NEW YORK, Aug. 9, 2021 /PRNewswire/ -- BNY Mellon Investment Management, one of the world's largest asset managers with $2.3 trillion in assets under management1, today announced the expansion of its Exchange-Traded Funds (ETFs) range with the introduction of the BNY Mellon Ultra Short Income ETF, sub-advised by Dreyfus Cash Investment Strategies (CIS)2. This active ETF solution, which seeks to address the growing demand for increased yield with less volatility than a short-term bond fund and potentially additional return over money market funds3, is expected to commence trading on the New York Stock Exchange (NYSE) on Wednesday, August 11, 2021.
The introduction of the BNY Mellon Ultra Short Income ETF marks the first of several upcoming active ETF solutions from BNY Mellon Investment Management. In the coming months the firm expects to launch three active ETF sustainable solutions sub-advised by Newton Investment Management Limited (BNY Mellon Sustainable US Equity ETF, the BNY Mellon Sustainable International Equity ETF; and the BNY Mellon Sustainable Global Emerging Markets ETF)4; the BNY Mellon Responsible Horizons Corporate Bond ETF4, sub-advised by Insight North America LLC; and the BNY Mellon Concentrated International ETF4, sub-advised by Walter Scott & Partners Limited, each sub-adviser an affiliate of BNY Mellon.
"Given the current low rate environment, an ultra short bond ETF seeks to address the growing demand for increased yield with less volatility than a short-term bond fund and potentially additional return over money market funds3," said John Tobin, Chief Investment Officer of Dreyfus Cash Investment Strategies. "The BNY Mellon Ultra Short Income ETF is a natural extension of our existing suite of liquidity solutions, and we're especially excited to bring our ultra short income capabilities to the ETF market."
BNY Mellon introduced in April 2020 its initial suite of eight Index ETFs, including the industry's first true zero-fee5 ETFs in the largest equity and fixed income ETF categories without fee waivers or other restrictions—the BNY Mellon US Large Cap Core Equity ETF and the BNY Mellon Core Bond ETF—as well as a BNY Mellon High Yield Beta ETF. Since its debut, the initial BNY Mellon-sponsored ETF suite has grown to over $845M in AUM as of June 30, 2021, with spreads and quoted depth proving competitive across each strategy.
"Our mission in entering the ETF marketplace last year was to make our leading investment capabilities accessible to a broader range of clients through the ETF structure," said Andy Provencher, BNY Mellon Investment Management Head of North American Distribution. "We have an ambitious product pipeline of active ETFs that we're excited to bring to market over the next several months. Continuing to launch active ETFs strengthens the suite of solutions we're able to offer clients and deepens our relationships by meeting their evolving needs for more low-cost, tax-efficient investment strategies."
About BNY Mellon Investment Management
BNY Mellon Investment Management is one of the world's largest asset managers, with $2.3 trillion in assets under management as of June 30, 2021. Through an investor-first approach, BNY Mellon Investment Management brings to clients the best of both worlds: specialist expertise from eight investment firms offering solutions across every major asset class, backed by the strength, stability, and global presence of BNY Mellon. Additional information on BNY Mellon Investment Management is available on www.bnymellonim.com.
BNY Mellon Investment Management is a division of BNY Mellon, which has $45.0 trillion in assets under custody and/or administration as of June 30, 2021. 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.
BNY Mellon Investment Management
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 im.bnymellon.com. Read the prospectus carefully before investing.
ETF shares are listed on an exchange, and shares are generally purchased and sold in the secondary market at market price. At times, the market price may be at a premium or discount to the ETF's per share NAV. In addition, ETFs are subject to the risk that an active trading market for an ETF's shares may not develop or be maintained. Buying or selling ETF shares on an exchange may require the payment of brokerage commissions.
ETFs trade like stocks, are subject to investment risk, including possible loss of principal. The risks of investing in ETFs typically reflect the risks associated with the types of instruments in which the ETF invests. Diversification cannot assure a profit or protect against loss.
Not FDIC-Insured | No Bank Guarantee | May Lose Value
©2021 BNY Mellon Securities Corporation, distributor, 240 Greenwich St., New York, NY 10286.
1 As of June 30, 2021.
2 A division of Mellon Investments Corporation.
3 The BNY Mellon Ultra Short Income ETF is not a money market fund. The fund's NAV and market value will fluctuate every day and these fluctuations may be significant on certain days. Also, the fund is not subject to the liquidity requirements and investment and credit quality restrictions applicable to money market funds. There can be no guarantee that the fund will generate higher returns than money market funds.
4 A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission. The securities may not be sold until the registration statement becomes effective.
5 Zero-fee means zero total annual fund operating expenses and does not include any applicable brokerage commissions shareholders may pay for the purchase or sale of ETF shares through their broker/dealer.
SOURCE BNY Mellon