|255 Liberty Street , New York, NY 10286|
|Fund Manager||Chris Barris|
|Manager Tenure||10 Years 11 Months|
The fund seeks to maximize total return, consisting of capital appreciation and current income. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in fixed-income securities that, at the time of purchase, are rated below investment grade ("high yield" or "junk" bonds) or are the unrated equivalent as determined by BNY Mellon Investment Adviser, Inc. The fund's portfolio may include various types of fixed-income securities, such as corporate bonds and notes, mortgage-related securities, asset-backed securities, floating rate loans (limited to up to 20% of the fund's net assets) and other floating rate securities, zero coupon securities, convertible securities, preferred stock and other debt instruments of U.S. and foreign issuers. In choosing securities, the fund's portfolio managers seek to capture the higher yields offered by junk bonds, while managing credit risk and the volatility caused by interest rate movements. The fund's investment process involves a "top down" approach to security selection. The fund looks at a variety of factors when assessing a potential investment, including the state of the industry or sector, the company's financial strength, and the company's management. The fund also looks for companies that are underleveraged, have positive free cash flow, and are self-financing. There are no restrictions on the dollar-weighted average maturity or average effective duration of the fund's portfolio or on the maturities or durations of the individual fixed-income securities the fund may purchase. A bond's maturity is the length of time until the principal must be fully repaid with interest. Duration is an indication of an investment's "interest rate risk," or how sensitive a bond or the fund's portfolio may be to changes in interest rates. The fund may, but is not required to, use derivative instruments, such as options, futures and options on futures (including those relating to securities, foreign currencies, indices and interest rates), forward contracts, and swap agreements (including interest rate and credit default swap agreements). The fund intends to use options, futures and options on futures only as part of a hedging strategy. The fund may enter into swap agreements, such as interest rate and credit default swap agreements, which can be used to transfer the interest rate or credit risk of a security without actually transferring ownership of the security or, for credit default swaps, to customize exposure to particular corporate credit. When the fund enters into derivatives transactions, it may be required to segregate liquid assets or enter into offsetting positions, in accordance with applicable regulations. The fund also may invest in collateralized debt obligations (CDOs), which include collateralized loan obligations and other similarly structured securities. To enhance current income, the fund may engage in a series of purchase and sale contracts or forward roll transactions in which the fund sells a mortgage-related security, for example, to a financial institution and simultaneously agrees to purchase a similar security from the institution at a later date at an agreed upon price. The fund also may make forward commitments in which the fund agrees to buy or sell a security in the future at a price agreed upon today.
|Asset Type||% Of Allocation|
|Total Net Assets||1.03 B|
|Criteria||3 Years||5 Years||10 Years|
|Minimum Initial IRA||$750|
|Timeframe||Average Annual Current Performance Monthly As Of 08/31/2021||Average Annual Current Performance Quarterly As Of 05/31/2021||Avg Annual Current Performance Monthly As Of 08/31/2021||Avg Annual Current Performance Quarterly As Of 05/31/2021|
|Life Of Fund||
Join the Action Alerts PLUS Community today!
Jim Cramer has your game plan for next week, which he says will be the calm before the earnings season storm.
Starbucks reportedly said it will raise wages and benefits and a union isn’t needed, to employees at three stores in Buffalo New York.
Exxon has 'reduced costs, surprised to the downside on capital spending, outperformed our expectations in downstream/chemicals,' Goldman said.
Companies need to forget about help from Washington and step up to the plate.
Evergrande's default saga, as well as mounting supply chain issues, have stocks trading mixed Friday.
Jim Cramer discusses China's crypto clampdown and Nike's report.