BOLD® Future offers retail
clients the opportunity to make a social impact through Dreyfus'
flagship money fund in partnership with Howard
University
NEW
YORK, June 5, 2024 /PRNewswire/ -- Dreyfus,
BNY Mellon's affiliated liquidity manager, today announced the
launch of BOLD® Future, a new share class for retail
investors of the Dreyfus Government Cash Management fund. Building
on the demand from institutional investors for BOLD, which stands
for Black Opportunity for Learning and Development, BOLD Future
will support Howard University's
Graduation, Retention, and Access to Continued Excellence (GRACE)
Grant by making an annual donation of 10% of the net
revenue1 of the share class to a
dedicated scholarship within the GRACE Grant.
BOLD Future is designed to address the liquidity needs of
financial advisors and their clients with an investment minimum of
$25,000. BOLD Future is the
latest innovation from Dreyfus in its 50th year as a
leading provider of liquidity solutions.
"As one of the largest and most trusted cash and liquidity
managers, we're delighted to deepen our partnership with
Howard University and applaud their
ongoing commitment to helping the highest-need students graduate.
We are proud to have donated over $1
million to Howard University's
GRACE Grant, powered by the strong commitment of our institutional
clients," said John Tobin, Chief
Investment Officer at Dreyfus. "With the launch of BOLD Future,
Dreyfus now offers financial advisors and their clients the same
opportunity to make their money work harder by doing well and doing
good."
"Our partnership with Dreyfus is a game changer in eliminating
financial barriers for Howard
University students so that they focus more on completing
college degrees, excelling in their chosen fields and advancing a
more just and equitable society," said Ben
Vinson, III, PhD, President of Howard
University. "Investing in the GRACE Grant not only
strengthens retention and graduation rates, but also enables
students to lead and succeed in making the world a better place for
everyone. Our nation and the world stand to benefit from this type
of transformative support as we move Howard forward toward maximum
strength."
To learn more, visit:
https://www.dreyfus.com/products/the-bold-shares.html.
BNY Mellon is a global financial services company that
helps make money work for the world – managing it, moving it and
keeping it safe. For 240 years we have partnered alongside our
clients, putting our expertise and platforms to work to help them
achieve their ambitions. Today we help over 90% of Fortune 100
companies and nearly all the top 100 banks globally access the
money they need. We support governments in funding local projects
and work with over 90% of the top 100 pension plans to safeguard
investments for millions of individuals, and so much more. As of
March 31, 2024, we oversee
$48.8 trillion in assets under
custody and/or administration and $2.0
trillion in assets under management.
BNY Mellon is the corporate brand of The Bank of New York Mellon
Corporation (NYSE: BK). We are headquartered in New York City, employ over 50,000 people
globally and have been named among Fortune's World's Most Admired
Companies and Fast Company's Best Workplaces for Innovators.
Additional information is available on www.bnymellon.com. Follow us
on LinkedIn or visit our Newsroom for the latest company news.
BNY Mellon Investment Management is one of the world's
largest asset managers, managing almost $2
trillion across a range of traditional and alternative
assets through seven specialist investment firms – ARX, Dreyfus,
Insight, Mellon, Newton, Siguler Guff, and Walter Scott. For more information:
www.bnymellonim.com.
Dreyfus is one of the largest and trusted liquidity
managers in the industry. Our strategies span major asset classes,
including Treasury, US government and short duration fixed income.
Investors can access our solutions in a variety of pooled vehicles,
including domestic and offshore money market funds, an ultra-short
income exchange-traded fund (ETF), and collective investment trusts
(CITs). We also offer customized portfolio solutions, including
separately managed accounts as well as private and white label
options. With 50 years of history, we are committed to building
intelligent, innovative liquidity solutions with our clients in
mind. For more information please
visit www.Dreyfus.com.
Howard
University, founded in 1867, is a private,
research university that is comprised of 14 schools and colleges.
Students pursue more than 140 programs of study leading to
undergraduate, graduate and professional degrees. The University
operates with a commitment to Excellence in Truth and Service and
has produced one Schwarzman Scholar, three Marshall Scholars, four
Rhodes Scholars, 12 Truman Scholars, 25 Pickering Fellows and more
than 165 Fulbright recipients. Howard also produces more
on-campus African American Ph.D. recipients than any other
university in the United
States. For more information on Howard University,
visit www.howard.edu.
Investors should consider the investment objectives, risks,
charges, and expenses of a mutual fund carefully before investing.
Contact a financial professional or visit im.bnymellon.com to
obtain a prospectus, or summary prospectus, if available, that
contains this and other information about the fund, and read it
carefully before investing.
You could lose money by investing in a money market fund.
Although the fund seeks to preserve the value of your investment at
$1.00 per share, it cannot guarantee
it will do so. An investment in the fund is not insured or
guaranteed by the Federal Deposit Insurance Corporation or any
other government agency. The fund's sponsor has no legal obligation
to provide financial support to the fund, and you should not expect
that the sponsor will provide financial support to the fund at any
time. Although the fund's board has no current intention to impose
a fee upon the sale of shares, the board reserves the ability to do
so after providing at least 60 days prior written notice to
shareholders.
The reference to BNY Mellon Investment Management's website is
intended to allow investors public access to information regarding
the Fund and does not, and is not intended to, incorporate the
website in this release.
Dreyfus is a division of Mellon Investments Corporation, a
subsidiary of The Bank of New York Mellon Corporation.
BNY Mellon Securities Corporation, distributor, 240 Greenwich
Street, New York, NY 10286
This press release is qualified for issuance in the U.S. only
and is for informational purposes only. It does not constitute an
offer or solicitation of securities or investment services or an
endorsement thereof in any jurisdiction or in any circumstance in
which such offer or solicitation is unlawful or not authorized.
This press release is issued by BNY Mellon Investment Management to
members of the financial press and media and the information
contained herein should not be construed as investment
advice.
Media Contact
Sue
Watt
Sue.Watt@bnymellon.com
1 "Net revenue" represents the management fee paid by
the Fund to BNY Mellon Investment Adviser after any fee
waivers and/or expense reimbursements by BNYM Investment Adviser
and less any revenue sharing payments made by BNYM Investment
Adviser or its affiliates, with respect to the Fund's BOLD Future
shares.
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SOURCE BNY Mellon