BNY Mellon Global Absolute Return Fund Institutional W Income

OBJECTIVE To deliver positive returns on an annual basis. The Fund aims to deliver returns before fees within a range of cash (SONIA (90-day compounded)) on a rolling 12-month basis and cash (SONIA (90-day compounded)) +4%per annum on a rolling annualised five year basis. However, a positive return is not guaranteed and a capital loss may occur. POLICY The Fund will: – gain exposure to a wide range of asset classes such as company shares (i.e. equities) and similar investments, bonds and similar debt investments and cash including investing in collective investment schemes that themselves invest anywhere in the world; – invest in derivatives (financial instruments whose value is derived from other assets) to help achieve the Fund's investment objective. The Fund will also use derivatives with the aim of risk or cost reduction or to generate additional capital or income; and – gain exposure to commodities (e.g. gold) and property through stock exchange listed investments and/or derivatives. The Fund may: – directly invest in a wide range of asset classes; – employ strategies known as 'long/short' strategies which means that it will increase exposure (i.e. go long) to an investment it favours and short (using derivatives) other investments which it does not favour. These strategies may result in the Fund being leveraged. Leverage magnifies the exposure of the Fund to greater than the underlying investments. In such situations, returns may rise or fall more than they would have done otherwise, reflecting such additional exposure; – invest significantly in cash and cash-like investments; and – invest up to 10% of its assets in collective investment schemes, including those which are managed or operated by the authorised corporate director (ACD) or an associate of the ACD. Benchmark: The Fund will measure its performance before fees against SONIA (90-day compounded) on a rolling 12-month basis (the "12 month Benchmark") and SONIA (90-day compounded) + 4% per annum on a rolling annualised five year basis (the "5 year Benchmark"). SONIA is a nearly risk-free rate meaning no bank credit risk is included, the rate can rise or fall as a result of central bank policy decisions or changing economic conditions. The Fund will use the 12 month Benchmark as a lower threshold for the Fund's performance to match or exceed over a rolling 12 month period, as it is representative of cash; and the 5 year Benchmark as an upper threshold for its performance to match or exceed over a rolling annualised 5 year basis, as it is consistent with the level of risk that the Fund takes. The Fund is actively managed, which means the Investment Manager has discretion over the selection of investments, subject to the investment objective and policies as disclosed in the Prospectus. OTHER INFORMATION Treatment of income: income generated will be paid to shareholders annually on or before 31 August. The value of your investment will decrease once the income is paid to you. Dealing: you can buy and sell your shares in the Fund between 9:00 and 17:00 (UK time) on each business day in England and Wales. Instructions received before 12:00 will receive the price quoted on that day. The minimum initial investment for this share class is GBP 500,000.