BNY Mellon Absolute Insight Multi-Strategy Fund

Why invest in this Fund?

The BNY Mellon Absolute Insight Multi-Strategy Fund follows a multi-strategy approach by investing in absolute return strategies that have historically exhibited a low correlation to each other, each managed by a specialist team across a different investment universe. This approach gains access to a large number of uncorrelated investment ideas in seeking to achieve a high level of built in diversification. The strategies are combined with an aim of giving the portfolio stability, diversification and upside-capture.

Min. class investment
$1,000
Class Inception Date
12/04/15
Fund Assets
$166,826,302  As of  05/24/19
Class Assets
$23,568  As of  05/24/19
Portfolio Turnover Rate
291.84%  As of fiscal year end  10/31/18
Morningstar Category
Multialternative

Morningstar Rating™ as of April 30, 2019 for the Class C class shares; other classes may have different performance characteristics. Overall rating for the Multialternative category. Fund ratings are out of 5 Stars: Overall 1 Stars (278 funds rated); 3 Yrs. 1 Stars (278 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  04/30/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Absolute Insight Multi-Strategy Fund
MAJCX
-3.58 -1.16 - - -1.28 12/04/15
As of  03/31/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Absolute Insight Multi-Strategy Fund
MAJCX
-4.77 -1.16 - - -1.34 12/04/15
Click here to see SALES CHARGE  Max Sales Charge:  1.00% CDSC Load
As of  04/30/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Absolute Insight Multi-Strategy Fund
MAJCX
-3.58 -3.44 - - -4.28 12/04/15
As of  03/31/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Absolute Insight Multi-Strategy Fund
MAJCX
-3.82 -3.44 - - -4.37 12/04/15

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
    MAJCX
    -3.99% 1.13% -1.84%

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

    -

    Monthly Expense Ratios (Annualized)

    As of  04/30/19 Fee Description Expense Ratio (%)
    Management Fee 1.25%
    12B-1 Fee 0.75%
    Service Fee 0.25%
    Other Expenses 0.29%
    Total Expenses 2.54%
    Expenses Reimbursed 0.04%
    Net Expenses 2.50%

    Redemption Charge

    As of  05/26/19  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 1.25%
    12B-1 Fee 0.75%
    Service Fee 0.25%
    Other Expenses 0.26%
    Acquired Fund Fees & Expenses 0.02%
    Total Expenses 2.53%
    Expenses Reimbursed 0.01%
    Net Expenses 2.52%
    The fund's investment adviser, The Dreyfus Corporation, has contractually agreed, until March 1, 2020, to waive receipt of its fees and/or assume the direct expenses of the fund so that the direct expenses of none of the classes (excluding Rule 12b-1 fees, shareholder services fees, taxes, interest, brokerage commissions, commitment fees on borrowings and extraordinary expenses) exceed 1.50%. On or after March 1, 2020, The Dreyfus Corporation may terminate this expense limitation at this time.

    Portfolio Manager/Sub-Investment Advisor

    The fund's investment adviser is The Dreyfus Corporation, and the fund's sub-adviser is Insight Investment International Limited, an affiliate of Dreyfus and a subsidiary of Insight Investment Management Limited. Investment allocation decisions for the fund have been made since the fund's inception by the sub-adviser's Absolute Return Investment Committee. Sonja Lami, portfolio Manager – Specialist Investments, is the member of the ARIC with day-to-day responsibility for investment allocation decisions since the fund's inception. In addition, the primary portfolio manager responsible for the equity market neutral and absolute return equity strategies is Andrew Cawker, Portfolio Manager – Head of Specialist Equities, for the absolute return emerging market strategy is Colm McDonagh, Head of Emerging Markets Debt, for the absolute return credit strategy is Lucy Speake, Head of European Fixed Income, for the absolute return dynamic opportunities strategy is Matthew Merritt – Head of Multi-Asset Strategy Team, and for the currency strategy is Richard Nibloe, Head of Currency – Fixed-Income. Ms. Lami and Messrs. Cawker and McDonagh have served as primary portfolio managers of the fund since the fund's inception in December 2015, Ms. Speake and Mr. Merritt have served as primary portfolio managers of the fund since November 2017, and Mr. Nibloe has served as a primary portfolio manager of the fund since March 2019

    Daily Statistics

    As of  05/24/19 Name NAV Change 06/07/18  12 Month 
    High Nav
    12/27/18  12 Month 
    Low Nav
    YTD Return
    MAJCX
    $11.78
    -$0.01
    -0.08%
    $12.33 $11.71 0.26%

    Main Risks

    Bonds are subject to interest rate, credit, liquidity, call and market risks, to varying degrees. Generally, all other factors being equal, bond prices are inversely related to interest-rate changes and rate increases can cause price declines.

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

    Currencies are subject to the risk that those currencies will decline in value relative to a local currency, or, in the case of hedged positions, that the local currency will decline relative to the currency being hedged.

    Each of these risks could increase the fund's volatility. 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. The use of derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in the underlying assets.

    Derivatives can be highly volatile, illiquid, and difficult to value and there is the risk that changes in the value of a derivative held by the portfolio will not correlate with the underlying instruments or the portfolio's other investments.

    Short sales involve selling a security the portfolio does not own in anticipation that the security's price will decline. Short sales may involve risk and leverage, and expose the portfolio to the risk that it will be required to buy the security sold short at a time when the security has appreciated in value, thus resulting in a loss.

    Risk Metrics

    As of  04/30/19, 3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
    MAJCX
    1.41 -3.66 0.17 50.56 -1.70

    Dividend Schedule

    Declared
    Annually
    Distributed
    Annually
    Paid
    Annually
    Fiscal Year End
    Oct 31
    Year Dividend ($) Capital Gains ($)
    2018 0.1355 0.0000
    2017 0.0000 0.0290
    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
    MAJCX
    0.1341 0.0014 0.0000 0.0000 0.0000 0.1355 11.71
    Record Date Ex-Dividend Date Payable Date
    MAJCX
    12/26/18 12/27/18 12/27/18
    (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
    MAJCX
    Final 0.1341 0.0014 0.0000 0.0000 0.0000 0.1355 11.71
    Record Date Ex-Dividend Date Payable Date
    MAJCX
    12/26/18 12/27/18 12/27/18