Summary

• For the quarter ended March 31, 2026, BNY Mellon Opportunistic Municipal Securities Fund’s Class I shares returned 0.09%, excluding sales charges.
• Fund performance was primarily attributable to security selection, with healthcare, special tax, and transportation credits performing well.
• Over the quarter, the municipal yield curve steepened, while the Treasury curve bear-flattened.
• The Bloomberg Municipal BBB and A Indices returned -0.08% and -0.03%, respectively, outperforming the AAA and AA Indices, which returned -0.34% and -0.20%.

Market Review

The bond markets including US Treasuries and municipals turned markedly bearish during March, as the US-Israel/Iran conflict drove macro rate volatility and uncertainty. Negative price pressures pushed yields higher in March as concerns over labor

68 Followers