Dreyfus Cash Management Solutions

BNY Mellon Fixed Income Solutions wheel

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

We offer sophisticated investors a wide range of short-term cash investment solutions — scalable and nimble enough to meet most client needs through our affiliated investment firms. 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.

Offshore Money Market Mutual 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.)

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.

Short Duration Bond Fund

The BNY Mellon 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.

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.

Private Placement 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.

The Dreyfus Insured Network Deposit® Program

The Dreyfus Insured Network Deposit® 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 Deposit 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.)

General Asset Management Account (GAMA)

GAMA is a state-of-the-art, private label asset management account designed to consolidate all of your clients’ securities, credit balances and cash transactions with an automated daily sweep into a selection of Dreyfus money market funds or an FDIC-insured product that seeks competitive current yields. GAMA gives your clients a single account from which they can control all their payment and investment options through a variety of cash-withdrawal, transfer and deposit features. With GAMA, your firm could be the only financial institution your clients will ever need.

 

Dreyfus Cash Solutions: A Comparison

 

General Features Domestic Money Market Mutual Funds1 Offshore Money Market Mutual Funds2 Taxable SMA3 Short Duration Bond Fund5 Sub-Advisory6 Private Placements Funds7 FDIC-Insured Deposit Program8 GAMA9
Objective Seeks to provide shareholders a high current income to the extent consistent with the preservation and the maintenance
of liquidity
Seeks to provide shareholders a high current income to the extent consistent with the preservation and the maintenance
of liquidity
Seeks to achieve specific client return objectives consistent with each client’s risk tolerance and investment guidelines Seeks to maximize total return, consisting of capital appreciation and current income 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 Multi-bank deposit program that provides FDIC insurance coverage up to $2.5 million per account For sweep solutions; seeks to provide share-holders with high current income to the extent consistent with capital preservation and the maintenance of liquidity
Typical Initial Investment Minimum $10 million+ $1 million+
$50 million per account4
$1 thousand $200 million per mandate $50 million For intermediaries, the anticipated minimum of $1 billion $0 for Dreyfus CIS; broker dealer can require a minimum
Fees Specified in the prospectus Specified in the prospectus Negotiable Specified in the prospectus Negotiable Specified in the information brochure Negotiable depending on the size of the program Negotiable based on the services selected
Portfolio Customization No No Customizable to match investor investment policy statement No Yes; customizable within the parameters of Rule 2a-7 No No No
Liquidity Daily (business day) Daily (business day) Customizable to the client’s specific cash flows Trade Date + 1 Daily (business day) Daily (business day) Daily (business day) Daily (business day)
Net Asset Value Calculation Amortized cost or market value Amortized cost Market value Market value Amortized cost or market value depending on fund type selected Amortized cost N/A Amortized cost or market value
Security Ownership Beneficial ownership of fund shares Beneficial ownership of fund shares Individual securities are registered in the client’s name Beneficial ownership of fund shares Beneficial ownership of fund shares Partnership None; product is a bank deposit, not a security Beneficial ownership of fund shares
Reporting/Due Diligence Monthly statements and performance fact sheets; access to client service; daily fund holdings Monthly statements and performance fact sheets; access to client service; weekly and monthly fund holdings Customized client investment review and reporting (can be monthly or quarterly based on client’s needs) Quarterly statements, performance fact sheets and fund holdings (15 days after month-end) Monthly appraisal and stress test reports; quarterly portfolio attribution, summary and country of risk reports/annual contract renewal Monthly statements; access to client service; daily and monthly transparency of fund holdings Reporting done through broker statements Reporting and due diligence performed by the broker dealer

In General: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.

1) Funds available in 3 classifications: Retail Prime and Tax-Exempt/Municipal Money Market Funds: You could lose money by investing in a money market fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund’s sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time. Government/Treasury Money Market Funds: You could lose money by investing in a money market fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund’s sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time. Although the fund's board has no current intention to impose a fee upon the sale of shares or temporarily suspend redemptions if the fund’s liquidity falls below certain levels, the board reserves the ability to do so after providing at least 60 days prior written notice to shareholders. Institutional Prime and Tax-Exempt Money Market Funds: You could lose money by investing in a money market fund. Because the share price of the fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. The fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund’s sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.

2) Such funds are not available to U.S. Persons (as generally described in the prospectus or offering document) and may only be offered and sold in accordance with Regulation S under the U.S. Securities Act of 1933. Since such funds are not registered in the U.S. under the U.S. Investment Company Act of 1940, and shares in such funds are not registered under the U.S. Securities Act of 1933, investors will not be entitled to the benefits of any such registration(s). Funds are available in two categories: short-term and standard. Short-term money market funds include three structural options: Public Debt (Government) Constant Net Asset Value (CNAV); Low Volatility Net Asset Value (LVNAV); and Variable Net Asset Value (VNAV). Standard money market funds include one structural option: Variable Net Asset Value (VNAV).

3) Mellon Investments Corporation (Mellon) is a global multi-specialist investment manager dedicated to serving its clients with a full spectrum of research-driven solutions. Mellon Investments Corporation (Mellon) is a registered investment adviser and an indirect subsidiary of The Bank of New York Mellon Corporation.

4) Negotiable if client confirms additional investments.

5) Such funds are not money market funds and therefore are not subject to the maturity, quality, liquidity and diversification requirements applicable to money market funds. Short-term bond funds do not attempt to maintain a stable NAV and may be subject to greater risk than money market funds. There are also substantial differences in the objectives and investment limitations between money market funds and the investments found in ultra short bond funds.

6) Sub-advisory products are only available through sub-advisory relationships with BNYM Investment Adviser, Inc.

7) 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.

8) 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 a BNY Mellon Investment Management firm and a wholly-owned subsidiary of BNY Mellon.

9) GAMA is a state-of-the-art, private label asset management account designed to consolidate all of your clients’ securities, credit balances and cash transactions with an automated daily sweep into a selection of Dreyfus money market funds or an FDIC-insured product that seeks competitive current yields. GAMA gives your clients a single account from which they can control all their payment and investment options through a variety of cash-withdrawal, transfer and deposit features. With GAMA, your firm could be the only financial institution your clients will ever need.

BNY Mellon Investment Management is one of the world’s leading investment management organizations and one of the top U.S. wealth managers, encompassing BNY Mellon’s affiliated investment management and global distribution firms and wealth management organization. Dreyfus Cash Investment Strategies is a division of BNY Mellon Investment Adviser, Inc. Dreyfus Cash Investment Strategies is a division of BNY Mellon Investment Adviser, Inc. BNY Mellon Investment Adviser, Inc. and BNY Mellon Securities Corporation are BNY Mellon Investment Management firms. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular investment, strategy, investment manager or account arrangement. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. This material does not take into account the particular investment objectives, restrictions, or financial, legal or tax situation of any specific investor. An investment in an investment product is not suitable for all investors. Please consult a legal, tax or investment advisor in order to determine whether an investment product or service is appropriate for a particular situation. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. © 2020 BNY Mellon Securities Corporation, 240 Greenwich Street, 9th Floor, New York, NY 10286.

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