NEW YORK, March 14, 2018 /PRNewswire/ -- BNY Mellon Investment Management has added the BNY Mellon Insight Core Plus Fund (the "Fund"), an actively-managed multi-sector bond strategy which seeks to deliver attractive risk-adjusted performance over an investment cycle and in various market conditions. The Fund is sub-advised by Insight Investment, a leading global asset manager and part of BNY Mellon's multi boutique structure. Insight is responsible for $791bn in assets under management, of which $164.3bn is in global fixed income1.
The Fund seeks high total return consistent with preservation of capital. The Fund normally invests primarily in a diversified portfolio of investment grade fixed income securities of U.S. and foreign issuers. The Fund is added with a seven-year performance track record based on the strategy it shares with the Insight Investment Grade Bond Fund, an earlier fund launched in 2010 and managed by the same portfolio management team. It also carries a 5 star Overall Morningstar Rating™ among 857 Intermediate-Term Bond funds based on risk-adjusted returns as of February 28, 20182.
"The BNY Mellon Insight Core Plus Fund is an exciting and timely addition to our fund line-up. It is designed to provide our clients access to a world class global fixed income capability at what seems like an inflection point in the bond market," said Joseph Moran, Head of U.S. Intermediary Distribution, BNY Mellon. "Insight's disciplined investment process and strong risk management allow the experienced portfolio management team to take full advantage of the firm's extensive, specialized resources across all fixed-income sectors."
The Fund is co-managed by three members of Insight's substantial fixed income group. The managers are Gerard Berrigan, Head of US fixed income and senior portfolio managers Gautam Khanna and Jason Celente. They apply the Fund's active bond strategy, which seeks to add value from multiple sources including sector allocation, security selection, and interest rate management.
"Our focus for this Fund is to deliver attractive returns throughout the cycle without sacrificing the critical roles of capital preservation and diversification that clients expect of their core bond allocations," said Khanna. "While the long-term decline in rates and cyclical compression in credit spreads have been a tail wind for fixed income investors in recent memory, our specialist approach and expertise in global fixed income will allow us the potential to capitalize on what we believe are the best risk and reward opportunities across the fixed income universe regardless of the Fund's benchmark3 or where we are in the credit cycle."
Svein Floden, Head of US Intermediary Distribution at Insight, said: "The BNY Mellon Insight Core Plus Fund is the third in a series of US mutual funds added by BNY Mellon that are sub-advised by Insight. It is also the first to capture our global fixed income capabilities in a pooled fund format for US investors. These products underline Insight's ongoing commitment to bringing outcome-oriented credentials and institutional-grade risk management capabilities to the US market."
The Dreyfus Corporation (Dreyfus) serves as the investment manager of the Fund, and MBSC Securities Corporation, a wholly owned subsidiary of Dreyfus, serves as the Fund's distributor. The Fund is sub-advised by Insight North America LLC, an affiliate of Dreyfus.
The Fund offers Class A (DCPAX), Class C (DCPCX), and Class I (DCPIX) shares with a minimum initial investment of $1,000. The Fund also offers Class Y (DCPYX) shares generally with a minimum initial investment of $1,000,000. Additional information regarding the Fund can be found on Dreyfus' website at www.dreyfus.com.
As part of BNY Mellon Investment Management, Dreyfus is an asset management company that provides individuals, financial advisors, and institutional clients with investment solutions in the U.S. The firm accesses a broad range of investment solutions from BNY Mellon's global network of world-class investment managers, which includes asset classes spanning global, international and domestic equity, fixed income, alternatives, retirement and cash management strategies. Dreyfus offers 150 mutual funds with AUM of $302 billion across long only and money market strategies as of December 31, 2017. The firm originated in 1951 as one of the first mutual fund investment companies.
Insight Investment is a leading asset manager focused on designing investment strategies to meet its clients' needs. Founded in 2002, Insight's collaborative approach has delivered both investment performance and growth in assets under management. Insight managed $791bn (£585bn) as at 31 December 2017 across liability driven investment, fixed income & currency, global multi-asset and absolute return, global farmland and specialist equities1. Insight Investment is owned by BNY Mellon, a global leader in investment management and investment services with $1.9 trillion in assets under management. The value of investments and any income from them will fluctuate and is not guaranteed (this may be partly due to exchange rate fluctuations). Investors may not get back the full amount invested. Past performance is not a guide to future performance. More information about Insight Investment can be found at: www.insightinvestment.com
About BNY Mellon Investment Management
BNY Mellon Investment Management is one of the world's leading investment management organizations and one of the top U.S. wealth managers, with $1.9 trillion in assets under management as of December 31, 2017. It encompasses BNY Mellon's affiliated investment management firms, wealth management services and global distribution companies. BNY Mellon Investment Management is a division of BNY Mellon, which has $33.3 trillion in assets under custody and/or administration as of December 31, 2017. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE : BK ). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
Investors interested in the Fund should consider the investment objective, risks, charges and expenses of the Fund carefully before investing. To obtain a prospectus that contains this and other information about the Fund, investors should contact their financial representatives or visit www.dreyfus.com. Read the prospectus carefully before investing.
Bonds are subject to interest rate, credit, liquidity, call and market risks, to varying degrees. Generally, all other factors being equal, bond prices are inversely related to interest-rate changes and rate increases can cause price declines. Mortgage-backed securities: Ginnie Maes and other securities backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity. The market prices for such securities are not guaranteed and will fluctuate. Privately issued mortgage related securities also are subject to credit risks associated with the underlying mortgage properties. These securities may be more volatile and less liquid than more traditional, government backed debt securities. High yield bonds involve increased credit and liquidity risk than higher rated bonds and are considered speculative in terms of the issuer's ability to pay interest and repay principal on a timely basis. Investing in foreign denominated and/or domiciled securities involves special risks, including changes in currency exchange rates, political, economic, and social instability, limited company information, differing auditing and legal standards, and less market liquidity. These risks generally are greater with emerging market countries. The fund may, but is not required to, use derivatives which involves risks different from, or possibly greater than, the risks associated with investing directly in the underlying assets. Derivatives can be highly volatile, illiquid, and difficult to value and there is the risk that changes in the value of a derivative held by the portfolio will not correlate with the underlying instruments or the portfolio's other investments.
1As at 31 December 2017. Insight North America (INA) is part of "Insight" or "Insight Investment", the corporate brand for certain asset management companies operated by Insight Investment Management Limited including, among others, Insight Investment Management (Global) Limited, Insight Investment International Limited, Cutwater Asset Management Corp., and Cutwater Investor Services corp. Insight's assets under management are represented by the value of cash securities and other economic exposures, and are calculated on a gross notional basis. Advisory services referenced herein are available in the US only through INA. Figures shown in USD.
2 Morningstar Rating™ as of February 28, 2018 for the Y class shares; other classes may have different performance characteristics. Overall rating for the intermediate-term bond category. Fund ratings are out of 5 Stars: Overall Five Stars (857 funds rated); 3 Yrs. Five Stars (857 funds rated); 5 Yrs. 5 Stars (788 funds rated); Class Y shares are only available to certain eligible investors. The Morningstar Rating™ for funds, or "star rating", is calculated for managed products with at least a 3-year history. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance (not including the effects of sales charges, loads and redemption fees if applicable), placing more emphasis on downward variations and rewarding consistent performance. Managed products; including open-end mutual funds, closed-end funds and exchange-traded funds; are considered a single population for comparative purposes. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics. ©2017 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. The fund represents a single portfolio with multiple share classes that have different expense structures. Other share classes may have achieved different results.
3 The Bloomberg Barclays U.S. Aggregate Bond Index
*This fund adoption was consummated pursuant to an Agreement and Plan of Reorganization between the Insight Investment Grade Bond Fund and the Fund on February 2, 2018.
The Dreyfus Corporation, Insight, and MBSC Securities Corporation are affiliated with The Bank of New York Mellon Corporation. ©2018 MBSC Securities Corporation, distributor, 225 Liberty Street, 19th Fl., New York, NY 10281.
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SOURCE BNY Mellon