BNY Mellon Variable Investment Fund, Appreciation Portfolio

    Overview

    Why invest in this Fund?

    The fund seeks long-term capital growth consistent with the preservation of capital. A secondary goal is current income.

    To pursue these goals, the fund normally invests at least 80% of its assets in common stock. The fund focuses on 'blue-chip' companies with total market capitalizations of more than $5 billion at the time of purchase, including multinational companies.

    In choosing stocks, the fund first identifies economic sectors it believes will expand over the next three to five years or longer. Using fundamental analysis, the fund then seeks companies within these sectors that have proven track records and dominant positions in their industries. The fund also may invest in companies which it considers undervalued in terms of earnings, assets or growth prospects. The fund employs a 'buy-and-hold' investment strategy, which generally has resulted in an annual fund turnover of below 15%.

    In addition to direct investments, the fund may invest in securities of foreign companies in the form of U.S. dollar-denominated American Depositary Receipts ('ADRs'). ADRs typically are issued by an American bank or trust company and evidence ownership of, and may be converted into an underlying foreign security. ADRs are traded in the United States on national securities exchanges and in the over-the counter market. The fund may purchase ADRs through 'sponsored' or 'unsponsored' facilities. A sponsored facility is established jointly by the issuer of the underlying security and a depositary. A depositary may establish an unsponsored facility without participation by the issuer of the deposited security.

    Min. Class Investment
    $1,000
    Class Inception Date
    04/05/93
    Fund Assets
    $210,879,050  As of  09/13/24
    Class Assets
    $167,701,038  As of  09/13/24
    Portfolio Turnover Rate
    3.73% As of fiscal year end  12/31/23
    Morningstar Category
    Large Growth
    Benchmark
    S&P 500® Index
    Morningstar Overall Rating
    Fund Holdings
    48 As of 08/31/24
    FUND STATUS
    Open

    Morningstar Rating™ as of August 31, 2024 for the Initial Shares 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 (1083 funds rated); 3 Yrs. 3 Stars (1083 funds rated); 5 Yrs. 3 Stars (1012 funds rated); 10 Yrs. 2 Stars (796 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 1998

      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 2000

      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
    Fees & Expenses

    Fees & Expenses

    Variable insurance products have additional fees, charges and expenses. Please consult the applicable variable contract prospectus for more detailed information.

    Portfolio

    Portfolio Manager/Sub-Investment Adviser

    The fund's investment adviser is BNY Mellon Investment Adviser, Inc. (BNYM Investment Adviser), 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 Gentry Lee, Catherine Crain, Christopher Sarofim, Charles Sheedy and Alan Christensen. 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. Lee is Chief Executive Officer and Chief Investment Officer, Ms. Crain is a Vice President, Mr. Sarofim is Chairman, Mr. Sheedy is a Senior Vice President and Mr. Christensen is the President and Head of Investment Risk. Mr. Lee has been a portfolio manager of the fund since December 2010. Ms. Crain has been a portfolio manager of the fund since March 1998. Messrs. Sarofim and Sheedy have been portfolio managers of the fund since October 2000. Mr. Christensen has been a portfolio manager of the fund since March 2020.

    Top Holdings

    Download Total Holdings
    As of 08/31/24

    Asset Allocation

        Stats & Risks

        Main Risks

        An investment in the fund is not a bank deposit. It is not insured or guaranteed by the FDIC or any other government agency. It is not a complete investment program. The fund's share price fluctuates, sometimes dramatically, which means you could lose money.
        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.
        ADR risk. ADRs may be subject to certain of the risks associated with direct investment in foreign companies, such as currency risk, political and economic risk and market risk, because their values depend on the performance of the non-dollar denominated underlying foreign securities. For further information, see Fund Details - Investment Risks in the prospectus.
        Please refer to the prospectus for a more complete discussion of the fund's main risks.

        Risk Metrics

        As of  08/31/24  3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
        -
        		17.91 -4.62 0.98 94.84 0.12

        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.


        Literature

        Literature

        PRODUCT MATERIALS

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        Factsheet, Prospectus and Reports

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        Factsheet Download
        Prospectus Download
        Summary Prospectus Download
        SAI Download
        Annual Report Download
        Semi Annual Report - Initial Shares Download
        Semi Annual Financials and Other Information Download
        1Q Fiscal Holdings Download
        3Q Fiscal Holdings Download