BNY Mellon Tax Managed Growth Fund

Why invest in this Fund?

The fund seeks long-term capital appreciation consistent with minimizing realized capital gains. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in common stocks and employs a tax-managed strategy. The fund focuses on 'blue-chip' companies with market capitalizations exceeding $5 billion at the time of purchase, including multinational companies.

The fund employs a 'buy-and-hold' investment strategy, which generally has resulted in an annual portfolio turnover of below 15%.

Min. class investment
$1,000
Class Inception Date
11/04/97
Fund Assets
$111,836,270  As of  12/05/19
Class Assets
$12,297,739  As of  12/05/19
Portfolio Turnover Rate
5.63%  As of fiscal year end  10/31/18
Morningstar Category
Large Blend
Benchmark
S&P 500(r) Index
Fund Holdings
42  As of  10/31/19

Morningstar Rating™ as of October 31, 2019 for the Class C class shares; other classes may have different performance characteristics. Overall rating for the Large Blend category. Fund ratings are out of 5 Stars: Overall 2 Stars (1198 funds rated); 3 Yrs. 3 Stars (1198 funds rated); 5 Yrs. 2 Stars (1058 funds rated); 10 Yrs. 2 Stars (801 funds rated). The Morningstar Rating™ for funds, or "star rating", is calculated for managed products with at least a 3-year history. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance (not including the effects of sales charges, loads and redemption fees if applicable), placing more emphasis on downward variations and rewarding consistent performance. Managed products; including open-end mutual funds, closed-end funds and exchange-traded funds; are considered a single population for comparative purposes. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics. ©2018 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. The fund represents a single portfolio with multiple share classes that have different expense structures. Other share classes may have achieved different results.


Click here to see SALES CHARGE  Max Sales Charge:  1.00% CDSC Load
As of  11/30/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Tax Managed Growth Fund
DPTAX
18.00 14.96 8.15 9.95 5.53 11/04/97
As of  09/30/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Tax Managed Growth Fund
DPTAX
7.57 12.56 7.67 10.01 5.31 11/04/97
S&P 500(r) Index
4.25 13.39 10.84 13.24 - -
Click here to see SALES CHARGE  Max Sales Charge:  1.00% CDSC Load
As of  11/30/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Tax Managed Growth Fund
DPTAX
18.00 51.94 47.93 158.23 227.80 11/04/97
As of  09/30/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Tax Managed Growth Fund
DPTAX
7.57 42.62 44.73 159.70 210.58 11/04/97
S&P 500(r) Index
4.25 45.80 67.27 246.74 - -
The S&P 500® Index is widely regarded as the best single gauge of large-cap U.S. equities. The index includes 500 leading companies and captures approximately 80% coverage of available market capitalization.

Average Annual Returns After Taxes

As of  09/30/19 1 YR 5 YRS 10 YRS
Return after taxes on distributions 3.94% 6.42% 9.29%
Return after taxes on distributions and sale of fund shares 5.34% 5.80% 8.14%

Growth of $10,000 Investment

Historical Performance

    These figures do not reflect the maximum sales charge which, if included, would reduce return.

    Yearly Total Return

    Fund 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
    DPTAX
    -7.98% 24.53% 5.22% -3.71% 6.70% 19.94% 7.73% 8.38% 14.73% 19.46%

    Investment return fluctuates and past performance is no guarantee of future results.


    Redemption Charge

    As of  12/06/19  Redemption Year CDSC
    Year 1 1.00
    Class C shares are subject to a contingent deferred sales charge (CDSC) imposed on Class C shares redeemed within one year of purchase.

    Prospectus Fee Table Expense Ratios

    As of  03/01/19 Fee Description Expense Ratio (%)
    Management Fee 0.95%
    12B-1 Fee 0.75%
    Service Fee 0.25%
    Other Expenses 0.01%
    Total Expenses 1.96%
    Expenses Reimbursed 0.01%
    Net Expenses 1.95%
    The fund's investment adviser, BNY Mellon Investment Adviser, Inc., has agreed in its investment management agreement with the fund to: (1) pay all of the fund's expenses, except management fees, Rule 12b-1 fees and certain other expenses, including the fees and expenses of the non-interested board members and their counsel, and (2) reduce its fees pursuant to the investment management agreement in an amount equal to the fund's allocable portion of the fees and expenses of the non-interested board members and their counsel (in the amount of .01% for the past fiscal year). These provisions in the investment management agreement may not be amended without the approval of the fund's shareholders.

    Portfolio Manager/Sub-Investment Advisor

    BNY Mellon Investment Adviser, Inc., the fund's investment adviser, has engaged Fayez Sarofim & Co. ("Sarofim & Co."), to serve as the fund's sub-investment adviser. Sarofim & Co., subject to BNY Mellon Investment Adviser, Inc.'s supervision and approval, provides investment advisory assistance, research and the day-to-day management of the fund's investments. The fund is managed by a team of portfolio managers employed by Sarofim & Co., consisting of Fayez Sarofim, Catherine Crain, Gentry Lee, Christopher Sarofim and Charles Sheedy. The team is supported by Sarofim & Co.'s Investment Committee, all the members of which are senior investment professionals at Sarofim & Co. Mr. Fayez Sarofim, Co-Chief Investment Officer and Chairman of the Board, founded Sarofim & Co. in 1958 and has been a portfolio manager of the fund since 1990.

    Top Holdings

    As of  10/31/19   Holdings % Portfolio  Weight
    Microsoft 7.70
    Apple 6.44
    Facebook, Cl. A 5.44
    Alphabet, Cl. C 4.66
    JPMorgan Chase & Co. 4.26
    Estee Lauder, Cl. A 4.00
    Visa, Cl. A 3.96
    Texas Instruments 3.90
    Coca-Cola 2.97
    Comcast, Cl. A 2.89

    Asset Allocation


        Daily Statistics

        As of  12/05/19 Name NAV Change 11/27/19  12 Month 
        High Nav
        01/03/19  12 Month 
        Low Nav
        YTD Return
        DPTAX
        $29.43
        $0.08
        0.27%
        $29.62 $22.25 29.12%

        Main Risks

        Equities are subject to market, market sector, market liquidity, issuer, and investment style risks to varying degrees.

        Investing in foreign denominated and/or domiciled securities involves special risks, including changes in currency exchange rates, political, economic, and social instability, limited company information, differing auditing and legal standards, and less market liquidity. These risks generally are greater with emerging market countries.

        Risk Metrics

        As of  10/31/19, 3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
        DPTAX
        11.20 0.29 0.89 92.34 1.06

        Dividend Schedule

        Declared
        Qtry (May, Aug, Nov, Dec)
        Distributed
        Qtry (May, Aug, Nov, Dec)
        Paid
        Qtry (May, Aug, Nov, Dec)
        Fiscal Year End
        Oct 31
        Year Dividend ($) Capital Gains ($)
        2019 0.0323 0.0000
        2018 0.0870 2.7081
        2017 0.0321 1.3528
        2016 0.0888 0.0118
        2015 0.1168 1.3170
        2014 0.1160 0.6614
        2013 0.1757 0.0000
        2012 0.1340 0.0000
        2011 0.1110 0.0000
        2010 0.1190 0.0000
        There is no guarantee that the fund will distribute any level annually. Capital gains may be short-term, long-term, or both.

        Distributions History

        (Values Listed In $) Ordinary 
        Non-Qualified 
        Dividends
        Qualified 
        Dividends
        Non-Qualified 
        Short-Term 
        Capital Gain
        Qualified 
        Short-Term 
        Capital Gain
        Long-Term 
        Capital Gain
        Total 
        Distribution
        Reinvest 
        NAV
        DPTAX
        0.0000 0.0161 0.0000 0.0000 0.0000 0.0161 27.61
        Record Date Ex-Dividend Date Payable Date
        DPTAX
        08/01/19 08/02/19 08/02/19
        (Values Listed In $) Distribution Status Ordinary 
        Non-Qualified 
        Dividends
        Qualified 
        Dividends
        Non-Qualified 
        Short-Term 
        Capital Gain
        Qualified 
        Short-Term 
        Capital Gain
        Long-Term 
        Capital Gain
        Total 
        Distribution
        Reinvest 
        NAV
        DPTAX
        Estimated 0.0000 0.0000 0.0000 0.0000 1.3326 1.3326 -
        Record Date Ex-Dividend Date Payable Date
        DPTAX
        12/06/19 12/09/19 12/09/19