CHARACTERISTICSAn unconstrained, actively managed multi-asset fund, that seeks to deliver above inflation real returns, with reduced volatility, through:

– Security selection

– Asset type flexibility

– Emphasis on capital preservation.

The Fund aims to deliver cash (1 Month EURIBOR) + 4% p.a. over 5 years before fees. However, a positive return is not guaranteed and a capital loss may occur.

Rigorous oversight of the portfolio by senior team members is supplemented by quantitative and qualitative risk controls.

WHY INVEST IN THIS FUND?

REGIONSINVESTMENT MANAGERA global investment manager, based in London, with nearly 40 years’ experience. Newton is renowned for its distinctive approach to global thematic investing.

ASSET CLASSEQUITIES

FIXED INCOME

MULTI-ASSET

SPECIALIST

FOR PROFESSIONAL CLIENTS AND, IN SWITZERLAND, FOR QUALIFIED INVESTORS ONLY. BNY MELLON GLOBAL FUNDS, PLC

BNY Mellon Global Real Return Fund (EUR)

The BNY Mellon Global Real Return Fund (EUR) is a global multi-asset strategy with an absolute-return performance aim. The Fund seeks to achieve absolute returns for investors through a flexible, unconstrained approach to investment across global asset classes.

1 UNCONSTRAINED, FLEXIBLE: There are no restrictions on the Fund’s asset allocation. The portfolio shifts tactically in accordance with Newton’s views on the investment world to identify both risks and opportunities across the global investment landscape in the pursuit of returns with fewer shocks, regardless of market conditions.

2 EMPHASIS ON LIMITING THE IMPACT OF VOLATILE MARKETS: The Fund places strong emphasis on core holdings with a capacity to generate capital and income – supplemented as appropriate by simple hedging positions to help dampen the impact of falling markets – offering investors the potential to enjoy long-term total return growth.

3 TRANSPARENT, SINGLE, DIRECTLY INVESTED PORTFOLIO: The Fund invests directly in liquid holdings. The dynamic, multi-asset structure of the portfolio means Newton can adjust the positioning proactively when opportunities present themselves.

4 EXPERIENCE AND TRACK RECORD: Investors benefit from the expertise of one of the most experienced investment teams in the business, with an average of 18 years’ investment experience and 15 years at Newton. This is supported by Newton’s global research team generating proprietary research. The fund carries a long strategy track record (launched in 2004) and boasts a positive return in every calendar year since inception (gross of fees)*.

*Source: Newton as at 30 April 2017. Performance calculated as total return, income reinvested, gross of fees, in GBP. Newton claims compliance with the Global Investment Performance Standards (GIPS). A GIPS compliant presentation is available upon request via your BNY Mellon Investment Management EMEA contact.

INVESTMENT PHILOSOPHYNewton’s investment philosophy is structured around the conviction that no company, market or economy can be considered in isolation; each must be understood in a global context.

The firm’s investment approach entails the comparison of asset classes and securities within a global framework, using global investment themes to help guide research through identifying key forces of change influencing investment opportunities.

The defining feature of the BNY Mellon Global Real Return Fund (EUR) is its flexibility, which is a product of its unconstrained approach to asset allocation and security selection. The Fund is managed dynamically with a view to ensuring that it is always appropriately positioned to achieve the desired outcome given the firm’s outlook at any specific time. The Fund is structured around a stable “core” of return-seeking assets, complemented by a periphery of other assets to hedge perceived risks, aiming to dampen volatility. The Fund does not borrow in order to leverage returns, or sell stocks short.

INVESTMENT TEAMNewton’s organisational structure encourages lateral thinking, fluid communication and the swift implementation of ideas. The firm’s analysts and investment managers are located on a single investment floor in London, which ensures that the investment process is flexible and opportunistic. The entire investment team is responsible for generating investment ideas.

– Career analysts work alongside portfolio managers within integrated research and fund management teams.

– The Real Return team is supported by the rest of the global funds team, as well as the wider investment group, totalling around 64 investment professionals.

– Strong team based, collaborative approach under the leadership of Iain Stewart.

Stabilising assets/hedging positions

Corporate debt

Currentreturn seeking

assetsGovernment

bondoptions

Cash / short dated bonds

Physicalgold

Goldequity

Index-linkedbonds

Commodities

Conventionalgovernment

bonds

Equitymarkethedges

Equityoption

strategies

Floatingrate notes

Activecurrencypositions

Currencyhedge

Infrastructure

Emerging Marketsdebt

Equities

Renewables

For illustrative purposes only.

Global Strategy Group

Fixed income team16 years’ average investment experience. 9 years at Newton

Thematic Focus Groups Bond/FX Strategy Group

Single location, interactive and collaborative approach

Real Return

Global Equity

Emerging & Asian Equity

Multi-Asset & UK

Fixed Income

Portfolio Managers

20 years’ investment experience

14 years at Newton

Credit analysis

Global Research

14 years’ investment experience

8 years at Newton

Industry analysts

Responsible Investment analysts

Aron Pataki

Suzanne Hutchins

Iain Stewart

Philip Shucksmith

Ian Clark

Lars Middleton

Matthew Brown

Source: Newton, 24 May 2017.Years’ investment experience and tenure at Newton are team average numbers.Total number of investment personnel = 64 (some investment professionals are included in more than one category).

INVESTMENT PROCESSThe framework for the investment process is the identification of investment themes. Newton’s global investment themes serve to focus the in-house global research, to offer valuable insight into the powerful forces of change affecting the global universe of investment opportunities, and to encourage debate.

Themes help both to identify the beneficiaries of such long-term global trends and to highlighting areas of risk.

The ideas generated by the global research team are discussed, agreed and consistently applied. At the macroeconomic level, Newton maintains views on the relative attractiveness of base asset classes and the sub-asset classes comprising these broad areas.

Taking these views into consideration, the investment manager constructs the portfolio by picking all the individual investments across markets and asset classes.

NEWTON’S STARTING

POINT IS THE…

…TO CONSTRUCT A SINGLE, DIVERSIFIED

PORTFOLIO WITH APPROPRIATE

CHARACTERISTICS

…THAT DRIVES BOTH PORTFOLIO

CONSTRUCTION AND RISK MANAGEMENT…

…WHICH PROVIDES BOTH A STRATEGIC

GUIDE AND THE PORTFOLIO BUILDING

BLOCKS …

...AND THEIR VIEW OF THE WORLD…

Research Recommended

Lists

Global Strategy & Outlook

ESG Quality Reviews

Portfolio Construction– Security

characteristics– Relative value– Expected return– Regional and

currency mix

Risk Assessment– Quantitative

assessment– Beta, correlation,

volatility– Scenario analysis

Hedging decisions– Composition, sizing

1

2 3 4 5

LOW

MEDIUM HIG

H

Performancereference(1 month

EURIBOR + 4%)

Volatility %

Real Return

Strategy

No

Hed

ging

Wit

h H

edgi

ng

Volatility

Medium

High

Low

Model Portfolios

INVESTMENT PARAMETERS – All stock positions are conviction based without reference

to any index.

– There are no restrictions on the asset allocation of the Fund; the manager tactically shifts the portfolio in accordance with Newton’s beliefs and views on the investment world in order to identify areas of both risk and opportunity.

– A maximum of 5% absolute weight in any one company at purchase.

– A maximum of 20% absolute weight in any global industry sector.

Important informationPast performance is not a guide to future performance. The value of investments can fall. Investors may not get back the amount invested. Income from investments may vary and is not guaranteed. For Professional Clients and, in Switzerland, for Qualified Investors only. This is a financial promotion and is not investment advice. For a full list of risks applicable to this fund, please refer to the Prospectus or other offering documents. Before subscribing, investors should read the most recent Prospectus, financial reports and KIID for each fund in which they want to invest. Investment Managers are appointed by BNY Mellon Investment Management EMEA Limited (BNYMIM EMEA) or affiliated fund operating companies to undertake portfolio management activities in relation to contracts for products and services entered into by clients with BNYMIM EMEA or the BNY Mellon funds. Go to www.bnymellon.com. Any views and opinions are those of the investment manager, unless otherwise noted. To help continually improve our service and in the interest of security, we may monitor and/or record your telephone calls with us. Portfolio holdings are subject to change, for information only and are not investment recommendations. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation and its subsidiaries. Newton Investment Management Limited (Newton) is authorised and regulated by the Financial Conduct Authority. Newton, BNY Mellon Centre, 160 Queen Victoria Street, London EC4V 4LA. Registered in England No. 1371973. Investments should not be regarded as short-term and should normally be held for at least five years. The Fund is a sub-fund of BNY Mellon Global Funds, plc, an open-ended investment company with variable capital (ICVC), with segregated liability between sub-funds. Incorporated with limited liability under the laws of Ireland and authorised by the Central Bank of Ireland as a UCITS Fund. The Management Company is BNY Mellon Global Management Limited (BNY MGM), approved and regulated by the Central Bank of Ireland. Registered address: 33 Sir John Rogerson’s Quay, Dublin 2, Ireland. In Austria, the current Prospectus and the Key Investor Information Document are available free of charge from Raiffeisen Zentralbank Österreich Aktiengesellschaft, Am Stadtpark 9, A-1030 Vienna. In France, the KIID, Prospectus, articles and latest annual report are freely available upon request to the centralising agent: BNP Paribas Securities Services, 3 rue d’Antin, 75002 Paris, tél: 00 33 1 42 98 10 00. In Belgium, the KIID, Prospectus, articles of association and latest annual report are freely available upon request to from the paying agent: JP Morgan Chase Bank, 1 Boulevard du Roi Albert II, B-1210 Bruxelles, Belgium. The Prospectus, KIIDs, articles of association, annual and half-yearly financial reports are available in French. In Germany, the prospectus is available from BNY Mellon Investment Management EMEA Limited, German branch, MesseTurm Friedrich-Ebert-Anlage 49, 60308 Frankfurt am Main, Germany. In Spain, BNY Mellon Global Funds is registered with the CNMV, Registration No. 267. In Switzerland, the Company is established as an open-ended umbrella type investment company under Irish law and the Sub-Funds are authorised by FINMA for distribution to non-qualified investors in or from Switzerland. The Swiss representative is Carnegie Fund Services S.A., 11, rue du Général-Dufour, 1204 Geneva. The Swiss paying agent is Banque Cantonale de Genève, 17, quai de l’Ile, 1204 Geneva. Investors in Switzerland can obtain the documents of the Company, such as the Prospectus, the KIIDs, the Memorandum and Articles of Association, the semi-annual and annual reports, each in their latest version as approved by FINMA, in German, and further information free of charge from the Swiss representative. BNY Mellon Investment Management EMEA Limited, BNY BNY MGM, and any other BNY Mellon entity mentioned are all ultimately owned by The Bank of New York Mellon Corporation. Except where specifically noted, performance is stated gross of management fees. The impact of management fees can be material. Further detail is available on request. Issued in UK , Jersey and Europe (excl. Switzerland) by BNY Mellon Investment Management EMEA Limited, BNY Mellon Centre, 160 Queen Victoria Street, London EC4V 4LA. Registered in England No. 1118580. Authorised and regulated by the Financial Conduct Authority. Issued in Switzerland by BNY Mellon Investments Switzerland GmbH, Talacker 29, CH-8001 Zürich, Switzerland. Authorised and regulated by the FINMA. PC00238 Exp. Date 30 November 2017. T5682 05/17

TO LEARN MORE ABOUT THIS FUND PLEASE CONTACT US:

+44 (0)20 7163 2367

internationalsales@bnymellon.com

www.bnymellonim.com

FUND OBJECTIVETo achieve a total return in excess of a cash benchmark (as described below) over an investment horizon of 3-5 years.

Performance aim: The Fund aims to deliver cash (1 Month EURIBOR) + 4% p.a. over 5 years before fees. However, a positive return is not guaranteed and a capital loss may occur.

GENERAL INFORMATIONLaunch date 08/03/10

Base currency EUR

Currencies Available EUR, CHF

Performance reference Cash (1 month EURIBOR) + 4%

Fund manager Aron Pataki