497 1 group2sai-0420211.htm FINALIZED USAI 497E group2sai-0420211.htm - Generated by SEC Publisher for SEC Filing

STATEMENT OF ADDITIONAL INFORMATION

June 30, 2020, as revised or amended

September 16, 2020, December 31, 2020, March 1, 2021,

March 31, 2021 and April 30, 2021

This Statement of Additional Information (SAI), which is not a prospectus, supplements and should be read in conjunction with the current prospectus of each fund listed below, as such prospectuses may be revised from time to time. To obtain a copy of a fund's prospectus, please call your financial adviser, or write to the fund at 144 Glenn Curtiss Boulevard, Uniondale, New York 11556-0144, visit www.im.bnymellon.com or call 1-800-373-9387 (inside the U.S. only).

The most recent annual report and semi-annual report to shareholders for each fund are separate documents supplied with this SAI, and the financial statements, accompanying notes and report of the independent registered public accounting firm appearing in the annual report are incorporated by reference into this SAI and can be accessed by clicking on the applicable link in the "Fiscal Year End/Annual Report Date" column below. All classes of a fund have the same fiscal year end and prospectus date, except if otherwise indicated. Capitalized but undefined terms used in this SAI are defined in the Glossary at the end of this SAI.

           
         

Fund

Abbreviation

Share Class/Ticker

Fiscal Year End/Annual Report Date*

Prospectus Date

         

BNY Mellon Advantage Funds, Inc.

BNYMAF

     

BNY Mellon Dynamic Total Return Fund

BNYMDTRF

Class A/AVGAX

October 31st

March 1st

   

Class C/AVGCX

   
   

Class I/AVGRX

   
   

Class Y/AVGYX

   

BNY Mellon Global Dynamic Bond Income Fund

BNYMGDBIF

Class A/DGDAX

October 31st

March 1st

   

Class C/DGDCX

   
   

Class I/DGDIX

   
   

Class Y/DGDYX

   

BNY Mellon Global Real Return Fund

BNYMGRRF

Class A/DRRAX

October 31st

March 1st

   

Class C/DRRCX

   
   

Class I/DRRIX

   
   

Class Y/DRRYX

   

BNY Mellon Opportunistic Midcap Value Fund

BNYMOMVF

Class A/DMCVX

August 31st

December 31st

   

Class C/DVLCX

   
   

Class I/DVLIX

   
   

Class Y/DMCYX

   

BNY Mellon Opportunistic Small Cap Fund

BNYMOSCF

Investor/DSCVX

August 31st

December 31st

   

Class I/DOPIX

   
   

Class Y/DSCYX

   

BNY Mellon Dynamic Value Fund

BNYMDVF

Class A/DAGVX

August 31st

December 31st

   

Class C/DCGVX

   
   

Class I/DRGVX

   
   

Class Y/DRGYX

   

BNY Mellon Structured Midcap Fund

BNYMSMF

Class A/DPSAX

August 31st

December 31st

   

Class C/DPSCX

   
   

Class I/DPSRX

   
   

Class Y/DPSYX

   
   


GRP2-SAI-0421

 

 

           
         

Fund

Abbreviation

Share Class/Ticker

Fiscal Year End/Annual Report Date*

Prospectus Date

         

BNY Mellon Sustainable Balanced Fund

BNYMSBF

Class K/DRAKX

October 31st

March 1st

   

Service Class/DRASX

   

BNY Mellon Technology Growth Fund

BNYMTGF

Class A/DTGRX

August 31st

December 31st

   

Class C/DTGCX

   
   

Class I/DGVRX

   
   

Class Y/DTEYX

   

BNY Mellon Index Funds, Inc.

BNYMIF

     

BNY Mellon International Stock Index Fund

BNYMISIF

Investor/DIISX

October 31st

March 1st

   

Class I/DINIX

   

BNY Mellon S&P 500 Index Fund

BNYMS&P

PEOPX

October 31st

March 1st

BNY Mellon Smallcap Stock Index Fund

BNYMSSIF

Investor/DISSX

October 31st

March 1st

   

Class I/DISIX

   

BNY Mellon International Securities Funds, Inc.

BNYMISF

     

BNY Mellon Emerging Markets Securities Fund

BNYMEMSF

Class A/DRFMX

May 31st

September 16th

   

Class C/DCPEX

   
   

Class I/DRPEX

   
   

Class Y/DYPEX

   

BNY Mellon Investment Funds VI

BNYMIFVI

     

BNY Mellon Balanced Opportunity Fund

BNYMBOF

Class A/DBOAX

November 30th

March 31st

   

Class C/DBOCX

   
   

Class I/DBORX

   
   

Class J/THPBX

   
   

Class Y/DBOYX

   
   

Class Z/DBOZX

   

BNY Mellon Midcap Index Fund, Inc.

BNYMMIF

Investor/PESPX

October 31st

March 1st

   

Class I/DMIDX

   

BNY Mellon New Jersey Municipal Bond Fund, Inc.

BNYMNJMBF

Class A/DRNJX

December 31st

April 30th

   

Class C/DCNJX

   
   

Class I/DNMIX

   
   

Class Y/DNJYX

   
   

Class Z/DZNJX

   

BNY Mellon Investment Funds V, Inc.

BNYMIFV

     

BNY Mellon Diversified International Fund

BNYMDIF

Class A/DFPAX

October 31st

March 1st

   

Class C/DFPCF

   
   

Class I/DFPIX

   
   

Class Y/DDIFX

   

BNY Mellon Global Real Estate Securities Fund

BNYMGRESF

Class A/DRLAX

October 31st

March 1st

   

Class C/DGBCX

   
   

Class I/DRLIX

   
   

Class Y/DRLYX

   

BNY Mellon Large Cap Equity Fund

BNYMLCEF

Class A/DLQAX

December 31st

April 30th

   

Class C/DEYCX

   
   

Class I/DLQIX

   
   

Class Y/DLACX

   

 

           
         

Fund

Abbreviation

Share Class/Ticker

Fiscal Year End/Annual Report Date*

Prospectus Date

         

BNY Mellon Research Growth Fund, Inc.

BNYMRGF

Class A/DWOAX

February 28(9)th

June 30th

   

Class C/DWOCX

   
   

Class I/DWOIX

   
   

Class Y/DRYQX

   
   

Class Z/DREQX

   

* Certain information provided in this SAI is indicated to be as of the end of a fund's last fiscal year or during a fund's last fiscal year. The term "last fiscal year" means the most recently completed fiscal year, except that, for funds with fiscal years ended February 28(9)th, "last fiscal year" means the fiscal year immediately preceding the most recently completed fiscal year.

 

TABLE OF CONTENTS

PART I

PART II

 

PART III

   

ADDITIONAL INFORMATION ABOUT HOW TO BUY SHARES

III-1

Investment Minimums

III-1

Small Account Policies

III-2

In-Kind Purchases

III-2

Information Pertaining to Purchase Orders

III-2

TeleTransfer Privilege

III-2

Reopening an Account

III-3

Multi-Class Funds

III-3

All Other Funds and Share Classes

III-5

Information Relating to Purchase Orders (money market funds only)

III-5

Converting Shares

III-6

Taxpayer ID Number

III-6

Frequent Purchases and Exchanges (non-money market funds only)

III-7

ADDITIONAL INFORMATION ABOUT HOW TO REDEEM SHARES

III-7

Redemption Fee

III-8

Contingent Deferred Sales Charge—Multi-Class Funds

III-8

Class C

III-8

Waiver of CDSC

III-9

Redemption Through an Authorized Entity

III-9

Checkwriting Privilege

III-9

Wire Redemption Privilege

III-10

Redemption through Compatible Computer Facilities

III-10

TeleTransfer Privilege

III-10

Reinvestment Privilege

III-11

Share Certificates; Medallion Signature Guarantees

III-11

Share Certificates

III-11

Medallion Signature Guarantees

III-11

Redemption Commitment

III-11

Suspension of Redemptions

III-11

Fund Liquidation (money market funds only)

III-11

Liquidity Fees and Redemption Gates (Institutional and Retail MMFs only)

III-12

ADDITIONAL INFORMATION ABOUT SHAREHOLDER SERVICES

III-12

Fund Exchanges

III-12

 

   

Class A or Class C shares of a Multi-Class Fund

III-14

Shares Received by Exchange From Class B Shares

III-14

Class Y Shares

III-14

Exchanges of Class I or Class Y Shares Held by a Retirement Plan

III-14

Auto-Exchange Privilege

III-14

Automatic Asset Builder®

III-15

Government Direct Deposit Privilege

III-15

Payroll Savings Plan

III-15

Dividend Options

III-15

Dividend Sweep

III-15

Dividend ACH

III-15

Automatic Withdrawal Plan

III-15

Letter of Intent¾Class A Shares

III-16

Retirement Plans and IRAs

III-17

ADDITIONAL INFORMATION ABOUT RULE 12b-1 PLANS AND NON-RULE 12b-1 SERVICES PLANS

III-17

ADDITIONAL INFORMATION ABOUT INVESTMENTS,

 

INVESTMENT TECHNIQUES AND RISKS

III-17

All Funds

III-17

Market Risk; Market Developments

III-18

Cybersecurity Risk

III-19

All Funds other than Money Market Funds

III-19

Equity Securities

III-19

Common Stock

III-20

Preferred Stock

III-20

Convertible Securities

III-20

Warrants and Stock Purchase Rights

III-21

IPOs

III-21

Private Placements and Pre-IPO Investments

III-22

Fixed-Income Securities

III-22

U.S. Government Securities

III-23

Corporate Debt Securities

III-24

Ratings of Securities; Unrated Securities

III-24

High Yield and Lower-Rated Securities

III-24

Zero Coupon, Pay-In-Kind and Step-Up Securities

III-26

Inflation-Indexed Securities

III-27

Variable and Floating Rate Securities

III-27

Loans

III-28

Participation Interests and Assignments

III-30

Mortgage-Related Securities

III-31

Asset-Backed Securities

III-35

Collateralized Debt Obligations

III-36

LIBOR Rate Risk

III-36

Municipal Securities

III-37

Taxable Investments (municipal or other tax-exempt funds only)

III-42

Funding Agreements

III-42

Real Estate Investment Trusts (REITs)

III-42

Money Market Instruments

III-43

Bank Obligations

III-43

Repurchase Agreements

III-43

Commercial Paper

III-43

Foreign Securities

III-43

Investing in Europe

III-44

Investing in Japan

III-45

Emerging Markets

III-46

 

   

Certain Asian Emerging Market Countries

III-47

Investing in Russia and other Eastern European Countries

III-50

Depositary Receipts and New York Shares

III-50

Sovereign Debt Obligations

III-51

Eurodollar and Yankee Dollar Investments

III-52

Investment Companies, Including Exchange-Traded Funds

III-52

Exchange-Traded Funds

III-53

Private Investment Funds

III-53

Exchange-Traded Notes

III-54

Master Limited Partnerships (MLPs)

III-54

MLP Common Units

III-55

MLP Subordinated Units

III-55

MLP Convertible Subordinated Units

III-55

MLP Preferred Units

III-56

MLP General Partner Interests

III-56

MLP Debt Securities

III-56

Equity and Debt Securities Issued by Affiliates of MLPs

III-56

MLP I-Shares

III-56

PIPEs

III-57

Derivatives

III-57

Risks

III-57

CEA Regulation

III-59

Specific Types of Derivatives

III-59

Foreign Currency Transactions

III-67

Commodities and Commodity-Related Instruments, Including Commodity ETPs

III-68

Commodity ETPs

III-68

Short-Selling

III-69

Lending Portfolio Securities

III-69

Borrowing Money

III-70

Borrowing Money for Leverage

III-70

Reverse Repurchase Agreements

III-70

Forward Commitments

III-70

Forward Roll Transactions

III-71

Illiquid Securities

III-71

Illiquid Securities Generally

III-71

Section 4(2) Paper and Rule 144A Securities

III-71

Non-Diversified Status

III-72

Investments in the Technology Sector

III-72

Investments in the Real Estate Sector

III-72

Investments in the Infrastructure Sector

III-73

Investments in the Natural Resources Sector

III-73

Money Market Funds

III-73

Ratings of Securities

III-74

Treasury Securities

III-74

U.S. Government Securities

III-74

Repurchase Agreements

III-75

Bank Obligations

III-75

Bank Securities

III-76

Floating and Variable Rate Obligations

III-77

Participation Interests

III-77

Asset-Backed Securities

III-77

Commercial Paper

III-77

Investment Companies

III-77

Foreign Securities

III-77

Municipal Securities

III-78

Derivative Products

III-78

 

   

Stand-By Commitments

III-78

Taxable Investments (municipal or other tax-exempt funds only)

III-78

Illiquid Securities

III-78

Borrowing Money

III-78

Reverse Repurchase Agreements

III-78

Forward Commitments

III-79

Interfund Borrowing and Lending Program

III-79

Lending Portfolio Securities

III-79

Money Market Fund Material Events

III-79

Imposition of Liquidity Fees and Temporary Suspensions of Fund Redemptions

III-79

Financial Support Provided to Money Market Funds

III-79

RATING CATEGORIES

III-80

S&P

III-80

Issue Credit Ratings

III-81

Long-Term Issue Credit Ratings

III-81

Short-Term Issue Credit Ratings

III-82

Municipal Short-Term Note Ratings Definitions

III-82

Moody's

III-83

Long-Term Obligation Ratings and Definitions

III-83

Short-Term Ratings

III-83

U.S. Municipal Short-Term Debt and Demand Obligation Ratings

III-84

Fitch

III-85

Corporate Finance Obligations — Long-Term Rating Scales

III-85

Structured, Project & Public Finance Obligations — Long-Term Rating Scales

III-85

Short-Term Ratings Assigned to Issuers and Obligations

III-86

DBRS

III-87

Long Term Obligations

III-87

Commercial Paper and Short Term Debt

III-87

ADDITIONAL INFORMATION ABOUT THE BOARDS

III-88

Boards' Oversight Role in Management

III-88

Board Composition and Leadership Structure

III-88

Additional Information About the Boards and their Committees

III-89

MANAGEMENT ARRANGEMENTS

III-89

The Manager

III-89

Sub-Advisers

III-90

Portfolio Managers and Portfolio Manager Compensation

III-91

Certain Conflicts of Interest with Other Accounts

III-96

Code of Ethics

III-98

Distributor

III-98

Transfer and Dividend Disbursing Agent and Custodian

III-99

Annual Anti-Money Laundering Program Review

III-99

Funds' Compliance Policies and Procedures

III-99

Combined Prospectuses

III-99

Escheatment

III-99

DETERMINATION OF NAV

III-100

Valuation of Portfolio Securities (funds other than Retail and Government MMFs)

III-100

Valuation of Portfolio Securities (Retail and Government MMFs only)

III-101

Calculation of NAV

III-101

Expense Allocations

III-102

NYSE and Transfer Agent Closings

III-102

ADDITIONAL INFORMATION ABOUT DIVIDENDS AND DISTRIBUTIONS

III-102

Funds other than Money Market Funds

III-102

 

       

Money Market Funds

III-103

CERTAIN MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS

III-103

Taxation of the Funds

III-104

RIC Qualification Requirements

III-104

Investments in PFICs

III-107

Taxation of U.S. Shareholders

III-110

Fund Distributions

III-110

NAV Method of Accounting (money market funds only)

III-112

3.8% Surtax

III-113

Taxation of Non-U.S. Shareholders

III-113

Fund Distributions

III-113

Tax Withholding

III-114

PORTFOLIO TRANSACTIONS

III-114

Trading the Funds' Portfolio Securities

III-114

Soft Dollars

III-117

IPO Allocations

III-118

DISCLOSURE OF PORTFOLIO HOLDINGS

III-118

Policy

III-118

Disclosure of Portfolio Holdings

III-118

SUMMARY OF THE PROXY VOTING POLICY AND PROCEDURES OF THE BNY MELLON FAMILY OF FUNDS

III-121

ADDITIONAL INFORMATION ABOUT THE FUNDS' STRUCTURE; FUND SHARES

 

AND VOTING RIGHTS

III-123

Massachusetts Business Trusts

III-123

Fund Shares and Voting Rights

III-123

GLOSSARY

III-123

APPENDIX A: PROXY VOTING POLICIES AND PROCEDURES OF FIRMS DELEGATED FUND PROXY VOTING AUTHORITY

A- 1

 

PART I

BOARD INFORMATION

Information About Each Board Member's Experience, Qualifications, Attributes or Skills

Board members for the funds, together with information as to their positions with the funds, principal occupations and other board memberships during the past five years, are shown below. The address of each board member is 240 Greenwich Street, New York, New York 10286.

All of the board members are Independent Board Members.

     

Name
Year of Birth
Position1

Principal Occupation During Past 5 Years

Other Public Company Board Memberships During Past 5 Years

     

Joseph S. DiMartino
1943
Chairman of the Board

Director or Trustee of funds in the BNY Mellon Family of Funds and certain other entities (as listed herein)

CBIZ, Inc., a public company providing professional business services, products and solutions, Director (1997Present)

Peggy C. Davis
1943
Board Member

Shad Professor of Law, New York University School of Law (1983 – Present)

N/A

Gina D. France
1958
Board Member

Founder, President and Chief Executive Officer, France Strategic Partners LLC, a strategy and advisory firm serving corporate clients across the United States (2003 – Present)

Trustee, Baldwin Wallace University (2013 – Present)

Trustee, Dance Cleveland, a non-profit (2001 – Present)

Huntington Bancshares, a bank holding company headquartered in Columbus, Ohio, Director (2016 – Present)

Cedar Fair, L.P., a publicly-traded partnership that owns and operates amusement parks and hotels in the U.S. and Canada, Director (2011 – Present)

CBIZ, Inc., a public company providing professional business services, products and solutions, Director (2015 – Present)

Joan L. Gulley
1947
Board Member

Chair (June 2018 – Present) and Director (2015 – Present), Nantucket Atheneum

Governor, Orchard Island Club (2016 – Present)

N/A

I-1

 

     

Name
Year of Birth
Position1

Principal Occupation During Past 5 Years

Other Public Company Board Memberships During Past 5 Years

     

Robin A. Melvin
1963
Board Member

Trustee, Westover School, a private girls' boarding school in Middlebury, Connecticut (2019 – Present)

Co-Chair, Mentor Illinois, a non-profit organization dedicated to increasing the quality of mentoring services in Illinois (2014 – 2020); Board member, Mentor Illinois (2013 – 2020)

N/A

1 Each of the Independent Board Members serves on the board's Audit, Nominating, Compensation, Litigation and Pricing Committees, except that Mr. DiMartino does not serve on the compensation committee. Ms. Melvin also serves on the board's Joint Governance Review Advisory Committee.

The following table shows the year each board member joined each fund's board.

           

Fund

Joseph S. DiMartino

Peggy C.
Davis

Gina D. France

Joan L. Gulley

Robin A. Melvin

           

BNYMAF

1995

2006

2019

2017

2012

BNYMIF

1995

2006

2019

2017

2012

BNYMISF

1995

2006

2019

2017

2012

BNYMIFVI

2003

2006

2019

2017

2012

BNYMMIF

1995

2006

2019

2017

2012

BNYMNJMBF

1995

2012

2019

2017

2011

BNYMIFV

1995

2012

2019

2017

2011

BNYMRGF

1995

2006

2019

2017

2012

Each board member, except Mses. France and Gulley, has been a BNY Mellon Family of Funds board member for over 20 years. Ms. France has more than 35 years of strategy, investment banking and corporate finance experience and Ms. Gulley was in the asset management business for more than 30 years prior to her retirement in 2014. Additional information about each board member follows (supplementing the information provided in the table above) that describes some of the specific experiences, qualifications, attributes or skills that each board member possesses which the boards believe has prepared them to be effective board members. The boards believe that the significance of each board member's experience, qualifications, attributes or skills is an individual matter (meaning that experience that is important for one board member may not have the same value for another) and that these factors are best evaluated at the board level, with no single board member, or particular factor, being indicative of board effectiveness. However, the boards believe that board members need to have the ability to critically review, evaluate, question and discuss information provided to them, and to interact effectively with fund management, service providers and counsel, in order to exercise effective business judgment in the performance of their duties; each board believes that its members satisfy this standard. Experience relevant to having this ability may be achieved through a board member's educational background; business, professional training or practice (e.g., medicine, accounting or law), public service or academic positions; experience from service as a board member (including the boards for the funds) or as an executive of investment funds, public companies or significant private or not-for-profit entities or other organizations; and/or other life experiences. The charter for the boards' nominating committees contains certain other factors considered by the committees in identifying and evaluating potential board

I-2

 

member nominees. To assist them in evaluating matters under federal and state law, the board members are counseled by their independent legal counsel, who participates in board meetings and interacts with the Manager, and also may benefit from information provided by the Manager's counsel; counsel to the funds and to the boards have significant experience advising funds and fund board members. The boards and their committees have the ability to engage other experts as appropriate. The boards evaluate their performance on an annual basis.

· Joseph S. DiMartino – Mr. DiMartino has been the Chairman of the Board of the funds in the BNY Mellon Family of Funds for over 25 years. From 1971 through 1994, Mr. DiMartino served in various roles as an employee of Dreyfus (prior to its acquisition by a predecessor of BNY Mellon in August 1994 and related management changes), including portfolio manager, President, Chief Operating Officer and a director. He ceased being an employee or director of Dreyfus by the end of 1994. From July 1995 to November 1997, Mr. DiMartino served as Chairman of the Board of The Noel Group, a public buyout firm; in that capacity, he helped manage, acquire, take public and liquidate a number of operating companies. From 1986 to 2010, Mr. DiMartino served as a Director of the Muscular Dystrophy Association.

· Peggy C. Davis – Ms. Davis currently serves as the John S. R. Shad Professor of Lawyering and Ethics at New York University School of Law as a writer and teacher in the fields of evidence, constitutional theory, family law, social sciences and the law, legal process and professional methodology and training. Prior to joining the university's faculty in 1983, Ms. Davis served as a Judge of the Family Court of the State of New York. Before her appointment to the bench, she practiced law for ten years in both the commercial and public interest sectors. Ms. Davis also has served as Chair of the Board of the Russell Sage Foundation.

· Gina D. France – Ms. France serves as President and Chief Executive Officer of France Strategic Partners. Before founding France Strategic Partners in 2003, Ms. France was a managing director of Ernst & Young LLP where she led a national client-facing strategy group. She has served as a strategic advisor to over 250 companies throughout the course of her career. Ms. France has more than 35 years of strategy, investment banking and corporate finance experience. Previously, Ms. France was an investment banker with Lehman Brothers in New York and San Francisco. Prior to Lehman Brothers, she served as the international cash manager of Marathon Oil Company. Ms. France has served on several corporate boards including: Huntington Bancshares (investment company oversight committee chair); Cedar Fair, L.P. (audit committee chair); CBIZ, Inc.; Baldwin Wallace University; FirstMerit Corporation (nominating and governance committee chair); Dawn Food Products, Inc.; and Mack Industries. Ms. France currently serves as a Trustee of Dance Cleveland, a non-profit.

· Joan L. Gulley – Ms. Gulley served in various senior roles at PNC Financial Services Group, Inc. ("PNC") from 1993 until her retirement in 2014, including Chief Executive Officer of PNC Advisors, the wealth management and institutional services business of PNC, from 2002 to 2005, Executive Vice President and Chief Marketing Officer of PNC from 2002 to 2007, and Executive Vice President ("EVP") and Chief Human Resources Officer ("CHRO") of PNC from 2008 until 2014. In her role as EVP and CHRO of PNC, Ms. Gulley was responsible for the oversight of $8 billion in combined pension and 401(k) assets. Ms. Gulley also served as a member of PNC's Executive Committee from 2008 to 2014, where she participated in all key strategic and operational decisions affecting PNC, and was responsible for all staff support to the PNC Board's Personnel and Compensation Committee with respect to executive compensation, succession planning, talent management, human resource regulatory matters and diversity. Prior to joining PNC, Ms. Gulley held positions with The Massachusetts Company, a chartered bank and subsidiary of The Travelers Insurance Company, which was acquired by PNC in 1993, and with branches of the Federal Reserve Bank in Boston, Massachusetts and Washington D.C. Ms. Gulley currently serves as the Chair of the Board of Trustees of the Nantucket Atheneum and Governor of the Orchard Island Club.

· Robin A. Melvin – From 2014 to 2020, Ms. Melvin served as Co-Chair of Mentor Illinois, a non-profit organization dedicated to increasing the quantity and quality of mentoring services in Illinois, and served as a board member from 2013 to 2020. Ms. Melvin served as Director of the Boisi Family Foundation, a private family foundation that supports organizations serving the needs of youth from disadvantaged circumstances, from 1995 to 2012. In that role she also managed the Boisi Family Office, providing the primary interface with all investment managers, legal advisors and other service providers to the family. She has also served in various roles with MENTOR, a national non-profit youth mentoring advocacy organization, including Executive

I-3

 

Director of the New York City affiliate, Vice President of the national affiliate network, Vice President of Development, and, immediately prior to her departure, Senior Vice President in charge of strategy. Prior to that, Ms. Melvin was an investment banker with Goldman Sachs Group, Inc. Since 2019 she has served as a Trustee of Westover School, a private girls boarding school in Middlebury, Connecticut.

Committee Meetings

The boards' standing Audit, Nominating, Compensation, Litigation and Pricing Committees met during the funds' last fiscal years as indicated below:

           

Fund

Audit

Nominating

Compensation

Litigation

Pricing

           

BNYMAF (8/31 fiscal year end)

4

0

0

0

0

BNYMAF (10/31 fiscal year end)

4

0

0

0

0

BNYMIF

4

0

0

0

0

BNYMISF

4

0

0

0

0

BNYMIFVI

4

1

0

0

0

BNYMMIF

4

0

0

0

0

BNYMNJMBF

4

0

1

0

0

BNYMIFV (10/31 fiscal year end)

4

0

0

0

0

BNYMIFV (12/31 fiscal year end)

4

0

1

0

0

BNYMRGF

5

0

0

0

0

Board Members' Fund Share Ownership

The table below indicates the dollar range of each board member's ownership of fund shares and shares of other funds in the BNY Mellon Family of Funds, in each case as of December 31, 2020.

Independent Board Members

           

Fund

Joseph S. DiMartino

Peggy C. Davis

Gina D. France

Joan L. Gulley

Robin A. Melvin

           

BNYDTRF

None

None

None

None

None

BNYMDVF

$50,001 – $100,000

None

None

$50,001 – $100,000

None

BNYMGDBIF

None

None

None

None

None

BNYMGRRF

None

None

None

None

$10,001 –
$50,000

BNYMOMVF

None

None

None

$10,001 – $50,000

None

BNYMOSCF

None

None

None

$10,001 – $50,000

None

BNYMSMF

None

None

None

None

None

BNYMSBF

None

None

None

None

None

BNYMTGF

None

None

$10,001 – $50,000

None

$10,001 –
$50,000

BNYMISIF

None

None

None

None

None

BNYMS&P

None

None

None

None

None

BNYMSSIF

None

None

None

None

None

BNYMEMSF

None

None

None

None

None

I-4

 

           

Fund

Joseph S. DiMartino

Peggy C. Davis

Gina D. France

Joan L. Gulley

Robin A. Melvin

           

BNYMBOF

None

None

None

None

None

BNYMMIF

None

None

None

None

None

BNYMNJMBF

None

None

None

None

None

BNYMDIF

None

None

None

None

None

BNYMGRESF

None

None

None

None

$10,001 –
$50,000

BNYMLCEF

None

None

None

None

None

BNYMRGF

$50,001 – $100,000

None

$10,001 – $50,000

None

None

           

Aggregate holdings of funds in the BNY Mellon Family of Funds

Over $100,000

None

Over $100,000

Over $100,000

$50,001 – $100,000

See "Share Ownership" below for information on the shareholdings of each fund by board members and officers as a group.

As of December 31, 2020, none of the board members or their immediate family members owned securities of the Manager, any Sub-Advisers, the Distributor or any person (other than a registered investment company) directly or indirectly controlling, controlled by or under common control with the Manager, any Sub-Advisers or the Distributor.

Board Members' Compensation

Annual retainer fees and meeting attendance fees are allocated among the funds on the basis of net assets, with the Chairman of the Board, Joseph S. DiMartino, receiving an additional 25% of such compensation. The funds reimburse board members for their expenses. The funds do not have a bonus, pension, profit-sharing or retirement plan. Each emeritus board member is entitled to receive an annual retainer of one-half the amount paid as a retainer at the time the board member became emeritus and a per meeting attended fee of one-half the amount paid to board members.

The aggregate amount of fees received from the funds by each current board member for the funds' last fiscal years, and by all funds in the fund complex (which comprises registered investment companies for which the Manager or an affiliate of the Manager serves as investment adviser) for which such person was a board member during 2020, were as follows:

I-5

 

Independent Board Members

           

Fund

Joseph S. DiMartino*

Peggy C. Davis

Gina D. France**

Joan L. Gulley

Robin A. Melvin

           

BNYMAF (8/31 fiscal year end)

$32,313

$26,260

$26,527

$26,173

$25,886

BNYMAF (10/31 fiscal year end)

$46,976

$37,898

$38,124

$37,816

$37,624

BNYMIF

$53,489

$43,136

$43,379

$43,041

$42,844

BNYMISF

$1,140

$947

$911

$905

$911

BNYMIFVI

$3,825

$3,085

$3,103

$3,078

$3,063

BNYMMIF

$28,423

$22,915

$23,038

$22,864

$22,798

BNYMNJMBF

$5,256

$4,237

$4,262

$4,233

$4,215

BNYMIFV (10/31 fiscal year end)

$16,024

$12,913

$12,977

$12,884

$12,837

BNYMIFV (12/31 fiscal year end)

$8,520

$6,865

$6,903

$6,860

$6,8376,282

BNYMRGF

$20,096

$16,482

$15,005

$15,451

$15,910

           

Total compensation from the funds and fund complex (***)

$1,238,750
(118)

$368,000
(43)

$208,000
(29)

$374,000
(49)

$798,250
(96)

Emeritus Board Members

           

Fund

David P. Feldman+

Ehud Houminer++

Lynn Martin+++

Martin Peretz++++

Philip L. Toia+++++

           

BNYMAF (8/31 fiscal year end)

$18,753

$26,173

$18,956

$11,507

$12,080

BNYMAF (10/31 fiscal year end)

$21,908

$36,410

$23,242

$15,968

$17,614

BNYMIF

$25,239

$41,344

$26,873

$17,937

$20,038

BNYMISF

$782

$905

$762

$447

$421

BNYMIFVI

$1,681

$2,838

$1,788

$1,290

$1,435

BNYMMIF

$13,552

$22,035

$14,473

$9,432

$10,641

BNYMNJMBF

$2,099

$3,554

$2,099

$1,801

$1,997

BNYMIFV (10/31 fiscal year end)

$7,680

$12,462

$8,225

$5,285

$5,994

BNYMIFV (12/31 fiscal year end)

$3,404

$5,572

$3,404

$2,912

$3,235

BNYMRGF

$17,136

$16,451

$16,363

$11,199

$7,395

           

Total compensation from the funds and fund complex† (***)

$102,500
(29)

$328,291
(49)

$102,500
(29)

$87,500
(29)

$155,000
(62)

 Amounts shown do not include expenses reimbursed to board members for attending board meetings.

* Amounts shown do not include the costs of office space and related parking, office supplies and secretarial services, which also are paid by the funds (also allocated based on net assets). The amount paid by each fund in 2020 ranged from $2 to $2,491 ($17,507 for all funds).

** Ms. France was elected to the boards in March 2019.

I-6

 

*** Represents the number of separate portfolios comprising the investment companies in the fund complex, including the funds, for which the board member served in 2020.

+ Effective November 16, 2019, Mr. Feldman became an emeritus board member for all funds. Prior to November 16, 2019, Mr. Feldman was a board member for all funds. The amounts in the table reflect the fees he received from the funds as a board member during a fund's fiscal year ended prior to November 16, 2019.

++ Effective August 20, 2020, Mr. Houminer became an emeritus board member for all funds. Prior to August 20, 2020, Mr. Houminer was a board member for all funds. The amounts in the table reflect the fees he received from the funds as a board member during a fund's fiscal year ended prior to August 20, 2020.

+++ Effective December 26, 2019, Ms. Martin became an emeritus board member for all funds. Prior to December 26, 2019, Ms. Martin was a board member for all funds. The amounts in the table reflect the fees she received from the funds as a board member during a fund's fiscal year ended prior to December 26, 2019.

++++ Effective July 30, 2019, Dr. Peretz became an emeritus board member for all funds. Prior to July 30, 2019, Dr. Peretz was a board member for all funds. The amounts in the table reflect the fees he received from the funds as a board member during a fund's fiscal year ended prior to July 30, 2019.

+++++ Emeritus board member for all funds.

I-7

 

OFFICERS

     

Name
Year of Birth
Position1
Since

Principal Occupation During Past 5 Years

Number of Investment Companies (Portfolios) in the Fund Complex* for which the Officer serves as an Officer

     

David DiPetrillo
1978
President
20192

Head of North American Product, BNY Mellon Investment Management since January 2018; Director of Product Strategy, BNY Mellon Investment Management from January 2016 to December 2017

61 (114)

James Windels
1958
Treasurer
2001

Director – BNY Mellon Fund Administration

62 (137)

Bennett A. MacDougall
1971
Chief Legal Officer
2015

Chief Legal Officer of BNYM Investment Adviser and Associate General Counsel and Managing Director of BNY Mellon

62 (137)

James Bitetto
1966
Vice President and Secretary
20053

Senior Managing Counsel of BNY Mellon since December 2019; Managing Counsel of BNY Mellon from April 2014 to December 2019; Secretary of BNYM Investment Adviser

62 (137)

Deirdre Cunnane
1990
Vice President and Assistant Secretary
2019

Counsel of BNY Mellon since August 2018; Senior Regulatory Specialist at BNY Mellon Investment Management Services from February 2016 to August 2018

62 (137)

Sarah S. Kelleher
1975
Vice President and Assistant Secretary
2014

Managing Counsel of BNY Mellon since December 2017; Senior Counsel of BNY Mellon from March 2013 to December 2017

62 (137)

Jeff S. Prusnofsky
1965
Vice President and Assistant Secretary
2005

Senior Managing Counsel of BNY Mellon

62 (137)

Amanda Quinn
1985
Vice President and Assistant Secretary
2020

Counsel of BNY Mellon since June 2019; Regulatory Administration Manager at BNY Mellon Investment Management Services from September 2018 to May 2019; Senior Regulatory Specialist at BNY Mellon Investment Management Services from April 2015 to August 2018

62 (137)

I-8

 

     

Name
Year of Birth
Position1
Since

Principal Occupation During Past 5 Years

Number of Investment Companies (Portfolios) in the Fund Complex* for which the Officer serves as an Officer

     

Peter M. Sullivan
1968
Vice President and Assistant Secretary
2019

Senior Managing Counsel of BNY Mellon since December 2020; Managing Counsel of BNY Mellon from March 2009 to December 2020

62 (137)

Natalya Zelensky
1985
Vice President and Assistant Secretary
2017

Managing Counsel of BNY Mellon since December 2019; Counsel of BNY Mellon from May 2016 to December 2019; Attorney at Wildermuth Endowment Strategy Fund/Wildermuth Advisory, LLC from November 2015 to May 2016

62 (137)

Gavin C. Reilly
1968
Assistant Treasurer
2005

Tax Manager - BNY Mellon Fund Administration

62 (137)

Robert S. Robol
1964
Assistant Treasurer
2002

Senior Accounting Manager – BNY Mellon Fund Administration

62 (137)

Robert Salviolo
1967
Assistant Treasurer
2007

Senior Accounting Manager – BNY Mellon Fund Administration

62 (137)

Robert Svagna
1967
Assistant Treasurer
2002

Senior Accounting Manager – BNY Mellon Fund Administration

62 (137)

Joseph W. Connolly
1957
CCO
2004

CCO of BNYM Investment Adviser, the BNY Mellon Family of Funds and BNY Mellon Funds Trust

61 (129)

Caridad M. Carosella
1968
Anti-Money Laundering Compliance Officer
2016

Anti-Money Laundering Compliance Officer of the BNY Mellon Family of Funds and BNY Mellon Funds Trust

55 (130)

* "Fund Complex" comprises registered investment companies for which the Manager or an affiliate of the Manager serves as investment adviser.

1 With respect to BNYMIFVI, Messrs. Windels and Svagna each has held his respective position since 2003.

2 President since January 2021; previously, Vice President.

3 Vice President and Secretary since 2018; previously, Vice President and Assistant Secretary.

Each officer serves until his or her respective successor has been duly elected and qualified or until his or her earlier death, resignation, retirement or removal. The address of each officer is 240 Greenwich Street, New York, New York 10286.

I-9

 

CERTAIN PORTFOLIO MANAGER INFORMATION

The following table lists the number and types of accounts (including the funds) advised by each fund's primary portfolio manager(s) and assets under management in those accounts as of the end of the last fiscal year of the funds they manage. If a portfolio manager is a primary portfolio manager for multiple funds with different fiscal year ends, information is provided as of the most recent last fiscal year end of the relevant funds, except if otherwise indicated.

             

Primary
Portfolio Manager

Registered Investment Companies

Total Assets Managed

Other Pooled Investment Vehicles

Total Assets Managed

Other Accounts

Total Assets Managed

John Bailer

5

$2.3B

3

$536M

11

$1.3B

Daniel Barton

3

$920M

None

N/A

None

N/A

Paul Benson

2

$1.2B

9

$2.8B

20

$4.9B

David Bowser

2

$462M

1

$894M

44

$7.0B

James Boyd

6

$2.7B

3

$237M

18

$1.3B

Paul Brain

1

$138M

6

$4.9B

4

$1.5B

E. Todd Briddell

1

$405M

None

N/A

None

N/A

Jeffrey Burger

14

$5.7B

1

$612M

445

$1.7B

Parmeshwar Chadha

1

$138M

3

$913M

1

$196M

Howard Cunningham

1

$138M

6

$1.3B

1

$5M

Dimitri Curtil

1

$431M

42

$20.0B

27

$4.5B

Vassilis Dagioglu

2

$740M

42

$21.0B

28

$5.0B

Thomas Durante

7

$11.8B

103

$92.3B

59

$111.7B

Brian C. Ferguson

5

$2.3B

3

$323M

27

$3.0B

David France

7

$11.8B

103

$92.3B

59

$111.7B

Dean Frankel

5

$883M

7

$469M

59

$4.3B

Todd Frysinger

7

$11.8B

103

$92.3B

59

$111.7B

Peter Goslin

7

$1.8B

2

$471M

14

$923M

Suzanne Hutchins

1

$2.9B

5

$11.5B

1

$592M

David S. Intoppa

5

$2.2B

3

$297M

42

$4.3B

Matthew T. Jenkin

3

$3.9B

1

$213M

20

$4.2B

Patrick Kent

6

$2.7B

5

$320M

16

$1.3B

Monty A. Kori

1

$1.6B

1

$102M

None

N/A

Caroline Lee

7

$4.6 B

None

N/A

None

N/A

Thomas Lee

2

$1.3B

1

$61.5M

7,615

$8.9B

Adam Logan

3

$621M

2

$471M

14

$923M

James A. Lydotes

4

$1.8B

9

$2.9B

3

$533M

Julianne D. McHugh

3

$865M

1

$27M

None

N/A

Jeffrey M. Mortimer

4

$1.7 B

None

N/A

None

N/A

Aron Pataki

1

$2.9B

7

$11.6B

2

$455M

Nancy Rogers

2

$1.2B

31

$15.1B

22

$17.5B

Donald Sauber

2

$1.3B

1

$61.5M

7,615

$8.9B

Vlasta Sheremeta

7

$11.8B

103

$92.3B

59

$111.7B

James Stavena

1

$431M

42

$20.0B

27

$4.5B

Rob Stewart

1

$8M

3

$2.1B

28

$1.2B

Michael Stoll

7

$11.8B

103

$92.3B

59

$111.7B

Justin Sumner

2

$1.3B

None

N/A

2

$946M

Erik Swords

4

$4.9B

1

$13M

None

N/A

Yuko Takano

3

$651M

3

$271M

5

$8M

Leigh N. Todd

5

$4.0B

3

$1.2B

15

$2.5B

Marlene Walker Smith

7

$11.8B

103

$92.3B

59

$111.7B

Andrew Warwick

1

$2.9B

5

$11.5B

1

$592M

Chris Yao

11

$4.2B

3

$142M

4

$589M

I-10

 

             

Primary
Portfolio Manager

Registered Investment Companies

Total Assets Managed

Other Pooled Investment Vehicles

Total Assets Managed

Other Accounts

Total Assets Managed

Torrey Zaches

2

$740M

42

$21.0B

28

$5.0B

Syed A. Zamil

7

$1.8B

2

$471M

14

$923M

 

The following table provides information on accounts managed (included within the table above) by each primary portfolio manager that are subject to performance-based advisory fees.

       

Primary
Portfolio Manager

Type of Account

Number of Accounts
Subject to Performance Fees

Total Assets of Accounts

       

John Bailer

Other Accounts

2

$28M

Daniel Barton

None

N/A

N/A

Paul Benson

Other Accounts

1

$344M

David Bowser

None

N/A

N/A

James Boyd

None

N/A

N/A

Paul Brain

Other Accounts

1

$163M

E. Todd Briddell

None

N/A

N/A

Jeffrey Burger

None

N/A

N/A

Parmeshwar Chadha

None

N/A

N/A

Howard Cunningham

None

N/A

N/A

Dimitri Curtil

Registered Investment Companies

1

$30M

Vassilis Dagioglu

Registered Investment Companies

1

$31M

Thomas Durante

None

N/A

N/A

Brian C. Ferguson

Other Accounts

2

$88M

David France

None

N/A

N/A

Dean Frankel

Other Accounts

5

$550M

Todd Frysinger

None

N/A

N/A

Peter Goslin

Other Accounts

4

$723M

Suzanne Hutchins

None

N/A

N/A

David S. Intoppa

None

N/A

N/A

Matthew T. Jenkin

None

N/A

N/A

Patrick Kent

Other Pooled

1

$9M

 

Other Accounts

1

$29M

Monty A. Kori

None

N/A

N/A

Thomas Lee

None

N/A

N/A

Caroline Lee

None

N/A

N/A

Adam Logan

Other Accounts

4

$723M

James A. Lydotes

Other Pooled

2

$27M

 

Other Accounts

1

$414M

Julianne D. McHugh

None

N/A

N/A

Jeffrey M. Mortimer

None

N/A

N/A

Aron Pataki

Other Accounts

1

$51M

Nancy Rogers

Other Accounts

1

$344M

Donald Sauber

None

N/A

N/A

Vlasta Sheremeta

None

N/A

N/A

James Stavena

Registered Investment Companies

1

$30M

Rob Stewart

Other Accounts

1

$34M

Michael Stoll

None

N/A

N/A

Justin Sumner

None

N/A

N/A

I-11

 

       

Primary
Portfolio Manager

Type of Account

Number of Accounts
Subject to Performance Fees

Total Assets of Accounts

       

Erik Swords

None

N/A

N/A

Yuko Takano

None

N/A

N/A

Leigh N. Todd

None

N/A

N/A

Marlene Walker Smith

None

N/A

N/A

Andrew Warwick

None

N/A

N/A

Chris Yao

None

N/A

N/A

Torrey Zaches

Registered Investment Companies

1

$31M

Syed A. Zamil

Other Accounts

4

$723M

The following table lists the dollar range of fund shares beneficially owned by the primary portfolio manager(s) as of the end of the fund's last fiscal year, except if otherwise indicated.

     

Primary Portfolio Manager

Fund

Dollar Range of Fund Shares Beneficially Owned

     

John Bailer

BNYMDVF

$50,001 - $100,000

 

BNYMBOF

$100,001 - $500,000

Daniel Barton

BNYMNJMBF

None

Paul Benson

BNYMSBF

None

David Bowser

BNYMBOF

$50,001 - $100,000

James Boyd

BNYMOMVF

$100,001 - $500,000

 

BNYMOSCF

$100,001 - $500,000

Paul Brain

BNYMGDBIF

None

E. Todd Briddell

BNYMGRESF

None

Jeffrey Burger

BNYMNJMBF

None

Parmeshwar Chadha

BNYMGDBIF

None

Howard Cunningham

BNYMGDBIF

None

Dimitri Curtil

BNYMDTRF

None

Vassilis Dagioglu

BNYMDTRF

$100,001 - $500,000

 

BNYMBOF

$100,001 - $500,000

Thomas Durante

BNYMS&P

None

 

BNYMISIF

None

 

BNYMSSIF

$100,001 - $500,000

 

BNYMMIF

None

Brian C. Ferguson

BNYMDVF

Over $1,000,000

 

BNYMBOF

$100,001 - $500,000

David France

BNYMISIF

None

 

BNYMS&P

None

 

BNYMSSIF

$1 - $10,000

 

BNYMMIF

None

Dean Frankel

BNYMGRESF

None

Todd Frysinger

BNYMISIF

None

 

BNYMS&P

None

 

BNYMSSIF

$1 - $10,000

 

BNYMMIF

None

Peter Goslin

BNYMSMF

None

Suzanne Hutchins

BNYMGRRF

None

David S. Intoppa

BNYMDVF

$100,001 - $500,000

Matthew T. Jenkin

BNYMBOF

$50,001 - $100,000

 

BNYMRGF

None

I-12

 

     

Primary Portfolio Manager

Fund

Dollar Range of Fund Shares Beneficially Owned

     

Patrick Kent

BNYMOMVF

$50,001 - $100,000

 

BNYMOSCF

$50,001 - $100,000

Monty A. Kori

BNYMRGF

None

Thomas Lee

BNYMLCEF

None

Caroline Lee

BNYMDIF

None

Adam Logan

BNYMSMF

None

James A. Lydotes

BNYMBOF

$100,001 - $500,000

Julianne D. McHugh

BNYMEMSF

None

Jeffrey M. Mortimer

BNYMDIF

None

Aron Pataki

BNYMGRRF

None

Nancy Rogers

BNYMSBF

None

Donald Sauber

BNYMLCEF

None

Vlasta Sheremeta

BNYMISIF

None

 

BNYMS&P

None

 

BNYMSSIF

None

 

BNYMMIF

None

James Stavena

BNYMDTRF

$100,001 - $500,000

Rob Stewart

BNYMSBF

None

Michael Stoll

BNYMISIF

None

 

BNYMS&P

None

 

BNYMSSIF

$1 - $10,000

 

BNYMMIF

None

Justin Sumner

BNYMTGF

None

Erik Swords

BNYMRGF

$1 - $10,000

 

BNYMTGF

$100,001 - $500,000

Yuko Takano

BNYMSBF

None

Leigh N. Todd

BNYMBOF

$50,001 - $100,000

 

BNYMRGF

$10,001 - $50,000

Marlene Walker Smith

BNYMISIF

None

 

BNYMS&P

None

 

BNYMSSIF

None

 

BNYMMIF

None

Andrew Warwick

BNYMGRRF

None

Chris Yao

BNYMSMF

None

 

BNYMEMSF

None

Torrey Zaches

BNYMDTRF

$10,001 - $50,000

 

BNYMBOF

$10,001 - $50,000

Syed A. Zamil

BNYMSMF

None

MANAGER'S AND SUB-ADVISERS' COMPENSATION; COMPLIANCE SERVICES

Manager's and Sub-Advisers' Compensation

For each fund's last three fiscal years, the management fees payable by the fund, the reduction, if any, in the amount of the fee paid due to fee waivers and/or expense reimbursements by the Manager and the net fees paid by the fund were as follows:

I-13

 

                   
 

2020 Fiscal Year

2019 Fiscal Year

2018 Fiscal Year

Fund

Fee payable

Reduction in fee

Net fee paid

Fee payable

Reduction in fee

Net fee paid

Fee payable

Reduction in fee

Net fee paid

                   

BNYMBOF

$2,477,278

$0

$2,477,278

$2,495,664

$0

$2,495,664

$2,556,800

$127,261

$2,429,539

BNYMDTRF

$8,077,145

$390,494

$7,686,651

$11,765,210

$0

$11,765,210

$15,823,463

$1,314,770

$14,508,693

BNYMDVF

$7,855,972

$0

$7,855,972

$9,457,199

$0

$9,457,199

$11,249,954

$506,627

$10,743,327

BNYMGDBIF

$519,467

$36,474

$482,993

$390,093

$170,453

$219,640

$207,965

$207,965

$0

BNYMGRRF

$22,165,963

$2,522,350

$19,643,613

$17,042,934

$0

$17,042,934

$11,598,223

$42,349

$11,555,874

BNYMLCEF

$4,826,469

$0

$4,826,469

$4,445,625

$0

$4,445,625

$4,366,587

$350

$4,366,237

BNYMNJMBF

$2,557,145

$313,412

$2,243,733

$2,609,207

$333,164

$2,276,043

$2,667,887

$454,600

$2,213,287

BNYMOMVF

$3,564,477

$0

$3,564,477

$5,938,547

$0

$5,938,547

$8,090,272

$0

$8,090,272

BNYMOSCF

$3,350,321

$0

$3,350,321

$5,812,962

$0

$5,812,962

$8,698,110

$0

$8,698,110

BNYMSMF

$828,451

$5,660

$822,791

$1,200,415

$0

$1,200,415

$1,561,803

$250,290

$1,311,513

BNYMSBF1

$14,458

$14,458

$0

$34,447

$34,447

$0

$112,950

$112,950

$0

BNYMTGF

$2,309,825

$0

2,309,825

$2,318,614

$0

$2,318,614

$2,417,465

$0

$2,417,465

BNYMISIF

$1,941,986

$51,985

$1,890,001

$2,112,772

$57,996

$2,054,776

$2,136,221

$47,035

$2,089,186

BNYMS&P

$5,406,366

$218,930

$5,187,436

$5,817,370

$179,527

$5,637,843

$6,569,178

$237,971

$6,331,207

BNYMSSIF

$3,972,593

$210,540

$3,762,053

$5,255,915

$208,027

$5,047,888

$6,108,631

$187,954

$5,920,677

BNYMEMSF

$1,196,449

$0

$1,196,449

$1,401,485

$0

$1,401,485

$1,835,644

$0

$1,835,644

BNYMDIF2

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

BNYMGRESF

$5,205,288

$0

$5,205,288

$6,518,801

$0

$6,518,801

$6,651,354

$0

$6,651,354

BNYMMIF

$5,648,583

$276,500

$5,372,083

$7,298,762

$280,582

$7,018,180

$9,232,495

$279,966

$8,952,529

BNYMRGF

$12,646,600

$173,026

$12,473,574

$12,838,634

$0

$12,838,634

$13,220,398

$1,046,291

$12,174,107

1 Aggregate rate to the Manager and Newton.

2 The Manager receives no compensation for its management services to the fund. However, the Underlying Funds pay management fees to the Manager or its affiliates.

The contractual fee rates paid by the Manager to a fund's Sub-Adviser, if any, and the effective rate paid in the last fiscal year, are as follows (expressed as an annual rate as a percentage of the fund's average daily net assets):

       

Fund

Sub-Adviser

Fee Rate

Effective Fee Rate for the Last Fiscal Year

       

BNYMDTRF

Mellon

0.65%

0.65%

BNYMGDBIF

Newton

0.19%

0.19%

BNYMGRRF

Newton

0.36%

0.26%

BNYMSMF

Mellon

0 up to $100 million 0.25%
$100 million up to $1 billion 0.20%
$1 billion up to $1.5 billion 0.16%
$1.5 billion or more  0.10%

0.08%

BNYMSBF

Newton/Mellon

*

0.00%

BNYMGRESF

CenterSquare

0.46%

0.46%

* BNYMSBF operates pursuant to an exemptive order that permits it to disclose, as a dollar amount and a percentage of its net assets, the aggregate fees paid to the Manager, Mellon and Newton. Prior to April 1, 2019, the aggregate annual fee payable to the Manager and Newton was 0.55% of the value of the fund's average daily net assets. Effective April 1, 2019, Mellon was engaged as an additional Sub-Adviser of the fund. Effective April 1, 2019, the aggregate annual fee payable to the Manager, Mellon and Newton is 0.11% of the value of the fund's average daily net assets. No fee was paid by the fund to the Manager or by the Manager to Mellon or Newton for the last fiscal year.

For a fund's last three fiscal years (other than funds for which the Sub-Adviser's fee is disclosed on an aggregate basis above), the fees payable by the Manager to the fund's Sub-Adviser, if any, the reduction, if any, in the amount of the fee paid due to fee waivers by the Sub-Adviser and the net fees paid were as follows:

I-14

 

                   
 

2020 Fiscal Year End

2019 Fiscal Year End

2018 Fiscal Year

Fund/Sub-Adviser

Fee
payable

Reduction in fee

Net fee paid

Fee payable

Reduction in fee

Net fee paid

Fee payable

Reduction in fee

Net fee paid

                   

BNYMDTRF/ Mellon

$4,492,040

$0

$4,492,040

$6,558,203

$0

$6,558,203

$4,621,273

$1,314,770

$3,306,503

BNYMGDBIF/ Newton

$249,344

$5,016

$244,328

$179,885

$146,179

$33,706

$39

$39

$0

BNYMGRRF/ Newton

$10,639,662

$2,897,292

$7,742,370

$9,682,382

$320,836

$9,361,546

$6,253,900

$42,349

$6,211,551

BNYMSMF/ Mellon

$283,313

$191,113

$92,199

$302,843

$0

$302,843

$270,005

$250,290

$19,715

BNYMGRESF/ CenterSquare

$2,498,539

$103,329

$2,395,210

$3,129,024

$0

$3,129,024

$3,129,706

$190,599

$2,939,107

Compliance Services

The funds' compliance program is developed, implemented and maintained by the funds' CCO and his staff. The funds bear a portion of the CCO's compensation (which is approved by the boards), as well as the compensation of the CCO's staff and the expenses of the CCO and his staff (including administrative expenses). The CCO's staff works exclusively on the compliance program and related matters for the funds and other funds in the BNY Mellon Family of Funds and BNY Mellon Funds Trust, and compensation and expenses of the CCO and his staff generally are allocated among such funds based on an equal amount per fund with incremental amounts allocated to funds with more service providers (including Sub-Advisers). Such compensation and expenses for the funds' last fiscal years were as follows:

   

Fund

CCO and Staff Compensation and Expenses*

   

BNYMDTRF

$14,076

BNYMDVF

$13,975

BNYMGDBIF

$14,076

BNYMGRRF

$14,076

BNYMOMVF

$13,975

BNYMOSCF

$13,975

BNYMSMF

$13,975

BNYMSBF

$14,076

BNYMTGF

$13,975

BNYMISIF

$14,076

BNYMS&P

$14,076

BNYMSSIF

$14,076

BNYMEMSF

$14,781

BNYMBOF

$16,949

BNYMMIF

$14,076

BNYMNJMBF

$13,982

BNYMDIF

$11,261

BNYMGRESF

$14,076

BNYMLCEF

$13,982

BNYMRGF

$12,362

* For unitary fee funds, such compensation and expenses are borne by the Manager.

I-15

 

SECURITIES LENDING ACTIVITIES

The dollar amounts of income and fees and compensation paid to all service providers (including fees paid to BNYM Investment Adviser for cash collateral management and fees paid to BNY Mellon as securities lending agent), related to certain funds' securities lending activities during the most recent fiscal year* were as follows:

           

Fund

BNYMOMVF

BNYMOSCF

BNYMDVF

BNYMSMF

BNYMTGF

Gross income from securities lending activities (including income from cash collateral reinvestment)

$159,459

$790,149

$68,316

$27,598

$1,035,394

Fees and/or compensation for securities lending activities and related services

         

Fees paid to securities lending agent from a revenue split

$17,245

$123,486

$11,099

$4,672

$156,135

Fees paid for any cash collateral management service (including fees deducted from a pooled cash collateral reinvestment vehicle) that are not included in the revenue split

$0

$0

$0

$0

$0

Administrative fees not included in revenue split

$0

$0

$0

$0

$0

Indemnification fees not included in revenue split

$0

$0

$0

$0

$0

Rebate (paid to borrower)

$52,352

$0

$0

$0

$0

Other fees not included in revenue split

$0

$0

$0

$0

$0

Aggregate fees/compensation for securities lending activities

$69,597

$123,486

$11,099

$4,672

$156,135

Net income from securities lending activities

$89,862

$666,663

$57,217

$22,927

$879,259

 
             

Fund

BNYMGDBIF

BNYMGRRF

BNYMISIF

BNYMS&P

BNYMSSIF

BNYMMIF

Gross income from securities lending activities (including income from cash collateral reinvestment)

$12,810

$131,402

$34,754

$132,049

$651,733

$689,401

I-16

 

             

Fund

BNYMGDBIF

BNYMGRRF

BNYMISIF

BNYMS&P

BNYMSSIF

BNYMMIF

Fees and/or compensation for securities lending activities and related services

           

Fees paid to securities lending agent from a revenue split

$1,979

$21,014

$5,579

$21,618

$113,036

$113,524

Fees paid for any cash collateral management service (including fees deducted from a pooled cash collateral reinvestment vehicle) that are not included in the revenue split

$0

$0

$0

$0

$0

$0

Administrative fees not included in revenue split

$0

$0

$0

$0

$0

$0

Indemnification fees not included in revenue split

$0

$0

$0

$0

$0

$0

Rebate (paid to borrower)

$0

$0

$0

$0

$0

$0

Other fees not included in revenue split

$0

$0

$0

$0

$0

$0

Aggregate fees/compensation for securities lending activities

$1,979

$21,014

$5,579

$21,618

$113,036

$113,524

Net income from securities lending activities

$10,831

$110,387

$29,175

$110,431

$538,697

$575,876

I-17

 

           

Fund

BNYMBOF

BNYMLCEF

BNYMGRESF

BNYMRGF

BNYMEMSF

Gross income from securities lending activities (including income from cash collateral reinvestment)

$14,475

$23,604

$35,801

$290,875

$374

Fees and/or compensation for securities lending activities and related services

         

Fees paid to securities lending agent from a revenue split

$2,375

$3,690

$5,690

$51,593

$61

Fees paid for any cash collateral management service (including fees deducted from a pooled cash collateral reinvestment vehicle) that are not included in the revenue split

$0

$0

$0

$0

$0

Administrative fees not included in revenue split

$0

$0

$0

$0

$0

Indemnification fees not included in revenue split

$0

$0

$0

$0

$0

Rebate (paid to borrower)

$0

$212

$0

$0

$0

Other fees not included in revenue split

$0

$0

$0

$0

$0

Aggregate fees/compensation for securities lending activities

$2,375

$3,902

$5,690

$51,593

$61

Net income from securities lending activities

$12,100

$19,702

$30,111

$239,282

$313

* The services provided by BNY Mellon as securities lending agent are as follows: selection of securities to be loaned; utilization of borrowers previously approved by the funds' board; negotiation of loan terms; monitoring daily the value of the loaned securities and collateral; requiring additional collateral as necessary; investing cash collateral in accordance with the funds' instructions; marking to market non-cash collateral; maintaining custody of non-cash collateral; recordkeeping and account servicing; reporting dividend activity; transferring loaned securities; recalling loaned securities in accordance with the funds' instructions, including for proxies that the funds seek to vote; and arranging for return of loaned securities to the fund at loan termination.

BNYMSBF, BNYMDIF, BNYMDTRF and BNYMNJMBF did not engage in any securities lending activity during the most recent fiscal year. In addition, there is no current intention for BNYMSBF to engage in any securities lending activity.

SALES LOADS, CDSCS AND DISTRIBUTOR'S COMPENSATION

The following table lists, for each of the last three fiscal years, the total commissions on sales of all classes of shares (sales loads) (as applicable) and the total CDSCs on redemptions of all classes of shares (as applicable), along with corresponding amounts of each retained by the Distributor.

I-18

 

         

Fund

 

2020 Fiscal Year

2019 Fiscal Year

2018 Fiscal Year

         

BNYMBOF

Total commissions

$78,295

$74,004

$94,965

 

Commission amount retained

$9,053

$7,657

$10,097

 

Total CDSCs

$9,800

$375

$742

 

CDSC amount retained

$9,800

$375

$742

         

BNYMDTRF

Total commissions

$16,618

$37,125

$73,935

 

Commission amount retained

$1,711

$5,602

$7,184

 

Total CDSCs

$111

$1,185

$16,301

 

CDSC amount retained

$111

$1,185

$16,301

         

BNYMDVF

Total commissions

$44,921

$130,000

$186,366

 

Commission amount retained

$6,262

$11,204

$22,742

 

Total CDSCs

$28

$621

$3,647

 

CDSC amount retained

$28

$621

$3,647

         

BNYMGDBIF

Total commissions

$3,572

$640

$3,167

 

Commission amount retained

$250

$19

$201

 

Total CDSCs

$0

$0

$0

 

CDSC amount retained

$0

$0

$0

         

BNYMGRRF

Total commissions

$164,043

$228,249

$92,008

 

Commission amount retained

$14,517

$13,306

$6,340

 

Total CDSCs

$29,176

$1,995

$8,073

 

CDSC amount retained

$29,176

$1,995

$8,073

         

BNYMNJMBF

Total commissions

$10,517

$19,825

$21,869

 

Commission amount retained

$896

$445

$2,534

 

Total CDSCs

$95

$0

$99

 

CDSC amount retained

$95

$0

$99

         

BNYMLCEF

Total commissions

$2,730

$9,387

$8,030

 

Commission amount retained

$348

$1,226

$0

 

Total CDSCs

$0

$0

$0

 

CDSC amount retained

$0

$0

$0

         

BNYMOMVF

Total commissions

$25,787

$48,423

$125,560

 

Commission amount retained

$2,917

$6,925

$10,492

 

Total CDSCs

$486

$1,066

$5,432

 

CDSC amount retained

$486

$1,066

$5,432

         

BNYMSMF

Total commissions

$3,718

$13,920

$34,462

 

Commission amount retained

$292

$1,269

$4,118

 

Total CDSCs

$964

$159

$199

 

CDSC amount retained

$964

$159

$199

         

BNYMTGF

Total commissions

$89,901

$86,377

$143,309

 

Commission amount retained

$12,052

$7,514

$24,551

 

Total CDSCs

$1,097

$362

$704

 

CDSC amount retained

$1,097

$362

$704

         

BNYMEMSF

Total commissions

$1,782

$6,920

$20,177

I-19

 

         
 

Commission amount retained

$463

$790

$4,472

 

Total CDSCs

$649

$239

$347

 

CDSC amount retained

$649

$239

$347

         

BNYMDIF

Total commissions

$1,686

$447

$3,084

 

Commission amount retained

$211

$0

$548

 

Total CDSCs

$0

$0

$0

 

CDSC amount retained

$0

$0

$0

         

BNYMGRESF

Total commissions

$7,085

$9,374

$4,366

 

Commission amount retained

$980

$1,635

$448

 

Total CDSCs

$1,979

$0

$0

 

CDSC amount retained

$1,979

$0

$0

         

BNYMRGF

Total commissions

$97,609

$87,536

$67,195

 

Commission amount retained

$13,079

$11,179

$9,366

 

Total CDSCs

$317

$1,763

$6,632

 

CDSC amount retained

$317

$1,763

$6,632

         

I-20

 

The amounts paid by each fund to the Distributor under the fund's Plan or Plans, as applicable, for services described in Part II of this SAI under "Distribution Plans, Service Plans and Shareholder Services Plans" for the fund's last fiscal year were as follows:

             

Fund

Plan

Class

Distributor Payments

Printing and Implementation and Operation of Plan

Amount Reimbursed to Fund Pursuant to Undertaking in Effect

Total Amount

             

BNYMDTRF

Distribution Plan

Class C

$208,021

N/A

N/A

$208,021

 

Shareholder Services Plan

Class A

$90,832

N/A

N/A

$90,832

   

Class C

$69,340

N/A

N/A

$69,340

             

BNYMDVF

Distribution Plan

Class C

$99,616

N/A

N/A

$99,616

 

Shareholder Services Plan

Class A

$1,703,349

N/A

N/A

$1,703,349

   

Class C

$33,205

N/A

N/A

$33,205

             

BNYMGDBIF

Distribution Plan

Class C

$2,115

N/A

N/A

$2,115

 

Shareholder Services Plan

Class A

$11,160

N/A

N/A

$11,160

   

Class C

$705

N/A

N/A

$705

             

BNYMGRRF

Distribution Plan

Class C

$210,908

N/A

N/A

$210,908

 

Shareholder Services Plan

Class A

$95,091

N/A

N/A

$95,091

   

Class C

$70,303

N/A

N/A

$70,303

             

BNYMOMVF

Distribution Plan

Class C

$186,193

N/A

N/A

$186,193

 

Shareholder Services Plan

Class A

$754,232

N/A

N/A

$754,232

   

Class C

$62,064

N/A

N/A

$62,064

             

I-21

 

             

Fund

Plan

Class

Distributor Payments

Printing and Implementation and Operation of Plan

Amount Reimbursed to Fund Pursuant to Undertaking in Effect

Total Amount

             

BNYMOSCF

Shareholder Services Plan

Investor

$632,799

N/A

N/A

$632,799

             

BNYMSMF

Distribution Plan

Class C

$35,985

N/A

N/A

$35,985

 

Shareholder Services Plan

Class A

$170,906

N/A

N/A

$170,906

   

Class C

$11,995

N/A

N/A

$11,995

             

BNYMSBF

Shareholder Services Plan

Service Shares

$2,582

N/A

N/A

$2,582

             

BNYMTGF

Distribution Plan

Class C

$57,486

N/A

N/A

$57,486

 

Shareholder Services Plan

Class A

$697,515

N/A

N/A

$697,515

   

Class C

$19,162

N/A

N/A

$19,162

             

BNYMISIF

Shareholder Services Plan

Investor

$814,922

N/A

N/A

$814,922

             

BNYMS&P

Shareholder Services Plan

N/A

$5,406,366

N/A

N/A

$5,406,366

             

BNYMSSIF

Shareholder Services Plan

Investor

$3,337,809

N/A

N/A

$3,337,809

             

BNYMEMSF

Distribution Plan

Class C

$14,500

N/A

N/A

$14,500

 

Shareholder Services Plan

Class A

$94,878

N/A

N/A

$94,878

   

Class C

$4,833

N/A

N/A

$4,833

             

I-22

 

             

Fund

Plan

Class

Distributor Payments

Printing and Implementation and Operation of Plan

Amount Reimbursed to Fund Pursuant to Undertaking in Effect

Total Amount

             

BNYMBOF

Distribution Plan

Class C

$92,069

N/A

N/A

$92,069

 

Shareholder Services Plan

Class A

$587,922

N/A

N/A

$587,922

   

Class C

$30,690

N/A

N/A

$30,690

   

Class Z

$21,335

N/A

N/A

$21,335

             

BNYMMIF

Shareholder Services Plan

Investor

$4,051,745

N/A

N/A

$4,051,745

             

BNYMNJMBF

Distribution Plan

Class C

$17,913

N/A

N/A

$17,913

 

Shareholder Services Plan

Class A

$801,547

N/A

N/A

$801,547

   

Class C

$5,971

N/A

N/A

$5,971

   

Class Z

$46,684

N/A

N/A

$46,684

             

BNYMDIF

Distribution Plan

Class C

$1,446

N/A

N/A

$1,446

 

Shareholder Services Plan

Class A

$14,379

N/A

N/A

$14,379

   

Class C

$482

N/A

N/A

$482

             

BNYMGRESF

Distribution Plan

Class C

$5,902

N/A

N/A

$5,902

 

Shareholder Services Plan

Class A

$46,161

N/A

N/A

$46,161

   

Class C

$1,967

N/A

N/A

$1,967

             

BNYMLCEF

Distribution Plan

Class C

$5,857

N/A

N/A

$5,857

 

Shareholder Services Plan

Class A

$30,417

N/A

N/A

$30,417

   

Class C

$1,952

N/A

N/A

$1,952

I-23

 

             

Fund

Plan

Class

Distributor Payments

Printing and Implementation and Operation of Plan

Amount Reimbursed to Fund Pursuant to Undertaking in Effect

Total Amount

             

BNYMRGF

Distribution Plan

Class C

$234,997

N/A

N/A

$234,997

 

Shareholder Services Plan

Class A

$1,426,323

N/A

N/A

$1,426,323

   

Class C

$78,332

N/A

N/A

$78,332

   

Class Z

$283,718

N/A

N/A

$283,718

OFFERING PRICE
(Class A shares only)

Set forth below is an example of the method of computing the offering price of each fund's Class A shares. The example assumes a purchase of Class A shares aggregating less than $50,000, subject to the schedule of sales charges set forth in the fund's prospectus at a price based upon the NAV of a Class A share at the close of business on the last business day of the fund's last fiscal year, except as otherwise indicated. Certain purchases are not subject to a sales charge or are subject to a different sales charge than the one shown below. See the prospectus and "How to Buy Shares" in Part II of this SAI.

           

Fund

Class

NAV Per Share

Sales Charge as a Percentage of Offering Price and NAV Per Share

Per Share Sales Charge

Per Share Offering Price to Public

           

BNYMDTRF

Class A

$15.82

5.75% of offering price
(6.10% of NAV per share)

$0.97

$16.79

BNYMDVF

Class A

$33.28

5.75% of offering price
(6.10% of NAV per share)

$2.03

$35.31

BNYMGDBIF

Class A

$12.35

4.50% of offering price
(4.71% of NAV per share)

$0.58

$12.93

BNYMGRRF

Class A

$15.56

5.75% of offering price
(6.10% of NAV per share)

$0.95

$16.51

BNYMOMVF

Class A

$26.76

5.75% of offering price
(6.10% of NAV per share)

$1.63

$28.39

BNYMSMF

Class A

$23.99

5.75% of offering price
(6.10% of NAV per share)

$1.46

$25.45

BNYMTGF

Class A

$62.07

5.75% of offering price
(6.10% of NAV per share)

$3.79

$65.86

I-24

 

           

Fund

Class

NAV Per Share

Sales Charge as a Percentage of Offering Price and NAV Per Share

Per Share Sales Charge

Per Share Offering Price to Public

           

BNYMEMSF

Class A

$8.80

5.75% of offering price
(6.10% of NAV per share)

$0.54

$9.34

BNYMBOF

Class A

$24.82

5.75% of offering price
(6.10% of NAV per share)

$1.51

$26.33

BNYMNJMBF

Class A

$13.14

4.50% of offering price
(4.71% of NAV per share)

$0.62

$13.76

BNYMDIF

Class A

$12.75

5.75% of offering price
(6.10% of NAV per share)

$0.78

$13.53

BNYMGRESF

Class A

$7.62

5.75% of offering price
(6.10% of NAV per share)

$0.46

$8.08

BNYMLCEF

Class A

$24.31

5.75% of offering price
(6.10% of NAV per share)

$1.48

$25.79

BNYMRGF

Class A

$14.68

5.75% of offering price
(6.10% of NAV per share)

$0.90

$15.58

RATINGS OF MUNICIPAL BONDS

The average distribution of investments (at value) in Municipal Bonds (including notes) by ratings for the last fiscal year, computed on a monthly basis, for each fund that focuses its investments in Municipal Bonds was as follows:

       

Fitch

Moody's

S&P

BNYMNJMBF

       

AAA

Aaa

AAA

0.8%

AA

Aa

AA

39.4%

A

A

A

30.5%

BBB

Baa

BBB

24.8%

BB

Ba

BB

3.7%

B

B

B

0.3%

F1

MIG1/P1

SP1/A1

0.5%

Not Rated

Not Rated

Not Rated

-

Total

100.0%

RATINGS OF CORPORATE DEBT SECURITIES

The average distribution of investments (at value) in corporate debt securities (excluding any preferred stock, convertible preferred stock or convertible bonds) by ratings for the last fiscal year, computed on a monthly basis, for each fund that focuses its investments in corporate debt securities was as follows:

       

Fitch

Moody's

S&P

BNYMGDBIF

       

AAA

Aaa

AAA

17.3%

I-25

 

       

Fitch

Moody's

S&P

BNYMGDBIF

       

AA

Aa

AA

14.7%

A

A

A

7.5%

BBB

Baa

BBB

17.4%

BB

Ba

BB

20.2%

B

B

B

10.3%

CCC

Caa

CCC

0.6%

CC

Ca

CC

0.2%

Not Rated

Not Rated

Not Rated

4.0%*

Total

92.2%**

* Those securities which are not rated have been determined by the Manager to be of comparable quality to securities in the following categories: AA/Aa (0.6%), A/A (0.1%), BBB/Baa (3.2%) and BB/Ba (0.1%).

** BNYMGDBIF also owns equity securities (7.8%).

SECURITIES OF REGULAR BROKERS OR DEALERS

A fund may acquire securities issued by one or more of its "regular brokers or dealers," as defined in Rule 10b-1 under the 1940 Act. Rule 10b-1 provides that a "regular broker or dealer" is one of the ten brokers or dealers that, during the fund's last fiscal year: (1) received the greatest dollar amount of brokerage commissions from participating, either directly or indirectly, in the fund's portfolio transactions, (2) engaged as principal in the largest dollar amount of the fund's portfolio transactions or (3) sold the largest dollar amount of the fund's securities. The following is a list of the issuers of the securities, and the aggregate value per issuer, of a fund's regular brokers or dealers held by such fund as of the end of its last fiscal year:

     

Fund

Regular Broker or Dealer

Aggregate Value Per Issuer

     

BNYMDTRF

N/A

 
     

BNYMDVF

J.P. Morgan Securities LLC

$48,238,880

 

Morgan Stanley & Co. LLC

$34,480,834

     

BNYMGDBIF

J.P. Morgan Securities LLC

$1,046,708

 

Citigroup Global Markets Inc.

$830,699

     

BNYMGRRF

J.P. Morgan Securities LLC

$19,519,900

     

BNYMOMVF

N/A

 
     

BNYMOSCF

N/A

 
     

BNYMSMF

N/A

 
     

BNYMSBF

Goldman Sachs & Co. LLC

$81,875

 

Citigroup Global Markets Inc.

$129,140

 

Barclays Capital Inc.

$47,268

 

HSBC Securities (USA) Inc.

$11,257

     

BNYMTGF

N/A

 
     

BNYMISIF

UBS Securities LLC

$1,541,275

 

SG Americas Securities, LLC

$11,800

I-26

 

     

Fund

Regular Broker or Dealer

Aggregate Value Per Issuer

     
 

HSBC Securities (USA) Inc.

$739,787

 

Credit Suisse Securities (USA) LLC

$88,716

 

Macquarie Capital Markets North America Ltd.

$12,189

     

BNYMS&P

Goldman Sachs & Co. LLC

$4,950,012

 

J.P. Morgan Securities LLC

$22,791,653

 

Morgan Stanley & Co. LLC

$5,225,671

 

Cititgroup Global Markets Inc.

$6,560,638

     

BNYMSSIF

N/A

 
     

BNYMEMSF

N/A

 
     

BNYMBOF

J.P. Morgan Securities LLC

$4,950,020

 

Morgan Stanley & Co. LLC

$2,872,918

 

Merrill Lynch, Pierce, Fenner & Smith Incorporated

$788,471

     

BNYMMIF

N/A

 
     

BNYMNJMBF

N/A

 
     

BNYMDIF

N/A

 
     

BNYMGRESF

N/A

 
     

BNYMLCEF

J.P. Morgan Securities LLC

$16,588,226

 

Merrill Lynch, Pierce, Fenner & Smith Incorporated

$9,232,850

     

BNYMRGF

N/A

 
     

* N/A = Not Applicable.

COMMISSIONS

The approximate aggregate amounts of commissions paid by each fund for brokerage commissions for its last three fiscal years, none of which were paid to Affiliated Brokers,* were as follows:

       

Fund

2020 Fiscal Year

2019 Fiscal Year

2018 Fiscal Year

Commissions

Commissions

Commissions

       

BNYMBOF

$113,589

$104,737

$114,149

BNYMDTRF

$660,863

$1,032,250

$998,894

BNYMDVF

$940,826

$1,082,531

$1,372,521

BNYMGDBIF

$7,873

$9,319

$6,606

BNYMGRRF

$1,551,507

$1,306,747

$414,953

BNYMLCEF

$182,995

$352,685

$317,420

BNYMNJMBF

N/A

N/A

N/A

BNYMOMVF

$296,012

$775,542

$1,245,565

BNYMOSCF

$567,240

$1,476,151

$1,531,107

I-27

 

       

BNYMSMF

$67,862

$106,128

$92,642

BNYMSBF

$1,056

$4,019

$7,797

BNYMTGF

$167,548

$126,694

$92,302

BNYMISIF

$22,638

$31,834

$20,707

BNYMS&P

$16,271

$19,753

$19,259

BNYMSSIF