Summary

• BNY Mellon Global Real Return Fund (Class A at NAV) posted a positive return for the quarter, with both its return-seeking assets and its stabilizing and hedging positions adding value.
• The strategic currency hedge made a small positive contribution as the U.S. dollar strengthened against the other G4 currencies.
• The Fund continues to maintain exposure to gold alongside equity hedges.

Performance Summary

The Fund (Class A at NAV)(DRRAX) posted a positive return for the quarter.

Positive contributors included energy equity names, precious metals, equity hedges and emerging market debt in local currency. The top detractors included equity technology

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