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    BNY Mellon Small Cap Multi-Strategy Fund

    Overview

    Why invest in this Fund?

    "The fund seeks capital appreciation. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of small cap companies. The fund currently considers small cap companies to be those companies with market capitalizations that are equal to or less than the market capitalization of the largest company included in the Russell 2000® Index. The fund normally allocates its assets among multiple investment strategies employed by BNY Mellon Investment Adviser, Inc. (BNYIA) and its affiliates that invest primarily in equity securities issued by small cap companies. The fund is designed to provide exposure to various small cap equity portfolio managers and investment strategies and styles. The fund may invest up to 15% of its net assets in the equity securities of foreign issuers. BNYIA determines the investment strategies and sets the target allocations and ranges. The investment strategies and the fund's targets and ranges (expressed as a percentage of the fund's investable assets) for allocating its assets among the investment strategies as of the date of the prospectus were as follows:

    1. Opportunistic Small Cap Strategy (Target: 40%; Range: 0% to 50%). For this portion of the portfolio, e sub-adviser uses a disciplined investment process that relies, in general, on proprietary fundamental research and valuation. Generally, elements of the process include analysis of mid-cycle business prospects, estimation of the intrinsic value of the company and the identification of a revaluation catalyst.

    2. Small Cap Value Strategy (Target: 30%; Range: 0% to 40%). In constructing this portion of the fund's portfolio, the sub-adviser employs a value-based investment style, which means that they seek to identify those companies with stocks trading at prices below what are believed to be their intrinsic value.

    3. Small Cap Growth Strategy (Target: 30%; Range: 0% to 40%). In constructing this portion of the fund's portfolio, the sub-adviser employs a growth-oriented investment style, which means the sub-adviser seeks to identify those small cap companies which are experiencing or are expected to experience rapid earnings or revenue growth.

    BNYIA has the discretion to change the investment strategies and the target allocations and ranges when BNYIA deems it appropriate. The investment strategies are employed by Newton Investment Management North America, LLC (NIMNA), an affiliate of BNYIA. "
    Class Inception Date
    01/01/98
    Fund Assets
    $198,677,069  As of  09/16/25
    Class Assets
    $175,501,845  As of  09/16/25
    Portfolio Turnover Rate
    60.95% As of fiscal year end  08/31/24
    Morningstar Category
    Small Growth
    Benchmark
    Russell 2000® Index
    Morningstar Overall Rating
    Fund Holdings
    176 As of 08/31/25

    Morningstar Rating™ as of August 31, 2025 for the Class M class shares; other classes may have different performance characteristics. Overall rating for the Small Growth category. Fund ratings are out of 5 Stars: Overall 3 Stars (515 funds rated); 3 Yrs. 2 Stars (515 funds rated); 5 Yrs. 3 Stars (500 funds rated); 10 Yrs. 3 Stars (392 funds rated).

    Portfolio Managers

    • Andrew Leger

      Andrew Leger

      Portfolio Manager, Newton Investment Management North America, LLC

      Managing Fund Since 2021

      Joined Firm in 2014

      Joined Industry in 1998
    • Karen Miki Behr

      Karen Miki Behr

      Portfolio Manager, Newton Investment Management Limited

      Managing Fund Since 2021

      Joined Firm in 2008

      Joined Industry in 1999
    • Monty A. Kori

      Monty A. Kori

      Portfolio Manager, Newton Investment Management North America, LLC

      Managing Fund Since February 2025

      Joined Firm in 2017

      Joined Industry in 2000
    • Peter Goslin

      Peter Goslin, CFA

      Portfolio Manager, Newton Investment Management North America, LLC

      Managing Fund Since June 2025

      Joined Firm in 1999

      Joined Industry in 1988
    Performance

    Total Returns

    Month End

    Average Annual
    As of 08/31/25
    Name 3 MO
    08/31/25     		YTD
    08/31/25     		1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon Small Cap Multi-Strategy Fund
    MPSSX
    		11.95 8.79 10.73 7.54 7.74 8.92 7.43
    Russell 2000® Index
    		14.93 7.06 8.17 10.28 10.13 8.88 -

    Quarter End

    Average Annual
    As of 06/30/25
    Name 3 MO
    06/30/25     		YTD
    06/30/25     		1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon Small Cap Multi-Strategy Fund
    MPSSX
    		11.06 3.49 11.40 8.43 8.92 7.38 7.29
    Russell 2000® Index
    		8.50 -1.79 7.68 10.00 10.04 7.12 -

    The Russell 2000® Index measures the performance of the small-cap segment of the U.S. equity universe. The Russell 2000® Index is a subset of the Russell 3000® Index representing approximately 10% of the total market capitalization of that index. It includes approximately 2,000 of the smallest securities based on a combination of their market cap and current index membership. The Russell 2000® is constructed to provide a comprehensive and unbiased small-cap barometer and is completely reconstituted annually to ensure larger stocks do not distort the performance and characteristics of the true small-cap opportunity set. Investors cannot invest directly in any index.

    Growth of $10,000 Investment

    Historical Performance

      Yearly Total Return

      Yearly

      Fees & Expenses

      Prospectus Fee Table Expense Ratios

      As of  12/31/24 Fee Description Expense Ratio (%)
      Management Fee 0.85%
      Administration Fee 0.14%
      Other Expenses 0.07%
      Total Expenses 1.06%
      Net Expenses 1.06%
      Portfolio

      Portfolio Manager/Sub-Investment Adviser

      The fund's investment adviser is BNY Mellon Investment Adviser, Inc. (BNYIA). BNYIA has engaged its affiliate, NIMNA, to serve as the fund's sub-adviser responsible for the portions of the fund's assets allocated to the Small Cap Value Strategy and the Small Cap Growth Strategy. Peter D. Goslin, CFA is the fund's primary portfolio manager responsible for investment allocation decisions, a position he has held since June 2025. Mr. Goslin is a member of the Multi-Factor Equity team at NIMNA. He has been employed by NIMNA or a predecessor company of NIMNA since 1999. Andrew Leger is the portfolio manager who is primarily responsible for managing the fund's Small Cap Value Strategy. Mr. Leger has been a portfolio manager of the fund since 2021 and is a portfolio manager at NIMNA. Investment decisions for the Small Cap Growth Strategy are made by a team of investment professionals employed by NIMNA. The team has consisted of Karen Behr since September 2021 and Monty Kori since February 2025. Ms. Behr and Mr. Kori are portfolio managers at NIMNA.

      Top Holdings

      Download Total Holdings
      As of 08/31/25

      Asset Allocation

          Stats & Risks

          Daily Statistics

          As of 09/16/25 Name NAV Change 12/04/24  12 Month 
          High Nav           		04/08/25  12 Month 
          Low Nav           		YTD Return
          MPSSX
          		$21.64
          $0.03
          0.14%
          		$23.65 $16.16 9.14%

          Performance Metrics

          Overall Morningstar Rating

          MORNINGSTAR CATEGORY Small Growth

          Morningstar Rating™ as of 08/31/25 for the Class M shares; other classes may have different performance characteristics. Overall rating for the Small Growth. Fund ratings are out of 5 Stars: Overall 3 Stars (515 funds rated); 3 Yrs. 2 Stars (515 funds rated); 5 Yrs. 3 Stars (500 funds rated); 10 Yrs. 3 Stars (392 funds rated).
          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. © 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.

          Lipper Rankings

          • 1 Year
            104 out of 1005
          • 3 Year
            824 out of 955
          • 5 Year
            846 out of 912
          • 10 Year
            319 out of 700

          LIPPER CLASSIFICATION Small-Cap Core Funds

          Lipper Category returns and rankings as of 08/31/25, are calculated by Lipper Inc., a Reuters Company, which is a nationally recognized organization that compares the performance of mutual funds with similar investment objectives. The Category returns represent the average performance of included funds, while rankings compare an individual fund's returns to those of the other funds in its category. Both are based on total return performance, with capital gains and dividends reinvested, with annual operating expenses deducted, but without including front or back-end sales charges. Rankings begin with the actual share class inception. Rankings are relative to a peer group and do not necessarily mean that the fund had high total returns. Rankings do not reflect sales loads

          Main Risks

          Equity funds are subject generally to market, market sector, market liquidity, issuer, and investment style risks, among other factors, to varying degrees, all of which are more fully described in the fund's prospectus.
          Small companies carry additional risks because their operating histories tend to be more limited, their earnings and revenues less predictable, and their share prices more volatile than those of larger, more established companies. The shares of smaller companies tend to trade less frequently than those of larger, more established companies.
          Please refer to the prospectus for a more complete discussion of the fund's main risks.

          Risk Metrics

          As of  08/31/25  3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
          MPSSX
          		20.19 -12.07 1.16 72.26 0.22

          All risk metrics are provided by Morningstar. The index used in the calculations are determined by Morningstar which may not be the funds primary benchmark. The index Morningstar used for this analysis is S&P 500® Index.


          Distributions

          Dividend Schedule

          Declared
          Annually
          Distributed
          Annually
          Paid
          Annually
          Fiscal Year End
          Aug 31
          Annualized Distribution Rate
          %
          As of 
          Year Dividend ($) Capital Gains ($)
          2024 0.2674 1.8767
          2023 0.0333 0.0752
          2022 0.0000 0.5121
          2021 0.0000 2.9410
          2020 0.0000 0.1451
          2018 0.0000 2.8976
          2017 0.0000 1.7033
          2016 0.0000 0.0973
          2015 0.0000 0.6263
          2014 0.0000 0.7594

          Distributions History

          Record Date Ex-Dividend Date Payable Date Ordinary 
          Non-Qualified 
          Dividends           		Qualified 
          Dividends           		Non-Qualified 
          Short-Term 
          Capital Gain           		Qualified 
          Short-Term 
          Capital Gain           		Long-Term 
          Capital Gain           		Total 
          Distribution
          12/16/24 12/17/24 12/17/24 0.0000 0.2674 0.0000 0.0513 1.8254 2.1441
          Record Date Ex-Dividend Date Payable Date Ordinary 
          Non-Qualified 
          Dividends           		Qualified 
          Dividends           		Non-Qualified 
          Short-Term 
          Capital Gain           		Qualified 
          Short-Term 
          Capital Gain           		Long-Term 
          Capital Gain           		Total 
          Distribution
          12/15/23 12/18/23 12/18/23 0.0000 0.0333 0.0000 0.0000 0.0752 0.1085
          12/15/22 12/16/22 12/16/22 0.0000 0.0000 0.0000 0.0000 0.5121 0.5121
          12/16/21 12/17/21 12/17/21 0.0000 0.0000 0.8531 0.1319 1.9560 2.9410
          12/16/20 12/17/20 12/17/20 0.0000 0.0000 0.0000 0.0000 0.1451 0.1451
          12/14/18 12/17/18 12/17/18 0.0000 0.0000 0.3626 0.1211 2.4139 2.8976
          12/18/17 12/19/17 12/19/17 0.0000 0.0000 0.1749 0.1430 1.3854 1.7033
          12/16/16 12/19/16 12/19/16 0.0000 0.0000 0.0000 0.0000 0.0973 0.0973
          12/17/15 12/18/15 12/18/15 0.0000 0.0000 0.0000 0.0000 0.6263 0.6263
          12/18/14 12/19/14 12/19/14 0.0000 0.0000 0.0000 0.0000 0.7594 0.7594
          12/28/12 12/31/12 12/31/12 0.0000 0.0084 0.0000 0.0000 0.0000 0.0084
          12/04/12 12/05/12 12/05/12 0.0000 0.0208 0.0000 0.0000 0.0000 0.0208
          05/10/12 05/11/12 05/11/12 0.0131 0.0000 0.0000 0.0000 0.0000 0.0131
          12/06/11 12/07/11 12/07/11 0.2685 0.0225 0.0000 0.0000 0.0000 0.2910
          12/07/09 12/08/09 12/08/09 0.0000 0.0114 0.0000 0.0000 0.0000 0.0114
          03/26/09 03/27/09 03/27/09 0.0000 0.0000 0.0000 0.0000 0.0019 0.0019
          12/02/08 12/03/08 12/03/08 0.0410 0.0410 0.0030 0.0030 0.0070 0.0950
          12/04/07 12/05/07 12/05/07 0.0000 0.0000 0.7729 0.0174 1.4687 2.2590
          12/05/06 12/06/06 12/06/06 0.0000 0.0000 0.0382 0.0618 2.2970 2.3970
          12/06/05 12/07/05 12/07/05 0.0000 0.0000 0.0000 0.0750 2.5030 2.5780
          12/07/04 12/08/04 12/08/04 0.0000 0.0000 0.0000 0.0000 0.3915 0.3915
          See all rows...
          Literature

          Literature

          Factsheet, Prospectus and Reports

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          Annual Report - Class M Download
          Semi Annual Report - Class M Download
          Annual Financials and Other Information Download
          Semi Annual Financials and Other Information Download
          1Q Fiscal Holdings Download
          3Q Fiscal Holdings Download
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