Fund notification:
Income distributions update

As a consequence of the Covid-19 crisis, many global companies have begun to cut, cancel, suspend or postpone their dividends. In some cases the companies are being asked to make the suspensions by policy makers such as central banks or governments as a stipulation of receiving state aid. These are unusual times.

At BNY Mellon Investment Management, many of the equity income funds in our UK-domiciled Mellon Investment Funds (MIF) and our Dublin-domiciled Mellon Global Fund (MGF) ranges went ex-dividend (XD) on 31 March.

For the 31 March XD we took the latest information available to determine the estimated distribution rates we released. While some companies had already reduced or cancelled their dividend prior to this date, reducing the amount we announced for the May dividend payments, there is a growing trend of companies continuing to suspend or postpone their dividends.

By how much the income distributions on our funds will be affected is hard to anticipate or forecast. Our equity income funds each invest in different regions, markets and companies, which in turn will be taking various actions with their dividend distributions.

We are monitoring the implications of the ongoing dividend cancellations or deferments on a daily basis. At this time we cannot provide accurate indications of future changes to your final May distribution. We will continue to work closely with our service providers and advisors, including our depositary and auditor, and will agree to reduce and restate any estimated May payments as required and as is believed to be in the best interest of investors.

We will keep you informed through notices on this website as this trend progresses and plays out within our own portfolios.

BNY Mellon Investment Management’s equity income-distributing funds:

BNY MELLON INVESTMENT FUNDS (MIF)
BNY Mellon Asian Income Fund
BNY Mellon Emerging Income Fund
BNY Mellon Equity Income Booster Fund
BNY Mellon Equity Income Fund
BNY Mellon Global Income Fund
BNY Mellon Global Infrastructure Income Fund
BNY Mellon Multi-Asset Income Fund
BNY Mellon UK Income Fund
BNY Mellon US Equity Income Fund

BNY MELLON GLOBAL FUNDS (MGF)
BNY Mellon Asian Income Fund (USD)
BNY Mellon Global Equity Income Fund (USD)
BNY Mellon Global Infrastructure Income Fund (USD)
BNY Mellon Global Multi-Asset Income Fund (EUR)
BNY Mellon U.S. Equity Income Fund (USD)