SPARKSM shares empower
institutional clients to align their liquidity investments with
their philanthropic goals by contributing 10% of net revenue to an
eligible non-profit organization of their choice
NEW
YORK, Sept. 26, 2023 /PRNewswire/ -- Dreyfus,
one of the largest, trusted cash and liquidity managers, announced
today the launch of SPARKSM shares (ticker:
SPKXX).1 The share class allows clients to drive change
with their liquidity investments by directing a donation to an
eligible non-profit organization of their
choice.2,3 The donation is expected to result in a
positive, quantifiable impact for the selected organization.
"Dreyfus created SPARK shares to give clients the power to drive
change by selecting a charitable cause that aligns with their
giving goals," said Laide Majiyagbe,
Head of Financing and Liquidity at BNY Mellon Markets. "SPARK
shares support clients' philanthropic aspirations, and we are
pleased to make it available exclusively through BNY Mellon,
including our LiquidityDirect® platform."
Offered through the flagship Dreyfus Government Cash Management
fund, Dreyfus' largest money market fund with $115 billion in assets and nearly 40 years in
operation,4 SPARK shares will donate 10% of net
revenue5 annually to the selected non-profit based
on each client's average balance. Our inaugural investors,
including Jefferies, Macquarie Group and Protective Life
Corporation, have invested $1
billion6 in SPARK shares.
"Investors in SPARK shares can make a difference where they
believe it matters the most. Our aspiration is to help our clients
make their cash work harder by positively impacting their
communities," said Stephanie Pierce,
Chief Executive Officer for Dreyfus, Mellon and Exchange-Traded
Funds. "Our flagship Dreyfus Government Cash Management fund is an
industry-leading money market fund that offers a competitive yield
and is led by a seasoned team. Dreyfus is proud to extend our
legacy of innovation by helping clients make an impact while
managing their liquidity."
The launch of SPARK shares is another example of BNY Mellon's
endeavor to leverage its financial platforms and global
capabilities to support local communities. Dreyfus and BNY Mellon
are proud to offer investors the opportunity to fulfill their own
philanthropic goals, as well as their core liquidity needs, through
SPARK shares.
For more information on SPARK shares please visit:
https://www.dreyfus.com/products/the-spark-shares.html.
About Dreyfus
Dreyfus is one of the largest, trusted
liquidity managers in the industry. Our strategies span across all
major asset classes, including prime, Treasury, US government,
municipals and short duration fixed income. Investors can access
our capabilities in domestic and offshore money market mutual
funds, separately managed accounts and ETF vehicles. With nearly 50
years of history, we are committed to building innovative liquidity
solutions with our clients in mind. Dreyfus is a division of Mellon
Investments Corporation (MIC), a registered investment adviser and
subsidiary of BNY Mellon. BNY Mellon Investment Adviser, Inc.
(BMIA) has engaged its affiliate MIC to serve as the fund's
sub-adviser. For more information, please visit
www.dreyfus.com.
About BNY Mellon
Established in 1784, BNY Mellon is
America's oldest bank and the first company listed on the New York
Stock Exchange (NYSE: BK). Today, BNY Mellon powers capital markets
around the world through comprehensive solutions that help clients
manage and service their financial assets throughout the investment
life cycle. BNY Mellon had $46.9
trillion in assets under custody and/or administration and
$1.9 trillion in assets under
management as of June 30, 2023. BNY
Mellon has been named among Fortune's World's Most Admired
Companies and Fast Company's Best Workplaces for Innovators. BNY
Mellon is the corporate brand of The Bank of New York Mellon
Corporation. Additional information is available on
www.bnymellon.com. Follow us on LinkedIn or visit our Newsroom for
the latest company news.
About LiquidityDirect®
LiquidityDirect supports
$15 trillion in annual money market
fund (MMF) transaction flows for more than 6,000 clients across
every segment and region.7 A global leader in
providing access to money market funds for over 25 years,
LiquidityDirect offers comprehensive short-term investment
solutions including MMFs, Deposits, Commercial Paper, Insured Cash
Sweep (ICS®), FICC Repo, Ultra Short ETFs, and Mutual
Funds8 — delivering the leading investment and
liquidity options through a big picture view of your portfolio.
Additional information available at
https://certainty-bnymellon.com/LiquidityDirect.html.
About BNY Mellon Investment Management
BNY Mellon
Investment Management is one of the world's largest asset managers,
with $1.9 trillion in assets under
management as of June 30, 2023.
Through an investor-first approach, BNY Mellon Investment
Management brings to clients the best of both worlds: specialist
expertise from seven investment firms offering solutions across
every major asset class, backed by the strength, stability, and
global presence of BNY Mellon. Additional information on BNY Mellon
Investment Management is available on
www.bnymellonim.com.
BNY Mellon Investment Management is a division of BNY Mellon;
BNY Mellon is a global investments company dedicated to helping its
clients manage and service their financial assets throughout the
investment lifecycle. Whether providing financial services for
institutions, corporations or individual investors, BNY Mellon
delivers informed investment and wealth management and investment
services in 35 countries. As of June 30,
2023, BNY Mellon had $46.9
trillion in assets under custody and/or administration, and
$1.9 trillion in assets under
management. BNY Mellon can act as a single point of contact for
clients looking to create, trade, hold, manage, service, distribute
or restructure investments. BNY Mellon is the corporate brand of
The Bank of New York Mellon Corporation (NYSE: BK).
Additional information is available on www.bnymellon.com. Follow
us on Twitter @BNYMellon or visit our newsroom at
www.bnymellon.com/newsroom for the latest company news.
Media Contact
Sue
Watt
Sue.Watt@bnymellon.com
323.948.7784
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE
RESULTS.
Investors should consider the investment objectives, risks,
charges, and expenses of a money market fund carefully before
investing. To obtain a prospectus, or summary prospectus, if
available, that contains this and other information about the fund
visit www.dreyfus.com. Investors should read the prospectus
carefully before investing.
Government/Treasury Money Market Funds: You could
lose money by investing in a money market fund. Although the fund
seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do
so. An investment in the fund is not insured or guaranteed by the
Federal Deposit Insurance Corporation or any other government
agency. The fund's sponsor has no legal obligation to provide
financial support to the fund, and you should not expect that the
sponsor will provide financial support the fund at any
time.
This material has been distributed for informational purposes
only and should not be considered as investment advice or a
recommendation of any particular investment, strategy, investment
manager or account arrangement, and should not serve as a primary
basis for investment decisions. Please consult a legal, tax or
financial professional in order to determine whether an investment
product or service is appropriate for a particular situation.
The fund's investment adviser is BNY Mellon Investment Adviser,
Inc. (BNYM Investment Adviser). BNYM Investment Adviser has engaged
its affiliate, Dreyfus, a division of Mellon Investments
Corporation, to serve as the fund's sub-adviser.
Dreyfus is a division of Mellon Investments Corporation (MIC), a
registered investment adviser and subsidiary of The Bank of New
York Mellon Corporation. Securities are offered by BNY Mellon
Securities Corporation (BNYMSC), a registered broker-dealer and
affiliate of MIC.
1 The inception date for SPARK shares was
August 15, 2023.
2 BNY Mellon Investment Adviser, Inc. will make an
annual donation to charitable and other not-for-profit
organizations that are selected by holders of SPARKSM
shares (Donation). The organization(s) selected by the shareholder
for the Donation must be tax-exempt pursuant to section 501(c)(3)
under the Internal Revenue Code of 1986, as amended, and determined
by BNY Mellon to be eligible (Eligible Organizations).
3 Donation to be made from the fund's investment
adviser.
4 AUM as of August 31, 2023. The inception for
Institutional shares of Dreyfus Government Cash Management is March
13, 1985.
5 The Donation will be based on an amount
representing 10% of BNY Mellon Investment Adviser, Inc.'s net
revenue attributable to the fund's SPARK shares. "Net revenue"
represents the management fee paid by the fund to BNY Mellon
Investment Adviser, Inc. after any fee waivers and/or expense
reimbursements by BNY Mellon Investment Adviser, Inc. with respect
to SPARK shares, and will be paid from BNY Mellon Investment
Adviser, Inc.'s own past profits.
6 As of September 22, 2023.
7 BNY Mellon, as of June 30, 2023.
8 Products offered only in the U.S. to institutional
clients, unless otherwise permitted by local law, on
LiquidityDirect® through BNY Mellon Capital Markets, LLC.
View original
content:https://www.prnewswire.com/news-releases/dreyfus-launches-spark-shares-of-dreyfus-government-cash-management-available-exclusively-through-bny-mellon-301938064.html
SOURCE BNY Mellon Investment Management