Summary

• The BNY Mellon Worldwide Growth Fund underperformed the MSCI World Index in the first quarter of 2026.
• The MSCI World Index declined 3.57% in the first quarter of 2026 as the Iran War created an oil supply shock for the global economy.
• The Fund trailed the Index in the period, driven by the dual impact of negative asset allocation and stock selection effects.

Market Review

The MSCI World Index declined 3.57% in the first quarter of 2026 as the Iran War created an oil supply shock for the global economy. U.S. equities pulled back sharply, while European and Asian equities finished

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