of the debt and debt-
related instruments in which the Sub-Fund may invest
at time of purchase is CCC-/Caa3 (or its equivalent),
as rated by a Recognised Rating Agency.
The Sub-Fund may utilise FDI for investment, hedging
and efficient portfolio management purposes. It will
use the Absolute VaR methodology as its global
exposure calculation methodology. The Sub-Fund
applies an absolute VaR limit of 20% of the Net Asset
Value of the Sub-Fund (using a 20 Business Day
holding period). The gross leverage is expected to
vary between 0% and 1000% of the Net Asset Value.
The gross leverage may exceed this target level at
times. For further information on the Sub-Fund’s
global exposure and leverage, please refer to the
section entitled “Investment and Borrowing
Restrictions – Global Exposure and Leverage” in the
relevant Supplement in the Irish Prospectus relating
to the Sub-Fund.
Refer to the section entitled “Investment Objectives and
Policies” in the relevant Supplement in the Irish
Prospectus relating to the Sub-Fund for further
information on the investment strategy.
BNY Mellon
Emerging
Markets
Corporate
Debt Fund
Investment Objective
The Sub-Fund aims to generate a total return comprised
of income and capital growth by investing primarily in
corporate debt, and corporate debt-related instruments
issued by emerging markets issuers worldwide and in FDI
relating to such instruments.
Investment Strategy
The Sub-Fund will invest primarily (meaning at least
three-quarters of the Sub-Fund’s Net Asset Value) in
a broad range of corporate bonds, other bonds and
credit or bond related instruments and investments
including asset backed securities and convertible
bonds issued by corporate issuers, which are
economically tied or linked to emerging market
countries and which are listed or traded on any
Eligible Markets.
The Sub-Fund may utilise FDI for investment, hedging
and efficient portfolio management purposes. It will
use the commitment approach as its global exposure
calculation methodology. The Sub-Fund’s maximum
leverage will be 50% of its total Net Asset Value. For
further information on the Sub-Fund’s global exposure
A typical
investor has a
medium to
long-term
investment
horizon.
-
- 29 -
Sub-Fund Investment Objective, Policy and Strategy Profile of
Typical
Investor
and leverage, please refer to the section entitled
“Investment and Borrowing Restrictions – Global
Exposure and Leverage” in the relevant Supplement
in the Irish Prospectus relating to the Sub-Fund.
Refer to the section entitled “Investment Objectives and
Policies” in the relevant Supplement in the Irish
Prospectus relating to the Sub-Fund for further
information on the investment strategy.
BNY Mellon
Global
Emerging
Markets Fund
Investment Objective
The objective of the Sub-Fund is to achieve long-term
capital growth.
Investment Strategy
The Sub-Fund invests primarily (meaning at least
three-quarters of the Sub-Fund’s Net Asset Value), in
equity and equity related securities of companies
listed, traded, located in or deriving the majority of
their revenue or income from emerging market
countries (including, but not limited to Brazil, Chile,
China, India, Indonesia, Korea, Mexico, Philippines,
Taiwan and South Africa).
The Investment Manager intends for the Sub-Fund to
have a broad industry exposure. There is also no
restriction on market capitalisation in relation to the
equity and equity-related securities which the Sub-
Fund may invest in. Stock selection focuses on
companies which have strong fundamentals and are
attractively valued with the aim of delivering long-term
capital growth. The Sub-Fund is predominantly an
equities portfolio. Allocations are made at the
Investment Manager’s discretion, based upon the
Investment Manager’s proprietary global thematic
investment approach.
The Sub-Fund may also invest in exchange traded
funds (ETFs) and exchange traded notes (ETNs)
listed or traded on Eligible Markets located worldwide
in order to provide exposure to equity markets. Any
investment in open-ended ETFs will be in accordance
with the investment limits for collective investment
schemes (up to 10% of the Sub-Fund’s Net Asset
Value) and any investment in closed-ended ETFs will
be up to 5% of the Sub-Fund’s Net Asset Value.
Investments in ETNs will not exceed 20% of the Sub-
Fund’s Net Asset Value. The Sub-Fund may invest up
to 10% of its Net Asset Value in securities listed or
traded on the Moscow exchange, and up to 10% of its
Net Asset Value in securities not listed or traded on
Eligible Markets.
A typical
investor has a
medium to
long-term
investment
horizon.
-
- 30 -
Sub-Fund Investment Objective, Policy and Strategy Profile of
Typical
Investor
The Sub-Fund may utilise FDI for hedging and
efficient portfolio management purposes. It will use
the commitment approach as its global exposure
calculation methodology. The Sub-Fund’s maximum
leverage will be 50% of its total Net Asset Value. For
further information on the Sub-Fund’s global exposure
and leverage, please refer to the section entitled
“Investment and Borrowing Restrictions – Global
Exposure and Leverage” in the relevant Supplement
in the Irish Prospectus relating to the Sub-Fund.
Refer to the section entitled “Investment Objectives and
Policies” in the relevant Supplement in the Irish
Prospectus relating to the Sub-Fund for further
information on the investment strategy.
BNY Mellon
Japan Small
Cap Equity
Focus Fund
Investment Objective
The investment objective of the Sub-Fund is long-term
capital growth through investment in a portfolio of small
cap equities traded on one or more of the official stock
exchanges in Japan.
Investment Strategy
The Sub-Fund aims to achieve its investment
objective by investing at least 80% of the Net Asset
Value of the Sub-Fund in the equity securities of small
capitalisation (stocks which are predominantly below
500 billion Yen) companies listed, or regularly traded
on an Eligible Market in Japan.
The Investment Manager’s strategy is to invest in a
concentrated portfolio of small cap equities of
companies located in Japan, listed or regularly traded
on a recognised exchange in Japan. The Investment
Manager will choose stocks for the portfolio based on
fundamental research on a medium to long-term
earnings outlook, generally on a three year view,
targeting to generate excess return over the
benchmark mainly through stock selection. The
investment process focuses on identifying companies
with qualities such as growth potential, the ability to
deliver longer term earnings above market
expectations, as well as attractive valuation.
The Sub-Fund may utilise FDI for hedging and
efficient portfolio management purposes. It will use
the commitment approach as its global exposure
calculation methodology. The Sub-Fund’s maximum
leverage will be 100% of its total Net Asset Value. For
further information on the Sub-Fund’s global exposure
and leverage, please refer to the section entitled
“Investment and Borrowing Restrictions – Global
A typical
investor has a
medium to
long-term
investment
horizon.
-
- 31 -
Sub-Fund Investment Objective, Policy and Strategy Profile of
Typical
Investor
Exposure and Leverage” in the relevant Supplement
in the Irish Prospectus relating to the Sub-Fund.
Refer to the section entitled “Investment Objectives and
Policies” in the relevant Supplement in the Irish
Prospectus relating to the Sub-Fund for further
information on the investment strategy.
BNY Mellon
Global
Leaders Fund
Investment Objective
The investment objective of the Sub-Fund is to achieve
long term capital growth.
Investment Strategy
The Sub-Fund invests primarily (meaning at least
three-quarters of the Sub-Fund’s Net Asset Value) in
equity and equity-related securities (common and
preferred stock, American depositary receipts and
global depository receipts, securities convertible into
or exchangeable for such equities) issued by “large
capitalisation companies” located worldwide. Large
capitalisation companies typically refer to companies
with a market capitalisation value of more than US$10
billion at the time of purchase however the minimum
market capitalisation threshold for the Sub-Fund is at
the discretion of the Investment Manager.
The Sub-Fund may utilise FDI for hedging and
efficient portfolio management purposes. It will use
the commitment approach as its global exposure
calculation methodology. The Sub-Fund’s maximum
leverage will be 50% of its total Net Asset Value. For
further information on the Sub-Fund’s global exposure
and leverage, please refer to the section entitled
“Investment and Borrowing Restrictions – Global
Exposure and Leverage” in the relevant Supplement
in the Irish Prospectus relating to the Sub-Fund.
Refer to the section entitled “Investment Objectives and
Policies” in the relevant Supplement in the Irish
Prospectus relating to the Sub-Fund for further
information on the investment strategy.
A typical
investor has a
medium to
long-term
investment
horizon.
BNY Mellon
Global Credit
Fund
Investment Objective
The investment objective of the Sub-Fund is to achieve a
total return from income and capital growth.
Investment Strategy
The Sub-Fund aims to achieve its investment
objective by investing the majority of its Net Asset
Value, meaning over 50%, in global credit markets.
The remaining assets will be invested in non-credit
debt and debt-related securities (debt and debt-
related securities issued by governments,
A typical
investor has a
medium to
long-term
investment
horizon.
-
- 32 -
Sub-Fund Investment Objective, Policy and Strategy Profile of
Typical
Investor
supranationals and public international bodies),
currencies, cash and near cash assets.
The Sub-Fund may utilise FDI for investment, hedging
and efficient portfolio management purposes. It will
use the Relative VaR methodology to assess the Sub-
Fund’s leverage and market risk volatility. The Sub-
Fund’s portfolio will not exceed twice the VaR on a
representative benchmark portfolio (using a 20
Business Day holding period). The Relative VaR
benchmark is the Bloomberg Barclays Global
Aggregate Credit Index (hedged to U.S. Dollars). The
gross leverage is expected to vary between 50% and
800% of the Net Asset Value. The gross leverage may
exceed this target level at times. For further
information on the Sub-Fund’s global exposure and
leverage, please refer to the section entitled
“Investment and Borrowing Restrictions – Global
Exposure and Leverage” in the relevant Supplement
in the Irish Prospectus relating to the Sub-Fund.
Refer to the section entitled “Investment Objectives and
Policies” in the relevant Supplement in the Irish
Prospectus relating to the Sub-Fund for further
information on the investment strategy.
BNY Mellon
U.S. Equity
Income Fund
Investment Objective
The investment objective of the Sub-Fund is to maximise
total returns from income and capital growth.
Investment Strategy
The Sub-Fund invests primarily (meaning at least two-
thirds of the Sub-Fund’s Net Asset Value) in equity
and equity-related securities (common and preferred
stock, Depositary Receipts, listed real estate
investment trusts (“REITs”) and master limited
partnerships) (“MLPs”), issued by “large capitalisation
companies” located in the U.S.
The Sub-Fund may utilise FDI for investment, hedging
and efficient portfolio management purposes. It will
use the commitment approach as its global exposure
calculation methodology. The Sub-Fund’s maximum
leverage will be 50% of its total Net Asset Value. For
further information on the Sub-Fund’s global exposure
and leverage, please refer to the section entitled
“Investment and Borrowing Restrictions – Global
Exposure and Leverage” in the relevant Supplement
in the Irish Prospectus relating to the Sub-Fund.
Refer to the section entitled “Investment Objectives and
Policies” in the relevant Supplement in the Irish
A typical
investor has a
medium to
long-term
investment
horizon.
-
- 33 -
Sub-Fund Investment Objective, Policy and Strategy Profile of
Typical
Investor
Prospectus relating to the Sub-Fund for further
information on the investment strategy.
BNY Mellon
Global Short-
Dated High
Yield Bond
Fund
Investment Objective
The investment objective of the Sub-Fund is to deliver
positive returns greater than the Cash Benchmark on a 3-
year rolling basis.
Investment Strategy
The Sub-Fund aims to achieve its investment
objective by investing the majority of its Net Asset
Value, meaning over 50%, in a portfolio of high
yielding bonds with no geographical, industry or
sector focus (i.e. bonds that are considered by the
Investment Manager to be under-valued) that
generally mature or are expected to mature within 3
years.
The Sub-Fund may invest in debt and debt-related
securities which may be investment grade quality,
sub-investment grade quality (lower than BBB- at the
date of purchase as rated by Standard & Poor’s or
equivalent rating agencies) or unrated.
The Sub-Fund may utilise FDI for investment, hedging
and efficient portfolio management purposes. It will
use the commitment approach as its global exposure
calculation methodology. The Sub-Fund’s maximum
leverage will be 50% of its total Net Asset Value. For
further information on the Sub-Fund’s global exposure
and leverage, please refer to the section entitled
“Investment and Borrowing Restrictions – Global
Exposure and Leverage” in the relevant Supplement
in the Irish Prospectus relating to the Sub-Fund.
Refer to the section entitled “Investment Objectives and
Policies” in the relevant Supplement in the Irish
Prospectus relating to the Sub-Fund for further
information on the investment strategy.
A typical
investor has a
medium to
long-term
investment
horizon.
BNY Mellon
U.S.
Municipal
Infrastructure
Debt Fund
Investment Objective
The Sub-Fund seeks to provide as high a level of income
as is consistent with the preservation of capital.
Investment Strategy
The Sub-Fund aims to achieve its investment
objective by investing predominantly in a portfolio of
municipal bonds issued to finance infrastructure
sectors and projects in the United States of America,
its territories and possessions and which are listed or
traded on Eligible Markets.
A typical
investor has a
medium to
long-term
investment
horizon.
-
- 34 -
Sub-Fund Investment Objective, Policy and Strategy Profile of
Typical
Investor
The Sub-Fund may invest in government and/or
corporate debt and debt-related securities which may
be fixed or floating rate securities (i.e. municipal
bonds, Variable Rate Demand Notes (VRDNs), tender
option bonds, Floating Rate Notes (FRNs), treasury
bills, agency bonds, zero coupon bonds, mortgage
backed securities, money market instruments (i.e.
commercial paper and bank deposits), private
placements (i.e. 144A bonds) and which are issued or
guaranteed by the U.S. government or its agencies,
local authority, public international bodies, banks,
corporates or other commercial issuers).
The Sub-Fund may utilise FDI for investment, hedging
and efficient portfolio management purposes. It will
use the Absolute VaR methodology as its global
exposure calculation methodology. The Sub-Fund
applies an absolute VaR limit of 20% of the Net Asset
Value of the Sub-Fund (using a 20 Business Day
holding period). The gross leverage is expected to
vary between 0% and 200% of the Net Asset Value.
The gross leverage may exceed this target level at
times. For further information on the Sub-Fund’s
global exposure and leverage, please refer to the
section entitled “Investment and Borrowing
Restrictions – Global Exposure and Leverage” in the
relevant Supplement in the Irish Prospectus relating to
the Sub-Fund.
Refer to the section entitled “Investment Objectives and
Policies” in the relevant Supplement in the Irish
Prospectus relating to the Sub-Fund for further
information on the investment strategy.
BNY Mellon
Emerging
Markets Debt
Total Return
Fund
Investment Objective
The Sub-Fund aims to generate a total return in excess of
the benchmark (as described below).
Investment Strategy
The Sub-Fund will measure its performance against a
composite benchmark. The constituents and weights
are 1/3 JP Morgan Government Bond Index –
Emerging Markets Global Diversified TR Index, 1/3 JP
Morgan Emerging Markets Bond Index Global
Diversified TR Index and 1/3 JP Morgan Corporate
Emerging Markets Bond Index Broad Diversified TR
Index.
The Sub-Fund aims to achieve its investment
objective by investing primarily (meaning at least
three-quarters of the Sub-Fund’s Net Asset Value) in
A typical
investor has a
medium to
long-term
investment
horizon.
-
- 35 -
Sub-Fund Investment Objective, Policy and Strategy Profile of
Typical
Investor
fixed and floating rate debt and debt-related securities
issued by sovereigns, governments, supranationals,
agencies, public international bodies, financial
institutions, local authorities and corporates which are
economically tied or linked to emerging market
countries.
The Sub-Fund may invest more than 10% and up to
35% of its Net Asset Value in debt securities issued
and/or guaranteed by a single sovereign issuer
(including its government, public or local authority)
which is below investment grade. Examples of such
sovereign issuers are Brazil, Indonesia and Turkey.
The Sub-Fund may invest up to 15% of its Net Asset
Value in securities listed or traded on the Moscow
Exchange.
The Sub-Fund may utilise FDI for investment, hedging
and efficient portfolio management purposes. The use
of FDI for investment purposes will not be extensive.
It will use the commitment approach as its global
exposure calculation methodology. The Sub-Fund’s
maximum leverage will be 100% of its total Net Asset
Value. For further information on the Sub-Fund’s
global exposure and leverage, please refer to the
section entitled “Investment and Borrowing
Restrictions – Global Exposure and Leverage” in the
relevant Supplement in the Irish Prospectus relating
to the Sub-Fund.
Refer to the section entitled “Investment Objectives and
Policies” in the relevant Supplement in the Irish
Prospectus relating to the Sub-Fund for further
information on the investment strategy.
BNY Mellon
Global
Infrastructure
Income Fund
Investment Objective
The Sub-Fund aims