Yahoo Finance 3 BNY Mellon Mutual Funds to Grab Amid Market Volatility
Headquartered in Manhattan, NY, BNY Mellon Investment Management is one of the largest investment management companies in the world. It is the asset management arm of The Bank of New York Mellon Corporation (popularly known as BNY Mellon). The company was incorporated on Jul 1, 2007, following the merger of The Bank of New York Company Inc. and Mellon Financial Corporation.
BNY Mellon had approximately $1.8 trillion in assets under management as of Sep 30, 2023. Investments in the company include pension funds, public funds, endowments and foundations. The company uses seven different specialized investment managers, each bringing its own strategy and expertise to the plate.
BNY Mellon operates from 35 locations in the Americas, Europe, the Middle East and Africa, and the Asia-Pacific. The company employed 51,700 people as of December 2022. For the third quarter, BNY Mellon’s earnings and revenues beat estimates. The bottom line rose 5% from the year-ago quarter and total revenues increased 2%. The performance was primarily aided by a rise in net interest revenues, marginally higher fee revenues and lower expenses. The assets under management balance also witnessed a rise, which was another major positive for the company.
The company continues to be a steady, trusted and diversified asset management firm, which seems to have weathered the macro-economic storms of the past two years. Thus, investing in mutual funds from BNY Mellon may provide the much-required stability and growth potential in a market that is expected to remain volatile for a while. Hence, astute investors should consider such funds at present.
Mutual funds, in general, reduce transaction costs and diversify portfolios without an array of commission charges that are mostly associated with stock purchases (read more: Mutual Funds: Advantages, Disadvantages, and How They Make Investors Money).
We have thus selected three mutual funds that boast a Zacks Mutual Fund Rank #1 (Strong Buy) or 2 (Buy), have positive three-year and five-year annualized returns and minimum initial investments within $5000, as well as carry a low expense ratio.
BNY Mellon Dynamic Value Fund DCGVX invests primarily in a varied portfolio of domestic and foreign value stocks of companies that the advisor believes have sound business fundamentals and positive momentum.
Keith Howell Jr. has been one of the lead managers of DCGVX since September 2021. The three top holdings for DCGVX are 4.4% in Berkshire Hathaway, 4.3% in JPMorgan Chase and 3.7% in Exxon Mobil.
DCGVX’s 3-year and 5-year annualized returns are 18% and 10.1%, respectively, and its net expense ratio is 0.68% compared to the category average of 0.94%. DCGVX has a Zacks Mutual Fund Rank #1. To see how this fund performed compared to its category, and other 1 and 2 Ranked Mutual Funds, please click here.
BNY Mellon Large Cap Securities DREVX primarily invests its equity securities of large-cap companies. DREVX advisors use fundamental analysis to create a broadly varied portfolio comprising growth stocks, value stocks or both.
Karen Behr has been one of the lead managers of DREVX since September 2021. The three top holdings for DREVX are 8.9% in Apple, 7.8% in Microsoft and 6.4% in Nvidia.
DREVX’s 3-year and 5-year annualized returns are 11.4% and 13.1%, respectively, and its net expense ratio is 0.71% compared to the category average of 0.99%. DREVX has a Zacks Mutual Fund Rank #1.
BNY Mellon Income Stock BMIIX invests most of its assets in large-cap companies. BMIIX advisors primarily focus on dividend-paying, income-generating value and growth stocks.
Keith Howell Jr. has been one of the lead managers of BMIIX since September 2021. The three top holdings for BMIIX are 4.8% in Cisco, 4.8% in JPMorgan Chase and 4% in Becton Dickinson.
BMIIX’s 3-year and 5-year annualized returns are 18.5% and 9.7%, respectively, and its net expense ratio is 0.90% compared to the category average of 0.94%. BMIIX has a Zacks Mutual Fund Rank #1.
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