BNY Mellon International Core Equity Fund

TICKER DIEYX
Fund Code 0231
CUSIP 09661F602
SHARE CLASS
- Class A
- Class C
- Class I
- Class Y

Why invest in this Fund?

The fund seeks long-term growth of capital. To pursue this goal, the fund normally invests at least 80% of its assets in equity securities of companies located in the foreign countries represented in the Morgan Stanley Capital Inter-national Europe, Australasia and Far East (EAFE) Index and Canada. The fund's stock investments may include common stocks, preferred stocks and convertible securities. The fund intends to invest in a broad range of countries. The fund may invest up to 20% of its assets in securities of issuers located in emerging market countries, but no more than 5% of its assets may be invested in issuers located in any one emerging market country. The fund invests in stocks that appear to be undervalued (as measured by their price/earnings ratios) and that may have value and/or growth characteristics. The portfolio managers employ a bottom-up investment approach, which emphasizes individual stock selection.

Min. class investment

$1,000,000

Class Inception Date

06/01/15

Class Status

Not available for purchase by individual investors.

Fund Assets

$621,611,801 As of 08/23/19

Class Assets

$340,697,104 As of 08/23/19

Portfolio Turnover Rate

54.84% As of fiscal year end 09/30/18

Morningstar Category

Foreign Large Blend

Benchmark

MSCI EAFE(r) Index

Morningstar Overall Rating

Fund Holdings

82 As of 07/31/19

Morningstar Rating™ as of July 31, 2019 for the Class Y class shares; other classes may have different performance characteristics. Overall rating for the Foreign Large Blend category. Fund ratings are out of 5 Stars: Overall 3 Stars (614 funds rated); 3 Yrs. 3 Stars (614 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.

Portfolio Managers

Mark A. Bogar

Portfolio Manager, Mellon Investments Corporation

9 yr(s). on fund
James A. Lydotes

Mellon Investments Corporation

4 yr(s). on fund
Andrew Leger

Portfolio Manager, Mellon Investments Corporation

4 yr(s). on fund

Performance

Average Annual Returns

Month End

As of 07/31/19 Name	1 YR	3 YRS	5 YRS	10 YRS	Since Inception	Inception Date
BNY Mellon International Core Equity Fund DIEYX	-6.13 -6.13	6.24 6.24	1.84 1.84	6.44 6.44	5.63 5.63	06/01/15
MSCI EAFE(r) Index	-2.60	6.87	2.39	5.84	-	-

Quarter End

As of 06/30/19 Name	1 YR	3 YRS	5 YRS	10 YRS	Since Inception	Inception Date
BNY Mellon International Core Equity Fund DIEYX	-1.67 -1.67	8.80 8.80	1.91 1.91	7.68 7.68	5.72 5.72	06/01/15
MSCI EAFE(r) Index	1.08	9.11	2.25	6.90	-	-

Cumulative Returns

Month End

As of 07/31/19 Name	1 YR	3 YRS	5 YRS	10 YRS	Since Inception	Inception Date
BNY Mellon International Core Equity Fund DIEYX	-6.13 -6.13	19.91 19.91	9.57 9.57	86.61 86.61	435.97 435.97	06/01/15
MSCI EAFE(r) Index	-2.60	22.05	12.54	76.33	-	-

Quarter End

As of 06/30/19 Name	1 YR	3 YRS	5 YRS	10 YRS	Since Inception	Inception Date
BNY Mellon International Core Equity Fund DIEYX	-1.67 -1.67	28.79 28.79	9.94 9.94	109.59 109.59	447.98 447.98	06/01/15
MSCI EAFE(r) Index	1.08	29.88	11.75	94.91	-	-

The MSCI EAFE Index (Europe, Australasia, Far East) is a free float-adjusted market capitalization-weighted index that is designed to measure the equity market performance of developed markets, excluding the U.S. and Canada. Investors cannot invest directly in any index.

The total return performance figures presented for Class Y shares of the fund represent the performance of the fund's Class I for periods prior to June 01, 2015, the inception date for Class Y shares, and the performance of Class Y, respectively, from that inception date. Performance reflects the applicable class' distribution/servicing fees since the inception date. Had these fees and expenses been reflected for periods prior, performance would have been different. Investors should consider, when deciding whether to purchase a particular class of shares, the investment amount, anticipated holding period and other relevant factors.

Growth of $10,000 Investment

Historical Performance

Not available for purchase by individual investors.

Yearly Total Return

Yearly

Fund	2018	2017	2016	2015
DIEYX	-16.59%	28.36%	-1.47%	1.37%

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

Fees & Expenses

Monthly Expense Ratios (Annualized)

As of 07/31/19 Fee Description	Expense Ratio (%)
Management Fee	0.79%
Other Expenses	0.17%
Total Expenses	0.96%
Expenses Reimbursed	0.11%
Net Expenses	0.85%

Prospectus Fee Table Expense Ratios

As of 02/01/19 Fee Description	Expense Ratio (%)
Management Fee	0.78%
Other Expenses	0.17%
Total Expenses	0.95%
Expenses Reimbursed	0.10%
Net Expenses	0.85%

The fund's administrator, BNY Mellon Investment Adviser, Inc., and the fund's investment adviser, Mellon Investments Corporation, have contractually agreed to waive receipt of their fees and/or assume the direct expenses of the fund so that such expenses (excluding taxes, interest, brokerage commissions, commitment fees on borrowings and extraordinary expenses) do not exceed an annual rate of 1.12% for Class A shares, 1.90% for Class C shares, .85% for Class I shares & .85% for Class Y shares. This agreement will continue in effect, with respect to each class (except Class Y shares), until the fiscal year end following such time as the expenses are equal to or less than such annual rate for the applicable class. With respect to Class Y shares, the agreement will continue until February 1, 2020, after which the expense limitation can be terminated at any time.

Portfolio

Portfolio Manager/Sub-Investment Advisor

The fund's investment adviser is Mellon Investments Corporation (Mellon). The fund's administrator is BNY Mellon Investment Adviser, Inc., an affiliate of Mellon. The fund is managed by a team of portfolio managers who are members of the Mellon Global Equity Team. The team members who are jointly and primarily responsible for managing the fund's portfolio are Mark A. Bogar, CFA, James A. Lydotes, CFA, and Andrew Leger. Mr. Bogar has been a primary portfolio manager of the fund since January 2010, and is a managing director, portfolio manager and head of the Mellon Global Equity Team. Mr. Lydotes has been a primary portfolio manager of the fund since November 2015, and is a managing director, portfolio manager and senior research analyst for the Mellon Global Equity Team. Mr. Leger has been a primary portfolio manager of the fund since November 2015, and is a director and senior research analyst for the Mellon Global Equity Team.

Top Holdings

As of 07/31/19 Holdings	% Portfolio Weight
Novartis AG	3.56
Sanofi	2.61
Sumitomo Mitsui Financial Group	2.49
Deutsche Telekom Ag	2.27
Sony	2.14
Royal Dutch Shell	2.06
Unilever	2.02
AIA Group	1.92
GlaxoSmithKline	1.88
Macquarie Group	1.84

Asset Allocation

Stats & Risks

Daily Statistics

As of 08/23/19 Name	NAV	Change	09/26/18 12 Month High Nav	01/03/19 12 Month Low Nav	YTD Return
DIEYX	$35.99	-$0.31 -0.85%	$41.21	$32.98	7.56%

Performance Metrics

Overall Morningstar Rating

MORNINGSTAR CATEGORY Foreign Large Blend

Morningstar Rating™ as of 07/31/19 for the Class Y shares; other classes may have different performance characteristics. Overall rating for the Foreign Large Blend. Fund ratings are out of 5 Stars: Overall 3 Stars (1467 funds rated); 3 Yrs. 3 Stars (614 funds rated); 5 Yrs. Stars (489 funds rated); 10 Yrs. Stars (364 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. © 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.

Lipper Rankings

1 Year
259 out of 404
3 Year
142 out of 352
5 Year
out of
10 Year
out of

LIPPER CLASSIFICATION International Multi-Cap Core

Lipper Category returns and rankings are calculated by Lipper Inc., a Reuters Company, which is a nationally recognized organization that compares the performance of mutual funds with similar investment objectives. The Category returns represent the average performance of included funds, while rankings compare an individual fund's returns to those of the other funds in its category. Both are based on total return performance, with capital gains and dividends reinvested, with annual operating expenses deducted, but without including front or back-end sales charges. Rankings begin with the actual share class inception. Rankings are relative to a peer group and do not necessarily mean that the fund had high total returns. Rankings do not reflect sales loads

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 07/31/19, 3-Year Trailing	Standard Deviation	Alpha	Beta	R-Squared	Sharpe Ratio
DIEYX	12.19	-1.20	1.07	96.08	0.43

Distributions

Dividend Schedule

Declared

Annually

Distributed

Annually

Paid

Annually

Fiscal Year End

Sep 30

Year	Dividend ($)	Capital Gains ($)
2018	0.7663	0.0000
2017	0.6752	0.0000
2016	0.5895	0.0000
2015	0.3530	0.0000

There is no guarantee that the fund will distribute any level annually. Capital gains may be short-term, long-term, or both.

(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
DIEYX	0.0000	0.7663	0.0000	0.0000	0.0000	0.7663	33.19

	Record Date	Ex-Dividend Date	Payable Date
DIEYX	12/24/18	12/26/18	12/26/18

(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
DIEYX	Final	0.0000	0.7663	0.0000	0.0000	0.0000	0.7663	33.19

	Record Date	Ex-Dividend Date	Payable Date
DIEYX	12/24/18	12/26/18	12/26/18

Literature

Solutions for

BNY Mellon International Core Equity Fund