Dreyfus Cash Management Solutions

BNY Mellon Fixed Income Solutions

Your Liquidity Needs + Our Credit and Investment Experience = Customized Investment Solutions

We offer sophisticated institutional investors a wide range of short-term cash investment solutions — scalable and nimble enough to meet most client needs. Our experienced team is ready to answer any questions you may have.

Domestic Money Market Mutual Funds

Dreyfus’ domestic money market mutual funds have been meeting the cash needs of institutional and retail customers dating back to 1976. We offer more than 20 domestic money market mutual funds for asset management account use, with multiple share classes and expense structures, to support asset management account services for your customers. Dreyfus’ money market funds are available in all major asset categories, including general purpose (prime), Treasury, U.S. government, national and state-specific municipals and AMT-free municipals.

Taxable Separately Managed Accounts

Mellon Investments Corporation’s (Mellon) separately managed accounts have an investment management focus that is exclusively dedicated to fixed income and credit solutions for institutional investors. Mellon’s scope of services, size and scale facilitate their ability to deliver efficient, alpha-driven solutions to clients throughout the globe who may benefit from fully customized, separate account strategies. SMA solutions are offered with average maturities/durations ranging from 0.25–3 years. Strategies are available in government/credit, government, and treasury.

Ultra Short Income Mutual Fund

The Ultra Short Income Mutual Fund is managed by the investment professionals at Cash Investment Strategies, a division of BNY Mellon Investment Adviser, Inc. This variable net asset value mutual fund has an investment approach that seeks high current income consistent with the maintenance of liquidity and low volatility of principal. The fund will typically invest more than 25% of its assets in securities issued by companies in the financial services industry and repurchase agreements secured by such obligations. The fund will also invest in a broad range of U.S. dollar denominated debt securities, including money market instruments, and will seek to maintain a dollar-weighted average portfolio maturity of 120 days or less.

Private Funds:

Private funds are securities that are exempt from registration.  Shares or interests of the private funds we offer are exempt from registration as securities under the Securities Act of 1933, and those private funds are exempt from the definition of "investment company" in reliance on Section 3(c)7 of the Investment Company Act of 1940. These funds may only be offered to prospects who are accredited investors and qualified purchasers. Shares or interests of these funds constitute a private offering made in compliance with Regulation D.

Sub-Advisory

Dreyfus’ sub-advisory capabilities are highly customizable and leverage our sophisticated portfolio/credit/risk management, fund administration and compliance infrastructure. Whether you are looking for an advisor to manage your own fund or looking to outsource all your money market operations, Dreyfus has all of the resources and expertise to meet your needs.

Dreyfus Insured Network Deposits® Program

The Dreyfus Insured Network Deposits® Program provides financial institutions with access to a multi-bank deposit sweep service providing FDIC insurance on cash balances up to $2.5 million. Interest rates are based on linked brokerage accounts.
(The Dreyfus Insured Network Deposits Program does not involve investment in a money market mutual fund. Money market mutual funds are not FDIC-insured and involve risk of principal loss.)

Offshore Money Funds

Offshore money funds are UCITS-compliant and designed for non-U.S. persons who desire professional active management of their liquid assets. 
(Offshore Funds are not available to U.S. Persons (as described in the Prospectus) and may only be offered and sold in accordance with Regulation S under the Securities Act of 1933 by authorized entities.)

 

Dreyfus Cash Management Solutions Comparison

 

General Features Domestic and Offshore Money Market Mutual Funds Private Funds Taxable SMA Ultra Short  Income Mutual Fund Sub-Advisory FDIC-Insured Deposit Program
Objective Seeks to provide shareholders with high current income to the extent consistent with capital preservation and the maintenance
of liquidity
Seeks to obtain a high level of current income to the extent consistent with the preservation of capital and the maintenance
of liquidity
Seeks to achieve specific client return objectives on an absolute and risk-adjusted basis versus a given or customized benchmark, consistent with each client’s risk tolerance and their investment guidelines Seeks high current income consistent with the maintenance of liquidity and low volatility of principal Provide shareholders with high current income to the extent consistent with capital preservation and the maintenance of liquidity Multi-bank deposit program that provides FDIC insurance coverage up to $2.5 million per account
Typical Initial Investment Minimum $10 million+ $50 million
$50 million per account; negotiable if you confirm additional investments
$10 million $200 million per mandate For intermediaries,
the anticipated minimum of $1 billion
Fees Specified in the prospectus Specified in the Information Brochure Negotiable Specified in the prospectus Negotiable Negotiable depending on the size of the program
Portfolio Customization No No Can be customized to match investor investment policy statement by credit quality, duration, risk, liquidity, yield or gain/loss, as well as other portfolio characteristics No Yes; customizable within the parameters of Rule 2a-7 No
Liquidity Daily (business day) Daily (business day) Can be customized to the client’s specific cash flows — even on a daily (business day) basis Trade Date + 3 via DTC; Trade Date +1 (direct by phone or LION Internet) Daily (business day) Daily (business day)
Net Asset Value Calculation Amortized cost Amortized cost Market value Fair value Amortized cost or market value depending on product that is sub-advised N/A
Security Ownership Beneficial ownership of fund shares Partnership Individual securities are registered in the client’s name Beneficial ownership of fund shares Beneficial ownership of fund shares None; product is a bank deposit, not a security
Reporting/Due Diligence Monthly statements and performance fact sheets; access to client service; daily and monthly transparency of fund holdings Monthly statements; access to client service; daily and monthly transparency of fund holdings Customized client investment review and reporting (can be monthly or quarterly based on client’s needs) Monthly statements, performance fact sheets and monthly fund holdings Monthly appraisal and stress test reports; quarterly portfolio attribution, summary and country of risk reports; annual contract renewal Reporting done through broker statements

There can be no assurance the investment objectives described above can be achieved.

Investors should consider the investment objectives, risks, charges and expenses of a money market fund carefully before investing. Contact your Dreyfus Cash Solutions Representative to receive a prospectus, or a summary prospectus, if available, that contains this and other information about a money market fund or mutual fund, and read it carefully before investing.

Diversification and asset allocation do not ensure a profit or protect against loss.

The term “Dreyfus” collectively refers to the Dreyfus Cash Investment Strategies division of BNY Mellon Investment Adviser, Inc. (“BNYM Investment Adviser”), a registered investment adviser, and to the Dreyfus Cash Solutions division (“Dreyfus Cash Solutions”) of BNY Mellon Securities Corporation (“BNYMSC”), a registered investment adviser and broker/dealer and FINRA member.  Securities, private funds, the Dreyfus Insured Deposit Program (described below) and certain investment advisory products of Mellon Investments Corporation (“Mellon”) are offered through Dreyfus Cash Solutions.  Bank collective funds are offered by officers of The Bank of New York Mellon (the “Bank”).  BNYM Investment Adviser, BNYMSC and Mellon are BNY Mellon Investment Management firms; they and the Bank are affiliated, wholly-owned subsidiaries of BNY Mellon.  BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation.  “Dreyfus Cash Management Solutions” collectively refers to the products described in this presentation.

Sub-advisory products are only available through sub-advisory relationships with BNYM Investment Adviser.

Offshore Money Funds are each sub-funds of BNY Mellon Liquidity Funds plc, an open-ended investment company with variable capital incorporated under the laws of Ireland and authorized by The Central Bank of Ireland under UCITS regulations.  Offshore Money Funds are not available to U.S. Persons (as described in the BNY Mellon Liquidity Funds plc Prospectus) and may only be offered and sold by authorized entities in accordance with Regulation S under the Securities Act of 1933, as amended.

The Dreyfus Insured Deposit Program (the “Program”) is a product of Promontory Interfinancial Network LLC (“Promontory”), offered through a private labeling arrangement with Dreyfus Cash Solutions.  Promontory is 40% owned by BNY Mellon and is an affiliate of Promontory Financial Group, a provider of regulatory consulting to banks, broker/dealers and other financial services firms. The Program is available to clients of broker/dealers who clear through Pershing, LLC (Pershing). Pershing is BNY Mellon Investment Management firm and a wholly-owned subsidiary of BNY Mellon.

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