BNY Mellon Developed Markets Real Estate Securities Fund

    Overview

    Why invest in this Fund?

    The fund seeks to maximize total return consisting of capital appreciation and current income. To pursue this goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in publicly-traded equity securities of companies principally engaged in the real estate sector. The fund normally invests in a global portfolio of equity securities of real estate companies, including REITs and real estate operating companies, with principal places of business located in, but not limited to, the developed markets of Europe, Australia, Asia and North America (including the United States).
    Min. Class Investment
    $1,000
    Class Inception Date
    12/29/06
    Class Status
    Not available for purchase by individual investors.
    Fund Assets
    $337,922,270  As of  09/13/24
    Class Assets
    $48,999,213  As of  09/13/24
    Portfolio Turnover Rate
    54.85% As of fiscal year end  10/31/23
    Morningstar Category
    Global Real Estate
    Benchmark
    FTSE EPRA/NAREIT Developed Index (Net)
    Morningstar Overall Rating
    Fund Holdings
    101 As of 08/31/24

    Morningstar Rating™ as of August 31, 2024 for the Class I class shares; other classes may have different performance characteristics. Overall rating for the Global Real Estate category. Fund ratings are out of 5 Stars: Overall 4 Stars (178 funds rated); 3 Yrs. 5 Stars (178 funds rated); 5 Yrs. 4 Stars (172 funds rated); 10 Yrs. 4 Stars (118 funds rated).

    Portfolio Managers

    • Dean Frankel

      Dean Frankel

      Global Co-Head, Real Estate Securities, CenterSquare

      Managing Fund Since 2006

      Joined Firm in 1998

      Joined Industry in 1998
    • Todd E. Briddell

      Todd E. Briddell

      Portfolio Manager,

      Managing Fund Since 2013

      Joined Firm in 1993

      Joined Industry in 1991
    Performance

    Total Returns

    Month End

    Average Annual
    As of 08/31/24
    Name 3 MO
    08/31/24     		YTD
    08/31/24     		1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon Developed Markets Real Estate Securities Fund
    DRLIX
    		13.58 10.30 20.03 -0.55 4.12 5.03 3.80
    FTSE EPRA/NAREIT Developed Index (Net)
    		13.06 8.50 17.45 -2.56 1.26 3.09 -

    Quarter End

    Average Annual
    As of 06/30/24
    Name 3 MO
    06/30/24     		YTD
    06/30/24     		1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon Developed Markets Real Estate Securities Fund
    DRLIX
    		-1.65 -2.89 6.24 -2.96 2.07 3.89 3.08
    FTSE EPRA/NAREIT Developed Index (Net)
    		-2.44 -3.70 4.54 -4.77 -0.69 2.04 -

    The performance data quotes represents past performance, which is no guarantee of future results. Yield, share price and investment return fluctuate and an investor's shares may be worth more or less than original cost upon redemption. Current performance may be lower or higher than the performance quoted. Click above for month-end returns.

    Reflects reinvestment of net dividends and, where applicable, capital gain distributions. The FTSE EPRA/NAREIT Developed Index (Net) is designed to track the performance of listed real estate companies and REITs worldwide. Investors cannot invest directly in any index.

    Growth of $10,000 Investment

    Past performance is no guarantee of future results.

    Historical Performance

      Not available for purchase by individual investors.

       

      Past performance is no guarantee of future results.

      Yearly Total Return

      Yearly

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

      Fees & Expenses

      Prospectus Fee Table Expense Ratios

      As of  03/01/24 Fee Description Expense Ratio (%)
      Management Fee 0.95%
      Other Expenses 0.20%
      Total Expenses 1.15%
      Expenses Reimbursed 0.09%
      Net Expenses 1.06%
      Total Expenses is the total annual operating expense ratio for the fund, before any fee waivers or expense reimbursements. Net Expenses is the total annual operating expense ratio for the fund, after any applicable fee waivers or expense reimbursements. The Total Expenses, or Net Expenses (if including fee waivers or expense reimbursements) is the actual fund expense ratio applicable to investors.
      The fund's investment adviser, BNY Mellon Investment Adviser, Inc., has contractually agreed, until March 1, 2025, to waive receipt of its fees and/or assume the direct expenses of the fund so that the direct expenses of none of the fund's share classes (excluding Rule 12b-1 fees, shareholder services fees, taxes, interest expense, brokerage commissions, commitment fees on borrowings and extraordinary expenses) exceed 1.05%. On or after March 1, 2025, BNY Mellon Investment Adviser, Inc. may terminate this expense limitation agreement at any time.
      Portfolio

      Portfolio Manager/Sub-Investment Adviser

      The fund's investment adviser is BNY Mellon Investment Adviser, Inc. The fund's sub-investment adviser is CenterSquare. E. Todd Briddell and Dean Frankel are the fund's primary portfolio managers, positions they have held since June 2013 and December 2006, respectively. Mr. Briddell is the Chief Executive Officer and Chief Investment Officer of CenterSquare. Mr. Frankel is a senior portfolio manager for CenterSquare.

      Top Holdings

      Download Total Holdings
      As of 08/31/24

      Asset Allocation

          Stats & Risks

          Daily Statistics

          As of 09/13/24 Name NAV Change 09/13/24  12 Month 
          High Nav           		10/25/23  12 Month 
          Low Nav           		YTD Return
          DRLIX
          		$9.09
          $0.08
          0.89%
          		$9.09 $6.57 14.20%

          Performance Metrics

          Overall Morningstar Rating

          MORNINGSTAR CATEGORY Global Real Estate

          Morningstar Rating™ as of 08/31/24 for the Class I shares; other classes may have different performance characteristics. Overall rating for the Global Real Estate. Fund ratings are out of 5 Stars: Overall 4 Stars (178 funds rated); 3 Yrs. 5 Stars (178 funds rated); 5 Yrs. 4 Stars (172 funds rated); 10 Yrs. 4 Stars (118 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
            34 out of 163
          • 3 Year
            17 out of 152
          • 5 Year
            19 out of 146
          • 10 Year
            19 out of 95

          LIPPER CLASSIFICATION Global Real Estate Funds

          Lipper Category returns and rankings as of 08/31/24, 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.
          Risks of investing in real estate securities are similar to those associated with direct investments in real estate, including falling property values due to increasing vacancies or declining rents resulting from economic, legal, political or technological developments, lack of liquidity, limited diversification and sensitivity to certain economic factors such as interest rate changes and market recessions.
          Real estate investment trusts are subject to risk, such as poor performance by the manager, adverse changes to tax laws or failure to qualify for tax-free pass-through of income.

          Risk Metrics

          As of  08/31/24  3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
          DRLIX
          		20.86 -5.83 1.12 80.18 -0.10

          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 MSCI ACWI Index.


          Alpha - Alpha is a measure of a security's or portfolio's excess return.

          Beta - Beta is a measure of a security’s or portfolio’s volatility, or systematic risk.

          R-Squared - R-squared is a statistical measure that represents the percentage of a fund’s or security’s movements that are explained by movements in a benchmark index.

          Sharpe Ratio - Sharpe ratio is a risk-adjusted measure that measures reward per unit of risk. The higher the Sharpe ratio, the better.

          Standard Deviation - Standard deviation is a statistical measure of the degree to which an individual portfolio return tends to vary from the mean, based on the entire population. The greater the degree of dispersion, the greater the degree of risk. In mutual funds, the standard deviation tells us how much the return on the fund is deviating from the expected normal returns.

          Distributions

          Dividend Schedule

          Declared
          Annually
          Distributed
          Annually
          Paid
          Annually
          Fiscal Year End
          Oct 31
          Annualized Distribution Rate
          %
          As of 
          Year Dividend ($) Capital Gains ($)
          2023 0.2219 0.0000
          2022 0.1429 0.4153
          2021 0.3294 0.5125
          2020 0.0924 0.0360
          2019 0.3959 0.6170
          2018 0.2179 0.1620
          2017 0.2412 0.1837
          2016 0.3966 0.0897
          2015 0.2070 0.2566
          2014 0.2350 0.0411

          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
          12/22/23 12/26/23 12/26/23 0.1355 0.0864 0.0000 0.0000 0.0000 0.2219
          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
          12/23/22 12/27/22 12/27/22 0.0263 0.1166 0.0000 0.0000 0.4153 0.5582
          12/27/21 12/28/21 12/28/21 0.2239 0.1055 0.0335 0.0158 0.4632 0.8419
          12/24/20 12/28/20 12/28/20 0.0221 0.0703 0.0000 0.0000 0.0000 0.0924
          03/23/20 03/24/20 03/24/20 0.0000 0.0000 0.0057 0.0000 0.0303 0.0360
          12/24/19 12/26/19 12/26/19 0.3072 0.0887 0.0721 0.0208 0.4892 0.9780
          03/18/19 03/19/19 03/19/19 0.0000 0.0000 0.0036 0.0000 0.0313 0.0349
          12/24/18 12/26/18 12/26/18 0.1746 0.0433 0.0158 0.0039 0.1099 0.3475
          03/19/18 03/20/18 03/20/18 0.0000 0.0000 0.0000 0.0000 0.0324 0.0324
          12/22/17 12/26/17 12/26/17 0.1264 0.1148 0.0000 0.0000 0.1360 0.3772
          03/20/17 03/21/17 03/21/17 0.0000 0.0000 0.0025 0.0000 0.0452 0.0477
          12/23/16 12/27/16 12/27/16 0.3412 0.0554 0.0527 0.0086 0.0284 0.4863
          12/24/15 12/28/15 12/28/15 0.1586 0.0484 0.0078 0.0024 0.2464 0.4636
          12/24/14 12/26/14 12/26/14 0.1878 0.0472 0.0000 0.0000 0.0411 0.2761
          12/24/13 12/26/13 12/26/13 0.2198 0.0168 0.0000 0.0000 0.0000 0.2366
          03/27/13 03/28/13 03/28/13 0.0303 0.0000 0.0000 0.0000 0.0000 0.0303
          12/24/12 12/26/12 12/26/12 0.4000 0.0340 0.0000 0.0000 0.0000 0.4340
          12/23/11 12/27/11 12/27/11 0.1083 0.0357 0.0000 0.0000 0.0000 0.1440
          03/30/11 03/31/11 03/31/11 0.0444 0.0000 0.0000 0.0000 0.0000 0.0444
          12/23/10 12/27/10 12/27/10 0.2551 0.0256 0.0000 0.0000 0.0000 0.2807
          03/30/10 03/31/10 03/31/10 0.0335 0.0000 0.0000 0.0000 0.0000 0.0335
          12/28/09 12/29/09 12/29/09 0.3187 0.0333 0.0000 0.0000 0.0000 0.3520
          03/30/09 03/31/09 03/31/09 0.0195 0.0000 0.0000 0.0000 0.0000 0.0195
          12/26/08 12/29/08 12/29/08 0.0431 0.0089 0.0000 0.0000 0.0000 0.0520
          09/10/08 09/11/08 09/11/08 0.0088 0.0000 0.0000 0.0000 0.0000 0.0088
          06/19/08 06/20/08 06/20/08 0.0328 0.0000 0.0000 0.0000 0.0000 0.0328
          03/19/08 03/20/08 03/20/08 0.0301 0.0000 0.0000 0.0000 0.0000 0.0301
          12/20/07 12/21/07 12/21/07 0.1049 0.0000 0.0000 0.0000 0.0000 0.1049
          09/19/07 09/20/07 09/20/07 0.0473 0.0000 0.0000 0.0000 0.0000 0.0473
          06/19/07 06/20/07 06/20/07 0.0189 0.0000 0.0000 0.0000 0.0000 0.0189
          03/20/07 03/21/07 03/21/07 0.0135 0.0000 0.0000 0.0000 0.0000 0.0135
          See all rows...
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