BNY Mellon Global Credit Fund

Objective: To achieve a total return from income and capital growth.

Benchmark: The Fund will measure its performance against the Bloomberg Barclays Global Aggregate Credit TR Index (hedged to US Dollars) (the “Benchmark”).

The Fund is actively managed, which means the Investment Manager has discretion to invest outside the Benchmark subject to the investment objective and policies disclosed in the Prospectus. However, as the Benchmark covers a significant proportion of the investable universe, the majority of the Sub-Fund’s holdings will be constituents of the Benchmark and the weightings in the portfolio may be similar to those of the Benchmark. The investment strategy will restrict the extent to which the portfolio holdings may deviate from the Benchmark and consequently the extent to which the Sub-Fund can outperform the Benchmark.

BNY Mellon Global Short-Dated High Yield Fund

Objective: To deliver positive returns greater than the Cash Benchmark SOFR (90-day compounded) on a 3 year rolling basis.

Benchmark: The Fund will measure its performance against SOFR (90-day compounded) (the “Cash Benchmark”). SOFR (the Secured Overnight Financing Rate) is a broad measure of the cost of borrowing cash overnight collateralised by U.S. Treasuries and is administered by the New York Federal Reserve.

The Cash Benchmark is used as a target against which to measure its performance on a rolling annualised 3-year basis, before fees.

The Fund is actively managed, which means the Investment Manager has discretion over the selection of investments, subject to the investment objective and policies disclosed in the Prospectus.

BNY Mellon US Municipal Infrastructure Debt Fund

Objective: To provide as high a level of income as is consistent with the preservation of capital.

Benchmark: The Fund will measure its performance against 50% Bloomberg Barclays U.S. Municipal Bond TR Index, 50% Bloomberg Barclays Taxable U.S. Municipal Bond TR Index (the "Benchmark"). The Fund is actively managed, which means the Investment Manager has absolute discretion to invest outside the Benchmark subject to the investment objective and policies disclosed in the Prospectus. While the majority of the Fund's holdings are expected to be constituents of, and have similar weightings to, the Benchmark, the investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.

Responsible Horizons Euro Corporate Bond Fund

Objective: To generate a total return comprised of income and capital growth by investing primarily in a broad range of Euro denominated debt and debt-related securities and related financial derivative instruments, whilst taking environmental, social and governance (“ESG”) factors into account.

Benchmark: The Fund will measure its performance against the Bloomberg Barclays Euro Aggregate Corporate Total Return Index (the “Benchmark”).

The Fund is actively managed, which means the Investment Manager has discretion to invest outside the Benchmark subject to the investment objective and policy. However, as the Benchmark covers a significant proportion of the investable universe, the majority of the Fund’s holdings will be constituents of the Benchmark and the weightings in the portfolio may be similar to those of the Benchmark. The investment strategy will restrict the extent to which the portfolio holdings may deviate from the Benchmark and consequently the extent to which the Fund can outperform the Benchmark.

Responsible Horizons Euro Impact Fund

Objective:To achieve positive environmental and/or social impacts while generating a total return comprised of income and capital growth by investing in a broad range of Euro-denominated debt and debtrelated securities and related financial derivative instruments (“FDI”).

Benchmark:The Fund will measure its performance against the Bloomberg Barclays MSCI Euro Corporate Green Bond Index, (the “Benchmark”).

The Fund is actively managed, which means the Investment Manager has discretion to invest outside the Benchmark subject to the investment objective and policy. However, as the Benchmark covers a significant proportion of the investable universe, the majority of the Fund’s holdings will be constituents of the Benchmark and the weightings in the portfolio may be similar to those of the Benchmark. The investment strategy will restrict the extent to which the portfolio holdings may deviate from the Benchmark and consequently the extent to which the Fund can outperform the Benchmark.

Responsible Horizons EM Debt Impact Fund

Objective: To achieve positive environmental and/or social impacts while generating a total return comprised of income and capital growth by investing in emerging market debt and debt-related securities and related FDI.

Benchmark: The Fund will measure its performance against the J.P. Morgan EM Credit Green, Social and Sustainability Bond Diversified Index (USD Hedged) (the “Benchmark”) for comparison purposes. However, the Investment Manager does not seek to align the Fund’s performance with that of the Benchmark and the performance of the Fund and the Benchmark may differ significantly.

The Fund is actively managed, which means the Investment Manager has discretion to invest outside the Benchmark subject to the investment objective and policy. The Fund has an unconstrained investment style, and as such it will not take the Benchmark into account when selecting the Fund’s investments.

BNY Mellon Efficient U.S. Fallen Angels Beta Fund

Objective: To generate a return in excess of the benchmark (detailed below) with similar levels of volatility over the medium to long term before fees and expenses, whilst taking environmental, social and governance (“ESG”) factors into account.

Benchmark: The Fund will measure its performance against Bloomberg Barclays US HY Fallen Angel 3% Cap Total Return Index Value Unhedged (the “Benchmark”). The Investment Manager will use the Benchmark to construct the investment universe.

The Fund is actively managed and does not seek to replicate the full constituents of the Benchmark. The Investment Manager has limited discretion to invest outside the Benchmark where the relevant security meets the requirements of and is expected to be included in the Benchmark in the future. The majority of the Fund’s holdings will be constituents of the Benchmark and as a result the Fund will be similar in its currency, duration as well as sector exposures and credit quality profile, subject to investment constraints. However the Investment Manager will not seek to reflect the Benchmark’s maturity profile. The investment strategy provides similar volatility to the Benchmark over the medium to long-term.

BNY Mellon Efficient U.S. High Yield Beta Fund

Objective: To provide similar performance and levels of volatility as the benchmark detailed below over the medium to long-term before fees and expenses.

Benchmark: The Fund will measure its performance against the Bloomberg Barclays U.S. Corporate High Yield TR Index (the “Benchmark”).

The Investment Manager will use the Benchmark to construct the investment universe. The Fund is actively managed and does not seek to replicate the full constituents of the Benchmark. The Investment Manager has limited discretion to invest outside the Benchmark subject to the investment objective and policies disclosed in the Prospectus.

The majority of the Fund’s holdings will be constituents of the Benchmark and as a result the Fund will be similar in its currency and sector exposures as well as the maturity and credit quality profile.

The investment strategy restricts the extent to which the portfolio holdings may deviate from the Benchmark and consequently the extent to which it can outperform the Benchmark. The investment strategy provides similar volatility to the benchmark over the medium to long term.

BNY Mellon Efficient Global High Yield Beta Fund

Objective: To provide similar performance and levels of volatility as the benchmark detailed below over the medium to long-term before fees and expenses.

Benchmark: The Fund will measure its performance against Bloomberg Barclays Global High Yield Corporate USD Hedged TR Index (the “Benchmark”). The Investment Manager will use the Benchmark to construct the investment universe. The Fund is actively managed and does not seek to replicate the full constituents of the Benchmark. The Investment Manager has limited discretion to invest outside the Benchmark subject to the investment objective and policies disclosed in the Prospectus.

The majority of the Fund’s holdings will be constituents of the Benchmark and as a result the Fund will be similar in its currency and sector exposures as well as the maturity and credit quality profile.

The investment strategy restricts the extent to which the portfolio holdings may deviate from the Benchmark and consequently the extent to which it can outperform the Benchmark. The investment strategy provides similar volatility to the Benchmark over the medium to long term.

BNY Mellon Efficient Global IG Corporate Beta Fund

Objective: To generate a return in excess of the Benchmark detailed below with similar levels of volatility over the medium to long term before fees and expenses.

Benchmark: The Fund will measure its performance against Bloomberg Barclays Global Aggregate Corporate TR Index USD Hedged.

The Investment Manager will use the Benchmark to construct the investment universe. The Fund is actively managed and does not seek to replicate the full constituents of the Benchmark. The Investment Manager has limited discretion to invest outside the Benchmark subject to the investment objective and policies disclosed in the Prospectus.

The majority of the Fund’s holdings will be constituents of the Benchmark and as a result the Fund will be similar in its currency and sector exposures as well as duration. However the Investment Manager does not seek to reflect the Benchmark’s maturity and credit quality profile.

The investment strategy provides similar volatility to the Benchmark over the medium to long term.