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    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
    05/14/04
    Class Status
    Not available for purchase by individual investors.
    Fund Assets
    $135,590,047  As of  04/15/24
    Class Assets
    $29,091,359  As of  04/15/24
    Portfolio Turnover Rate
    1.73% As of fiscal year end  10/31/23
    Morningstar Category
    Large Growth
    Benchmark
    S&P 500® Index
    Morningstar Overall Rating
    Fund Holdings
    49 As of 03/31/24

    Morningstar Rating™ as of March 31, 2024 for the Class I class shares; other classes may have different performance characteristics. Overall rating for the Large Growth category. Fund ratings are out of 5 Stars: Overall 3 Stars (1111 funds rated); 3 Yrs. 3 Stars (1111 funds rated); 5 Yrs. 3 Stars (1037 funds rated); 10 Yrs. 2 Stars (807 funds rated).

    Portfolio Managers

    • Alan R.  Christensen

      Alan R. Christensen, CFA

      Portfolio Manager,

      Managing Fund Since 2020

      Joined Firm in 2005

      Joined Industry in 1995

    • Catherine Crain

      Catherine Crain, CFA

      Portfolio Manager,

      Managing Fund Since 2000

      Joined Firm in 1993

      Joined Industry in 1989

    • Gentry Lee

      Gentry Lee, CFA

      Chief Executive Officer and Chief Investment Officer,

      Managing Fund Since 2010

      Joined Firm in 1998

      Joined Industry in 1994

    • Christopher  Sarofim

      Christopher Sarofim

      Portfolio Manager,

      Managing Fund Since 1997

      Joined Firm in 1988

      Joined Industry in 1986

    • Charles E. Sheedy

      Charles E. Sheedy, CFA

      Portfolio Manager,

      Managing Fund Since 2000

      Joined Firm in 1971

      Joined Industry in 1971


    Total Returns

    Average Annual
    As of 03/31/24
    Name 3 MO
    03/31/24
    YTD
    03/31/24
    1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon Tax Managed Growth Fund
    DPTRX
    6.58 6.58 21.00 8.70 14.44 11.29 7.59
    S&P 500® Index
    10.56 10.56 29.88 11.49 15.05 12.96 -
    Average Annual
    As of 03/31/24
    Name 3 MO
    03/31/24
    YTD
    03/31/24
    1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon Tax Managed Growth Fund
    DPTRX
    6.58 6.58 21.00 8.70 14.44 11.29 7.59
    S&P 500® Index
    10.56 10.56 29.88 11.49 15.05 12.96 -

    % Portfolio Weight is calculated using the closing market price of each security from the prior business day.

    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.

    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. Investors cannot invest directly in any index.

    The total return performance figures presented for Class I shares of the fund represent the performance of the fund's Class A for periods prior to May 14, 2004, the inception date for Class I shares, and the performance of Class I, 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

    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

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


      Prospectus Fee Table Expense Ratios

      As of  03/01/24 Fee Description Expense Ratio (%)
      Management Fee 0.95%
      Other Expenses 0.01%
      Total Expenses 0.96%
      Expenses Reimbursed 0.11%
      Net Expenses 0.85%
      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 agreed in its investment management agreement with the fund to: (1) pay all of the fund's direct 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. In addition, BNY Mellon Investment Adviser, Inc. has contractually agreed to waive a portion of the fund's management fee in the amount of .10% of the fund's average daily net assets until March 1, 2025. On or after March 1, 2025, BNY Mellon Investment Adviser, Inc. may terminate this waiver agreement at any time.

      Portfolio Manager/Sub-Investment Adviser

      The fund's investment adviser is BNY Mellon Investment Adviser, Inc., and the fund's sub-investment adviser is Fayez Sarofim & Co. (Sarofim & Co.). The fund is managed by a team of portfolio managers employed by Sarofim & Co., consisting of Alan R. Christensen, CFA, Catherine Crain, CFA, Gentry Lee, CFA; Christopher Sarofim and Charles Sheedy, CFA. The team is supported by Sarofim & Co.'s Investment Committee, all the members of which are senior investment professionals at Sarofim & Co. The team members hold the following positions at Sarofim & Co.: Mr. Sarofim is Chairman, Mr. Christensen is the President and Head of Investment Risk, Mr. Lee is Chief Executive Officer and Chief Investment Officer, Mr. Sheedy is a Senior Vice President and Ms. Crain is a Vice President and Director of Marketing and Client Services. Mr. Sarofim has been a portfolio manager of the fund since its inception in September 1998. Mr. Sheedy and Ms. Crain have been portfolio managers of the fund since October 2000. Mr. Lee has been a portfolio manager of the fund since November 2010. Mr. Christensen has been a portfolio manager of the fund since March 2020.

      Top Holdings

      As of 03/31/24

      Asset Allocation


          Daily Statistics

          As of 04/15/24 Name NAV Change 03/21/24  12 Month 
          High Nav
          10/27/23  12 Month 
          Low Nav
          YTD Return
          DPTRX
          $38.87
          -$0.37
          -0.94%
          $40.10 $35.37 3.52%

          Performance Metrics

          Overall Morningstar Rating


          MORNINGSTAR CATEGORY Large Growth


          Morningstar Rating™ as of 03/31/24 for the Class I shares; other classes may have different performance characteristics. Overall rating for the Large Growth. Fund ratings are out of 5 Stars: Overall 3 Stars (1111 funds rated); 3 Yrs. 3 Stars (1111 funds rated); 5 Yrs. 3 Stars (1037 funds rated); 10 Yrs. 2 Stars (807 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
            603 out of 666
          • 3 Year
            519 out of 612
          • 5 Year
            240 out of 554
          • 10 Year
            310 out of 428

          LIPPER CLASSIFICATION Large-Cap Core Funds


          Lipper Category returns and rankings as of 03/31/24, 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 currencyexchange 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  03/31/24  3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
          DPTRX
          17.88 -2.43 0.99 95.19 0.39

          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.


          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.


          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 ($) Capital Gains ($)
          2023 0.2386 2.5280
          2022 0.1520 2.5420
          2021 0.0960 1.7165
          2020 0.2092 2.2815
          2019 0.3143 1.3434
          2018 0.3708 2.7081
          2017 0.2994 1.3528
          2016 0.3174 0.0118
          2015 0.3631 1.3170
          2014 0.3631 0.6614

          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
          12/06/23 12/07/23 12/07/23 0.0000 0.0640 0.0000 0.0000 2.5280 2.5920
          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
          11/01/23 11/02/23 11/02/23 - 0.0511 - 0.0000 0.0000 0.0511
          08/01/23 08/02/23 08/02/23 - 0.0590 - 0.0000 0.0000 0.0590
          05/01/23 05/02/23 05/02/23 - 0.0645 - 0.0000 0.0000 0.0645
          12/06/22 12/07/22 12/07/22 0.0000 0.0595 0.0000 0.0000 2.5420 2.6015
          11/01/22 11/02/22 11/02/22 - 0.0484 - 0.0000 0.0000 0.0484
          08/01/22 08/02/22 08/02/22 - 0.0441 - 0.0000 0.0000 0.0441
          12/06/21 12/07/21 12/07/21 0.0000 0.0000 0.0000 0.0000 1.7165 1.7165
          08/02/21 08/03/21 08/03/21 - 0.0265 - 0.0000 0.0000 0.0265
          05/03/21 05/04/21 05/04/21 - 0.0695 - 0.0000 0.0000 0.0695
          12/04/20 12/07/20 12/07/20 0.0000 0.0293 0.0000 0.0018 2.2797 2.3108
          11/02/20 11/03/20 11/03/20 - 0.0288 - 0.0000 0.0000 0.0288
          08/03/20 08/04/20 08/04/20 0.0000 0.0635 0.0000 0.0000 0.0000 0.0635
          05/01/20 05/04/20 05/04/20 0.0000 0.0876 0.0000 0.0000 0.0000 0.0876
          12/06/19 12/09/19 12/09/19 0.0000 0.0877 0.0000 0.0000 1.3434 1.4311
          11/01/19 11/04/19 11/04/19 0.0000 0.0607 0.0000 0.0000 0.0000 0.0607
          08/01/19 08/02/19 08/02/19 0.0000 0.0879 0.0000 0.0000 0.0000 0.0879
          05/01/19 05/02/19 05/02/19 0.0000 0.0780 0.0000 0.0000 0.0000 0.0780
          12/07/18 12/10/18 12/10/18 0.0000 0.1120 0.0000 0.0126 2.6955 2.8201
          11/01/18 11/02/18 11/02/18 0.0000 0.0925 0.0000 0.0000 0.0000 0.0925
          08/01/18 08/02/18 08/02/18 0.0000 0.0819 0.0000 0.0000 0.0000 0.0819
          05/01/18 05/02/18 05/02/18 0.0000 0.0844 0.0000 0.0000 0.0000 0.0844
          12/05/17 12/06/17 12/06/17 0.0000 0.0790 0.0000 0.0373 1.3155 1.4318
          11/01/17 11/02/17 11/02/17 0.0000 0.0603 0.0000 0.0000 0.0000 0.0603
          08/01/17 08/02/17 08/02/17 0.0000 0.0790 0.0000 0.0000 0.0000 0.0790
          05/01/17 05/02/17 05/02/17 0.0000 0.0811 0.0000 0.0000 0.0000 0.0811
          12/01/16 12/02/16 12/02/16 0.0000 0.0754 0.0000 0.0000 0.0118 0.0872
          11/01/16 11/02/16 11/02/16 0.0000 0.0650 0.0000 0.0000 0.0000 0.0650
          08/01/16 08/02/16 08/02/16 0.0000 0.0800 0.0000 0.0000 0.0000 0.0800
          05/02/16 05/03/16 05/03/16 0.0000 0.0970 0.0000 0.0000 0.0000 0.0970
          12/03/15 12/04/15 12/04/15 0.0000 0.0761 0.0000 0.0154 1.3016 1.3931
          11/02/15 11/03/15 11/03/15 0.0000 0.0860 0.0000 0.0000 0.0000 0.0860
          08/03/15 08/04/15 08/04/15 0.0000 0.0920 0.0000 0.0000 0.0000 0.0920
          05/01/15 05/04/15 05/04/15 0.0000 0.1090 0.0000 0.0000 0.0000 0.1090
          12/05/14 12/08/14 12/08/14 0.0000 0.0931 0.0000 0.0000 0.6614 0.7545
          11/03/14 11/04/14 11/04/14 0.0000 0.0850 0.0000 0.0000 0.0000 0.0850
          08/01/14 08/04/14 08/04/14 0.0000 0.0900 0.0000 0.0000 0.0000 0.0900
          05/01/14 05/02/14 05/02/14 0.0000 0.0950 0.0000 0.0000 0.0000 0.0950
          12/06/13 12/09/13 12/09/13 0.0000 0.1013 0.0000 0.0000 0.0000 0.1013
          11/01/13 11/04/13 11/04/13 0.0000 0.0930 0.0000 0.0000 0.0000 0.0930
          08/01/13 08/02/13 08/02/13 0.0000 0.1070 0.0000 0.0000 0.0000 0.1070
          05/01/13 05/02/13 05/02/13 0.0000 0.0960 0.0000 0.0000 0.0000 0.0960
          12/05/12 12/06/12 12/06/12 0.0000 0.0940 0.0000 0.0000 0.0000 0.0940
          11/01/12 11/02/12 11/02/12 0.0000 0.0790 0.0000 0.0000 0.0000 0.0790
          08/01/12 08/02/12 08/02/12 0.0000 0.0840 0.0000 0.0000 0.0000 0.0840
          05/01/12 05/02/12 05/02/12 0.0000 0.0710 0.0000 0.0000 0.0000 0.0710
          12/02/11 12/05/11 12/05/11 0.0000 0.2840 0.0000 0.0000 0.0000 0.2840
          12/06/10 12/07/10 12/07/10 0.0000 0.2890 0.0000 0.0000 0.0000 0.2890
          12/07/09 12/08/09 12/08/09 0.0000 0.3170 0.0000 0.0000 0.0000 0.3170
          12/04/08 12/05/08 12/05/08 0.0000 0.3170 0.0000 0.0000 0.0000 0.3170
          12/07/07 12/10/07 12/10/07 0.0000 0.2880 0.0000 0.0000 0.0000 0.2880
          12/01/06 12/04/06 12/04/06 0.0000 0.2750 0.0000 0.0000 0.0000 0.2750
          12/02/05 12/05/05 12/05/05 0.0000 0.1300 0.0000 0.0000 0.0000 0.1300
          12/02/04 12/03/04 12/03/04 0.0000 0.2244 0.0000 0.0000 0.0000 0.2244
          See all rows...

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