STATEMENT OF ADDITIONAL INFORMATION
January 18, 2024, as revised or amended,
March
1, 2024, March 29, 2024, May 1, 2024, June 28, 2024 and August 30, 2024
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, for the money market funds, www.dreyfus.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 | Prospectus Date |
BNY Mellon Advantage Funds, Inc. | BNYMAD | |||
BNY Mellon Dynamic Total Return Fund | BNYMDTRF | Class A/AVGAX | March 1st | |
Class C/AVGCX | ||||
Class I/AVGRX | ||||
Class Y/AVGYX | ||||
BNY Mellon Dynamic Value Fund | BNYMDVF | Class A/DAGVX | December 29th | |
Class C/DCGVX | ||||
Class I/DRGVX | ||||
Class Y/DRGYX | ||||
BNY Mellon Global Dynamic Bond Income Fund | BNYMGDBIF | Class A/DGDAX | March 1st | |
Class C/DGDCX | ||||
Class I/DGDIX | ||||
Class Y/DGDYX | ||||
BNY Mellon Global Real Return Fund | BNYMGRRF | Class A/DRRAX | March 1st | |
Class C/DRRCX | ||||
Class I/DRRIX | ||||
Class Y/DRRYX | ||||
BNY Mellon Opportunistic Midcap Value Fund | BNYMOMVF | Class A/DMCVX | December 29th | |
Class C/DVLCX | ||||
Class I/DVLIX | ||||
Class Y/DMCYX | ||||
BNY Mellon Opportunistic Small Cap Fund | BNYMOSCF | Investor/DSCVX | December 29th | |
Class I/DOPIX | ||||
Class Y/DSCYX | ||||
BNY Mellon Technology Growth Fund | BNYMTGF | Class A/DTGRX | December 29th | |
Class C/DTGCX | ||||
Class I/DGVRX |
|
Fund | Abbreviation | Share Class/Ticker | Fiscal Year | Prospectus Date |
Class Y/DTEYX | ||||
BNY Mellon Appreciation Fund, Inc. | BNYMAF | Investor/DGAGX | May 1st | |
Class I/DGIGX | ||||
Class Y/DGYGX | ||||
BNY Mellon Index Funds, Inc. | BNYMIF | |||
BNY Mellon International Stock Index Fund | BNYMISIF | Investor/DIISX | March 1st | |
Class I/DINIX | ||||
BNY Mellon S&P 500 Index Fund | BNYMS&P | PEOPX | March 1st | |
BNY Mellon Smallcap Stock Index Fund | BNYMSSIF | Investor/DISSX | March 1st | |
Class I/DISIX | ||||
BNY Mellon Investment Funds V, Inc. | BNYMIFV | |||
BNY Mellon Developed Markets Real Estate Securities Fund | BNYMDMRESF | Class A/DRLAX | March 1st | |
Class C/DGBCX | ||||
Class I/DRLIX | ||||
Class Y/DRLYX | ||||
BNY Mellon Large Cap Equity Fund | BNYMLCEF | Class A/DLQAX | May 1st | |
Class C/DEYCX | ||||
Class I/DLQIX | ||||
Class Y/DLACX | ||||
BNY Mellon Investment Funds VI | BNYMIFVI | |||
BNY Mellon Balanced Opportunity Fund | BNYMBOF | Class A/DBOAX | March 29th | |
Class C/DBOCX | ||||
Class I/DBORX | ||||
Class J/THPBX | ||||
Class Y/DBOYX | ||||
Class Z/DBOZX | ||||
BNY Mellon Midcap Index Fund, Inc. | BNYMMIF | Investor/PESPX | March 1st | |
Class I/DMIDX | ||||
BNY Mellon New Jersey Municipal Bond Fund, Inc. | BNYMNJMBF | Class A/DRNJX | May 1st | |
Class C/DCNJX | ||||
Class I/DNMIX | ||||
Class Y/DNJYX | ||||
Class Z/DZNJX | ||||
BNY Mellon New York AMT-Free Municipal Bond Fund | BNYMNYAFMBF | Class A/PSNYX | March 29th | |
Class C/PNYCX | ||||
Class I/DNYIX | ||||
Class Y/DNYYX | ||||
Class Z/DNYAX | ||||
BNY Mellon Opportunistic Municipal Securities Fund | BNYMOMSF | Class A/PTEBX | August 30th | |
Class C/DMBCX | ||||
Class I/DMBVX | ||||
Class Y/DMBYX | ||||
Class Z/DMBZX | ||||
BNY Mellon Research Growth Fund, Inc. | BNYMRGF | Class A/DWOAX | June 28th | |
Class C/DWOCX | ||||
Class I/DWOIX |
Fund | Abbreviation | Share Class/Ticker | Fiscal Year | Prospectus Date |
Class Y/DRYQX | ||||
Class Z/DREQX | ||||
BNY Mellon Worldwide Growth Fund, Inc. | BNYMWGF | Class A/PGROX | March 1st | |
Class C/PGRCX | ||||
Class I/DPWRX | ||||
Class Y/DPRIX | ||||
General Money Market Fund, Inc. | GMMF | |||
Dreyfus Money Market Fund | DMMF | Wealth/GMMXX | March 29th | |
Service/GMBXX | ||||
Premier/GMGXX | ||||
General Municipal Money Market Funds, Inc. | GMMMFI | |||
Dreyfus National Municipal Money Market Fund | DNMMMF | Wealth/GTMXX | March 29th | |
Service/GBMXX | ||||
Premier/GMHXX | ||||
General New York Municipal Money Market Fund | GNYMMMF | |||
Dreyfus New York Municipal Money Market Fund | DNYMMMF | Wealth/GNMXX | March 29th | |
Service/GNYXX | ||||
Premier/GNBXX |
* 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.
TABLE OF CONTENTS
PART I
Information About Each Board Member's Experience, Qualifications, Attributes or Skills | |
PART II
DISTRIBUTION PLANS, NON-RULE 12b-1 SERVICES PLANS AND SHAREHOLDER SERVICES PLANS | |
PART III
Taxable Investments (municipal or other tax-exempt funds only) | |
Commodities and Commodity-Related Instruments, Including Commodity ETPs | |
Taxable Investments (municipal or other tax-exempt funds only) | |
U.S. Municipal Short-Term Debt and Demand Obligation Ratings | |
Structured, Project & Public Finance Obligations — Long-Term Rating Scales | |
PART I
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 | Principal Occupation During Past 5 Years | Other Public Company Board Memberships During Past 5 Years |
Joseph S. DiMartino | 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 (1997 – May 2023) |
Francine
J. Bovich | The Bradley Trusts, private trust funds, Trustee (2011 – Present) | Annaly Capital Management, Inc., a real estate investment trust, Director (2014 – Present) |
Peggy C. Davis | Shad Professor of Law, New York University School of Law (1983 – Present) | N/A |
Michael D. DiLecce | Retired since July 2022. Global Asset Management Assurance Leader, Ernst & Young LLP (2015 – 2022); Americas Regional Talent Managing Partner for Ernst & Young's Financial Service Practice (2017 – 2021); Partner, Ernst & Young LLP (1997 – 2022) | N/A |
Gina D. France | France Strategic Partners, a strategy and advisory firm serving corporate clients across the United States, Founder, President and Chief Executive Officer (2003 – 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 – May 2023) CBIZ, Inc., a public company providing professional business services, products and solutions, Director (2015 – Present) |
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Name | Principal Occupation During Past 5 Years | Other Public Company Board Memberships During Past 5 Years |
Joan L. Gulley | Nantucket Atheneum, public library, Chair (June 2018 – June 2021) and Director (2015 – June 2021) Orchard Island Club, golf and beach club, Governor (2016 – Present) and President (February 2023 – Present) | N/A |
Nathan
Leventhal | Lincoln Center for the Performing Arts, President Emeritus (2001 – Present) Palm Beach Opera, President (2016 – 2023) | Movado Group, Inc., a public company that designs, sources, markets and distributes watches, Director (2003 – 2020) |
Robin
A. Melvin | Westover School, a private girls' boarding school in Middlebury, Connecticut, Trustee (2019 – June 2023) Mentor Illinois, a non-profit organization dedicated to increasing the quantity and quality of mentoring services in Illinois, Co-Chair (2014 – March 2020); Board Member (2013 – March 2020) JDRF, a non-profit juvenile diabetes research foundation, Board Member (June 2021 – June 2022) | HPS Corporate Lending Fund, a closed-end management investment company regulated as a business development company, Trustee (August 2021 – Present) HPS Corporate Capital Solutions Fund, a closed-end management investment company regulated as a business development company, Trustee (December 2023 – Present) Northwestern Memorial Hospital, an academic medical center, Board Member (March 2024-Present) |
1 Each board member serves on the boards' Audit, Nominating, Compensation and Litigation Committees, except that Mr. DiMartino does not serve on the Compensation Committees.
The following table shows the year each board member joined each fund's board.
Fund | Joseph S. DiMartino | Francine J. Bovich | Peggy C. Davis | Michael D. DiLecce1 | Gina D. France | Joan L. Gulley | Nathan Leventhal | Robin A. Melvin |
BNYMAD | 1995 | 2024 | 2006 | 2024 | 2019 | 2017 | 2024 | 2012 |
BNYMAF | 1995 | 2012 | 1990 | 2024 | 2024 | 2024 | 1989 | 2012 |
BNYMIF | 1995 | 2024 | 2006 | 2024 | 2019 | 2017 | 2024 | 2012 |
BNYMIFV | 1995 | 2024 | 2012 | 2024 | 2019 | 2017 | 2024 | 2011 |
BNYMIFVI | 2003 | 2024 | 2006 | 2024 | 2019 | 2017 | 2024 | 2012 |
BNYMMIF | 1995 | 2024 | 2006 | 2024 | 2019 | 2017 | 2024 | 2012 |
BNYMNJMBF | 1995 | 2024 | 2012 | 2024 | 2019 | 2017 | 2024 | 2011 |
BNYMNYAFMBF | 1995 | 2012 | 1990 | 2024 | 2024 | 2024 | 1989 | 2012 |
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Fund | Joseph S. DiMartino | Francine J. Bovich | Peggy C. Davis | Michael D. DiLecce1 | Gina D. France | Joan L. Gulley | Nathan Leventhal | Robin A. Melvin |
BNYMOMSF | 1995 | 2012 | 1990 | 2024 | 2024 | 2024 | 1989 | 2012 |
BNYMRGF | 1995 | 2024 | 2006 | 2024 | 2019 | 2017 | 2024 | 2012 |
BNYMWGF | 1995 | 2012 | 1990 | 2024 | 2024 | 2024 | 1989 | 2012 |
GMMF | 1995 | 2012 | 1990 | 2024 | 2024 | 2024 | 1989 | 2012 |
GMMMFI | 1995 | 2012 | 1990 | 2024 | 2024 | 2024 | 1989 | 2012 |
GNYMMMF | 1995 | 2012 | 1990 | 2024 | 2024 | 2024 | 1989 | 2012 |
1 Mr. DiLecce served as an advisory board member to each of BNYMAD, BNYMIF, BNYMIFV, BNYMIFVI, BNYMMIF, BNYMNJMBF, BNYMRGF, BNYMSIF, and BNYMVIF from October 2022 until he was elected to the board of each fund, effective January 1, 2024.
Each board member, except Mses. Bovich, France and Gulley and Mr. DiLecce, has been a BNY Mellon Family of Funds board member for over 20 years. Ms. Bovich has been in the asset management business for 40 years, Ms. France has more than 35 years of strategy, investment banking and corporate finance experience, Ms. Gulley was in the asset management business for more than 30 years prior to her retirement in 2014, and Mr. DiLecce has over 30 years of experience as an accountant with independent registered public accounting firms. 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 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 BNYM Investment Adviser, and also may benefit from information provided by BNYM Investment Adviser'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.
Independent Board Members
· 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 Corp. (prior to its acquisition by a predecessor of The Bank of New York Mellon Corporation 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 Corp. 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.
· Francine J. Bovich – Ms. Bovich currently also serves as a Trustee for The Bradley Trusts, private trust funds, and as a Director of Annaly Capital Management, Inc. She is an Emeritus Trustee of Connecticut College, and served as a Trustee from 1986 to 1997. She currently serves as a member of the Investment Committee (formerly, the Investment Sub Committee) for Connecticut College's endowment fund and served as Chair of
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the Investment Sub Committee until June 2020. From April 1993 until September 2010, Ms. Bovich was a Managing Director at Morgan Stanley Investment Management, holding various positions including Co-Head of Global Tactical Asset Allocation Group, Operations Officer, and Head of the U.S. Institutional Equity Group. Prior to joining Morgan Stanley Investment Management, Ms. Bovich was Principal, Executive Vice President and Senior Portfolio Manager at Westwood Management Corporation, where she worked from 1986 until 1993. From 1980 to 1986, she worked at CitiCorp Investment Management, Inc. as Managing Director and Senior Portfolio Manager. From 1973 to 1980, Ms. Bovich was an Assistant Vice President and Equity Portfolio Manager at Bankers Trust Company. From 1991 to 2005, she served as U.S. Representative to the United Nations Investments Committee, advising a global portfolio of approximately $30 billion.
· 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.
· Michael D. DiLecce – Mr. DiLecce retired as a Partner at the accounting firm of Ernst & Young LLP in June 2022. Mr. DiLecce has substantial accounting, investment management, and executive experience serving firms within the investment management industry. From August 1983 to June 2022, Mr. DiLecce was an auditor at Ernst & Young LLP where he served as Global Assurance Leader of Asset Management and as the audit partner for various investment company complexes. In addition, from July 2017 to June 2021, Mr. DiLecce was the Americas Regional Talent Managing Partner for Ernst & Young's Financial Service practice. He was an Assurance Partner at Ernst & Young LLP from 1997 to 2022. Mr. DiLecce currently serves as an Advisory Board Member of Welsh, Carson, Anderson & Stowe, a private equity firm focusing on investments in technology and healthcare companies.
· 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 served as Director of Cedar Fair, L.P. from 2011 to May 2023, and served as a Trustee of Dance Cleveland, a non-profit, from 2001 to June 2023.
· 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 a Governor and President of the Orchard Island Club and from 2015 to 2021 served on the Board of Trustees of the Nantucket Atheneum.
· Nathan Leventhal – Mr. Leventhal was previously a Commissioner of the New York City Planning Commission. Previously, Mr. Leventhal served in a number of senior positions in New York City Government,
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including Fiscal Director of the Human Resources Administration and Chief of Staff to Mayor John V. Lindsay, Deputy Mayor to Mayor Ed Koch and Transition Chairman for both Mayors David Dinkins and Michael Bloomberg. Mr. Leventhal is a former partner in the law firm Poletti Freidin Prashker Feldman & Gartner. Mr. Leventhal is a member of the Budget and Finance Committee of the Town of Southampton in Suffolk County New York. In the not-for-profit sector, Mr. Leventhal served as President of the Palm Beach Opera from 2016 to 2023 and served as President of Lincoln Center for the Performing Arts and Chairman of the Avery Fisher Artist Program; he is now President Emeritus of Lincoln Center for the Performing Arts.
· 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 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. Ms. Melvin served as a Board member of JDRF, a non-profit juvenile diabetes research foundation from June 2021 to June 2022. She also serves as a Trustee of HPS Corporate Lending Fund (August 2021 to present) and HPS Corporate Capital Solutions Fund (December 2023 to present), each a closed-end management investment company regulated as a business development company, and a Director with Northwestern Memorial Hospital Board of Directors (March 2024 to present), an academic medical center, and served as a Trustee of Westover School, a private girls boarding school in Middlebury, Connecticut, from 2019 to June 2023.
The boards' standing Audit, Nominating, Compensation and Litigation Committees met during the funds' last fiscal years as indicated below:
Fund | Audit | Nominating | Compensation | Litigation |
BNYMAD (8/31 fiscal year end) | 4 | 1 | 0 | 0 |
BNYMAD (10/31 fiscal year end) | 4 | 1 | 1 | 0 |
BNYMAF | 4 | 1 | 1 | 0 |
BNYMIF | 4 | 1 | 1 | 0 |
BNYMIFV (10/31 fiscal year end) | 4 | 1 | 1 | 0 |
BNYMIFV (12/31 fiscal year end) | 4 | 1 | 1 | 0 |
BNYMIFVI | 4 | 1 | 0 | 0 |
BNYMMIF | 4 | 1 | 1 | 0 |
BNYMNJMBF | 4 | 1 | 0 | 0 |
BNYMNYAFMBF | 4 | 1 | 1 | 0 |
BNYMOMSF | 4 | 1 | 1 | 0 |
BNYMRGF | 4 | 1 | 1 | 0 |
BNYMWGF | 4 | 1 | 1 | 0 |
GMMF | 4 | 0 | 0 | 0 |
GMMMFI | 4 | 0 | 0 | 0 |
GNYMMMF | 4 | 0 | 0 | 0 |
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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, 2023.
Fund | Joseph S. DiMartino | Francine J. Bovich | Peggy C. Davis | Michael D. DiLecce | Gina D. France | Joan L. Gulley | Nathan Leventhal | Robin A. Melvin |
BNYMAF | None | None | $10,001
– | None | $10,001 – | None | $10,001 – | None |
BNYMDTRF | None | None | None | None | None | None | None | None |
BNYMDVF | None | None | None | None | None | Over | None | None |
BNYMGDBIF | None | None | None | None | None | None | None | None |
BNYMGRRF | None | None | None | None | None | None | None | $1
– |
BNYMOMVF | None | None | None | None | None | $50,001 – | None | None |
BNYMOSCF | None | None | None | None | None | $10,001
– | None | None |
BNYMTGF | None | None | None | None | $10,001 – | None | $10,001 – | None |
BNYMISIF | None | None | None | None | None | None | None | None |
BNYMS&P | None | None | None | None | None | None | None | None |
BNYMSSIF | None | None | None | None | None | None | None | None |
BNYMDMRESF | None | None | None | None | None | $10,001 – | None | $1 – |
BNYMLCEF | None | None | None | None | None | None | None | None |
BNYMBOF | None | None | None | None | None | None | None | None |
BNYMMIF | None | None | None | None | None | None | None | None |
BNYMNJMBF | None | None | None | None | None | None | None | None |
BNYMNYAFMBF | None | None | None | None | None | None | None | None |
BNYMOMSF | None | None | None | None | None | None | None | None |
BNYMRGF | None | None | None | None | $10,001
– | None | None | None |
BNYMWGF | None | None | None | None | None | None | None | $1 – |
DMMF | Over | None | None | None | $1
– | None | None | None |
DNMMMF | None | None | None | None | None | None | None | None |
DNYMMMF | None | None | None | None | None | None | None | None |
Aggregate holdings of funds in the BNY Mellon Family of Funds | Over $100,000 | $50,001 –$100,000 | $50,001 – $100,000 | None | Over $100,000 | Over $100,000 | Over $100,000 | $10,001 – $50,000 |
See "Share Ownership" below for information on the shareholdings of each fund by board members and officers as a group.
As of December 31, 2023, none of the board members or their immediate family members owned securities of BNYM Investment Adviser, 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 BNYM Investment Adviser, any Sub-Advisers or the Distributor.
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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. An 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 funds' emeritus program was discontinued for current board members in November 2021.
The aggregate amount of fees received from the funds by each current board member and emeritus board member for the funds' last fiscal years, and by all funds in the fund complex (which comprises registered investment companies for which BNYM Investment Adviser or an affiliate of BNYM Investment Adviser serves as investment adviser) for which such person was a board member, advisory board member or emeritus board member during 2023, were as follows:†
Independent Board Members | ||||
Fund | Joseph S. DiMartino | Francine J. Bovich | Peggy C. Davis | Michael D. DiLecce+ |
BNYMAD | $40,768 | N/A | $32,614 | $27,522 |
BNYMAD | $34,965 | N/A | $27,972 | $28,322 |
BNYMAF | $53,264 | $43,209 | $43,209 | N/A |
BNYMIF | $43,083 | N/A | $34,466 | $35,061 |
BNYMIFV | $6,768 | N/A | $5,414 | $5,497 |
BNYMIFV | $5,598 | N/A | $4,478 | $4,478 |
BNYMIFVI | $3,230 | N/A | $2,584 | $2,629 |
BNYMMIF | $19,143 | N/A | $15,314 | $15,573 |
BNYMNJMBF | $4,036 | N/A | $3,228 | $3,228 |
BNYMNYAFMBF | $5,800 | $4,703 | $4,703 | N/A |
BNYMOMSF | $11,145 | $9,044 | $9,044 | $1,016 |
BNYMRGF | $16,345 | N/A | $13,076 | $13,076 |
BNYMWGF | $24,669 | $20,033 | $20,033 | N/A |
GMMF | $58,744 | $47,673 | $47,673 | N/A |
GMMMFI | $16,883 | $13,706 | $13,706 | N/A |
GNYMMMF | $2,814 | $2,287 | $2,287 | N/A |
Total
compensation from the funds and | $1,168,125 | $601,500 | $320,500 | $178,500 |
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Independent Board Members | ||||
Fund | Gina D. France | Joan L. Gulley | Nathan Leventhal | Robin A. Melvin |
BNYMAD | $32,614 | $32,614 | N/A | $32,614 |
BNYMAD | $28,322 | $28,322 | N/A | $28,322 |
BNYMAF | N/A | N/A | $43,209 | $43,209 |
BNYMIF | $35,061 | $35,061 | N/A | $35,061 |
BNYMIFV | $5,497 | $5,497 | N/A | $5,497 |
BNYMIFV | $4,551 | $4,551 | N/A | $4,551 |
BNYMIFVI | $2,629 | $2,629 | N/A | $2,629 |
BNYMMIF | $15,573 | $15,573 | N/A | $15,573 |
BNYMNJMBF | $3,283 | $3,283 | N/A | $3,283 |
BNYMNYAFMBF | N/A | N/A | $4,703 | $4,703 |
BNYMOMSF | $1,016 | $1,016 | $9,044 | $9,044 |
BNYMRGF | $13,306 | $13,306 | N/A | $13,306 |
BNYMWGF | N/A | N/A | $20,033 | $20,033 |
GMMF | N/A | N/A | $47,673 | $47,673 |
GMMMFI | N/A | N/A | $13,706 | $13,706 |
GNYMMMF | N/A | N/A | $2,287 | $2,287 |
Total
compensation from the funds and | $181,500 | $349,500 | $399,500 | $745,500 |
I-8
Emeritus Board Members | |||||
Fund | Diane Dunst++ | David P. Feldman+++ | Ehud Houminer+++ | Lynn Martin+++ | Martin Peretz+++ |
BNYMAD | N/A | $17,223 | $17,223 | $17,223 | $13,274 |
BNYMAD | N/A | $14,775 | $14,775 | $14,775 | $11,437 |
BNYMAF | $22,831 | N/A | N/A | N/A | N/A |
BNYMIF | N/A | $18,219 | $18,219 | $18,219 | $14,294 |
BNYMIFV | N/A | $2,862 | $2,862 | $2,862 | $2,239 |
BNYMIFV | N/A | $2,366 | $2,366 | $2,366 | $2,420 |
BNYMIFVI | N/A | N/A | N/A | $1,366 | $1,068 |
BNYMMIF | N/A | $8,094 | $8,094 | $8,094 | $6,340 |
BNYMNJMBF | N/A | $1,706 | $1,706 | $1,706 | $1,653 |
BNYMNYAFMBF | $2,485 | N/A | N/A | N/A | N/A |
BNYMOMSF | $5,578 | N/A | N/A | N/A | N/A |
BNYMRGF | N/A | $6,914 | $6,914 | $6,914 | $6,636 |
BNYMWGF | $10,578 | N/A | N/A | N/A | N/A |
GMMF | $25,177 | N/A | N/A | N/A | N/A |
GMMMFI | $7,235 | N/A | N/A | N/A | N/A |
GNYMMMF | $1,205 | N/A | N/A | N/A | N/A |
Total compensation from the funds and fund complex (*) | $75,000 | $92,500 | $172,500 | $92,500 | $72,500 |
† Amounts shown do not include expenses reimbursed to board members for attending board meetings. Amounts shown also do not include the costs of office space, office supplies and secretarial services, which are paid by the funds (allocated based on net assets), which, in 2023, for the funds ranged from $10 to $3,225 ($27,506 for all funds).
* Represents the number of separate portfolios comprising the investment companies in the fund complex, including the funds, for which the board member or emeritus board member served in 2023.
+ Mr. DiLecce served as an advisory board member to each of BNYMAD, BNYMIF, BNYMIFV, BNYMIFVI, BNYMMIF, BNYMNJMBF, BNYMRGF, BNYMSIF, and BNYMVIF from October 2022 until he was elected to the board of each fund, effective January 1, 2024. While serving as an advisory board member, Mr. DiLecce received compensation from the applicable funds for attending board meetings in an advisory role.
++ Emeritus board member of BNYMAF, BNYMNYAFMBF, BNYMOMSF, BNYMWGF, GMMF, GMMMF and GNYMMMF.
+++ Emeritus board member of BNYMAD, BNYMIF, BNYMIFV, BNYMIFVI, BNYMMIF, BNYMNJMBF, BNYMRGF, BNYMSIF and BNYMVIF.
I-9
Name | 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 | Vice President and Director of BNYM Investment Adviser since February 2021; Head of North America Distribution, BNY Investments since February 2023; and Head of North America Product, BNY Investments from January 2018 to February 2023 | 51 (93) |
James
Windels | Director of BNYM Investment Adviser since February 2023; Vice President of BNYM Investment Adviser since September 2020; and Director – BNY Fund Administration | 52 (111) |
Peter M. Sullivan | Chief Legal Officer of BNYM Investment Adviser and Associate General Counsel of BNY since July 2021; Senior Managing Counsel of BNY from December 2020 to July 2021; and Managing Counsel of BNY from March 2009 to December 2020 | 52 (111) |
Sarah
S. Kelleher | Vice President of BNY Mellon ETF Investment Adviser, LLC since February 2020; Senior Managing Counsel of BNY since September 2021; and Managing Counsel of BNY from December 2017 to September 2021 | 52 (111) |
Deirdre
Cunnane | Managing Counsel of BNY since December 2021; and Counsel of BNY from August 2018 to December 2021 | 52 (111) |
Lisa
M. King | Counsel of BNY since June 2023; and Regulatory Administration Group Manager of BNY Mellon Asset Servicing from February 2016 to June 2023 | 52 (111) |
Jeff
S. Prusnofsky | Senior Managing Counsel of BNY | 52 (111) |
I-10
Name | Principal Occupation During Past 5 Years | Number of Investment Companies (Portfolios) in the Fund Complex* for which the Officer serves as an Officer |
Amanda
Quinn | Managing Counsel of BNY since March 2024; and Counsel of BNY from June 2019 to February 2024 | 52 (111) |
Joanne
Skerrett | Managing Counsel of BNY since June 2022; and Senior Counsel with the Mutual Fund Directors Forum, a leading funds industry organization, from 2016 to June 2022 | 52 (111) |
Daniel Goldstein | Head of Product Development of North America Distribution, BNY Investments since January 2018; Executive Vice President of North America Product, BNY Investments since April 2023; and Senior Vice President, Development & Oversight of North America Product, BNY Investments from 2010 to March 2023 | 51 (93) |
Joseph
Martella | Vice President of BNYM Investment Adviser since December 2022; Head of Product Management of North America Distribution, BNY Investments since January 2018; Executive Vice President of North America Product, BNY Investments since April 2023; and Senior Vice President of North America Product, BNY Investments from 2010 to March 2023 | 51 (93) |
Roberto
G. Mazzeo | Financial Reporting Manager – BNY Fund Administration | 52 (111) |
Gavin C. Reilly | Tax Manager – BNY Fund Administration | 52 (111) |
Robert
Salviolo | Senior Accounting Manager – BNY Fund Administration | 52 (111) |
I-11
Name | Principal Occupation During Past 5 Years | Number of Investment Companies (Portfolios) in the Fund Complex* for which the Officer serves as an Officer |
Robert
Svagna | Senior Accounting Manager – BNY Fund Administration | 52 (111) |
Joseph W. Connolly | Chief Compliance Officer of the BNY Mellon Family of Funds and BNY Mellon Funds Trust since 2004; and Chief Compliance Officer of BNYM Investment Adviser from 2004 until June 2021 | 51 (98) |
Caridad
M. Carosella | Anti-Money Laundering Compliance Officer of the BNY Mellon Family of Funds and BNY Mellon Funds Trust | 45 (104) |
* "Fund Complex" comprises registered investment companies for which BNYM Investment Adviser or an affiliate of BNYM Investment Adviser serves as investment adviser.
1 President since January 2021; previously, Vice President.
2 With respect to BNYMIFVI, Mr. Windels has held his position since 2003.
3 Chief Legal Officer since July 2021.
4 Secretary since April 2024; previously, Assistant Secretary.
5 With respect to BNYMAF, BNYMNYAFMBF and BNYMWGF only. With respect to BNYMIFVI, Mr. Svagna has held this position since 2003; for other funds, since 2005.
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.
CERTAIN
PORTFOLIO MANAGER INFORMATION
(not applicable to money market funds)
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 | Registered Investment Companies | Total Assets Managed | Other Pooled Investment Vehicles | Total Assets Managed | Other Accounts | Total Assets Managed |
John C. Bailer | 8 | $8.4B | 6 | $404.3M | 35 | $6.9B |
Daniel Barton | 3 | $666M | None | N/A | None | N/A |
Karen Behr | 9 | $6.8B | 6 | $68M | 17 | $2.0B |
E. Todd Briddell | 1 | $259M | None | N/A | None | N/A |
Jeffrey Burger | 10 | $3.4B | None | N/A | 451 | $1.6B |
Brian Byrnes1 | None | N/A | None | N/A | None | N/A |
Thomas Casey | 7 | $3.6B | None | N/A | 529 | $2.4B |
I-12
Primary | Registered Investment Companies | Total Assets Managed | Other Pooled Investment Vehicles | Total Assets Managed | Other Accounts | Total Assets Managed | |
Martin Chambers | 1 | $16.9M | 7 | $839M | None | N/A | |
Alan R. Christensen | 5 | $3.8B | 2 | $300M | 63 |