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    BNY Mellon Mid Cap Multi-Strategy Fund

    Why invest in this Fund?

    The fund seeks capital appreciation.

    The fund's investment strategy provides exposure to various mid cap equity portfolio managers, investment strategies and styles. The fund's investment adviser has allocated the fund's assets among multiple investment strategies employed by the fund's investment adviser and unaffiliated sub-investment advisers known as Boston Partners Global Investors Inc. (Boston Partners), a wholly-owned subsidiary of Robeco US Holding, Inc., and Henderson Geneva Capital Management LLC (Geneva). To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of mid cap companies. The fund currently considers mid cap companies to be those companies with market capitalizations that are within the market capitalization range of companies comprising the Russell Midcap® Index, the fund's primary benchmark index. The fund may invest up to 15% of its assets in the equity securities of foreign issuers, including those in emerging market countries. The fund is designed to provide exposure to various mid cap portfolio managers, investment strategies and styles. The fund may purchase securities of companies in initial public offerings (IPOs) or shortly thereafter. The fund may also invest in publicly-traded real estate investment trusts and exchange-traded funds and similarly structured pooled investments. The fund's investment adviser determines the investment strategies and sets the target allocations and ranges. Allocations, which may be changed without shareholder approval or prior notice, include the following underlying strategies:

    1. Mid Cap Tax-Sensitive Core Strategy (Target: 30%; Range: 0% to 50%). This strategy's portfolio manager seeks to actively and opportunistically realize capital gains and/or losses as determined to be appropriate to improve the tax-sensitivity of the portfolio's investment performance. Thomas Murphy, the director of tax-managed equity at BNY Mellon Wealth Management and an employee of BNY Mellon Investment Adviser, Inc., is the primary portfolio manager of the strategy.

    2. Opportunistic Mid Cap Value Strategy (Target: 20%; Range: 0% to 30%). This strategy's portfolio manager uses an opportunistic value approach to identify stocks whose current market prices trade at a large discount to their intrinsic value. The strategy is managed by a team of portfolio managers employed by BNY Mellon Investment Adviser, Inc. and Mellon Investments Corporation.

    3. Mid Cap Growth Strategy (Target: 20%; Range: 0% to 30%). In constructing this portion of the fund's portfolio, the portfolio managers use a "growth style" of investing, searching for companies whose fundamental strengths suggest the potential to provide superior earnings growth over time. Todd W. Wakefield, CFA and Robert C. Zeuthen, CFA, and John R. Porter since March 2017, employees of both Mellon Investments Corporation and BNY Mellon Investment Adviser, Inc., are the strategy’s portfolio managers.

    4. Boston Partners Mid Cap Value Strategy (Target: 20%; Range: 0% to 30%). The portion of the fund's assets allocated to this strategy normally is invested in a diversified portfolio of mid cap stocks identified as having value characteristics. Joseph F. Feeney, Jr., CFA and Steven L. Pollack, CFA are the strategy's portfolio managers.

    5. Henderson Geneva Mid Cap Growth Strategy (Target: 10%; Range: 0% to 30%). A mid cap growth strategy. William A. Priebe, CFA, Amy S. Croen, CFA, Michelle J. Picard, CFA and William Scott Priebe are the strategy's portfolio managers.

    The fund is permitted to use a "multimanager" arrangement whereby the fund's investment adviser may select one or more sub-investment advisers to manage distinct segments of the fund's portfolio without obtaining shareholder approval.
    Class Inception Date
    07/11/01
    Fund Assets
    $1,579,662,073  As of  06/07/23
    Class Assets
    $118,958,618  As of  06/07/23
    Portfolio Turnover Rate
    22.23% As of fiscal year end  08/31/22
    Morningstar Category
    Mid-Cap Growth
    Benchmark
    Russell Midcap Index
    Morningstar Overall Rating
    Fund Holdings
    644 As of 04/30/23

    Morningstar Rating™ as of May 31, 2023 for the Investor Shares class shares; other classes may have different performance characteristics. Overall rating for the Mid-Cap Growth category. Fund ratings are out of 5 Stars: Overall 3 Stars (521 funds rated); 3 Yrs. 4 Stars (521 funds rated); 5 Yrs. 3 Stars (490 funds rated); 10 Yrs. 3 Stars (382 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.

     

    Portfolio Managers

    • John Porter

      John Porter

      CIO, Head of Equity, Newton Investment Management North America, LLC

      6 yr(s). on fund

    • Joseph F.  Feeney, Jr

      Joseph F. Feeney, Jr

      Portfolio Manager,

      10 yr(s). on fund

    • Patrick  Kent

      Patrick Kent, CFA

      Deputy Head of Equity Opportunities, Portfolio Manager, Newton Investment Management North America, LLC

      4 yr(s). on fund

    • Alicia Levine

      Alicia Levine

      Head of Equities, Capital Markets Advisory

      1 yr(s). on fund

    • Jose  Munoz

      Jose Munoz

      Portfolio Manager,

      5 yr(s). on fund

    • Thomas Murphy

      Thomas Murphy

      Portfolio Manager, Newton Investment Management North America, LLC

      10 yr(s). on fund

    • Steven L. Pollack

      Steven L. Pollack

      Portfolio Manager,

      10 yr(s). on fund

    • William A. Priebe

      William A. Priebe

      Portfolio Manager,

      10 yr(s). on fund

    • William Scott Priebe

      William Scott Priebe

      Portfolio Manager,

      10 yr(s). on fund

    • Todd Wakefield

      Todd Wakefield, CFA

      Research Analyst, Newton Investment Management North America, LLC

      10 yr(s). on fund

    • Robert Zeuthen

      Robert Zeuthen, CFA

      Research Analyst, Newton Investment Management North America, LLC

      10 yr(s). on fund

    • Andrew Leger

      Andrew Leger

      Portfolio Manager, Mellon Investments Corporation

      Since October 2022


    Total Returns

    Average Annual
    As of 05/31/23
    Name 3 MO
    05/31/23
    YTD
    05/31/23
    1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon Mid Cap Multi-Strategy Fund
    MIMSX
    -3.63 1.49 -2.86 8.68 6.40 8.93 7.80
    Russell Midcap Index
    -4.79 0.61 -4.51 10.19 6.88 9.31 -
    Average Annual
    As of 03/31/23
    Name 3 MO
    03/31/23
    YTD
    03/31/23
    1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon Mid Cap Multi-Strategy Fund
    MIMSX
    4.15 4.15 -9.38 17.79 7.54 9.56 7.99
    Russell Midcap Index
    4.06 4.06 -8.78 19.20 8.05 10.05 -

    The Russell Midcap® Index measures the performance of the mid-cap segment of the U.S. equity universe. The Russell Midcap® Index is a subset of the Russell 1000® Index. It includes approximately 800 of the smallest securities based on a combination of their market cap and current index membership. The Russell Midcap® Index represents approximately 31% of the total market capitalization of the Russell 1000 companies. The Russell Midcap® Index is constructed to provide a comprehensive and unbiased barometer for the mid-cap segment. The index is completely reconstituted annually to ensure larger stocks do not distort the performance and characteristics of the true mid-cap opportunity set. Investors cannot invest directly in any index.

    Growth of $10,000 Investment

    Historical Performance

      Yearly Total Return

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


      Prospectus Fee Table Expense Ratios

      As of  12/30/22 Fee Description Expense Ratio (%)
      Management Fee 0.75%
      Service Fee 0.25%
      Administration Fee 0.13%
      Other Expenses 0.02%
      Total Expenses 1.15%

      Portfolio Manager/Sub-Investment Adviser

      The fund's investment adviser is BNY Mellon Investment Adviser, Inc. (BNYM Investment Adviser). Alicia Levine is the fund's primary portfolio manager responsible for investment allocation decisions, a position she has held since September 2021. Ms. Levine is Head of Equities, Capital Markets Advisory and Vice Chair for BNY Mellon Wealth Management, an affiliate of BNYM Investment Adviser. She also is an employee of BNYM Investment Adviser and manages the fund in her capacity as an employee of BNYM Investment Adviser. Investment decisions for the Mid Cap Growth Strategy are made by a team of investment professionals employed by Newton Investment Management North America, LLC (Newton). The team has consisted of Todd W. Wakefield, CFA since May 2013, Robert C. Zeuthen, CFA since August 2012, John R. Porter since March 2017 and Karen Behr and Andrew Leger since September 2021. Mr. Porter is Chief Investment Officer and Head of Equity at Newton. Messrs. Wakefield and Zeuthen are research analysts at Newton. Ms. Behr and Mr. Leger are portfolio managers at Newton.

      Top Holdings

      As of 04/30/23

      Asset Allocation


          Daily Statistics

          As of 06/07/23 Name NAV Change 08/16/22  12 Month 
          High Nav
          12/28/22  12 Month 
          Low Nav
          YTD Return
          MIMSX
          $16.28
          $0.04
          0.25%
          $18.91 $15.17 5.58%

          Performance Metrics

          Overall Morningstar Rating


          MORNINGSTAR CATEGORY Mid-Cap Growth


          Morningstar Rating™ as of 05/31/23 for the Investor Shares shares; other classes may have different performance characteristics. Overall rating for the Mid-Cap Growth. Fund ratings are out of 5 Stars: Overall 3 Stars (521 funds rated); 3 Yrs. 4 Stars (521 funds rated); 5 Yrs. 3 Stars (490 funds rated); 10 Yrs. 3 Stars (382 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
            337 out of 392
          • 3 Year
            56 out of 360
          • 5 Year
            233 out of 342
          • 10 Year
            202 out of 273

          LIPPER CLASSIFICATION Mid-Cap Growth Funds


          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

          Equity funds are subject generally to market, market sector, market liquidity, issuer, and investment style risks, among other factors, to varying degrees, all of which are more fully described in the fund's prospectus.
          Midsized companies carry additional risks because their operating histories tend to be more limited, their earnings and revenues less predictable, and their share prices more volatile than those of larger, more established companies. The shares of smaller companies tend to tradeless frequently than those of larger, more established companies.
          Please refer to the prospectus for a more complete discussion of the fund's main risks.

          Risk Metrics

          As of  05/31/23  3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
          MIMSX
          18.79 -3.54 0.98 88.01 0.46

          All risk metrics are provided by Morningstar. The index used in the calculations are determined by Morningstar which may not be the funds primary benchmark. The index Morningstar used for this analysis is S&P 500® Index.



          Dividend Schedule

          Declared
          Annually
          Distributed
          Annually
          Paid
          Annually
          Fiscal Year End
          Aug 31
          Year Dividend ($) Capital Gains ($)
          2022 0.0332 2.0296
          2021 0.0000 2.8555
          2020 0.0359 1.5363
          2019 0.0000 0.5808
          2018 0.0168 1.1856
          2017 0.0057 0.7696
          2016 0.0722 0.1567
          2015 0.0000 0.6469
          2014 0.0088 0.8878
          2013 0.0259 0.6894

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

          Distributions History

          Record Date Ex-Dividend Date Payable Date 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
          12/12/22 12/13/22 12/13/22 0.0000 0.0332 0.0000 0.0000 2.0296 2.0628 15.98
          Record Date Ex-Dividend Date Payable Date 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
          12/13/21 12/14/21 12/14/21 0.0000 0.0000 0.2253 0.2014 2.4288 2.8555 -
          12/15/20 12/16/20 12/16/20 0.0000 0.0359 0.0000 0.0302 1.5061 1.5722 -
          12/17/19 12/18/19 12/18/19 0.0000 0.0000 0.0000 0.0000 0.5808 0.5808 -
          12/18/18 12/19/18 12/19/18 0.0053 0.0115 0.0786 0.1716 0.9354 1.2024 -
          12/19/17 12/20/17 12/20/17 0.0000 0.0057 0.0000 0.0453 0.7243 0.7753 -
          12/19/16 12/20/16 12/20/16 0.0000 0.0722 0.0000 0.0233 0.1334 0.2289 -
          12/11/15 12/14/15 12/14/15 0.0000 0.0000 0.0000 0.0056 0.6413 0.6469 -
          12/12/14 12/15/14 12/15/14 0.0032 0.0056 0.0712 0.1224 0.6942 0.8966 -
          12/13/13 12/16/13 12/16/13 0.0226 0.0033 0.3728 0.0550 0.2616 0.7153 -
          12/06/12 12/07/12 12/07/12 0.0000 0.0000 0.1158 0.1265 0.7210 0.9633 -
          12/07/11 12/08/11 12/08/11 0.0000 0.0173 0.0000 0.0000 0.3302 0.3475 -
          12/08/09 12/09/09 12/09/09 0.0000 0.0410 0.0000 0.0000 0.0000 0.0410 -
          03/26/09 03/27/09 03/27/09 0.0000 0.0000 0.0000 0.0000 0.0077 0.0077 -
          12/03/08 12/04/08 12/04/08 0.0000 0.0310 0.0000 0.0000 0.0100 0.0410 -
          12/05/07 12/06/07 12/06/07 0.0000 0.0000 0.1279 0.1208 2.2866 2.5353 -
          12/06/06 12/07/06 12/07/06 0.0214 0.0186 0.1800 0.1564 1.8817 2.2581 -
          03/27/06 03/28/06 03/28/06 0.0000 0.0000 0.0002 0.0000 0.0000 0.0002 -
          12/07/05 12/08/05 12/08/05 0.0000 0.0000 0.0804 0.1106 1.6310 1.8220 -
          12/09/04 12/10/04 12/10/04 0.0000 0.0100 0.0000 0.0424 0.7760 0.8284 -
          12/02/03 12/03/03 12/03/03 0.0000 0.0060 0.0000 0.0000 0.0000 0.0060 -
          12/03/02 12/04/02 12/04/02 0.0210 0.0000 0.0000 0.0000 0.0000 0.0210 -
          12/04/01 12/05/01 12/05/01 0.0110 0.0000 0.0000 0.0000 0.0000 0.0110 -
          See all rows...

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