BNY Mellon Investment Management, with $1.9 trillion in assets as of Jun 30, 2023, operates through seven different investment firms. These firms have the freedom to stick to their unique investment strategies and philosophies. BNY Mellon's focus on transparency, risk management, and solid track record makes its mutual funds appealing to investors.
Thus, from an investment perspective, we have handpicked three BNY Mellon mutual funds. These funds are anticipated to act as a hedge for your portfolio during economic downturns and offer appealing returns.
Mutual funds generally reduce transaction costs and diversify the portfolio without commission charges mostly associated with stock purchases (read more: Mutual Funds: Advantages, Disadvantages, and How They Make Investors Money).
These mutual funds, by the way, boast a Zacks Mutual Fund Rank #1 (Strong Buy)or 2 (Buy), have positive three-year and five-year annualized returns, minimum initial investments within $5000, and carry a low expense ratio.
BNY Mellon Income Stock BMIIX invests most of its assets in large-cap companies. BMIIX advisors also invest in dividend-paying stocks and growth stocks.
Keith Howell Jr. has been the lead manager of BMIIX since Sep 22, 2021. Most of the fund’s holdings were in companies like JPMorgan Chase & Co (5.4%), Cisco Systems, Inc (4.9%) and Sanofi (3.9%) as of May 31, 2023.
BMIIX’s 3-year and 5-year annualized returns are 19.3% and 9%, respectively. Its net expense ratio is 0.90% compared to the category average of 0.94%. BMIIX has a Zacks Mutual Fund Rank #1.
To see how this fund performed compared to others in its category, and other 1 and 2 Ranked Mutual Funds, please click here.
BNY Mellon Large Cap Securities Fund DREVX seeks to provide long-term capital growth consistent with the preservation of capital by investing in common stocks issued primarily by U.S. companies and in foreign securities.
Karen Miki Behr has been the lead manager of DREVX since Sep 22, 2021. Most of the fund's holdings were in companies like Apple Inc. (8.9%), Microsoft Corp (7.8%) and NVIDIA Corp. (6.4%) as of Jun 30, 2023.
DREVX’s 3-year and 5-year returns are 10.9% and 11.9%, respectively. The annual expense ratio is 0.70% compared to the category average of 0.99%. DREVX has a Zacks Mutual Fund Rank #1.
BNY Mellon Global Equity Income Fund DQEIX seeks long-term capital appreciation by investing in stocks of medium-sized to large companies that meet certain socially responsible criteria.
Jonathan Bell has been the lead manager of DQEIX since Mar 26, 2020. Most of the fund's holdings were in companies like Sanofi (3.4%), Roche Holding Ag (3.2%) and Cisco Systems, Inc (3.1%) as of Jul 31, 2023.
DQEIX’s 3-year and 5-year returns are 9.7% and 6.5%, respectively. The annual expense ratio is 0.93% compared to the category average of 1.07%. DQEIX has a Zacks Mutual Fund Rank #2.
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