SOLUTIONS FOR REGISTERED INVESTMENT ADVISORS

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1 SOLUTIONS FOR REGISTERED INVESTMENT ADVISORS Delivering customized investment solutions and strategies to sophisticated fiduciaries and intermediaries For Use with Financial Professionals Only. Not for Use with the General Public.

2 We are a dedicated team delivering best-of-breed solutions and intellectual capital to fiduciaries serving the high-net-worth and ultra-high-net-worth markets.

3 BNY MELLON A Global Investments Management Powerhouse Turning Insight into Action Throughout the Investment Lifecycle BNY Mellon delivers expertise at each stage of the investment lifecycle. Whether you are looking to create, trade, hold, manage, distribute, or restructure investments, we can help. Corporate Trust Global Collateral Services Investment Management Global Collateral Services Pershing BNY Mellon Investment Management THE INVeSTMENTS COMPANY FOR THE WORLD BNY Mellon Investment Management is one of the world s leading investment management organizations offering: Financial strength RESTRUCTURE DISTRIBUTE CREATE OUR CLIENTS MANAGE TRADE, CLEAR AND SETTLE HOLD AND SERVICE A multi-boutique model that encompasses the investment skills of world class asset managers Corporate Trust Depositary Receipts Broker-Dealer Services Global Collateral Services Global Markets Treasury Services Asset Servicing Global Collateral Services Pershing BNY MELLON By The Numbers* $27.9 TRILLION Assets Under Custody and Administration $1.6 TRILLION Assets Under Management 7 th largest U.S. Asset Manager Institutional Investor, July th largest Global Asset Manager Pensions & Investments, November 2013 Rankings based on 2012 year-end data. *As of March Each has its own unique investment philosophy and proprietary investment process Each is a leader in its field with depth and breadth of expertise in every major asset class and sector specialists focused on generation of returns Centralized distribution and manufacturing solutions We know that specialization and focus are essential to investment management. Each of our independent asset management companies pursues its investment strategy with a passion and commitment that keeps them ahead of changing investment landscapes. All together, we have the skill to deliver uncorrelated alpha, and the scale to deliver diversified beta.

4 Helping RIAs Service the High-Net-Worth and Ultra-High-Net-Worth Market Many high-net-worth investors look to Registered Investment Advisors (RIAs) for unbiased recommendations to meet their individual needs. To help RIAs provide suitable investment determinations, BNY Mellon Investment Management is excited to partner with you, offering access to a world-class group of investment boutiques, each with expertise in its own investment category niche. Understanding Your Practice First, we make it our business to get to know your business. That means we take the time to learn: Your Firm s Unique Qualities Its history, key personnel, value proposition, client makeup and growth plans Perspective on a Partnership Best practices of your current partners, communications, intellectual capital and other support you might need Approach to Managing Money Capital market assumptions, asset allocation models, portfolio construction, manager selection/due diligence and implementation View on Current Themes/Trends General solutions you re looking for now, capital markets themes such as rising rates, and portfolio construction preferences Our Engagement Approach We have the people, philosophy and process in place to partner seamlessly with you. People Experienced professionals committed to the RIA community. Philosophy Drive a highly informed, consultative solutions-based approach to meet the unique sophisticated needs of RIAs. Process Develop long term, multi-solution relationships adding unique value with potentially high alpha-generating products. We also provide deep institutional insights from portfolio manager teams to help in constructing a total investment mosaic.

5 Seeking to Deliver Unique Solutions BNY Mellon counts among its clients corporations, sovereign wealth entities, central banks, states and municipalities, endowments and foundations. We seek to deliver the same types of customized investment solutions and strategies to you and your clients, either via traditional institutional investment vehicles or wrapped for lower account sizes within Dreyfus mutual funds. Rest assured that we understand the unique investment needs of your business, including transparency, proactive information flow, robust due diligence/reporting, style purity and investment professional access. Retail & Institutional Mutual Funds We work with you to develop and deliver appropriate investment strategies, and will also provide the ongoing servicing required. We deliver these strategies to you in multiple vehicles: Non- Traditional Sub- Advisory INVESTMENT STRATEGY Separately Managed Accounts Customized Solutions Collective Funds An Investment-Management Powerhouse BNY Mellon is a leading global investment firm, both geographically and across investment-related businesses. This gives us unique and innovative perspective across a range of topics, including changing investor needs, asset flows, capital markets trends and the global regulatory environment. The size and scope of our firms allows us to provide a stable platform and broad solution offerings to truly enable a consultative dialogue with our clients. BNY Mellon s multi-boutique model allows our portfolio management teams to be singularly focused on delivering strong risk-adjusted returns for investors over a full market cycle without the constraints of a house view or the need to divert significant amounts of time to marketing/assetgathering activities. Each has its own unique investment philosophy and proprietary investment process. And each is a leader in its field, with depth and breadth of expertise in every major asset class and sector.

6 World-Class Investment Management Through our diverse product lineup, you can access the full array of BNY Mellon s investment management resources via Dreyfus mutual funds, separate accounts and customized solutions. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. BNY Mellon has a majority ownership interest in Alcentra and a minority ownership interest in Hamon and Siguler Guff. Fayez Sarofim & Co. serves as a sub-adviser to certain Dreyfus funds and is not a Dreyfus or BNY Mellon affiliate and is not part of BNY Mellon Investment Management. BNY Mellon Cash Investment Strategies is a division of The Dreyfus Corporation. BNY Mellon Western FMC, Insight Investment Management Limited and Meriten Investment Management do not currently offer services in the U.S. A Wealth of Intellectual Capital Timely white papers cover a variety of industry topics and trends and are designed to provide the intellectual capital advisors need to succeed in today s complex marketplace. Authors include: Portfolio professionals from our 16 investment boutiques BNY Mellon Investment Strategy and Solutions Group (ISSG) BNY Mellon and Dreyfus Chief Economist Richard Hoey

7 Learn More Contact your RIA Consultant at or visit us at Investors should consider the investment objectives, risks, charges and expenses of a mutual fund carefully before investing. Investors should receive a prospectus, or a summary prospectus, if available, that contains this and other information about the fund, and should be advised to read the prospectus carefully before investing. Main Risks Equity funds are subject generally to market, market sector, market liquidity, issuer, and investment style risks, among other factors, to varying degrees. Small and midsize company stocks tend to be more volatile than large company stocks, mainly because these companies have less established and more volatile earnings histories. They also tend to be less liquid than larger company stocks. Bond funds are subject generally to interest rate, credit, liquidity, call, and market risks, to varying degrees. Generally, all other factors being equal, bond prices are inversely related to interest-rate changes and rate increases can cause price declines. Investing internationally involves special risks, including changes in currency exchange rates, political, economic and social instability, a lack of comprehensive company information, differing auditing and legal standards and less market liquidity. These risks are generally greater with emerging market countries than with more economically and politically established foreign countries. High yield bonds involve increased credit and liquidity risk compared with higher-quality bond funds. Below-investment-grade bonds are considered speculative as to the continuing ability of an issuer to make interest payments and repay principal. When there is little or no active trading market for specific types of securities, it can become more difficult to sell floating rate loan securities at or near their perceived value and may cause the fund s share price to fall dramatically. Additional risks associated with floating rate loan securities include irregular trading activity, wide bid/ask spreads and extended trade settlement periods. In addition, the value of collateral, if any, securing a floating rate loan can decline, and may be insufficient to meet the issuer s obligations in the event of non-payment of scheduled interest or principal or may be difficult to readily liquidate. Although floating rate instruments are generally less sensitive to interest rate changes than fixed-rate instruments, the value of floating rate loans and other floating rate securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. The use of derivative instruments, such as options, futures and options on futures, forward contracts, swaps, options on swaps, and other credit derivatives, involves risks different from, or possibly greater than, the risks associated with investing directly in the underlying assets. A small investment in derivatives could have a potentially large impact on the fund s performance. Real estate fund investments are concentrated in the securities of companies principally engaged in the real estate sector, the value of the fund s shares will be affected by factors particular to the real estate sector and may fluctuate more widely than that of a fund which invests in a broader range of industries. The securities of issuers that are principally engaged in the real estate sector may be subject to risks similar to those associated with the direct ownership of real estate. These include declines in real estate values and defaults by mortgagors or other borrowers. Securities are offered in the U.S. through MBSC Securities Corporation, a registered broker-dealer and FINRA member. Bank collective funds are unregistered products offered by BNY Mellon. Separate accounts are offered by the respective BNY Mellon Investment Management subsidiary. Each firm is a subsidiary of The Bank of New York Mellon Corporation. BNY Mellon Investment Management is one of the world s leading investment management organizations and one of the top U.S. wealth managers, encompassing BNY Mellon s affiliated investment firms, wealth management services and global distribution companies. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation.

8 2014 MBSC Securities Corporation, Distributor RIA-SOLBRO-0414