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Dreyfus Emerging Markets U.S. Dollar Fund announces plans to launch
By Toni Weeks
San Luis Obispo, Calif., Sept. 12 – Dreyfus BNY Mellon Funds, Inc. announced in an N-1A filing with the Securities and Exchange Commission its plans to offer a new fixed-income, emerging markets fund.
The Dreyfus Emerging Markets Debt U.S. Dollar Fund will seek to maximize total return. Under normal conditions, it will invest at least 80% of its net assets in emerging market bonds and other debt instruments denominated in U.S. dollars and in derivative instruments that provide investment exposure to such securities. Investments will consist primarily of U.S.-dollar-denominated emerging market sovereign, quasi-sovereign and corporate bonds and notes, including loan participation notes.
Alexander Kozhemiakin and Cathy Elmore will be the fund’s primary portfolio managers.
The fund will offer class A, class C, class I and class Y shares. The ticker symbols have not yet been set.
There will be a 4.5% maximum sales load on class A shares and a 1% maximum deferred sales load on class C shares. All share classes will be subject to a 2% redemption fee, which will be charged only when selling shares held for less than 60 days.
Management fees and total annual fund operating expenses have not yet been set.
New York-based Dreyfus Corp. will serve as the investment adviser.
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