BNY Mellon Absolute Return Bond Fund Sterling W Acc Hedged

To provide a positive absolute return in all market conditions over a rolling 12 month period by investing primarily in debt and debt-related securities and instruments located worldwide and in financial derivative instruments relating to such securities and instruments. The Sub-Fund aims to deliver cash 3 month GBP LIBOR + 3% on a rolling annualised 3 year basis before fees. In doing so, the Fund aims to achieve a positive return over a rolling 12 month period. However, a positive return is not guaranteed and a capital loss may occur. The Fund will: invest anywhere in the world; invest in bonds and similar debt investments issued by governments, companies and other public entities; invest in bonds with high and low credit ratings (i.e. investment grade and/or sub-investment grade bonds without restrictions on credit quality as rated by Standard and Poor's or similar agencies); invest in derivatives (i.e. financial contracts whose value is linked to the expected price movements of an underlying investment) with the aim of generating returns and reducing the overall costs and/or risks of the Fund.The Fund will take positions in specific pairs of bonds or similar debt investments. The Fund will increase exposure (i.e. hold a long position) to the investment it favours and short (using derivatives) the investment 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 in currency investments; invest significantly in cash and cash-like investments; use techniques to reduce the effects of changes in the exchange rate between the share class currency and the base currency (i.e. the reporting currency) of the Fund; and limit investment in other collective investment schemes to 10%. The Fund may: invest in emerging markets; and invest in structured products. A structured product is a type of investment that is usually manufactured by a financial institution. Structured products are designed to give investors exposure to a particular type of underlying financial asset, and therefore the return from a structured product is likely to be closely linked to the performance of the underlying asset. Structured products may be used as a way of gaining exposure to the performance of assets that would otherwise be difficult to obtain.