# Appendix IX
### ADDITIONAL INFORMATION ON FINANCIAL INDICES USED FOR INVESTMENT PURPOSES
Where set out in the relevant Supplement, a Sub-fund may gain indirect exposure to financial indices through the use of FDI for investment purposes. Details on where to find additional information on the financial indices are set out below.
| Indices | Link |
| --- | --- |
| AEX Index CAC 40 Index | https://live.euronext.com/en/products/indices |
| ASX SPI Index | https://www2.asx.com.au/markets/trade-our-derivatives-market/derivatives-market-  prices/index-derivatives |
| Borsa Istanbul | www.borsaistanbul.com |
| BOVESPA Index | https://www.b3.com.br/en_us/market-data-and-indices/indices/ |
| Barclays Capital Aggregate Bond Index | https://www.bloomberg.com/markets/rates-bonds/bloomberg-barclays-indices |
| Bloomberg Commodity Index | https://www.bloomberg.com/professional/product/indices/ |
| Chicago Board Options Exchange SPX Volatility Index | http://www.cboe.com/vix |
| Dax 30 Index MDAX Index | https://www.dax-indices.com/indices |
| EURIBOR | https://www.euribor-rates.eu/ |
| Euro Stoxx 50 Index Stoxx Europe 600 Index Stoxx Europe Small 200 | https://www.stoxx.com/indices |
| FTSE 100 Index FTSE 350 Supersectors Index FTSE All Share Index FTSE China 150 Index FTSE MIB Index FTSE Taiwan FTSE World Index FTSE/JSE Top 40 Index Russell 2000 Index | https://www.ftserussell.com/index |
| Hang Seng Index HSCEI Index | https://www.hsi.com.hk/eng |
| IBEX 35 Index | https://www.bolsamadrid.es/ing/aspx/Indices/Resumen.aspx |
| KOSPI Index KOPSI 200 Index | https://global.krx.co.kr |
| LIBOR | https://www.theice.com/iba/libor |
| Markit CDX North American Investment Grade Index Markit CDX American Investment Grade High Volatility Index Markit CDX North American High Yield Index Markit CDX North American High Yield Beta Index Markit CDX Emerging Markets Index Markit CDX Emerging Markets Diversified Index Markit iBoxx EUR Liquid High Yield Index Markit iBoxx GBP Corporates Index Markit iBoxx GEMX Index Markit iBoxx USD Domestic Corporates Index Markit iBoxx USD Liquid HY Index Markit iBoxx USD Liquid IG Index Markit iBoxx USD Liquid Leveraged Loans Index Markit iBoxx EUR Corporates Index Markit iTraxx Asia Index Markit iTraxx CDS Index Markit iTraxx Crossover Index Markit iTraxx Europe Index Markit iTraxx Europe Crossover (High Yield) Index Markit iTraxx Financial Index Markit iTraxx Senior Financials Index Markit iTraxx Subordinated Financial Index | https://ihsmarkit.com/products/indices.html |
| MSCI All Countries World Index MSCI Emerging Markets Index MSCI Singapore Index MSCI World Developed ex Europe Index | https://www.msci.com/index-solutions |

| Indices | Link |
| --- | --- |
| Nasdaq Composite Index Nasdaq 100 EMINI Index | https://www.nasdaq.com/ |
| Nikkei 225 Index | https://indexes.nikkei.co.jp/en/nkave/ |
| S&P/ASX 200 Index S&P 500 Index S&P CNX Nifty Index S&P Emerging Markets Index S&P GSCI Index S&P Midcap 400 Index S&P/TSX Composite Index S&P/TSX 60 Index | https://www.spglobal.com/spdji/en/index-finder/ |
| SOFR | https://apps.newyorkfed.org/markets/autorates/SOFR |
| SONIA | https://www.bankofengland.co.uk/markets/sonia-benchmark |
| Stockholm OMX Index | https://indexes.nasdaqomx.com/index/overview/omxs30 |
| Swiss Markit Index | https://www.six-group.com/exchanges/indices/ |
| TOPIX | https://www.jpx.co.jp/english/markets/indices/ |


## BNY Mellon Asian Equity Fund

### SUPPLEMENT 1 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- The Sub-Fund’s Net Asset Value may have a high level of volatility due to its investment policy.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
Newton Investment Management Limited

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro A | EUR | 5,000 | 5% | 2.00% | 0% |
| USD A | USD | 5,000 | 5% | 2.00% | 0% |
| Sterling A (Acc.) | GBP | 5,000 | 5% | 2.00% | 0% |
| Sterling A (Inc.) | GBP | 5,000 | 5% | 2.00% | 0% |

| “B” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro B | EUR | 10,000 | 5% | 1.50% | 0% |
| USD B | USD | 10,000 | 5% | 1.50% | 0% |

| “G” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 1.00% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| USD G (Inc.) | USD | 5,000 | 5% | 1.00% | 0% |
| Euro G (Acc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Acc.) | GBP | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Inc.) | GBP | 5,000 | 5% | 1.00% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro C | EUR | 5,000,000 | 5% | 1.00% | 0% |
| USD C | USD | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Inc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Acc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |

| “W” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Acc.) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| USD W | USD | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.75% | 0% |

| “X” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to achieve long term capital growth
through investment primarily (meaning at least two-thirds of the Sub-Fund’s assets) in a portfolio of equity and up to one-third of the Sub-Fund’s assets in a portfolio of equity-related securities of companies located in Asia
(excluding Japan) or deriving a preponderant part of their income therefrom.

##### Investment Policy
The Sub-Fund will invest primarily, meaning at least two- thirds of the Sub-Fund’s Net Asset Value, in a portfolio of equity and up to one-third of the Sub-Fund’s Net Asset Value in a portfolio of equity-related securities including
convertible bonds (usually unrated), convertible
preference shares and warrants (subject to a 10% limit of the Net Asset Value of the Sub-Fund in the case of warrants) of companies located in Asia (excluding Japan) or deriving a preponderant part of their income from Asia (excluding Japan). Investment may be made in both developed and emerging Asian regions (excluding Japan).
Up to one-third of the Sub-Fund’s Net Asset Value may
also be invested in equity and equity-related securities of
companies neither located in Asia (excluding Japan) nor deriving a preponderant part of their income from Asia (excluding Japan).
The Sub-Fund may invest less than 30% of its Net Asset Value in China A-shares via the Stock Connect. Further details about the Stock Connect are set out in Appendix V in the Prospectus.
The majority of the Sub-Fund’s investments shall be listed or traded on Eligible Markets located in Asia and the Pacific Region.
In addition, the Sub-Fund will not invest more than 10% of its Net Asset Value in aggregate in collective investment schemes.

##### Benchmark
MSCI AC Asia Pacific ex Japan TR Index (the
“Benchmark”).
The Benchmark captures large and mid cap representation across developed markets countries (excluding Japan) and emerging markets countries in the Asia Pacific region. With 1,060 constituents, the index covers approximately 85% of the free float-adjusted market capitalization in each country.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest outside the Benchmark subject to the investment
objective and policy. While the Sub-Fund’s holdings may
include constituents of the Benchmark, the selection of
investments and their weightings in the portfolio are not influenced by the Benchmark. The investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.

##### Investment Strategy
The investment philosophy is based upon the conviction of the Investment Manager that no company, market or economy can be considered in isolation; each must be understood in a global context. The Investment Manager believes that events occurring around the world influence all financial markets and that successful investment in Asian equities requires therefore a thorough understanding of the world as a whole.
The Investment Manager identifies themes which encompass the major areas of change in the world and use these themes as the basis of their investment ideas. A global, thematic approach allows the Investment
Manager to gain long-term perspective on global financial markets and economies and always to consider the ‘big picture’. Perspective is a defining feature of their investment process; it helps them to anticipate how the
world will change and it directs analysts and portfolio managers towards profitable opportunities.
The Investment Manager’s Asian equity portfolios are constructed holistically using research-driven/’bottom-up’ investment process. This approach concentrates on
investing in attractively valued stocks of companies with good prospects and strong fundamentals.

##### The Sustainable Finance Disclosure Regulation
The consideration of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively impacted by
an ESG event or condition (“ESG Event”).
The Investment Manager has access to a variety of ESG- related data points provided by third party data which assists with the identification of potential ESG-related issues that an issuer may be facing. This includes but is not limited to exposure to activities that may be deemed
harmful to the environment or society. This data, along with data from the Investment Manager’s own proprietary responsible investment research resources, forms a central part of the Investment Manager’s consideration and assessment of the level of sustainability risk that an
investment may be subject to.
This assessment is integrated in to the security level research process, which is based upon fundamental analysis of individual investment opportunities across a number of different factors including:
- Fundamental financial or economic characteristics
- Valuation
- Risk/reward profile
- The ESG characteristics of the issuer, including understanding how such considerations can impact economic returnsThe information gathered from the fundamental analysis conducted will be taken into account by the Investment Manager in deciding whether to acquire a holding in an issuer or continue to hold a position.

As explained above, the assessment and management of sustainability risks forms an important part of the
Investment Manager’s due diligence process, however,
there may still be a risk that the value of the Sub-Fund
could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of
the principal adverse impact consideration regime in Article 4 SFDR, (the “PAI regime”). The Manager is supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Registration in Germany
This Sub-Fund is registered for sale in Germany. The Sub- Fund is classified as an Equity Fund for German tax purposes and as such it will permanently invest more than 50% of its assets in equities as defined in article 2 paragraph 8 of the German Investment Tax Act.

#### Registration in Hong Kong
This Sub-Fund is registered for sale in Hong Kong.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 50% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.
In utilising FDI for EPM purposes, the Sub-Fund may gain indirect exposure to financial indices.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. securities lending arrangements and repurchase/reverse repurchase
agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of
SFTs shall be 100% of the Net Asset Value of the Sub- Fund. However, it is not anticipated that the Sub-Fund’s exposure to the SFTs will exceed 15% of the Net Asset
Value. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Management of Collateral”, “Appendix III -
Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1£ or 1€ depending on the currency of the relevant class (plus the
sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset
Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will
normally be paid on or before 11 February. Further details are set out under the heading “The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Small Cap Euroland Fund

### SUPPLEMENT 2 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- The Sub-Fund’s Net Asset Value may have a high level of volatility due to its investment policy.


#### The Investment Manager
Newton Investment Management North America LLC

#### Base Currency
Euro

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro A | EUR | 5,000 | 5% | 2.00% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 2.00% | 0% |
| USD A | USD | 5,000 | 5% | 2.00% | 0% |

| “B” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro B | EUR | 10,000 | 5% | 1.50% | 0% |

| “G” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 1.00% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 1.00% | 0% |
| Euro G (Acc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 1.00% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro C | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| USD C | USD | 5,000,000 | 5% | 1.00% | 0% |
| USD I (Acc.) (hedged) | USD | 5,000,000 | 5% | 1.00% | 0% |

| “W” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro W (Acc.) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |

| “X” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to provide long term capital growth through investment primarily, meaning at least 90% of its assets, in a portfolio of equity and equity-related securities of small-cap companies that are located in countries which have the Euro as their unit of currency
(“Euroland Countries”).

##### Investment Policy
The Sub-Fund aims to provide long-term capital growth through investment primarily, meaning at least 90% of its Net Asset Value, in a portfolio of equity and equity- related securities of small cap companies that are located in Euroland Countries. These include common and preferred stocks and shares, warrants (subject to a 10% limit of Net Asset Value of the Sub-Fund in the case of warrants), stock purchase rights, convertible securities, depositary receipts, and, for efficient portfolio management purposes, equity indexed futures contracts.
The Sub-Fund may also invest up to 10% of its Net Asset Value in equity and equity-related securities of small cap
companies located in Europe but not currently included in the Euroland Countries (see “Approved Countries”).
The Sub-Fund will invest in the securities of those companies that have total market capitalisations that fall in the range of the capitalisations of the companies that comprise the S&P EuroZone SmallCap TR Index (the
“Benchmark”) or such other similarly constructed index as
the Investment Manager may select from time to time.
In addition, the Sub-Fund will not invest more than 10% of its Net Asset Value in aggregate in collective investment schemes.
Securities in which the Sub-Fund will invest will be listed on Eligible Markets.
Approved Countries
Currently the Sub-Fund may invest in any country in the Benchmark. Investment outside the Benchmark is allowed up to a maximum of 10% to allow for the inclusion or the removal of the country from the Benchmark in the Euroland Countries. In other words, the Sub-Fund will invest at least 90% of its Net Asset Value in countries which form part of the Benchmark.
Country Diversification Policy
The Sub-Fund will focus on individual stock selection
rather than trying to predict which countries will perform well. However, the Sub-Fund’s country allocation may differ from the Benchmark as a by-product of the stock-
selection process. The maximum deviation from the Benchmark is likely to be 5%.
- Typically, the Sub-Fund will hold as many countries as are represented in the Benchmark.

Sector Diversification Policy
The Sub-Fund will focus on individual stock selection
rather than trying to predict which sectors will perform well. However, the Sub-Fund’s sector allocation may differ from the Benchmark as a by-product of the stock-
selection process. The maximum deviation from the Benchmark is likely to be 5%.
- Typically, the Sub-Fund will hold as many sectors as are represented in the Benchmark.
- Normally, the weighting in any one sector shall not be more than 30%.

Stock Selection Process
- The Sub-Fund’s stock selection process is designed to produce a diversified portfolio that, relative to theBenchmark has a lower valuation and higher earnings growth trend. The Sub-Fund will use proprietary quantitative models to identify attractive stocks as well as traditional qualitative analysis to select stocks.
- The Sub-Fund may purchase stocks that were not identified by the models but deemed attractive by fund analysts in order to control portfolio risk or pursue alpha. The Sub-Fund may group stocks into micro-universes of similar companies to facilitate comparisons.

Cash Positions
The Sub-Fund aims to remain fully invested at all times and maintain modest cash positions as ancillary liquid assets, typically less than 5%. However, during periods of unusually high subscription activity the cash position could exceed this level over the short term but will not exceed a maximum level of 10%.
Hedging of Currencies
The Sub-Fund does not intend to take active currency positions. Foreign currency balances will be converted
into the base currency as trading occurs. Cross “hedging”
of currencies is permitted as long as it does not result in
short positions after taking into account the underlying assets. It is anticipated that cross-hedging of currencies will be only be utilised in unusual circumstances and by way of forward foreign exchange contracts.

##### Benchmark
S&P EuroZone SmallCap TR Index (the “Benchmark”).
The Benchmark forms part of the S&P Developed SmallCap Index series. This Benchmark represents, on a country-by-country basis of Eurozone-member countries, the bottom 15% of the cumulative available capital of the S&P Developed Broad Market Index.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest
outside the Benchmark subject to the investment objective and policy. While the majority of the Sub-Fund’s holdings are expected to be constituents of, and have
similar weightings to, the Benchmark, the investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.

##### Investment Strategy
The Sub-Fund has a research-driven investment strategy that combines the strengths of fundamental and quantitative capabilities to generate investment results driven by bottom-up stock selection. Hallmarks of the investment approach are a portfolio with high active share and a core positioning driven by a barbell methodology in which the Investment Manager balances
elements of value and quality growth at the portfolio rather than the security level. The consistent thread that ties the process together is a systematic risk management process, executed on a daily, weekly and monthly basis to ensure a balanced portfolio capable of providing a consistent, compelling relative return profile.
The ultimate core positioning of the portfolio is obtained through a thoughtful blend of value and growth-oriented securities. The strategy does not attempt to create a portfolio where all security characteristics are similarly
“core” in nature – meaning a modest valuation discount
with better-than-market earnings growth potential. The
Investment Manager acknowledges that through a full market cycle, there will be times when there are more, or fewer, ideas that combine all of the compelling elements of a discounted valuation plus strong relative earnings
growth potential. As a result, the Investment Manager does not force stocks to all look “core” in nature, but instead seeks to balance the portfolio with a blend of the
best value opportunities available in the market with the best quality growth/momentum ideas.
The Sub-Fund’s strategy is earnings focused, research driven and risk aware. The investment philosophy is to
add value through a combination of relative value and relative growth disciplines. Security selection is the cornerstone of the investment philosophy.
Earnings Focused: The Investment Manager believes that in the long run stock prices follow earnings growth. We invest in companies with accelerating business momentum and undervalued earnings strength.
Research Driven: Fundamental and quantitative research techniques are essential to the identification of attractive valuation and improving business momentum. The Investment Manager believes that the best way to add value is through our global research capabilities. It
utilizes a broad range of proprietary computer models, and we capitalize on our analysts’ industry expertise. It looks to identify the surprises that move markets and
stocks.
Consistent: The Investment Manager believes that the most consistent factors leading to outperformance in stock selection are:
- Improving business momentum
- Attractive valuationRisk Aware: The Investment Manager attempts to provide solid risk-adjusted returns by minimizing the unintended risks it takes. By spending the tracking error on stock- specific risks, the Investment Manager hopes to consistently outperform the Benchmark independent of the market environment.


##### The Sustainable Finance Disclosure Regulation
The management of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying
investments could be materially negatively impacted by an ESG event or condition (“ESG Event”).
As part of the bottom-up security research process, the Investment Manager assesses the environmental, social and governance factors of each portfolio investment for
potential sustainability risks. These factors may include, but are not limited to, an issuers impact on the
environment, including emissions, land use and waste practices, and an issuer’s social policies and practices, including employee matters, supply chain practices and human rights policies. The Investment Manager’s internal credit research includes resources such as the Investment Manager’s proprietary ESG score as an input and is supplemented with third-party resources including
MSCI ESG data and ratings, Bloomberg ESG data, Sustainability Accounting Standards Board’s (SASB) Engagement Guide, credit rating agency research, sell-
side research and industry events. This research into
sustainability risks is taken into consideration, along with the Investment Manager’s macroeconomic research and credit analysis, in the security selection process.
The Investment Manager also assesses the governance practices of issuers through its fundamental research, supplemented by third-party governance scoring methodologies, in order to satisfy itself that the relevant issuers follow good governance practices, in particular with respect to sound management structures, employee relations, remuneration of staff and tax compliance.
The Investment Manager monitors sustainability factors
and risk exposures on a regular basis by reviewing regular reporting on both the Investment Manager’s proprietary and third-party ESG scores.
As explained above, the management and assessment of sustainability risks forms an important part of the Investment Manager's due diligence, however there may still be a risk that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of
the principal adverse impact consideration regime in Article 4 SFDR, (the “PAI regime”). The Manager is supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Registration in Germany
This Sub-Fund is registered for sale in Germany. The Sub- Fund is classified as an Equity Fund for German tax purposes and as such it will permanently invest more than 50% of its assets in equities as defined in article 2 paragraph 8 of the German Investment Tax Act.

#### Registration in Hong Kong
This Sub-Fund is registered for sale in Hong Kong.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 50% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions
and limits set out in the Central Bank UCITS Regulations. Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.
In utilising FDI for EPM purposes, the Sub-Fund may gain indirect exposure to financial indices.
Cross currency hedging transactions are permitted as long as they do not result in short positions after taking into account the underlying assets. It is anticipated that the cross currency hedging of currencies will only be utilised in unusual circumstances and by way of forward exchange contracts.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. securities lending arrangements and repurchase/reverse repurchase
agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of
SFTs shall be 100% of the Net Asset Value of the Sub- Fund. However, it is not anticipated that the Sub-Fund’s exposure to the SFTs will exceed 15% of the Net Asset
Value. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be issued during their respective Initial Offer Periods at their
respective initial offer price per Share of 1USD, 1£ or 1€
depending on the currency of the relevant class (plus the
sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February. Further details
are set out under the heading “The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Global Bond Fund

### SUPPLEMENT 3 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. The use of FDI for investment purposes will not be extensive. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.


#### The Investment Manager
Newton Investment Management Limited

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro A | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| USD A | USD | 5,000 | 5% | 1.00% | 0% |
| Euro H (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |

| “B” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD B | USD | 10,000 | 5% | 0.85% | 0% |

| “G” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 0.50% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 0.50% | 0% |
| Euro G (Acc.) | EUR | 5,000 | 5% | 0.50% | 0% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 0.50% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| Sterling G (Acc.) | GBP | 5,000 | 5% | 0.50% | 0% |
| Sterling G (Inc.) | GBP | 5,000 | 5% | 0.50% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro C | EUR | 5,000,000 | 5% | 0.50% | 0% |
| USD C | USD | 5,000,000 | 5% | 0.50% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 0.50% | 0% |
| Sterling C (Inc.) | GBP | 5,000,000 | 5% | 0.50% | 0% |
| Sterling C (Acc.) | GBP | 5,000,000 | 5% | 0.50% | 0% |
| Euro I (hedged) | EUR | 5,000,000 | 5% | 0.50% | 0% |
| AUD I (Acc.) (hedged) | AUD | 5,000,000 | 5% | 0.50% | 0% |
| AUD I (Inc.) (hedged) | AUD | 5,000,000 | 5% | 0.50% | 0% |

| “W” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| EUR W (Acc.) | EUR | 15,000,000 | 5% | 0.40% | 0% |
| EUR W (Inc.) | EUR | 15,000,000 | 5% | 0.40% | 0% |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.40% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.40% | 0% |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.40% | 0% |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.40% | 0% |
| CHF W (Acc.) | CHF | 15,000,000 | 5% | 0.40% | 0% |
| CHF W (Inc.) | CHF | 15,000,000 | 5% | 0.40% | 0% |
| EUR W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.40% | 0% |
| EUR W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.40% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.40% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.40% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.40% | 0% |
| CHF W (Inc.) (hedged) | CHF | 15,000,000 | 5% | 0.40% | 0% |

| “Z” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Sterling Z (Acc.) (hedged) | GBP | 200,000,000 | 5% | 0.30% | 0% |
| Sterling Z (Inc.) (hedged) | GBP | 200,000,000 | 5% | 0.30% | 0% |

| “X” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| USD X | USD | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to maximise total returns from
income and capital growth through investment primarily (meaning at least 90% of the Sub-Fund’s assets) in a portfolio of international, sovereign, government, agency,
corporate, bank and asset-backed debt and debt-related securities and in derivatives.

##### Investment Policy
The Sub-Fund will primarily invest, meaning at least 90% of the Sub-Fund’s Net Asset Value, in a portfolio of international, sovereign, government, supranational
agency, corporate, bank and other bonds (including mortgage and corporate bonds) and other debt and debt- related securities (such as debentures, notes (including corporate, sovereign, floating and fixed rate notes with a minimum term of one year or more) asset and mortgage- backed securities, certificates of deposit, commercial paper and American and/or Global Depository Receipts) listed or traded on Eligible Markets located worldwide and in FDI.
No more than 10% of the Sub-Fund’s Net Asset Value will be listed or traded on Eligible Markets located in emerging market regions.
The minimum credit rating of the debt and debt-related instruments in which the Sub-Fund may invest at time of purchase is BBB-, (or its equivalent), as rated by a Recognised Rating Agency. In the case of a split rating, the highest rating will be considered. If an instrument is unrated, it must be of equivalent quality as determined by the Investment Manager.
In addition, the Sub-Fund will not invest more than 10% of its Net Asset Value in aggregate in collective investment schemes.
The Sub-Fund may also invest up to 10% of its Net Asset Value in debt and debt-related securities in the People’s Republic of China (“PRC”) traded in the China interbank bond market (“CIBM”) via Bond Connect (as further described Appendix VI to the Prospectus.)

##### Benchmark
JP Morgan Global GBI Unhedged TR Index (the
“Benchmark”).
The Benchmark is a bond index representative of the fixed-rate government securities. Global Bond Income indices generally track fixed rate issuances from high- income countries spanning North America, Europe, and Asia.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest
outside the Benchmark subject to the investment objective and policy. While the Sub-Fund’s holdings may include constituents of the Benchmark, the selection of
investments and their weightings in the portfolio are not influenced by the Benchmark. The investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.

##### Investment Strategy
The investment philosophy is based upon the conviction of the Investment Manager that no company, market or economy can be considered in isolation; each must be understood in a global context. The Investment Manager believes that events occurring around the world influence all financial markets and that successful investment in global bonds requires therefore a thorough understanding of the world as a whole.
The Investment Manager identifies themes which encompass the major areas of change in the world and use these themes as the basis of their investment ideas. This global, thematic approach allows the Investment
Manager to gain long-term perspective on global financial markets and economies and always to consider the ‘big picture’. Perspective is a defining feature of their investment process; it helps to anticipate how the world
will change and it directs analysts and portfolio managers towards profitable opportunities.
The Investment Manager’s approach to managing its global bond portfolios is to identify the themes acting upon bond and currency markets, to select assets that
will benefit from these themes and to invest to generate positive returns. Typically, the major contributors to performance are portfolio duration, yield-curve positioning, and currency and country allocation.

##### The Sustainable Finance Disclosure Regulation
The consideration of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively impacted by
an ESG event or condition (“ESG Event”).
The Investment Manager has access to a variety of ESG- related data points provided by third party data which assists with the identification of potential ESG-related issues that an issuer may be facing. This includes but is not limited to exposure to activities that may be deemed harmful to the environment or society. This data, along
with data from the Investment Manager’s own proprietary
responsible investment research resources, forms a central part of the Investment Manager’s consideration and assessment of the level of sustainability risk that an
investment may be subject to.
This assessment is integrated in to the security level research process, which is based upon fundamental analysis of individual investment opportunities across a number of different factors including:
- Fundamental financial or economic characteristics
- Valuation
- Risk/reward profile
- The ESG characteristics of the issuer, including understanding how such considerations can impact economic returnsThe information gathered from the fundamental analysis conducted will be taken into account by the Investment Manager in deciding whether to acquire a holding in an issuer or continue to hold a position.

As explained above, the assessment and management of
sustainability risks forms an important part of the Investment Manager’s due diligence process, however, there may still be a risk that the value of the Sub-Fund
could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Government Bond Futures Currency Futures Money Market Futures |
| --- | --- |
| Options | Options on Government Bond Futures Options on Currency Futures Currency Options (including FX Options) |
| Forwards (de- liverable and non-deliver- able) | Forward Foreign Exchange Contracts |
| Swaps | Credit Default Swaps (single name, index and custom basket) |
| Securities with Embedded FDI/Leverage | Asset-Backed Securities (ABS) and Mortgage- Backed Securities (MBS) |

A list of the Eligible Markets on which FDI may be quoted or traded is set out in Appendix II of the Prospectus.
Further details regarding the use of FDI for EPM and investment purposes, including their commercial purpose, are described in the Prospectus in the section entitled
“The Company – Financial Derivative Instruments and Techniques”. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – FDI, Techniques and Other Instrument Risks”.

#### Registration in Hong Kong
This Sub-Fund is registered for sale in Hong Kong.

#### Registration in Taiwan
This Sub-Fund is registered for sale in Taiwan. The following investment restrictions, which may be amended from time to time, apply to Sub-Funds Registered for sale in Taiwan.
- Where the Sub-Fund invests in China securities markets, only listed securities and interbank bond market can be invested directly or indirectly, the aggregate percentage of which cannot exceed 20% ofits Net Asset Value. ‘China securities markets’ meanssecurities available on any exchange or interbankbond market within mainland China; Hong Kong and Macau are not included. Please refer to Appendix II for a list of eligible markets, including those located in mainland China.


#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 40% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. securities lending arrangements and repurchase/reverse repurchase
agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of
SFTs shall be 100% of the Net Asset Value of the Sub- Fund. However, it is not anticipated that the Sub-Fund’s exposure to the SFTs will exceed 15% of the Net Asset
Value. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class
shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1£, 1€, 1CHF or 1AUD depending on the currency of the relevant
class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the USD C (Inc.) share class, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September and paid on or before 11 February, 11 May, 11 August and 11 November.
In the case of income generating (Inc.) and accumulating (Acc.) share classes except for the USD C (Inc.) share class, dividends will normally be declared semi-annually on 30 June and 31 December. For holders of income generating Shares, the declared dividends will normally
be paid on or before 11 August and 11 February. Further details are set out under the heading “The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Global Equity Fund

### SUPPLEMENT 4 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
Newton Investment Management Limited

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro A | EUR | 5,000 | 5% | 2.00% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 2.00% | 0% |
| USD A | USD | 5,000 | 5% | 2.00% | 0% |

| “B” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD B | USD | 10,000 | 5% | 1.50% | 0% |
| Euro B | EUR | 10,000 | 5% | 1.50% | 0% |

| “G” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 1.00% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 1.00% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| Euro G (Acc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 1.00% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro C | EUR | 5,000,000 | 5% | 1.00% | 0% |
| USD C | USD | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| AUD I (Acc.) (hedged) | AUD | 5,000,000 | 5% | 1.00% | 0% |

| “W” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Acc.) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.75% | 0% |

| “X” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to achieve long term capital growth
through investment primarily (meaning at least two-thirds of the Sub-Fund’s assets) in a portfolio of equity securities of companies located worldwide. Up to one- third of the Sub-Fund’s assets may be invested in a portfolio of equity-related or debt securities of
companies located worldwide.

##### Investment Policy
The Sub-Fund will invest primarily, meaning at least two- thirds of the Sub-Fund’s Net Asset Value, in a portfolio of equity securities of companies located worldwide.
Up to one-third of the Sub-Fund’s Net Asset Value may be invested in a portfolio of equity-related securities, including convertible bonds (usually unrated), convertible
preference shares and warrants (subject to a 10% limit of Net Asset Value of the Sub-Fund in the case of warrants) of companies located worldwide or in international, sovereign, government, supranational agency, corporate, bank and other bonds (including mortgage and corporate bonds) and other debt and debt-related securities (such as debentures, notes (including corporate, sovereign, floating and fixed rate notes with a minimum term of one year or more) or asset and mortgage-backed securities,
certificates of deposit, commercial paper and American or Global Depository Receipts) listed or traded on Eligible Markets located worldwide.
The minimum credit rating of the debt and debt-related securities in which the Sub-Fund may invest at time of purchase is BBB- (or its equivalent), as rated by a Recognised Rating Agency. In the case of a split rating, the highest rating will be considered. If an instrument is unrated, it must be of equivalent quality as determined by the Investment Manager.
The Sub-Fund invests on a global basis and while there is no geographical, industry or sector focus, the Sub-Fund may at times be concentrated in particular industries, sectors or countries including the U.S.
Methods of gaining exposure to Chinese securities may include purchasing China A-shares via the Stock Connect. The Sub-Fund may invest up to 10% of its Net Asset Value in China A-shares via the Stock Connect. Further details about the Stock Connect are set out in Appendix V to the Prospectus.
A list of the Eligible Markets on which FDI may be quoted or traded is set out in Appendix II of the Prospectus.
In addition, the Sub-Fund will not invest more than 10% of its Net Asset Value in aggregate in collective investment schemes.

##### Benchmark
MSCI AC World NR Index (the “Benchmark”).
The Benchmark is a comprehensive indicator of the performance of the global equity market, capturing large and mid-cap representation across developed and emerging markets countries. With over 2,000 constituents, it covers approximately 85% of the global investable equity opportunity set. The Benchmark implements a comprehensive and consistent approach to index construction that allows for meaningful global views and cross regional comparisons across all market capitalization size, sector and style segments and combinations. This methodology aims to provide exhaustive coverage of the opportunity set with a strong emphasis on index liquidity, investability and replicability. The Benchmark is reviewed quarterly to reflect changes in the underlying equity markets, while limiting undue index turnover.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest
outside the Benchmark subject to the investment objective and policy. While the Sub-Fund’s holdings may include constituents of the Benchmark, the selection of
investments and their weightings in the portfolio are not influenced by the Benchmark. The investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.

##### Investment Strategy
The investment philosophy is based upon the conviction of the Investment Manager that no company, market or economy can be considered in isolation; each must be understood in a global context. The Investment Manager believes that events occurring around the world influence all financial markets and that successful investment in global equities requires therefore a thorough understanding of the world as a whole.
The Investment Manager identifies themes which encompass the major areas of change in the world and use these themes as the basis of our investment ideas. This global, thematic approach allows the Investment
Manager to gain long-term perspective on global financial markets and economies and always to consider the ‘big picture’. Perspective is a defining feature of their investment process; it helps them to anticipate how the
world will change and it directs analysts and portfolio managers towards profitable opportunities.
The global equity portfolios are constructed holistically using the research-driven/’bottom-up’ investment process of the Investment Manager. They do not follow
either a value or growth investment style exclusively; instead, they concentrate on investing in attractively valued stocks of companies with good prospects and strong fundamentals.

##### The Sustainable Finance Disclosure Regulation
The consideration of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively impacted by
an ESG event or condition (“ESG Event”).
The Investment Manager has access to a variety of ESG- related data points provided by third party data which assists with the identification of potential ESG-related issues that an issuer may be facing. This includes but is not limited to exposure to activities that may be deemed
harmful to the environment or society. This data, along with data from the Investment Manager’s own proprietary responsible investment research resources, forms a central part of the Investment Manager’s consideration and assessment of the level of sustainability risk that an
investment may be subject to.
This assessment is integrated in to the security level research process, which is based upon fundamental analysis of individual investment opportunities across a number of different factors including:
- Fundamental financial or economic characteristics
- Valuation
- Risk/reward profile
- The ESG characteristics of the issuer, including understanding how such considerations can impact economic returnsThe information gathered from the fundamental analysis conducted will be taken into account by the Investment Manager in deciding whether to acquire a holding in an issuer or continue to hold a position.

As explained above, the assessment and management of sustainability risks forms an important part of the
Investment Manager’s due diligence process, however,
there may still be a risk that the value of the Sub-Fund
could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Registration in Germany
This Sub-Fund is registered for sale in Germany. The Sub- Fund is classified as an Equity Fund for German tax purposes and as such it will permanently invest more than 50% of its assets in equities as defined in article 2 paragraph 8 of the German Investment Tax Act.

#### Registration in Hong Kong
This Sub-Fund is registered for sale in Hong Kong.

#### Registration in Taiwan
This Sub-Fund is registered for sale in Taiwan. The following investment restrictions, which may be amended from time to time, apply to Sub-Funds registered for sale in Taiwan.
- Where the Sub-Fund invests in China securities markets, only listed securities and interbank bond market can be invested directly or indirectly, the aggregate percentage of which cannot exceed 20% ofits Net Asset Value ‘China securities markets’securities available on any exchange or interbankbond market within mainland China; Hong Kong and Macau are not included. Please refer to Appendix II for a list of eligible markets, including those located in mainland China.
- As an equity Sub-Fund registered in Taiwan, the Sub- Fund must invest at least 70% of its Net Asset Value in equity securities.


#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 40% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
In utilising FDI for EPM purposes, the Sub-Fund may gain indirect exposure to financial indices.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. securities lending arrangements and repurchase/reverse repurchase
agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of SFTs shall be 100% of the Net Asset Value of the Sub-
Fund. However, it is not anticipated that the Sub-Fund’s
exposure to the SFTs will exceed 15% of the Net Asset
Value. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1£, 1€ or 1AUD depending on the currency of the relevant class
(plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will
normally be paid on or before 11 February. Further details are set out under the heading “The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Global High Yield Bond Fund

### SUPPLEMENT 5 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- Management fees and other fees and expenses of the Sub-Fund will be charged to the capital of the Sub-Fund to seek to maximise distributions. See “Fees and Expenses” in the Prospectus for further details.An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
Alcentra NY, LLC

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD A (Acc.) | USD | 5,000 | 5% | 1.25% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 1.25% | 0% |
| USD A (Inc.) (M) | USD | 5,000 | 5% | 1.25% | 0% |
| Euro A | EUR | 5,000 | 5% | 1.25% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 1.25% | 0% |
| Sterling A (Acc.) | GBP | 5,000 | 5% | 1.25% | 0% |
| Sterling A (Inc.) | GBP | 5,000 | 5% | 1.25% | 0% |
| AUD A (Acc.) | AUD | 5,000 | 5% | 1.25% | 0% |
| AUD A (Inc.) (M) | AUD | 5,000 | 5% | 1.25% | 0% |
| CAD A (Acc.) | CAD | 5,000 | 5% | 1.25% | 0% |
| CAD A (Inc.) (M) | CAD | 5,000 | 5% | 1.25% | 0% |
| HKD A (Acc.) | HKD | 50,000 | 5% | 1.25% | 0% |
| HKD A (Inc.) (M) | HKD | 50,000 | 5% | 1.25% | 0% |
| CNH A (Acc.) | CNH | 50,000 | 5% | 1.25% | 0% |
| CNH A (Inc.) (M) | CNH | 50,000 | 5% | 1.25% | 0% |
| SGD A (Acc.) | SGD | 5,000 | 5% | 1.25% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| SGD A (Inc.) (M) | SGD | 5,000 | 5% | 1.25% | 0% |
| Euro H (hedged) | EUR | 5,000 | 5% | 1.25% | 0% |
| Euro H (Inc.) (hedged) | EUR | 5,000 | 5% | 1.25% | 0% |
| Sterling H (Acc.) (hedged) | GBP | 5,000 | 5% | 1.25% | 0% |
| Sterling H (Inc.) (hedged) | GBP | 5,000 | 5% | 1.25% | 0% |
| AUD H (Acc.) (hedged) | AUD | 5,000 | 5% | 1.25% | 0% |
| AUD H (Inc.) (hedged) (M) | AUD | 5,000 | 5% | 1.25% | 0% |
| CAD H (Acc.) (hedged) | CAD | 5,000 | 5% | 1.25% | 0% |
| CAD H (Inc.) (hedged) (M) | CAD | 5,000 | 5% | 1.25% | 0% |
| HKD H (Acc.) (hedged) | HKD | 50,000 | 5% | 1.25% | 0% |
| HKD H (Inc.) (hedged) (M) | HKD | 50,000 | 5% | 1.25% | 0% |
| CNH H (Acc.) (hedged) | CNH | 50,000 | 5% | 1.25% | 0% |
| CNH H (Inc.) (hedged) (M) | CNH | 50,000 | 5% | 1.25% | 0% |
| SGD H (Acc.) (hedged) | SGD | 5,000 | 5% | 1.25% | 0% |
| SGD H (Inc.) (hedged) | SGD | 5,000 | 5% | 1.25% | 0% |
| SGD H (Inc.) (hedged) (M) | SGD | 5,000 | 5% | 1.25% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 1.00% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 1.00% | 0% |
| Euro G (Acc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Acc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD C | USD | 5,000,000 | 5% | 1.00% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 1.00% | 0% |
| Euro C | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Inc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Acc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Sterling I (Acc.) (hedged) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Sterling I (Inc.) (hedged) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| SGD I (Acc.) (hedged) | SGD | 5,000,000 | 5% | 1.00% | 0% |
| SGD I (Inc.) (hedged) | SGD | 5,000,000 | 5% | 1.00% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.50% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.50% | 0% |
| Euro W (Acc.) | EUR | 15,000,000 | 5% | 0.50% | 0% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.50% | 0% |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.50% | 0% |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.50% | 0% |
| HKD W (Inc.) (M) | HKD | 150,000,000 | 5% | 0.50% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.50% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.50% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.50% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.50% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.50% | 0% |
| AUD W (Inc.) (hedged) (M) | AUD | 15,000,000 | 5% | 0.50% | 0% |
| CAD W (Inc.) (hedged) (M) | CAD | 15,000,000 | 5% | 0.50% | 0% |
| CNH W (Inc.) (hedged) (M) | CNH | 150,000,000 | 5% | 0.50% | 0% |
| SGD W (Acc.) (hedged) | SGD | 15,000,000 | 5% | 0.50% | 0% |
| SGD W (Inc.) (hedged) | SGD | 15,000,000 | 5% | 0.50% | 0% |

| “X” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Acc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) (hedged) | EUR | None | 0% | 0% | 0% |
| JPY X (Inc.) (hedged) | JPY | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The investment objective of the Sub-Fund is to achieve a total return comprised of income and long term capital
growth through investment primarily (meaning at least 80% of the Sub-Fund’s assets) in a broadly diversified portfolio of high yield bonds and in derivatives.

##### Investment Policy
The Sub-Fund will invest primarily (meaning at least 80% of its Net Asset Value) in a broadly diversified portfolio of high yield bonds issued by companies located worldwide and related FDI, which offer relatively attractive risk adjusted yields. Investments in securities or related FDI
which are not considered high yield are limited to 20% of the Sub-Fund’s Net Asset Value.
The fixed or floating rate debt and debt-related securities in which the Sub-Fund may invest, include but are not limited to the following:
- 30% or more of Net Asset Value in each of the following: Corporate Bonds which may be issued as private placements (such as Reg S bonds and 144A Bonds), and will include Corporate Hybrid Bonds,Bullet Bonds, Callable Bonds, Puttable Bonds and Floating Rate Notes (FRN). Reg S bonds and Rule 144A bonds are bonds from publicly-traded companies of which investment is restricted to specified investors, namely, they may be sold inside the U.S. to U.S. investors or outside the U.S. to foreign investors which are eligible for a SEC exemption from registration. For the avoidance of doubt, the Rule 144A bonds and Reg S bonds selected for investment by the Sub-Fund will primarily be listed or traded on Eligible Markets (a list of which is set out in Appendix II of the Prospectus) and are expected to be liquid;
- up to 30% of Net Asset Value in each of the following: Eurobonds, Zero-Coupon Bonds, bonds issued by state bodies or government agencies (such as U.S. Treasuries and Municipal Bonds), Agency Bonds (such as mortgage-backed securities issued by a government agency), Perpetual Bonds and Exchange Traded Notes (ETNs);
- up to 25% of its Net Asset Value in Convertible Bonds (including Mandatory Convertible Bonds);
- up to 20% of its Net Asset Value in money market instruments (such as bankers acceptances, commercial paper and certificates of deposit);
- up to 15% of its Net Asset Value in aggregate in Mortgage-Backed Securities (MBS) (including Collateralised Mortgage Obligations (CMOs)) and Asset-Backed Securities (ABS) (including Collateralised Debt Obligations (CDOs) and Collateralised Loan Obligations (CLOs));
- up to 10% of Net Asset Value in each of the following Payment in Kind Bond, Step-up Bonds, Toggle Bonds, Yankee Bonds, Amortising Debt and Deferrable Interests (i.e., Trust Preferred Securities);
- up to 10% of its Net Asset Value in Loans (including Leveraged Loans, Loan Participations, Loan Assignments, Amortising Loans and Syndicated Loans) which will constitute money market instruments; and
- up to 10% of its Net Asset Value in CoCos. Please see “Contingent Convertible Securities (CoCos) Risk” in the Prospectus for details of the risks associatedwith CoCos.

The Sub-Fund may also invest in debt and debt-related FDI as listed in “Use of FDI” below.
The Sub-Fund may also invest up to 10% of its Net Asset Value in equity and equity-related instruments including common and preference shares, securities convertible into or exchangeable for such equities (i.e., convertible preference shares), warrants, open-ended CIS (including
exchange traded funds (“ETFs”)), Real Estate Investment Trusts (REITs) and related FDI (as listed in “Use of FDI” below).
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in open-ended CIS including money market funds and open-ended ETFs.
The Sub-Fund may invest up to 30% of its Net Asset Value in subordinated debt instruments. Such instruments include CoCos, senior non-preferred debts and additional/restricted tier 1 bonds, tier 2 bonds, tier 3 bonds.
- Additional/restricted tier 1 bonds, tier 2 bonds, tier 3 bonds are corporate bonds issued by financial companies such as banks and insurance companies. Additional/restricted tier 1 bonds are the most junior hybrid capital, tier 2 bonds are the second most senior hybrid capital and tier 3 bonds are the most senior hybrid capital a financial company can issue in the bond market.
- Subordinated debt instruments are instruments with loss-absorption features.These instruments may be subject to contingent write-down or contingent conversion to ordinary shares on the occurrence of trigger event(s).

Please see “Subordinated Debt Risk” in the Prospectus for further details of the risks associated with subordinated debt.
The Sub-Fund will invest in high yield bonds which are securities rated below investment grade (BB+ or below or its equivalent, as rated by a Recognised Rating Agency)
or are unrated. No more than 25% of the Sub-Fund’s Net
Asset Value may, at time of purchase, be invested in
securities that are rated below B- (or its equivalent as rated by a Recognised Rating Agency) or are unrated. An unrated bond is that which has not been assessed by a rating agency and received a credit rating. The average
credit rating of the debt securities in the Sub-Fund will be maintained at a minimum of B- (or its equivalent as rated by a Recognised Rating Agency).
With the exception of permitted investment in unlisted securities and open-ended CIS, the Sub-Fund investments shall be listed or traded on Eligible Markets listed in Appendix II of the Prospectus.
The Sub-Fund intends to invest globally (i.e. its investments shall be listed or traded globally on Eligible Markets). In addition, the Sub-Fund may invest up to 30% of its Net Asset Value in securities issued by companies domiciled in emerging market countries (including the
People’s Republic of China (“PRC”)) which are traded on
U.S. or European markets. While the Sub-Fund may have
exposure to Russia, it will not invest in securities traded on Russian markets. For the avoidance of doubt, the Sub- Fund will not gain exposure through debt securities in the
PRC traded in the China interbank bond market (“CIBM”)
via Bond Connect (as further described Appendix VI to the
Prospectus).
Other than as stated above, the Sub-Fund is not subject to any limitation on the portion of its Net Asset Value that may be invested in any one country or geographic region. However the Sub-Fund may at times be concentrated in particular countries or geographic regions, depending on where the Investment Manager sees investment opportunity. For instance, the Sub-Fund may at times invest significantly (i.e. more than 70% of its Net Asset Value) in high yield bonds issued by companies domiciled in the U.S. due to the U.S. often being the domicile of global companies (namely companies with business of a global nature i.e., they have global operations and/or a global customer base) issuing high yield bonds.
Whilst the Sub-Fund’s base currency is USD, it may invest in non-USD denominated assets that will be
hedged back into USD using currency-related FDI. The currency-related FDI which may be used by the Sub-Fund for hedging purposes are further described in the
Prospectus in the section “Financial Derivative Instruments and Techniques”.

##### Benchmark
ICE BofA Developed Markets High Yield Constrained TR Index (hedged to U.S. Dollars) (the “Benchmark”). The Benchmark tracks the performance of below investment
grade corporate debt denominated in U.S. Dollars, Canadian Dollars, Pounds and Euros that are publicly issued in the major U.S. or Eurobond markets. The weighting of index constituents is limited to a maximum 2%. Additional information on the Benchmark can be found here:
https://www.theice.com/market-data/indices/fixed- income-indices
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest
outside the Benchmark subject to the investment objective and policy. While the majority of the Sub-Fund’s holdings are expected to be constituents of, and have
similar weightings to, the Benchmark, the investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.

##### Investment Strategy
The Sub-Fund will invest primarily in a diversified portfolio of high yield bonds and will seek to identify investment opportunities that combine an attractive current return with a strong probability of ultimate return of capital. The Sub-Fund aims to provide income while also protecting against interest rate volatility by maintaining low duration and protecting against capital loss.
The Investment Manager’s process combines both a top down view and bottom-up approach. The process is
predicated on bottom-up fundamental credit research and market analysis with the aim of identifying and exploiting market inefficiencies in leveraged finance markets. The Investment Manager favours sectors with attractive asset valuations, stable competitive environments and high barriers to entry. In addition, the Investment Manager selects issuers it believes to have stable-to-improving credit profiles, strong competitive positions, financial flexibility and whose assets, in their view, are fair-to-cheap in valuation. Valuation is determined through assessment of the asset relative to
other assets in the issuer’s capital structure and relative
to other assets in the sector and market.
This detailed bottom-up, fundamental credit research is enhanced with a top-down overlay which is formed from a number of macro and market specific metrics, including regional economic outlook, sector outlooks, path of interest rates and default outlook.
The Investment Manager’s investment process relies on a blend of qualitative and quantitative due diligence, undertaken by a global team of seasoned, experienced
analysts to identify sources of alpha (excess returns) at sector, issuer and security level. This due diligence
includes assessment of an issuer’s credit characteristics,
management quality, free cash flow, financial flexibility,
market share, revenue growth, margin trends, access to capital, meetings with senior management at an issuer and attendance at industry specific conferences. The
Investment Manager’s analyst team is organised by
industry sector in high yield FRN, high yield fixed and
leveraged loan markets, and has an independent team dedicated to the CLO market.
The Investment Manager has a monthly asset allocation committee, which sets target allocations to each asset class and articulates investment themes. Investment themes for the Sub-Fund are then selected through discussion of themes relevant to specific asset classes e.g., credit status of issuers, supply and demand dynamics and valuations. Macro themes are also considered such as region specific growth, inflation, interest rates and default rate outlook. Asset allocation targets are amended based on these discussions and the individual issuer analysis carried out by the Investment Manager.

##### The Sustainable Finance Disclosure Regulation
The management of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively impacted by
an ESG event or condition (“ESG Event”).
Using both quantitative and qualitative processes, sustainability risk is identified, monitored and managed by the Investment Manager in the following manner:
- Prior to acquiring investments on behalf of a Sub-Fund, the investment universe is screened using the Investment Manager’s sector exclusion policy, whereby potential investments are removed based onthe sector they operate in, for example controversial weapons. In assessing an investment opportunity, the Investment Manager undertakes a holistic fundamental analysis of the credit risk of the issuer. A key component of this analysis is an assessment of any material ESG factors that may adversely impact the creditworthiness of an issuer. The process of integrating ESG factors starts by identifying anissuers’ exposure to material ESG risks, followed byan assessment of the potential financial impact ofthose risks. Finally, the Investment Manager assesses the commitment of the issuer to manage exposure to material ESG risks. Given the markets that the Sub- Fund has exposure to, active corporate engagement is the most important tool and forms the basis of the integration and analysis of ESG factors. The Investment Manager has developed an ESG checklist and sector materiality guide which frame the engagement activities. The integration of ESG risk factors culminates with the assignment of a proprietary ESG rating, which informs the InvestmentManager’s credit opinion and portfolio constructiondecisions.
- During the life of the investment, sustainability risk is monitored through reviewing ESG data published by the issuer (where relevant) and an ongoing focus on active corporate engagement to determine whether the level of sustainability risk has changed since the initial assessment was conducted. The InvestmentManager’s assessment of ESG factors is an importantpart of the daily credit monitoring process, wherebythe Investment Manager assesses all risks and opportunities related to the issuer. The Investment Manager engages with all issuers on ESG matters annually, however, engagement is more frequent where exposure to material ESG risks is higher. In addition, the Investment Manager tracks ESG engagement to capture and measure the effectiveness of engagement activities. Where the sustainability risk associated with a particular investment has increased beyond the ESG risk appetite for the Sub-Fund, the Investment Managerwill consider selling or reducing the Sub-Fund’sexposure to the relevant investment, taking intoaccount the best interests of the Shareholders of the Sub-Fund.

As explained above, the management and assessment of sustainability risks forms an important part of the
Investment Manager’s due diligence process, however,
there may still be a risk that the value of a Sub-Fund
could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of
the principal adverse impact consideration regime in Article 4 SFDR, (the “PAI regime”). The Manager is supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment
decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Swaps | Credit Default Swaps Credit Default Swaps Index/Basket Total Return Swaps (TRS) (including single name, credit, and custom basket) |
| --- | --- |
| Securities with Embedded FDI/Leverage | Convertible Bonds Contingent Convertible Securities (CoCos) Callable and Puttable Bonds Asset-Backed Securities (ABS) (including CLOs) Mortgage-Backed Securities (MBS) Warrants Synthetic ETFs Convertible Preference Shares |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both efficient portfolio management (EPM) and investment purposes. The Sub- Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices used to provide exposure to global fixed income markets in a more cost effective manner than buying the physical securities. | IHS Markit’s North American High Yield CDX Index IHS Markit North American Investment Grade CDX Index IHS Markit iTraxx Europe Index IHS Markit iTraxx Europe Crossover |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. However, as the Sub- Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX–Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where additional information can be found, will be set out in the
Company’s semi-annual and annual accounts.

#### Long and Short Positions
The Sub-Fund may employ synthetic long and synthetic short exposures in each of the asset classes referenced in the Investment Policy to achieve its investment objective. Using the Commitment Approach, the total long exposure through FDI is not expected to exceed 50% of the Net Asset Value of the Sub-Fund and the total short exposure is not expected to exceed 50% of the Net Asset Value of the Sub-Fund. For the avoidance of doubt, the Sub-Fund will not have directionally net short positions at fund-level.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Relative VaR
Relative VaR Limit: Sub-Fund’s portfolio will not exceed twice the VaR on a representative benchmark portfolio (using a 1 Business Day holding period)
Relative VaR Benchmark: ICE BofA Developed Markets High Yield Constrained TR Index (hedged to U.S. Dollars)
Gross leverage is expected to vary between: 100 – 500% of the Net Asset Value. The gross leverage may exceed this target level at times
The Central Bank UCITS Regulations provide that where VaR is used as a risk management approach it can also be supplemented with a leverage calculation using the commitment approach.
Maximum leverage: 50% of the Net Asset Value (Using the commitment approach)
For more information on the Relative Value at Risk
approach, Gross Leverage and the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions
and limits set out in the Central Bank UCITS Regulations. Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in SFTs, i.e. securities lending arrangements and
repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 50% and in respect of SFTs shall be 100%
of the Net Asset Value of the Sub-Fund. However, it is not anticipated that the Sub-Fund’s exposure in respect of TRS will exceed 10% and in respect of SFTs will
exceed 15% of the Net Asset Value of the Sub-Fund. The types of assets that will be subject to TRS and SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Registration in Hong Kong
This Sub-Fund is registered for sale in Hong Kong.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1€, 1£, 1CHF, 1AUD, 1CAD, 10HKD, 10CNH, 1SGD or 100¥
depending on the currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) share classes with the suffix “(M)”, dividends will normally be declared monthly on the last Business Day of the month. For
holders of income generating monthly distributing Shares, the declared dividends will normally be paid on or before the 20
th 
calendar day of the following month. In the case of all other income generating (Inc.) share classes and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of these income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11 November respectively. Further details are set out under the heading "The Company - Distribution
Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus, in particular, the “Concentration Risk” as the Sub-Fund may be concentrated in high yield bonds issued by companies domiciled in the U.S, the “Subordinated Debt Risk” and “Contingent Convertible Securities (CoCos) Risk” relating to subordinated debt instruments, as well as the
additional risks specific to the Sub-Fund below.

#### Interest rate and inflation risk
Investment in the Sub-Fund is subject to interest rate and inflation risk. In general, the prices of debt securities rise when interest rates fall, whilst their prices fall when interest rates rise. The value of the Sub-Fund may be affected by substantial adverse movements in interest rates and inflation.

#### Risks associated with Rule 144A / Reg S bonds
The Sub-Fund may invest in Rule 144A bonds and Reg S bonds, which are generally referred to as “restricted securities” that may be subject to limitation on resale or transfer. For instance, Rule 144A bonds are privately
offered bonds that can be resold only to certain qualified institutional buyers, and Reg S bonds are sold to persons or entities located outside the U.S. without registering those securities with the SEC and may only be resold into the U.S. in limited circumstances. As such, Rule 144A bonds and Reg S bonds may be subject to a higher price volatility and lower asset liquidity in comparison to certain other types of debt securities, and it may be relatively more difficult to dispose of such investments within the desired time limit. To reduce the risks associated with such instruments, the Rule 144A bonds and Reg S bonds selected for investment by the Sub- Fund will primarily be listed or traded on Eligible Markets (a list of which is set out in Appendix II of this Prospectus) and are expected to be liquid.

## BNY Mellon Global Opportunities Fund

### SUPPLEMENT 6 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
Newton Investment Management Limited

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro A | EUR | 5,000 | 5% | 2.00% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 2.00% | 0% |
| USD A | USD | 5,000 | 5% | 2.00% | 0% |
| AUD A (Acc.) | AUD | 5,000 | 5% | 2.00% | 0% |
| CAD A (Acc.) | CAD | 5,000 | 5% | 2.00% | 0% |
| HKD A (Acc.) | HKD | 50,000 | 5% | 2.00% | 0% |
| CNH A (Acc.) | CNH | 50,000 | 5% | 2.00% | 0% |
| SGD A (Acc.) | SGD | 5,000 | 5% | 2.00% | 0% |
| Euro H (hedged) | EUR | 5,000 | 5% | 2.00% | 0% |
| AUD H (Acc.) (hedged) | AUD | 5,000 | 5% | 2.00% | 0% |
| CAD H (Acc.) (hedged) | CAD | 5,000 | 5% | 2.00% | 0% |
| CNH H (Acc.) (hedged) | CNH | 50,000 | 5% | 2.00% | 0% |
| SGD H (Acc.) (hedged) | SGD | 5,000 | 5% | 2.00% | 0% |

| “B” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD B | USD | 10,000 | 5% | 1.50% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 1.00% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 1.00% | 0% |
| Euro G (Acc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Acc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro C | EUR | 5,000,000 | 5% | 1.00% | 0% |
| USD C | USD | 5,000,000 | 5% | 1.00% | 0% |
| SGD I (Acc.) (hedged) | SGD | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Acc.) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.75% | 0% |
| HKD W (Acc.) | HKD | 150,000,000 | 5% | 0.75% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| SGD W (Inc.) (hedged) | SGD | 15,000,000 | 5% | 0.75% | 0% |
| AUD W (Acc.) (hedged) | AUD | 15,000,000 | 5% | 0.75% | 0% |
| CAD W (Acc.) (hedged) | CAD | 15,000,000 | 5% | 0.75% | 0% |
| CNH W (Inc.) (hedged) | CNH | 150,000,000 | 5% | 0.75% | 0% |

| “X” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro X | EUR | None | 0% | 0% | 0% |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to achieve long term capital growth
through investment primarily, (meaning at least two- thirds of the Sub-Fund’s assets) in a portfolio of equity and equity-related securities of companies located
worldwide, the majority of which shall be listed or traded on Eligible Markets located worldwide.
The Sub-Fund has no restrictions (save as set out in the Prospectus under the heading “The Company - Investment and Borrowing Restrictions”) as to the proportion allocated to any particular geographical area,
sector or type of security.

##### Investment Policy
The Sub-Fund will invest primarily, meaning at least two- thirds of the Sub-Fund’s Net Asset Value, in a portfolio of equity and equity-related securities (including convertible
bonds (usually unrated), convertible preference shares and warrants (subject to a 10% limit of Net Asset Value of the Sub-Fund in the case of warrants)) of companies located worldwide which are listed or traded on Eligible Markets.
Up to one-third of the Sub-Fund’s Net Asset Value may be invested in international sovereign, government, supranational agency, corporate, bank and other bonds
(including mortgage and corporate bonds) and other debt and debt-related securities (such as debentures, notes (including corporate, sovereign, floating and fixed rate notes with a minimum term of one year or more) or asset and mortgage-backed securities, certificates of deposit, commercial paper and American and/or Global Depositary Receipts) listed or traded on Eligible Markets located worldwide.
The minimum credit rating of the debt and debt-related securities in which the Sub-Fund may invest at time of purchase is BBB- (or its equivalent), as rated by a Recognised Rating Agency. In the case of a split rating, the highest rating will be considered. If an instrument is unrated, it must be of equivalent quality as determined by the Investment Manager.
The Sub-Fund invests on a global basis and while its investments are not required to be confined or concentrated in any particular geographic region or market, the Sub-Fund may have significant exposure to certain markets including the U.S. The global nature of the Sub-Fund means an investment in the Sub-Fund may involve certain additional risks due to the volatility of its short-term performance.
Methods of gaining exposure to Chinese securities may include purchasing China A-shares via the Stock Connect. The Sub-Fund may invest up to 10% of its Net Asset Value in China A-shares via the Stock Connect. Further details about the Stock Connect are set out in Appendix V to the Prospectus.
In addition, the Sub-Fund will not invest more than 10% of its Net Asset Value in aggregate in collective
investment schemes (“CIS”).

##### Benchmark
MSCI AC World NR Index (the “Benchmark”).
The Benchmark is a comprehensive indicator of the performance of the global equity market, capturing large and mid-cap representation across developed and emerging markets countries. With over 2,000 constituents, it covers approximately 85% of the global investable equity opportunity set. The Benchmark implements a comprehensive and consistent approach to index construction that allows for meaningful global views and cross regional comparisons across all market capitalization size, sector and style segments and combinations. This methodology aims to provide exhaustive coverage of the opportunity set with a strong emphasis on index liquidity, investability and replicability. The Benchmark is reviewed quarterly to reflect changes in the underlying equity markets, while limiting undue index turnover.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest
outside the Benchmark subject to the investment objective and policy. While the Sub-Fund’s holdings may include constituents of the Benchmark, the selection of
investments and their weightings in the portfolio are not influenced by the Benchmark. The investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.

##### Investment Strategy
The investment philosophy is based upon the conviction of the Investment Manager that no company, market or economy can be considered in isolation; each must be understood in a global context. The Investment Manager believes that events occurring around the world influence all financial markets and that successful investment in global equities requires therefore a thorough understanding of the world as a whole.
The Investment Manager identifies themes which encompass the major areas of change in the world and use these themes as the basis of our investment ideas. This global, thematic approach allows the Investment Manager to gain long-term perspective on global financial
markets and economies and always to consider the ‘big picture’. Perspective is a defining feature of their investment process; it helps them to anticipate how the
world will change and it directs analysts and portfolio managers towards profitable opportunities.
The global opportunities portfolios are constructed holistically and follow an unconstrained investment approach, with no regional, sector or comparative index constraints. The Investment Manager does not follow value or growth investment styles; instead, they concentrate on investing in attractively valued stocks of companies with good prospects and strong fundamentals.
On average, each holding in a global opportunities portfolio forms about 2% to 3% of the portfolio’s total value meaning that the Investment Manager has high-
conviction ideas in portfolios.

##### The Sustainable Finance Disclosure Regulation
The consideration of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively impacted by
an ESG event or condition (“ESG Event”).
The Investment Manager has access to a variety of ESG- related data points provided by third party data which assists with the identification of potential ESG-related issues that an issuer may be facing. This includes but is not limited to exposure to activities that may be deemed
harmful to the environment or society. This data, along with data from the Investment Manager’s own proprietary responsible investment research resources, forms a central part of the Investment Manager’s consideration and assessment of the level of sustainability risk that an
investment may be subject to.
This assessment is integrated in to the security level research process, which is based upon fundamental analysis of individual investment opportunities across a number of different factors including:
- Fundamental financial or economic characteristics
- Valuation
- Risk/reward profile
- The ESG characteristics of the issuer, including understanding how such considerations can impact economic returnsThe information gathered from the fundamental analysis conducted will be taken into account by the Investment Manager in deciding whether to acquire a holding in an issuer or continue to hold a position.

As explained above, the assessment and management of sustainability risks forms an important part of the
Investment Manager’s due diligence process, however,
there may still be a risk that the value of the Sub-Fund
could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Registration in Germany
This Sub-Fund is registered for sale in Germany. The Sub- Fund is classified as an Equity Fund for German tax purposes and as such it will permanently invest more than 50% of its assets in equities as defined in article 2 paragraph 8 of the German Investment Tax Act.

#### Registration in Hong Kong
This Sub-Fund is registered for sale in Hong Kong.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 50% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
In utilising FDI for EPM purposes, the Sub-Fund may gain indirect exposure to financial indices.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. securities lending
arrangements and repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of SFTs shall be 100% of the Net Asset Value of the Sub-
Fund. However, it is not anticipated that the Sub-Fund’s
exposure to the SFTs will exceed 15% of the Net Asset
Value. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1£, 1€, 1CAD, 1AUD, 1SGD, 10HKD or 10CNH depending on the
currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February. Further details
are set out under the heading “The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Pan European Equity Fund

### SUPPLEMENT 7 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
This Sub-Fund was closed by way of compulsory redemption whereby all of the Shares in issue in the Sub-Fund as of 09 March, 2017 were compulsorily redeemed. Shares in the Sub-Fund are no longer available for investment. The Company intends to apply
to the Central Bank to revoke the Sub-Fund’s approval
following the preparation of the audited financial
statements for the year ended 31 December, 2017. The Company shall seek approval from the Central Bank to remove the Sub-Fund from this Prospectus following approval of that revocation.
This Supplement contains specific information in relation to the BNY Mellon Pan European Equity Fund (the “Sub- Fund”), a sub-fund of BNY Mellon Global Funds, plc (the “Company”) an open-ended umbrella type investment company established as a UCITS pursuant to the UCITS
Regulations. There exists segregated liability between the Sub-Funds of the Company.
This Supplement forms part of and should be read in conjunction with the general description of:
- its Share Classes
- its Investment and Borrowing Restrictions
- its Distribution Policy
- its Method of Calculating the Net Asset Value
- the Company, its Management and Administration
- the Company's Fees and Expenses
- its Risk Factors
- the Taxation of the Company and of its Shareholderswhich are contained in the Prospectus dated 3 May, 2022 for the Company and which has been delivered along with this Supplement. If you have not received the Prospectus please contact the Administrator.

Investors' attention is particularly drawn to the section entitled “Risk Factors” in the Prospectus.
The Directors whose names appear in the Prospectus under the heading “Management and Administration of the Company”, accept responsibility for the information contained in this Supplement and in the Prospectus. To
the best of the knowledge and belief of the Directors (who have taken all reasonable care to ensure that such is the case) such information is in accordance with the facts and does not omit anything likely to affect the import of such information. The Directors accept responsibility accordingly.

#### The Investment Manager
The Manager has appointed Newton Investment Management Limited (the "Investment Manager") to manage the investment and re-investment of the assets of the Sub-Fund.
A description of the Investment Manager can be found under the heading “Management and Administration of the Company” in the Prospectus.

#### Base Currency
Euro

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has an investment horizon of 5 years or more and is prepared to accept a moderate level of volatility.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the Share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors to which each class of Shares may be offered are set out
under the heading “The Company - Structure” in the
Prospectus.
| “Euro A” Shares and “USD A” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| Euro A | EUR | up to 5% | EUR 5,000 | 2.00% | None |
| USD A | USD | up to 5% | USD 5,000 | 2.00% | None |

| “Euro B” Shares, “Sterling B (Acc.)” Shares, “Sterling B (Inc.)” Shares and “USD B (Acc.)” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| Euro B | EUR | up to 5% | EUR 10,000 | 1.50% | None |
| Sterling B (Acc.) | GBP | up to 5% | GBP 1,000 | 1.50% | None |
| Sterling B (Inc.) | GBP | up to 5% | GBP 1,000 | 1.50% | None |
| USD B (Acc.) | USD | up to 5% | USD 10,000 | 1.50% | None |

| “Euro C” Shares and “USD C” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| Euro C | EUR | up to 5% | EUR 5,000,000 | 1.00% | None |
| USD C | USD | up to 5% | USD 5,000,000 | 1.00% | None |

| “Euro X (Acc.)” Shares and “USD X (Acc.)” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| Euro X (Acc.) | EUR | None | None | None | None |
| USD X (Acc.) | USD | None | None | None | None |

| “Sterling W (Acc.)” Shares, “Euro W (Acc.)” Shares and “USD W (Acc.)” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| Sterling W (Acc.) | GBP | up to 5% | GBP 15,000,000 | 0.75% | None |
| Euro W (Acc.) | EUR | up to 5% | EUR 15,000,000 | 0.75% | None |
| USD W (Acc.) | USD | up to 5% | USD 15,000,000 | 0.75% | None |


#### Investment Objectives and Policies

##### Investment Objective
The Sub-Fund aims to achieve long term capital growth through investment primarily (meaning at least two-thirds
of the Sub-Fund’s assets) in a portfolio of equity and up to one-third of the Sub-Fund’s assets in a portfolio of equity-related securities of companies located or listed in
Europe (including the United Kingdom) or deriving a preponderant part of their income in Europe (including the United Kingdom).

##### Investment Policy
The Sub-Fund will invest primarily, meaning at least two- thirds of the Sub-Fund’s assets, in a portfolio of equity and up to one-third of the Sub-Fund’s assets in a portfolio of equity-related securities including convertible
bonds (usually unrated), convertible preference shares and warrants (subject to a 10% limit of the Net Asset Value of the Sub-Fund in the case of warrants) of companies located in Europe (including the United Kingdom) or deriving a preponderant part of their income in Europe (including the United Kingdom).
Up to one-third of the Sub-Fund’s assets may be invested in equity and equity-related securities of companies
neither located in Europe or the United Kingdom nor deriving a preponderant part of their income therefrom. Investment may be made in both developed and emerging European regions.
The majority of the Sub-Fund’s investments shall be listed or traded on Eligible Markets located in Europe (including the United Kingdom).
The Sub-Fund may engage in transactions in FDI for efficient portfolio management purposes (as described
under the heading “Efficient Portfolio Management”
below) or for hedging purposes. A list of the Eligible
Markets on which the FDI may be quoted or traded is set out in Appendix II of the Prospectus. The Sub-Fund may also engage in over the counter derivative transactions as
outlined below under the heading “Efficient Portfolio Management”.

##### Investment Strategy
The investment philosophy is based upon the conviction of the Investment Manager that no company, market or economy can be considered in isolation; each must be understood in a global context. The Investment Manager believes that events occurring around the world influence all financial markets and that successful investment in Pan-European equities requires therefore a thorough understanding of the world as a whole.
The Investment Manager identifies themes which encompass the major areas of change in the world and use these themes as the basis of their investment ideas. This global, thematic approach allows the Investment
Manager to gain long-term perspective on global financial markets and economies and always to consider the ‘big picture’. Perspective is a defining feature of their
investment process; it helps them to anticipate how the world will change and it directs analysts and portfolio managers towards profitable opportunities.
The Pan-European equity portfolios are constructed holistically using our research-driven/’bottom-up’ investment process. The Investment Manager does not
follow either a value or growth investment style exclusively; instead, they concentrate on investing in attractively valued stocks of companies with good prospects and strong fundamentals.

#### Issue of Shares
The initial offering (the “Initial Offer Period”) for all launched Share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched Share classes shall
continue until 17 May, 2018 or such earlier or later date on which the first Shares of the relevant Share class are issued, at which point the Initial Offer Period of such Share class shall automatically end. Details of the launched Share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in unlaunched Share classes will be issued during
their respective Initial Offer Periods at their respective initial offer price per Share of 1$, 1£, 1€, 1CHF or 100 ¥ depending on the currency of the relevant class (plus the
sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Repurchase of Shares
Shares in each class may be repurchased, at the option of the relevant Shareholder, on any Valuation Day at the Valuation Point. The Repurchase Price is the Net Asset Value per Share of that class calculated as at the Valuation Point less the applicable redemption fee.
All requests for the repurchase of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Investment and Borrowing Restrictions
The Sub-Fund’s investment and borrowing restrictions are as set out under the heading “The Company - Investment and Borrowing Restrictions” in the Prospectus.
In addition, the total net value of long positions in derivatives held shall not exceed 15% of the net asset value of the Sub-Fund.
In addition, the Sub-Fund will not invest more than 10% of its net assets in aggregate in collective investment schemes.

#### Global Exposure and Leverage
The Sub-Fund will use the commitment approach methodology to accurately measure, monitor and manage
the “leverage” effect produced by the use of derivatives.
The commitment approach is calculated by converting the derivative position into the equivalent position in the underlying asset, based on the market value of the underlying asset or the market value of the contract and allowing for any netting and hedging arrangements, as described in the Risk Management Process.
Using the commitment approach, the Sub-Fund will not be leveraged in excess of 100% of its net assets as a result of the use of derivatives.
The Sub-Fund’s global exposure must not exceed its total net asset value.

#### Efficient Portfolio Management
The Sub-Fund may utilise techniques and FDI for efficient portfolio management purposes. The Sub-Fund may utilise the following techniques and instruments for efficient portfolio management purposes: futures, options, swaps, warrants, forward currency contracts and when issued and/or delayed delivery securities.
A description of the techniques and instruments which
the Sub-Fund may use for efficient portfolio management purposes are set out under the heading “The Company – Efficient Portfolio Management” in the Prospectus.
The Sub-Fund may also utilise stocklending arrangements and repurchase/reverse repurchase agreements for efficient portfolio management purposes only, subject to the conditions and limits set out in the Central Bank UCITS Regulations 2015.
A stocklending agreement is an agreement under which title to the “loaned” securities is transferred by a “lender” to a “borrower” with the borrower contracting to deliver “equivalent securities” to the lender at a later date.
Repurchase agreements are transactions in which one party sells a security to the other party with a simultaneous agreement to repurchase the security at a fixed future date at a stipulated price reflecting a market rate of interest unrelated to the coupon rate of the securities. A reverse repurchase agreement is a transaction whereby the Sub-Fund purchases securities from a counterparty and simultaneously commits to resell the securities to the counterparty at an agreed upon date and price. For example, the Investment Manager may enter into repurchase agreements to enhance income earned in the Sub-Fund, or to manage interest exposure of fixed rate bonds more precisely than via the use of interest rate futures.
Efficient portfolio management transactions relating to the assets of the Sub-Fund may be entered into with one of the following aims:
- a reduction of risk;
- a reduction of cost; or
- the generation of additional capital or income for the Sub-Fund with a level of risk (relative to the expected return) consistent with the risk profile of the Sub- Fund and the risk diversification requirements in accordance with the Central Bank UCITS Regulations2015 and the Central Bank’s Guidance on “UCITSEligible Assets” and as set out under the heading “The Company - Investment and Borrowing Restrictions” in the Prospectus.

In relation to efficient portfolio management operations the Investment Manager will look to ensure that the transaction is economically appropriate and realised in a cost-effective manner.
Transaction costs may be incurred in respect of efficient portfolio management techniques in respect of the Sub- Fund. All revenues from efficient portfolio management techniques, net of direct and indirect operational costs, will be returned to the Sub-Fund. Any direct and indirect operational costs/fees arising from efficient portfolio management techniques do not include hidden revenue and will be paid to such entities as outlined in the annual report of the Company, which shall indicate if the entities are related to the Manager or the Depositary.
Investors should consult the sections of the Prospectus entitled “Risk Factors- Counterparty Risk”, “Risk Factors- Derivatives and Techniques and Instruments Risk” and “Conflicts of Interest” for more information on the risks associated with efficient portfolio management.
The Sub-Fund may enter into cross currency transactions for Efficient Portfolio Management purposes.
Information on the collateral management policy for the Sub-Fund is set out under the heading “Collateral Management Policy” in the Prospectus.

##### Risk Management Process
The Company will employ a Risk Management Process which will enable it to accurately measure, monitor and manage the risks attached to financial derivative positions and details of this process have been provided to the Central Bank. The Company will not utilise FDI which have not been included in the Risk Management Process until such time as such instruments are disclosed in a revised Risk Management Process that has been submitted to and cleared in advance by the Central Bank.
The Company will provide on request to Shareholders supplementary information relating to the risk management methods employed by the Company including the quantitative limits that are applied and any recent developments in the risk and yield characteristics of the main categories of investments.

#### Securities Financing Transactions
The Sub-Fund may engage in securities financing transactions (“SFTs”), i.e. stocklending arrangements and repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management”.
The maximum exposure of the Sub-Fund in respect of SFTs shall be 100% of the Net Asset Value of the Sub-
Fund. However, it is not anticipated that the Sub-Fund’s
exposure to the SFTs will exceed 15% of the Net Asset
Value. The types of assets that will be subject to stocklending arrangements and repurchase/reverse repurchase agreements respectively will be assets which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”,
“Appendix III - Management of Collateral”, “Appendix III -
Use of Repurchase/Reverse Repurchase and Stocklending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Share Class Hedging
For the purpose of Share class hedging, the Sub-Fund
will engage in foreign exchange hedging transactions in respect of all Shares with the suffix “(hedged”). In relation to Share class hedging, only the currency exposure
between the denominated currency of the relevant hedged Share class and the base currency of the Sub- Fund will be hedged. Over-hedged or under-hedged positions may arise due to factors outside of the control of the Sub-Fund. Such over-hedged positions will not be permitted to exceed 105% of the Net Asset Value of the class. Hedged positions will be kept under review with the aim of ensuring that over-hedged positions do not exceed the permitted level and that positions materially in excess of 100% will not be carried forward to the next month. Investors should be aware that this strategy may substantially limit Shareholders of these Shares from benefiting if the designated currency of the class falls against the base currency of the Sub-Fund and the currencies in which the assets of the Sub-Fund are denominated. In such circumstances, Shareholders of these Shares may be exposed to fluctuations in the Net Asset Value per Share reflecting the gains/losses on and the costs of the relevant financial instruments. The gains/losses and the costs of the relevant financial instruments will accrue solely to the relevant Shares. Any currency exposure of these Share classes relating to foreign exchange hedging transactions may not be combined with or offset against that of any other class. The currency exposure of the assets attributable to these Share classes may not be allocated to other classes. The annual and semi-annual accounts of the Company will indicate how transactions undertaken to provide protection against exchange rate risks have been utilised.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) Share classes, dividends will normally be declared annually on 31 December. Holders of income generating Shares will normally be paid the
dividends declared on or before 11 February. Further details are set out under the heading “The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management fee payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.
Investors' attention is particularly drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon S&P 500® Index Tracker

### SUPPLEMENT 8 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
This Sub-Fund was closed by way of compulsory redemption whereby all of the Shares in issue in the Sub- Fund as of 15 January 2021, were compulsorily redeemed. Shares in the Sub-Fund are no longer available for investment. The Company intends to apply to the Central
Bank to revoke the Sub-Fund’s approval following the
preparation of the audited financial statements for the
year ended 31 December 2021. The Company shall seek approval from the Central Bank to remove the Sub-Fund from this Prospectus following approval of that revocation.
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise financial derivative instruments (“FDI”) for hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- The Sub-Fund’s Net Asset Value may have a high level of volatility due to its investment policy.


#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 22.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| Euro A | EUR | up to 5% | EUR 5,000 | 1.00% | None |
| USD A | USD | up to 5% | USD 5,000 | 1.00% | None |

| “C” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| Euro C | EUR | up to 5% | EUR 5,000,000 | 0.30% | None |
| USD C | USD | up to 5% | USD 5,000,000 | 0.30% | None |

| “G” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| USD G (Acc.) | USD | up to 5% | USD 5,000 | 0.30% | None |
| Euro G (Acc.) | EUR | up to 5% | EUR 5,000 | 0.30% | None |

| “X” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| Euro X (Acc.) | EUR | None | None | None | None |
| USD X (Acc.) | USD | None | None | None | None |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to match the performance of the S&P 500
® 
Index (the “Index”). The Sub-Fund is constructed to mirror the Index and to provide long-term capital growth
by investing in equity securities that represent a large cross-section of the U.S. publicly-traded stock market.

##### Investment Management and Process
Indexing offers a cost-effective, sensible investment approach to gaining diversified U.S. equity market exposure and receiving competitive relative returns over the long-term. However, investors should keep in mind that there is no guarantee or assurance that an index tracking sub-fund will at all times fully replicate the composition or performance of the relevant index. An index sub-fund has operating expenses and costs; a market index (often referred to as a benchmark for tracking purposes) does not. Therefore, an index sub- fund, while expected to track a specific index as closely as possible, typically will not match the performance of the targeted index exactly. Tracking errors can arise from index constituent changes, corporate actions, cashflow management and transaction costs which can be minimised by paying close attention to the changes and actions, using specialised instruments or index futures to manage cashflows and by active management of trading to control costs.
In the likely event that all 500 stocks cannot be purchased, the Sub-Fund will purchase a representative sample of stocks from each economic sector included in the Index in proportion to the weighting in the Index. To the extent that the Sub-Fund seeks to replicate the Index using such sampling techniques, a close correlation
between the Sub-Fund’s performance and the
performance of the Index would be anticipated in both
rising and falling markets. A decline in the Index is likely to result in a corresponding decline in the value of the Sub-Fund.
However it should be noted that the Sub-Fund may not invest more than 10% of its Net Asset Value in transferable securities of any one issuer and if it invests more than 5% of its Net Asset Value in securities of any particular issuer the aggregate value of all holdings of this kind may not exceed 40% of the Net Asset Value of the Sub-Fund. Consequently it would not be possible for movements in the relevant index to be duplicated completely in the Sub-Fund if one or more investments would exceed those limits, as measured by the percentage-weight within the relevant market index.
However, the Sub-Fund may purchase certain types of transferable securities such as bonds and notes which will be listed, traded or dealt in on an Eligible Market and the performance of which will be linked to the performance of equities on the Index. Such bonds and notes will be of investment grade as determined by Standard & Poor's Rating Group. The use of these types
of instruments will result in the Sub-Fund having exposure to the issuer of the relevant instrument while nonetheless maintaining an economic exposure to the underlying equity on the Index greater than the limits provided for in the Investment Restrictions applicable to the Sub-Fund.
It is anticipated that the tracking error of the Index will be within the range of 0.1% to 0.2%. This will be disclosed in the annual and semi-annual accounts of the Company.
The majority of the Sub-Fund’s investments shall be listed or traded on Eligible Markets located in the U.S.
In addition, the Sub-Fund will not invest more than 10% of its Net Asset Value in aggregate in collective investment schemes.

##### Investment Strategy
The Sub-Fund aims to replicate the characteristics and
performance of the S&P500
® 
Index. To replicate index performance, the Sub-Fund’s portfolio managers use a passive management approach and purchase all or a
representative sample of securities comprising the S&P 500
®
. The Sub-Fund may also use stock index futures as a substitute for the sale or purchase of securities. The Sub-Fund generally invests in the stocks within the S&P 500
® 
in proportion to their weighting in the index. In view of the index tracking nature of the Sub-Fund, the Investment Manager will have no discretion to adapt to market changes and dispose of underperforming shares which comprise the Index. The S&P 500
® 
index consists of common stocks chosen to reflect the industries of the
U.S. economy and is often considered a proxy for the U.S. stock market in general. Each company's stock is weighted by the number of available float shares (i.e., those shares available to investors) divided by the total shares outstanding, which means larger companies with more available float shares have greater representation in the index than smaller ones. Companies included in the S&P 500
® 
must meet certain criteria for inclusion within the index which include specified minimum market capitalizations, minimum float requirements, minimum liquidity thresholds and achieve certain financial ratio requirements amongst others. The accuracy of the calculation of the Index may be affected in the event trading in a constituent stock comprising the Index is suspended.

##### Change in the Index
The Sub-Fund is constructed to mirror the S&P 500
® 
Index. The Directors may not change the Index which the Sub-Fund mirrors without the approval of the Shareholders of the Sub-Fund on the basis of the majority votes cast at a general meeting.
In the event that the Index ceases to be available, the Manager will consult with the Investment Manager in order to identify an alternative appropriate index. Once
such an alternative index has been identified, the consent of the Shareholders of the Sub-Fund will be sought for the change of index as mentioned above.

##### About the S&P 500® Index
The Index is composed of 500 common stocks that are selected by Standard & Poor’s to capture the price performance of a large cross-section of the U.S. publicly-
traded stock market. Stocks included in the Index are chosen with the aim of achieving a representative portfolio from the various components of the U.S. economy. A limited percentage of the Index may include non-U.S. securities traded on U.S. exchanges. Aggregate market value and trading activity are also considered in the selection process. While these stocks do not necessarily represent the 500 largest corporations in the United States, the Index is recognized for its emphasis towards large stocks. The 500 securities, most of which trade on the New York Stock Exchange, represent approximately 80% of the market value of all U.S. common stocks. Each stock in the Index is weighted by its market capitalization (its total market value relative to the total market values of all the securities in the Index). The inclusion of a stock in the Index in no way implies
that Standard & Poor’s believes the stock to be an attractive investment, nor is Standard & Poor’s in any
way affiliated with the Sub-Fund, the Manager, or the
Investment Manager. Further details of the Index can be found at www.standardandpoors.com.

##### Financial Indices
Details of any financial indices used by the Sub-Fund will be provided to Shareholders by the Investment Manager of the Sub-Fund on request and will be set out in the
Company’s semi-annual and annual accounts. Any such
indices will be cleared by the Central Bank or will meet
its requirements.
In any event, however, the financial indices to which the Sub-Fund may gain exposure will typically be rebalanced on a monthly, quarterly, semi-annual or annual basis. The costs associated with gaining exposure to a financial index will be impacted by the frequency with which the relevant financial index is rebalanced.
Where the weighting of a particular constituent in the financial index exceeds the UCITS investment
restrictions, the Investment Manager of the Sub-Fund will as a priority objective look to remedy the situation taking into account the interests of Shareholders and the Company.

#### Registration in Germany
This Sub-Fund is registered for sale in Germany. The Sub- Fund is classified as an Equity Fund for German tax purposes and as such it will permanently invest more than 50% of its assets in equities as defined in article 2 paragraph 8 of the German Investment Tax Act.

#### Registration in Hong Kong
This Sub-Fund is registered for sale in Hong Kong. The SFC reserves the right to withdraw authorisation of the Sub-Fund for sale in Hong Kong if the Index is no longer considered acceptable by the SFC.

#### Issue of Shares
The initial offering (the “Initial Offer Period”) for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall
continue until 30 April, 2021 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD or 1€ depending on the currency of the relevant class (plus the
sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Repurchase of Shares
Shares in each class may be repurchased, at the option of the relevant Shareholder, on any Valuation Day at the Valuation Point. The Repurchase Price is the Net Asset Value per Share of that class calculated as at the Valuation Point less the applicable redemption fee.
All requests for the repurchase of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Investment and Borrowing Restrictions
The Sub-Fund’s investment and borrowing restrictions are as set out under the heading “The Company - Investment and Borrowing Restrictions” in the Prospectus.
The investment restrictions set out in paragraphs 4.1 and
4.2 therein will not apply to the Sub-Fund. The remaining investment restrictions set out in the in the Prospectus
under the heading “The Company - Investment and Borrowing Restrictions” will continue to apply to the Sub- Fund.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 50% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and
warrants. The Sub-Fund may also utilise stocklending arrangements and repurchase/reverse repurchase agreements for efficient portfolio management (EPM) purposes, subject to the conditions and limits set out in
the Central Bank UCITS Regulations. Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of
techniques and FDI the Sub-Fund may use for EPM purposes.
The Sub-Fund will not enter into cross currency hedging transactions.

#### Securities Financing Transactions
The Sub-Fund may engage in securities financing transactions (“SFTs”), i.e. stocklending arrangements and repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of
SFTs shall be 100% of the Net Asset Value of the Sub- Fund. However, it is not anticipated that the Sub-Fund’s exposure to the SFTs will exceed 15% of the Net Asset
Value. The types of assets that will be subject to stocklending arrangements and repurchase/reverse repurchase agreements respectively will be assets which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Stocklending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Distribution Policy
In the case of the accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. Further details are set out under the heading
“The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management fee payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.
The BNY Mellon S&P 500
® 
Index Tracker (the “Sub-Fund”) is not sponsored, endorsed, sold or promoted by Standard & Poor's, a division of The McGraw-Hill
Companies, Inc. (“S&P”). S&P make no representation or
warranty, express or implied, to the shareholders of BNY Mellon Global Funds, plc (the “Company”) or to any member of the public regarding the advisability of
investing in securities generally or in the Sub-Fund particularly or the ability of the S&P 500
® 
Index to track general stock market performance. S&P's only relationship to the Company is the licensing of certain trademarks and trade names of S&P and of the S&P 500
®
Index which is determined, composed and calculated by S&P without regard to the Company or the Sub-Fund.
S&P has no obligation to take the needs of the Company or the shareholders of the Sub-Fund into consideration in determining, composing or calculating the S&P 500
® 
Index. S&P is not responsible for and has not participated in the determination of the prices and amount of the Sub-Fund or the timing of the issuance or sale of the Sub-Fund or in the determination or calculation of the equation by which the Sub-Fund is to be converted into cash. S&P has no obligation or liability in connection with the administration, marketing or trading of the Sub-Fund.
S&P DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE S&P 500
® 
INDEX OR ANY DATA INCLUDED THEREIN AND S&P SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN. S&P MAKES NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY THE COMPANY, THE SHAREHOLDERS OF THE SUB-FUND OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE S&P 500
® 
INDEX OR ANY DATA INCLUDED THEREIN. S&P MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE S&P 500
® 
INDEX OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL S&P HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

#### Cluster Munitions
This Sub-Fund is not included within the Company’s policy to not invest in corporates involved in cluster munitions and anti-personnel mines.

## BNY Mellon U.S. Dynamic Value Fund

### SUPPLEMENT 9 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
This Sub-Fund was closed by way of compulsory redemption whereby all of the Shares in issue in the Sub- Fund as of 5 March 2021, were compulsorily redeemed.
Shares in the Sub-Fund are no longer available for investment. The Company intends to apply to the Central
Bank to revoke the Sub-Fund’s approval following the
preparation of the audited financial statements for the
year ended 31 December 2021. The Company shall seek approval from the Central Bank to remove the Sub-Fund from this Prospectus following approval of that revocation.
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise financial derivative instruments (“FDI”) for hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- The Sub-Fund’s Net Asset Value may have a high level of volatility due to its investment policy.


#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” and “H (hedged)” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| Euro A | EUR | up to 5% | EUR 5,000 | 2.00% | None |
| Euro A (Inc.) | EUR | up to 5% | EUR 5,000 | 2.00% | None |
| USD A | USD | up to 5% | USD 5,000 | 2.00% | None |
| Sterling A (Acc.) | GBP | up to 5% | GBP 5,000 | 2.00% | None |
| Euro H (Acc.) (hedged) | EUR | up to 5% | EUR 5,000 | 2.00% | None |
| Euro H (Inc.) (hedged) | EUR | up to 5% | EUR 5,000 | 2.00% | None |

| “B” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| USD B | USD | up to 5% | USD 10,000 | 1.50% | None |

| “C” and “I (hedged)” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| Euro C | EUR | up to 5% | EUR 5,000,000 | 1.00% | None |
| Euro C (Inc.) | EUR | up to 5% | EUR 5,000,000 | 1.00% | None |
| USD C | USD | up to 5% | USD 5,000,000 | 1.00% | None |
| Sterling C (Inc.) | GBP | up to 5% | GBP 5,000,000 | 1.00% | None |
| Sterling C (Acc.) | GBP | up to 5% | GBP 5,000,000 | 1.00% | None |
| Euro I (Acc.) (hedged) | EUR | up to 5% | EUR 5,000,000 | 1.00% | None |
| Euro I (Inc.) (hedged) | EUR | up to 5% | EUR 5,000,000 | 1.00% | None |

| “G” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| USD G (Acc.) | USD | up to 5% | USD 5,000 | 1.00% | None |
| USD G (Inc.) | USD | up to 5% | USD 5,000 | 1.00% | None |
| Euro G (Acc.) | EUR | up to 5% | EUR 5,000 | 1.00% | None |
| Euro G (Inc.) | EUR | up to 5% | EUR 5,000 | 1.00% | None |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| Euro W (Acc.) | EUR | up to 5% | EUR 15,000,000 | 0.75% | None |
| Euro W (Inc.) | EUR | up to 5% | EUR 15,000,000 | 0.75% | None |
| Euro W (Acc.) (hedged) | EUR | up to 5% | EUR 15,000,000 | 0.75% | None |
| Euro W (Inc.) (hedged) | EUR | up to 5% | EUR 15,000,000 | 0.75% | None |
| USD W (Acc.) | USD | up to 5% | USD 15,000,000 | 0.75% | None |
| Sterling W (Acc.) | GBP | up to 5% | GBP 15,000,000 | 0.75% | None |

| “X” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| Euro X (Acc.) | EUR | None | None | None | None |
| Euro X (Inc.) | EUR | None | None | None | None |
| USD X (Acc.) | USD | None | None | None | None |
| USD X (Inc.) | USD | None | None | None | None |
| Euro X (Acc.) (hedged) | EUR | None | None | None | None |
| Euro X (Inc.) (hedged) | EUR | None | None | None | None |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to achieve long term capital growth
through investment primarily (meaning at least two-thirds of the Sub-Fund’s assets) in a portfolio of equity and equity-related securities of companies with a market
capitalisation of U.S. $1 billion or above at the time of investment, having their registered office in the U.S. or carrying out a preponderant part of their economic activities in the U.S.

##### Investment Policy
The Sub-Fund will invest primarily, meaning at least two- thirds of the Sub-Fund’s Net Asset Value, in a portfolio of equity and equity-related securities including convertible
bonds, (usually unrated) convertible preference shares and warrants (subject to a 10% limit of Net Asset Value of the Sub-Fund in the case of warrants) of companies with a market capitalisation of U.S.$1 billion or above at the time of investment, having their registered office in the U.S. or carrying out a preponderant part of their economic activities in the U.S.
The Sub-Fund may also invest in American Depositary Receipts and/or Global Depositary Receipts listed or traded on Eligible Markets in the U.S.
The Sub-Fund may invest up to one-third of its Net Asset Value in equity or equity-related securities of companies located in the U.S. of any size or in equity or equity- related securities of companies which neither have their registered office in the U.S. nor carry out a preponderant part of their economic activities in the U.S. The Sub-Fund will not invest in emerging market regions.
The majority of the Sub-Fund’s investments shall be listed or traded on Eligible Markets in the U.S. The remainder of the Sub-Fund’s listed assets shall be listed or traded on Eligible Markets located outside the U.S.
The Investment Manager shall not be required to realise any assets of the Sub-Fund (unless such realisation is deemed by the Investment Manager to be in the interests of the Shareholders) where the investment policy is inadvertently breached as a result of the decline in size of the relevant issuer.
In addition, the Sub-Fund will not invest more than 10% of its Net Asset Value in aggregate in collective investment schemes.

##### Benchmark
Russell 1000 Value TR Index (the “Benchmark”).
The Benchmark is an unmanaged market capitalization- weighted index of value-oriented stocks of the largest
U.S. domiciled companies that are included in the Russell 1000 Index.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest
outside the Benchmark subject to the investment objective and policy. While the majority of the Sub-Fund’s holdings are expected to be constituents of, and have
similar weightings to, the Benchmark, the investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.

##### Investment Strategy
The Investment Manager will pursue a dynamic equity portfolio strategy which includes the following features:
- The ability to principally invest in stocks capitalised at U.S.$1 billion or above at the time of investment;
- Willingness to build concentrated sector and industry weights; and
- Emphasis upon alpha generation with less emphasis on tracking error.

The Investment Manager believes successful investing is achieved through a philosophy that is value-oriented, research-driven and risk-controlled:
Value-Oriented
- Focus on equity securities with attractive valuations relative to the market, sector, and stock history.
- Avoid the value trap and "being early" by combining traditional valuation measures with companies that exhibit business improvement and strong fundamentals.

Research-Driven
- Use proprietary fundamental research resources that understand the past but are focused on the future.
- Recognize that one size does not fit all; be flexible in performing analyses so as to solve for the right company, sector, and macro variables.

Risk-Controlled
- Employ risk controls at all levels of the portfolio- construction process to minimize unintended exposures and ensure performance is driven by stock selection.
- Set up/down price targets ahead of establishing new positions.


##### Process
Step 1: Universe Screening
The goal of this step is to review all potential U.S. equity securities in order to identify roughly 20 to 30 for inclusion on a fundamental working list. The Investment Manager uses quantitative screens during this step, and it also employs qualitative screens to uncover alpha opportunities not yet reflected in quantitative data. Either method can identify a security for potential
consideration. Ultimately, this step focuses their fundamental research effort in Step 2.
Step 2: Fundamental Research
Once a working list of securities has been identified, the Investment Manager conducts fundamental research on those names consistent with assigned sector coverage. A
large number of research inputs are utilized, including the Investment Manager’s proprietary Global Research team, but there is no one-size-fits-all approach to the
work. Ultimately, the team analyst makes a buy/pass recommendation supported by up/down price targets, investment thesis factors (valuation, fundamentals, business improvement) and potential risks.
Step 3: Portfolio Construction
The lead portfolio manager makes the final determination as to whether a security is added to the portfolio and what the specific security weightings need to be.
Importantly during this final step, decisions are made in the context of the overall risk profile of the portfolio. The result is a large cap value portfolio that is attractive from a risk/reward standpoint and consistent with the client's overall investment objective and related guidelines.

#### Registration in Germany
This Sub-Fund is registered for sale in Germany. The Sub- Fund is classified as an Equity Fund for German tax purposes and as such it will permanently invest more than 50% of its assets in equities as defined in article 2 paragraph 8 of the German Investment Tax Act.

#### Registration in Hong Kong
This Sub-Fund is registered for sale in Hong Kong.

#### Issue of Shares
The initial offering (the “Initial Offer Period”) for all launched share classes of the Sub-Fund has now closed.
The Initial Offer Period of unlaunched share classes shall continue until 30 April, 2021 or such earlier or later date
on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be issued during their respective Initial Offer Periods at their
respective initial offer price per Share of 1USD, 1£ or 1€
depending on the currency of the relevant class (plus the
sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Repurchase of Shares
Shares in each class may be repurchased, at the option of the relevant Shareholder, on any Valuation Day at the Valuation Point. The Repurchase Price is the Net Asset Value per Share of that class calculated as at the Valuation Point less the applicable redemption fee.
All requests for the repurchase of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Investment and Borrowing Restrictions
The Sub-Fund’s investment and borrowing restrictions are as set out under the heading “The Company - Investment and Borrowing Restrictions” in the Prospectus.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 50% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise stocklending arrangements and repurchase/reverse repurchase agreements for efficient portfolio management (EPM) purposes, subject to the conditions and limits set out in
the Central Bank UCITS Regulations. Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of
techniques and FDI the Sub-Fund may use for EPM purposes.
The Sub-Fund will not enter into cross currency hedging transactions.

#### Securities Financing Transactions
The Sub-Fund may engage in securities financing transactions (“SFTs”), i.e. stocklending arrangements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of SFTs shall be 100% of the Net Asset Value of the Sub-
Fund. However, it is not anticipated that the Sub-Fund’s
exposure to the SFTs will exceed 15% of the Net Asset
Value. The types of assets that will be subject to the stocklending arrangements will be assets which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Stocklending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Share Class Hedging
This Sub-Fund offers hedged share classes. Such share classes are indicated by the suffix “(hedged)” Please see the section entitled “Share Class Hedging” in the Prospectus for further information on the operation and
impact of hedged share classes.

#### Distribution Policy
In the case of the USD X (Inc.) share class, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September and paid on or before 11 February, 11 May, 11 August and 11 November.
In the case of the income generating (Inc.) and accumulating (Acc.) except the USD X (Inc.) share class, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February. Further details are set out under the heading
“The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management fee payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Euroland Bond Fund

### SUPPLEMENT 10 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
Insight Investment Management (Global) Limited
The Investment Manager may delegate its investment management functions to a Sub-Investment Manager and/or appoint a sub-investment adviser to provide investment advice in accordance with the requirements of the Central Bank. As at the date of this Supplement, the Investment Manager has appointed the Sub- Investment Manager, as described below.

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its investment management functions with respect to this
Sub-Fund to Insight North America LLC (the “Sub- Investment Manager”). Details of the Sub-Investment Management Agreement between the Investment
Manager and the Sub-Investment Manager are set out under the heading “Sub-Investment Managers” in the Prospectus.

#### Base Currency
Euro

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 17.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro A | EUR | 5,000 | 5% | 1.00% | 0% |
| USD A (Acc.) | USD | 5,000 | 5% | 1.00% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 1.00% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| CHF H (hedged) | CHF | 5,000 | 5% | 1.00% | 0% |
| Sterling H (Acc.) (hedged) | GBP | 5,000 | 5% | 1.00% | 0% |
| Sterling H (Inc.) (hedged) | GBP | 5,000 | 5% | 1.00% | 0% |
| USD H (Acc.) (hedged) | USD | 5,000 | 5% | 1.00% | 0% |
| USD H (Inc.) (hedged) | USD | 5,000 | 5% | 1.00% | 0% |

| “B” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro B | EUR | 10,000 | 5% | 0.75% | 0% |
| Euro B (Inc.) | EUR | 10,000 | 5% | 0.75% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro G (Acc.) | EUR | 5,000 | 5% | 0.50% | 0% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 0.50% | 0% |
| USD G (Acc.) (hedged) | USD | 5,000 | 5% | 0.50% | 0% |
| USD G (Inc.) (hedged) | USD | 5,000 | 5% | 0.50% | 0% |
| CHF G (Acc.) (hedged) | CHF | 5,000 | 5% | 0.50% | 0% |
| CHF G (Inc.) (hedged) | CHF | 5,000 | 5% | 0.50% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro C | EUR | 5,000,000 | 5% | 0.50% | 0% |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 0.50% | 0% |
| USD C (Acc.) | USD | 5,000,000 | 5% | 0.50% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 0.50% | 0% |
| Sterling C (Inc.) | GBP | 5,000,000 | 5% | 0.50% | 0% |
| Sterling C (Acc.) | GBP | 5,000,000 | 5% | 0.50% | 0% |
| CHF I (hedged) | CHF | 5,000,000 | 5% | 0.50% | 0% |
| Sterling I (Acc.) (hedged) | GBP | 5,000,000 | 5% | 0.50% | 0% |
| Sterling I (Inc.) (hedged) | GBP | 5,000,000 | 5% | 0.50% | 0% |
| USD I (Acc.) (hedged) | USD | 5,000,000 | 5% | 0.50% | 0% |
| USD I (Inc.) (hedged) | USD | 5,000,000 | 5% | 0.50% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| EUR W (Acc.) | EUR | 15,000,000 | 5% | 0.45% | 0% |
| EUR W (Inc.) | EUR | 15,000,000 | 5% | 0.45% | 0% |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.45% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.45% | 0% |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.45% | 0% |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.45% | 0% |
| CHF W (Acc.) | CHF | 15,000,000 | 5% | 0.45% | 0% |
| CHF W (Inc.) | CHF | 15,000,000 | 5% | 0.45% | 0% |
| USD W (Acc.) (hedged) | USD | 15,000,000 | 5% | 0.45% | 0% |
| USD W (Inc.) (hedged) | USD | 15,000,000 | 5% | 0.45% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.45% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.45% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.45% | 0% |
| CHF W (Inc.) (hedged) | CHF | 15,000,000 | 5% | 0.45% | 0% |

| “Z” Shares and “Z (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro Z (Inc.) | EUR | 200,000,000 | 5% | 0.40% | 0% |
| Euro Z (Acc.) | EUR | 200,000,000 | 5% | 0.40% | 0% |
| USD Z (Acc.) (hedged) | USD | 200,000,000 | 5% | 0.40% | 0% |
| USD Z (Inc.) (hedged) | USD | 200,000,000 | 5% | 0.40% | 0% |
| Sterling Z (Acc.) (hedged) | GBP | 200,000,000 | 5% | 0.40% | 0% |
| Sterling Z (Inc.) (hedged) | GBP | 200,000,000 | 5% | 0.40% | 0% |
| CHF Z (Acc.) (hedged) | CHF | 200,000,000 | 5% | 0.40% | 0% |
| CHF Z (Inc.) (hedged) | CHF | 200,000,000 | 5% | 0.40% | 0% |

| “X” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to provide total return that exceeds the Benchmark (against which it will measure its performance) through investment primarily, meaning at least 90% of its assets, in a portfolio of fixed income bonds and other debt securities issued by corporations or any government, government agency, supranational or public international organisations or in derivatives.
It is intended that the majority of investments will be
invested in Euroland Countries (countries which have the Euro as their unit of currency) (see “Investment Policy”).

##### Investment Policy
The Sub-Fund will be a fully invested portfolio and its investments will include government bonds, government agency bonds, corporate bonds, mortgage-backed bonds and asset-backed bonds traded on an Eligible Market or in FDI.
At least two thirds of the Sub-Fund’s Net Asset Value will be invested in securities issued by issuers located in Euroland Countries.
The Sub-Fund will have minimum exposure to Euro currency securities of 60% of its Net Asset Value and minimum exposure to Euro currency of 90% of its Net Asset Value.
The securities in which the Sub-Fund may invest will be rated in categories AAA to B.
The Sub-Fund may invest up to 30% of its Net Asset Value in FDI provided that it invests at least two-thirds of its Net Asset Value in bonds.
The Sub-Fund may invest up to 10% of its Net Asset Value in loans, participations in loans or assignments of loans to borrowers (which can be corporates, sovereign governments, public bodies or others) which will constitute money market instruments.
In addition, the Sub-Fund will not invest more than 10%
of its Net Asset Value in aggregate in collective investment schemes (“CIS”).
The Sub-Fund may also invest up to 10% of its Net Asset Value in debt securities in the People’s Republic of China (“PRC”) traded in the China interbank bond market (“CIBM”) via Bond Connect (as further described Appendix VI to the Prospectus.)
Country Diversification Policy
The Sub-Fund will focus on individual stock selection
rather than trying to predict which countries will perform well. However the Sub-Fund’s country allocation may differ from the Bloomberg Barclays Euro Aggregate Bond TR Index (the “Benchmark”) as a by-product of the stock- selection process. The maximum deviation from the
benchmark is likely to be 40%.
Typically, no one country will represent more than 80% of the Net Asset Value of the Sub-Fund.
Sector Diversification Policy
The Sub-Fund will focus on individual stock selection rather than trying to predict which sectors will perform
well. However the Sub-Fund’s sector allocation may differ
from the Benchmark as a by-product of the stock-
selection process. The maximum deviation from the Benchmark is likely to be 50%.
Normally, the weighting in any one industrial sector shall not be more than 20% of the Sub-Fund’s Net Asset Value.
Duration
The Sub-Fund will apply a duration controlled approach emphasising sector and securities selection.
The Sub-Fund will minimise the use of interest rate risk by maintaining portfolio average weighted duration (including cash) within a band of +/- 40% of the Benchmark.
Since the Investment Manager will deviate the duration
of the Sub-Fund from that of the Benchmark there can be no assurance that the Sub-Fund’s performance will match that of the Benchmark and depending on
circumstances may achieve higher or lower performance than the Benchmark.
Number of Holdings
Typically, no single holding of government guaranteed bonds will account for more than 25% of the Sub-Fund at the time of purchase and no single holding of corporate bond or other fixed interest security will account for more than 5% of the Sub-Fund.
The Sub-Fund may also invest up to 10% of its Net Asset value in open-ended CIS in order to diversify its investment in corporate bonds, high yield bonds and emerging market debt.
Security Selection Process and Quality Rating:
Intensive credit research will underpin much of the Sub- Fund’s intensive strategy, as it attempts to identify safe, but higher yielding, alternatives to the government bonds that dominate the Sub-Fund’s primary index. So as to capture relative value on an intermediate basis, the Sub-
Fund will also attempt to rotate tactically between the broad sectors in which the Sub-Fund may invest.
The securities in which the Sub-Fund may invest will be rated in categories AAA to B. The Sub-Fund will maintain an average quality rating not lower than A/A3 by at least one major a Recognised Rating Agency.
The minimum quality rating for an individual security is B-/B3.
Up to 25% of the Sub-Fund net asset value may be invested in BB+/Ba1 and B-/ B3.
Up to 40% of the Sub-Fund net asset value may be invested in a combination of high yield corporate, convertible, preferred and emerging market debt securities.
Cash Positions
The Sub-Fund aims to remain fully invested at all times and maintain modest cash positions, as ancillary liquid assets, typically less than 5%. However, during periods of unusually high subscription activity the cash position could exceed this level over the short term but will not exceed a maximum level of 10%.
Hedging of Currencies
The Sub-Fund will seek to limit its exposure to currencies other than the Euro by limiting its exposure to such
currencies to 10% of the Sub-Fund’s Net Asset Value. Any
exposure in excess of this amount will be fully hedged to
Euros by way of forward foreign exchange contract.
Cross “hedging” of currencies is permitted as long as it does not result in short positions after taking into account the underlying assets.
It is anticipated that cross-hedging of currencies will be only be utilised in unusual circumstances.

##### Benchmark
Bloomberg Barclays Euro Aggregate Bond TR Index (the
“Benchmark”).
The Benchmark includes fixed-rate, investment-grade Euro denominated bonds. Inclusion is based on the currency of the issue, and not the domicile of the issuer. The principal sectors in the Benchmark are the Treasury, corporate, government-related and securitised.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest outside the Benchmark subject to the investment
objective and policy. While the majority of the Sub-Fund’s
holdings are expected to be constituents of, and have
similar weightings to, the Benchmark, the investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.

##### Investment Strategy
The Investment Manager employs a dynamic and active approach to portfolio management through investment in a wide array of fixed income, currency and FDI (as
detailed above in the section “Investment Policy” and below in the section “Use of FDI”), in order to reduce risk via diversification and enhance potential returns.
The Investment Manager performs both top-down macroeconomic research and bottom-up security research in the management of the Sub-Fund. Their investment process is one that is based primarily on fundamental research but also employs quantitative inputs. Top-down research, includes the use of a number of proprietary valuation models that are used to value currencies and interest rates and to determine the
relative valuation between various fixed income sectors. The Investment Manager’s fundamental research process involves country and security specific research to
determine credit worthiness of the issuer
At least two thirds of the Sub-Fund's Net Asset Value will be invested in securities issued by issuers located in Euroland Countries. The Sub-Fund will have minimum exposure to Euro currency securities of 60% and minimum exposure to Euro currency of 90%. The majority of the bonds, debt and debt-related securities and FDI will be listed or traded on an Eligible Market.

##### The Sustainable Finance Disclosure Regulation
The management of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively impacted by
an ESG event or condition (“ESG Event”).
As part of the bottom-up security research process, the Investment Manager assesses the environmental, social and governance factors of each portfolio investment for potential sustainability risks. These factors may include, but are not limited to, an issuers impact on the environment, including emissions, land use and waste
practices, and an issuer’s social policies and practices,
including employee matters, supply chain practices and human rights policies. The Investment Manager’s internal credit research includes resources such as the Investment Manager’s proprietary ESG score as an input and is supplemented with third-party resources including
MSCI ESG data and ratings, Bloomberg ESG data,
Sustainability Accounting Standards Board’s (SASB) Engagement Guide, credit rating agency research, sell-
side research and industry events. This research into sustainability risks is taken into consideration, along with
the Investment Manager’s macroeconomic research and
credit analysis, in the security selection process.
The Investment Manager also assesses the governance practices of issuers through its fundamental research, supplemented by third-party governance scoring methodologies, in order to satisfy itself that the relevant issuers follow good governance practices, in particular with respect to sound management structures, employee relations, remuneration of staff and tax compliance.
The Investment Manager monitors sustainability factors and risk exposures on a regular basis by reviewing
regular reporting on both the Investment Manager’s
proprietary and third-party ESG scores.
As explained above, the management and assessment of sustainability risks forms an important part of the Investment Manager's due diligence, however there may still be a risk that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Government Bond Futures Currency Futures Money Market Futures |
| --- | --- |
| Options | Options on Government Bond Futures Options on Currency Futures Currency Options (including FX Options) Swaptions |
| Forwards (de- liverable and non-deliver- able) | Forward Foreign Exchange Contracts |

| Swaps | Credit Default Swaps (single name, index and custom basket) Interest Rate Swaps Total Return Swaps (single name, credit, index and custom basket) Inflation Swaps |
| --- | --- |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial
purpose, are described in the Prospectus in the section entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both efficient portfolio management (EPM) and investment purposes. The Sub- Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit CDX American Investment Grade High Volatility Index Markit CDX North American Investment Grade Index Markit CDX North American High Yield Index Markit CDX North American High Yield Beta Index Markit CDX Emerging Markets Index Markit CDX Emerging Markets Diversified Index Markit iTraxx Europe Index Markit iTraxx Crossover Index Markit iTraxx Financial Index Markit iTraxx Subordinated Financial Index |
| Interest rate indices to provide exposure to interest rate markets and to express the managers view that the yield curve will move in a particular direction in a more cost effective or efficient manner than buying physical securities. | EURIBOR LIBOR SOFR SONIA |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. The remaining financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where additional information can be found, will be set out in the
Company’s semi-annual and annual accounts.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Relative VaR
Relative VaR Limit: Sub-Fund’s portfolio will not exceed twice the VaR on a representative benchmark portfolio (using a 20 Business Day holding period)
Relative VaR Benchmark: Bloomberg Barclays Euro Aggregate Bond Index
Gross leverage is expected to vary between: 100 – 500% of the Net Asset Value. The gross leverage may exceed this target level at times
For more information on the Relative VaR approach and Gross Leverage, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in SFTs, i.e. securities lending arrangements and
repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 10% and in respect of SFTs shall be 100% of the Net Asset Value of the Sub-Fund. However, it is
not anticipated that the Sub-Fund’s exposure in respect
of TRS will exceed 10% and in respect of SFTs will
exceed 15% of the Net Asset Value of the Sub-Fund. The types of assets that will be subject to TRS and SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be issued during their respective Initial Offer Periods at their
respective initial offer price per Share of 1USD, 1£, 1€ or
1CHF depending on the currency of the relevant class
(plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11
November respectively. Further details are set out under the heading "The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Emerging Markets Debt Fund

### SUPPLEMENT 11 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
Insight Investment Management (Global) Limited
The Investment Manager may delegate its investment management functions to a Sub-Investment Manager and/or appoint a sub-investment adviser to provide investment advice in accordance with the requirements of the Central Bank. As at the date of this Supplement, the Investment Manager has appointed the Sub- Investment Manager, as described below.

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its investment management functions with respect to this
Sub-Fund to Insight North America LLC (the “Sub- Investment Manager”). Details of the Sub-Investment Management Agreement between the Investment
Manager and the Sub-Investment Manager are set out under the heading “Sub-Investment Managers” in the Prospectus.

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro A | EUR | 5,000 | 5% | 1.50% | 0% |
| USD A | USD | 5,000 | 5% | 1.50% | 0% |
| Euro H (Acc.) (hedged) | EUR | 5,000 | 5% | 1.50% | 0% |
| Euro H (Inc.) (hedged) | EUR | 5,000 | 5% | 1.50% | 0% |
| Sterling H (Acc.) (hedged) | GBP | 5,000 | 5% | 1.50% | 0% |
| Sterling H (Inc.) (hedged) | GBP | 5,000 | 5% | 1.50% | 0% |

| “G” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 1.00% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 1.00% | 0% |
| Euro G (Acc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 1.00% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro C | EUR | 5,000,000 | 5% | 1.00% | 0% |
| USD C | USD | 5,000,000 | 5% | 1.00% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Inc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Acc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Sterling I (Acc.) (hedged) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Sterling I (Inc.) (hedged) | GBP | 5,000,000 | 5% | 1.00% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro W (Acc.) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| USD W | USD | 15,000,000 | 5% | 0.75% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.75% | 0% |

| “X” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The investment objective of the Sub-Fund is to achieve a superior total return from a portfolio of bond and other debt instruments from emerging markets worldwide or in derivatives.

##### Investment Policy
The Sub-Fund will primarily invest in a portfolio of emerging market bonds and other debt securities, such as international sovereign, government supranational agency, corporate, bank notes and bonds (which may be fixed or floating), Brady and Yankee Bonds and mortgage- backed securities or in FDI.
The Sub-Fund will invest at least two thirds of its Net Asset Value in straight bonds issued by issuers having their registered seat in emerging market countries or exercising the preponderant part of their economic activity in emerging markets and a maximum of one third of its assets in monetary papers with a maturity less than 12 months.
The Sub-Fund may invest a maximum of 25% of its Net Asset Value in convertible bonds and 10% of its Net Asset Value in equity and equity-related securities, including convertible preference shares and warrants.
The Sub-Fund may also invest up to 10% of its Net Asset Value in loans (including loan participations/loan participation notes and loan assignments), which will either be transferable securities or money market instruments.
The Sub-Fund may invest up to 20% of its Net Asset Value in securities listed or traded on Russian markets.
Such securities will be listed or traded on Eligible Markets located worldwide.
The Investment Manager will not be restricted by credit quality or maturity when making investment decisions. Therefore no minimum credit rating will apply to the investments of the Sub-Fund.
In addition, the Sub-Fund will not invest more than 10% of its Net Asset Value in aggregate in collective investment schemes.

##### Benchmark
JP Morgan Emerging Markets Bond Index (EMBI) Global TR Index (the “Benchmark”).
The Benchmark tracks total returns for traded external debt instruments in the emerging markets, and is an expanded version of the JPMorgan EMBI+. As with the EMBI+, the EMBI Global includes U.S. Dollar denominated Brady bonds, loans, and Eurobonds with an outstanding face value of at least $500 million. It covers more of the eligible instruments than the EMBI+ by relaxing somewhat the strict EMBI+ limits on secondary market trading liquidity.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest outside the Benchmark subject to the investment
objective and policy. While the majority of the Sub-Fund’s
holdings are expected to be constituents of, and have
similar weightings to, the Benchmark, the investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.

##### Investment Strategy
The investment process is largely top-down, fundamental in nature, but it is also supported by the discipline of quantitative models. It is geared toward overweighting countries experiencing deep, positive, fundamental changes, and underweighting or outright avoiding those countries whose currencies and/or bonds are supported primarily by short-term capital flows, which may reverse quickly in the future. Top-down analysis of macroeconomic, financial, and political variables guides country allocation. Careful consideration is also given to the global risk environment and market technicals.
At least two thirds of the Sub-Fund's Net Asset Value will be invested in securities issued by issuers located in (and/or conduct the greater part of their economic activity in) emerging market countries around the world.

##### The Sustainable Finance Disclosure Regulation
The management of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively impacted by
an ESG event or condition (“ESG Event”).
As part of the bottom-up security research process, the Investment Manager assesses the environmental, social and governance factors of each portfolio investment for potential sustainability risks. These factors may include, but are not limited to, an issuers impact on the environment, including emissions, land use and waste
practices, and an issuer’s social policies and practices,
including employee matters, supply chain practices and human rights policies. The Investment Manager’s internal credit research includes resources such as the Investment Manager’s proprietary ESG score as an input and is supplemented with third-party resources including
MSCI ESG data and ratings, Bloomberg ESG data, Sustainability Accounting Standards Board’s (SASB) Engagement Guide, credit rating agency research, sell-
side research and industry events. This research into
sustainability risks is taken into consideration, along with the Investment Manager’s macroeconomic research and credit analysis, in the security selection process.
The Investment Manager also assesses the governance practices of issuers through its fundamental research, supplemented by third-party governance scoring methodologies, in order to satisfy itself that the relevant issuers follow good governance practices, in particular with respect to sound management structures, employee relations, remuneration of staff and tax compliance.
The Investment Manager monitors sustainability factors and risk exposures on a regular basis by reviewing
regular reporting on both the Investment Manager’s
proprietary and third-party ESG scores.
As explained above, the management and assessment of sustainability risks forms an important part of the Investment Manager's due diligence, however there may still be a risk that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations
under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Government Bond Futures Currency Futures Money Market Futures |
| --- | --- |
| Options | Options on Government Bond Futures Options on Currency Futures Currency Options (including FX Options) Bond Options |
| Forwards (de- liverable and non-deliver- able) | Forward Foreign Exchange Contracts |
| Swaps | Credit Default Swaps (single name, index and custom basket) Interest Rate Swaps Total Return Swaps (single name, credit, index and custom basket) |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit CDX American Investment Grade High Volatility Index Markit CDX North American Investment Grade Index Markit CDX North American High Yield Index Markit CDX North American High Yield Beta Index Markit CDX Emerging Markets Index Markit CDX Emerging Markets Diversified Index Markit iTraxx Europe Index Markit iTraxx Crossover Index Markit iTraxx Financial Index Markit iTraxx Subordinated Financial Index |
| Interest rate indices to provide exposure to interest rate markets and to express the managers view that the yield curve will move in a particular direction in a more cost effective or efficient manner than buying physical securities. | EURIBOR LIBOR SOFR SONIA |

The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both efficient portfolio management (EPM) and investment purposes. The Sub- Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. The remaining financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where additional information can be found, will be set out in the
Company’s semi-annual and annual accounts.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Relative VaR
Relative VaR Limit: Sub-Fund’s portfolio will not exceed twice the VaR on a representative benchmark portfolio (using a 20 Business Day holding period)
Relative VaR Benchmark: JP Morgan Emerging Markets Bond Index (EMBI) Global Index
Gross leverage is expected to vary between: 0 – 300% of the Net Asset Value. The gross leverage may exceed this target level at times
For more information on the Relative VaR approach and Gross Leverage, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in SFTs, i.e. securities lending arrangements and
repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 10% and in respect of SFTs shall be 100%
of the Net Asset Value of the Sub-Fund. However, it is not anticipated that the Sub-Fund’s exposure in respect of TRS will exceed 10% and in respect of SFTs will
exceed 15% of the Net Asset Value of the Sub-Fund. The types of assets that will be subject to TRS and SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1£, 1€ or 1CHF depending on the currency of the relevant class
(plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11 November respectively. Further details are set out under
the heading "The Company - Distribution Policy” in the
Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors’ attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Emerging Markets Debt Local Currency Fund

### SUPPLEMENT 12 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. The use of FDI for investment purposes will not be extensive. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- The Sub-Fund’s Net Asset Value may have a high level of volatility due to its investment policy.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
Insight Investment Management (Global) Limited
The Investment Manager may delegate its investment management functions to a Sub-Investment Manager and/or appoint a sub-investment adviser to provide investment advice in accordance with the requirements of the Central Bank. As at the date of this Supplement, the Investment Manager has appointed the Sub- Investment Manager, as described below.

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its investment management functions with respect to this
Sub-Fund to Insight North America LLC (the “Sub- Investment Manager”). Details of the Sub-Investment Management Agreement between the Investment
Manager and the Sub-Investment Manager are set out under the heading “Sub-Investment Managers” in the Prospectus.

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD A | USD | 5,000 | 5% | 1.50% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 1.50% | 0% |
| Euro A | EUR | 5,000 | 5% | 1.50% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 1.50% | 0% |
| Sterling A (Acc.) | GBP | 5,000 | 5% | 1.50% | 0% |
| Sterling A (Inc.) | GBP | 5,000 | 5% | 1.50% | 0% |
| Euro H (hedged) | EUR | 5,000 | 5% | 1.50% | 0% |
| Sterling H (Acc.) (hedged) | GBP | 5,000 | 5% | 1.50% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| Sterling H (Inc.) (hedged) | GBP | 5,000 | 5% | 1.50% | 0% |
| CHF H (Acc.) (hedged) | CHF | 5,000 | 5% | 1.50% | 0% |

| “B” Shares and “J (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Sterling B (Acc.) | GBP | 10,000 | 5% | 1.25% | 0% |
| Sterling J (Inc.) (hedged) | GBP | 10,000 | 5% | 1.25% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 1.00% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 1.00% | 0% |
| Euro G (Acc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Acc.) | GBP | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Inc.) | GBP | 5,000 | 5% | 1.00% | 0% |
| Euro G (Acc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Acc.) (hedged) | GBP | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Inc.) (hedged) | GBP | 5,000 | 5% | 1.00% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD C | USD | 5,000,000 | 5% | 1.00% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 1.00% | 0% |
| Euro C | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Acc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Inc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| CHF I (Acc.) (hedged) | CHF | 5,000,000 | 5% | 1.00% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD W | USD | 15,000,000 | 5% | 0.65% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.65% | 0% |
| Euro W | EUR | 15,000,000 | 5% | 0.65% | 0% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.65% | 0% |
| Euro W (hedged) | EUR | 15,000,000 | 5% | 0.65% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.65% | 0% |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.65% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.65% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.65% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.65% | 0% |

| “X” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD X | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| Euro X (Inc.) | EUR | None | 0% | 0% | 0% |
| CHF X (Inc.) | CHF | None | 0% | 0% | 0% |
| JPY X (Acc.) | JPY | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The investment objective of the Sub-Fund is to achieve a superior total return from a portfolio of bond and other debt instruments, including derivatives thereon, from emerging markets.

##### Investment Policy
The Sub-Fund will primarily invest, in a portfolio of emerging market bonds and other debt securities, denominated in the local currency of issue, such as international sovereign, government, supranational, agency, corporate, structured notes and bonds (which may be fixed or floating), and mortgage-backed and other asset-backed securities, or FDI thereon.
The Sub-Fund may also invest in other bonds denominated in a hard currency. Such emerging markets may include, but are not limited to, Argentina, Brazil, Chile, China, Colombia, Czech Republic, Egypt, Hungary, India, Indonesia, Israel, Jordan, Korea, Malaysia, Mexico, Morocco, Pakistan, Peru, Philippines, Poland, Russia, South Africa, Taiwan, Thailand, Turkey and Venezuela.
The Sub-Fund will invest at least two thirds of its total Net Asset Value in bonds and other debt securities, or FDI thereon, issued by issuers having their registered seat in emerging market countries or exercising the preponderant part of their economic activity in emerging markets and a maximum of one third of its Net Asset Value in monetary papers with a maturity less than 12 months.
The Sub-Fund may invest a maximum of 25% of its Net Asset Value in convertible bonds.
In addition, the Sub-Fund will not invest more than 10% of its Net Asset Value in aggregate in collective investment schemes.
Such securities will be listed or traded on Eligible Markets located worldwide.
The Sub-Fund will not invest in equity or equity-related securities.
The Investment Manager will not be restricted by credit quality or maturity when making investment decisions. Therefore no minimum credit rating will apply to the investments of the Sub-Fund, which may be rated below investment grade.
The Sub-Fund may invest more than 10% and up to 35% of its Net Asset Value in debt securities issued and/or guaranteed by a single sovereign issuer (including its government, public or local authority) which is below investment grade (i.e. BB+ or below) as rated by a Recognised Rating Agency. Examples of such sovereign issuers are Turkey, Russia, South Africa and Brazil. Such investments are based on (i) the reference to the
“Benchmark (as defined below)” and/or (ii) the
professional judgment of the Investment Manager whose
reasons for investment may include a favourable / positive outlook on the sovereign issuer, potential for ratings upgrade and the expected changes in the value of such investments due to the ratings changes. Please note that ratings of sovereign issuers may change from time to time and the abovementioned sovereigns are named only for reference and are subject to change as their ratings change.
The Sub-Fund may invest up to 20% of its Net Asset Value in securities listed or traded on Russian markets.
The Sub-Fund may also invest up to 20% of its Net Asset Value in debt securities in the People’s Republic of China (“PRC”) traded in the China interbank bond market (“CIBM”) via Bond Connect (as further described Appendix VI to the Prospectus.)

##### Benchmark
JP Morgan GBI-EM Global Diversified TR Index (the
“Benchmark”).
The Benchmark is a comprehensive emerging market debt index that track local currency bonds issued by Emerging market governments. The Benchmark was launched in June 2005 and is the first comprehensive global local Emerging Markets index.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest
outside the Benchmark subject to the investment objective and policy. While the majority of the Sub-Fund’s holdings are expected to be constituents of, and have
similar weightings to, the Benchmark, the investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.

##### Investment Strategy
The Sub-Fund is an actively managed bond fund designed to maximise the total return from a fixed income portfolio of bonds and other debt instruments issued predominately in local currency by governments, agencies and corporations in emerging market economies, including the limited use of FDI.
The investment process is largely top-down, fundamental in nature, but it is also supported by the discipline of quantitative models. The Investment Manager seeks to overweight those countries experiencing deep, positive, fundamental changes, and underweighting or outright avoiding those countries whose currencies and/or bonds are supported primarily by short-term capital flows, which may reverse quickly in the future. The investment strategy is based on the analysis of medium-term (12 months ahead) sovereign fundamentals, with a goal of identifying shifts in country fundamentals a few months before they are priced in by the market.
At least two thirds of the Sub-Fund's Net Asset Value will be invested in securities issued by issuers located in (and/or conduct the greater part of their economic activity in) emerging market countries around the world.

##### The Sustainable Finance Disclosure Regulation
The management of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively impacted by
an ESG event or condition (“ESG Event”).
As part of the bottom-up security research process, the Investment Manager assesses the environmental, social and governance factors of each portfolio investment for potential sustainability risks. These factors may include, but are not limited to, an issuers impact on the
environment, including emissions, land use and waste practices, and an issuer’s social policies and practices, including employee matters, supply chain practices and human rights policies. The Investment Manager’s internal credit research includes resources such as the Investment Manager’s proprietary ESG score as an input and is supplemented with third-party resources including
MSCI ESG data and ratings, Bloomberg ESG data, Sustainability Accounting Standards Board’s (SASB) Engagement Guide, credit rating agency research, sell-
side research and industry events. This research into
sustainability risks is taken into consideration, along with the Investment Manager’s macroeconomic research and credit analysis, in the security selection process.
The Investment Manager also assesses the governance practices of issuers through its fundamental research, supplemented by third-party governance scoring methodologies, in order to satisfy itself that the relevant
issuers follow good governance practices, in particular with respect to sound management structures, employee relations, remuneration of staff and tax compliance.
The Investment Manager monitors sustainability factors
and risk exposures on a regular basis by reviewing regular reporting on both the Investment Manager’s proprietary and third-party ESG scores.
As explained above, the management and assessment of sustainability risks forms an important part of the Investment Manager's due diligence, however there may still be a risk that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of
the principal adverse impact consideration regime in Article 4 SFDR, (the “PAI regime”). The Manager is supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Government Bond Futures Currency Futures Money Market Futures |
| --- | --- |
| Options | Options on Government Bond Futures Options on Currency Futures Currency Options (including FX Options) Bond Options |
| Forwards (de- liverable and non-deliver- able) | Forward Foreign Exchange Contracts |
| Swaps | Credit Default Swaps (single name, index and custom basket) Interest Rate Swaps Total Return Swaps (single name, credit, index and custom basket) |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

##### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both efficient portfolio management (EPM) and investment purposes. The Sub- Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit CDX American Investment Grade High Volatility Index Markit CDX North American Investment Grade Index Markit CDX North American High Yield Index Markit CDX North American High Yield Beta Index Markit CDX Emerging Markets Index Markit CDX Emerging Markets Diversified Index Markit iTraxx Europe Index Markit iTraxx Crossover Index Markit iTraxx Financial Index Markit iTraxx Subordinated Financial Index |
| Interest rate indices to provide exposure to interest rate markets and to express the managers view that the yield curve will move in a particular direction in a more cost effective or efficient manner than buying physical securities. | EURIBOR LIBOR SOFR SONIA |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. The remaining financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where additional information can be found, will be set out in the
Company’s semi-annual and annual accounts.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Relative VaR
Relative VaR Limit: Sub-Fund’s portfolio will not exceed twice the VaR on a representative benchmark portfolio (using a 20 Business Day holding period)
Relative VaR Benchmark: JP Morgan GBI-EM Global Diversified Index
Gross leverage is expected to vary between: 0 – 300% of the Net Asset Value. The gross leverage may exceed this target level at times.
For more information on the Relative VaR approach and Gross Leverage, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in SFTs, i.e. securities lending arrangements and
repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 10% and in respect of SFTs shall be 100%
of the Net Asset Value of the Sub-Fund. However, it is not anticipated that the Sub-Fund’s exposure in respect of TRS will exceed 10% and in respect of SFTs will
exceed 15% of the Net Asset Value of the Sub-Fund. The types of assets that will be subject to TRS and SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1£, 1€, 1CHF or 100¥ depending on the currency of the relevant
class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11 November. Further details are set out under the heading
"The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors’ attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Brazil Equity Fund

### SUPPLEMENT 13 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- The Sub-Fund’s Net Asset Value may have a high level of volatility due to its investment policy.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
ARX Investimentos Ltda.

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and Brazil.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro A | EUR | 5,000 | 5% | 2.00% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 2.00% | 0% |
| USD A | USD | 5,000 | 5% | 2.00% | 0% |
| Sterling A (Acc.) | GBP | 5,000 | 5% | 2.00% | 0% |
| Sterling A (Inc.) | GBP | 5,000 | 5% | 2.00% | 0% |
| DKK A (Acc.) | DKK | 50,000 | 5% | 2.00% | 0% |
| NOK A (Acc.) | NOK | 50,000 | 5% | 2.00% | 0% |
| SEK A (Acc.) | SEK | 50,000 | 5% | 2.00% | 0% |
| Euro H (hedged) | EUR | 5,000 | 5% | 2.00% | 0% |

| “B” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro B | EUR | 10,000 | 5% | 1.50% | 0% |
| USD B | USD | 10,000 | 5% | 1.50% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| Sterling B (Acc.) | GBP | 10,000 | 5% | 1.50% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 1.00% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 1.00% | 0% |
| Euro G (Acc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Acc.) | GBP | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Inc.) | GBP | 5,000 | 5% | 1.00% | 0% |
| Euro G (Acc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro C | EUR | 5,000,000 | 5% | 1.00% | 0% |
| USD C | USD | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Acc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Inc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |

| “W” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro W | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| USD W | USD | 15,000,000 | 5% | 0.75% | 0% |
| DKK W (Acc.) | DKK | 150,000,000 | 5% | 0.75% | 0% |
| NOK W (Acc.) | NOK | 150,000,000 | 5% | 0.75% | 0% |
| SEK W (Acc.) | SEK | 150,000,000 | 5% | 0.75% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.75% | 0% |

| “X” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to achieve long-term capital growth
through investment primarily (meaning at least three- quarters of the Sub-Fund’s total assets) in a portfolio of equity and equity-related securities of companies having
their registered office in Brazil or carrying out a preponderant part of their activities in Brazil.

##### Investment Policy
The Sub-Fund will invest at least three-quarters of its Net Asset Value in a portfolio of equity and equity-related securities (including preference shares, convertible preference shares, and American Depositary Receipts (listed in the United States)) of companies located in or exercising a preponderant part of their activities in Brazil.
Up to one-quarter of the Sub-Fund’s Net Asset Value may be invested in equity and equity-related securities of
companies which are neither located in Brazil nor exercising a preponderant part of their activities in Brazil.
Up to one-quarter of the Sub-Fund’s Net Asset Value may also be invested in convertible bonds (both fixed and floating rate, corporate and non-corporate, rated and
unrated), fixed and floating rate semi-government and corporate bonds (of investment grade quality or lower), cash, money market instruments (including, but not limited to, commercial paper, government bonds and
certificates of deposit) and, collective investment schemes (“CIS”).
The Sub-Fund may use FDI, as outlined below in the section headed “Use of FDI”. The Sub-Fund may on occasion hold warrants or stock purchase rights where
these have been acquired by the Sub-Fund as a result of corporate actions.
The majority of the Sub-Fund’s investments shall be listed or traded on Eligible Markets located in Brazil and the United States. The remainder of the Sub-Fund’s listed investments shall be listed or traded on Eligible Markets
located outside Brazil and the United States.
In addition, the Sub-Fund will not invest more than 10% of its Net Asset Value in aggregate in CIS.

##### Benchmark
MSCI Brazil 10/40 NR Index (the “Benchmark”).
The Benchmark is designed to measure the performance of the large and mid cap segments of the Brazilian market. The MSCI 10/40 equity indexes are designed and maintained on a daily basis to take into consideration the 10% and 40% concentration constraints on funds subject to the UCITS III Directive. With 55 constituents, the Benchmark covers approximately 85% of the free float- adjusted market capitalization in Brazil.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest outside the Benchmark subject to the investment objective and policy. However, as the Benchmark covers a
significant proportion of the investable universe, the majority of the Sub-Fund’s holdings will be constituents of the Benchmark but the weightings in the portfolio are
not influenced by those of the Benchmark. The investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.

##### Investment Strategy
The Investment Manager will pursue a value strategy, with a view to investing in companies with high dividend yield ratios and the capability to preserve income and capital, that follows a combination of fundamental analysis and bottom-up stock selection in the approach to portfolio construction.
In addition, macroeconomic and business sector conditions are evaluated. Pursuing a value/income strategy ensures that only companies with sound business fundamentals, attractive valuations and a high dividend yield are included in the portfolio. Dividends are an important part of the investment decision, as is the valuation attractiveness related to future capital gains.
The portfolio construction process relies on quantitative optimization models, liquidity caps, company and sector diversification limits and attempts to minimize market risk and increase risk-adjusted returns.
Whilst the investors may benefit from short-term gains, the Investment Manager will not be targeting them specifically. The Investment Manager will pursue a value strategy with a view to investing in companies with high dividend yield ratios and the capability to preserve income and capital over the long-term. Because of the long-term nature of this Sub-Fund, the Investment Manager purchases equity and equity-related securities with a view to holding them for a period of 3 to 5 years.
The philosophy of the Investment Manager is based on a non-benchmarked and research driven quantitative investment process.
Stock selection focuses on companies with sustainable earnings (company level), a high dividend level (shareholder level), and attractive valuations.

##### The Sustainable Finance Disclosure Regulation
The management of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively impacted by
an ESG event or condition (“ESG Event”).
Using both quantitative and qualitative processes, sustainability risk is identified, monitored and managed by the Investment Manager in the following manner:
- Prior to acquiring investments on behalf of the Sub- Fund, the Investment Manager considers ESG factors in order to screen the relevant investment against sustainability risk and to identify whether it is vulnerable to such risk. This process incorporates applying both an exclusion policy (whereby potential investments may be removed from the investment universe on the basis that they pose too great a sustainability risk to the Sub-Fund) and positive screening whereby those investments which are considered to have a low sustainability risk as well as strong financial performance are included in the investment universe. The Investment Manager alsoconducts fundamental analysis on each potential investment, using ESG data published by the issuer (where relevant) or proprietary research in order to allow it to assess the adequacy of ESG practices of an issuer to manage the sustainability risk it faces. The information gathered from the fundamental analysis conducted will be taken into account by the Investment Manager in deciding whether to acquire a holding in an issuer and may, in certain circumstances, result in the Investment Manager investing in an issuer which apparently has a higher associated ESG risk where it believes that the market perception regarding its ESG practices does not fully capture recent positive sustainability-related changes which have been implemented by the relevant issuer.
- During the life of the investment, sustainability risk is monitored through review of ESG data published by the issuer (where relevant) or proprietary research to determine whether the level of sustainability risk has changed since the initial assessment has been conducted. Where the sustainability risk associated with a particular investment has increased beyond the ESG risk appetite for the Sub-Fund, theInvestment Manager will consider selling or reducing the Sub-Fund’s exposure to the relevant investment, taking into account the best interests of theShareholders of the Sub-Fund.

As explained above, the management and assessment of sustainability risks forms an important part of the
Investment Manager’s due diligence process, however,
there may still be a risk that the value of a Sub-Fund
could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
| Futures | Currency Futures |
| --- | --- |
| Options | Options on Currency Futures Currency Options (including FX Options) |

The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Forwards (de- liverable and non-deliver- able) | Forward Foreign Exchange Contracts |
| --- | --- |
| Securities with Embedded FDI/Leverage | Convertible Bonds Warrants Stock Purchase Rights |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial
purpose, are described in the Prospectus in the section entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Registration in Germany
This Sub-Fund is registered for sale in Germany. The Sub- Fund is classified as an Equity Fund for German tax purposes and as such it will permanently invest more than 50% of its assets in equities as defined in article 2 paragraph 8 of the German Investment Tax Act.

#### Settlement Period
The settlement proceeds for this Sub-Fund must normally be paid in cleared funds in the base currency of the relevant class by telegraphic transfer to the bank account specified in the relevant application form within two Business Days immediately following the relevant
Valuation Day (“T+2”).

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 100% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. securities lending arrangements and repurchase/reverse repurchase
agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of SFTs shall be 100% of the Net Asset Value of the Sub-
Fund. However, it is not anticipated that the Sub-Fund’s
exposure in respect of SFTs will exceed 15% of the Net
Asset Value of the Sub-Fund. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1£, 1€, 10DKK, 10NOK or 10SEK depending on the currency of
the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will
normally be paid on or before 11 February. Further details are set out under the heading “The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors’ attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Long-Term Global Equity Fund

### SUPPLEMENT 14 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- The Sub-Fund’s Net Asset Value may have a high level of volatility due to its investment policy.


#### The Investment Manager
Walter Scott & Partners Limited

#### Base Currency
Euro

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro A | EUR | 5,000 | 5% | 2.00% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 2.00% | 0% |
| USD A | USD | 5,000 | 5% | 2.00% | 0% |
| Sterling A (Inc.) | GBP | 5,000 | 5% | 2.00% | 0% |
| Sterling A (Acc.) | GBP | 5,000 | 5% | 2.00% | 0% |
| USD H (Acc.) (hedged) | USD | 5,000 | 5% | 2.00% | 0% |
| DKK H (Acc.) (hedged) | DKK | 50,000 | 5% | 2.00% | 0% |
| NOK H (Acc.) (hedged) | NOK | 50,000 | 5% | 2.00% | 0% |
| SEK H (Acc.) (hedged) | SEK | 50,000 | 5% | 2.00% | 0% |

| “B” Shares and “J (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro B | EUR | 10,000 | 5% | 1.50% | 0% |
| Sterling B (Inc.) | GBP | 10,000 | 5% | 1.50% | 0% |
| USD B | USD | 10,000 | 5% | 1.50% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| USD B (Inc.) | USD | 10,000 | 5% | 1.50% | 0% |
| CAD B (Acc.) | CAD | 10,000 | 5% | 1.50% | 0% |
| SGD B (Acc.) | SGD | 10,000 | 5% | 1.50% | 0% |
| SGD B (Inc.) | SGD | 10,000 | 5% | 1.50% | 0% |
| CNH B (Acc.) | CNH | 100,000 | 5% | 1.50% | 0% |
| HKD B (Acc.) | HKD | 100,000 | 5% | 1.50% | 0% |
| USD J (Acc.) (hedged) | USD | 10,000 | 5% | 1.50% | 0% |
| CAD J (Acc.) (hedged) | CAD | 10,000 | 5% | 1.50% | 0% |
| SGD J (Acc.) (hedged) | SGD | 10,000 | 5% | 1.50% | 0% |
| CNH J (Acc.) (hedged) | CNH | 100,000 | 5% | 1.50% | 0% |
| HKD J (Acc.) (hedged) | HKD | 100,000 | 5% | 1.50% | 0% |
| JPY J (Acc.) (hedged) | JPY | 1,000,000 | 5% | 1.50% | 0% |
| JPY J (Inc.) (hedged) | JPY | 1,000,000 | 5% | 1.50% | 0% |

| “G” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 1.00% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 1.00% | 0% |
| Euro G (Acc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Acc.) | GBP | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Inc.) | GBP | 5,000 | 5% | 1.00% | 0% |

| “C” Shares and “I (hedged)” shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro C | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| USD C | USD | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Acc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| USD I (Inc.) (hedged) | USD | 5,000,000 | 5% | 1.00% | 0% |
| USD I (Acc.) (hedged) | USD | 5,000,000 | 5% | 1.00% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro W | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (hedged) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| USD W | USD | 15,000,000 | 5% | 0.75% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.75% | 0% |
| USD W (hedged) | USD | 15,000,000 | 5% | 0.75% | 0% |
| AUD W (Acc.) (hedged) | AUD | 15,000,000 | 5% | 0.75% | 0% |
| CAD W (Acc.) (hedged) | CAD | 15,000,000 | 5% | 0.75% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| HKD W (Acc.) (hedged) | HKD | 150,000,000 | 5% | 0.75% | 0% |
| CNH W (Acc.) (hedged) | CNH | 150,000,000 | 5% | 0.75% | 0% |
| SGD W (Acc.) (hedged) | SGD | 15,000,000 | 5% | 0.75% | 0% |
| DKK W (Acc.) (hedged) | DKK | 150,000,000 | 5% | 0.75% | 0% |
| NOK W (Acc.) (hedged) | NOK | 150,000,000 | 5% | 0.75% | 0% |
| SEK W (Acc.) (hedged) | SEK | 150,000,000 | 5% | 0.75% | 0% |

| “S” Shares and “T (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Hurdle Rate |
| Euro S | EUR | 5,000,000 | 5% | 0.50% | 0% | 15% | MSCI World Index (with net dividends reinvested) In Euro terms |
| USD S (Acc.) 1 | USD | 5,000,000 | 5% | 0.50% | 0% | 15% | MSCI World Index (with net dividends reinvested) in USD terms |

| “X” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| Sterling X | GBP | None | 0% | 0% | 0% |


#### Performance Fee
In addition to the annual management charge, the Manager will be entitled to an annual performance fee
(the “Performance Fee”) subject to the conditions outlined
below. The rate at which the Performance Fee shall be
applied is set out in the table above. Performance Fees reduce the value of your investment and the investment return you will receive.
The Performance Fee in respect of each relevant Share Class is calculated as the performance fee rate (set out in the table above) of the Share Class Return (as defined below) over the Hurdle Rate Return (as defined below).
The Performance Fee will be calculated in respect of each twelve-month period ending on the 31 December
(the “Calculation Period”). The first Calculation Period will
be the period commencing on the Business Day
immediately following the closing of the Initial Offer Period and ending on 31 December of the same year.
The “Share Class Return” is calculated on each Valuation Day and is the percentage difference between the Adjusted Net Asset Value on such Valuation Day and the
Adjusted Net Asset Value on the previous Valuation Day.
The “Adjusted Net Asset Value” is the Net Asset Value of the relevant share class (which includes an accrual for all fees and expenses including the annual management
charge and the operating and administrative expenses to be borne by the relevant share class, adjusted for any
dividend distributions) but without deduction of any Performance Fee accrued since the start of the Calculation Period.
The “Hurdle Rate” is set out in the table above and is consistent with the investment policy of the Sub-Fund. A hurdle rate is a predetermined level of return a fund
must exceed to earn a performance fee. Past performance of the Sub-Fund against MSCI World NR Index is disclosed in the KIID for the relevant Class of Shares.
The “Hurdle Rate Return” is calculated on each Valuation Day and is the percentage difference between the Hurdle Rate on such Valuation Day and the Hurdle Rate on the
previous Valuation Day.
On each Valuation Day, an Adjusted Net Asset Value is calculated in respect of each share class for which the Performance Fee applies. If the Share Class Return exceeds the Hurdle Rate Return, a Performance Fee is accrued.
If the Share Class Return does not exceed the Hurdle Rate Return, the Performance Fee accrual is reduced (not below zero). The Performance Fee is reduced by an amount calculated as the performance fee percentage (as set out in the table above) of the underperformance of the Share Class Return against the Hurdle Rate Return (the negative return) multiplied by the Shares in issue.
Once the Performance Fee accrual has been reduced to zero, no new Performance Fee is accrued until (i) the
cumulative Share Class Return exceeds the cumulative Hurdle Rate Return since the beginning of the Calculation Period.
Clawback – Following a Calculation Period in which no Performance Fee has been charged, no Performance Fee
will accrue until the cumulative Share Class Return (since the last Valuation Day of the last accounting year in which a Performance Fee was charged) exceeds the cumulative Hurdle Rate Return (since the last Valuation Day of the last accounting year in which a Performance Fee was charged).
If no Performance Fee has been charged since the launch of a share class, no Performance Fee will accrue until such time as the cumulative Share Class Return (since the launch of that share class) exceeds the cumulative Hurdle Rate Return accrued since the launch of that share class.
The Performance Fee accrued on each Valuation Day is reflected in the Net Asset Value per Share on the basis of which subscriptions, redemptions, switches or transfers may be accepted.
Included in the calculation of the Performance Fee shall be net realised and unrealised capital gains plus net realised and unrealised capital losses as at the end of the relevant period. As a result, Performance Fees may be paid on unrealised gains which may subsequently never be realised.
Positive performance may be generated by market movements as well as active portfolio management; this may lead to circumstances where a portion of the Performance Fee is paid based on market movements.
The calculation of the Performance Fee is not open to the possibility of manipulation and shall be verified by the Depositary.
The Performance Fee is calculated and accrued on each Valuation Day and paid yearly in arrears, in respect of each Calculation Period. Any Performance Fee due will generally be paid within 30 Business Days after the end of each Calculation Period, the date of any redemption, the date of a merger (subject to the requirements of the Central Bank), the date of termination of the Management Agreement or such other date on which the Company or the Sub-Fund may be liquidated or cease trading.

##### Examples of how the performance fee will be calculated
Please note the performance fee model allows for performance fees to be charged where the Sub-Fund has outperformed the Hurdle Rate, but overall has negative performance.
| Valuation Day | Adjusted Net Asset Value at end of Calculation Period | Hurdle Rate Return ex- pressed in pence | Excess Return expressed in pence* | Performance Fee** | Net Asset Value at end of Calculation Period | Description of the example |
| --- | --- | --- | --- | --- | --- | --- |
| 31 December (year one) | 105p | 102p | 3p | 0.45p | 104.55p | Performance of the Adjusted Net Asset Value over the Calculation Period resulted in an Adjusted Net Asset Value of 105p at end of year one, which is higher than the Hurdle Rate Return of 102p and the Excess Return of 3p is positive. Therefore, a Performance Fee of 0.45p was paid. |
| 31 December (year two) | 95p | 106p | 0p | 0p | 95p | Performance of the Adjusted Net Asset Value over the Calculation Period resulted in an Adjusted Net Asset Value of 95p at the end of year two, which is lower than the Hurdle Rate Return of 106p. Therefore, no Performance Fee was paid. |
| 31 December (year three) | 104p | 105p | 0p | 0p | 104p | Performance of the Adjusted Net Asset Value over the Calculation Period resulted in an Adjusted Net Asset Value of 104p at end of year three, which is lower than the Hurdle Rate Return of 105p. Therefore, no Performance Fee was paid. |

| Valuation Day | Adjusted Net Asset Value at end of Calculation Period | Hurdle Rate Return ex- pressed in pence | Excess Return expressed in pence* | Performance Fee** | Net Asset Value at end of Calculation Period | Description of the example |
| --- | --- | --- | --- | --- | --- | --- |
| 31 December (year four) | 110p | 108p | 2p | 0.30p | 109.70p | Performance of the Adjusted Net Asset Value over the Calculation Period resulted in an Adjusted Net Asset Value of 110p at end of year four, which is higher than the Hurdle Rate of 108p and the Excess Return of 2p is positive. Therefore, a Performance Fee of 0.30p was paid. |

*Excess Return is the outperformance of the Share Class Return over the Hurdle Rate Return
**15% of Excess Return

#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The objective of the Sub-Fund is to achieve long-term capital appreciation through investing primarily (meaning
at least three-quarters of the Sub-Fund’s total assets) in
a portfolio of equity and equity related securities of
companies located throughout the world.

##### Investment Policy
The Sub-Fund will invest primarily (meaning at least three-quarters of the Sub-Fund’s Net Asset Value) in a portfolio of equity and equity-related securities of
companies located worldwide, the majority of which shall be listed or traded on Eligible Markets. Equity-related securities shall include common and preferred stocks and shares, convertible preference shares and warrants. Investment in warrants are subject to a limit of 10% of the Net Asset Value of the Sub-Fund.
The Sub-Fund may also invest indirectly in global equity securities through instruments such as American Depositary Receipts and Global Depositary Receipts
(collectively “Depositary Receipts”).
While the Investment Manager may allocate the Sub- Fund’s assets without limitation among geographic regions and individual countries based on its analysis of
global economic, political and financial conditions, the Sub-Fund may have significant exposure to certain
markets including the U.S. Up to 20% in value of the Sub- Fund’s Net Asset Value may be invested in equity or equity-related securities of companies located in
emerging market countries. For these purposes, “emerging market countries” will be those countries identified as such for the purposes of the Morgan Stanley
Capital International Emerging Markets Index (an index designed to measure equity market performance in global emerging markets) (including any subsequent amendments or replacement of the index as may be implemented by the index provider). In determining where the issuer of a security is located, the Investment Manager looks at such factors as its country of organisation, the primary trading market for its securities, and the location of its assets, personnel, sales, and earnings.
There is no restriction on market capitalisation in relation to the equity and equity-related securities which the
Sub-Fund may invest in.
Up to one-quarter of the Sub-Fund’s Net Asset Value may also be invested in bonds which may be fixed or floating
rate, government or corporate convertible debt securities and money market instruments (including, but not limited to, commercial paper, government bonds and certificates of deposit) or as cash. The debt securities which the
Sub-Fund may invest in shall be rated investment grade ( i.e. BBB-/Baa3) or above as rated by a Recognised Rating Agency.
The Sub-Fund will not invest more than 10% of its Net Asset Value in collective investment schemes.
The Sub-Fund may invest in FDI for hedging and efficient portfolio management purposes.
In general, the Sub-Fund will be exposed to the currency fluctuations that are incidental to its investment in equity and equity-related securities. While the Investment Manager will not seek to add value by speculating in
currencies, it will generally leave the Sub-Fund’s currency
exposure unhedged. Notwithstanding the foregoing, the
Investment Manager will regularly monitor and review currency exposure and will employ currency hedging when the Investment Manager perceives that currency exposure presents significant risk. Any currency hedging generally will be conducted through American-style OTC currency options that are negotiated with major banks and broker-dealers. American-Style OTC options can be exercised on any business day up to and including the expiry date, unlike European-style OTC options which can only be exercised at expiry. These options will be designed to enable the Sub-Fund to convert the value of equity and equity-related securities into EUR at an
agreed rate on the day that the option contract is entered into.

##### Benchmark
MSCI World NR Index (the “Benchmark”).
The Benchmark is a broad global equity index that is designed to represent the performance of large and mid cap securities across 23 developed markets countries including: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom and the United States of America. The Benchmark covers approximately 85% of the free float- adjusted market capitalisation in each country.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest
outside the Benchmark subject to the investment objective and policy. While the Sub-Fund’s holdings may include constituents of the Benchmark, the selection of
investments and their weightings in the portfolio are not influenced by the Benchmark. The investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.

##### Investment Strategy
The investment strategy of the Sub-Fund is to achieve long-term capital growth through investing primarily in a portfolio of equity and equity-related securities of companies located throughout the world (see Investment Policy for further details).
The investment philosophy and process is consistent with the Investment Manager’s philosophical framework: a long-term investment approach based on rigorous
bottom-up company analysis with the aim of identifying companies with superior wealth generation prospects. This reflects a fundamental belief that, over time, a
portfolio’s investment return never exceeds the wealth
created by the underlying companies. As a result, the focus of the Investment Manager’s research team is to identify those companies with wealth generation capabilities consistent with the portfolio’s investment objective.
The Investment Manager's philosophy is based on detailed fundamental research looking at the growth potential of particular securities over a period of time. Because of the long-term nature of this Sub-Fund, it is expected that the equity and equity-related securities within the portfolio will be purchased with a view to holding them for a period of 3 to 5 years or longer. The portfolio turnover will remain low throughout the life of the Sub-Fund as it is integral to the Investment
Manager’s process as described above. As such, whilst
investors may benefit from short-term gains, the
Investment Manager will not be targeting them specifically.

##### The Sustainable Finance Disclosure Regulation
The management of sustainability risk is fully integrated into the investment process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively impacted by
an ESG event or condition (“ESG Event”).
When researching any company, regardless of geography and sector, the Investment Manager applies the same analytical framework. This framework is both quantitative and qualitative and involves analysis of historical financial records alongside consideration of seven key areas of investigation:
- business activities and physical footprint
- integrity, sustainability and governance
- market characteristics
- control of destiny
- financial profile
- management and board
- valuation and tradingThe Investment Manager’s analysis of integrity, sustainability and governance practices includesassessing and monitoring companies on relevant and material factors across four key areas:
- environmental considerations
- climate risk and climate change
- human and social capital
- governanceThis process allows the Investment Manager to examine every factor that could affect the long-term success of abusiness before investing. As part of the Investment Manager’s ongoing assessment of a company, it is updated, reviewed and discussed annually, allowing theInvestment Manager to monitor progress over time.

While all research is the Investment Manager’s own, it is augmented with information and analysis from external sources, including third-party research providers,
academics and subject matter experts. The Investment Manager’s regular engagement with company management also contributes to its overall assessment
of a company.
As explained above, the management and assessment of sustainability risks is fully integrated into the Investment Manager's investment process, however there may still be a risk that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of
the principal adverse impact consideration regime in Article 4 SFDR, (the “PAI regime”). The Manager is supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Registration in Germany
This Sub-Fund is registered for sale in Germany. The Sub- Fund is classified as an Equity Fund for German tax purposes and as such it will permanently invest more than 50% of its assets in equities as defined in article 2 paragraph 8 of the German Investment Tax Act.

#### Registration in Hong Kong
This Sub-Fund is registered for sale in Hong Kong.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 50% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
In utilising FDI for EPM purposes, the Sub-Fund may gain indirect exposure to financial indices.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. securities lending arrangements and repurchase/reverse repurchase
agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of SFTs shall be 100% of the Net Asset Value of the Sub-
Fund. However, it is not anticipated that the Sub-Fund’s
exposure to the SFTs will exceed 15% of the Net Asset
Value. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1£, 1€, 1CAD, 1AUD, 1CHF, 1SGD, 10HKD, 10CNH, 10DKK, 10NOK,
10SEK or 100 ¥ depending on the currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February. Further details
are set out under the heading “The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Global Real Return Fund (USD)

### SUPPLEMENT 15 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.
- The Sub-Fund may invest substantially in deposits with credit institutions. Although the Sub-Fund may invest in money market instruments and cash deposits, Shares in the Sub-Fund are not deposits and are different in nature to a deposit in that the investment is not guaranteed and the value of the investment is capable of fluctuation. Investment in the Sub-Fund involves certain investment risks, including the possible loss of principal.


#### The Investment Manager
Newton Investment Management Limited

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its investment management functions with respect to this
Sub-Fund to Newton Investment Management North America LLC (the “Sub-Investment Manager”). Details of the Sub-Investment Management Agreement between the
Investment Manager and the Sub-Investment Manager are set out under the heading “Sub-Investment Managers” in the Prospectus.

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| USD A | USD | 5,000 | 5% | 1.50% | 0% | SOFR (30-day compounded) +4% |
| USD A (Inc.) | USD | 5,000 | 5% | 1.50% | 0% | SOFR (30-day compounded) +4% |
| AUD H (Acc.) (hedged) | AUD | 5,000 | 5% | 1.50% | 0% | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 4% |
| CAD H (Acc.) (hedged) | CAD | 5,000 | 5% | 1.50% | 0% | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 4% |
| CNH H (Acc.) (hedged) | CNH | 50,000 | 5% | 1.50% | 0% | 1 Month CNH HIBOR + 4% |
| SGD H (Acc.) (hedged) | SGD | 5,000 | 5% | 1.50% | 0% | 1 Month SGD SIBOR + 4% |

| “G” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| USD G (Acc.) | USD | 5,000 | 5% | 1.00% | 0% | SOFR (30-day compounded) +4% |
| USD G (Inc.) | USD | 5,000 | 5% | 1.00% | 0% | SOFR (30-day compounded) +4% |

| “C” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| USD C | USD | 5,000,000 | 5% | 1.00% | 0% | SOFR (30-day compounded) +4% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 1.00% | 0% | SOFR (30-day compounded) +4% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| USD W | USD | 15,000,000 | 5% | 0.75% | 0% | SOFR (30-day compounded) +4% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.75% | 0% | SOFR (30-day compounded) +4% |
| AUD W (Acc.) (hedged) | AUD | 15,000,000 | 5% | 0.75% | 0% | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 4% |
| CAD W (Inc.) (hedged) | CAD | 15,000,000 | 5% | 0.75% | 0% | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 4% |
| CAD W (Acc.) (hedged) | CAD | 15,000,000 | 5% | 0.75% | 0% | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 4% |
| CNH W (Acc.) (hedged) | CNH | 150,000,000 | 5% | 0.75% | 0% | 1 Month CNH HIBOR + 4% |
| SGD W (Acc.) (hedged) | SGD | 15,000,000 | 5% | 0.75% | 0% | 1 Month SGD SIBOR + 4% |

| “Z (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| CAD Z (Acc.) (hedged) | CAD | 200,000,000 | 5% | 0.65% | 0% | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 4% |
| CAD Z (Inc.) (hedged) | CAD | 200,000,000 | 5% | 0.65% | 0% | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 4% |

| “X” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| USD X | USD | None | 0% | 0% | 0% | SOFR (30-day compounded) +4% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| --- | --- | --- | --- | --- | --- | --- |
| CAD X (Acc.) (hedged) | CAD | None | 0% | 0% | 0% | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 4% |
| CAD X (Inc.) (hedged) | CAD | None | 0% | 0% | 0% | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 4% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The objective of the Sub-Fund is to achieve a total return in excess of a cash benchmark (as described below) over an investment horizon of 3-5 years.

##### Investment Policy
The Sub-Fund will use its ability to invest freely in a wide range of asset classes, aiming to have a reasonably moderate risk exposure at any point in time. The Sub-
Fund is a multi-asset global portfolio. Allocations will be made at the Investment Manager’s discretion, based upon the Investment Manager’s proprietary global investment approach, both within each asset class and
among the asset classes. The Sub-Fund need not be invested in all of the asset classes at any one time.
In general, the Sub-Fund may invest in equities, equity- related securities, debt and debt-related securities, FDI
(including currency related FDI), collective investment schemes (“CIS”), deposits, cash, money market instruments and cash equivalents, each of which is
discussed in more detail below.
In relation to the equity and equity-related securities that the Sub-Fund may invest in, these will be principally, but not limited to common shares, preference shares, securities convertible into or exchangeable for such equities, American Depositary Receipts and Global Depository Receipts listed or traded on Eligible Markets located worldwide.
In relation to the debt and debt-related securities, that the Sub-Fund may invest in, these will be principally, but not limited to international, sovereign, government, supranational agency, corporate, bank and other bonds and other debt and debt-related securities (such as debentures, notes (including corporate, sovereign, floating and fixed rate notes with a minimum term of one year or more) and asset and mortgage-backed securities, each of which may be fixed or floating rate.
The Sub-Fund may invest in investment grade or below investment grade, as determined by a Recognised Rating Agency. Investment in sub-investment grade fixed income securities is not expected to exceed 30% of the Sub-
Fund’s Net Asset Value and will generally be substantially
lower than 30%.
The Sub-Fund may invest up to 10% of its Net Asset Value in CoCos. Please see “Contingent Convertible Securities (CoCos) Risk” in the Prospectus for details of the risks associated with CoCos.
The Sub-Fund may invest up to 10% of its Net Asset Value in Structured Notes.
The Sub-Fund may invest more than 10% and up to 35% of its Net Asset Value in debt securities issued and/or guaranteed by a single sovereign issuer (including its government, public or local authority) which is below investment grade (i.e. BB+ or below) a Recognised Rating Agency. Examples of such sovereign issuers are Brazil, Indonesia and Hungary. Such investments are based on the professional judgement of the Investment Manager, whose reasons for investment may include a favourable/ positive outlook on the sovereign issuer, potential for ratings upgrade and the expected changes in the value of such investments due to the ratings changes. Please note the ratings of sovereign issuers may change from time to time and the abovementioned sovereigns are named only for reference and are subject to change as their ratings change.
In addition, the Sub-Fund will not invest more than 10% of its Net Asset Value in aggregate in CIS.
To provide liquidity and cover for exposures generated through the use of FDI, the majority of the Sub-Fund’s assets may, at any one time, be invested in cash, money
market instruments including, but not limited to, commercial paper, government bonds which may be fixed or floating rate, investment grade or below investment grade (as determined by a Recognised Rating Agency), certificates of deposit and CIS.
The Sub-Fund may invest in commodities, property, renewable energy and infrastructure through a combination of CIS (including open-ended exchange traded funds), equity and equity-related securities (such
as listed real estate investment trusts (“REITS”) and other
closed end listed funds) and fixed income securities
(such as exchange traded notes (including exchange traded commodities and exchange traded certificates)). Any investment in closed-ended listed funds shall constitute an investment in a transferable security in accordance with the requirements of the Central Bank.
The Sub-Fund is not subject to any specific geographic or market sector.
The Sub-Fund may also invest up to 10% of its Net Asset Value in debt and debt-related securities in the People’s Republic of China (“PRC”) traded in the China interbank bond market (“CIBM”) via Bond Connect (as further described Appendix VI to the Prospectus.)
Methods of gaining exposure to Chinese securities may include purchasing China A-shares via the Stock Connect. The Sub-Fund may invest up to 10% of its Net Asset Value in China A-shares via the Stock Connect. Further details about the Stock Connect are set out in Appendix V to the Prospectus.
The Sub-Fund may invest up to 10% of its Net Asset Value in transferable securities not listed or traded on Eligible Markets.

##### Benchmark
SOFR (30-day compounded)+ 4% per annum (the “Cash Benchmark”).
The Sub-Fund uses the Cash Benchmark as a target set for the Sub-Fund’s performance to match or exceed over 5 years before fees.
SOFR (the Secured Overnight Financing Rate) is a broad measure of the cost of borrowing cash overnight collateralised by U.S. Treasuries and is administered by the New York Federal Reserve.
The Sub-Fund is actively managed, which means the Investment Manager has discretion over the selection of investments, subject to the investment objective and policy.

##### Investment Strategy
The investment philosophy is based upon the conviction of the Investment Manager that no company, market or economy can be considered in isolation; each must be understood in a global context. The Investment Manager believes that events occurring around the world influence all financial markets and therefore successful investment in internationally diversified securities requires a thorough understanding of the world as a whole.
The Investment Manager identifies themes which encompass the major areas of change in the world and use these themes as the basis of their investment ideas. This global, thematic approach allows the Investment Manager to gain long-term perspective on global financial
markets and economies and always to consider the ‘big picture’. Perspective is a defining feature of their investment process; it helps them to anticipate how the
world will change and it directs analysts and portfolio managers towards profitable opportunities.
The Global Real Return strategy is an actively managed multi-asset strategy, investing predominantly in
‘conventional’ assets, with the use of FDI to protect
capital or to generate income. The multi-asset targeted
return portfolios are constructed holistically and follow an unconstrained investment approach, with no regional, sector or indices constraints. The Investment Manager customises the investment characteristics that they seek to the changes we see in the investing environment. The
asset allocation of the Sub-Fund may change according to the Investment Manager’s views of fundamental economic and market conditions and investment trends
across the globe, taking into consideration factors such as liquidity, costs, timing of execution, relative attractiveness of individual securities and issuers available in the market.

##### The Sustainable Finance Disclosure Regulation
The consideration of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively impacted by
an ESG event or condition (“ESG Event”).
The Investment Manager has access to a variety of ESG- related data points provided by third party data which assists with the identification of potential ESG-related issues that an issuer may be facing. This includes but is
not limited to exposure to activities that may be deemed
harmful to the environment or society. This data, along with data from the Investment Manager’s own proprietary responsible investment research resources, forms a central part of the Investment Manager’s consideration and assessment of the level of sustainability risk that an
investment may be subject to.
This assessment is integrated in to the security level research process, which is based upon fundamental analysis of individual investment opportunities across a number of different factors including:
- Fundamental financial or economic characteristics
- Valuation
- Risk/reward profile
- The ESG characteristics of the issuer, including understanding how such considerations can impact economic returnsThe information gathered from the fundamental analysis conducted will be taken into account by the Investment Manager in deciding whether to acquire a holding in an issuer or continue to hold a position.

As explained above, the assessment and management of
sustainability risks forms an important part of the Investment Manager’s due diligence process, however, there may still be a risk that the value of the Sub-Fund
could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Currency Futures Government Bond Futures Equity Index Futures Volatility Index Futures Equity Futures |
| --- | --- |

| Options | Equity Options (single name, index, sector custom basket) Low Exercise Price Options (LEPOs) and Low Exercise Price Warrants (LEPWs) Index Options Bond Options Options on Currency Futures Swaptions Options on Volatility Indices Currency Options (including FX Options) Options on Futures |
| --- | --- |
| Swaps | Credit Default Swaps (single name, index and custom basket) Interest Rate Swaps Equity Swaps (single name, index, sector and custom basket) Variance Swaps Total Return Swaps (single name, credit, index and custom basket) Contracts for Difference |
| Forwards | Forward Foreign Exchange Contracts |
| Securities with Embedded FDI/Leverage | Convertible Bonds Contingent Convertible Securities (CoCos) Asset-Backed Securities (ABS) Mortgage-Backed Securities (MBS) Warrants Structured Notes |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. The remaining financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX–Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where additional information can be found, will be set out in the
Company’s semi-annual and annual accounts.
Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial
purpose, are described in the Prospectus in the section entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit iTraxx CDS Index |
| Equity indices to provide exposure to regional and global equity markets in a more cost effective or efficient manner than buying the physical securities. | Borsa Istanbul 30 Dax 30 Index Euro Stoxx 50 Index FTSE 100 Index FTSE All Share Index FTSE World Index Hang Seng Index KOSPI Index MDAX Index MSCI All Countries World Index MSCI Emerging Markets Index Nasdaq Composite Index Nikkei 225 Index Russell 2000 Index S&P/ASX 200 Index S&P/TSX Composite Index S&P 500 Index Stoxx Europe 600 Index Stoxx Europe Small 200 |
| Volatility indices to provide exposure express the Investment Manager’s view on the volatility of a particular market or currency in a more cost effective or efficient manner than buying the physical securities. | Chicago Board Options Exchange SPX Volatility Index |

The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub-Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.

##### Long and Short Positions
The Sub-Fund may employ synthetic long and synthetic short exposures in each of the asset classes referenced in the Investment Policy to achieve its investment objective. The total net long exposure (after taking account of hedging) through FDI is not expected to exceed 100% of the Net Asset Value of the Sub-Fund and the total net short exposure is not expected to exceed 100% of the Net Asset Value of the Sub-Fund (using the commitment approach).

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Absolute VaR
Absolute VaR Limit: Sub-Fund’s portfolio will not exceed 20% of the Net Asset Value (using a 20 Business Day holding period).
Gross leverage is expected to vary between: 0% to 1000% of the Sub-Fund’s Net Asset Value. The gross leverage may exceed this target level at times.
For more information on the Absolute VaR approach and Gross Leverage, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in SFTs, i.e. securities lending arrangements and
repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 100% and in respect of SFTs shall be 100%
of the Net Asset Value of the Sub-Fund. However, it is not anticipated that the Sub-Fund’s exposure in respect of TRS will exceed 30% and in respect of SFTs will
exceed 15% of the Net Asset Value of the Sub-Fund. The types of assets that will be subject to TRS and SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1€, 1CAD, 1AUD, 1SGD, 10HKD or 10CNH depending on the currency
of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will
normally be paid on or before 11 February. Further details are set out under the heading “The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors’ attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Global Real Return Fund (EUR)

### SUPPLEMENT 16 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors
- The Sub-Fund may invest substantially in deposits with credit institutions. Although the Sub-Fund may invest in money market instruments and cash deposits, Shares in the Sub-Fund are not deposits and are different in nature to a deposit in that the investment is not guaranteed and the value of the investment is capable of fluctuation. Investment in the Sub-Fund involves certain investment risks, including the possible loss of principal.


#### The Investment Manager
Newton Investment Management Limited

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its investment management functions with respect to this
Sub-Fund to Newton Investment Management North America LLC (the “Sub-Investment Manager”). Details of the Sub-Investment Management Agreement between the
Investment Manager and the Sub-Investment Manager are set out under the heading “Sub-Investment Managers” in the Prospectus.

#### Base Currency
Euro

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| Euro A | EUR | 5,000 | 5% | 1.50% | 0% | 1 Month EURIBOR + 4% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 1.50% | 0% | 1 Month EURIBOR + 4% |
| Sterling H (Acc.) (hedged) | GBP | 5,000 | 5% | 1.50% | 0% | SONIA (30-day compounded) + 4% |
| CHF H (Acc.) (hedged) | CHF | 5,000 | 5% | 1.50% | 0% | SARON (30-day compounded) + 4% |
| USD H (Acc.) (hedged) | USD | 5,000 | 5% | 1.50% | 0% | SOFR (30-day compounded) + 4% |
| AUD H (Acc.) (hedged) | AUD | 5,000 | 5% | 1.50% | 0% | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 4% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| --- | --- | --- | --- | --- | --- | --- |
| CAD H (Acc.) (hedged) | CAD | 5,000 | 5% | 1.50% | 0% | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 4% |
| HKD H (Acc.) (hedged) | HKD | 50,000 | 5% | 1.50% | 0% | 1 Month HKD HIBOR + 4% |
| CNH H (Acc.) (hedged) | CNH | 50,000 | 5% | 1.50% | 0% | 1 Month CNH HIBOR + 4% |
| SGD H (Acc.) (hedged) | SGD | 5,000 | 5% | 1.50% | 0% | 1 Month SGD SIBOR + 4% |

| “G” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| Euro G (Acc.) | EUR | 5,000 | 5% | 1.00% | 0% | 1 Month EURIBOR + 4% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 1.00% | 0% | 1 Month EURIBOR + 4% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| Euro C | EUR | 5,000,000 | 5% | 1.00% | 0% | 1 Month EURIBOR + 4% |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 1.00% | 0% | 1 Month EURIBOR + 4% |
| CHF I (Acc.) (hedged) | CHF | 5,000,000 | 5% | 1.00% | 0% | SARON (30-day compounded) + 4% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| Euro W | EUR | 15,000,000 | 5% | 0.75% | 0% | 1 Month EURIBOR + 4% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.75% | 0% | 1 Month EURIBOR + 4% |
| USD W (Acc.) (hedged) | USD | 15,000,000 | 5% | 0.75% | 0% | SOFR (30-day compounded) + 4% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.75% | 0% | SONIA (30-day compounded) + 4% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.75% | 0% | SARON (30-day compounded) + 4% |
| AUD W (Acc.) (hedged) | AUD | 15,000,000 | 5% | 0.75% | 0% | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 4% |
| CAD W (Acc.) (hedged) | CAD | 15,000,000 | 5% | 0.75% | 0% | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 4% |
| HKD W (Acc.) (hedged) | HKD | 150,000,000 | 5% | 0.75% | 0% | 1 Month HKD HIBOR + 4% |
| CNH W (Acc.) (hedged) | CNH | 150,000,000 | 5% | 0.75% | 0% | 1 Month CNH HIBOR + 4% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| --- | --- | --- | --- | --- | --- | --- |
| SGD W (Acc.) (hedged) | SGD | 15,000,000 | 5% | 0.75% | 0% | 1 Month SGD SIBOR + 4% |

| “Z” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| Euro Z (Inc.) | EUR | 200,000,000 | 5% | 0.65% | 0% | 1 Month EURIBOR + 4% |
| Euro Z (Acc.) | EUR | 200,000,000 | 5% | 0.65% | 0% | 1 Month EURIBOR + 4% |

| “X” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| Euro X | EUR | None | 0% | 0% | 0% | 1 Month EURIBOR + 4% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The objective of the Sub-Fund is to achieve a total return in excess of a cash benchmark (as described below) over an investment horizon of 3-5 years.

##### Investment Policy
The Sub-Fund will use its ability to invest freely in a wide range of asset classes, aiming to have a reasonably moderate risk exposure at any point in time. The Sub-
Fund is a multi-asset global portfolio. Allocations will be made at the Investment Manager’s discretion, based upon the Investment Manager’s proprietary global investment approach, both within each asset class and
among the asset classes. The Sub-Fund need not be invested in any or all of the asset classes at any one time.
In general, the Sub-Fund may invest in equity, equity- related securities, debt and debt-related securities, FDI
(including currency related FDI), collective investment schemes (“CIS”), deposits, cash, money market instruments and cash equivalents, each of which is
discussed in more detail below.
In relation to the equity and equity-related securities that the Sub-Fund may invest in, these will be principally, but not limited to common shares, preference shares, securities convertible into or exchangeable for such equities, American Depositary Receipts and Global Depository Receipts listed or traded on Eligible Markets located worldwide.
In relation to the debt and debt-related securities that the Sub-Fund may invest in, these will be principally, but not limited to international, sovereign, government, supranational agency, corporate, bank and other bonds and other debt and debt-related securities (such as
debentures, notes (including corporate, sovereign, floating and fixed rate notes with a minimum term of one year or more) and asset and mortgage-backed securities, each of which may be fixed or floating rate.
The Sub-Fund may invest in investment grade or below investment grade, as determined by a Recognised Rating Agency. Investment in sub-investment grade fixed income securities is not expected to exceed 30% of the Sub-
Fund’s Net Asset Value and will generally be substantially
lower than 30%.
The Sub-Fund may invest up to 10% of its Net Asset Value in CoCos. Please see “Contingent Convertible Securities (CoCos) Risk” in the Prospectus for details of the risks associated with CoCos.
The Sub-Fund may invest up to 10% of its Net Asset Value in structured notes.
The Sub-Fund may invest more than 10% and up to 35% of its Net Asset Value in debt securities issued and/or guaranteed by a single sovereign issuer (including its government, public or local authority) which is below investment grade (i.e. BB+ or below) as rated by a Recognised Rating Agency. Examples of such sovereign issuers are Brazil, Indonesia and Hungary. Such investments are based on the professional judgement of the Investment Manager, whose reasons for investment may include a favourable/positive outlook on the sovereign issuer, potential for ratings upgrade and the expected changes in the value of such investments due to the ratings changes. Please note the ratings of sovereign issuers may change from time to time and the abovementioned sovereigns are named only for reference and are subject to change as their ratings change.
In addition, the Sub-Fund will not invest more than 10% of its Net Asset Value in aggregate in CIS.
To provide liquidity and cover for exposures generated through the use of FDI, the majority of the Sub-Fund’s assets may, at any one time, be invested in cash, money
market instruments including, but not limited to, commercial paper, government bonds which may be fixed or floating rate, investment grade or below investment grade (as determined by a Recognised Rating Agency) certificates of deposit and CIS.
The Sub-Fund may invest in commodities, property, renewable energy and infrastructure through a combination of CIS (including open-ended exchange
traded funds), equity and equity-related securities (such as listed real estate investment trusts (“REITS”) and other closed end listed funds) and fixed income securities
(such as exchange traded notes (including exchange traded commodities and exchange traded certificates)). Any investment in closed-ended listed funds shall constitute an investment in a transferable security in accordance with the requirements of the Central Bank. The Sub-Fund may also invest up to 10% of its Net Asset
Value in debt and debt-related securities in the People’s Republic of China (“PRC”) traded in the China interbank bond market (“CIBM”) via Bond Connect (as further described Appendix VI to the Prospectus.)
Methods of gaining exposure to Chinese securities may include purchasing China A-shares via the Stock Connect. The Sub-Fund may invest up to 10% of its Net Asset Value in China A-shares via the Stock Connect. Further details about the Stock Connect are set out in Appendix V to the Prospectus.
The Sub-Fund may invest up to 10% of its Net Asset Value in transferable securities not listed or traded on Eligible Markets.

##### Benchmark
1 Month EURIBOR + 4% per annum (the “Cash Benchmark”).
The Sub-Fund uses the Cash Benchmark as a target set for the Sub-Fund’s performance to match or exceed over 5 years before fees.
EURIBOR is the Euro Interbank Offer Rate and is a reference rate that is constructed from the average interest rate at which Eurozone banks offer unsecured short-term lending on the inter-bank market.
The Sub-Fund is actively managed, which means the Investment Manager has discretion over the selection of investments, subject to the investment objective and policy.

##### Investment Strategy
The investment philosophy of the Investment Manager is based upon the conviction that no company, market or economy can be considered in isolation; each must be understood in a global context. The Investment Manager believes that events occurring around the world influence all financial markets and therefore successful investment in internationally diversified securities requires a thorough understanding of the world as a whole.
The Investment Manager identifies themes which encompass the major areas of change in the world and use these themes as the basis of their investment ideas. This global, thematic approach allows the Investment
Manager to gain long-term perspective on global financial markets and economies and always to consider the ‘big picture’. Perspective is a defining feature of their
investment process; it helps them to anticipate how the world will change and it directs analysts and portfolio managers towards profitable opportunities.
The Global Real Return strategy is an actively managed multi-asset strategy, investing predominantly in
‘conventional’ assets, with the use of FDI to protect
capital or to generate income. The multi-asset targeted
return portfolios are constructed holistically and follow an unconstrained investment approach, with no regional, sector or indices constraints. The Investment Manger customises the investment characteristics that they seek to the changes they see in the investing environment. The asset allocation of the Sub-Fund may change according
to the Investment Manager’s views of fundamental
economic and market conditions and investment trends
across the globe, taking into consideration factors such as liquidity, costs, timing of execution, relative attractiveness of individual securities and issuers available in the market.

##### The Sustainable Finance Disclosure Regulation
The consideration of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively impacted by
an ESG event or condition (“ESG Event”).
The Investment Manager has access to a variety of ESG- related data points provided by third party data which assists with the identification of potential ESG-related issues that an issuer may be facing. This includes but is not limited to exposure to activities that may be deemed
harmful to the environment or society. This data, along with data from the Investment Manager’s own proprietary responsible investment research resources, forms a central part of the Investment Manager’s consideration and assessment of the level of sustainability risk that an
investment may be subject to.
This assessment is integrated in to the security level research process, which is based upon fundamental analysis of individual investment opportunities across a number of different factors including:
- Fundamental financial or economic characteristics
- Valuation
- Risk/reward profile
- The ESG characteristics of the issuer, including understanding how such considerations can impact economic returnsThe information gathered from the fundamental analysis conducted will be taken into account by the Investment Manager in deciding whether to acquire a holding in an issuer or continue to hold a position.

As explained above, the assessment and management of
sustainability risks forms an important part of the Investment Manager’s due diligence process, however, there may still be a risk that the value of the Sub-Fund
could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of
the principal adverse impact consideration regime in Article 4 SFDR, (the “PAI regime”). The Manager is supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Currency Futures Government Bond Futures Equity Index Futures Volatility Index Futures Equity Futures |
| --- | --- |
| Options | Equity Options (single name, index, sector custom basket) Low Exercise Price Options (LEPOs) and Low Exercise Price Warrants (LEPWs) Index Options Bond Options Options on Currency Futures Swaptions Options on Volatility Indices Currency Options (including FX Options) Options on Futures |
| Swaps | Credit Default Swaps (single name, index and custom basket) Interest Rate Swaps Equity Swaps (single name, index, sector and custom basket) Variance Swaps Total Return Swaps (single name, credit, index and custom basket) Contracts for Difference |
| Forwards | Forward Foreign Exchange Contracts |
| Securities with Embedded FDI/Leverage | Convertible Bonds Contingent Convertible Securities (CoCos) Asset-Backed Securities (ABS) Mortgage-Backed Securities (MBS) Warrants Structured Notes |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub- Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit iTraxx CDS Index |
| Equity indices to provide exposure to regional and global equity markets in a more cost effective or efficient manner than buying the physical securities. | Borsa Istanbul 30 Dax 30 Index Euro Stoxx 50 Index FTSE 100 Index FTSE All Share Index FTSE World Index Hang Seng Index KOSPI Index MDAX Index MSCI All Countries World Index MSCI Emerging Markets Index Nasdaq Composite Index Nikkei 225 Index Russell 2000 Index S&P/ASX 200 Index S&P/TSX Composite Index S&P 500 Index Stoxx Europe 600 Index Stoxx Europe Small 200 |
| Volatility indices to provide exposure express the Investment Manager’s view on the volatility of a particular market or currency in a more cost effective or efficient manner than buying the physical securities. | Chicago Board Options Exchange SPX Volatility Index |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. The remaining financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX–Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where additional information can be found, will be set out in the
Company’s semi-annual and annual accounts.

##### Long and Short Positions
The Sub-Fund may employ synthetic long and synthetic short exposures in each of the asset classes referenced in the Investment Policy to achieve its investment objective. The total net long exposure (after taking account of hedging) through FDI is not expected to exceed 100% of the Net Asset Value of the Sub-Fund and the total net short exposure is not expected to exceed 100% of the Net Asset Value of the Sub-Fund (using the commitment approach).

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Absolute VaR
Absolute VaR Limit: Sub-Fund’s portfolio will not exceed 20% of the Net Asset Value (using a 20 Business Day holding period).
Gross leverage is expected to vary between: 0% to 1000% of the Sub-Fund’s Net Asset Value. The gross leverage may exceed this target level at times.
For more information on the Absolute VaR approach and Gross Leverage, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in SFTs, i.e. securities lending arrangements and
repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 100% and in respect of SFTs shall be 100% of the Net Asset Value of the Sub-Fund. However, it is
not anticipated that the Sub-Fund’s exposure in respect
of TRS will exceed 30% and in respect of SFTs will
exceed 15% of the Net Asset Value of the Sub-Fund. The types of assets that will be subject to TRS and SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1€, 1USD, 1GBP, 1CAD, 1AUD, 1CHF, 1SGD, 10HKD or 10CNH depending on
the currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will
normally be paid on or before 11 February. Further details are set out under the heading “The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors’ attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Global Equity Income Fund

### SUPPLEMENT 17 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. The use of FDI for investment purposes will not be extensive. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- The Sub-Fund’s Net Asset Value may have a high level of volatility due to its investment policy.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.
- It is proposed to charge the fees and expenses of the Sub-Fund to the capital of the Sub-Fund to seek to maximise distributions. See “Fees and Expenses” in the Prospectus for further details.


#### The Investment Manager
Newton Investment Management Limited

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro A | EUR | 5,000 | 5% | 2.00% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 2.00% | 0% |
| USD A | USD | 5,000 | 5% | 2.00% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 2.00% | 0% |
| Sterling A (Acc.) | GBP | 5,000 | 5% | 2.00% | 0% |
| Sterling A (Inc.) | GBP | 5,000 | 5% | 2.00% | 0% |
| Euro H (hedged) | EUR | 5,000 | 5% | 2.00% | 0% |
| Euro H (Inc.) (hedged) | EUR | 5,000 | 5% | 2.00% | 0% |

| “B” Shares and “J (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro B | EUR | 10,000 | 5% | 1.50% | 0% |
| Euro B (Inc.) | EUR | 10,000 | 5% | 1.50% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| USD B | USD | 10,000 | 5% | 1.50% | 0% |
| USD B (Inc.) | USD | 10,000 | 5% | 1.50% | 0% |
| Sterling B (Acc.) | GBP | 10,000 | 5% | 1.50% | 0% |
| Sterling B (Inc.) | GBP | 10,000 | 5% | 1.50% | 0% |
| AUD B (Acc.) | AUD | 10,000 | 5% | 1.50% | 0% |
| AUD B (Inc.) | AUD | 10,000 | 5% | 1.50% | 0% |
| CAD B (Acc.) | CAD | 10,000 | 5% | 1.50% | 0% |
| CAD B (Inc.) | CAD | 10,000 | 5% | 1.50% | 0% |
| HKD B (Acc.) | HKD | 100,000 | 5% | 1.50% | 0% |
| HKD B (Inc.) | HKD | 100,000 | 5% | 1.50% | 0% |
| CNH B (Acc.) | CNH | 100,000 | 5% | 1.50% | 0% |
| CNH B (Inc.) | CNH | 100,000 | 5% | 1.50% | 0% |
| SGD B (Acc.) | SGD | 10,000 | 5% | 1.50% | 0% |
| SGD B (Inc.) | SGD | 10,000 | 5% | 1.50% | 0% |
| Euro J (Acc.) (hedged) | EUR | 10,000 | 5% | 1.50% | 0% |
| Euro J (Inc.) (hedged) | EUR | 10,000 | 5% | 1.50% | 0% |
| SGD J (Acc.) (hedged) | SGD | 10,000 | 5% | 1.50% | 0% |
| SGD J (Inc.) (hedged) | SGD | 10,000 | 5% | 1.50% | 0% |
| AUD J (Acc.) (hedged) | AUD | 10,000 | 5% | 1.50% | 0% |
| AUD J (Inc.) (hedged) | AUD | 10,000 | 5% | 1.50% | 0% |
| CAD J (Acc.) (hedged) | CAD | 10,000 | 5% | 1.50% | 0% |
| CAD J (Inc.) (hedged) | CAD | 10,000 | 5% | 1.50% | 0% |
| CNH J (Acc.) (hedged) | CNH | 100,000 | 5% | 1.50% | 0% |
| CNH J (Inc.) (hedged) | CNH | 100,000 | 5% | 1.50% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 1.00% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 1.00% | 0% |
| Euro G (Acc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Acc.) | GBP | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Inc.) | GBP | 5,000 | 5% | 1.00% | 0% |
| Euro G (Acc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro C | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| USD C | USD | 5,000,000 | 5% | 1.00% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Acc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Inc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| Sterling I (Acc.) (hedged) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Sterling I (Inc.) (hedged) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| SGD I (Acc.) (hedged) | SGD | 5,000,000 | 5% | 1.00% | 0% |
| SGD I (Inc.) (hedged) | SGD | 5,000,000 | 5% | 1.00% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro W | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| USD W | USD | 15,000,000 | 5% | 0.75% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Acc.) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Inc.) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| HKD W (Inc.) | HKD | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| SGD W (Acc.) (hedged) | SGD | 15,000,000 | 5% | 0.75% | 0% |
| SGD W (Inc.) (hedged) | SGD | 15,000,000 | 5% | 0.75% | 0% |
| AUD W (Inc.) (hedged) | AUD | 15,000,000 | 5% | 0.75% | 0% |
| CAD W (Inc.) (hedged) | CAD | 15,000,000 | 5% | 0.75% | 0% |
| CNH W (Inc.) (hedged) | CNH | 150,000,000 | 5% | 0.75% | 0% |

| “Z” Shares and “Z (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro Z (Inc.) | EUR | 200,000,000 | 5% | 0.65% | 0% |
| Euro Z (Acc.) | EUR | 200,000,000 | 5% | 0.65% | 0% |
| Euro Z (Acc.) (hedged) | EUR | 200,000,000 | 5% | 0.65% | 0% |
| USD Z (Inc.) | USD | 200,000,000 | 5% | 0.65% | 0% |
| USD Z (Acc.) | USD | 200,000,000 | 5% | 0.65% | 0% |
| Sterling Z (Inc.) | GBP | 200,000,000 | 5% | 0.65% | 0% |
| Sterling Z (Acc.) | GBP | 200,000,000 | 5% | 0.65% | 0% |

| “X” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) | EUR | None | 0% | 0% | 0% |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| CAD X (Acc.) | CAD | None | 0% | 0% | 0% |
| JPY X (Acc.) | JPY | None | 0% | 0% | 0% |
| JPY X (Inc.) | JPY | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The objective of the Sub-Fund is to aim to generate annual distributions and to achieve long-term capital growth by investing predominantly in equity and equity- related global securities.

##### Investment Policy
The Sub-Fund will invest primarily, meaning at least three-quarters of the Sub-Fund’s Net Asset Value in a portfolio of equity and equity-related securities including
but not limited to, convertible preference shares, warrants (up to 10% of the Sub-Fund’s Net Asset Value) and convertible bonds (up to 10% of the Sub-Fund’s Net Asset Value and which are not rated by any Recognised
Rating Agency) of companies located worldwide which are listed or traded on Eligible Markets.
Stock selection focuses on companies which have strong fundamentals, are attractively valued and meet the
Investment Manager’s yield criteria in light of the
investment objective of the Sub-Fund to aim to achieve
annual distributions together with long-term capital growth.
The Sub-Fund will utilise techniques and FDI for investment purposes as set out below in the section “Use of FDI” and to protect against foreign exchange rate risks as set out in the section below entitled “Efficient Portfolio Management”.
The Sub-Fund invests on a global basis and while its investments are not required to be confined or concentrated in any particular geographic region or market, the Sub-Fund may have significant exposure to certain markets including the U.S. There is also no restriction on market capitalisation in relation to the equity and equity-related securities which the Sub-Fund may invest in.
Methods of gaining exposure to Chinese securities may include purchasing China A-shares via the Stock Connect. The Sub-Fund may invest up to 10% of its Net Asset Value in China A-shares via the Stock Connect. Further details about the Stock Connect are set out in Appendix V to the Prospectus.
The Sub-Fund may invest up to 10% of its Net Asset Value in equity securities listed or traded on the Moscow Exchange.
In addition, the Sub-Fund will not invest more than 10% of its Net Asset Value in aggregate in collective
investment schemes (“CIS”). Investment in CIS may be
used for cash management purposes or to give exposure
to the equity and equity-related securities listed in the investment policy above.

##### Benchmark
FTSE World TR Index (the “Benchmark”).
The Benchmark is a market -capitalisation weighted index representing the performance of the large and mid cap stocks from the Developed and Advanced Emerging segments of the FTSE Global Equity Index Series and covers 90-95% of the investable market capitalisation. The Benchmark is suitable as the basis for investment products, such as funds, FDI and exchange traded funds.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest outside the Benchmark subject to the investment
objective and policy. While the Sub-Fund’s holdings may
include constituents of the Benchmark, the selection of
investments and their weightings in the portfolio are not influenced by the Benchmark. The investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.

##### Investment Strategy
The investment philosophy is based upon the conviction of the Investment Manager that no company, market or economy can be considered in isolation; each must be understood in a global context. The Investment Manager believes that events occurring around the world influence all financial markets and therefore successful investment in higher-income global equities requires a thorough understanding of the world as a whole.
The Investment Manager identifies themes which encompass the major areas of change in the world and uses these themes as the basis for investment ideas. This global and thematic approach allows the Investment Manager to gain long-term perspective on global financial
markets and economies and to consider the ‘big picture’.
Perspective is a defining feature of their investment
process as it helps them to anticipate how the world will change and directs analysts and portfolio managers towards potentially profitable opportunities.
The global equity income portfolios are constructed holistically using the research-driven/’bottom-up’ investment process of the Investment Manager. This
approach concentrates on investing in attractively valued stocks of companies with good prospects and strong fundamentals. The global equity income strategy has an inherent style bias; every holding in a global equity income portfolio has to yield at least 25% more than the Benchmark at the point of purchase. Any holding whose prospective yield falls below the comparative index yield is sold. The most attractive stocks for this strategy tend to be those of good quality, cash-generative companies with reliable dividend yields.

##### The Sustainable Finance Disclosure Regulation
The consideration of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying
investments could be materially negatively impacted by an ESG event or condition (“ESG Event”).
The Investment Manager has access to a variety of ESG- related data points provided by third party data which assists with the identification of potential ESG-related issues that an issuer may be facing. This includes but is not limited to exposure to activities that may be deemed
harmful to the environment or society. This data, along with data from the Investment Manager’s own proprietary responsible investment research resources, forms a central part of the Investment Manager’s consideration and assessment of the level of sustainability risk that an
investment may be subject to.
This assessment is integrated in to the security level research process, which is based upon fundamental analysis of individual investment opportunities across a number of different factors including:
- Fundamental financial or economic characteristics
- Valuation
- Risk/reward profile
- The ESG characteristics of the issuer, including understanding how such considerations can impact economic returnsThe information gathered from the fundamental analysis conducted will be taken into account by the Investment Manager in deciding whether to acquire a holding in an issuer or continue to hold a position.

As explained above, the assessment and management of sustainability risks forms an important part of the
Investment Manager’s due diligence process, however,
there may still be a risk that the value of the Sub-Fund
could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
| Futures | Equity Futures Equity Index Futures Currency Futures |
| --- | --- |
| Options | Options on Currency Futures Currency Options (including FX Options) Warrants Equity Options (single name, index, sector, custom basket) Covered Call Options Options on Equity Futures (single name, index, sector, custom basket) |
| Forwards (de- liverable and non-deliver- able) | Forward Foreign Exchange Contracts |
| Securities with Embedded FDI/Leverage | Convertible Bonds Convertible Preference Shares |

The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial
purpose, are described in the Prospectus in the section entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub-Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Equity indices to provide | Dax 30 Index |
| exposure to regional and global | Euro Stoxx 50 Index |
| equity markets in a more cost | FTSE 100 Index |
| effective or efficient manner | FTSE All Share Index |
| than buying the physical | FTSE World Index |
| securities. | Hang Seng Index |
|  | KOSPI Index |
|  | MSCI All Countries World Index |
|  | MSCI Emerging Markets Index |
|  | Nasdaq Composite Index |
|  | Nikkei 225 Index |
|  | Russell 2000 Index |
|  | S&P/ASX 200 Index |
|  | S&P/TSX Composite Index |
|  | S&P 500 Index |
|  | Stoxx Europe 600 Index |

These financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where
additional information can be found, will be set out in the Company’s semi-annual and annual accounts.

#### Registration in Germany
This Sub-Fund is registered for sale in Germany. The Sub- Fund is classified as an Equity Fund for German tax purposes and as such it will permanently invest more than 50% of its assets in equities as defined in article 2 paragraph 8 of the German Investment Tax Act.

#### Registration in Hong Kong
This Sub-Fund is registered for sale in Hong Kong.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 50% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. securities lending
arrangements and repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of SFTs shall be 100% of the Net Asset Value of the Sub-
Fund. However, it is not anticipated that the Sub-Fund’s
exposure to the SFTs will exceed 15% of the Net Asset
Value. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1£, 1€, 1CAD, 1AUD, 1SGD, 10HKD, 10CNH or 100¥ depending on
the currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11 November respectively. Further details are set out under
the heading "The Company - Distribution Policy” in the
Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Global Dynamic Bond Fund

### SUPPLEMENT 18 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. The use of FDI for investment purposes will not be extensive. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
Newton Investment Management Limited

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its investment management functions with respect to this
Sub-Fund to Newton Investment Management North America LLC (the “Sub-Investment Manager”). Details of the Sub-Investment Management Agreement between the
Investment Manager and the Sub-Investment Manager are set out under the heading “Sub-Investment Managers” in the Prospectus.

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| USD A | USD | 5,000 | 5% | 1.25% | 0% | SOFR (30-day compounded) + 2% |
| USD A (Inc.) | USD | 5,000 | 5% | 1.25% | 0% | SOFR (30-day compounded) + 2% |
| Euro A | EUR | 5,000 | 5% | 1.25% | 0% | 1 Month EURIBOR + 2% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 1.25% | 0% | 1 Month EURIBOR + 2% |
| Sterling A (Acc.) | GBP | 5,000 | 5% | 1.25% | 0% | SONIA (30-day compounded) + 2% |
| Sterling A (Inc.) | GBP | 5,000 | 5% | 1.25% | 0% | SONIA (30-day compounded) + 2% |
| CAD A (Acc.) | CAD | 5,000 | 5% | 1.25% | 0% | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 2% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| --- | --- | --- | --- | --- | --- | --- |
| CAD A (Inc.) | CAD | 5,000 | 5% | 1.25% | 0% | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 2% |
| AUD A (Acc.) | AUD | 5,000 | 5% | 1.25% | 0% | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 2% |
| AUD A (Inc.) | AUD | 5,000 | 5% | 1.25% | 0% | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 2% |
| HKD A (Acc.) | HKD | 50,000 | 5% | 1.25% | 0% | 1 Month HKD HIBOR + 2% |
| HKD A (Inc.) | HKD | 50,000 | 5% | 1.25% | 0% | 1 Month HKD HIBOR + 2% |
| CNH A (Acc.) | CNH | 50,000 | 5% | 1.25% | 0% | 1 Month CNH HIBOR + 2% |
| CNH A (Inc.) | CNH | 50,000 | 5% | 1.25% | 0% | 1 Month CNH HIBOR + 2% |
| SGD A (Acc.) | SGD | 5,000 | 5% | 1.25% | 0% | 1 Month SGD SIBOR + 2% |
| SGD A (Inc.) | SGD | 5,000 | 5% | 1.25% | 0% | 1 Month SGD SIBOR + 2% |
| Euro H (hedged) | EUR | 5,000 | 5% | 1.25% | 0% | 1 Month EURIBOR + 2% |
| Euro H (Inc.) (hedged) | EUR | 5,000 | 5% | 1.25% | 0% | 1 Month EURIBOR + 2% |
| CHF H (Acc.) (hedged) | CHF | 5,000 | 5% | 1.25% | 0% | SARON (30-day compounded) + 2% |
| CAD H (Acc.) (hedged) | CAD | 5,000 | 5% | 1.25% | 0% | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 2% |
| CAD H (Inc.) (hedged) | CAD | 5,000 | 5% | 1.25% | 0% | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 2% |
| SGD H (Acc.) (hedged) | SGD | 5,000 | 5% | 1.25% | 0% | 1 Month SGD SIBOR + 2% |
| SGD H (Inc.) (hedged) | SGD | 5,000 | 5% | 1.25% | 0% | 1 Month SGD SIBOR + 2% |
| AUD H (Acc.) (hedged) | AUD | 5,000 | 5% | 1.25% | 0% | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 2% |
| AUD H (Inc.) (hedged) | AUD | 5,000 | 5% | 1.25% | 0% | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 2% |
| CNH H (Acc.) (hedged) | CNH | 50,000 | 5% | 1.25% | 0% | 1 Month CNH HIBOR + 2% |
| CNH H (Inc.) (hedged) | CNH | 50,000 | 5% | 1.25% | 0% | 1 Month CNH HIBOR + 2% |
| DKK H (Acc.) (hedged) | DKK | 50,000 | 5% | 1.25% | 0% | 1 Month DKK LIBOR + 2% |
| NOK H (Acc.) (hedged) | NOK | 50,000 | 5% | 1.25% | 0% | 1 Month NOK LIBOR + 2% |
| SEK H (Acc.) (hedged) | SEK | 50,000 | 5% | 1.25% | 0% | 1 Month SEK LIBOR + 2% |

| “G” Shares and “G” (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| USD G (Acc.) | USD | 5,000 | 5% | 0.75% | 0% | SOFR (30-day compounded) + 2% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| --- | --- | --- | --- | --- | --- | --- |
| USD G (Inc.) | USD | 5,000 | 5% | 0.75% | 0% | SOFR (30-day compounded) + 2% |
| Euro G (Acc.) | EUR | 5,000 | 5% | 0.75% | 0% | 1 Month EURIBOR + 2% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 0.75% | 0% | 1 Month EURIBOR + 2% |
| Euro G (Acc.) (hedged) | EUR | 5,000 | 5% | 0.75% | 0% | 1 Month EURIBOR + 2% |
| Euro G (Inc.) (hedged) | EUR | 5,000 | 5% | 0.75% | 0% | 1 Month EURIBOR + 2% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| USD C | USD | 5,000,000 | 5% | 0.75% | 0% | SOFR (30-day compounded) + 2% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 0.75% | 0% | SOFR (30-day compounded) + 2% |
| Euro C (Acc.) | EUR | 5,000,000 | 5% | 0.75% | 0% | 1 Month EURIBOR + 2% |
| Sterling C (Inc.) | GBP | 5,000,000 | 5% | 0.75% | 0% | SONIA (30-day compounded) + 2% |
| Sterling C (Acc.) | GBP | 5,000,000 | 5% | 0.75% | 0% | SONIA (30-day compounded) + 2% |
| CHF C (Acc.) (hedged) | CHF | 5,000,000 | 5% | 0.75% | 0% | SARON (30-day compounded) + 2% |
| Euro I (hedged) | EUR | 5,000,000 | 5% | 0.75% | 0% | 1 Month EURIBOR + 2% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 0.75% | 0% | 1 Month EURIBOR + 2% |
| SGD I (Acc.) (hedged) | SGD | 5,000,000 | 5% | 0.75% | 0% | 1 Month SGD SIBOR + 2% |
| SGD I (Inc.) (hedged) | SGD | 5,000,000 | 5% | 0.75% | 0% | 1 Month SGD SIBOR + 2% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| USD W | USD | 15,000,000 | 5% | 0.50% | 0% | SOFR (30-day compounded) + 2% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.50% | 0% | SOFR (30-day compounded) + 2% |
| HKD W (Inc.) | HKD | 150,000,000 | 5% | 0.50% | 0% | 1 Month HKD HIBOR + 2% |
| Euro W (hedged) | EUR | 15,000,000 | 5% | 0.50% | 0% | 1 Month EURIBOR + 2% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.50% | 0% | 1 Month EURIBOR + 2% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.50% | 0% | SONIA (30-day compounded + 2% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.50% | 0% | SONIA (30-day compounded + 2% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.50% | 0% | SARON (30-day compounded + 2% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| --- | --- | --- | --- | --- | --- | --- |
| CAD W (Inc.) (hedged) | CAD | 15,000,000 | 5% | 0.50% | 0% | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 2% |
| SGD W (Acc.) (hedged) | SGD | 15,000,000 | 5% | 0.50% | 0% | 1 Month SGD SIBOR + 2% |
| SGD W (Inc.) (hedged) | SGD | 15,000,000 | 5% | 0.50% | 0% | 1 Month SGD SIBOR + 2% |
| AUD W (Inc.) (hedged) | AUD | 15,000,000 | 5% | 0.50% | 0% | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 2% |
| CNH W (Inc.) (hedged) | CNH | 150,000,000 | 5% | 0.50% | 0% | 1 Month CNH HIBOR + 2% |
| DKK W (Acc.) (hedged) | DKK | 150,000,000 | 5% | 0.50% | 0% | 1 Month DKK LIBOR + 2% |
| NOK W (Acc.) (hedged) | NOK | 150,000,000 | 5% | 0.50% | 0% | 1 Month NOK LIBOR + 2% |
| SEK W (Acc.) (hedged) | SEK | 150,000,000 | 5% | 0.50% | 0% | 1 Month SEK LIBOR + 2% |
| JPY W (Acc.) (hedged) | JPY | 1,500,000,000 | 5% | 0.50% | 0% | TONAR (30-day compounded) + 2% |
| JPY W (Inc.) (hedged) | JPY | 1,500,000,000 | 5% | 0.50% | 0% | TONAR (30-day compounded) + 2% |

| “Z” Shares and “Z (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| Sterling Z (Acc.) | GBP | 200,000,000 | 5% | 0.35% | 0% | SONIA (30-day compounded) + 2% |
| Sterling Z (Inc.) | GBP | 200,000,000 | 5% | 0.35% | 0% | SONIA (30-day compounded) + 2% |
| Sterling Z (Acc.) (hedged) | GBP | 200,000,000 | 5% | 0.35% | 0% | SONIA (30-day compounded) + 2% |
| Sterling Z (Inc.) (hedged) | GBP | 200,000,000 | 5% | 0.35% | 0% | SONIA (30-day compounded) + 2% |
| USD Z (Acc.) | USD | 200,000,000 | 5% | 0.35% | 0% | SOFR (30-day compounded) + 2% |
| USD Z (Inc.) | USD | 200,000,000 | 5% | 0.35% | 0% | SOFR (30-day compounded) + 2% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| USD X (Acc.) | USD | None | 0% | 0% | 0% | SOFR (30-day compounded) + 2% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% | SOFR (30-day compounded) + 2% |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% | 1 Month EURIBOR + 2% |
| Sterling X (Acc.) | GBP | None | 0% | 0% | 0% | SONIA (30-day compounded) + 2% |
| CHF X (Acc.) (hedged) | CHF | None | 0% | 0% | 0% | SARON (30-day compounded) + 2% |
| JPY X (Acc.) (hedged) | JPY | None | 0% | 0% | 0% | TONAR (30-day compounded) + 2% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| --- | --- | --- | --- | --- | --- | --- |
| JPY X (Inc.) (hedged) | JPY | None | 0% | 0% | 0% | TONAR (30-day compounded) + 2% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The objective of the Sub-Fund is to maximize the total return from income and capital growth by investment primarily (meaning at least three-quarters of the Sub-
Fund’s total assets) in a globally diversified portfolio of
predominantly corporate and government fixed interest
securities.

##### Investment Policy
The Sub-Fund will primarily invest at least three-quarters of the Sub-Fund’s Net Asset Value, in a portfolio of either fixed or floating rate, international, emerging market,
sovereign, government, supranational agency, corporate and bank bonds (including mortgage and corporate bonds) and other debt and debt-related securities (such as debentures, notes (including corporate, sovereign, floating and fixed rate notes), asset and mortgage- backed securities, certificates of deposit and commercial paper listed or traded on Eligible Markets located worldwide.
The Sub-Fund may invest up to 10% of its Net Asset Value in CoCos. Please see “Contingent Convertible Securities (CoCos) Risk” in the Prospectus for details of the risks associated with CoCos.
The minimum credit rating of the debt and debt-related instruments in which the Sub-Fund may invest at time of purchase is CCC-/Caa3 (or its equivalent), as rated by a Recognised Rating Agency. In the case of a split rating, the highest rating will be considered. If an instrument is unrated, it must be of equivalent quality as determined by the Investment Manager.
Therefore the Sub-Fund may invest in predominantly sub- investment grade corporate and government fixed interest securities. There are no limits with regard to the maximum maturity of the securities.
The Sub-Fund may also invest in FDI as set out under the heading “Use of FDI” below.
The Sub-Fund may also invest up to 10% of its Net Asset Value in collective investment schemes (“CIS”).
Investment in CIS may be used for cash management
purposes by investment in money market funds or to give exposure to bonds and other securities listed above.
The Sub-Fund may also invest in exchange traded funds (“ETFs”) which will be listed on Eligible Markets and give exposure to bond markets Any investment in open-ended
ETFs will be in accordance with the investment limits for CIS and any investment in closed-ended ETFs will be in accordance with the investment limits for transferable
securities, as set out under the heading “The Company - Investment and Borrowing Restrictions” in the Prospectus.
There is no formal limit on the duration of the Sub-Fund.
The Sub-Fund may invest more than 10% and up to 35% of its Net Asset Value in debt securities issued and/or guaranteed by a single sovereign issuer (including its government, public or local authority) which is below investment grade (i.e. BB+ or below) as rated by Recognised Rating Agency. Examples of such sovereign issuers are Brazil, Indonesia and Hungary. Such investments are based on the professional judgement of the Investment Manager, whose reasons for investment may include a favourable/positive outlook on the sovereign issuer, potential for ratings upgrade and the expected changes in the value of such investments due to the ratings changes. Please note the ratings of sovereign issuers may change from time to time and the abovementioned sovereigns are named only for reference and are subject to change as their ratings change.
The Sub-Fund may invest up to 10% of its Net Asset Value in securities listed or traded on Russian markets. Any such investment will only be made on Eligible Markets included in Appendix II to the Prospectus.
The Sub-Fund may also invest up to 10% of its Net Asset Value in debt and debt-related securities in the People’s Republic of China (“PRC”) traded in the China interbank bond market (“CIBM”) via Bond Connect (as further described Appendix VI to the Prospectus.)

##### Benchmark
SOFR (30-day compounded) + 2% per annum (the “Cash Benchmark”).
SOFR (the Secured Overnight Financing Rate) is a broad measure of the cost of borrowing cash overnight collateralised by U.S. Treasuries and is administered by the New York Federal Reserve.
The Sub-Fund uses the Cash Benchmark as a target set for the Sub-Fund’s performance to match or exceed over 5 years before fees.
The Sub-Fund is actively managed, which means the Investment Manager has discretion over the selection of investments, subject to the investment objective and policy.

##### Investment Strategy
The investment philosophy is based upon the conviction of the Investment Manager that no company, market or economy can be considered in isolation; each must be understood in a global context. The Investment Manager believes that events occurring around the world influence all financial markets and that successful investment in global bonds requires therefore a thorough understanding of the world as a whole.
The Investment Manager identifies themes which encompass the major areas of change in the world and uses these themes as the basis of their investment ideas. This global, thematic approach allows the Investment User to gain long-term perspective on global financial
markets and economies and always to consider the ‘big picture’. Perspective is a defining feature of their
investment process; it helps them to anticipate how the world will change and it directs analysts and portfolio managers towards profitable opportunities.
The Investment Manager’s global dynamic bond strategy invests in a diversified range of fixed-interest securities.
The portfolio managers identify the themes acting upon bond and currency markets, select assets that will benefit from these themes and invest in these assets to generate positive returns.

##### The Sustainable Finance Disclosure Regulation
The consideration of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying
investments could be materially negatively impacted by an ESG event or condition (“ESG Event”).
The Investment Manager has access to a variety of ESG- related data points provided by third party data which assists with the identification of potential ESG-related issues that an issuer may be facing. This includes but is not limited to exposure to activities that may be deemed
harmful to the environment or society. This data, along with data from the Investment Manager’s own proprietary responsible investment research resources, forms a central part of the Investment Manager’s consideration and assessment of the level of sustainability risk that an
investment may be subject to.
This assessment is integrated in to the security level research process, which is based upon fundamental analysis of individual investment opportunities across a number of different factors including:
- Fundamental financial or economic characteristics
- Valuation
- Risk/reward profile
- The ESG characteristics of the issuer, including understanding how such considerations can impact economic returnsThe information gathered from the fundamental analysis conducted will be taken into account by the Investment Manager in deciding whether to acquire a holding in an issuer or continue to hold a position.

As explained above, the assessment and management of
sustainability risks forms an important part of the Investment Manager’s due diligence process, however, there may still be a risk that the value of the Sub-Fund
could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that
would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Government Bond Futures Money Market Futures Currency Futures |
| --- | --- |
| Options | Options on Government Bond Futures Options on Currency Futures Currency Options (including FX Options) Warrants |
| Swaps | Credit Default Swaps (single name, index and custom basket) |
| Forwards (de- liverable and non-deliver- able) | Forward Foreign Exchange Contracts |
| Securities with Embedded FDI/Leverage | Convertible Bonds Contingent Convertible Securities (CoCos) Asset-Backed Securities (ABS) and Mortgage- Backed Securities (MBS) |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub- Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit iTraxx CDS Index |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. However, as the Sub- Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX–Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where additional information can be found, will be set out in the
Company’s semi-annual and annual accounts.

##### Long and Short Positions
The Sub-Fund may employ synthetic long and synthetic short exposures in each of the asset classes referenced in the Investment Policy to achieve its investment objective. The total net long exposure (after taking account of hedging) through FDI is not expected to exceed 100% of the Net Asset Value of the Sub-Fund and the total net short exposure is not expected to exceed 100% of the Net Asset Value of the Sub-Fund (using the commitment approach).

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Absolute VaR
Absolute VaR Limit: Sub-Fund’s portfolio will not exceed 20% of the Net Asset Value (using a 20 Business Day holding period).
Gross leverage is expected to vary between: 0% to 1000% of the Sub-Fund’s Net Asset Value. The gross leverage may exceed this target level at times.
For more information on the Absolute VaR approach and Gross Leverage, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. securities lending
arrangements and repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of SFTs shall be 100% of the Net Asset Value of the Sub-
Fund. However, it is not anticipated that the Sub-Fund’s
exposure to the SFTs will exceed 15% of the Net Asset
Value. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1£, 1€, 1 CHF, 1CAD, 1AUD, 1SGD, 10HKD, 100¥, 10CNH, 10DKK,
10NOK or 10SEK depending on the currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11
November respectively. Further details are set out under the heading "The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors’ attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Absolute Return Equity Fund

### SUPPLEMENT 19 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may invest principally in FDI and will use FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- The Sub-Fund may invest substantially in deposits with credit institutions. Although the Sub-Fund may invest in money market instruments and cash deposits, Shares in the Sub-Fund are not deposits and are different in nature to a deposit in that the investment is not guaranteed and the value of the investment is capable of fluctuation. Investment in the Sub-Fund involves certain investment risks, including the possible loss of principal.


#### The Investment Manager
Insight Investment Management (Global) Limited

#### Base Currency
Sterling

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “R” Shares and “R (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Share Class Performance Benchmark | Hurdle Rate |
| Sterling R (Acc.) | GBP | 5,000 | 5% | 1.50% | 0% | 15% | SONIA (30- day com- pounded) | SONIA (30- day com- pounded) + 0.04% |
| USD R (hedged) | USD | 5,000 | 5% | 1.50% | 0% | 15% | SOFR (30-day compounded) | SOFR (30-day compounded) + 0.12% |
| Euro R (hedged) | EUR | 5,000 | 5% | 1.50% | 0% | 15% | 1 Month EURIBOR | 1 Month EURIBOR |
| Euro R (Inc.) (hedged) | EUR | 5,000 | 5% | 1.50% | 0% | 15% | 1 Month EURIBOR | 1 Month EURIBOR |
| CHF R (Inc.) (hedged) | CHF | 5,000 | 5% | 1.50% | 0% | 15% | SARON (30- day com- pounded) | SARON (30- day com- pounded) |
| CHF R (hedged) | CHF | 5,000 | 5% | 1.50% | 0% | 15% | SARON (30- day com- pounded) | SARON (30- day com- pounded) |

| “D” Shares and “D (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Share Class Performance Benchmark | Hurdle Rate |
| Sterling D (Acc.) | GBP | 5,000 | 5% | 1.00% | 0% | 15% | SONIA (30- day com- pounded) | SONIA (30- day com- pounded) + 0.04% |
| Sterling D (Inc.) | GBP | 5,000 | 5% | 1.00% | 0% | 15% | SONIA (30- day com- pounded) | SONIA (30- day com- pounded) + 0.04% |
| USD D (Acc.) (hedged) | USD | 5,000 | 5% | 1.00% | 0% | 15% | SOFR (30-day compounded) | SOFR (30-day compounded) + 0.12% |
| USD D (Inc.) (hedged) | USD | 5,000 | 5% | 1.00% | 0% | 15% | SOFR (30-day compounded) | SOFR (30-day compounded) + 0.12% |
| Euro D (Acc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% | 15% | 1 Month EURIBOR | 1 Month EURIBOR |
| Euro D (Inc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% | 15% | 1 Month EURIBOR | 1 Month EURIBOR |
| CHF D (Acc.) (hedged) | CHF | 5,000 | 5% | 1.00% | 0% | 15% | SARON (30- day com- pounded) | SARON (30- day com- pounded) |
| CHF D (Inc.) (hedged) | CHF | 5,000 | 5% | 1.00% | 0% | 15% | SARON (30- day com- pounded) | SARON (30- day com- pounded) |

| “S” Shares and “T (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Share Class Performance Benchmark | Hurdle Rate |
| Sterling S (Acc.) | GBP | 5,000,000 | 5% | 1.00% | 0% | 15% | SONIA (30- day com- pounded) | SONIA (30- day com- pounded) + 0.04% |
| USD T (hedged) | USD | 5,000,000 | 5% | 1.00% | 0% | 15% | SOFR (30-day compounded) | SOFR (30-day compounded) + 0.12% |
| Euro T (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% | 15% | 1 Month EURIBOR | 1 Month EURIBOR |
| Euro T (Inc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% | 15% | 1 Month EURIBOR | 1 Month EURIBOR |
| CHF T (Inc.) (hedged) | CHF | 5,000,000 | 5% | 1.00% | 0% | 15% | SARON (30- day com- pounded) | SARON (30- day com- pounded) |
| CHF T (Acc.) (hedged) | CHF | 5,000,000 | 5% | 1.00% | 0% | 15% | SARON (30- day com- pounded) | SARON (30- day com- pounded) |

| “U” Shares and “U (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Share Class Performance Benchmark | Hurdle Rate |
| Sterling U (Acc.) | GBP | 15,000,000 | 5% | 0.85% | 0% | 15% | SONIA (30- day com- pounded) | SONIA (30- day com- pounded) + 0.04% |
| Sterling U (Inc.) | GBP | 15,000,000 | 5% | 0.85% | 0% | 15% | SONIA (30- day com- pounded) | SONIA (30- day com- pounded) + 0.04% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Share Class Performance Benchmark | Hurdle Rate |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| USD U (hedged) | USD | 15,000,000 | 5% | 0.85% | 0% | 15% | SOFR (30-day compounded) | SOFR (30-day compounded) + 0.12% |
| USD U (Inc.) (hedged) | USD | 15,000,000 | 5% | 0.85% | 0% | 15% | SOFR (30-day compounded) | SOFR (30-day compounded) + 0.12% |
| Euro U (hedged) | EUR | 15,000,000 | 5% | 0.85% | 0% | 15% | 1 Month EURIBOR | 1 Month EURIBOR |
| Euro U (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.85% | 0% | 15% | 1 Month EURIBOR | 1 Month EURIBOR |
| CHF U (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.85% | 0% | 15% | SARON (30- day com- pounded) | SARON (30- day com- pounded) |
| CHF U (Inc.) (hedged) | CHF | 15,000,000 | 5% | 0.85% | 0% | 15% | SARON (30- day com- pounded) | SARON (30- day com- pounded) |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Share Class Performance Benchmark | Hurdle Rate |
| Sterling X (Acc.) | GBP | None | 0% | 0% | 0% | None | SONIA (30- day com- pounded) | None |
| USD X (Acc.) (hedged) | USD | None | 0% | 0% | 0% | None | SOFR (30-day compounded) | None |
| Euro X (Acc.) (hedged) | EUR | None | 0% | 0% | 0% | None | 1 Month EURIBOR | None |
| CHF X (Inc.) (hedged) | CHF | None | 0% | 0% | 0% | None | SARON (30- day com- pounded) | None |
| CHF X (Acc.) (hedged) | CHF | None | 0% | 0% | 0% | None | SARON (30- day com- pounded) | None |


#### Performance Fee
In addition to the annual management charge, the Manager will be entitled to an annual performance fee
(the “Performance Fee”) subject to the conditions outlined
below. The rate at which the Performance Fee shall be
applied is set out in the table above. Performance Fees reduce the value of your investment and the investment return you will receive.
The Performance Fee in respect of each relevant Share Class is calculated as the performance fee rate (set out in the table above) of the Share Class Return (as defined below) over the Hurdle Rate Return (as defined below), subject to a High Water Mark (as defined below).
The Performance Fee will be calculated in respect of
each twelve-month period ending on the 31 December (the “Calculation Period”). The first Calculation Period will be the period commencing on the Business Day
immediately following the closing of the Initial Offer Period and ending on 31 December of the same year.
The “Share Class Return” is calculated on each Valuation Day and is the percentage difference between the Adjusted Net Asset Value on such Valuation Day and the
Adjusted Net Asset Value on the previous Valuation Day.
The “Adjusted Net Asset Value” is the Net Asset Value of the relevant share class (which includes an accrual for all
fees and expenses including the annual management charge and the operating and administrative expenses to be borne by the relevant share class, adjusted for any dividend distributions) but without deduction of any Performance Fee accrued since the start of the Calculation Period.
The “Hurdle Rate” is the rate set out in the table above. A hurdle rate is a predetermined level of return a fund must exceed to earn a performance fee.
The “Hurdle Rate Return” is calculated on each Valuation Day and is defined as the greater of (i) the return of the Hurdle Rate (expressed as a percentage); or, (ii) zero
percent (0%). The “Hurdle Rate” is set out in the table
above and is calculated over a 365 day basis for SONIA
(30-day compounded) and over a 360 day basis for 1 Month EURIBOR, SOFR (30-day compounded), SARON (30- day compounded) and TONAR (30-day compounded).
The “High Water Mark” is defined as the greater of (i) the highest Adjusted Net Asset Value per Share on which a Performance Fee was paid on the last day of any previous
Calculation Period; or, (ii) the initial issue price per Share of each Class.
On each Valuation Day, an Adjusted Net Asset Value is calculated in respect of each share class for which the Performance Fee applies. If the Adjusted Net Asset Value of the relevant share class exceeds the High Water Mark and the Share Class Return exceeds the Hurdle Rate Return, a Performance Fee is accrued.
The use of a High Water Mark ensures that you will not be charged a Performance Fee until any previous underperformance of the Share Class Return is clawed back. Accordingly, no Performance Fee will be charged unless the Adjusted Net Asset Value per Share at the end of the Calculation Period (or at the time of redemption, in the case of a merger subject to the requirements of the Central Bank), the date of termination of the Management Agreement or such other date on which the Company or the Sub-Fund may be liquidated or cease trading) is greater than the High Water Mark. You should note that relative underperformance of Share Class
Return against Hurdle Rate Return in previous Calculation Periods will not be clawed back.
Where the Hurdle Rate would be less than zero percent (0%), a minimum Hurdle Rate Return of zero percent (0%) will be applied in calculating any Performance Fee. This means that you will not be charged a Performance Fee unless the Share Class Return is greater than zero percent (0%) and that any Performance Fees accrued will be limited to the outperformance achieved above zero percent (0%) i.e. Performance Fees are not charged in times of negative performance.
If the Share Class Return does not exceed the Hurdle Rate Return, the Performance Fee accrual is reduced (not below zero). The Performance Fee is reduced by an amount calculated as the performance fee percentage (as set out in the table above) of the underperformance of the Share Class Return against the Hurdle Rate Return (the negative return) multiplied by the Shares in issue.
Once the Performance Fee accrual has been reduced to zero, no new Performance Fee is accrued until (i) the cumulative Share Class Return exceeds the cumulative Hurdle Rate Return since the beginning of the Calculation Period; and, (ii) the Adjusted Net Asset Value of the relevant share class exceeds the High Water Mark.
The Performance Fee accrued on each Valuation Day is reflected in the Net Asset Value per Share on the basis of which subscriptions, redemptions, switches or transfers may be accepted.
Included in the calculation of the Performance Fee shall be net realised and unrealised capital gains plus net realised and unrealised capital losses as at the end of the relevant period. As a result, Performance Fees may be paid on unrealised gains which may subsequently never be realised.
Positive performance may be generated by market movements as well as active portfolio management; this may lead to circumstances where a portion of the Performance Fee is paid based on market movements.
The calculation of the Performance Fee is not open to the possibility of manipulation and shall be verified by the Depositary.
The Performance Fee is calculated and accrued on each Valuation Day and paid yearly in arrears, in respect of each Calculation Period. Any Performance Fee due will generally be paid within 30 Business Days after the end of each Calculation Period, the date of any redemption, the date of a merger (subject to the requirements of the Central Bank), the date of termination of the Management Agreement or such other date on which the Company or the Sub-Fund may be liquidated or cease trading.

##### Examples of how the performance fee will be calculated
Please note the performance fee model does not allow for performance fees to be charged in cases of negative performance.
| Valuation Day | Adjusted Net Asset Value at end of Calculation Period | High Water Mark | Hurdle Rate Return ex- pressed in pence | Excess Return expressed in pence* | Performance Fee** | Net Asset Value at end of Calculation Period | Description of the example |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 31 December (year one) | 105p | 100p | 102p | 3p | 0.45p | 104.55p | Performance was positive over the Calculation Period as the Adjusted Net Asset Value of 105p at end of year one, was higher than the initial issue price of 100p In addition, the Adjusted Net Asset Value is above the High Water Mark of 100p AND the Excess Return of 3p is positive Therefore, a Performance Fee of 0.45p was paid |

| Valuation Day | Adjusted Net Asset Value at end of Calculation Period | High Water Mark | Hurdle Rate Return ex- pressed in pence | Excess Return expressed in pence* | Performance Fee** | Net Asset Value at end of Calculation Period | Description of the example |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 31 December (year two) | 95p | 105p | 106p | 0p | 0p | 95p | Performance was negative over the Calculation Period as the Adjusted Net Asset Value of 95p at the end of year two, was below the Net Asset Value of 104.55p at the end of year one Therefore, no Performance Fee was paid |
| 31 December (year three) | 104p | 105p | 97p | 0p | 0p | 104p | Performance was positive over the Calculation Period as the Adjusted Net Asset Value of 104p at end of year three was higher than the Net Asset Value of 95p at end of year two However, the Adjusted Net Asset Value of 104p was below the High Water Mark of 105p, resulting in Excess Return being zero Therefore, no Performance Fee was paid |
| 31 December (year four) | 110p | 105p | 108p | 2p | 0.30p | 109.7p | Performance was positive over the Calculation Period as the Adjusted Net Asset Value of 110p at end of year four was higher than the Net Asset Value of 104p at end of year three In addition, the Adjusted Net Asset Value is higher than the High Water Mark of 105p AND the Excess Return of 2p is positive Therefore, a Performance Fee of 0.30p was paid |

*Excess Return is the outperformance of the Share Class Return over the Hurdle Rate Return where the Adjusted Net Asset Value has exceeded the High Water Mark.
**15% of Excess Return

#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to provide a positive absolute return in all market conditions.

##### Investment Policy
The Sub-Fund aims to achieve its objective over a rolling twelve month period through discretionary investment management and may employ a range of hedging techniques. However, a positive return is not guaranteed and a capital loss may occur.
The overall policy consists of two distinct elements. First, the Sub-Fund seeks to generate long-term capital growth from investing in a range of equity and equity-related securities (including warrants, preference shares and convertible preference shares) of companies primarily in Europe (including the United Kingdom and countries which may be considered emerging markets within Europe) listed or traded on any Eligible Markets set out
in Appendix II and FDI permitted by the UCITS Regulations. The use of FDI forms an important part of the investment strategy as outlined below. As set out further below, the Sub-Fund could be referred to as a long/short fund. The Investment Manager will primarily use a bottom-up fundamental security analysis in its selection of equity and equity-related securities.
Secondly, the Sub-Fund will invest in a broad range of liquid, near cash or debt or debt-related securities including but not limited to bank deposits, instruments and obligations issued or guaranteed by any sovereign government or their agencies and securities, instruments and obligations issued by supranational or public international bodies, banks, corporates or other
commercial issuers “Liquid, Near Cash, Debt and Debt Related Securities”. It is intended that issuers and/or guarantors of any such securities, instruments or
obligations referred to in the previous sentence will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a Recognised Rating Agency, or will be deemed by the Investment Manager to be of equivalent quality. Debt and debt-related securities (as
referred to above) shall include securities, instruments, obligations, treasury bills, securities debentures, bonds, asset-backed and mortgage-backed securities which will not be leveraged, certificates of deposit, floating rate notes, short and medium term obligations and commercial paper, which may be fixed or floating rate and are issued or guaranteed by any sovereign government or their agencies, local authority, supranational or public international bodies, banks, corporates or other commercial issuers and may have maturities longer than 1 year. This asset class will be held both as an absolute return producing asset class in its own right, and also to provide liquidity and cover for exposures generated through the FDI.
The Sub-Fund aims to achieve its objective through a combination of long/short positions. Long positions may be held through a combination of direct investments and/ or derivative instruments primarily equity swaps, contract for differences, futures, options and forwards. Short positions will be held primarily through FDI primarily equity swaps, contracts for differences, futures, options and forwards further referred to below. In addition to maintaining a portfolio of Liquid, Near Cash or Debt and Debt-Related Securities (as described above), the Sub- Fund will generally seek to achieve its objective by actively managing the market related risks usually associated with investing in equities (otherwise known as
“beta”), as well as isolating the stock specific returns, (otherwise known as “alpha”). It will normally do this through a technique called “pair trades”.
Each equity or equity-related “pair trade” position in the Sub-Fund consists of two parts. The lead idea reflects the Investment Manager’s views about a particular equity and the hedging unit serves to focus the risk of the pair
on the specific return factors the managers are targeting. Where the managers are targeting stock specific return factors only, they may choose to hedge out sector, market direction and other risks. Where the managers target market directional return factors, the lead idea may be partially hedged or unhedged.
Either the lead or hedging unit will be a synthetic short position. A synthetic short position is created when the Sub-Fund sells an asset which it does not own, with the intention of buying it back in the future. If the shorted asset falls in price, then the value of the position increases, and vice-versa. The other part of each pair will be a long position, created by purchasing an asset.
Therefore the Sub-Fund could be referred to as being a “long/short” fund. The Investment Manager has discretion in determining whether to take long or short positions
and the percentage of the Sub-Fund held long or short will vary over the life of the Sub-Fund as the Investment Manager makes such adjustments as it sees fit taking into account the objective of the Sub-Fund.
Although UCITS Regulations prohibit the short selling of physical securities, they allow the creation of synthetic short positions (synthetic in this context meaning essentially achieving the same economic outcome without actually selling short) through the use of derivative instruments, such as equity swaps, futures or
contracts for difference. (See also “Use of FDI” below).
As such the Sub-Fund will make frequent use of FDI for achieving both synthetic long and synthetic short positions (including but not limited to contracts for differences, equity index, equity sub-indices and single equity swaps) relating to equity market indices, sectors,
stocks and baskets of stocks in each case within the conditions and limits set out in the Central Bank UCITS Regulations.
The Sub-Fund will only make equity and equity-related investments when opportunities are identified which, in the opinion of the Investment Manager, provide the Sub- Fund with the potential for significant risk adjusted returns. Otherwise the Sub-Fund will remain invested in Liquid, Near Cash or Debt and Debt Related Securities.
The Investment Manager may express its views in relation to future market volatility relating to equity market indices, sectors, stocks and baskets of stocks in each case within the conditions and limits set out in the
Central Bank’s UCITS Regulations. Volatility investing will
generally be implemented through FDI such as options
and options on futures.
If the Investment Manager believes that future volatility will be higher than anticipated by other investors it will increase exposure to volatility by buying options. The Sub-Fund would profit from any future rise in the volatility of the given asset or market. If, on the other hand, the Investment Manager believes that future
volatility will be lower than anticipated by other investors it will decrease exposure to volatility by selling options. The Sub-Fund would profit from any future fall in asset or market volatility.
The Sub-Fund may also invest up to 10% of its Net Asset Value in collective investment schemes (“CIS”) including other CIS managed by the Investment Manager or its
associates. For example, investment in CIS may be used for cash management purposes or to give exposure to the equity and equity-related securities listed in the investment policy above.
The various types of investment described in these investment policies can include products which the Investment Manager considers to be structured products in that they will enable the Sub-Fund to indirectly gain market exposure to stocks, equity market indices, sectors and/or baskets of stocks although it is not expected that investment in these type of instruments will be significant. Such structured products typically take the form of transferable securities and/or money market instruments (i.e. instruments normally dealt in on the money markets which are liquid and have a value which can be accurately determined at any time) with an embedded derivative. Transferable securities shall have the meaning attributed thereto in the Central Bank UCITS Regulations. An example of such a structured product is a capital-protected zero coupon bond which contains an embedded derivative and which gives a return linked to an equity index. To the extent that such investments expose the Sub-Fund to the performance of any index, such index will need to be sufficiently diversified, represent an adequate benchmark for the markets to which they refer, be published in an appropriate manner and have been cleared in advance by the Central Bank.
Such structured products will be primarily confined to
assets listed or traded on one of the Eligible Markets set out in Appendix II, or if unlisted shall be restricted to 10% of the Net Asset Valueof the Sub-Fund, and shall comply with the requirements of the Central Bank.
With the exception of permitted investment in unlisted securities and open-ended CIS, investments will be made on Eligible Markets listed in Appendix II of the Prospectus.
The Sub-Fund may also enter into securities lending
agreements for investment purposes subject to the conditions and limits set out in the Central Bank’s UCITS Regulations.

##### Benchmark
SONIA 30-day compounded (the “Cash Benchmark”).
SONIA (Sterling Over Night Index Average) is a measure of the rate at which interest is paid on sterling short-term wholesale funds in circumstances where credit, liquidity and other risks are minimal. On each London business day, SONIA is measured as the trimmed mean, rounded to four decimal places, of interest rates paid on eligible sterling denominated deposit transactions. SONIA is a nearly risk-free rate meaning no bank credit risk is included, the rate can rise or fall as a result of central bank policy decisions or changing economic conditions.
The Sub-Fund uses the Cash Benchmark as a target against which to measure its performance on a rolling 12 month basis after fees.
The Sub-Fund is actively managed, which means the Investment Manager has discretion over the selection of investments, subject to the investment objective and policy.

##### Investment Strategy
The investment strategy of the Sub-Fund seeks to provide long and short investment exposure to equity securities with active net exposure via the size of the hedge.
Portfolio construction is based on:
- Individual portfolio manager responsibility
	- Position taking is a function of idea flow and timing judgement

- Position sizes and overall gross exposure varies with
	- Specific risks
	- Liquidity
	- Market environment (volatility, correlation)

- Hedge size at pair trade level is a function of:
	- Specific valuation and fundamental characteristics of the lead idea
	- Assessment of the broader market environment

- Hedge composition varies with:
	- Changing risks to the lead idea
	- Assessment of the broader market environment



##### The Sustainable Finance Disclosure Regulation
When assessing the sustainability risk associated with underlying investments of the Sub-Fund, the Investment Manager is assessing the risk that the value of such
underlying investments could be materially negatively impacted by an ESG event or condition (“ESG Event”). Sustainability risks are managed by ensuring senior
decision makers are informed and included in the Investment Manager’s responsible investment programme, and set effective accountability,
transparency and implementation procedures. Where sustainability risk issues are considered material to investment outcomes, they are incorporated into due diligence processes. This may include evaluating individual securities and/or interaction with issuers or market participants. Internal controls ensure sustainability criteria are applied to The Sub-Fund continuously. ESG restrictions, which includes proprietary ESG ratings and third-party data, are set to prevent or permit investment in securities that meet sustainability- related characteristics. These controls are coded against the Sub-Fund and updated as new information is absorbed.
Corporate governance is a key sustainability risk factor forming part of proprietary ESG risk ratings for all issuers. The Investment Manager's corporate governance assessment includes evaluating board practices and behaviour, remuneration, control and accountability, and ethics or controversies. The Investment Manager applies
the insights from ESG ratings alongside their own knowledge of issuers’ governance structures to set engagement priorities with issuers. The Investment
Manager considers these risks together to decide whether an investment reasonably compensates a fund for sustainability risks over the long and short-term.
In terms of social and environmental factors, the Investment Manager’s proprietary ESG ratings methodology provides sector specific and issuer specific
information on key issues. This model helps the Investment Manager to identify key risks that a specific sector or issuer may be facing.
The Sub-Fund may underperform or perform differently relative to other comparable funds that do not integrate sustainability risks into their investment decisions and there is a risk that that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Equity Futures Equity Index Futures |
| --- | --- |
| Options | Warrants Equity Options (single name, index, sector custom basket) Options on Futures Swaptions |
| Swaps | Equity Swaps (single name, index, sector and custom basket) Contracts for Difference |
| Forwards (de- liverable and non-deliver- able) | Forward Foreign Exchange Contracts |
| Securities with Embedded FDI/Leverage | Convertible Bonds Convertible Preference Shares |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial
purpose, are described in the Prospectus in the section entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub-Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Equity indices to provide | Dax 30 Index |
| exposure to regional and global | Euro Stoxx 50 Index |
| equity markets in a more cost | FTSE 100 Index |
| effective or efficient manner | FTSE 250 Index |
| than buying the physical | FTSE 350 Index |
| securities. | FTSE 350 Supersectors Indexes |
|  | FTSE All Share Index |
|  | FTSE MIB |
|  | FTSE World Index |
|  | Hang Seng Index |
|  | IBEX 35 |
|  | KOSPI Index |
|  | MDAX Index |
|  | MSCI All Countries World Index |
|  | MSCI Emerging Markets Index |
|  | MSCI World Developed ex Europe |
|  | Nasdaq Composite Index |
|  | Nikkei 225 Index |
|  | Russell 2000 Index |
|  | S&P/ASX 200 Index |
|  | S&P/TSX Composite Index |
|  | S&P 500 Index |
|  | Stoxx Europe 600 Index |

These financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where additional information can be found, will be set out in the
Company’s semi-annual and annual accounts.

##### Long and Short Positions
The Sub-Fund may employ synthetic long and synthetic short exposures in each of the asset classes referenced in the Investment Policy to achieve its investment objective. The total net long exposure (after taking account of hedging) through FDI is not expected to exceed 200% of the Net Asset Value of the Sub-Fund and the total net short exposure is not expected to exceed 200% of the Net Asset Value of the Sub-Fund (using the commitment approach).

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Absolute VaR
Absolute VaR Limit: 10% of the Net Asset Value of the Sub-Fund (using a 5 Business Day holding period)
Gross leverage is expected to vary between: 0 – 500% of the Net Asset Value. The gross leverage may exceed this target level at times
For more information on the Absolute VaR approach and Gross Leverage, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may enter into contracts for difference and equity swaps with securities financing effects similar to
total return swaps (“Securities Financing Swaps” or “SFS”), as described under the heading “Use of FDI” and may engage in SFTs, i.e. securities lending arrangements
and repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of SFS shall be 400% and in respect of SFTs shall be 100% of the Net Asset Value of the Sub-Fund. However, it is
not anticipated that the Sub-Fund’s exposure in respect
of SFS will exceed 350% and in respect of SFTs will
exceed 15% of the Net Asset Value of the Sub-Fund. The types of assets that will be subject to SFS will be of a type which is consistent with the investment policy of the Sub-Fund. The types of assets that will be subject to SFTs will be assets which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”,
“Appendix III - Management of Collateral”, “Appendix III -
Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1£,1USD, 1€ or 1CHF depending on the currency of the relevant class
(plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February. Further details
are set out under the heading “The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors' attention is particularly drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Emerging Markets Corporate Debt Fund

### SUPPLEMENT 20 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. The use of FDI for investment purposes will not be extensive. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- Investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be suitable for all investors.


#### The Investment Manager
Insight Investment Management (Global) Limited
The Investment Manager may delegate its investment management functions to a Sub-Investment Manager and/or appoint a sub-investment adviser to provide investment advice in accordance with the requirements of the Central Bank. As at the date of this Supplement, the Investment Manager has appointed the Sub- Investment Manager, as described below.

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its
investment management functions with respect to this Sub-Fund to Insight North America LLC (the “Sub- Investment Manager”). Details of the Sub-Investment Management Agreement between the Investment
Manager and the Sub-Investment Manager are set out under the heading “Sub-Investment Managers” in the Prospectus.

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro A | EUR | 5,000 | 5% | 1.50% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 1.50% | 0% |
| Euro A (Inc.) (M) | EUR | 5,000 | 5% | 1.50% | 0% |
| USD A | USD | 5,000 | 5% | 1.50% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 1.50% | 0% |
| AUD A (Acc.) | AUD | 5,000 | 5% | 1.50% | 0% |
| AUD A (Inc.) (M) | AUD | 5,000 | 5% | 1.50% | 0% |
| HKD A (Acc.) | HKD | 50,000 | 5% | 1.50% | 0% |
| HKD A (Inc.) (M) | HKD | 50,000 | 5% | 1.50% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| CNH A (Acc.) | CNH | 50,000 | 5% | 1.50% | 0% |
| CNH A (Inc.) (M) | CNH | 50,000 | 5% | 1.50% | 0% |
| SGD A (Acc.) | SGD | 5,000 | 5% | 1.50% | 0% |
| SGD A (Inc.) (M) | SGD | 5,000 | 5% | 1.50% | 0% |
| Euro H (hedged) | EUR | 5,000 | 5% | 1.50% | 0% |
| Euro H (Inc.) (hedged) (M) | EUR | 5,000 | 5% | 1.50% | 0% |
| AUD H (Acc.) (hedged) | AUD | 5,000 | 5% | 1.50% | 0% |
| AUD H (Inc.) (hedged) (M) | AUD | 5,000 | 5% | 1.50% | 0% |
| CNH H (Acc.) (hedged) | CNH | 50,000 | 5% | 1.50% | 0% |
| CNH H (Inc.) (hedged) (M) | CNH | 50,000 | 5% | 1.50% | 0% |
| SGD H (Acc.) (hedged) | SGD | 5,000 | 5% | 1.50% | 0% |
| SGD H (Inc.) (hedged) (M) | SGD | 5,000 | 5% | 1.50% | 0% |
| DKK H (Acc.) (hedged) | DKK | 50,000 | 5% | 1.50% | 0% |
| NOK H (Acc.) (hedged) | NOK | 50,000 | 5% | 1.50% | 0% |
| SEK H (Acc.) (hedged) | SEK | 50,000 | 5% | 1.50% | 0% |

| “B” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD B | USD | 10,000 | 5% | 1.25% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 0.85% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 0.85% | 0% |
| Euro G (Acc.) | EUR | 5,000 | 5% | 0.85% | 0% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 0.85% | 0% |
| Euro G (Acc.) (hedged) | EUR | 5,000 | 5% | 0.85% | 0% |
| Euro G (Inc.) (hedged) | EUR | 5,000 | 5% | 0.85% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro C | EUR | 5,000,000 | 5% | 0.85% | 0% |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 0.85% | 0% |
| Sterling C (Acc.) | GBP | 5,000,000 | 5% | 0.85% | 0% |
| Sterling C (Inc.) | GBP | 5,000,000 | 5% | 0.85% | 0% |
| CHF C (Acc.) | CHF | 5,000,000 | 5% | 0.85% | 0% |
| USD C | USD | 5,000,000 | 5% | 0.85% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 0.85% | 0% |
| Euro I (hedged) | EUR | 5,000,000 | 5% | 0.85% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 0.85% | 0% |
| Sterling I (Acc.) (hedged) | GBP | 5,000,000 | 5% | 0.85% | 0% |
| Sterling I (Inc.) (hedged) | GBP | 5,000,000 | 5% | 0.85% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro W | EUR | 15,000,000 | 5% | 0.65% | 0% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.65% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.65% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.65% | 0% |
| Euro W (Inc.) (hedged) (M) | EUR | 15,000,000 | 5% | 0.65% | 0% |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.65% | 0% |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.65% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.65% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.65% | 0% |
| CHF W (Acc.) | CHF | 15,000,000 | 5% | 0.65% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.65% | 0% |
| CHF W (Inc.) (hedged) | CHF | 15,000,000 | 5% | 0.65% | 0% |
| USD W | USD | 15,000,000 | 5% | 0.65% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.65% | 0% |
| USD W (Inc.) (M) | USD | 15,000,000 | 5% | 0.65% | 0% |
| HKD W (Inc.) (M) | HKD | 150,000,000 | 5% | 0.65% | 0% |
| AUD W (Inc.) (hedged) (M) | AUD | 15,000,000 | 5% | 0.65% | 0% |
| CAD W (Inc.) (hedged) (M) | CAD | 15,000,000 | 5% | 0.65% | 0% |
| CNH W (Inc.) (hedged) (M) | CNH | 150,000,000 | 5% | 0.65% | 0% |
| SGD W (Inc.) (hedged) (M) | SGD | 15,000,000 | 5% | 0.65% | 0% |
| DKK W (Acc.) (hedged) | DKK | 150,000,000 | 5% | 0.65% | 0% |
| NOK W (Acc.) (hedged) | NOK | 150,000,000 | 5% | 0.65% | 0% |
| SEK W (Acc.) (hedged) | SEK | 150,000,000 | 5% | 0.65% | 0% |

| “X” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) | EUR | None | 0% | 0% | 0% |
| Sterling X (Acc.) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) | GBP | None | 0% | 0% | 0% |
| Sterling X (Acc.) (hedged) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) (hedged) | GBP | None | 0% | 0% | 0% |
| CHF X (Acc.) | CHF | None | 0% | 0% | 0% |
| USD X | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |

| “Y” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD Y (Acc.) | USD | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to generate a total return comprised of income and capital growth by investing primarily in corporate debt, and corporate debt-related instruments issued by emerging markets issuers worldwide and in financial derivative instruments relating to such instruments.

##### Investment Policy
The Sub-Fund will invest primarily (meaning at least three-quarters of the Sub-Fund’s Net Asset Value) in a broad range of corporate bonds, other bonds and credit
or bond related instruments and investments including asset-backed securities and convertible bonds issued by corporate issuers which are economically tied or linked to emerging market countries and which are listed or traded on any Eligible Markets (as set out in Appendix II of the Prospectus). The Sub-Fund may invest directly in such instruments or via a broad range of FDI, as permitted by the UCITS Regulations and listed below. FDI may be used to manage interest rate, credit and/or currency risks, as well as to take directional views on corporate issuers.
The Sub-Fund may also invest in debt securities which may be fixed or floating rate and may be issued or guaranteed by sovereign governments or their agencies or supranational or public international bodies from emerging market countries. The emerging market debt and debt-related securities that the Sub-Fund may invest in include Brady bonds, sovereign Eurobonds, loans (such as unsecuritised loan participations, and/or loan assignments), sovereign loans, local treasury bills, notes and bonds, certificates of deposit, commercial paper and structured notes.
The Sub-Fund may invest up to 15% of its Net Asset Value in asset-backed securities and up to 30% of its Net
Asset Value in subordinated debt instruments including contingent convertible securities (“CoCos”). The Sub-Fund will not invest more than 10% of its Net Asset Value in
CoCos. Please see “Contingent Convertible Securities (CoCos) Risk” in the Prospectus for details of the risks associated with CoCos.
The Sub-Fund may invest in corporate bonds that are subordinated debt including unsecured bonds, corporate hybrid bonds and CoCos as well as additional/restricted tier 1 bonds, tier 2 bonds and tier 3 bonds issued by financial companies such as banks and insurance companies.
The Sub-Fund may invest up to 10% in other open-ended collective investment schemes (“CIS”). Investment in CIS may be used for cash management purposes (e.g. via
money market funds) or to give exposure to the debt and debt-related instruments listed in the investment policy. The Sub-Fund may also hold money market instruments and ancillary liquid assets such as bank deposits.
Emerging markets comprise countries other than advanced economies although it may include some advanced economies that exhibit financial / economic conditions characteristic of developing nations, for example, low gross national product (GNP). The Sub-Fund is likely to invest in, but is not limited to: Asia (such as Azerbaijan and Thailand), Latin America (such as El Salvador and Panama), the Middle East (such as Iraq and
Saudi Arabia), Africa (such as Cote D’ivoire and United
Republic of Tanzania) and emerging or developing European countries (such as Czech Republic and Hungary).
The Sub-Fund may also invest up to 15% of its Net Asset Value in debt or debt-related securities listed or traded on the Moscow Exchange.
Many of the emerging market securities in which the Sub-Fund may invest are, by definition, high yield and rated below investment grade (BB+ or below) (or its
equivalent) or are unrated by a Recognised Rating Agency. Issuers and/or guarantors of any investments held by the Sub-Fund may also be rated below investment grade or unrated by a Recognised Rating Agency. Those issuers with a rating below investment grade have a lower quality than those with an investment grade rating, and the investments in securities of these issuers present a high risk.
The Sub-Fund will not invest more than 10% of its Net Asset Value in securities issued and/or guaranteed by a single sovereign issuer with a credit rating below investment grade. For the avoidance of doubt, a single sovereign issuer shall include its government, agencies, a public or local authority.
The Sub-Fund may invest in instruments denominated in hard or local currencies. Hard currencies are generally issued by developed countries and have a stable exchange rate over a longer period. Local currencies are generally issued by developing countries and, from time to time, have a fluctuating exchange rate.

##### Benchmark
JP Morgan Corporate Emerging Market Bond Index Broad Diversified (CEMBI - BD) TR Index (the “Benchmark”).
The Benchmark is a market capitalisation weighted index consisting of USD denominated emerging market corporate bonds.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest
outside the Benchmark subject to the investment objective and policy. While the Sub-Fund’s holdings may include constituents of the Benchmark, the selection of
investments and their weightings in the portfolio are not influenced by the Benchmark. The investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.

##### Investment Strategy
The investment strategy of the Sub-Fund is based on:
- Emerging market corporate bonds offering excess yield compared to developed markets, which presents a structural investment opportunity;
- an imperfect market that is not always properly understood, or valued;and
- the following sources of alpha:
	- Country allocation
	- Credit and legal analysis
	- Liquidity management

- Instrument selectionWithin the emerging market country coverage model, fundamental credit research, quantitative screening and valuation assessment is undertaken leading to theInvestment Manager’s debt issuer selection (in terms ofrisk/reward valuation) and debt instrument selection (interms of maturity, covenants and position size).


##### The Sustainable Finance Disclosure Regulation
When assessing the sustainability risk associated with underlying investments of the Sub-Fund, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively
impacted by an ESG event or condition (“ESG Event”).
Sustainability risks are managed by ensuring senior
decision makers are informed and included in the Investment Manager’s responsible investment programme, and set effective accountability,
transparency and implementation procedures. Where sustainability risk issues are considered material to investment outcomes, they are incorporated into due diligence processes. This may include evaluating individual securities and/or interaction with issuers or market participants. Internal controls ensure sustainability criteria are applied to The Sub-Fund continuously. ESG restrictions, which includes proprietary ESG ratings and third-party data, are set to prevent or permit investment in securities that meet sustainability- related characteristics. These controls are coded against the Sub-Fund and updated as new information is absorbed.
Corporate governance is a key sustainability risk factor forming part of proprietary ESG risk ratings for all issuers. The Investment Manager's corporate governance assessment includes evaluating board practices and behaviour, remuneration, control and accountability, and ethics or controversies. The Investment Manager applies
the insights from ESG ratings alongside their own knowledge of issuers’ governance structures to set engagement priorities with issuers. The Investment
Manager considers these risks together to decide whether an investment reasonably compensates a fund for sustainability risks over the long and short-term.
In terms of social and environmental factors, the Investment Manager’s proprietary ESG ratings methodology provides sector specific and issuer specific
information on key issues. This model helps the Investment Manager to identify key risks that a specific sector or issuer may be facing.
The Sub-Fund may underperform or perform differently relative to other comparable funds that do not integrate sustainability risks into their investment decisions and there is a risk that that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the
technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Bond Futures Interest Rate Futures |
| --- | --- |
| Options | Currency Options (including FX Options) Bond Options |
| Swaps | Credit Default Swaps (single name, index and custom basket) Inflation Swaps Interest Rate Swaps Total Return Swaps (single name, credit, index and custom basket) Currency Swaps |
| Forwards (de- liverable and non-deliver- able) | Forward Foreign Exchange Contracts |
| Securities with Embedded FDI/Leverage | Contingent Convertible Securities (CoCos) Convertible Bonds Asset-Backed Securities |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

##### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub-Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit CDX Emerging Markets Index |
| Total Return Swap (TRS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying physical securities. | Markit iBoxx GEMX Index |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. The remaining financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any
rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where additional information can be found, will be set out in the
Company’s semi-annual and annual accounts.

##### Long and Short Positions
The Sub-Fund may employ synthetic long and synthetic short exposures in each of the asset classes referenced in the Investment Policy to achieve its investment objective. The total net long exposure (after taking account of hedging) through FDI is not expected to exceed 50% of the Net Asset Value of the Sub-Fund and the total net short exposure is not expected to exceed 50% of the Net Asset Value of the Sub-Fund (using the commitment approach).

#### Registration in Hong Kong
This Sub-Fund is registered for sale in Hong Kong.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 50% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions
and limits set out in the Central Bank UCITS Regulations. Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in SFTs, i.e. securities lending arrangements and
repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 30% and in respect of SFTs shall be 100% of the Net Asset Value of the Sub-Fund. However, it is
not anticipated that the Sub-Fund’s exposure in respect
of TRS will exceed 20% and in respect of SFTs will
exceed 30% of the Net Asset Value of the Sub-Fund. The types of assets that will be subject to TRS and SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in unlaunched share classes will be issued during
their respective Initial Offer Periods at their respective initial offer price per Share of 100$, 100£, 100€, 100CHF, 100AUD, 100CAD, 1000HKD, 1000CNH, 100SGD, 1000DKK,
1000NOK or 1000SEK depending on the currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge if any applicable to the relevant class).
All applications for Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) share classes with the suffix “(M)”, dividends will normally be declared monthly on the last Business Day of the month. For
holders of income generating monthly distributing Shares, the declared dividends will normally be paid on or before the 20
th 
calendar day of the following month. In the case of all other income generating (Inc.) share classes and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of these income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11 November respectively. Further details are
set out under the heading "The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Absolute Return Bond Fund

### SUPPLEMENT 21 DATED 3 MAY, 2022 TO TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may invest principally in FDI, and will use FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- Investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.
- The Sub-Fund may, from time to time, invest substantially in money market instruments and/or deposits with credit institutions. Although the Sub- Fund may invest in money market instruments and cash deposits, Shares in the Sub-Fund are not deposits and are different in nature to a deposit in that the investment is not guaranteed and the value of the investment is capable of fluctuation. Investment in the Sub-Fund involves certain investment risks, including the possible loss of principal.


#### The Investment Manager
Insight Investment Management (Global) Limited
The Investment Manager may delegate its investment management functions to a Sub-Investment Manager and/or appoint a sub-investment adviser to provide investment advice in accordance with the requirements of the Central Bank. As at the date of this Supplement, the Investment Manager has appointed the Sub- Investment Manager, as described below.

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its investment management functions with respect to this
Sub-Fund to Insight North America LLC (the “Sub- Investment Manager”). Details of the Sub-Investment
Management Agreement between the Investment Manager and the Sub-Investment Manager are set out
under the heading “Sub-Investment Managers” in the
Prospectus.

#### Base Currency
Euro

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Share Class Performance Benchmark | Hurdle Rate |
| Euro W (Acc.) | EUR | 15,000,000 | 5% | 0.75% | 0% | None | 3 Month EURIBOR | None |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.75% | 0% | None | 3 Month EURIBOR | None |
| USD W (Acc.) (hedged) | USD | 15,000,000 | 5% | 0.75% | 0% | None | SOFR (90-day compounded) | None |
| USD W (Inc.) (hedged) | USD | 15,000,000 | 5% | 0.75% | 0% | None | SOFR (90-day compounded) | None |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Share Class Performance Benchmark | Hurdle Rate |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.75% | 0% | None | SONIA (90- day com- pounded) | None |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.75% | 0% | None | SONIA (90- day com- pounded) | None |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.75% | 0% | None | SARON (90- day com- pounded) | None |
| CHF W (Inc.) (hedged) | CHF | 15,000,000 | 5% | 0.75% | 0% | None | SARON (90- day com- pounded) | None |
| JPY W (Acc.) (hedged) | JPY | 1,500,000,000 | 5% | 0.75% | 0% | None | TONAR (90- day com- pounded) | None |
| JPY W (Inc.) (hedged) | JPY | 1,500,000,000 | 5% | 0.75% | 0% | None | TONAR (90- day com- pounded) | None |

| “Z” Shares and “Z (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Share Class Performance Benchmark | Hurdle Rate |
| Euro Z (Acc.) | EUR | 200,000,000 | 5% | 0.65% | 0% | None | 3 Month EURIBOR | None |
| Euro Z (Inc.) | EUR | 200,000,000 | 5% | 0.65% | 0% | None | 3 Month EURIBOR | None |
| Sterling Z (Acc.) (hedged) | GBP | 200,000,000 | 5% | 0.65% | 0% | None | SONIA (90- day com- pounded) | None |
| Sterling Z (Inc.) (hedged) | GBP | 200,000,000 | 5% | 0.65% | 0% | None | SONIA (90- day com- pounded) | None |

| “R” Shares and “R (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Share Class Performance Benchmark | Hurdle Rate |
| Euro R | EUR | 5,000 | 5% | 1.00% | 0% | 10% | 3 Month EURIBOR | 3 Month EURIBOR |
| Euro R (Inc.) | EUR | 5,000 | 5% | 1.00% | 0% | 10% | 3 Month EURIBOR | 3 Month EURIBOR |
| USD R (hedged) | USD | 5,000 | 5% | 1.00% | 0% | 10% | SOFR (90-day compounded) | SOFR (90-day compounded) + 0.27% |
| USD R (Inc.) (hedged) | USD | 5,000 | 5% | 1.00% | 0% | 10% | SOFR (90-day compounded) | SOFR (90-day compounded) + 0.27% |
| CHF R (Acc.) (hedged) | CHF | 5,000 | 5% | 1.00% | 0% | 10% | SARON (90- day com- pounded) | SARON (90- day com- pounded) + 0.01% |
| CHF R (Inc.) (hedged) | CHF | 5,000 | 5% | 1.00% | 0% | 10% | SARON (90- day com- pounded) | SARON (90- day com- pounded) + 0.01% |

| “D” Shares and “D (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Share Class Performance Benchmark | Hurdle Rate |
| Euro D (Acc.) | EUR | 5,000 | 5% | 0.50% | 0% | 10% | 3 Month EURIBOR | 3 Month EURIBOR |
| Euro D (Inc.) | EUR | 5,000 | 5% | 0.50% | 0% | 10% | 3 Month EURIBOR | 3 Month EURIBOR |
| USD D (Acc.) (hedged) | USD | 5,000 | 5% | 0.50% | 0% | 10% | SOFR (90-day compounded) | SOFR (90-day compounded) +0.27% |
| USD D (Inc.) (hedged) | USD | 5,000 | 5% | 0.50% | 0% | 10% | SOFR (90-day compounded) | SOFR (90-day compounded) + 0.27% |
| Sterling D (Acc.) (hedged) | GBP | 5,000 | 5% | 0.50% | 0% | 10% | SONIA (90- day com- pounded) | SONIA (90- day com- pounded) + 0.12% |
| Sterling D (Inc.) (hedged) | GBP | 5,000 | 5% | 0.50% | 0% | 10% | SONIA (90- day com- pounded) | SONIA (90- day com- pounded) + 0.12% |
| CHF D (Acc.) (hedged) | CHF | 5,000 | 5% | 0.50% | 0% | 10% | SARON (90- day com- pounded) | SARON (90- day com- pounded) + 0.01% |
| CHF D (Inc.) (hedged) | CHF | 5,000 | 5% | 0.50% | 0% | 10% | SARON (90- day com- pounded) | SARON (90- day com- pounded) + 0.01% |

| “S” Shares and “T (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Share Class Performance Benchmark | Hurdle Rate |
| Euro S | EUR | 5,000,000 | 5% | 0.50% | 0% | 10% | 3 Month EURIBOR | 3 Month EURIBOR |
| Euro S (Inc.) | EUR | 5,000,000 | 5% | 0.50% | 0% | 10% | 3 Month EURIBOR | 3 Month EURIBOR |
| USD T (hedged) | USD | 5,000,000 | 5% | 0.50% | 0% | 10% | SOFR (90-day compounded) | SOFR (90-day compounded) + 0.27% |
| USD T (Inc.) (hedged) | USD | 5,000,000 | 5% | 0.50% | 0% | 10% | SOFR (90-day compounded) | SOFR (90-day compounded) + 0.27% |
| Sterling T (Acc.) (hedged) | GBP | 5,000,000 | 5% | 0.50% | 0% | 10% | SONIA (90- day com- pounded) | SONIA (90- day com- pounded) + 0.12% |
| Sterling T (Inc.) (hedged) | GBP | 5,000,000 | 5% | 0.50% | 0% | 10% | SONIA (90- day com- pounded) | SONIA (90- day com- pounded) + 0.12% |
| CHF T (Acc.) (hedged) | CHF | 5,000,000 | 5% | 0.50% | 0% | 10% | SARON (90- day com- pounded) | SARON (90- day com- pounded) + 0.01% |
| CHF T (Inc.) (hedged) | CHF | 5,000,000 | 5% | 0.50% | 0% | 10% | SARON (90- day com- pounded) | SARON (90- day com- pounded) + 0.01% |
| JPY T (Acc.) (hedged) | JPY | 500,000,000 | 5% | 0.50% | 0% | 10% | TONAR (90- day com- pounded) | TONAR (90- day com- pounded) + 0.01% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Share Class Performance Benchmark | Hurdle Rate |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| JPY T (Inc.) (hedged) | JPY | 500,000,000 | 5% | 0.50% | 0% | 10% | TONAR (90- day com- pounded) | TONAR (90- day com- pounded) + 0.01% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Share Class Performance Benchmark | Hurdle Rate |
| Euro X | EUR | None | 0% | 0% | 0% | None | 3 Month EURIBOR | None |
| Euro X (Inc.) | EUR | None | 0% | 0% | 0% | None | 3 Month EURIBOR | None |
| USD X (Acc.) (hedged) | USD | None | 0% | 0% | 0% | None | SOFR (90-day compounded) | None |
| USD X (Inc.) (hedged) | USD | None | 0% | 0% | 0% | None | SOFR (90-day compounded) | None |
| Sterling X (Acc.) (hedged) | GBP | None | 0% | 0% | 0% | None | SONIA (90- day com- pounded) | None |
| Sterling X (Inc.) (hedged) | GBP | None | 0% | 0% | 0% | None | SONIA (90- day com- pounded) | None |
| CHF X (Acc.) (hedged) | CHF | None | 0% | 0% | 0% | None | SARON (90- day com- pounded) | None |
| CHF X (Inc.) (hedged) | CHF | None | 0% | 0% | 0% | None | SARON (90- day com- pounded) | None |
| JPY X (Acc.) (hedged) | JPY | None | 0% | 0% | 0% | None | TONAR (90- day com- pounded) | None |
| JPY X (Inc.) (hedged) | JPY | None | 0% | 0% | 0% | None | TONAR (90- day com- pounded) | None |


#### Performance Fee
In addition to the annual management charge, the Manager will be entitled to an annual performance fee
(the “Performance Fee”) subject to the conditions outlined
below. The rate at which the Performance Fee shall be
applied is set out in the table above. Performance Fees reduce the value of your investment and the investment return you will receive.
The Performance Fee in respect of each relevant Share Class is calculated as the performance fee rate (set out in the table above) of the Share Class Return (as defined below) over the Hurdle Rate Return (as defined below), subject to a High Water Mark (as defined below).
The Performance Fee will be calculated in respect of
each twelve-month period ending on the 31 December (the “Calculation Period”). The first Calculation Period will be the period commencing on the Business Day
immediately following the closing of the Initial Offer Period and ending on 31 December of the same year.
The “Share Class Return” is calculated on each Valuation Day and is the percentage difference between the Adjusted Net Asset Value on such Valuation Day and the
Adjusted Net Asset Value on the previous Valuation Day.
The “Adjusted Net Asset Value” is the Net Asset Value of the relevant share class (which includes an accrual for all fees and expenses including the annual management
charge and the operating and administrative expenses to be borne by the relevant share class, adjusted for any dividend distributions) but without deduction of any Performance Fee accrued since the start of the Calculation Period.
The “Hurdle Rate” is the rate set out in the table above. A hurdle rate is a predetermined level of return a fund must exceed to earn a performance fee.
The “Hurdle Rate Return” is calculated on each Valuation Day and is defined as the greater of (i) the return of the
Hurdle Rate (expressed as a percentage); or, (ii) zero percent (0). The “Hurdle Rate” is set out in the table above and is calculated over a 365 day basis for SONIA
(90-day compounded) and over a 360 day basis for 3 Month EURIBOR, SOFR (90-day compounded), SARON (90- day compounded) and TONAR (90-day compounded).
The “High Water Mark” is defined as the greater of (i) the highest Adjusted Net Asset Value per Share on which a Performance Fee was paid on the last day of any previous
Calculation Period; or, (ii) the initial issue price per Share of each Class.
On each Valuation Day, an Adjusted Net Asset Value is calculated in respect of each share class for which the Performance Fee applies. If the Adjusted Net Asset Value of the relevant share class exceeds the High Water Mark and the Share Class Return exceeds the Hurdle Rate Return, a Performance Fee is accrued.
The use of a High Water Mark ensures that you will not be charged a Performance Fee until any previous underperformance of the Share Class Return is clawed back. Accordingly, no Performance Fee will be charged unless the Adjusted Net Asset Value per Share at the end of the Calculation Period (or at the time of redemption, in the case of a merger subject to the requirements of the Central Bank), the date of termination of the Management Agreement or such other date on which the Company or the Sub-Fund may be liquidated or cease trading) is greater than the High Water Mark. You should note that relative underperformance of Share Class
Return against Hurdle Rate Return in previous Calculation Periods will not be clawed back.
Where the Hurdle Rate would be less than zero percent (0%), a minimum Hurdle Rate Return of zero percent (0%) will be applied in calculating any Performance Fee. This means that you will not be charged a Performance Fee unless the Share Class Return is greater than zero percent (0%) and that any Performance Fees accrued will be limited to the outperformance achieved above zero percent (0%) i.e. Performance Fees are not charged in times of negative performance.
If the Share Class Return does not exceed the Hurdle Rate Return, the Performance Fee accrual is reduced (not below zero). The Performance Fee is reduced by an amount calculated as the performance fee percentage (as set out in the table above) of the underperformance of the Share Class Return against the Hurdle Rate Return (the negative return) multiplied by the Shares in issue.
Once the Performance Fee accrual has been reduced to zero, no new Performance Fee is accrued until (i) the cumulative Share Class Return exceeds the cumulative Hurdle Rate Return since the beginning of the Calculation Period; and, (ii) the Adjusted Net Asset Value of the relevant share class exceeds the High Water Mark.
The Performance Fee accrued on each Valuation Day is reflected in the Net Asset Value per Share on the basis of which subscriptions, redemptions, switches or transfers may be accepted.
Included in the calculation of the Performance Fee shall be net realised and unrealised capital gains plus net realised and unrealised capital losses as at the end of the relevant period. As a result, Performance Fees may be paid on unrealised gains which may subsequently never be realised.
Positive performance may be generated by market movements as well as active portfolio management; this may lead to circumstances where a portion of the Performance Fee is paid based on market movements.
The calculation of the Performance Fee is not open to the possibility of manipulation and shall be verified by the Depositary.
The Performance Fee is calculated and accrued on each Valuation Day and paid yearly in arrears, in respect of each Calculation Period. Any Performance Fee due will generally be paid within 30 Business Days after the end of each Calculation Period, the date of any redemption, the date of a merger (subject to the requirements of the Central Bank), the date of termination of the Management Agreement or such other date on which the Company or the Sub-Fund may be liquidated or cease trading.

##### Examples of how the performance fee will be calculated
Please note the performance fee model does not allow for performance fees to be charged in cases of negative performance.
| Valuation Day | Adjusted Net Asset Value at end of Calculation Period | High Water Mark | Hurdle Rate Return ex- pressed in pence | Excess Return expressed in pence* | Performance Fee** | Net Asset Value at end of Calculation Period | Description of the example |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 31 December (year one) | 105p | 100p | 102p | 3p | 0.3p | 104.7p | Performance was positive over the Calculation Period as the Adjusted Net Asset Value of 105p at end of year one, was higher than the initial issue price of 100p In addition, the Adjusted Net Asset Value is above the High Water Mark of 100p AND the Excess Return of 3p is positive Therefore, a Performance Fee of 0.30p was paid |

| Valuation Day | Adjusted Net Asset Value at end of Calculation Period | High Water Mark | Hurdle Rate Return ex- pressed in pence | Excess Return expressed in pence* | Performance Fee** | Net Asset Value at end of Calculation Period | Description of the example |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 31 December (year two) | 95p | 105p | 106p | 0p | 0p | 95p | Performance was negative over the Calculation Period as the Adjusted Net Asset Value of 95p at the end of year two, was below the Net Asset Value of 104.7p at the end of year one Therefore, no Performance Fee was paid |
| 31 December (year three) | 104p | 105p | 97p | 0p | 0p | 104p | Performance was positive over the Calculation Period as the Adjusted Net Asset Value of 104p at end of year three was higher than the Net Asset Value of 95p at end of year two However, the Adjusted Net Asset Value of 104p was below the High Water Mark of 105p, resulting in Excess Return being zero Therefore, no Performance Fee was paid |
| 31 December (year four) | 110p | 105p | 108p | 2p | 0.20p | 109.8p | Performance was positive over the Calculation Period as the Adjusted Net Asset Value of 110p at end of year four was higher than the Net Asset Value of 104p at end of year three In addition, the Adjusted Net Asset Value is higher than the High Water Mark of 105p AND the Excess Return of 2p is positive Therefore, a Performance Fee of 0.20p was paid |

* Excess Return is the outperformance of the Share Class Return over the Hurdle Rate Return where the Adjusted Net Asset Value has exceeded the High Water Mark
** 10% of Excess Return

#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to provide a positive absolute return in all market conditions over a rolling 12 month period by investing primarily in debt and debt-related securities and instruments located worldwide and in financial derivative instruments relating to such securities and instruments.

##### Investment Policy
The Sub-Fund will seek to achieve its investment objective by investing primarily in bonds and bond- related instruments and other types of securities listed or traded on any Eligible Markets and FDI permitted by the UCITS Regulations, as set out below.
The Sub-Fund will employ a range of fixed income strategies which involve taking long and short positions relating to interest rates, bonds and inflation. Investment
decisions will be driven by the Investment Manager’s
views on a range of global return sources including but not limited to credit strategy, security selection, market allocation, duration and yield curve, and currency selection. Long positions may be held through a combination of direct investments and/or FDI listed below. Short positions will be held synthetically, through the use of FDI. The long/short ratio of the Sub-Fund will vary over time depending on the strategies the Investment Manager wishes to employ.
The Investment Manager will primarily use bottom-up credit research and analysis in its selection of securities, which aims to identify, on a worldwide basis and without any specific geographic focus, investments with good total return generating potential.
Whilst the Sub-Fund’s base currency is Euro, it may invest in non-Euro denominated assets which may not necessarily be hedged back into Euro.
The Sub-Fund may invest in a broad range of debt investments which may be fixed or floating rate and including debt securities, instruments and obligations, which may be issued or guaranteed by sovereign
governments or their agencies and debt securities, instruments and obligations issued by supranational or public international bodies, banks, corporates or other commercial issuers.
It is intended that issuers and/or guarantors of any such securities, instruments or obligations referred to in the previous sentence will have a credit rating at the time of purchase of at least BBB- (or its equivalent) from a Recognised Rating Agency, or will be deemed by the Investment Manager to be of equivalent quality.
These types of debt investments that the Sub-Fund will invest in include, but are not limited, to sovereign government bonds and treasury bills, supranational bonds, corporate bonds, debentures, notes (which are transferable securities) and other similar corporate debt instruments, including convertible bonds ((including Contingent Convertible Securities (CoCos)), asset-backed securities, certificates of deposit, floating rate notes, short and medium term obligations and commercial paper and other money market instruments.
The Sub-Fund may invest in emerging market debt and debt-related securities. These include Brady bonds, sovereign Eurobonds, corporate bonds, loans and sovereign loans, local treasury bills, notes and bonds, certificates of deposit, commercial paper, structured notes and money market securities. Many of the emerging market securities in which the Sub-Fund may invest are, by definition, rated below investment grade (BBB-); those issuers with a rating below (BBB-) have a lower quality than those with an investment grade rating and the investments in securities of these issuers present a high risk.
Debt securities may be acquired with warrants attached. Corporate income-producing securities may also include forms of preferred or preference stock. The rate of interest on a corporate debt security may be fixed, floating or variable, and may vary inversely with respect to a reference rate.
The Sub-Fund may invest in a broad range of sub- investment grade securities which have a credit rating at the time of purchase of at least Ba1/BB+ or below (or its equivalent) from a Recognised Rating Agency. These include sovereign bonds, supranational bonds, corporate bonds, debentures, notes (which are transferable securities) and other similar corporate debt instruments, including convertible bonds ((including Contingent Convertible Securities (CoCos)), asset-backed securities, certificates of deposit, floating rate notes, short and medium term obligations and commercial paper and other money market instruments.
The Sub-Fund may also invest up to 10% of its Net Asset Value in loans, participations in loans or assignments of loans to borrowers (which can be corporates, sovereign governments, public bodies or others) and which will either be transferable securities, or money market instruments.
The Sub-Fund may invest up to 10% of its Net Asset Value in CoCos. Please see “Contingent Convertible Securities (CoCos) Risk” in the Prospectus for details of the risks associated with CoCos.
The Sub-Fund may invest up to 10% in other open-ended collective investment schemes (“CIS”) including money market funds and may also hold ancillary liquid assets
such as bank deposits. Investment in CIS may be used
for cash management purposes or to give exposure to the debt and debt-related securities listed in the investment policy above.
The Sub-Fund may invest up to 10% of its Net Asset Value in securities listed or traded on Russian markets. Any such investment will only be made on Eligible Markets included in Appendix II to the Prospectus.
The Sub-Fund may also invest up to 10% of its Net Asset Value in debt and debt-related securities in the People’s Republic of China (“PRC”) traded in the China interbank bond market (“CIBM”) via Bond Connect (as further described Appendix VI to the Prospectus.)

##### Benchmark
3 Month EURIBOR (the “Cash Benchmark”).
EURIBOR is the Euro Interbank Offer Rate and is a reference rate that is constructed from the average interest rate at which Eurozone banks offer unsecured short-term lending on the inter-bank market.
The Sub-Fund uses the Cash Benchmark as a target against which to measure its performance on a rolling 12 month basis after fees. The Sub-Fund uses the Cash Benchmark +3% per annum as a target against which to measure its performance on a rolling annualised 3 year basis before fees.
The Sub-Fund is actively managed, which means the Investment Manager has discretion over the selection of investments, subject to the investment objective and policy.

##### Investment Strategy
The investment strategy of the Sub-Fund is a combination of:
Credit strategy: The Investment Manager’s credit strategy based on a top-down approach that combines long-term strategic forecasts, shorter-term tactical views and
observations of market trends as well as bottom-up analysis to identify the most compelling investment opportunities.
Security selection: The Investment Manager surveys the credit universe, filtering out companies where it feels there is inadequate financial reporting or poor access to management. Companies are assessed on the basis of their credit fundamentals and other risks that could give rise to a sharp deterioration in credit quality. Only what the Investment Manager considers to be attractive opportunities, at the right valuation, are selected for the Sub-Fund.
Duration and yield curve: When managing portfolio duration, the Investment Manager is taking a view on the direction of bond yields and interest rates.
Market allocation: The Investment Manager’s assessments are based on macro-economic fundamentals. The Investment Manager utilises the
expertise of its government bond teams and its strategy team. Its government bond portfolio managers have responsibility for all aspects of economic and other research for their market. In performing their analysis, the portfolio managers consider a wide range of variables both economic and market related.
Currency selection: The Sub-Fund seeks to generate a modest level of alpha (added value) from active currency selection and management. The investment universe includes the full range of global currencies.

##### The Sustainable Finance Disclosure Regulation
When assessing the sustainability risk associated with underlying investments of the Sub-Fund, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively
impacted by an ESG event or condition (“ESG Event”).
Sustainability risks are managed by ensuring senior
decision makers are informed and included in the Investment Manager’s responsible investment programme, and set effective accountability,
transparency and implementation procedures. Where sustainability risk issues are considered material to investment outcomes, they are incorporated into due diligence processes. This may include evaluating individual securities and/or interaction with issuers or market participants. Internal controls ensure sustainability criteria are applied to The Sub-Fund continuously. ESG restrictions, which includes proprietary ESG ratings and third-party data, are set to prevent or permit investment in securities that meet sustainability- related characteristics. These controls are coded against the Sub-Fund and updated as new information is absorbed.
Corporate governance is a key sustainability risk factor forming part of proprietary ESG risk ratings for all issuers. The Investment Manager's corporate governance assessment includes evaluating board practices and behaviour, remuneration, control and accountability, and ethics or controversies. The Investment Manager applies
the insights from ESG ratings alongside their own knowledge of issuers’ governance structures to set engagement priorities with issuers. The Investment
Manager considers these risks together to decide whether an investment reasonably compensates a fund for sustainability risks over the long and short-term.
In terms of social and environmental factors, the Investment Manager’s proprietary ESG ratings methodology provides sector specific and issuer specific
information on key issues. This model helps the Investment Manager to identify key risks that a specific sector or issuer may be facing.
The Sub-Fund may underperform or perform differently relative to other comparable funds that do not integrate sustainability risks into their investment decisions and there is a risk that that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations
under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Bond Futures Interest Rate Futures Currency Futures |
| --- | --- |
| Options | Options on Interest Rate Futures Options on Currency Futures Currency Options (including FX Options) Bond Options Options on Credit Default Swaps (single name, index and custom basket) Warrants |
| Swaps | Credit Default Swaps (single name, index and custom basket) Interest Rate Swaps Inflation Swaps Currency Swaps Total Return Swaps (single name, credit, index and custom basket) |
| Forwards (de- liverable and non-deliver- able) | Forward Foreign Exchange Contracts |
| Securities with Embedded FDI/Leverage | Convertible Bonds Contingent Convertible Securities (CoCos)Asset- Backed Securities (ABS) and Mortgage-Backed Securities (MBS) |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

##### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub-Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | iTraxx Europe Index Markit CDX North American Investment Grade Index |
| Total Return Swap (TRS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying physical securities. | Markit iBoxx USD Liquid Investment Grade Total Return Index Markit iBoxx EUR Corporates Markit iBoxx USD Liquid High Yield Index Markit iBoxx EUR Liquid High Yield Index |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. The remaining financial
indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where
additional information can be found, will be set out in the Company’s semi-annual and annual accounts.

##### Long and Short Positions
The Sub-Fund may employ synthetic long and synthetic short exposures in each of the asset classes referenced in the Investment Policy to achieve its investment objective. The total net long exposure (after taking account of hedging) through FDI is not expected to exceed 500% of the Net Asset Value of the Sub-Fund and the total net short exposure is not expected to exceed 150% of the Net Asset Value of the Sub-Fund (using the commitment approach).

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Absolute VaR
Absolute VaR Limit: 5% of the Net Asset Value of the Sub-Fund (using a 5 Business Day holding period)
Gross leverage is expected to vary between: 50 – 1500% of the Net Asset Value. The gross leverage may exceed this target level at times
For more information on the Absolute VaR approach and Gross Leverage, please see “The Company – Global Exposure and Leverage” section in the Prospectus.
The Central Bank UCITS Regulations provide that where VaR is used as a risk management approach it can also be supplemented with a leverage calculation using the commitment approach.
Maximum leverage: 300% of the Net Asset Value (Using the commitment approach)
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in SFTs, i.e. securities lending arrangements and
repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 30% and in respect of SFTs shall be 100% of the Net Asset Value of the Sub-Fund. However, it is
not anticipated that the Sub-Fund’s exposure in respect
of TRS will exceed 20% and in respect of SFTs will
exceed 30% of the Net Asset Value of the Sub-Fund. The types of assets that will be subject to TRS and SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in unlaunched share classes will be issued during their respective Initial Offer Periods at their respective
initial offer price per Share of 100€, 100$, 100£, 100CHF
or 10,000¥ depending on the currency of the relevant
class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge if any applicable to the relevant class).
All applications for Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11
November respectively. Further details are set out under the heading "The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon European Credit Fund

### SUPPLEMENT 22 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.


#### The Investment Manager
Insight Investment Management (Global) Limited

#### Base Currency
Euro

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro A | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 1.00% | 0% |

| “G” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro G (Acc.) | EUR | 5,000 | 5% | 0.50% | 0% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 0.50% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro C | EUR | 5,000,000 | 5% | 0.50% | 0% |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 0.50% | 0% |
| USD I (Acc.) (hedged) | USD | 5,000,000 | 5% | 0.50% | 0% |
| USD I (Inc.) (hedged) | USD | 5,000,000 | 5% | 0.50% | 0% |
| Sterling I (Acc.) (hedged) | GBP | 5,000,000 | 5% | 0.50% | 0% |
| Sterling I (Inc.) (hedged) | GBP | 5,000,000 | 5% | 0.50% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| CHF I (Acc.) (hedged) | CHF | 5,000,000 | 5% | 0.50% | 0% |
| JPY I (Acc.) (hedged) | JPY | 500,000,000 | 5% | 0.50% | 0% |
| JPY I (Inc.) (hedged) | JPY | 500,000,000 | 5% | 0.50% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| EUR W (Acc.) | EUR | 15,000,000 | 5% | 0.40% | 0% |
| EUR W (Inc.) | EUR | 15,000,000 | 5% | 0.40% | 0% |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.40% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.40% | 0% |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.40% | 0% |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.40% | 0% |
| CHF W (Acc.) | CHF | 15,000,000 | 5% | 0.40% | 0% |
| CHF W (Inc.) | CHF | 15,000,000 | 5% | 0.40% | 0% |
| USD W (Acc.) (hedged) | USD | 15,000,000 | 5% | 0.40% | 0% |
| USD W (Inc.) (hedged) | USD | 15,000,000 | 5% | 0.40% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.40% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.40% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.40% | 0% |
| CHF W (Inc.) (hedged) | CHF | 15,000,000 | 5% | 0.40% | 0% |
| JPY W (Acc.) (hedged) | JPY | 1,500,000,000 | 5% | 0.40% | 0% |
| JPY W (Inc.) (hedged) | JPY | 1,500,000,000 | 5% | 0.40% | 0% |

| “X” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro X | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) | EUR | None | 0% | 0% | 0% |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| Sterling X (Acc.) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) | GBP | None | 0% | 0% | 0% |
| CHF X (Acc.) | CHF | None | 0% | 0% | 0% |
| Sterling X (Acc.) (hedged) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) (hedged) | GBP | None | 0% | 0% | 0% |
| JPY X (Acc.) (hedged) | JPY | None | 0% | 0% | 0% |
| JPY X (Inc.) (hedged) | JPY | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to generate a total return comprised of income and capital growth by investing primarily in a broad range of Euro-denominated debt and debt-related investments and in financial derivative instruments relating to such investments.

##### Investment Policy
The Sub-Fund will invest the majority of its assets in fixed or floating investment grade corporate bonds and credit related instruments denominated in Euros and listed or traded on any Eligible Markets, but may also invest in debt instruments issued by government and supranational entities and in loans and sovereign loans.
The Sub-Fund may invest directly in such instruments or via a broad range of FDI (as permitted by the UCITS Regulations and referred to below).
From time to time the Sub-Fund’s exposure to government and supranational issuers may be significant,
but exposure to corporate bonds and credit related investments will always exceed 50% of its Net Asset Value.
The Investment Manager will primarily use bottom-up credit research and analysis in its selection process, which aims to identify investments with good total return generating potential.
The Sub-Fund may invest up to 25% in sub-investment grade instruments and up to 10% emerging market debt.
The Sub-Fund may also invest in other transferable securities, either directly, or via a broad range of FDI i.e. fixed income securities (such as bonds, debentures and notes) issued by corporations (in addition to those referred to above) and governments, each of which may be fixed or floating rate.
The Sub-Fund may invest in investment grade (a credit rating at the time of purchase of at least BBB- (or its equivalent) or below investment grade (a credit rating at the time of purchase of at least Ba1/BB+ or below (or its equivalent) as determined by a Recognised Rating Agency, convertible bonds (including Contingent Convertible Securities), collective investment schemes
(“CIS”), cash, near cash assets and money market
instruments (including commercial paper and certificates
of deposit).
The Sub-Fund may invest up to 10% of its Net Asset Value in CoCos. Please see “Contingent Convertible Securities (CoCos) Risk” in the Prospectus for details of the risks associated with CoCos.
The Sub-Fund may invest up to 10% of its Net Asset Value in loans, participations in loans or assignments of loans to borrowers (which can be corporates, sovereign governments, public bodies or others) and which will either be transferable securities, or money market instruments.
The Sub-Fund may invest up to 10% of its Net Asset Value in other open-ended CIS including money market funds and may also hold ancillary liquid assets such as bank deposits. Investment in CIS may be used for cash management purposes or to give exposure to the debt and debt-related securities listed in the investment policy above.
The Sub-Fund may invest up to 10% of its Net Asset Value in securities listed or traded on Russian markets. Any such investment will only be made on Eligible Markets included in Appendix II to the Prospectus.

##### Benchmark
Markit iBoxx Euro Corporates TR Index (the “Benchmark”).
The Benchmark represents investment grade fixed- income bonds issued by public or private corporations. The Markit iBoxx Corporates Indices cover senior and subordinated debt and are classified into Financials and Non-Financials. Financials are classified further into four sectors and Non-Financials offer nine sectors, depending
on the issuer’s business scope. The iBoxx EUR Financials
and EUR Non-Financials comprise approximately 700 and
1300 bonds respectively.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has discretion to invest outside the Benchmark subject to the investment objective and policy. However, as the Benchmark covers a significant
proportion of the investable universe, the majority of the Sub-Fund’s holdings will be constituents of the Benchmark and the weightings in the portfolio may be
similar to those of the Benchmark. The investment strategy will restrict the extent to which the portfolio holdings may deviate from the Benchmark and consequently the extent to which the Sub-Fund can outperform the Benchmark.

##### Investment Strategy
The investment strategy of the Sub-Fund is a combination of:
- understanding the current and future macroeconomic environment, for employment levels, inflation, interest rates, and what impact these factors may have on Debt and Debt Related Securities and currencies. This understanding is developed using a number of sources including economic data releases, central bank policy statements and a review of historical data;and
- analysing the different asset classes that make up the investments in the Sub-Fund, i.e. credit, emerging market debt, government bonds and currency to assess their return generating potential.

Once this analysis is complete the Investment Manager can decide the asset allocation of the Sub-Fund, i.e. what percentage of the assets to invest in the asset classes.
The Investment Manager may consider factors such as expense and ease of implantation when deciding how to implement the investment strategy and gain exposure to the asset classes, e.g. using FDI or CIS rather than buying assets directly.
Selecting the individual securities within each asset class is made with input from the credit teams who specialise in specific sectors or industries, e.g. telecoms, automobiles, technology, manufacturing and government bonds.

##### The Sustainable Finance Disclosure Regulation
When assessing the sustainability risk associated with underlying investments of the Sub-Fund, the Investment Manager is assessing the risk that the value of such
underlying investments could be materially negatively impacted by an ESG event or condition (“ESG Event”). Sustainability risks are managed by ensuring senior
decision makers are informed and included in the Investment Manager’s responsible investment programme, and set effective accountability,
transparency and implementation procedures. Where sustainability risk issues are considered material to investment outcomes, they are incorporated into due diligence processes. This may include evaluating individual securities and/or interaction with issuers or market participants. Internal controls ensure sustainability criteria are applied to The Sub-Fund continuously. ESG restrictions, which includes proprietary ESG ratings and third-party data, are set to prevent or permit investment in securities that meet sustainability- related characteristics. These controls are coded against the Sub-Fund and updated as new information is absorbed.
Corporate governance is a key sustainability risk factor forming part of proprietary ESG risk ratings for all issuers. The Investment Manager's corporate governance assessment includes evaluating board practices and behaviour, remuneration, control and accountability, and ethics or controversies. The Investment Manager applies
the insights from ESG ratings alongside their own knowledge of issuers’ governance structures to set engagement priorities with issuers. The Investment
Manager considers these risks together to decide whether an investment reasonably compensates a fund for sustainability risks over the long and short-term.
In terms of social and environmental factors, the Investment Manager’s proprietary ESG ratings methodology provides sector specific and issuer specific
information on key issues. This model helps the Investment Manager to identify key risks that a specific sector or issuer may be facing.
The Sub-Fund may underperform or perform differently relative to other comparable funds that do not integrate sustainability risks into their investment decisions and there is a risk that that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of
the principal adverse impact consideration regime in Article 4 SFDR, (the “PAI regime”). The Manager is supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Currency Futures |
| --- | --- |
| Options | Currency Options (including FX Options) Bond Options |
| Swaps | Credit Default Swaps (single name, index and custom basket) Interest Rate Swaps Inflation Swaps Currency Swaps Cross Currency Swaps Total Return Swaps (single name, credit, index and custom basket) |
| Forwards (de- liverable and non-deliver- able) | Forward Foreign Exchange Contracts |

| Securities with Embedded FDI/Leverage | Convertible Bonds Contingent Convertible Securities (CoCos) |
| --- | --- |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both efficient portfolio management (EPM) and investment purposes. The Sub- Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | iTraxx Europe Index |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. However, as the Sub- Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where
additional information can be found, will be set out in the Company’s semi-annual and annual accounts.

##### Long and Short Positions
The Sub-Fund may employ synthetic long and synthetic short exposures in each of the asset classes referenced in the Investment Policy to achieve its investment objective. The total net long exposure (after taking account of hedging) through FDI is not expected to exceed 100% of the Net Asset Value of the Sub-Fund and the total net short exposure is not expected to exceed 100% of the Net Asset Value of the Sub-Fund (using the commitment approach).

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Relative VaR
Relative VaR Limit: Sub-Fund’s portfolio will not exceed twice the VaR on a representative benchmark portfolio (using a 5 Business Day holding period)
Relative VaR Benchmark: Markit iBoxx Euro Corporates Index
Gross leverage is expected to vary between: 0 – 500% of the Net Asset Value. The gross leverage may exceed this target level at times.
For more information on the Relative VaR approach and Gross Leverage, please see “The Company – Global Exposure and Leverage” section in the Prospectus.
The Central Bank UCITS Regulations provide that where VaR is used as a risk management approach it can also be supplemented with a leverage calculation using the commitment approach.
Maximum leverage: 200% of the Net Asset Value (Using the commitment approach)
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions
and limits set out in the Central Bank UCITS Regulations. Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in SFTs, i.e. securities lending arrangements and
repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 30% and in respect of SFTs shall be 100% of the Net Asset Value of the Sub-Fund. However, it is
not anticipated that the Sub-Fund’s exposure in respect
of TRS will exceed 20% and in respect of SFTs will
exceed 30% of the Net Asset Value of the Sub-Fund. The types of assets that will be subject to TRS and SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in unlaunched share classes will be issued during
their respective Initial Offer Periods at their respective initial offer price per Share of 100$, 100£, 100€, 100CHF
or 10,000¥ depending on the currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge if any applicable to the relevant class).
All applications for Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11 November respectively. Further details are set out under
the heading "The Company - Distribution Policy” in the
Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The Annual Management Charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Global Real Return Fund (GBP)

### SUPPLEMENT 23 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.
- The Sub-Fund may invest substantially in deposits with credit institutions. Although the Sub-Fund may invest in money market instruments and cash deposits, Shares in the Sub-Fund are not deposits and are different in nature to a deposit in that the investment is not guaranteed and the value of the investment is capable of fluctuation. Investment in the Sub-Fund involves certain investment risks, including the possible loss of principal.


#### The Investment Manager
Newton Investment Management Limited

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its investment management functions with respect to this
Sub-Fund to Newton Investment Management North America LLC (the “Sub-Investment Manager”). Details of the Sub-Investment Management Agreement between the
Investment Manager and the Sub-Investment Manager are set out under the heading “Sub-Investment Managers” in the Prospectus.

#### Base Currency
Sterling

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| Sterling A (Acc.) | GBP | 5,000 | 5% | 1.50% | 0% | SONIA (30-day compounded) + 4% |
| Sterling A (Inc.) | GBP | 5,000 | 5% | 1.50% | 0% | SONIA (30-day compounded) + 4% |

| “B” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| Sterling B (Acc.)* | GBP | 10,000 | 5% | 1.50% | 0% | SONIA (30-day compounded) + 4% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| --- | --- | --- | --- | --- | --- | --- |
| Sterling B (Inc.)* | GBP | 10,000 | 5% | 1.50% | 0% | SONIA (30-day compounded) + 4% |

*	share class is closed to new investors.
| “G” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| Sterling G (Acc.) | GBP | 5,000 | 5% | 1.00% | 0% | SONIA (30-day compounded) + 4% |
| Sterling G (Inc.) | GBP | 5,000 | 5% | 1.00% | 0% | SONIA (30-day compounded) + 4% |

| “C” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| Sterling C (Acc.) | GBP | 5,000,000 | 5% | 1.00% | 0% | SONIA (30-day compounded) + 4% |
| Sterling C (Inc.) | GBP | 5,000,000 | 5% | 1.00% | 0% | SONIA (30-day compounded) + 4% |

| “W” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.75% | 0% | SONIA (30-day compounded) + 4% |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.75% | 0% | SONIA (30-day compounded) + 4% |

| “X” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| Sterling X (Acc.) | GBP | None | 0% | 0% | 0% | SONIA (30-day compounded) + 4% |
| Sterling X (Inc.) | GBP | None | 0% | 0% | 0% | SONIA (30-day compounded) + 4% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The objective of the Sub-Fund is to achieve a total return in excess of a cash benchmark (as described below) over an investment horizon of 3-5 years.

##### Investment Policy
The Sub-Fund will use its ability to invest freely in a wide range of asset classes, aiming to have a reasonably moderate risk exposure at any point in time. The Sub- Fund is a multi-asset global portfolio. Allocations will be
made at the Investment Manager’s discretion, based upon the Investment Manager’s proprietary global thematic investment approach, both within each asset
class and among the asset classes. The Sub-Fund need not be invested in all of the asset classes at any one time.
In general, the Sub-Fund may invest in equity and equity- related securities, debt and debt-related securities, FDI
(including currency related FDI), collective investment schemes (“CIS”), deposits, cash, money market instruments and cash equivalents, each of which is
discussed in more detail below.
In relation to the equity and equity-related securities that the Sub-Fund may invest in, these will be principally, but not limited to common shares, preference shares, securities convertible into or exchangeable for such equities, American Depositary Receipts and Global Depository Receipts listed or traded on Eligible Markets located worldwide.
In relation to the debt and debt-related securities that the Sub-Fund may invest in, these will be principally, but not limited to international, emerging market sovereign, government, supranational agency, corporate, bank and other bonds and other debt and debt-related securities such as debentures, notes (including corporate, sovereign, floating and fixed rate notes with a minimum term of one year or more) and asset and mortgage- backed securities, each of which may be fixed or floating rate.
The Sub-Fund may invest in investment grade or below investment grade, as determined by a Recognised Rating Agency. Investment in sub-investment grade fixed income
securities is not expected to exceed 30% of the Sub- Fund’s Net Asset Value and will generally be substantially lower than 30%.
The Sub-Fund may invest up to 10% of its Net Asset Value in CoCos. Please see “Contingent Convertible Securities (CoCos) Risk” in the Prospectus for details of the risks associated with CoCos.
The Sub-Fund may invest up to 10% of its Net Asset Value in Structured Notes.
The Sub-Fund will not invest more than 10% of its Net Asset Value in aggregate in CIS.
To provide liquidity and cover for exposures generated through the use of FDI, the majority of the Sub-Fund’s assets may, at any one time, be invested in cash, money
market instruments including, but not limited to, commercial paper, government bonds which may be fixed or floating rate and investment grade or below investment grade (as determined by a Recognised Rating Agency), certificates of deposit and CIS.
The Sub-Fund may invest in commodities, property, renewable energy and infrastructure through a combination of CIS (including open-ended exchange traded funds), equity and equity-related securities (such
as listed real estate investment trusts (“REITS”) and other
closed end listed funds) and fixed income securities
(such as exchange traded notes (including exchange traded commodities and exchange traded certificates)). Any investment in closed-ended listed funds shall constitute an investment in a transferable security in accordance with the requirements of the Central Bank.
The Sub-Fund is not subject to any specific geographic or market sector.
The Sub-Fund may invest up to 10% of its Net Asset Value in securities listed or traded on Russian markets. Any such investment will only be made on Eligible Markets included in Appendix II to the Prospectus. Where the Sub-Fund invests in emerging market equity and equity-related securities, these will comprise of
companies having their registered office in, or exercising the predominant part of their economic activity in, emerging market countries.
The Sub-Fund may also invest up to 10% of its Net Asset Value in debt and debt-related securities in the People’s Republic of China (“PRC”) traded in the China interbank bond market (“CIBM”) via Bond Connect (as further described Appendix VI to the Prospectus.)
Methods of gaining exposure to Chinese securities may include purchasing China A-shares via the Stock Connect. The Sub-Fund may invest up to 10% of its Net Asset Value in China A-shares via the Stock Connect. Further details about the Stock Connect are set out in Appendix V to the Prospectus.
The Sub-Fund may invest up to 10% of its Net Asset Value in transferable securities not listed or traded on Eligible Markets.

##### Benchmark
SONIA (30-day compounded) + 4% per annum (the “Cash Benchmark”).
The Sub-Fund uses the Cash Benchmark as a target set for the Sub-Fund’s performance to match or exceed over 5 years before fees.
SONIA (Sterling Overnight Index Average) is an interest rate benchmark. SONIA is based on actual transactions and reflects the average of the interest rates that banks pay to borrow sterling overnight from other financial institutions and other institutional investors.
The Sub-Fund is actively managed, which means the Investment Manager has discretion over the selection of investments, subject to the investment objective and policy.

##### Investment Strategy
The investment philosophy is based upon the conviction of the Investment Manager that no company, market or economy can be considered in isolation; each must be understood in a global context. The Investment Manager believes that events occurring around the world influence all financial markets and therefore successful investment in internationally diversified securities requires a thorough understanding of the world as a whole.
The Investment Manager identifies themes which encompass the major areas of change in the world and use these themes as the basis of their investment ideas. This global, thematic approach allows the Investment Manager to gain long-term perspective on global financial
markets and economies and always to consider the ‘big picture’. Perspective is a defining feature of their investment process; it helps them to anticipate how the
world will change and it directs analysts and portfolio managers towards profitable opportunities.
The Global Real Return strategy is an actively managed multi-asset strategy, investing predominantly in
‘conventional’ assets, with the use of FDI to protect
capital or to generate income. The multi-asset targeted
return portfolios are constructed holistically and follow an unconstrained investment approach, with no regional, sector or indices constraints. The Investment Manager customises the investment characteristics that we seek to the changes we see in the investing environment. The
asset allocation of the Sub-Fund may change according to the Investment Manager’s views of fundamental
economic and market conditions and investment trends across the globe, taking into consideration factors such as liquidity, costs, timing of execution, relative attractiveness of individual securities and issuers available in the market.

##### The Sustainable Finance Disclosure Regulation
The consideration of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying
investments could be materially negatively impacted by an ESG event or condition (“ESG Event”).
The Investment Manager has access to a variety of ESG- related data points provided by third party data which assists with the identification of potential ESG-related issues that an issuer may be facing. This includes but is not limited to exposure to activities that may be deemed harmful to the environment or society. This data, along
with data from the Investment Manager’s own proprietary
responsible investment research resources, forms a central part of the Investment Manager’s consideration and assessment of the level of sustainability risk that an
investment may be subject to.
This assessment is integrated in to the security level research process, which is based upon fundamental analysis of individual investment opportunities across a number of different factors including:
- Fundamental financial or economic characteristics
- Valuation
- Risk/reward profile
- The ESG characteristics of the issuer, including understanding how such considerations can impact economic returnsThe information gathered from the fundamental analysis conducted will be taken into account by the Investment Manager in deciding whether to acquire a holding in an issuer or continue to hold a position.

As explained above, the assessment and management of sustainability risks forms an important part of the
Investment Manager’s due diligence process, however,
there may still be a risk that the value of the Sub-Fund
could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of
the principal adverse impact consideration regime in Article 4 SFDR, (the “PAI regime”). The Manager is supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations
under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Currency Futures Government Bond Futures Equity Index Futures Volatility Index Futures Equity Futures |
| --- | --- |
| Options | Equity Options (single name, index, sector custom basket) Low Exercise Price Options (LEPOs) and Low Exercise Price Warrants (LEPWs) Index Options Bond Options Options on Currency Futures Swaptions Options on Volatility Indices Currency Options (including FX Options) Options on Futures |
| Swaps | Credit Default Swaps (single name, index and custom basket) Interest Rate Swaps Equity Swaps (single name, index, sector and custom basket) Variance Swaps Total Return Swaps (single name, credit, index and custom basket) Contracts for Difference |
| Forwards | Forward Foreign Exchange Contracts |
| Securities with Embedded FDI/Leverage | Convertible Bonds Contingent Convertible Securities (CoCos) Asset-Backed Securities (ABS) Mortgage-Backed Securities (MBS) Warrants Structured Notes |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub- Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit iTraxx CDS Index |

| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Equity indices to provide exposure to regional and global equity markets in a more cost effective or efficient manner than buying the physical securities. | Borsa Istanbul 30 Dax 30 Index Euro Stoxx 50 Index FTSE 100 Index FTSE All Share Index FTSE World Index Hang Seng Index KOSPI Index MDAX Index MSCI All Countries World Index MSCI Emerging Markets Index Nasdaq Composite Index Nikkei 225 Index Russell 2000 Index S&P/ASX 200 Index S&P/TSX Composite Index S&P 500 Index Stoxx Europe 600 Index Stoxx Europe Small 200 |
| Volatility indices to provide exposure express the Investment Manager’s view on the volatility of a particular market or currency in a more cost effective or efficient manner than buying the physical securities. | Chicago Board Options Exchange SPX Volatility Index |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. The remaining financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX–Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where additional information can be found, will be set out in the
Company’s semi-annual and annual accounts.

##### Long and Short Positions
The Sub-Fund may employ synthetic long and synthetic short exposures in each of the asset classes referenced in the Investment Policy to achieve its investment objective. The total net long exposure (after taking account of hedging) through FDI is not expected to exceed 100% of the Net Asset Value of the Sub-Fund and the total net short exposure is not expected to exceed 100% of the Net Asset Value of the Sub-Fund (using the commitment approach).

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Absolute VaR
Absolute VaR Limit: Sub-Fund’s portfolio will not exceed 20% of the Net Asset Value (using a 20 Business Day holding period).
Gross leverage is expected to vary between: 0% to 1000% of the Sub-Fund’s Net Asset Value. The gross leverage may exceed this target level at times.
For more information on the Absolute VaR approach and Gross Leverage, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in SFTs, i.e. securities lending arrangements and
repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 100% and in respect of SFTs shall be 100%
of the Net Asset Value of the Sub-Fund. However, it is not anticipated that the Sub-Fund’s exposure in respect of TRS will exceed 30% and in respect of SFTs will
exceed 15% of the Net Asset Value of the Sub-Fund. The types of assets that will be subject to TRS and SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1£ depending on the currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset
Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will
normally be paid on or before 11 February. Further details are set out under the heading “The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors’ attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Global Emerging Markets Fund

### SUPPLEMENT 24 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- The Sub-Fund’s Net Asset Value may have a high level of volatility due to its investment policy.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
Newton Investment Management Limited

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Sterling A (Acc.) | GBP | 5,000 | 5% | 2.00% | 0% |
| Sterling A (Inc.) | GBP | 5,000 | 5% | 2.00% | 0% |
| Euro A | EUR | 5,000 | 5% | 2.00% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 2.00% | 0% |
| USD A | USD | 5,000 | 5% | 2.00% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 2.00% | 0% |
| CHF A (Acc.) | CHF | 5,000 | 5% | 2.00% | 0% |
| CHF A (Inc.) | CHF | 5,000 | 5% | 2.00% | 0% |
| DKK A (Acc.) | DKK | 50,000 | 5% | 2.00% | 0% |
| NOK A (Acc.) | NOK | 50,000 | 5% | 2.00% | 0% |
| SEK A (Acc.) | SEK | 50,000 | 5% | 2.00% | 0% |
| Euro H (hedged) | EUR | 5,000 | 5% | 2.00% | 0% |
| Euro H (Inc.) (hedged) | EUR | 5,000 | 5% | 2.00% | 0% |
| Sterling H (Acc.) (hedged) | GBP | 5,000 | 5% | 2.00% | 0% |
| Sterling H (Inc.) (hedged) | GBP | 5,000 | 5% | 2.00% | 0% |
| CHF H (Acc.) (hedged) | CHF | 5,000 | 5% | 2.00% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| CHF H (Inc.) (hedged) | CHF | 5,000 | 5% | 2.00% | 0% |

| “B” Shares and “J (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro B (Acc.) | EUR | 10,000 | 5% | 1.50% | 0% |
| Euro B (Inc.) | EUR | 10,000 | 5% | 1.50% | 0% |
| USD B (Acc.) | USD | 10,000 | 5% | 1.50% | 0% |
| USD B (Inc.) | USD | 10,000 | 5% | 1.50% | 0% |
| CAD B (Acc.) | CAD | 10,000 | 5% | 1.50% | 0% |
| SGD B (Acc.) | SGD | 10,000 | 5% | 1.50% | 0% |
| SGD B (Inc.) | SGD | 10,000 | 5% | 1.50% | 0% |
| AUD B (Acc.) | AUD | 10,000 | 5% | 1.50% | 0% |
| CNH B (Acc.) | CNH | 100,000 | 5% | 1.50% | 0% |
| HKD B (Acc.) | HKD | 100,000 | 5% | 1.50% | 0% |
| Euro J (Acc.) (hedged) | EUR | 10,000 | 5% | 1.50% | 0% |
| CAD J (Acc.) (hedged) | CAD | 10,000 | 5% | 1.50% | 0% |
| SGD J (Acc.) (hedged) | SGD | 10,000 | 5% | 1.50% | 0% |
| SGD J (Inc.) (hedged) | SGD | 10,000 | 5% | 1.50% | 0% |
| AUD J (Acc.) (hedged) | AUD | 10,000 | 5% | 1.50% | 0% |
| CNH J (Acc.) (hedged) | CNH | 100,000 | 5% | 1.50% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 1.00% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 1.00% | 0% |
| Euro G (Acc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| CHF G (Acc.) | CHF | 5,000 | 5% | 1.00% | 0% |
| CHF G (Inc.) | CHF | 5,000 | 5% | 1.00% | 0% |
| Euro G (Acc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Sterling C (Acc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Inc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Euro C (Acc.) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| USD C | USD | 5,000,000 | 5% | 1.00% | 0% |
| USD C (Acc.) | USD | 5,000,000 | 5% | 1.00% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 1.00% | 0% |
| CHF C (Acc.) | CHF | 5,000,000 | 5% | 1.00% | 0% |
| CHF C (Inc.) | CHF | 5,000,000 | 5% | 1.00% | 0% |
| Sterling I (Acc.) (hedged) | GBP | 5,000,000 | 5% | 1.00% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| Sterling I (Inc.) (hedged) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| CHF I (Acc.) (hedged) | CHF | 5,000,000 | 5% | 1.00% | 0% |
| CHF I (Inc.) (hedged) | CHF | 5,000,000 | 5% | 1.00% | 0% |
| SGD I (Acc.) (hedged) | SGD | 5,000,000 | 5% | 1.00% | 0% |
| SGD I (Inc.) (hedged) | SGD | 5,000,000 | 5% | 1.00% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.75% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Acc.) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Acc.) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Inc.) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| CAD W (Acc.) | CAD | 15,000,000 | 5% | 0.75% | 0% |
| AUD W (Acc.) | AUD | 15,000,000 | 5% | 0.75% | 0% |
| HKD W (Acc.) | HKD | 150,000,000 | 5% | 0.75% | 0% |
| SGD W (Acc.) | SGD | 15,000,000 | 5% | 0.75% | 0% |
| CNH W (Acc.) | CNH | 150,000,000 | 5% | 0.75% | 0% |
| DKK W (Acc.) | DKK | 150,000,000 | 5% | 0.75% | 0% |
| NOK W (Acc.) | NOK | 150,000,000 | 5% | 0.75% | 0% |
| SEK W (Acc.) | SEK | 150,000,000 | 5% | 0.75% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Inc.) (hedged) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| CAD W (Acc.) (hedged) | CAD | 15,000,000 | 5% | 0.75% | 0% |
| AUD W (Acc.) (hedged) | AUD | 15,000,000 | 5% | 0.75% | 0% |
| SGD W (Acc.) (hedged) | SGD | 15,000,000 | 5% | 0.75% | 0% |
| SGD W (Inc.) (hedged) | SGD | 15,000,000 | 5% | 0.75% | 0% |
| CNH W (Acc.) (hedged) | CNH | 150,000,000 | 5% | 0.75% | 0% |

| “E” Shares and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro E (Acc.) | EUR | As agreed | 5% | 0.45% | 0% |
| Euro E (Inc.) | EUR | As agreed | 5% | 0.45% | 0% |
| USD E (Acc.) | USD | As agreed | 5% | 0.45% | 0% |
| USD E (Inc.) | USD | As agreed | 5% | 0.45% | 0% |
| Sterling E (Acc.) | GBP | As agreed | 5% | 0.45% | 0% |
| Sterling E (Inc.) | GBP | As agreed | 5% | 0.45% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| CHF E (Acc.) | CHF | As agreed | 5% | 0.45% | 0% |
| CHF E (Inc.) | CHF | As agreed | 5% | 0.45% | 0% |
| Euro E (Acc.) (hedged) | EUR | As agreed | 5% | 0.45% | 0% |
| Euro E (Inc.) (hedged) | EUR | As agreed | 5% | 0.45% | 0% |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.45% | 0% |
| Sterling E (Inc.) (hedged) | GBP | As agreed | 5% | 0.45% | 0% |
| CHF E (Acc.) (hedged) | CHF | As agreed | 5% | 0.45% | 0% |
| CHF E (Inc.) (hedged) | CHF | As agreed | 5% | 0.45% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Sterling X (Acc.) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) | GBP | None | 0% | 0% | 0% |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) | EUR | None | 0% | 0% | 0% |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| CHF X (Acc.) | CHF | None | 0% | 0% | 0% |
| CHF X (Inc.) | CHF | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The objective of the Sub-Fund is to achieve long-term capital growth.

##### Investment Policy
The Sub-Fund invests primarily (meaning at least three- quarters of the Sub-Fund’s Net Asset Value), in equity and equity-related securities of companies listed, traded,
located in or deriving the majority of their revenue or income from emerging market countries (including, but not limited to, Brazil, Chile, China, India, Indonesia, Korea, Mexico, Philippines, Taiwan and South Africa).
The Sub-Fund’s holdings will be listed or traded on Eligible Markets.
The equity securities in which the Sub-Fund will invest will be principally, but not limited to, common shares, preference shares, securities convertible into or exchangeable for such equities (such as convertible preferred stock), American Depositary Receipts and Global Depository Receipts.
The Sub-Fund may also invest in exchange traded funds (“ETFs”) and exchange traded notes (“ETNs”) listed or traded on Eligible Markets located worldwide in order to
provide exposure to equity markets. Any investment in open-ended ETFs will be in accordance with the
investment limits for collective investment schemes (“CIS”) (up to 10% of Sub-Fund’s Net Asset Value) and any investment in closed-ended ETFs will be up to 5% of
Sub-Fund’s Net Asset Value. Investments in ETNs will not exceed 20% of the Sub-Fund’s Net Asset Value.
The Sub-Fund may also invest in aggregate up to 30% of its Net Asset Value in equity securities of Real Estate Investment Trusts (REITS), Real Estate Operating Companies (REOCs) and equity securities of companies whose principal business is the ownership, management and/or development of income producing and for-sale real estate in emerging market economies in order to provide exposure to equity markets. REITS are a type of pooled investment vehicle which invests in real property or real property related loans or interests listed, traded or dealt in on Eligible Markets. They are established
effectively as a “pass through” entity, the effect of which
is to transfer the income and gains of the business
through the company exempt of tax to investors who will then assume the tax liabilities. Tax treatment is not identical in each country. REOCs are companies which engage in the development, management or financing of real estate. They typically provide such services as property management, property development, facilities management, real estate financing and related businesses. REOCs are publicly traded real estate companies that have chosen not to be taxed as REITs.
The three primary reasons for choosing these securities are:
- the availability of tax-loss carry-forwards,
- operation in non-REIT-qualifying lines of business, and;
- the ability to retain earnings.

The Investment Manager intends for the Sub-Fund to have a broad industry exposure. There is also no restriction on market capitalisation in relation to the equity and equity-related securities which the Sub-Fund may invest in. Stock selection focuses on companies
which have strong fundamentals and are attractively valued with the aim of delivering long-term capital growth. The Sub-Fund is predominantly an equities portfolio. Allocations are made at the Investment
Manager’s discretion, based upon the Investment Manager’s proprietary global thematic investment approach. The Investment Manager’s process is
characterised by an active bottom up stock picking
approach, where the dedicated global analysts and fund managers narrow down the stock universe by using global themes based on political, cultural and demographic factors for change, which enables the Sub-Fund to identify forces of change over the longer term. Such
global themes include ‘financial concentration’, which
evaluates the implications of the post-crisis banking sector, ‘state intervention’, which underscores the heightened role of states across the world in the life of economies and financial markets, and ‘networked world’, which observes how networks now allow information to
flow between entities which may have previously been unconnected, and how this presents unprecedented opportunities and risks for both web-based and traditional business models.
The Sub-Fund may utilise participatory notes, (P-Notes) (up to 30% of its Net Asset Value) that are listed or traded on Eligible Markets located worldwide. The issuer, of such P-Notes will be regulated. P-Notes are used for efficient portfolio management purposes and provide the Sub-Fund with the opportunity for economic exposure to specific equities in markets where owning the local shares might be less efficient than investing in the
P-Note. The types of P-Notes which the Sub-Fund may use are low exercise price options (LEPOs) and low exercise price warrants (LEPWs). LEPOs/LEPWs allow investors to profit from movements in the underlying security.
Methods of gaining exposure to Chinese securities may include purchasing China A-shares via the Stock Connect. The Sub-Fund may invest up to 30% of its Net Asset Value in China A-shares via the Stock Connect. Further details about the Stock Connect are set out in Appendix V to the Prospectus.
The Sub-Fund may invest up to 10% of its Net Asset Value in securities listed or traded on the Moscow Exchange, and up to 10% of its Net Asset Value in transferable securities not listed or traded on Eligible Markets.
The Sub-Fund may also invest, on an ancillary basis, in a broad range of liquid, near cash or debt or debt-related securities issued or guaranteed by any sovereign government or their agencies, local authority, supranational or public international bodies, banks, corporates or other commercial issuers. It is intended that issuers and/or guarantors of any such debt or debt- related securities will have a credit rating at the time of purchase of at least an investment grade rating of A1/P1 (or its equivalent) from a Recognised Rating Agency or, if unrated, will be deemed by the Investment Manager to be of equivalent quality. Debt and debt-related securities shall include bank deposits, treasury bills and notes, securities debentures, bonds, asset-backed and mortgage-backed securities which will not be leveraged, certificates of deposit, floating rate notes, and commercial paper. Such debt securities may be fixed or floating rate, rated a minimum investment grade rating of AA (or its equivalent) from a Recognised Rating Agency (or, if unrated, will be deemed by the Investment Manager
to be of equivalent quality) and may have maturities longer than 1 year. For the purposes of this paragraph, in order to determine whether an unrated issuer/guarantor or debt security is of the relevant equivalent quality, the Investment Manager uses an internally established methodology which incorporates non-financial and
financial characteristics of the issuer, and, where available, the issuer’s credit ratings, as well as benchmarking against rated peers.

##### Benchmark
MSCI Emerging Markets NR Index (the “Benchmark”).
The Benchmark is a float-adjusted market capitalisation index that is designed to measure equity market performance of large and mid cap representation across global emerging markets. The Benchmark covers approximately 85% of the free float-adjusted market capitalisation in each country it covers which currently includes: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Peru, Philippines, Poland, Russia, Qatar, South Africa, Taiwan, Thailand, Turkey and United Arab Emirates.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest
outside the Benchmark subject to the investment objective and policy. While the Sub-Fund’s holdings may include constituents of the Benchmark, the selection of
investments and their weightings in the portfolio are not influenced by the Benchmark. The investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.

##### Investment Strategy
The investment philosophy is based upon the conviction of the Investment Manager that no company, market or economy can be considered in isolation; each must be understood in a global context. The Investment Manager believes that events occurring around the world influence all financial markets, and therefore successful investment in emerging-market equities requires, a thorough understanding of the world as a whole.
The global investment themes of the Investment Manager seek to identify what they consider to be important trends, encompassing major areas of change in the
world. The Investment Manager uses these themes as the basis of their investment ideas. This global and thematic approach allows the Investment Manager to gain long-
term perspective on global financial markets and economies and to consider the ‘big picture’. Perspective is a defining feature of their investment process as it
helps them to anticipate how the world will change and directs analysts and portfolio managers towards potentially profitable opportunities.
The Investment Manager’s global emerging markets equity portfolios are constructed holistically using a research-driven/’bottom-up’ investment process. Their approach concentrates on seeking to invest in
attractively valued stocks of companies with good prospects and strong fundamentals. The Investment Manager looks in particular for balance sheet strength, durable returns on capital and management teams which emphasise the interests of shareholders.

##### The Sustainable Finance Disclosure Regulation
The consideration of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively impacted by
an ESG event or condition (“ESG Event”).
The Investment Manager has access to a variety of ESG- related data points provided by third party data which assists with the identification of potential ESG-related issues that an issuer may be facing. This includes but is not limited to exposure to activities that may be deemed
harmful to the environment or society. This data, along with data from the Investment Manager’s own proprietary responsible investment research resources, forms a central part of the Investment Manager’s consideration and assessment of the level of sustainability risk that an
investment may be subject to.
This assessment is integrated in to the security level research process, which is based upon fundamental analysis of individual investment opportunities across a number of different factors including:
- Fundamental financial or economic characteristics
- Valuation
- Risk/reward profile
- The ESG characteristics of the issuer, including understanding how such considerations can impact economic returnsThe information gathered from the fundamental analysis conducted will be taken into account by the Investment Manager in deciding whether to acquire a holding in an issuer or continue to hold a position.

As explained above, the assessment and management of
sustainability risks forms an important part of the Investment Manager’s due diligence process, however, there may still be a risk that the value of the Sub-Fund
could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Registration in Germany
This Sub-Fund is registered for sale in Germany. The Sub- Fund is classified as an Equity Fund for German tax purposes and as such it will permanently invest more than 50% of its assets in equities as defined in article 2 paragraph 8 of the German Investment Tax Act.

#### Registration in Hong Kong
This Sub-Fund is registered for sale in Hong Kong.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 50% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
In utilising FDI for EPM purposes, the Sub-Fund may gain indirect exposure to financial indices.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. securities lending
arrangements and repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of SFTs shall be 100% of the Net Asset Value of the Sub-
Fund. However, it is not anticipated that the Sub-Fund’s
exposure to the SFTs will exceed 15% of the Net Asset
Value. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.be assets which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class
shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1£, 1€, 1CHF, 1CAD, 1AUD, 1SGD, 10HKD, 10CNH, 10DKK, 10NOK or
10SEK, depending on the currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will
normally be paid on or before 11 February. Further details are set out under the heading “The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors’ attention is also drawn to the section entitled
“Risk Factors” in the Prospectus.

## BNY Mellon Emerging Markets Debt Opportunistic Fund

### SUPPLEMENT 25 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- Management fees and other fees and expenses of the Sub-Fund will be charged to the capital of the Sub-Fund to seek to maximise distributions. See “Fees and Expenses” in the Prospectus for further details.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors– Transferable Securities, FDI and Other Techniques Risks”.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
Insight Investment Management (Global) Limited
The Investment Manager may delegate its investment management functions to a Sub-Investment Manager and/or appoint a sub-investment adviser to provide investment advice in accordance with the requirements of the Central Bank. As at the date of this Supplement, the Investment Manager has appointed the Sub- Investment Manager, as described below.

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its investment management functions with respect to this
Sub-Fund to Insight North America LLC (the “Sub- Investment Manager”). Details of the Sub-Investment Management Agreement between the Investment
Manager and the Sub-Investment Manager are set out under the heading “Sub-Investment Managers” in the Prospectus.

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro A | EUR | 5,000 | 5% | 1.50% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 1.50% | 0% |
| USD A | USD | 5,000 | 5% | 1.50% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 1.50% | 0% |
| Sterling A (Acc.) | GBP | 5,000 | 5% | 1.50% | 0% |
| Sterling A (Inc.) | GBP | 5,000 | 5% | 1.50% | 0% |
| CHF A (Acc.) | CHF | 5,000 | 5% | 1.50% | 0% |
| Euro H (Acc.) (hedged) | EUR | 5,000 | 5% | 1.50% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| Euro H (Inc.) (hedged) | EUR | 5,000 | 5% | 1.50% | 0% |
| Sterling H (Acc.) (hedged) | GBP | 5,000 | 5% | 1.50% | 0% |
| Sterling H (Inc.) (hedged) | GBP | 5,000 | 5% | 1.50% | 0% |
| CHF H (Acc.) (hedged) | CHF | 5,000 | 5% | 1.50% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 1.00% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 1.00% | 0% |
| Euro G (Acc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro C | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| USD C | USD | 5,000,000 | 5% | 1.00% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Acc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Inc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| CHF C (Acc.) | CHF | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Sterling I (Acc.) (hedged) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Sterling I (Inc.) (hedged) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| CHF I (Acc.) (hedged) | CHF | 5,000,000 | 5% | 1.00% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.65% | 0% |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.65% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.65% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.65% | 0% |
| Euro W | EUR | 15,000,000 | 5% | 0.65% | 0% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.65% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.65% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.65% | 0% |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.65% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.65% | 0% |
| CHF W (Acc.) | CHF | 15,000,000 | 5% | 0.65% | 0% |

| “X” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) | EUR | None | 0% | 0% | 0% |
| Sterling X (Acc.) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) | GBP | None | 0% | 0% | 0% |
| USD X | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| JPY X (Acc.) | JPY | None | 0% | 0% | 0% |
| CHF X (Acc.) | CHF | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The investment objective of the Sub-Fund is to maximise the total return from income and capital growth from a fixed income portfolio of bonds and other debt instruments including derivatives thereon issued by governments, agencies and corporations in emerging market economies.

##### Investment Policy
The Sub-Fund will primarily invest in a portfolio of emerging market bonds and other debt securities, or FDI thereon as set out below (including currency forwards), denominated in U.S. Dollars or in the local currency of issue.
The emerging market securities that the Sub-Fund may invest in include the fixed or floating rate bonds of international sovereign, government, supranational, agency and corporate issuers, as well as credit related instruments (including credit linked notes and credit default swaps) and mortgage-backed and asset-backed securities, or FDI thereon.
Such securities will be listed or traded on Eligible Markets or markets located worldwide. The Investment Manager will not be restricted by credit quality or maturity when making investment decisions. Therefore no minimum credit rating will apply to the investments of the Sub-Fund.
Emerging markets comprise countries whose gross national product (GNP) per capita is below the upper quartile as classified by the World Bank, or countries that are included in emerging market bond or equity indices such as, for example, JPM EMBI Global, JPM GBI-EM Broad, JPM CEMBI Broad, JPM ELMI+, MSCI EM, or the newly industrialized Asian economies as classified by the World Bank/IMF, or Middle Eastern countries, or countries that exhibit an elevated level of sovereign risk (due to financial/economic conditions or political/geopolitical factors). The Investment Manager has broad discretion to determine, within the above parameters, what constitutes an emerging market country. The Sub-Fund is likely to invest in, but is not limited to, countries in Asia, Latin America, the Middle East, Africa, Central and Eastern Europe, and the former Soviet Union.
The Sub-Fund may also invest up to 10% of its Net Asset Value in loans (including loan participations/loan participation notes and loan assignments), which will either be transferable securities or money market instruments.
The Sub-Fund may also invest up to 10% in other open- ended collective investment schemes (“CIS”) including money market funds and may also hold ancillary liquid
assets such as bank deposits. Investment in CIS may be used for cash management purposes or to give exposure to instruments listed in the investment policy above.
The Sub-Fund may invest up to 20% of its Net Asset Value in securities listed or traded on Russian markets.
For the purposes of this Sub-Fund, the Prospectus disclosure at Appendix II of the Prospectus, ‘Eligible Markets” restricting investment in securities traded on the Moscow Exchange to equity securities shall not apply
and investment in Russian securities on the Moscow Exchange shall be deemed to include both debt and equity securities.
The Sub-Fund may also invest up to 10% of its Net Asset Value in debt securities in the People’s Republic of China (“PRC”) traded in the China interbank bond market (“CIBM”) via Bond Connect (as further described Appendix VI to the Prospectus.)

##### Benchmark
50% JP Morgan Government Bond Index – Emerging Markets Global Diversified TR Index, 25% JP Morgan
Emerging Markets Bond Index Global TR Index, 25% JP Morgan Corporate Emerging Markets Bond Index
Diversified TR Index (the “Blended Benchmark”).
The JPM GBI-EM provides a comprehensive measure of local currency denominated, fixed rate, government debt issued in Emerging Markets. The index includes liquid, fixed rate, bullet bonds government securities with at least thirteen months remaining until maturity.
The JPM EMBI is a comprehensive U.S. Dollar Emerging Markets Debt benchmark. Eligible for inclusion in the index are U.S. Dollar denominated Brady bonds, Eurobonds and traded loans issued by Emerging Market sovereign and quasi-sovereign entities. The JPM CEMBI is a liquid global emerging markets corporate benchmark including U.S. Dollar denominated bonds issued by Emerging Markets corporate entities.
The Sub-Fund will measure its performance against the Blended Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest outside the Blended Benchmark subject to the investment objective and policy. While the majority of the
Sub-Fund’s holdings are expected to be constituents of,
and have similar weightings to, the Blended Benchmark,
the investment strategy does not restrict the extent to which the Investment Manager may deviate from the Blended Benchmark.

##### Investment Strategy
The Sub-Fund is an actively managed bond fund designed to maximise the total return from a fixed income portfolio of bonds and other debt instruments issued in hard or local currency by governments, agencies and corporations in emerging market economies, including the limited use of FDI. The Sub-Fund seeks to allocate its assets both strategically and tactically between U.S. Dollar denominated and local currency denominated emerging market bonds.
The Investment Manager employs a rigorous investment process based on in-depth fundamental country and corporate analysis and is supported by the discipline of quantitative models.
The managers use top-down analysis of macroeconomic, financial, and political variables to guide country allocation. Careful consideration is also given to the global risk environment.
At least two thirds of the Sub-Fund's Net Asset Value will be invested in securities issued by issuers located in (and/or conduct the greater part of their economic activity in) emerging market countries around the world.
The Sub-Fund may invest up to 20% of its Net Asset Value in securities listed or traded on Russian markets. (Such securities will be listed or traded on Eligible Markets located worldwide).

##### The Sustainable Finance Disclosure Regulation
The management of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying
investments could be materially negatively impacted by an ESG event or condition (“ESG Event”).
As part of the bottom-up security research process, the Investment Manager assesses the environmental, social and governance factors of each portfolio investment for potential sustainability risks. These factors may include, but are not limited to, an issuers impact on the environment, including emissions, land use and waste
practices, and an issuer’s social policies and practices,
including employee matters, supply chain practices and human rights policies. The Investment Manager’s internal credit research includes resources such as the Investment Manager’s proprietary ESG score as an input and is supplemented with third-party resources including
MSCI ESG data and ratings, Bloomberg ESG data, Sustainability Accounting Standards Board’s (SASB) Engagement Guide, credit rating agency research, sell-
side research and industry events. This research into
sustainability risks is taken into consideration, along with the Investment Manager’s macroeconomic research and credit analysis, in the security selection process.
The Investment Manager also assesses the governance practices of issuers through its fundamental research, supplemented by third-party governance scoring methodologies, in order to satisfy itself that the relevant issuers follow good governance practices, in particular with respect to sound management structures, employee relations, remuneration of staff and tax compliance.
The Investment Manager monitors sustainability factors
and risk exposures on a regular basis by reviewing regular reporting on both the Investment Manager’s proprietary and third-party ESG scores.
As explained above, the management and assessment of sustainability risks forms an important part of the Investment Manager's due diligence, however there may still be a risk that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Government Bond Futures Money Market Futures Currency Futures |
| --- | --- |
| Options | Options on Government Bond Futures Options on Currency Futures Currency Options (including FX Options) Bond Options |
| Swaps | Credit Default Swaps (single name, index and custom basket) Interest Rate Swaps Total Return Swaps (single name, credit, index and custom basket) |
| Forwards (de- liverable and non-deliver- able) | Forward Foreign Exchange Contracts |
| Securities with Embedded FDI/Leverage | Credit Linked Notes Asset-Backed Securities (ABS) and Mortgage- Backed Securities (MBS) |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial
purpose, are described in the Prospectus in the section entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub-Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit CDX American Investment Grade High Volatility Index Markit CDX North American Investment Grade Index Markit CDX North American High Yield Index Markit CDX North American High Yield Beta Index Markit CDX Emerging Markets Index Markit CDX Emerging Markets Diversified Index Markit iTraxx Europe Index Markit iTraxx Crossover Index Markit iTraxx Financial Index Markit iTraxx Subordinated Financial Index |
| Interest rate indices to provide exposure to interest rate markets and to express the managers view that the yield curve will move in a particular direction in a more cost effective or efficient manner than buying physical securities. | EURIBOR LIBOR SOFR SONIA |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. The remaining financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where additional information can be found, will be set out in the
Company’s semi-annual and annual accounts.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Relative VaR
Relative VaR Limit: Sub-Fund’s portfolio will not exceed twice the VaR on a representative benchmark portfolio (using a 20 Business Day holding period)
Relative VaR Benchmark: A blended benchmark of 50% JP Morgan Government Bond Index – Emerging Markets Global Diversified Index, 25% JP Morgan Emerging
Markets Bond Index Global Index, 25% JP Morgan Corporate Emerging Markets Bond Index Diversified Index
Gross leverage is expected to vary between: 50 – 500% of the Net Asset Value. The gross leverage may exceed this target level at times
For more information on the Relative VaR approach and Gross Leverage, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in SFTs, i.e. securities lending arrangements and
repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 10% and in respect of SFTs shall be 100% of the Net Asset Value of the Sub-Fund. However, it is
not anticipated that the Sub-Fund’s exposure in respect
of TRS will exceed 10% and in respect of SFTs will
exceed 15% of the Net Asset Value of the Sub-Fund. The types of assets that will be subject to TRS and SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1£, 1€, 1CHF or 100¥ depending on the currency of the relevant
class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11 November respectively. Further details are set out under
the heading "The Company - Distribution Policy” in the
Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are set out under the sub-heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors’ attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Japan Small Cap Equity Focus Fund

### SUPPLEMENT 26 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- The Sub-Fund’s Net Asset Value may have a high level of volatility due to its investment policy.


#### The Investment Manager
BNY Mellon Investment Management Japan Limited

#### Base Currency
Japanese Yen

#### Business Day
Each day which is a bank business day in Dublin and Japan.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for which each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro A (Acc.) | EUR | 5,000 | 5% | 2.00% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 2.00% | 0% |
| USD A (Acc.) | USD | 5,000 | 5% | 2.00% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 2.00% | 0% |
| Sterling A (Acc.) | GBP | 5,000 | 5% | 2.00% | 0% |
| Sterling A (Inc.) | GBP | 5,000 | 5% | 2.00% | 0% |
| CHF A (Acc.) | CHF | 5,000 | 5% | 2.00% | 0% |
| CHF A (Inc.) | CHF | 5,000 | 5% | 2.00% | 0% |
| JPY A (Acc.) | JPY | 500,000 | 5% | 2.00% | 0% |
| JPY A (Inc.) | JPY | 500,000 | 5% | 2.00% | 0% |
| Euro H (hedged) | EUR | 5,000 | 5% | 2.00% | 0% |
| Euro H (Inc.) (hedged) | EUR | 5,000 | 5% | 2.00% | 0% |
| USD H (hedged) | USD | 5,000 | 5% | 2.00% | 0% |
| USD H (Inc.) (hedged) | USD | 5,000 | 5% | 2.00% | 0% |
| Sterling H (Acc.) (hedged) | GBP | 5,000 | 5% | 2.00% | 0% |
| Sterling H (Inc.) (hedged) | GBP | 5,000 | 5% | 2.00% | 0% |
| CHF H (Acc.) (hedged) | CHF | 5,000 | 5% | 2.00% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| CHF H (Inc.) (hedged) | CHF | 5,000 | 5% | 2.00% | 0% |
| SGD H (Acc.) (hedged) | SGD | 5,000 | 5% | 2.00% | 0% |
| SGD H (Inc.) (hedged) | SGD | 5,000 | 5% | 2.00% | 0% |
| DKK H (Acc.) (hedged) | DKK | 50,000 | 5% | 2.00% | 0% |
| NOK H (Acc.) (hedged) | NOK | 50,000 | 5% | 2.00% | 0% |
| SEK H (Acc.) (hedged) | SEK | 50,000 | 5% | 2.00% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 1.00% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 1.00% | 0% |
| JPY G (Acc.) | JPY | 500,000 | 5% | 1.00% | 0% |
| JPY G (Inc.) | JPY | 500,000 | 5% | 1.00% | 0% |
| Euro G (Acc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| USD G (Acc.) (hedged) | USD | 5,000 | 5% | 1.00% | 0% |
| USD G (Inc.) (hedged) | USD | 5,000 | 5% | 1.00% | 0% |
| Euro G (Acc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| SGD G (Acc.) (hedged) | SGD | 5,000 | 5% | 1.00% | 0% |
| SGD G (Inc.) (hedged) | SGD | 5,000 | 5% | 1.00% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro C (Acc.) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| USD C | USD | 5,000,000 | 5% | 1.00% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Acc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Inc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| CHF C (Acc.) | CHF | 5,000,000 | 5% | 1.00% | 0% |
| CHF C (Inc.) | CHF | 5,000,000 | 5% | 1.00% | 0% |
| JPY C | JPY | 500,000,000 | 5% | 1.00% | 0% |
| JPY C (Inc.) | JPY | 500,000,000 | 5% | 1.00% | 0% |
| Euro I (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| USD I (hedged) | USD | 5,000,000 | 5% | 1.00% | 0% |
| USD I (Inc.) (hedged) | USD | 5,000,000 | 5% | 1.00% | 0% |
| Sterling I (Acc.) (hedged) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Sterling I (Inc.) (hedged) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| CHF I (Acc.) (hedged) | CHF | 5,000,000 | 5% | 1.00% | 0% |
| CHF I (Inc.) (hedged) | CHF | 5,000,000 | 5% | 1.00% | 0% |
| SGD I (Acc.) (hedged) | SGD | 5,000,000 | 5% | 1.00% | 0% |
| SGD I (Inc.) (hedged) | SGD | 5,000,000 | 5% | 1.00% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro W (Acc.) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.75% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Acc.) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Inc.) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| JPY W | JPY | 1,500,000,000 | 5% | 0.75% | 0% |
| JPY W (Inc.) | JPY | 1,500,000,000 | 5% | 0.75% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| USD W (Acc.) (hedged) | USD | 15,000,000 | 5% | 0.75% | 0% |
| USD W (Inc.) (hedged) | USD | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Inc.) (hedged) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| SGD W (Acc.) (hedged) | SGD | 15,000,000 | 5% | 0.75% | 0% |
| SGD W (Inc.) (hedged) | SGD | 15,000,000 | 5% | 0.75% | 0% |
| DKK W (Acc.) (hedged) | DKK | 150,000,000 | 5% | 0.75% | 0% |
| NOK W (Acc.) (hedged) | NOK | 150,000,000 | 5% | 0.75% | 0% |
| SEK W (Acc.) (hedged) | SEK | 150,000,000 | 5% | 0.75% | 0% |

| “E” Shares and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro E (Acc.) | EUR | As agreed | 5% | 0.55% | 0% |
| Euro E (Inc.) | EUR | As agreed | 5% | 0.55% | 0% |
| USD E (Acc.) | USD | As agreed | 5% | 0.55% | 0% |
| USD E (Inc.) | USD | As agreed | 5% | 0.55% | 0% |
| Sterling E (Acc.) | GBP | As agreed | 5% | 0.55% | 0% |
| Sterling E (Inc.) | GBP | As agreed | 5% | 0.55% | 0% |
| CHF E (Acc.) | CHF | As agreed | 5% | 0.55% | 0% |
| CHF E (Inc.) | CHF | As agreed | 5% | 0.55% | 0% |
| JPY E (Acc.) | JPY | As agreed | 5% | 0.55% | 0% |
| JPY E (Inc.) | JPY | As agreed | 5% | 0.55% | 0% |
| Euro E (Acc.) (hedged) | EUR | As agreed | 5% | 0.55% | 0% |
| Euro E (Inc.) (hedged) | EUR | As agreed | 5% | 0.55% | 0% |
| USD E (Acc.) (hedged) | USD | As agreed | 5% | 0.55% | 0% |
| USD E (Inc.) (hedged) | USD | As agreed | 5% | 0.55% | 0% |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.55% | 0% |
| Sterling E (Inc.) (hedged) | GBP | As agreed | 5% | 0.55% | 0% |
| CHF E (Acc.) (hedged) | CHF | As agreed | 5% | 0.55% | 0% |
| CHF E (Inc.) (hedged) | CHF | As agreed | 5% | 0.55% | 0% |
| SGD E (Acc.) (hedged) | SGD | As agreed | 5% | 0.55% | 0% |
| SGD E (Inc.) (hedged) | SGD | As agreed | 5% | 0.55% | 0% |

| “X” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) | EUR | None | 0% | 0% | 0% |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| Sterling X (Acc.) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) | GBP | None | 0% | 0% | 0% |
| CHF X (Acc.) | CHF | None | 0% | 0% | 0% |
| CHF X (Inc.) | CHF | None | 0% | 0% | 0% |
| JPY X (Acc.) | JPY | None | 0% | 0% | 0% |
| JPY X (Inc.) | JPY | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The investment objective of the Sub-Fund is long-term capital growth through investment in a portfolio of small cap equities traded on one or more of the official stock exchanges in Japan.

##### Investment Policy
The Sub-Fund aims to achieve its investment objective by investing at least 80% of the Net Asset Value of the Sub- Fund in the equity securities of small capitalisation (stocks which are predominantly below 500 billion Yen) companies listed, or regularly traded on an Eligible Market in Japan.
The Sub-Fund may also invest in real estate investment trust (“REITS”) which are listed or traded on the Tokyo Stock Exchange.
The Sub-Fund may also hold up to 20% in cash or, subject to any restrictions set out in the Prospectus, invest in cash or money market funds for the purposes of cash management. The Sub-Fund may also use equity index futures for cash management purposes. For example when there are small cash inflows or outflows, the Investment Manager may choose to use equity index futures to increase or decrease exposure, respectively, to the Japanese equity securities referred to above. In these circumstances, investing in equity index futures may be more cost efficient than trading in the securities directly.
The Sub-Fund will be normally diversified across many of the sectors within the Tokyo Stock Price Index (TOPIX).
There are 33 sectors in TOPIX, such as transportation equipment, information and communication, electrical appliances, pharmaceuticals, real estate, construction and machinery. The Sub-Fund will have exposure in many of these 33 sectors.The Sub-Fund may use forward FX
contracts for hedging purposes as described in the Prospectus in the section “Efficient Portfolio Management”.
The Sub-Fund will not invest more than 10% of its Net Asset Value in aggregate in collective investment schemes (CIS). Investment in CIS may be used for cash management purposes or to give exposure to the equity securities listed in the investment policy above.
The Sub-Fund may invest up to 10% of its Net Asset Value in recently issued transferable securities (equities) not listed or traded on Eligible Markets within a year.

##### Benchmark
Russell Nomura Small Cap Index (the "Benchmark").
The Benchmark represents approximately the smallest 15% of stocks in terms of float-adjusted market capitalization of the Russell Nomura Total Market Index.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has discretion to invest outside the Benchmark subject to the investment objective and policy.
However, as the Benchmark covers a significant
proportion of the investable universe, the majority of the Sub-Fund’s holdings will be constituents of the Benchmark but the weightings in the portfolio are not
influenced by those of the Benchmark. The investment strategy will restrict the extent to which the portfolio holdings may deviate from the Benchmark and consequently the extent to which the Sub-Fund can outperform the Benchmark.

##### Investment Strategy
The Investment Manager’s strategy is to invest in a concentrated portfolio of small cap equities of companies located in Japan, listed or regularly traded on a
recognized exchange in Japan. The Sub-Fund is a Japan single-country fund and will not seek exposure to any other country. The Investment Manager will choose stocks for the portfolio based on fundamental research on a medium to long-term earnings outlook, generally on a three year view, targeting to generate excess return over the Benchmark mainly through stock selection. The investment process focuses on identifying companies with qualities such as growth potential, the ability to deliver longer term earnings above expectations, as well as attractive valuation. The portfolio will be invested primarily in stocks with a market capitalization of 500 billion yen or less and will normally hold less than 40 stocks.

##### The Sustainable Finance Disclosure Regulation
The management of sustainability risk forms a relevant part of the due diligence process implemented by the Investment Manager. When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying investments could be materially
negatively impacted by an ESG event or condition (“ESG Event”).
Sustainability risk is identified, monitored and managed by the Investment Manager in the following manner:
- Prior to acquiring investments on behalf of a Sub- Fund, the Investment Manager uses ESG metrics disclosed by the issuer and engages with the issuer directly in order to assess the relevant investment against sustainability risk and to identify whether it is vulnerable to such risk. This process incorporates applying an exclusion policy (whereby potential investments are removed from the investment universe on the basis that they pose too great a sustainability risk to the Sub-Fund). The Investment Manager also conducts fundamental analysis on each potential investment in order to allow it to assess the adequacy of ESG programmes and practices of an issuer to manage the sustainability risk it faces. The information gathered from the fundamental analysis conducted will be taken into account by the Investment Manager in deciding whether to acquire a holding in an issuer.
- During the life of the investment, sustainability risk is monitored through a review of ESG data published by the issuer to determine whether the level of sustainability risk has changed since the initial assessment has been conducted. This review is conducted at least on an annual basis. Where the sustainability risk associated with a particular investment has increased beyond the ESG risk appetite for the relevant Sub-Fund, the Investment Manager will consider selling or reducing the Sub-Fund’s exposure to the relevant investment, takinginto account the best interests of the Shareholders ofthe Sub-Fund.

As explained above, the management and assessment of sustainability risk forms a relevant part of the Investment
Manager’s due diligence process, however there may still
be a risk that the value of the Sub-Fund could be
materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
In addition to using FDI for hedging, this Sub-Fund may use equity index futures for cash management purposes, for the reduction of costs and the generation of additional capital or income with an acceptable low level of risk consistent with the risk profile of the Sub-Fund (relative to the expected return) and the risk
diversification requirements in accordance with the Central Bank UCITS Regulations and the Central Bank’s Guidance on “UCITS Eligible Assets” and as set out under the heading “The Company – Investment and Borrowing Restrictions” in the Prospectus.

#### Registration in Germany
This Sub-Fund is registered for sale in Germany. The Sub- Fund is classified as an Equity Fund for German tax purposes and as such it will permanently invest more than 50% of its assets in equities as defined in article 2 paragraph 8 of the German Investment Tax Act.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 100% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations. In utilising FDI for EPM purposes, the Sub-Fund may gain indirect exposure to financial indices.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. securities lending arrangements and repurchase/reverse repurchase
agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of SFTs shall be 100% of the Net Asset Value of the Sub-
Fund. However, it is not anticipated that the Sub-Fund’s
exposure to the SFTs will exceed 15% of the Net Asset
Value. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”,
“Appendix III - Management of Collateral”, “Appendix III -
Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1£, 1€, 1CHF, 1SGD, 100¥, 10DKK, 10NOK or 10SEK depending on
the currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February. Further details
are set out under the heading “The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are set out under the sub-heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors’ attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Asian Income Fund

### SUPPLEMENT 27 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- Management fees and other fees and expenses of the Sub-Fund will be charged to the capital of the Sub-Fund to seek to maximise distributions. See “Fees and Expenses” in the Prospectus for further details.
- The Sub-Fund’s Net Asset Value may have a high level of volatility due to its investment policy.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
Newton Investment Management Limited

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its investment management functions with respect to this Sub-Fund to Newton Investment Management North
America LLC (the “Sub-Investment Manager”). Details of
the Sub-Investment Management Agreement between the
Investment Manager and the Sub-Investment Manager are set out under the heading “Sub-Investment Managers” in the Prospectus.

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro A (Acc.) | EUR | 5,000 | 5% | 2.00% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 2.00% | 0% |
| USD A (Acc.) | USD | 5,000 | 5% | 2.00% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 2.00% | 0% |
| Sterling A (Acc.) | GBP | 5,000 | 5% | 2.00% | 0% |
| Sterling A (Inc.) | GBP | 5,000 | 5% | 2.00% | 0% |
| CHF A (Acc.) | CHF | 5,000 | 5% | 2.00% | 0% |
| CHF A (Inc.) | CHF | 5,000 | 5% | 2.00% | 0% |
| Euro H (Acc.) (hedged) | EUR | 5,000 | 5% | 2.00% | 0% |
| Euro H (Inc.) (hedged) | EUR | 5,000 | 5% | 2.00% | 0% |
| SGD H (Acc.) (hedged) | SGD | 5,000 | 5% | 2.00% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| SGD H (Inc.) (hedged) | SGD | 5,000 | 5% | 2.00% | 0% |

| “B” Shares and “J (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD B (Acc.) | USD | 10,000 | 5% | 1.50% | 0% |
| Euro J (Inc.) (hedged) | EUR | 10,000 | 5% | 1.50% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 1.00% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 1.00% | 0% |
| Euro G (Acc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Acc.) | GBP | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Inc.) | GBP | 5,000 | 5% | 1.00% | 0% |
| Euro G (Acc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Sterling C (Acc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Inc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Euro C (Acc.) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| CHF C (Acc.) | CHF | 5,000,000 | 5% | 1.00% | 0% |
| CHF C (Inc.) | CHF | 5,000,000 | 5% | 1.00% | 0% |
| USD C (Acc.) | USD | 5,000,000 | 5% | 1.00% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| SGD I (Acc.) (hedged) | SGD | 5,000,000 | 5% | 1.00% | 0% |
| SGD I (Inc.) (hedged) | SGD | 5,000,000 | 5% | 1.00% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Acc.) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Acc.) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Inc.) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.75% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| SGD W (Acc.) (hedged) | SGD | 15,000,000 | 5% | 0.75% | 0% |
| SGD W (Inc.) (hedged) | SGD | 15,000,000 | 5% | 0.75% | 0% |

| “X” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Sterling X (Acc.) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) | GBP | None | 0% | 0% | 0% |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) | EUR | None | 0% | 0% | 0% |
| CHF X (Acc.) | CHF | None | 0% | 0% | 0% |
| CHF X (Inc.) | CHF | None | 0% | 0% | 0% |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to provide income with the potential for capital growth over the longer term.

##### Investment Policy
The Sub-Fund aims to achieve its investment objective by investing primarily (meaning at least two-thirds of the Sub-Fund's Net Asset Value) in a portfolio of equity and equity-related securities in the Asia Pacific Region including Australia and New Zealand (excluding Japan).
The equity and equity-related securities that the Sub- Fund may invest in directly, or indirectly through FDI, include equities, warrants, preference shares, American
depositary receipts (“ADRs”), global depositary receipts (“GDRs”) (collectively “Depositary Receipts”), hybrids (such as convertible bonds (including mandatory convertible
bonds)), REITS (Real Estate Investment Trusts) and convertible preference shares (hereinafter “Equity and Equity-Related Securities”).
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in collective investment schemes
(“CIS”) including money market funds for cash
management purposes. The CIS in which the Sub-Fund
may invest include ETFs. Any investment in ETFs will be in accordance with the investment limits for CIS. Initially, CIS will be used for cash management purposes only.
However, CIS may also be used to gain regional equity exposure.
The Sub-Fund intends to invest in the Equity and Equity- Related Securities of companies located or deriving a preponderant part of their income from the Asia Pacific region, including Australia and New Zealand (excluding Japan) with no particular industry or sector focus, however, the Sub-Fund may at times be concentrated in particular industry or geographical sectors depending on
where the Investment Manager sees investment opportunity. The Sub-Fund may invest over 20% of its Net Asset Value in emerging market countries, including China and India but will not gain exposure to Russia. The Sub-Fund may gain exposure to China through
purchasing China H-shares listed or traded on the Hong Kong Stock Exchange, China B-shares listed or traded on the Shanghai Stock Exchange or the Shenzhen Stock Exchange or China A-shares via the Stock Connect. The Sub-Fund may invest up to 20% of its Net Asset Value in China A-shares via the Stock Connect. Further details about the Stock Connect are set out in Appendix V to the Prospectus. The Sub-Fund may gain exposure to India directly or through Depositary Receipts. All relevant local licences and sub-custodial arrangements are now in place for gaining exposure directly to the Indian market.
With the exception of permitted investment in unlisted securities and CIS other than ETFs, the Sub-Fund’s investments will be listed or traded on Eligible Markets
listed in Appendix II of the Prospectus.

##### Cash and Collateral Management
The Sub-Fund may also hold high levels of cash and liquid near cash assets in certain circumstances. Such circumstances include where market conditions may require a defensive investment strategy, the holding of cash on deposit pending reinvestment, to meet redemptions, to facilitate payment of dividends and expenses and to provide collateral to support FDI exposure. Liquid near cash assets may include money market instruments (such as short-dated government bonds, certificates of deposit, commercial paper and term deposits) and bank deposits. Such debt securities may be government or corporate, fixed or floating rate and it is intended that issuers and/or guarantors of any such securities and instruments will have a credit rating at the time of purchase of at least A1/P1 (or its
equivalent) from a Recognised Rating Agency, or will be deemed by the Investment Manager to be of equivalent quality.

##### Benchmark
FTSE Asia Pacific ex Japan TR Index (the “Benchmark”).
The Benchmark comprises large and mid cap stocks providing coverage of the Developed and Advanced Emerging Markets in Asia Pacific excluding Japan.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest outside the Benchmark subject to the investment
objective and policy. While the Sub-Fund’s holdings may
include constituents of the Benchmark, the selection of
investments and their weightings in the portfolio are not influenced by the Benchmark. The investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.

##### Investment Strategy
The investment philosophy is based upon the conviction of the Investment Manager that no company, market or economy can be considered in isolation; each must be understood in a global context. The Investment Manager believes that events occurring around the world influence all financial markets and that successful investment in Asian equities require a thorough understanding of the world as a whole.
The Investment Manager identifies themes which encompass the major areas of change in the world and use these themes as the basis of their investment ideas. A global, thematic approach allows the Investment
Manager to gain long-term perspective on global financial markets and economies and always to consider the ‘big picture’. Perspective is a defining feature of their investment process; it helps them to anticipate how the
world will change and it directs analysts and portfolio managers towards profitable opportunities. Themes seek to identify major areas of structural change in the world, providing context to investment analysis and decision making, helping the Investment Manager identify areas of potential investment opportunity and risk. Some of the
Investment Manager’s long-term themes currently include, but are not limited to, ‘Population Dynamics’ (e.g. the impact of ageing populations), ‘Earth Matters’ (e.g. development of clean energy and waste management solutions), ‘State Intervention’ (e.g. the impact on asset prices from changes in central bank policies and politics) and ‘Smart Resolution’ (e.g. the rise of artificial
intelligence and automation).
The Sub-Fund aims to invest in dividend paying
companies with income generating prospects. The income prospects and the company’s yield will be judged with reference to the yield of the Benchmark at the time of
purchase. Stock selection focuses on companies which have strong fundamentals, are attractively valued and
meet the Investment Manager’s yield criteria in light of
the investment objective of the Sub-Fund to aim to
achieve income together with long-term capital growth. This means the Investment Manager reviews a stock relative to its peer group, benchmark as well as historic data and earnings potential whilst trying to identify
opportunities and avoid pitfalls. The Investment Manager also takes into account the dividend history of a company.

##### The Sustainable Finance Disclosure Regulation
The consideration of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying
investments could be materially negatively impacted by an ESG event or condition (“ESG Event”).
The Investment Manager has access to a variety of ESG- related data points provided by third party data which assists with the identification of potential ESG-related issues that an issuer may be facing. This includes but is not limited to exposure to activities that may be deemed
harmful to the environment or society. This data, along with data from the Investment Manager’s own proprietary responsible investment research resources, forms a central part of the Investment Manager’s consideration and assessment of the level of sustainability risk that an
investment may be subject to.
This assessment is integrated in to the security level research process, which is based upon fundamental analysis of individual investment opportunities across a number of different factors including:
- Fundamental financial or economic characteristics
- Valuation
- Risk/reward profile
- The ESG characteristics of the issuer, including understanding how such considerations can impact economic returnsThe information gathered from the fundamental analysis conducted will be taken into account by the Investment Manager in deciding whether to acquire a holding in an issuer or continue to hold a position.

As explained above, the assessment and management of
sustainability risks forms an important part of the Investment Manager’s due diligence process, however, there may still be a risk that the value of the Sub-Fund
could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Options | Equity Options (single name, index, sector, custom basket, including covered call options) Index Options Options on Equity Futures Option on ETFs Options on Equity Futures Currency Options (including FX options) Interest Rate Options Options on Currency Futures |
| --- | --- |
| Futures | Equity Index Futures Money Market Futures Currency Futures |
| Forwards | Forward Foreign Exchange Contracts |
| Securities with Embedded FDI/Leverage | Warrants Convertible Bonds Convertible Preference Shares |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial
purpose, are described in the Prospectus in the section entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub-Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Equity indices to provide exposure to regional and global equity markets in a more cost effective or efficient manner than buying the physical securities. | ASX 200 Index Hang Seng Index KOSPI Index |

These financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where
additional information can be found, will be set out in the Company’s semi-annual and annual accounts.

##### Long and Short Positions
The Sub-Fund may employ synthetic long and synthetic short exposures in each of the asset classes referenced in the Investment Policy to achieve its investment objective. The total net long exposure (after taking
account of hedging) through FDI is not expected to exceed 100% of the Net Asset Value of the Sub-Fund and the total net short exposure is not expected to exceed 100% of the Net Asset Value of the Sub-Fund (using the commitment approach).

#### Registration in Germany
This Sub-Fund is registered for sale in Germany. The Sub- Fund is classified as an Equity Fund for German tax purposes and as such it will permanently invest more than 50% of its assets in equities as defined in article 2 paragraph 8 of the German Investment Tax Act.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 100% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be issued during their respective Initial Offer Periods at their
respective initial offer price per Share of 1USD, 1£, 1€,
1CHF or 1SGD depending on the currency of the relevant
class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. securities lending arrangements and repurchase/reverse repurchase
agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of SFTs shall be 100% of the Net Asset Value of the Sub-
Fund. However, it is not anticipated that the Sub-Fund’s
exposure in respect of SFTs will exceed 15% of the Net
Asset Value of the Sub-Fund. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Management of Collateral”, “Appendix III -
Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11
November respectively. Further details are set out under the heading "The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are set out under the sub-heading
“Management and Administration of the Company – Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Dynamic Total Return Fund

### SUPPLEMENT 28 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
This Sub-Fund was closed by way of compulsory redemption whereby all of the Shares in issue in the Sub- Fund as of 26 February 2021, were compulsorily redeemed. Shares in the Sub-Fund are no longer available for investment. The Company intends to apply
to the Central Bank to revoke the Sub-Fund’s approval
following the preparation of the audited financial
statements for the year ended 31 December 2021. The Company shall seek approval from the Central Bank to remove the Sub-Fund from this Prospectus following approval of that revocation.
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may invest principally in financial derivative instruments (“FDI”), and will also use such FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- The Sub-Fund may, from time to time, invest substantially in money market instruments and/or deposits with credit institutions. Although the Sub- Fund may invest in money market instruments and cash deposits, Shares in the Sub-Fund are not deposits and are different in nature to a deposit in that the investment is not guaranteed and the value of the investment is capable of fluctuation. Investment in the Sub-Fund involves certain investment risks, including the possible loss of principal.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 17.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| USD A (Acc.) | USD | up to 5% | USD 5,000 | 2.00% | None |
| USD A (Inc.) | USD | up to 5% | USD 5,000 | 2.00% | None |
| Euro A (Acc.) | EUR | up to 5% | EUR 5,000 | 2.00% | None |
| Euro A (Inc.) | EUR | up to 5% | EUR 5,000 | 2.00% | None |
| Sterling A (Acc.) | GBP | up to 5% | GBP 5,000 | 2.00% | None |
| Sterling A (Inc.) | GBP | up to 5% | GBP 5,000 | 2.00% | None |
| CHF A (Acc.) | CHF | up to 5% | CHF 5,000 | 2.00% | None |
| CHF A (Inc.) | CHF | up to 5% | CHF 5,000 | 2.00% | None |
| Euro H (Acc.) (hedged) | EUR | up to 5% | EUR 5,000 | 2.00% | None |

| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| Euro H (Inc.) (hedged) | EUR | up to 5% | EUR 5,000 | 2.00% | None |
| Sterling H (Acc.) (hedged) | GBP | up to 5% | GBP 5,000 | 2.00% | None |
| Sterling H (Inc.) (hedged) | GBP | up to 5% | GBP 5,000 | 2.00% | None |
| CHF H (Acc.) (hedged) | CHF | up to 5% | CHF 5,000 | 2.00% | None |
| CHF H (Inc.) (hedged) | CHF | up to 5% | CHF 5,000 | 2.00% | None |
| SGD H (Acc.) (hedged) | SGD | up to 5% | SGD 5,000 | 2.00% | None |
| SGD H (Inc.) (hedged) | SGD | up to 5% | SGD 5,000 | 2.00% | None |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| Euro C (Acc.) | EUR | up to 5% | EUR 5,000,000 | 1.00% | None |
| Euro C (Inc.) | EUR | up to 5% | EUR 5,000,000 | 1.00% | None |
| USD C (Acc.) | USD | up to 5% | USD 5,000,000 | 1.00% | None |
| USD C (Inc.) | USD | up to 5% | USD 5,000,000 | 1.00% | None |
| Sterling C (Acc.) | GBP | up to 5% | GBP 5,000,000 | 1.00% | None |
| Sterling C (Inc.) | GBP | up to 5% | GBP 5,000,000 | 1.00% | None |
| CHF C (Acc.) | CHF | up to 5% | CHF 5,000,000 | 1.00% | None |
| CHF C (Inc.) | CHF | up to 5% | CHF 5,000,000 | 1.00% | None |
| CAD C (Acc.) | CAD | up to 5% | CAD 5,000,000 | 1.00% | None |
| CAD C (Inc.) | CAD | up to 5% | CAD 5,000,000 | 1.00% | None |
| Euro I (Acc.) (hedged) | EUR | up to 5% | EUR 5,000,000 | 1.00% | None |
| Euro I (Inc.) (hedged) | EUR | up to 5% | EUR 5,000,000 | 1.00% | None |
| Sterling I (Acc.) (hedged) | GBP | up to 5% | GBP 5,000,000 | 1.00% | None |
| Sterling I (Inc.) (hedged) | GBP | up to 5% | GBP 5,000,000 | 1.00% | None |
| CHF I (Acc.) (hedged) | CHF | up to 5% | CHF 5,000,000 | 1.00% | None |
| CHF I (Inc.) (hedged) | CHF | up to 5% | CHF 5,000,000 | 1.00% | None |
| CAD I (Acc.) (hedged) | CAD | up to 5% | CAD 5,000,000 | 1.00% | None |
| CAD I (Inc.) (hedged) | CAD | up to 5% | CAD 5,000,000 | 1.00% | None |
| SGD I (Acc.) (hedged) | SGD | up to 5% | SGD 5,000,000 | 1.00% | None |
| SGD I (Inc.) (hedged) | SGD | up to 5% | SGD 5,000,000 | 1.00% | None |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| USD G (Acc.) | USD | up to 5% | USD 5,000 | 1.00% | None |
| USD G (Inc.) | USD | up to 5% | USD 5,000 | 1.00% | None |
| Euro G (Acc.) | EUR | up to 5% | EUR 5,000 | 1.00% | None |
| Euro G (Inc.) | EUR | up to 5% | EUR 5,000 | 1.00% | None |
| Euro G (Acc.) (hedged) | EUR | up to 5% | EUR 5,000 | 1.00% | None |
| Euro G (Inc.) (hedged) | EUR | up to 5% | EUR 5,000 | 1.00% | None |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| USD W (Acc.) | USD | up to 5% | USD 15,000,000 | 0.75% | None |
| USD W (Inc.) | USD | up to 5% | USD 15,000,000 | 0.75% | None |
| Euro W (Acc.) | EUR | up to 5% | EUR 15,000,000 | 0.75% | None |
| Euro W (Inc.) | EUR | up to 5% | EUR 15,000,000 | 0.75% | None |

| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| Sterling W (Acc.) | GBP | up to 5% | GBP 15,000,000 | 0.75% | None |
| Sterling W (Inc.) | GBP | up to 5% | GBP 15,000,000 | 0.75% | None |
| CHF W (Acc.) | CHF | up to 5% | CHF 15,000,000 | 0.75% | None |
| CHF W (Inc.) | CHF | up to 5% | CHF 15,000,000 | 0.75% | None |
| CAD W (Acc.) | CAD | up to 5% | CAD 15,000,000 | 0.75% | None |
| CAD W (Inc.) | CAD | up to 5% | CAD 15,000,000 | 0.75% | None |
| Euro W (Acc.) (hedged) | EUR | up to 5% | EUR 15,000,000 | 0.75% | None |
| Euro W (Inc.) (hedged) | EUR | up to 5% | EUR 15,000,000 | 0.75% | None |
| Sterling W (Acc.) (hedged) | GBP | up to 5% | GBP 15,000,000 | 0.75% | None |
| Sterling W (Inc.) (hedged) | GBP | up to 5% | GBP 15,000,000 | 0.75% | None |
| CHF W (Acc.) (hedged) | CHF | up to 5% | CHF 15,000,000 | 0.75% | None |
| CHF W (Inc.) (hedged) | CHF | up to 5% | CHF 15,000,000 | 0.75% | None |
| CAD W (Acc.) (hedged) | CAD | up to 5% | CAD 15,000,000 | 0.75% | None |
| CAD W (Inc.) (hedged) | CAD | up to 5% | CAD 15,000,000 | 0.75% | None |
| SGD W (Acc.) (hedged) | SGD | up to 5% | SGD 15,000,000 | 0.75% | None |
| SGD W (Inc.) (hedged) | SGD | up to 5% | SGD 15,000,000 | 0.75% | None |

| “E” Shares and “E (hedged)” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| USD E (Acc.) | USD | up to 5% | As agreed | 0.50% | None |
| USD E (Inc.) | USD | up to 5% | As agreed | 0.50% | None |
| Euro E (Acc.) | EUR | up to 5% | As agreed | 0.50% | None |
| Euro E (Inc.) | EUR | up to 5% | As agreed | 0.50% | None |
| Sterling E (Acc.) | GBP | up to 5% | As agreed | 0.50% | None |
| Sterling E (Inc.) | GBP | up to 5% | As agreed | 0.50% | None |
| CHF E (Acc.) | CHF | up to 5% | As agreed | 0.50% | None |
| CHF E (Inc.) | CHF | up to 5% | As agreed | 0.50% | None |
| CAD E (Acc.) | CAD | up to 5% | As agreed | 0.50% | None |
| CAD E (Inc.) | CAD | up to 5% | As agreed | 0.50% | None |
| Euro E (Acc.) (hedged) | EUR | up to 5% | As agreed | 0.50% | None |
| Euro E (Inc.) (hedged) | EUR | up to 5% | As agreed | 0.50% | None |
| Sterling E (Acc.) (hedged) | GBP | up to 5% | As agreed | 0.50% | None |
| Sterling E (Inc.) (hedged) | GBP | up to 5% | As agreed | 0.50% | None |
| CHF E (Acc.) (hedged) | CHF | up to 5% | As agreed | 0.50% | None |
| CHF E (Inc.) (hedged) | CHF | up to 5% | As agreed | 0.50% | None |
| CAD E (Acc.) (hedged) | CAD | up to 5% | As agreed | 0.50% | None |
| CAD E (Inc.) (hedged) | CAD | up to 5% | As agreed | 0.50% | None |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) | EUR | None | 0% | 0% | 0% |
| Sterling X (Acc.) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) | GBP | None | 0% | 0% | 0% |
| CHF X (Acc.) | CHF | None | 0% | 0% | 0% |

| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| CHF X (Inc.) | CHF | None | 0% | 0% | 0% |
| CAD X (Acc.) | CAD | None | 0% | 0% | 0% |
| CAD X (Inc.) | CAD | None | 0% | 0% | 0% |
| CAD X (Acc.) (hedged) | CAD | None | 0% | 0% | 0% |
| CAD X (Inc.) (hedged) | CAD | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to achieve a total return comprised of income and long term capital growth.

##### Investment Policy
The Sub-Fund is a global multi-asset fund that aims to achieve its objective through dynamic asset allocation. The Sub-Fund may invest in equities, debt and debt- related securities (obligations, treasury bills, debentures, bonds, asset-backed and mortgage-backed securities, certificates of deposit, floating rate notes, short and medium term obligations, inflation linked bonds, and commercial paper) which may be fixed or floating rate, are issued or guaranteed by any sovereign government or their agencies, local authority, supranational or public international bodies, banks, corporates or other
commercial issuers, (hereinafter “Debt and Debt-Related Securities”), currencies (FX forwards, currency swaps and FX options), unsecuritised loans through direct
investment, convertible bonds and warrants (as described in further detail below) and FDI (as set out below in “Use of FDI”) and collective investment schemes (“CIS”) (including exchange traded funds (“ETF”) and money market funds). The Sub-Fund may at times invest in
excess of 30% of the its Net Asset Value in sub- investment grade securities and unrated securities as determined by a Recognised Rating Agency.
The Sub-Fund may also invest indirectly in real assets being property and commodities. Exposure to property
will be gained through FDI and CIS, including listed real estate investment trusts (“REITS”). Exposure to commodities will be gained indirectly through ETFs and
FDI (such as a total return swap on a commodity index). The Sub-Fund will only gain exposure to commodity indices that comply with the ESMA Guidelines on ETFs and other UCITS Issues (as may be amended from time to time) as well as the Central Bank UCITS Regulations (as may be amended or replaced from time to time) and the
Central Bank’s Guidance on “UCITS Financial Indices”. No
direct investment will be made in commodities or
property.
In relation to ETFs (as further described under the heading “Collective Investment Schemes” below), these will be listed on Eligible Markets and give exposure to
commodity indices.
The Sub-Fund may invest on a global basis and there is no geographical, industry or sector focus in relation to the equities or other asset classes to which exposure may be taken. The Sub-Fund may invest more than 30% of its Net Asset Value in emerging market countries.
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in transferable securities or money market instruments which are not admitted to or dealt in on an Eligible Market, in accordance with the UCITS Regulations, including, but not limited to unlisted equities and Debt and Debt-Related Securities.
Whilst the Sub-Fund’s base currency is USD, it may invest in non-USD denominated assets which may not necessarily be hedged back into USD.
With the exception of permitted investment in unlisted securities and open-ended CIS, the Sub-Fund will typically invest in a diversified and broad range of these asset classes which will be listed or traded on Eligible Markets located worldwide. The Sub-Fund may invest up to 10% of its Net Asset Value in securities listed or traded on Russian markets listed in Appendix II to the Prospectus.
The Sub-Fund may also hold high levels of cash in certain circumstances. Such circumstances include where market conditions may require a defensive investment strategy, the holding of cash on deposit pending reinvestment, the holding of cash in order to meet redemptions and payment of expenses or in order to support FDI exposure.

##### Property
The Sub-Fund may gain exposure to property through property related securities including listed REITS, equity securities of companies whose principal business is the ownership, management and/or development of real estate or FDI (including futures and swaps) based on
REIT indices or other property-related indices described above which meet with the Central Bank’s requirements.

##### Cash and Collateral Management
For cash and collateral management purposes the Sub- Fund may, from time to time, invest in a broad range of liquid or near cash assets which can be held to provide liquidity and cover for exposures generated through the use of FDI.
Liquid or near cash assets may include Debt and Debt- Related Securities, bank deposits and obligations issued or guaranteed by any sovereign government or their agencies and securities, instruments and obligations issued by supranational or public international bodies, banks, corporates or other commercial issuers. It is intended that issuers and/or guarantors of any such securities, instruments or obligations will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a Recognised Rating Agency, or will be deemed by the Investment Manager to be of equivalent quality.
The Sub-Fund may also invest in money market funds including Irish UCITS.

##### Collective Investment Schemes
The Sub-Fund may also pursue its objectives and policies by taking positions in CIS, subject to a maximum of 10% of its Net Asset Value. Any investment in open-ended
ETFs will be subject to the 10% limit above” and any
investment in closed-ended ETFs shall constitute an
investment in a transferable security in accordance with the requirements of the Central Bank.

##### Benchmark
The Sub-Fund is actively managed and is not managed with reference to a benchmark.

##### Investment Strategy
The Sub-Fund employs a global multi-asset strategy which allocates directly and indirectly to equities, debt, currencies and alternative investments (such as commodity indices, REITS, and FDI as set out under the
heading “Use of FDI” below) primarily through long and
synthetic short positions in FDI. Synthetic short positions
represent approximately 1/3 (one third) and long
positions represent approximately 2/3 (two thirds) of the Sub-Fund’s overall exposure but this split may vary from time to time. The Sub-Fund may take synthetic short
positions in any of the asset classes set out in this Supplement (as further described below).
From this broad opportunity set, the portfolio is constructed using both a top down global macro assessment and bottom-up fundamental asset class valuation. The asset allocation is unconstrained with no focus on any particular asset class. The Investment Manager allocates long positions to asset classes that are relatively inexpensive to their fundamental valuation and synthetic short positions to asset classes that are relatively expensive to their fundamental valuation.
The Sub-Fund aims deliver total returns similar to that of equities with less correlation to, and risk than traditional equities. Additionally the Sub-Fund aims to minimise its negative returns relative to traditional equities over a full business cycle through risk management and dynamic rebalancing of the portfolio.
The Sub-Fund may use synthetic short positions, leverage and options primarily as defensive risk management tools but also in order to generate positive returns when prices fall. In accordance with the multi-asset strategy of the Sub-Fund, the Investment Manager may use synthetic short positions to go short in any asset class described in the Supplement, including, but not limited to, growth assets such as equity indices, hedging assets such as sovereign bonds, or real assets. The Sub-Fund intends to short companies, issuers or markets where the Investment Manager views a relative weakness in companies versus other stronger companies, markets or issuers. Leverage can also be employed for risk management purposes and an example would be employing leverage to go long on hedging assets, such as sovereign bonds, in order to protect the Sub-Fund from a negatively correlated risky asset. Options can be used as a defensive risk management tool by limiting the downside risk. An example of using options in such a way would be the purchase of put options on equity indices or risky assets.
As outlined above, the Sub-Fund may seek to hold long and synthetic short positions. A short position is created when a fund sells an asset. The Sub-Fund may use a future, for example, to implement a short position or it
may want to sell an individual security short which it does not own, with the intention of buying it back in the future. If the price of the asset falls, then the value of the position increases and vice versa. This last type of short is called short selling of physical securities and UCITS Regulations prohibit this. For the avoidance of doubt, the Sub-Fund will not physically short sell securities. However the UCITS Regulations do allow the creation of synthetic short positions (synthetic in this
context meaning essentially achieving the same economic outcome without actually selling short) through the use
of FDI instruments. The Sub-Fund may use any of the instruments listed below under the heading “Use of FDI” when implementing a shorting strategy. Shorting can be
used to hedge and to control the risk of the Sub-Fund or to express a view on the direction of the market.
Therefore the level of shorting applied within the Sub- Fund will depend on the Investment Manager’s views on the direction of the market or the level of risk the
Investment Manager wishes to hedge. The level of shorting will be taken into consideration when monitoring
the Sub-Fund’s risk limits.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and over-the-counter FDI for investment purposes:
| Futures | Currency Futures Equity Index Futures Dividend Futures Interest Rate Futures (including Short Term Interest Rate Futures) Bond Futures Volatility Index Futures Property Index Futures Commodity Index Futures Money Market Futures |
| --- | --- |
| Options | Currency Options (including Barrier Options) Equity Options (single name, index, sector, custom basket) Index Options Dividend Options Options on interest rate futures Bond Options Options on Dividend Futures Options on Credit Default Swaps Swaptions (including interest rate swaptions) Options on Currency Futures Warrants Options on Equity Futures |
| Forwards | Forward Foreign Exchange Contracts |
| Swaps | Variance Swaps Equity Swaps (single name, index and sector) Credit Default Swaps (single name and index) Dividend Swaps Interest Rate Swaps, Inflation Rate Swaps Currency Swaps Asset Swaps Total Return Swaps (including single name credit) Property Index Swaps Infrastructure Index Swaps Commodity Index Swaps Contracts for Difference (single name equity and sector) |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial
purpose, are described in the Prospectus in the section entitled “The Company – Financial Derivative Instruments and Techniques”.

##### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both efficient portfolio management (EPM) and investment purposes. The Sub- Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Commodity Indices to provide exposure to commodity sectors such as energy, industrial metals, agricultural products, livestock products and precious metals as the Sub-fund will not invest in commodities directly. | Bloomberg Commodity Index S&P GSCI Index |
| Equity indices to provide exposure to regional and global equity markets in a more cost effective or efficient manner than buying the physical securities. | AEX Index ASX 200 Index CAC- 40 Index DAX 30 Index Hang Seng Index IBEX 35 Index FTSE 100 Index FTSE MIB Index S&P 500 Index S&P/TSX 60 Index S&P Emerging Markets Index Swiss Markit Index TOPIX |

These financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where
additional information can be found, will be set out in the Company’s semi-annual and annual accounts.

##### Long and Short Positions
The Sub-Fund may employ synthetic long and synthetic short exposures in each of the asset classes referenced in the Investment Policy to achieve its investment objective. The total gross long exposure though FDI is not expected to exceed 1000% of the Net Asset Value of the Sub-Fund and the total gross short exposure is not expected to exceed 1000% of the Net Asset Value of the Sub-Fund.

#### Issue of Shares
The initial offering (the “Initial Offer Period”) for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall
continue until 30 April, 2021 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1£, 1€, 1CHF, 1CAD or 1SGD depending on the currency of the
relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Repurchase of Shares
Shares in each class may be repurchased, at the option of the relevant Shareholder, on any Valuation Day at the Valuation Point. The Repurchase Price is the Net Asset Value per Share of that class calculated as at the Valuation Point less the applicable redemption fee.
All requests for the repurchase of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Investment and Borrowing Restrictions
The Sub-Fund’s investment and borrowing restrictions are as set out under the heading “The Company - Investment and Borrowing Restrictions” in the Prospectus.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Absolute VaR
Absolute VaR Limit: 10% of the Net Asset Value of the Sub-Fund (using a 5 Business Day holding period)
Gross leverage is expected to vary between: 100 – 2000% of the Net Asset Value. The gross leverage may exceed this target level at times
For more information on the Absolute VaR approach and Gross Leverage, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise stocklending arrangements and repurchase/reverse repurchase agreements for efficient portfolio management (EPM) purposes, subject to the conditions and limits set out in
the Central Bank UCITS Regulations. Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of
techniques and FDI the Sub-Fund may use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in securities financing transactions (“SFTs”), i.e.
stocklending arrangements and repurchase/reverse
repurchase agreements, as described under the heading
“Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 30% and in respect of SFTs shall be 100% of the Net Asset Value of the Sub-Fund. However, it is
not anticipated that the Sub-Fund’s exposure in respect
of TRS will exceed 20% and in respect of SFTs will
exceed 60% of the Net Asset Value of the Sub-Fund. The types of assets that will be subject to TRS will be of a type which is consistent with the investment policy of the Sub-Fund. The types of assets that will be subject to stocklending arrangements and repurchase/reverse repurchase agreements respectively will be assets which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Stocklending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Share Class Hedging
This Sub-Fund offers hedged share classes. Such share classes are indicated by the suffix “(hedged)” Please see the section entitled “Share Class Hedging” in the Prospectus for further information on the operation and
impact of hedged share classes.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February. Further details
are set out under the heading “The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are set out under the sub-heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management fee payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors’ attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Global Leaders Fund

### SUPPLEMENT 29 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
Walter Scott & Partners Limited

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company – Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| EUR A (Acc.) | EUR | 5,000 | 5% | 2.00% | 0% |
| EUR A (Inc.) | EUR | 5,000 | 5% | 2.00% | 0% |
| USD A (Acc.) | USD | 5,000 | 5% | 2.00% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 2.00% | 0% |
| Sterling A (Acc.) | GBP | 5,000 | 5% | 2.00% | 0% |
| Sterling A (Inc.) | GBP | 5,000 | 5% | 2.00% | 0% |
| CHF A (Acc.) | CHF | 5,000 | 5% | 2.00% | 0% |
| CHF A (Inc.) | CHF | 5,000 | 5% | 2.00% | 0% |
| EUR H (Acc.) (hedged) | EUR | 5,000 | 5% | 2.00% | 0% |
| EUR H (Inc.) (hedged) | EUR | 5,000 | 5% | 2.00% | 0% |
| Sterling H (Acc.) (hedged) | GBP | 5,000 | 5% | 2.00% | 0% |
| Sterling H (Inc.) (hedged) | GBP | 5,000 | 5% | 2.00% | 0% |
| CHF H (Acc.) (hedged) | CHF | 5,000 | 5% | 2.00% | 0% |
| CHF H (Inc.) (hedged) | CHF | 5,000 | 5% | 2.00% | 0% |
| DKK H (Acc.) (hedged) | DKK | 50,000 | 5% | 2.00% | 0% |
| NOK H (Acc.) (hedged) | NOK | 50,000 | 5% | 2.00% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| SEK H (Acc.) (hedged) | SEK | 50,000 | 5% | 2.00% | 0% |

| “B” Shares and “J (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| EUR B (Acc.) | EUR | 10,000 | 5% | 1.50% | 0% |
| EUR B (Inc.) | EUR | 10,000 | 5% | 1.50% | 0% |
| USD B (Acc.) | USD | 10,000 | 5% | 1.50% | 0% |
| USD B (Inc.) | USD | 10,000 | 5% | 1.50% | 0% |
| AUD B (Acc.) | AUD | 10,000 | 5% | 1.50% | 0% |
| CAD B (Acc.) | CAD | 10,000 | 5% | 1.50% | 0% |
| CNH B (Acc.) | CNH | 100,000 | 5% | 1.50% | 0% |
| HKD B (Acc.) | HKD | 100,000 | 5% | 1.50% | 0% |
| SGD B (Acc.) | SGD | 10,000 | 5% | 1.50% | 0% |
| SGD B (Inc.) | SGD | 10,000 | 5% | 1.50% | 0% |
| SGD J (Acc.) (hedged) | SGD | 10,000 | 5% | 1.50% | 0% |
| EUR J (Acc.) (hedged) | EUR | 10,000 | 5% | 1.50% | 0% |
| AUD J (Acc.) (hedged) | AUD | 10,000 | 5% | 1.50% | 0% |
| CAD J (Acc.) (hedged) | CAD | 10,000 | 5% | 1.50% | 0% |
| CNH J (Acc.) (hedged) | CNH | 100,000 | 5% | 1.50% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 1.00% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Acc.) | GBP | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Inc.) | GBP | 5,000 | 5% | 1.00% | 0% |
| EUR G (Acc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| EUR G (Inc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| EUR C (Acc.) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| EUR C (Inc.) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| USD C (Acc.) | USD | 5,000,000 | 5% | 1.00% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Acc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Inc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| CHF C (Acc.) | CHF | 5,000,000 | 5% | 1.00% | 0% |
| CHF C (Inc.) | CHF | 5,000,000 | 5% | 1.00% | 0% |
| EUR I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| EUR I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Sterling I (Acc.) (hedged) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Sterling I (Inc.) (hedged) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| CHF I (Acc.) (hedged) | CHF | 5,000,000 | 5% | 1.00% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| CHF I (Inc.) (hedged) | CHF | 5,000,000 | 5% | 1.00% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| EUR W (Acc.) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| EUR W (Inc.) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.75% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Acc.) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Inc.) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| EUR W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| EUR W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Inc.) (hedged) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| AUD W (Acc.) (hedged) | AUD | 15,000,000 | 5% | 0.75% | 0% |
| CAD W (Acc.) (hedged) | CAD | 15,000,000 | 5% | 0.75% | 0% |
| HKD W (Acc.) | HKD | 150,000,000 | 5% | 0.75% | 0% |
| CNH W (Acc.) (hedged) | CNH | 150,000,000 | 5% | 0.75% | 0% |
| SGD W (Acc.) (hedged) | SGD | 15,000,000 | 5% | 0.75% | 0% |
| DKK W (Acc.) (hedged) | DKK | 150,000,000 | 5% | 0.75% | 0% |
| NOK W (Acc.) (hedged) | NOK | 150,000,000 | 5% | 0.75% | 0% |
| SEK W (Acc.) (hedged) | SEK | 150,000,000 | 5% | 0.75% | 0% |

| “U” Shares and “U (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Hurdle Rate |
| USD U (Acc.) | USD | 15,000,000 | 5% | 0.20% | 0% | 20% | MSCI World Index (with net dividends reinvested) in USD terms |
| USD U (Inc.) | USD | 15,000,000 | 5% | 0.20% | 0% | 20% | MSCI World Index (with net dividends reinvested) in USD terms |
| EUR U (Acc.) | EUR | 15,000,000 | 5% | 0.20% | 0% | 20% | MSCI World Index (with net dividends reinvested) in Euro terms |
| EUR U (Inc.) | EUR | 15,000,000 | 5% | 0.20% | 0% | 20% | MSCI World Index (with net dividends reinvested) in Euro terms |

| “E” Shares and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| EUR E (Acc.) | EUR | As agreed | 5% | 0.50% | 0% |
| EUR E (Inc.) | EUR | As agreed | 5% | 0.50% | 0% |
| USD E (Acc.) | USD | As agreed | 5% | 0.50% | 0% |
| USD E (Inc.) | USD | As agreed | 5% | 0.50% | 0% |
| Sterling E (Acc.) | GBP | As agreed | 5% | 0.50% | 0% |
| Sterling E (Inc.) | GBP | As agreed | 5% | 0.50% | 0% |
| CHF E (Acc.) | CHF | As agreed | 5% | 0.50% | 0% |
| CHF E (Inc.) | CHF | As agreed | 5% | 0.50% | 0% |
| EUR E (Acc.) (hedged) | EUR | As agreed | 5% | 0.50% | 0% |
| EUR E (Inc.) (hedged) | EUR | As agreed | 5% | 0.50% | 0% |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.50% | 0% |
| Sterling E (Inc.) (hedged) | GBP | As agreed | 5% | 0.50% | 0% |
| CHF E (Acc.) (hedged) | CHF | As agreed | 5% | 0.50% | 0% |
| CHF E (Inc.) (hedged) | CHF | As agreed | 5% | 0.50% | 0% |

| “X” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| EUR X (Acc.) | EUR | None | 0% | 0% | 0% |
| EUR X (Inc.) | EUR | None | 0% | 0% | 0% |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| Sterling X (Acc.) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) | GBP | None | 0% | 0% | 0% |
| CHF X (Acc.) | CHF | None | 0% | 0% | 0% |
| CHF X (Inc.) | CHF | None | 0% | 0% | 0% |


#### Performance Fee
In addition to the annual management charge, the Manager will be entitled to an annual performance fee
(the “Performance Fee”) subject to the conditions outlined
below. The rate at which the Performance Fee shall be
applied is set out in the table above. Performance Fees reduce the value of your investment and the investment return you will receive.
The Performance Fee in respect of each relevant Share Class is calculated as the performance fee rate (set out in the table above) of the Share Class Return (as defined below) over the Hurdle Rate Return (as defined below).
The Performance Fee will be calculated in respect of each twelve-month period ending on the 31 December
(the “Calculation Period”). The first Calculation Period will
be the period commencing on the Business Day
immediately following the closing of the Initial Offer Period and ending on 31 December of the same year.
The “Share Class Return” is calculated on each Valuation Day and is the percentage difference between the
Adjusted Net Asset Value on such Valuation Day and the Adjusted Net Asset Value on the previous Valuation Day.
The “Adjusted Net Asset Value” is the Net Asset Value of the relevant share class (which includes an accrual for all fees and expenses including the annual management
charge and the operating and administrative expenses to be borne by the relevant share class, adjusted for any dividend distributions) but without deduction of any Performance Fee accrued since the start of the Calculation Period.
The “Hurdle Rate” is set out in the table above and is consistent with the investment policy of the Sub-Fund. A
hurdle rate is a predetermined level of return a fund must exceed to earn a performance fee. Past performance of the Sub-Fund against MSCI World NR Index is disclosed in the KIID for the relevant Class of Shares.
The “Hurdle Rate Return” is calculated on each Valuation Day and is the percentage difference between the Hurdle Rate on such Valuation Day and the Hurdle Rate on the
previous Valuation Day.
On each Valuation Day, an Adjusted Net Asset Value is calculated in respect of each share class for which the Performance Fee applies. If the Share Class Return exceeds the Hurdle Rate Return, a Performance Fee is accrued.
If the Share Class Return does not exceed the Hurdle Rate Return, the Performance Fee accrual is reduced (not below zero). The Performance Fee is reduced by an amount calculated as the performance fee percentage (as set out in the table above) of the underperformance of the Share Class Return against the Hurdle Rate Return (the negative return) multiplied by the Shares in issue.
Once the Performance Fee accrual has been reduced to zero, no new Performance Fee is accrued until (i) the cumulative Share Class Return exceeds the cumulative Hurdle Rate Return since the beginning of the Calculation Period.
Clawback – Following a Calculation Period in which no Performance Fee has been charged, no Performance Fee
will accrue until the cumulative Share Class Return (since the last Valuation Day of the last accounting year in which a Performance Fee was charged) exceeds the cumulative Hurdle Rate Return (since the last Valuation Day of the last accounting year in which a Performance Fee was charged).
If no Performance Fee has been charged since the launch of a share class, no Performance Fee will accrue until such time as the cumulative Share Class Return (since the launch of that share class) exceeds the cumulative Hurdle Rate Return accrued since the launch of that share class.
The Performance Fee accrued on each Valuation Day is reflected in the Net Asset Value per Share on the basis of which subscriptions, redemptions, switches or transfers may be accepted.
Included in the calculation of the Performance Fee shall be net realised and unrealised capital gains plus net realised and unrealised capital losses as at the end of the relevant period. As a result, Performance Fees may be paid on unrealised gains which may subsequently never be realised.
Positive performance may be generated by market movements as well as active portfolio management; this may lead to circumstances where a portion of the Performance Fee is paid based on market movements.
The calculation of the Performance Fee is not open to the possibility of manipulation and shall be verified by the Depositary.
The Performance Fee is calculated and accrued on each Valuation Day and paid yearly in arrears, in respect of each Calculation Period. Any Performance Fee due will generally be paid within 30 Business Days after the end of each Calculation Period, the date of any redemption, the date of a merger (subject to the requirements of the Central Bank), the date of termination of the Management Agreement or such other date on which the Company or the Sub-Fund may be liquidated or cease trading.

##### Examples of how the performance fee will be calculated
Please note the performance fee model allows for performance fees to be charged where the Sub-Fund has outperformed the Hurdle Rate, but overall has negative performance.
| Valuation Day | Adjusted Net Asset Value at end of Calculation Period | Hurdle Rate Return ex- pressed in pence | Excess Return expressed in pence* | Performance Fee** | Net Asset Value at end of Calculation Period | Description of the example |
| --- | --- | --- | --- | --- | --- | --- |
| 31 December (year one) | 105p | 102p | 3p | 0.6p | 104.4p | Performance of the Adjusted Net Asset Value over the Calculation Period resulted in an Adjusted Net Asset Value of 105p at end of year one, which is higher than the Hurdle Rate Return of 102p and the Excess Return of 3p is positive. Therefore, a Performance Fee of 0.60p was paid. |
| 31 December (year two) | 95p | 106p | 0p | 0p | 95p | Performance of the Adjusted Net Asset Value over the Calculation Period resulted in an Adjusted Net Asset Value of 95p at the end of year two, which is lower than the Hurdle Rate Return of 106p. Therefore, no Performance Fee was paid. |
| 31 December (year three) | 104p | 105p | 0p | 0p | 104p | Performance of the Adjusted Net Asset Value over the Calculation Period resulted in an Adjusted Net Asset Value of 104p at end of year three, which is lower than the Hurdle Rate Return of 105p. Therefore, no Performance Fee was paid. |

| Valuation Day | Adjusted Net Asset Value at end of Calculation Period | Hurdle Rate Return ex- pressed in pence | Excess Return expressed in pence* | Performance Fee** | Net Asset Value at end of Calculation Period | Description of the example |
| --- | --- | --- | --- | --- | --- | --- |
| 31 December (year four) | 110p | 108p | 2p | 0.40p | 109.6p | Performance of the Adjusted Net Asset Value over the Calculation Period resulted in an Adjusted Net Asset Value of 110p at end of year four, which is higher than the Hurdle Rate of 108p and the Excess Return of 2p is positive. Therefore, a Performance Fee of 0.40p was paid. |

*Excess Return is the outperformance of the Share Class Return over the Hurdle Rate Return
**20% of Excess Return

#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to achieve long-term capital growth.

##### Investment Policy
The Sub-Fund invests primarily (meaning at least three- quarters of the Sub-Fund's Net Asset Value) in equity and equity-related securities (common and preferred stock, American depositary receipts and global depository receipts, securities convertible into or exchangeable for such equities) issued by large-capitalisation companies located worldwide. Large-capitalisation companies typically refer to companies with a market capitalisation value of more than US$10 billion at the time of purchase, however the minimum market capitalisation threshold for the Sub-Fund is at the discretion of the Investment Manager.
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in open-ended collective investment
schemes (“CIS”). Investment in CIS may be used for cash
management purposes (e.g. via money market funds) or
to give exposure to the equity and equity-related securities listed in the investment policy above. The Sub- Fund may hold ancillary liquid assets such as bank deposits.
The Sub-Fund invests on a global basis and while there is no geographical, industry or sector focus, the Sub-Fund may at times be concentrated in particular industry or sectors including emerging market countries and the U.S. The Sub-Fund may invest more than 20% of its Net Asset Value in emerging market countries, and there is no investment limitation in relation to such investments.
Examples of emerging market countries include, but are not limited to, Brazil, Chile, Columbia, Mexico, Peru, Czech Republic, Egypt, Greece, Hungary, Poland, Qatar, Russia, South Africa, Turkey, United Arab Emirates, China, India, Indonesia, Korea, Malaysia, Pakistan, Philippines, Taiwan and Thailand.
The Sub-Fund may use FDIs, as outlined in the sections headed “Efficient Portfolio Management” in the Prospectus for hedging and efficient portfolio
management purposes only.
In general, the Sub-Fund will be exposed to the currency fluctuations that are incidental to its investment in equity and equity-related securities. While the Investment
Manager will not seek to add value by speculating in currencies, it will generally leave the Sub-Fund’s currency exposure unhedged. Notwithstanding the foregoing, the
Investment Manager will regularly monitor and review currency exposure and will employ currency hedging when the Investment Manager perceives that currency exposure presents significant risk.

##### Benchmark
MSCI World NR Index (the “Benchmark”).
The Benchmark is a broad global equity index that is designed to represent the performance of large and mid capitalisation securities across 23 developed markets countries including: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom and the United States of America. The Benchmark covers approximately 85% of the free float- adjusted market capitalisation in each country.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest
outside the Benchmark subject to the investment objective and policy. While the Sub-Fund’s holdings may include constituents of the Benchmark, the selection of
investments and their weightings in the portfolio are not influenced by the Benchmark. The investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.

##### Investment Strategy
The Investment Strategy of the Sub-Fund is to achieve long-term capital growth through investing primarily in a concentrated portfolio of equity and equity-related securities focused on large-capitalisation companies located worldwide.
The investment philosophy and process is consistent with the Investment Manager’s existing philosophical framework: a long-term investment approach based on
rigorous bottom-up company analysis with the aim of identifying companies with superior wealth generation
prospects. This reflects a fundamental belief that, over time, a portfolio’s investment return never exceeds the wealth created by the underlying companies. As a result, the focus of the Investment Manager’s research team is to identify those companies with wealth generation capabilities consistent with the portfolio’s investment objective.
Given the concentrated nature of the Investment Strategy, a high degree of confidence is required in relation to large-capitalisation companies comprising the
portfolio. In particular, in considering whether a company is regarded as a “global leader’, two key criteria will influence the portfolio construction process. Firstly, the
Investment Manager expects to focus on those large- capitalisation companies with a strong or market leading position in the markets in which each company operates and with a business model geared towards sustaining that position through competitive advantage. Secondly, the Investment Manager aims to identify industry sectors of the global economy with compelling prospects for expansion and select a company or companies within those industry sectors with a strong or market leading position. Therefore, the portfolio construction process of the Investment Strategy is not only focused on selecting industry leading companies with enduring competitive advantage, but also those operating within industry sectors with compelling prospects for global expansion.
Because of the long-term nature of this Sub-Fund, it is expected that the equity and equity-related securities within the portfolio will be purchased with a view to holding them for a period of 3 to 5 years. The portfolio turnover will remain low throughout the life of the Sub-
Fund as it is integral to the Investment Manager’s
process as described above. As such, whilst investors
may benefit from short-term gains, the Investment Manager will not be targeting them specifically.

##### The Sustainable Finance Disclosure Regulation
The management of sustainability risk is fully integrated into the investment process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively impacted by
an ESG event or condition (“ESG Event”).
When researching any company, regardless of geography and sector, the Investment Manager applies the same analytical framework. This framework is both quantitative and qualitative and involves analysis of historical financial records alongside consideration of seven key areas of investigation:
- business activities and physical footprint
- integrity, sustainability and governance
- market characteristics
- control of destiny
- financial profile
- management and board
- valuation and tradingThe Investment Manager’s analysis of integrity, sustainability and governance practices includesassessing and monitoring companies on relevant and material factors across four key areas:
- environmental considerations
- climate risk and climate change
- human and social capital
- governanceThis process allows the Investment Manager to examine every factor that could affect the long-term success of a business before investing. As part of the InvestmentManager’s ongoing assessment of a company, it isupdated, reviewed and discussed annually, allowing theInvestment Manager to monitor progress over time.

While all research is the Investment Manager’s own, it is augmented with information and analysis from external sources, including third-party research providers,
academics and subject matter experts. The Investment Manager’s regular engagement with company management also contributes to its overall assessment
of a company.
As explained above, the management and assessment of sustainability risks is fully integrated into the Investment Manager's investment process, however there may still be a risk that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Registration in Germany
This Sub-Fund is registered for sale in Germany. The Sub- Fund is classified as an Equity Fund for German tax purposes and as such it will permanently invest more than 50% of its assets in equities as defined in article 2 paragraph 8 of the German Investment Tax Act.

#### Registration in Hong Kong
This Sub-Fund is registered for sale in Hong Kong.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 50% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
In utilising FDI for EPM purposes, the Sub-Fund may gain indirect exposure to financial indices.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. securities lending arrangements and repurchase/reverse repurchase
agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of
SFTs shall be 100% of the Net Asset Value of the Sub- Fund. However, it is not anticipated that the Sub-Fund’s exposure to the SFTs will exceed 15% of the Net Asset
Value. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be issued during their respective Initial Offer Periods at their
respective initial offer price per Share of 1USD, 1£, 1€,
1CAD, 1AUD, 1CHF, 10HKD, 10CNH, 10DKK, 10NOK or
10SEK depending on the currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February. Further details
are set out under the heading “The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are set out under the sub-heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors’ attention is particularly drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Targeted Return Bond Fund

### SUPPLEMENT 30 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
Insight North America LLC

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| EUR A (Acc.) | EUR | 5,000 | 5% | 1.50% | 0% |
| EUR A (Inc.) | EUR | 5,000 | 5% | 1.50% | 0% |
| USD A (Acc.) | USD | 5,000 | 5% | 1.50% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 1.50% | 0% |
| Sterling A (Acc.) | GBP | 5,000 | 5% | 1.50% | 0% |
| Sterling A (Inc.) | GBP | 5,000 | 5% | 1.50% | 0% |
| CHF A (Acc.) | CHF | 5,000 | 5% | 1.50% | 0% |
| CHF A (Inc.) | CHF | 5,000 | 5% | 1.50% | 0% |
| EUR H (Acc.) (hedged) | EUR | 5,000 | 5% | 1.50% | 0% |
| EUR H (Inc.) (hedged) | EUR | 5,000 | 5% | 1.50% | 0% |
| Sterling H (Acc.) (hedged) | GBP | 5,000 | 5% | 1.50% | 0% |
| Sterling H (Inc.) (hedged) | GBP | 5,000 | 5% | 1.50% | 0% |
| CHF H (Acc.) (hedged) | CHF | 5,000 | 5% | 1.50% | 0% |
| CHF H (Inc.) (hedged) | CHF | 5,000 | 5% | 1.50% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| EUR C (Acc.) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| EUR C (Inc.) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| USD C (Acc.) | USD | 5,000,000 | 5% | 1.00% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Acc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Inc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| CHF C (Acc.) | CHF | 5,000,000 | 5% | 1.00% | 0% |
| CHF C (Inc.) | CHF | 5,000,000 | 5% | 1.00% | 0% |
| EUR I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| EUR I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Sterling I (Acc.) (hedged) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Sterling I (Inc.) (hedged) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| CHF I (Acc.) (hedged) | CHF | 5,000,000 | 5% | 1.00% | 0% |
| CHF I (Inc.) (hedged) | CHF | 5,000,000 | 5% | 1.00% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| EUR W (Acc.) | EUR | 15,000,000 | 5% | 0.65% | 0% |
| EUR W (Inc.) | EUR | 15,000,000 | 5% | 0.65% | 0% |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.65% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.65% | 0% |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.65% | 0% |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.65% | 0% |
| CHF W (Acc.) | CHF | 15,000,000 | 5% | 0.65% | 0% |
| CHF W (Inc.) | CHF | 15,000,000 | 5% | 0.65% | 0% |
| EUR W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.65% | 0% |
| EUR W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.65% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.65% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.65% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.65% | 0% |
| CHF W (Inc.) (hedged) | CHF | 15,000,000 | 5% | 0.65% | 0% |

| “X” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| EUR X (Acc.) | EUR | None | 0% | 0% | 0% |
| EUR X (Inc.) | EUR | None | 0% | 0% | 0% |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| Sterling X (Acc.) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) | GBP | None | 0% | 0% | 0% |
| CHF X (Acc.) | CHF | None | 0% | 0% | 0% |
| CHF X (Inc.) | CHF | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to achieve a total return from income and capital growth.

##### Investment Policy
The Sub-Fund is a globally diversified, multi-sector fund that aims to achieve its investment objective by investing in a portfolio of international, sovereign, government, supranational agency, corporate, bank and other fixed and/or floating rate bonds (including mortgage and corporate bonds) and other debt and debt-related securities (such as debentures, notes (including corporate, sovereign, floating and fixed rate notes, zero coupon, interest only bonds and principal only bonds), secured debt (including asset and mortgage-backed securities, covered bonds, collateralised debt and mortgage obligations), payment-in-kind, toggle bonds, step-up bonds, loan participation and surplus notes, hybrids (including perpetual bonds, cumulative bonds, non-cumulative bonds and trust preferred securities), guaranteed investment certificates and deferred
interests) hereinafter “Debt and Debt-Related Securities”,
and in FDI relating to such instruments as set out under the heading “Use of FDI”) below, money market instruments (commercial paper and bank deposits),
private placements (such as Reg S bonds and 144A bonds) and securities convertible into or exchangeable for equities which will embed FDI and/ or leverage
(convertible bonds and Contingent Convertible Securities (“CoCos”)), the majority of which will be listed or traded on Eligible Markets located worldwide.
The Sub-Fund may invest up to 10% of its Net Asset Value in CoCos. Please see “Contingent Convertible Securities (CoCos) Risk” in the Prospectus for details of the risks associated with CoCos.
The Sub-Fund may invest up to 10% of its Net Asset Value in unsecuritised loan participations provided such instruments constitute money market instruments normally dealt in the money market, are liquid and have a value that may be accurately determined at any time.
The Sub-Fund invests on a global basis and while there is no geographical, industry or sector focus, the Sub-Fund may at times be concentrated in particular industry or sectors including emerging market countries and the U.S. The Sub-Fund may invest up to 40% of its Net Asset Value in emerging market countries.
The Sub-Fund may also invest up to 10% of its Net Asset Value in Debt and Debt-Related Securities in the People’s Republic of China (“PRC”) traded in the China interbank bond market (“CIBM”) via Bond Connect (as further described Appendix VI to the Prospectus.)
The Investment Manager will not be restricted by credit quality or maturity therefore no minimum credit rating will apply to the investments of the Sub-Fund, which may be rated below investment grade (subject to a limit of 75%) as rated by a Recognised Rating Agency. The Sub-
Fund may hold up to 10% of its Net Asset Value in unrated securities provided it’s of equivalent quality as determined by the Investment Manager.
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in transferable securities or money market instruments which are not admitted to or dealt in
on an Eligible Market, in accordance with the UCITS Regulations, including, but not limited to unlisted equities and Debt and Debt-Related Securities.
The Sub-Fund aims to deliver a total return from income and capital growth of 6% per annum over a full market cycle (typically three to five years) before fees. However, a positive return is not guaranteed and a capital loss may occur.

##### Collective Investment Schemes
The Sub-Fund may also invest up to 10% of the Net Asset Value of the Sub-Fund in CIS including open-ended exchange traded funds. The schemes in which the Sub- Fund invests may also be managed by a Sub-Investment Manager, the Investment Manager or by entities affiliated to any of them.

##### Benchmark
The Sub-Fund is actively managed and is not managed with reference to a benchmark.

##### Investment Strategy
The Investment Manager employs a dynamic and active approach to portfolio management through investment in a wide array of fixed income, currency and FDI (as
detailed above in the section “Investment Policy and below in the section “Use of FDI””), in order to reduce risk via diversification and enhance potential returns. The
investment process combines top-down macroeconomic research with bottom-up sector and security selection. The Investment Manager utilizes proprietary fundamental research techniques, supplemented by quantitative models, to identify attractive investment opportunities. Portfolio construction is carried out by fund managers within a prescribed risk budget for each investment risk category.

##### The Sustainable Finance Disclosure Regulation
The management of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively impacted by
an ESG event or condition (“ESG Event”).
As part of the bottom-up security research process, the Investment Manager assesses the environmental, social and governance factors of each portfolio investment for potential sustainability risks. These factors may include, but are not limited to, an issuers impact on the environment, including emissions, land use and waste
practices, and an issuer’s social policies and practices,
including employee matters, supply chain practices and human rights policies. The Investment Manager’s internal credit research includes resources such as the Investment Manager’s proprietary ESG score as an input and is supplemented with third-party resources including
MSCI ESG data and ratings, Bloomberg ESG data, Sustainability Accounting Standards Board’s (SASB) Engagement Guide, credit rating agency research, sell-
side research and industry events. This research into sustainability risks is taken into consideration, along with
the Investment Manager’s macroeconomic research and
credit analysis, in the security selection process.
The Investment Manager also assesses the governance practices of issuers through its fundamental research, supplemented by third-party governance scoring methodologies, in order to satisfy itself that the relevant issuers follow good governance practices, in particular with respect to sound management structures, employee relations, remuneration of staff and tax compliance.
The Investment Manager monitors sustainability factors
and risk exposures on a regular basis by reviewing regular reporting on both the Investment Manager’s proprietary and third-party ESG scores.
As explained above, the management and assessment of sustainability risks forms an important part of the Investment Manager's due diligence, however there may still be a risk that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
| Futures | Bond Futures Interest Rate Futures (including Short Term Interest Rate Futures) |
| --- | --- |
| Options | Currency Options (including Barrier Options) Options on Interest Rate Futures Swaptions (including interest rate swaptions) Bond Options |
| Forwards | Forward Foreign Exchange Contracts |
| Swaps | Credit Default Swaps (single name and index) Interest Rate Swaps Inflation Rate Swaps Currency Swaps Total Return Swaps (single name equity, credit, index, and basket (in the case of the latter, underlying components of which can be grouped by sector, geography or other characteristics)) |
| Securi- ties with Embed- ded FDI/ Leverage | Credit Linked Notes Convertible Securities (Convertible Bonds) Contingent Convertible Securities (CoCos) |

The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial
purpose, are described in the Prospectus in the section entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub-Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit CDX American Investment Grade High Volatility Index Markit CDX North American Investment Grade Index Markit CDX North American High Yield Index Markit CDX North American High Yield Beta Index Markit CDX Emerging Markets Index Markit CDX Emerging Markets Diversified Index Markit iTraxx Europe Index Markit iTraxx Crossover Index Markit iTraxx Financial Index Markit iTraxx Subordinated Financial Index |
| Interest rate indices to provide exposure to interest rate markets and to express the managers view that the yield curve will move in a particular direction in a more cost effective or efficient manner than buying physical securities. | EURIBOR LIBOR SOFR SONIA |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. The remaining financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where additional information can be found, will be set out in the
Company’s semi-annual and annual accounts.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Absolute VaR
Absolute VaR Limit: 20% of the Net Asset Value of the Sub-Fund (using a 20 Business Day holding period)
Gross leverage is expected to vary between: 100 – 2000% of the Net Asset Value. The gross leverage may exceed this target level at times
For more information on the Absolute VaR approach and Gross Leverage, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in SFTs, i.e. securities lending arrangements and
repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 10% and in respect of SFTs shall be 100%
of the Net Asset Value of the Sub-Fund. However, it is not anticipated that the Sub-Fund’s exposure in respect of TRS will exceed 10% and in respect of SFTs will
exceed 15% of the Net Asset Value of the Sub-Fund. The types of assets that will be subject to TRS and SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1£, 1€, or 1CHF depending on the currency of the relevant class
(plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset
Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11 November respectively. Further details are set out under
the heading "The Company - Distribution Policy” in the
Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are set out under the sub-heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors’ attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Global Credit Fund

### SUPPLEMENT 31 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be suitable for all investors.
- The Sub-Fund may, in exceptional circumstances, invest substantially in deposits with credit institutions. Although the Sub-Fund may invest in money market instruments and cash deposits, Shares in the Sub-Fund are not deposits and are different in nature to a deposit in that the investment is not guaranteed and the value of the investment is capable of fluctuation. Investment in the Sub-Fund involves certain investment risks, including the possible loss of principal.


#### The Investment Manager
Insight Investment Management (Global) Limited
The Investment Manager may delegate its investment management functions to a Sub-Investment Manager and/or appoint a sub-investment adviser to provide investment advice in accordance with the requirements of the Central Bank. As at the date of this Supplement, the Investment Manager has appointed the Sub- Investment Manager, as described below.

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its investment management functions with respect to this
Sub-Fund to Insight North America LLC (the “Sub- Investment Manager”). Details of the Sub-Investment Management Agreement between the Investment
Manager and the Sub-Investment Manager are set out under the heading “Sub-Investment Managers” in the Prospectus.

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD A (Acc.) | USD | 5,000 | 5% | 1.00% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 1.00% | 0% |
| USD A (Inc.) (Q) | USD | 5,000 | 5% | 1.00% | 0% |
| EUR H (Acc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| EUR H (Inc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| EUR H (Inc.) (hedged) (Q) | EUR | 5,000 | 5% | 1.00% | 0% |
| Sterling H (Acc.) (hedged) | GBP | 5,000 | 5% | 1.00% | 0% |
| Sterling H (Inc.) (hedged) | GBP | 5,000 | 5% | 1.00% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| CHF H (Acc.) (hedged) | CHF | 5,000 | 5% | 1.00% | 0% |
| CHF H (Inc.) (hedged) | CHF | 5,000 | 5% | 1.00% | 0% |
| AUD H (Acc.) (hedged) | AUD | 5,000 | 5% | 1.00% | 0% |
| AUD H (Inc.) (hedged) (Q) | AUD | 5,000 | 5% | 1.00% | 0% |
| CAD H (Acc.) (hedged) | CAD | 5,000 | 5% | 1.00% | 0% |
| CAD H (Inc.) (hedged) (Q) | CAD | 5,000 | 5% | 1.00% | 0% |
| CNH H (Acc.) (hedged) | CNH | 50,000 | 5% | 1.00% | 0% |
| CNH H (Inc.) (hedged) (Q) | CNH | 50,000 | 5% | 1.00% | 0% |
| SGD H (Acc.) (hedged) | SGD | 5,000 | 5% | 1.00% | 0% |
| SGD H (Inc.) (hedged) (Q) | SGD | 5,000 | 5% | 1.00% | 0% |

| “B” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD B (Acc.) | USD | 10,000 | 5% | 0.75% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 0.50% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 0.50% | 0% |
| EUR G (Acc.) (hedged) | EUR | 5,000 | 5% | 0.50% | 0% |
| EUR G (Inc.) (hedged) | EUR | 5,000 | 5% | 0.50% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD C (Acc.) | USD | 5,000,000 | 5% | 0.50% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 0.50% | 0% |
| EUR I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 0.50% | 0% |
| EUR I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 0.50% | 0% |
| Sterling I (Acc.) (hedged) | GBP | 5,000,000 | 5% | 0.50% | 0% |
| Sterling I (Inc.) (hedged) | GBP | 5,000,000 | 5% | 0.50% | 0% |
| CHF I (Acc.) (hedged) | CHF | 5,000,000 | 5% | 0.50% | 0% |
| CHF I (Inc.) (hedged) | CHF | 5,000,000 | 5% | 0.50% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.40% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.40% | 0% |
| USD W (Inc.) (Q) | USD | 15,000,000 | 5% | 0.40% | 0% |
| EUR W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.40% | 0% |
| EUR W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.40% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.40% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.40% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| CAD W (Acc.) (hedged) | CAD | 15,000,000 | 5% | 0.40% | 0% |
| CAD W (Inc.) (hedged) | CAD | 15,000,000 | 5% | 0.40% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.40% | 0% |
| CHF W (Inc.) (hedged) | CHF | 15,000,000 | 5% | 0.40% | 0% |
| AUD W (Inc.) (hedged) (Q) | AUD | 15,000,000 | 5% | 0.40% | 0% |
| CAD W (Inc.) (hedged) (Q) | CAD | 15,000,000 | 5% | 0.40% | 0% |
| HKD W (Inc.) (hedged) (Q) | HKD | 150,000,000 | 5% | 0.40% | 0% |
| CNH W (Inc.) (hedged) (Q) | CNH | 150,000,000 | 5% | 0.40% | 0% |
| SGD W (Inc.) (hedged) (Q) | SGD | 15,000,000 | 5% | 0.40% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| EUR X (Acc.) (hedged) | EUR | None | 0% | 0% | 0% |
| EUR X (Inc.) (hedged) | EUR | None | 0% | 0% | 0% |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| Sterling X (Acc.) (hedged) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) (hedged) | GBP | None | 0% | 0% | 0% |
| CAD X (Acc.) (hedged) | CAD | None | 0% | 0% | 0% |
| CAD X (Inc.) (hedged) | CAD | None | 0% | 0% | 0% |
| CHF X (Acc.) (hedged) | CHF | None | 0% | 0% | 0% |
| CHF X (Inc.) (hedged) | CHF | None | 0% | 0% | 0% |
| JPY X (Acc.) | JPY | None | 0% | 0% | 0% |
| JPY X (Inc.) | JPY | None | 0% | 0% | 0% |
| JPY X (Acc.) (hedged) | JPY | None | 0% | 0% | 0% |
| JPY X (Inc.) (hedged) | JPY | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to achieve a total return from income and capital growth.

##### Investment Policy
The Sub-Fund aims to achieve its investment objective by investing the majority of its Net Asset Value, meaning over 50%, in global credit markets. The remaining assets will be invested in non-credit debt and debt-related securities (debt and debt-related securities issued by governments, supranationals and public international bodies), currencies, cash and near cash assets as outlined below.
The Sub-Fund may invest in debt and debt-related securities (obligations, treasury bills, debentures, bonds, loans, asset-backed and mortgage-backed securities, certificates of deposit, floating rate notes, short and medium term obligations and commercial paper, which may be fixed, floating or variable and may vary inversely with respect to a reference rate and are issued or guaranteed by any sovereign government or their agencies, local authority, supranational or public
international bodies, banks, corporates or other
commercial issuers and contingent convertible securities (“CoCos”) hereinafter “Debt and Debt-Related Securities”.
The Sub-Fund may invest up to 10% of its Net Asset Value in CoCos. The CoCos in which the Sub-Fund may invest will not embed FDI and or leverage. Please see
“Contingent Convertible Securities (CoCos) Risk” in the
Prospectus for details of the risks associated with CoCos.
The Sub-Fund may also invest in currencies in order to
hedge the portfolio back to USD or to generate returns, as outlined in the section entitled “Investment Strategy” below.
The Sub-Fund will gain exposure to currencies using FDI
and may gain exposure to Debt and Debt-Related Securities using FDI as set out under the heading “Use of FDI” below.
FDI are used to take synthetic long or synthetic short positions. They can provide protection or profit from defaults and default expectations of debt issuers as well as being used to express views on the direction and volatility of Debt and Debt Related Securities and currencies.
Based on the analysis outlined in the section entitled “Investment Strategy” below, synthetic short positions may be held to:
- hedge long exposure, i.e. protect the level of loss the Sub-Fund may experience if a security or market to which it’s exposed falls in value;
- express a negative view on the direction of a market, asset class or individual issuer. For example, the Investment Manager may believe the value of a market, asset class or individual issuer may fall and the synthetic short position will mean the Sub-Fund will benefit from this movement. This may be achieved, for example, by selling government bond futures, buying credit default swaps or buying put options;and
- express views on the volatility of a market, asset class or individual issuer. For example, the Investment Manager may believe the level of volatility in a market, asset class or individual issuer may fall and the synthetic short position will mean the Sub- Fund will benefit from this movement. This may be achieved by selling options.

Whilst the extent of synthetic short exposures in the
Sub-Fund will vary over time, the Sub-Fund will generally look to maintain significant positive exposure to global credit markets.
The Sub-Fund may invest on a global basis and there is no geographical, industry or sector focus in relation to the securities (i.e. any of the abovementioned securities) to which exposure may be taken. However, there may be times when its portfolio is concentrated in bonds issued by issuers in a limited number of countries or regions.
This could be because the Sub-Fund’s benchmark has a concentrated position and the Sub-Fund’s performance is measured against the benchmark or because the
Investment Manager believes that a concentrated
position will be beneficial to the Sub-Fund. Though the Sub-Fund does not track the “Benchmark (as defined below)”, it limits how far it deviates from it.
The Sub-Fund may invest more than 20% in emerging markets debt securities, including Brady bonds, sovereign Eurobonds, corporate bonds, loans and sovereign loans, local treasury bills, notes and bonds, certificates of deposit, commercial paper, structured notes and money market securities. Exposure to emerging market debt may also be to debt securities of investment grade quality.
The minimum credit rating of the Debt and Debt-Related Securities in which the Sub-Fund may invest at time of purchase is B- (or its equivalent) or, in the case of asset- backed and mortgage-backed securities and structured notes rated at least BBB-, as rated by a Recognised Rating Agency. In case of three ratings, the lower rating of the two best ratings shall be decisive. In case of two such ratings, the lower rating shall be decisive. In case of only one such rating, this rating shall be decisive. If an instrument is unrated, it must be of equivalent quality as determined by the Investment Manager. Any securities which fall below the minimum required rating following acquisition will be sold within six months from the downgrading, unless the rating is upgraded within that period.
The Sub-Fund may invest up to 25% of its Net Asset Value in aggregate in sub-investment grade Debt and Debt-Related Securities (rated BB+ or lower (but B- or higher) (or equivalent)) as rated by a Recognised Rating Agency.
The Sub-Fund will not invest more than 10% of its Net Asset Value in securities issued and/or guaranteed by a single sovereign issuer with a credit rating below investment grade. For the avoidance of doubt, a single sovereign issuer shall include its government, a public or local authority.
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in transferable securities or money market instruments which are not admitted to or dealt in on an Eligible Market, in accordance with the UCITS Regulations, including, but not limited to unlisted equities and Debt and Debt-Related Securities.
The Sub-Fund may also invest in liquid, cash or near cash assets and up to 10% in collective investment
schemes (“CIS”) (including exchange traded funds (“ETFs”)
and money market funds) for liquidity (as outlined below)
or investment purposes where such CIS provide an exposure which is consistent with the investment policy of the Sub-Fund.
Whilst the Sub-Fund's base currency is U.S. Dollars, it may invest in non-U.S. Dollar denominated assets which may not necessarily be hedged back into U.S. Dollars.
The Sub-Fund may also invest up to 10% of its Net Asset Value in Debt and Debt-Related Securities in the People’s Republic of China (“PRC”) traded in the China interbank bond market (“CIBM”) via Bond Connect (as further described Appendix VI to the Prospectus.)

##### Loan Investments
The Sub-Fund may invest up to 10% of its Net Asset Value in unsecuritised loan participations and/or loan assignments provided such instruments constitute money market instruments normally dealt in the money market, are liquid and have a value that may be accurately determined at any time.

##### Cash and Collateral Management
For cash and collateral management purposes the Sub- Fund may, from time to time, invest in a broad range of liquid or near cash assets which can be held to provide liquidity and cover for exposures generated through FDI. Under exceptional circumstances (e.g. market crash or major crisis), the Sub-Fund may be invested temporarily up to 100% in liquid and near cash assets for cash flow management.
Liquid or near cash assets may include Debt and Debt- Related Securities, bank deposits and obligations issued or guaranteed by any sovereign government or their agencies and securities, instruments and obligations issued by supranational or public international bodies, banks, corporates or other commercial issuers. It is intended that issuers and/or guarantors of any such securities and instruments will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a Recognised Rating Agency, or will be deemed by the Investment Manager to be of equivalent quality.
The Sub-Fund may also invest in money market funds including Irish UCITS managed by Insight Investment Funds Management Limited and advised by the Investment Manager.

##### Collective Investment Schemes
The Sub-Fund may also pursue its investment objective and policy by taking positions in CIS, subject to a maximum of 10% of the Net Asset Value of the Sub- Fund.
Any investment in open-ended ETFs will be subject to the 10% limit above and any investment in closed-ended ETFs shall constitute an investment in a transferable security in accordance with the requirements of the Central Bank.
The minimum credit rating of the Debt and Debt-Related Securities that such collective investment schemes may invest at time of purchase is B- (or its equivalent), or, in the case of asset-backed securities, mortgage backed securities and other investments linked to credit risk, is BBB- (or its equivalent) as rated by a Recognised Rating Agency. In the case of a split rating, the lower of the two highest ratings will be considered.

##### Benchmark
Bloomberg Barclays Global Aggregate Credit TR Index (hedged to U.S. Dollars) (the “Benchmark”).
The Benchmark can be described as the credit component of the Barclays Global Aggregate Index which provides a broad-based measure of the global investment grade fixed income markets. The credit component excludes government bonds and securitised debt.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has discretion to invest outside the Benchmark subject to the investment objective and policy.
However, as the Benchmark covers a significant proportion of the investable universe, the majority of the
Sub-Fund’s holdings will be constituents of the
Benchmark but the weightings in the portfolio may be
similar to those of the Benchmark. The investment strategy will restrict the extent to which the portfolio holdings may deviate from the Benchmark and consequently the extent to which the Sub-Fund can outperform the Benchmark.

##### Investment Strategy
The investment strategy of the Sub-Fund is a combination of:
- understanding the current and future macroeconomic environment, for employment levels, inflation, interest rates, and what impact these factors may have on Debt and Debt Related Securities and currencies. This understanding is developed using a number of sources including economic data releases, central bank policy statements and a review of historical data;and
- analysing the different asset classes that make up the investments in the Sub-Fund, i.e. credit, emerging market debt, government bonds and currency to assess their return generating potential.

Once this analysis is complete the Investment Manager can decide the asset allocation of the Sub-Fund, i.e. what percentage of the assets to invest in the asset classes.
The Investment Manager may consider factors such as expense and ease of implantation when deciding how to implement the investment strategy and gain exposure to the asset classes, e.g. using FDI or CIS rather than buying assets directly.
Selecting the individual securities within each asset class is made with input from the credit teams who specialise in specific sectors or industries, e.g. telecoms, automobiles, technology, manufacturing and government bonds.

##### The Sustainable Finance Disclosure Regulation
When assessing the sustainability risk associated with underlying investments of the Sub-Fund, the Investment Manager is assessing the risk that the value of such
underlying investments could be materially negatively impacted by an ESG event or condition (“ESG Event”). Sustainability risks are managed by ensuring senior
decision makers are informed and included in the Investment Manager’s responsible investment programme, and set effective accountability,
transparency and implementation procedures. Where sustainability risk issues are considered material to investment outcomes, they are incorporated into due diligence processes. This may include evaluating individual securities and/or interaction with issuers or market participants. Internal controls ensure sustainability criteria are applied to The Sub-Fund continuously. ESG restrictions, which includes proprietary ESG ratings and third-party data, are set to prevent or permit investment in securities that meet sustainability- related characteristics. These controls are coded against the Sub-Fund and updated as new information is absorbed.
Corporate governance is a key sustainability risk factor forming part of proprietary ESG risk ratings for all issuers. The Investment Manager's corporate governance assessment includes evaluating board practices and behaviour, remuneration, control and accountability, and ethics or controversies. The Investment Manager applies the insights from ESG ratings alongside their own
knowledge of issuers’ governance structures to set
engagement priorities with issuers. The Investment
Manager considers these risks together to decide whether an investment reasonably compensates a fund for sustainability risks over the long and short-term. In terms of social and environmental factors, the
Investment Manager’s proprietary ESG ratings
methodology provides sector specific and issuer specific
information on key issues. This model helps the Investment Manager to identify key risks that a specific sector or issuer may be facing.
The Sub-Fund may underperform or perform differently relative to other comparable funds that do not integrate sustainability risks into their investment decisions and there is a risk that that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit CDX Emerging Markets Index Markit CDX North American High Yield Index Markit CDX North American Investment Grade Index Markit iTraxx Asia Index Markit iTraxx Europe Index Markit iTraxx Senior Financials Index Markit iTraxx Subordinated Financials Index Markit iTraxx Crossover Index |
| Interest rate indices to provide exposure to interest rate markets and to express the Investment Managers’ view that the yield curve will move in a particular direction in a more cost effective or efficient manner than buying physical securities. | EURIBOR LIBOR SOFR SONIA |
| Total Return Swap (TRS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying physical securities. | Markit iBoxx EUR Corporates Index Markit iBoxx EUR Liquid High Yield Index Markit iBoxx GBP Corporates Index Markit iBoxx USD Liquid IG Index Markit iBoxx USD Liquid HY Index Markit iBoxx USD Domestic Corporates Index Markit iBoxx USD Liquid Leveraged Loans Index |

The Manager has carefully evaluated the requirements of
the principal adverse impact consideration regime in Article 4 SFDR, (the “PAI regime”). The Manager is supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
| Futures | Bond Futures Interest Rate Futures Currency Futures |
| --- | --- |
| Options | Currency Options Options on Interest Rate Futures Bond Options Credit Default Swaptions |
| Forwards | Forward Foreign Exchange Contracts |
| Swaps | Credit Default Swaps (“CDS”) (single name and index) Interest Rate Swaps Inflation Swaps Cross Currency Swaps Asset Swaps Total Return Swaps (single name, credit, index, and basket (in the case of the latter, underlying components of which can be grouped by sector, geography or other characteristics)) |
| Securities with Embedded FDI/Leverage | Bonds with warrants attached Convertible Bonds |

The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub-Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. The remaining financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where additional information can be found, will be set out in the
Company’s semi-annual and annual accounts.

##### Long and Short Positions
The Sub-Fund may employ synthetic long and synthetic short exposures in each of the asset classes referenced in the Investment Policy to achieve its investment objective. The total net long exposure (after taking account of hedging) through FDI is not expected to exceed 200% of the Net Asset Value of the Sub-Fund and the total net short exposure is not expected to exceed 100% of the Net Asset Value of the Sub-Fund.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Relative VaR
Relative VaR Limit: Sub-Fund’s portfolio will not exceed twice the VaR on a representative benchmark portfolio (using a 20 Business Day holding period)
Relative VaR Benchmark: Bloomberg Barclays Global Aggregate Credit Index (hedged to U.S. Dollars)
Gross leverage is expected to vary between: 50 – 800% of the Net Asset Value. The gross leverage may exceed this target level at times
For more information on the Relative VaR approach and Gross Leverage, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in SFTs, i.e. securities lending arrangements and
repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 30% and in respect of SFTs shall be 100% of the Net Asset Value of the Sub-Fund. However, it is
not anticipated that the Sub-Fund’s exposure in respect
of TRS will exceed 20% and in respect of SFTs will
exceed 30% of the Net Asset Value of the Sub-Fund. The types of assets that will be subject to TRS and SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be issued during their respective Initial Offer Periods at their
respective initial offer price per Share of 1USD, 1£, 1€,
1CAD, 1AUD, 1CHF, 1SGD, 10HKD, 10CNH or 100¥
depending on the currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) share classes with the suffix “(Q)” dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30
September and paid on or before 11 February, 11 May, 11 August and 11 November respectively. In the case of all other income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of these income generating Shares, the declared dividends will normally be paid on or before 11 February. Further details are set
out under the heading “The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are set out under the sub-heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors’ attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Asia Rising Stars Fund

### SUPPLEMENT 32 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
This Sub-Fund was closed by way of compulsory redemption whereby all of the Shares in issue in the Sub- Fund as of 2 September, 2020, were compulsorily redeemed. Shares in the Sub-Fund are no longer available for investment. The Company intends to apply
to the Central Bank to revoke the Sub-Fund’s approval
following the preparation of the audited financial
statements for the year ended 31 December, 2020. The Company shall seek approval from the Central Bank to remove the Sub-Fund from this Prospectus following approval of that revocation.
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise financial derivative instruments (“FDI”) for hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- The Sub-Fund’s Net Asset Value may have a high level of volatility due to its investment policy.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
BNY Mellon Asset Management Japan Limited
The Investment Manager may delegate its investment management functions to a Sub-Investment Manager and/or appoint a sub-investment adviser to provide investment advice. As at the date of this Supplement, the Investment Manager intends to appoint the Sub- Investment Manager, as described below.

#### Sub-Investment Manager
The Investment Manager has delegated investment management functions in respect of the Asia ex Japan equities portion of the Sub-Fund to Maybank Asset
Management Singapore Pte Limited (the “Sub-Investment Manager”) or any successor appointed by the Investment Manager in accordance with the requirements of the
Central Bank.
The Sub-Investment Manager is part of Maybank Asset Management Group (“MAMG”), the asset management arm of Maybank. With over 30 years of experience, MAMG is a
pioneer in the Malaysian asset management industry. MAMG manages Asian focused portfolios ranging from equity, fixed income to money market instruments for corporations, institutions, pension funds, insurance and Takaful companies and individual clients through direct mandates, unit trusts and wholesale funds.
Details of the Sub-Investment Management Agreement between the Investment Manager and the Sub- Investment Manager are set out in Appendix A to this Supplement.

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin, Japan and Singapore.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| Euro A (Acc.) | EUR | up to 5% | EUR 5,000 | 1.60% | None |
| Euro A (Inc.) | EUR | up to 5% | EUR 5,000 | 1.60% | None |

| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| USD A (Acc.) | USD | up to 5% | USD 5,000 | 1.60% | None |
| USD A (Inc.) | USD | up to 5% | USD 5,000 | 1.60% | None |
| Sterling A (Acc.) | GBP | up to 5% | GBP 5,000 | 1.60% | None |
| Sterling A (Inc.) | GBP | up to 5% | GBP 5,000 | 1.60% | None |
| CHF A (Acc.) | CHF | up to 5% | CHF 5,000 | 1.60% | None |
| CHF A (Inc.) | CHF | up to 5% | CHF 5,000 | 1.60% | None |
| SGD A (Acc.) | SGD | up to 5% | SGD 5,000 | 1.60% | None |
| SGD A (Inc.) | SGD | up to 5% | SGD 5,000 | 1.60% | None |
| JPY A (Acc.) | JPY | up to 5% | JPY 500,000 | 1.60% | None |
| JPY A (Inc.) | JPY | up to 5% | JPY 500,000 | 1.60% | None |
| EUR H (Acc.) (hedged) | EUR | up to 5% | EUR 5,000 | 1.60% | None |
| EUR H (Inc.) (hedged) | EUR | up to 5% | EUR 5,000 | 1.60% | None |
| Sterling H (Acc.) (hedged) | GBP | up to 5% | GBP 5,000 | 1.60% | None |
| Sterling H (Inc.) (hedged) | GBP | up to 5% | GBP 5,000 | 1.60% | None |
| CHF H (Acc.) (hedged) | CHF | up to 5% | CHF 5,000 | 1.60% | None |
| CHF H (Inc.) (hedged) | CHF | up to 5% | CHF 5,000 | 1.60% | None |
| SGD H (Acc.) (hedged) | SGD | up to 5% | SGD 5,000 | 1.60% | None |
| SGD H (Inc.) (hedged) | SGD | up to 5% | SGD 5,000 | 1.60% | None |
| JPY H (Acc.) (hedged) | JPY | up to 5% | JPY 500,000 | 1.60% | None |
| JPY H (Inc.) (hedged) | JPY | up to 5% | JPY 500,000 | 1.60% | None |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| Euro W (Acc.) | EUR | up to 5% | EUR 15,000,000 | 0.80% | None |
| Euro W (Inc.) | EUR | up to 5% | EUR 15,000,000 | 0.80% | None |
| USD W (Acc.) | USD | up to 5% | USD 15,000,000 | 0.80% | None |
| USD W (Inc.) | USD | up to 5% | USD 15,000,000 | 0.80% | None |
| Sterling W (Acc.) | GBP | up to 5% | GBP 15,000,000 | 0.80% | None |
| Sterling W (Inc.) | GBP | up to 5% | GBP 15,000,000 | 0.80% | None |
| CHF W (Acc.) | CHF | up to 5% | CHF 15,000,000 | 0.80% | None |
| CHF W (Inc.) | CHF | up to 5% | CHF 15,000,000 | 0.80% | None |
| SGD W (Acc.) | SGD | up to 5% | SGD 15,000,000 | 0.80% | None |
| SGD W (Inc.) | SGD | up to 5% | SGD 15,000,000 | 0.80% | None |
| JPY W (Acc.) | JPY | up to 5% | JPY 1,500,000,000 | 0.80% | None |
| JPY W (Inc.) | JPY | up to 5% | JPY 1,500,000,000 | 0.80% | None |
| EUR W (Acc.) (hedged) | EUR | up to 5% | EUR 15,000,000 | 0.80% | None |
| EUR W (Inc.) (hedged) | EUR | up to 5% | EUR 15,000,000 | 0.80% | None |
| Sterling W (Acc.) (hedged) | GBP | up to 5% | GBP 15,000,000 | 0.80% | None |
| Sterling W (Inc.) (hedged) | GBP | up to 5% | GBP 15,000,000 | 0.80% | None |
| CHF W (Acc.) (hedged) | CHF | up to 5% | CHF 15,000,000 | 0.80% | None |
| CHF W (Inc.) (hedged) | CHF | up to 5% | CHF 15,000,000 | 0.80% | None |
| SGD W (Acc.) (hedged) | SGD | up to 5% | SGD 15,000,000 | 0.80% | None |
| SGD W (Inc.) (hedged) | SGD | up to 5% | SGD 15,000,000 | 0.80% | None |
| JPY W (Acc.) (hedged) | JPY | up to 5% | JPY 1,500,000,000 | 0.80% | None |
| JPY W (Inc.) (hedged) | JPY | up to 5% | JPY 1,500,000,000 | 0.80% | None |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| EUR X (Acc.) (hedged) | EUR | None | None | None | None |
| EUR X (Inc.) (hedged) | EUR | None | None | None | None |
| USD X (Acc.) | USD | None | None | None | None |
| USD X (Inc.) | USD | None | None | None | None |
| Sterling X (Acc.) (hedged) | GBP | None | None | None | None |
| Sterling X (Inc.) (hedged) | GBP | None | None | None | None |
| CHF X (Acc.) (hedged) | CHF | None | None | None | None |
| CHF X (Inc.) (hedged) | CHF | None | None | None | None |
| SGD X (Acc.) (hedged) | SGD | None | None | None | None |
| SGD X (Inc.) (hedged) | SGD | None | None | None | None |
| JPY X (Acc.) (hedged) | JPY | None | None | None | None |
| JPY X (Inc.) (hedged) | JPY | None | None | None | None |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to provide long-term capital growth through investment primarily in a portfolio of equity and equity-related securities (as described under the heading
“Investment Policy” below) of Asian small cap companies
which are listed on an Eligible Market.

##### Investment Policy
The Sub-Fund aims to achieve its investment objective by investing at least 70% of the Net Asset Value of the Sub- Fund directly or indirectly in equity and equity-related
securities (i.e. American depository receipts (“ADRs”) and Participatory Notes (“P-Notes”) (which include low exercise price options (“LEPO”) and low exercise price warrants (“LEPW”)), as described below) of Asian small
capitalisation companies (i.e. stocks which are below US
$ 5 billion at purchase in countries including but not limited to Hong Kong, China, India, Korea, Malaysia, Singapore, Indonesia, Thailand, Philippines, Taiwan, Vietnam, Sri Lanka and Bangladesh with a particular
focus on Japan as more particularly described under the heading “Investment Strategy” below) listed on Eligible Markets. The Sub-Fund may also invest in ADRs which
are listed or traded on an Eligible Market in the U.S. for the efficient access to stocks in the aforementioned Asian markets.
The Sub-Fund may also invest in and have direct access to China A-shares listed on the Shanghai Stock Exchange
via the Shanghai-Hong Kong Stock Connect scheme (as further described in “Stock Connect” Appendix V to the Prospectus). Exposure to China A-shares through the
Shanghai-Hong Kong Stock Connect scheme will not be more than 10% of the Sub-Fund’s Net Asset Value.
The Sub-Fund may invest more than 20% its Net Asset Value in emerging market countries.
The Sub-Fund will use FDI for efficient portfolio
management and share class hedging purposes, as more particularly described under the headings “Efficient Portfolio Management” and “Share Class Hedging” below. Such FDI are limited to P-Notes, forward foreign
exchange contracts and non-deliverable forward contracts. The Sub-Fund will not invest more than 10% of
its Net Asset Value in aggregate in open-ended collective investment schemes (“CIS”) including money market funds. Investment in open-ended CIS may be used for
cash management purposes or to give exposure to the equity securities listed in the investment policy above.
The Sub-Fund may invest up to 10% of its Net Asset Value in recently issued transferable securities (i.e. equities) not listed or traded on Eligible Markets within a year.
The Sub-Fund does not intend to take short positions.

##### Benchmark
MSCI AC Asia Small Cap NR Index (the “Benchmark”).
The Benchmark captures small cap representation across developed markets countries and emerging markets countries in Asia. With 2,391 constituents, the Benchmark covers approximately 14% of the free float- adjusted market capitalization in each country.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest
outside the Benchmark subject to the investment objective and policy. While the Sub-Fund’s holdings may include constituents of the Benchmark, the selection of
investments and their weightings in the portfolio are not influenced by the Benchmark. The investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.

##### Investment Strategy
The investment strategy of the Sub-Fund is to invest in Asian small cap companies listed on Eligible Markets in Asian Countries using an active stock selection process.
The Investment Manager will manage 50% of the portfolio of the Sub-Fund, and will primarily focus on Japan small cap equities, as described in further detail below. The Investment Manager shall allocate the management of the remaining 50% of the Sub-Fund (i.e. the Asia ex Japan equities portion of the portfolio) to the Sub- Investment Manager.
The Investment Manager will focus on equity and equity- related securities (as described under the heading
“Investment Policy” above) of Japan small capitalisation
companies which are below 500 billion yen at purchase. The Investment Manager’s strategy is to invest in a portfolio of Japanese small cap equities based on
fundamental research on medium to long-term earnings outlook, with an emphasis on individual company analysis. This investment process focuses on identifying companies appropriate to the investment policy of the Sub-Fund (as described below) and aims to generate
alpha (i.e. excess returns), primarily through this stock selection process. The Investment Manager’s strategy is to invest in companies with strong growth prospects at a
reasonable price which the Investment Manager believes have the ability to deliver longer term earnings above
market expectation (as described below). The Investment Manager evaluates the relevant company’s earnings generally over 3 years to evaluate its growth prospects,
valuation and the ability to deliver longer term earnings above market expectation. The majority of the holdings in
the portion of the Sub-Fund’s portfolio managed by the
Investment Manager will have a market capitalization of 500 billion yen or less. This portion of the Sub-Fund’s portfolio will normally hold less than 40 stocks. The
Investment Manager does not intend to make active country or regional allocations, and will regularly rebalance the combined portfolio back to a neutral position (i.e. the 50% Japan equity investment and 50% ex-Japan equity investment) on a regular basis.
The Sub-Investment Manager identifies stocks based on their relevance to the investment policy, as set out above and selects such stocks on a bottom up basis. Stock selection using a bottom up basis involves considering the fundamentals of a company from numerous perspectives including its financial statements and quality of management (i.e. the stability of the management team of the relevant company and their ability to deliver the earnings growth expected by the market), using detailed fundamental research. Depending on the relevant company, such detailed fundamental research typically includes interviewing the relevant management teams of such companies and/or market research and/or studying the business model of the relevant company in order to determine key stock price drivers (which includes valuation and estimated earnings of the relevant company).
The two portfolios together will form the combined portfolio of the Sub-Fund (i.e. the combined portions of the portfolio managed by the Investment Manager and the Sub-Investment Manager respectively). The Investment Manager monitors compliance of the relevant investment restrictions applicable to the Sub-Fund.

#### Issue of Shares
The initial offering (the “Initial Offer Period”) for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall
continue until 28 February, 2020 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in each available unlaunched share classes will be issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1£,
1€, 1CHF, 1SGD or 100¥ depending on the currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Repurchase of Shares
Shares in each class may be repurchased, at the option of the relevant Shareholder, on any Valuation Day at the Valuation Point. The Repurchase Price is the Net Asset Value per Share of that class calculated as at the Valuation Point less the applicable redemption fee.
All requests for the repurchase of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Investment and Borrowing Restrictions
The Sub-Fund’s investment and borrowing restrictions are set out under the heading “The Company – Investment and Borrowing Restrictions” in the Prospectus.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 100% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise stocklending arrangements and repurchase/reverse repurchase agreements for efficient portfolio management (EPM) purposes, subject to the conditions and limits set out in
the Central Bank UCITS Regulations. Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of
techniques and FDI the Sub-Fund may use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may engage in securities financing transactions (“SFTs”), i.e. stocklending arrangements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of
SFTs shall be 100% of the Net Asset Value of the Sub- Fund. However, it is not anticipated that the Sub-Fund’s
exposure to the SFTs will exceed 15% of the Net Asset Value. The types of assets that will be subject to the stocklending arrangements will be assets which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Stocklending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Share Class Hedging
This Sub-Fund offers hedged share classes. Such share classes are indicated by the suffix “(hedged)” Please see the section entitled “Share Class Hedging” in the Prospectus for further information on the operation and
impact of hedged share classes.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February. Further details
are set out under the heading “The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are set out under the sub-heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management fee payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors’ attention is drawn to the section entitled “Risk Factors” in the Prospectus.
Investors should also be aware that investment in the People’s Republic of China and, the Shanghai-Hong Kong Stock Connect Scheme, the Shanghai-Hong Kong Stock
Connect Scheme and small capitalisation companies carries a significant degree of risk. Such risks are detailed in the Prospectus.

#### APPENDIX A
- Sub-Investment Management Agreement – Maybank Asset Management Singapore.
	- Pursuant to a Sub-Investment Management Agreement between the Investment Manager and the Sub-Investment Manager dated 5 September, 2016, as amended, the Sub-Investment Manager will manage the assets of the Sub-Fund allocated to it by the Investment Manager from time to time on a discretionary basis subject to the overall control and supervision of the Investment Manager.
	- The Sub-Investment Management Agreement provides for the payment by the Investment Manager, of the fees and expenses of the Sub- Investment Manager.



## BNY Mellon U.S. Equity Income Fund

### SUPPLEMENT 33 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. The use of FDI for investment purposes will not be extensive. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- It is proposed to charge management fees and other fees and expenses of the Sub-Fund to the capital of the Sub-Fund to seek to maximise distributions. See “Fees and Expenses” in the Prospectus for further details.
- The Sub-Fund’s Net Asset Value may have a high level of volatility due to its investment policy.


#### The Investment Manager
Newton Investment Management North America LLC

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| EUR A (Acc.) | EUR | 5,000 | 5% | 2.00% | 0% |
| EUR A (Inc.) | EUR | 5,000 | 5% | 2.00% | 0% |
| USD A (Acc.) | USD | 5,000 | 5% | 2.00% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 2.00% | 0% |
| Sterling A (Acc.) | GBP | 5,000 | 5% | 2.00% | 0% |
| Sterling A (Inc.) | GBP | 5,000 | 5% | 2.00% | 0% |
| CHF A (Acc.) | CHF | 5,000 | 5% | 2.00% | 0% |
| CHF A (Inc.) | CHF | 5,000 | 5% | 2.00% | 0% |
| EUR H (Acc.) (hedged) | EUR | 5,000 | 5% | 2.00% | 0% |
| EUR H (Inc.) (hedged) | EUR | 5,000 | 5% | 2.00% | 0% |
| Sterling H (Acc.) (hedged) | GBP | 5,000 | 5% | 2.00% | 0% |
| Sterling H (Inc.) (hedged) | GBP | 5,000 | 5% | 2.00% | 0% |
| CHF H (Acc.) (hedged) | CHF | 5,000 | 5% | 2.00% | 0% |
| CHF H (Inc.) (hedged) | CHF | 5,000 | 5% | 2.00% | 0% |

| “B” Shares and “J (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD B (Acc.) | USD | 10,000 | 5% | 1.50% | 0% |
| USD B (Inc.) | USD | 10,000 | 5% | 1.50% | 0% |
| EUR B (Acc.) | EUR | 10,000 | 5% | 1.50% | 0% |
| EUR B (Inc.) | EUR | 10,000 | 5% | 1.50% | 0% |
| SGD B (Acc.) | SGD | 10,000 | 5% | 1.50% | 0% |
| SGD B (Inc.) | SGD | 10,000 | 5% | 1.50% | 0% |
| AUD B (Acc.) | AUD | 10,000 | 5% | 1.50% | 0% |
| AUD B (Inc.) | AUD | 10,000 | 5% | 1.50% | 0% |
| CAD B (Acc.) | CAD | 10,000 | 5% | 1.50% | 0% |
| CAD B (Inc.) | CAD | 10,000 | 5% | 1.50% | 0% |
| HKD B (Acc.) | HKD | 100,000 | 5% | 1.50% | 0% |
| HKD B (Inc.) | HKD | 100,000 | 5% | 1.50% | 0% |
| CNH B (Acc.) | CNH | 100,000 | 5% | 1.50% | 0% |
| CNH B (Inc.) | CNH | 100,000 | 5% | 1.50% | 0% |
| EUR J (Acc.) (hedged) | EUR | 10,000 | 5% | 1.50% | 0% |
| SGD J (Acc.) (hedged) | SGD | 10,000 | 5% | 1.50% | 0% |
| SGD J (Inc.) (hedged) | SGD | 10,000 | 5% | 1.50% | 0% |
| AUD J (Acc.) (hedged) | AUD | 10,000 | 5% | 1.50% | 0% |
| AUD J (Inc.) (hedged) | AUD | 10,000 | 5% | 1.50% | 0% |
| CAD J (Acc.) (hedged) | CAD | 10,000 | 5% | 1.50% | 0% |
| CAD J (Inc.) (hedged) | CAD | 10,000 | 5% | 1.50% | 0% |
| CNH J (Acc.) (hedged) | CNH | 100,000 | 5% | 1.50% | 0% |
| CNH J (Inc.) (hedged) | CNH | 100,000 | 5% | 1.50% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 1.00% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 1.00% | 0% |
| EUR G (Acc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| EUR G (Inc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Acc.) | GBP | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Inc.) | GBP | 5,000 | 5% | 1.00% | 0% |
| EUR G (Acc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| EUR G (Inc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Acc.) (hedged) | GBP | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Inc.) (hedged) | GBP | 5,000 | 5% | 1.00% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| EUR C (Acc.) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| EUR C (Inc.) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| USD C (Acc.) | USD | 5,000,000 | 5% | 1.00% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Acc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| Sterling C (Inc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| CHF C (Acc.) | CHF | 5,000,000 | 5% | 1.00% | 0% |
| CHF C (Inc.) | CHF | 5,000,000 | 5% | 1.00% | 0% |
| EUR I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| EUR I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Sterling I (Acc.) (hedged) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Sterling I (Inc.) (hedged) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| CHF I (Acc.) (hedged) | CHF | 5,000,000 | 5% | 1.00% | 0% |
| CHF I (Inc.) (hedged) | CHF | 5,000,000 | 5% | 1.00% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| EUR W (Acc.) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| EUR W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| EUR W (Inc.) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| EUR W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.75% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Acc.) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Inc.) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Inc.) (hedged) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| AUD W (Inc.) (hedged) | AUD | 15,000,000 | 5% | 0.75% | 0% |
| CAD W (Inc.) (hedged) | CAD | 15,000,000 | 5% | 0.75% | 0% |
| HKD W (Inc.) | HKD | 150,000,000 | 5% | 0.75% | 0% |
| CNH W (Inc.) (hedged) | CNH | 150,000,000 | 5% | 0.75% | 0% |
| SGD W (Inc.) (hedged) | SGD | 15,000,000 | 5% | 0.75% | 0% |

| “E” Shares and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| EUR E (Acc.) | EUR | As agreed | 5% | 0.45% | 0% |
| EUR E (Acc.) (hedged) | EUR | As agreed | 5% | 0.45% | 0% |
| EUR E (Inc.) | EUR | As agreed | 5% | 0.45% | 0% |
| EUR E (Inc.) (hedged) | EUR | As agreed | 5% | 0.45% | 0% |
| USD E (Acc.) | USD | As agreed | 5% | 0.45% | 0% |
| USD E (Inc.) | USD | As agreed | 5% | 0.45% | 0% |
| Sterling E (Acc.) | GBP | As agreed | 5% | 0.45% | 0% |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.45% | 0% |
| Sterling E (Inc.) | GBP | As agreed | 5% | 0.45% | 0% |
| Sterling E (Inc.) (hedged) | GBP | As agreed | 5% | 0.45% | 0% |
| CHF E (Acc.) | CHF | As agreed | 5% | 0.45% | 0% |
| CHF E (Acc.) (hedged) | CHF | As agreed | 5% | 0.45% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| CHF E (Inc.) | CHF | As agreed | 5% | 0.45% | 0% |
| CHF E (Inc.) (hedged) | CHF | As agreed | 5% | 0.45% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| EUR X (Acc.) | EUR | None | 0% | 0% | 0% |
| EUR X (Acc.) (hedged) | EUR | None | 0% | 0% | 0% |
| EUR X (Inc.) | EUR | None | 0% | 0% | 0% |
| EUR X (Inc.) (hedged) | EUR | None | 0% | 0% | 0% |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| Sterling X (Acc.) | GBP | None | 0% | 0% | 0% |
| Sterling X (Acc.) (hedged) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) (hedged) | GBP | None | 0% | 0% | 0% |
| CHF X (Acc.) | CHF | None | 0% | 0% | 0% |
| CHF X (Acc.) (hedged) | CHF | None | 0% | 0% | 0% |
| CHF X (Inc.) | CHF | None | 0% | 0% | 0% |
| CHF X (Inc.) (hedged) | CHF | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to maximise total returns from income and capital growth.

##### Investment Policy
The Sub-Fund invests primarily (meaning at least two- thirds of the Sub-Fund's Net Asset Value) in equity and equity-related securities (common and preferred stock, American depositary receipts and global depository
receipts (collectively “Depositary Receipts”), listed real estate investment trusts (“REITs”) and master limited partnerships (“MLPs”)), issued by “large-capitalisation companies” located in the U.S. The term “large- capitalisation companies” shall be taken to include
securities of companies which, at the time of purchase,
have a market capitalisation of US$2 billion or above.
Investments in REITs will not exceed 5% of the Sub- Fund’s Net Asset Value. Investments in MLPs will not exceed 5% of the Sub-Fund’s Net Asset Value.
The Sub-Fund may invest up to one-third of its Net Asset Value in equity or equity-related securities of companies (which will be listed or traded on Eligible Markets) located in the U.S. of any size or in equity or equity- related securities of companies which neither have their registered office in the U.S. nor carry out a preponderant part of their economic activities in the U.S.
The Sub-Fund will not invest in emerging market regions.
The Investment Manager of the Sub-Fund monitors the investments of the Sub-Fund including the market capitalisation of securities in the Sub-Fund as part of its
investment management of the Sub-Fund. The Investment Manager does not automatically sell a security if the market capitalisation of such security falls below US$2 billion after purchase but considers additional factors, such as the investment strategy and investment policy of the Sub-Fund, when making such decisions.
The Sub-Fund may also invest up to 10% of its Net Asset
Value in aggregate in open-ended collective investment schemes (“CIS”), including open-ended in exchange traded funds (“ETFs”), in order to provide exposure to equity markets. Investment in CIS may also be used for
cash management purposes (e.g. via money market funds) or to give exposure to the equity and equity- related securities listed above. The Sub-Fund may hold ancillary liquid assets such as bank deposits.
The Sub-Fund does not invest in closed-ended ETFs.
The Sub-Fund may also gain exposure to equity and equity-related securities using FDI, subject to a 5% limit of Net Asset Value of the Sub-Fund in the case of
warrants as set out below under the heading “Use of FDI”.
The Sub-Fund does not intend to take short positions.
The Sub-Fund’s investments shall be listed or traded on Eligible Markets. A list of the Eligible Markets is set out in Appendix II of the Prospectus.

##### Benchmark
S&P 500 NR Index (the “Benchmark”).
The Benchmark is widely regarded as the best single gauge of large cap U.S. equities. There is over USD 9.9 trillion indexed or benchmarked to the index, with indexed assets comprising approximately USD 3.4 trillion
of this total. The index includes 500 leading companies and covers approximately 80% of available market capitalization.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest outside the Benchmark subject to the investment objective and policy. However, as the Benchmark covers a significant proportion of the investable universe, the
majority of the Sub-Fund’s holdings will be constituents
of the Benchmark but the weightings in the portfolio are
not influenced by those of the Benchmark. The investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.

##### Investment Strategy
The Investment Manager believes successful investing is achieved through a philosophy that is value-oriented, research-driven and risk-controlled, as explained below.
Value-Oriented
- Focus on equity securities with attractive valuations (identifying stocks that the Investment Manager believes to be worth more than what the security is currently priced in the market) relative to the market, sector and stock history.
- Avoid buying securities which continue to decline in price by combining traditional valuation measures (such as price to equity ratio, price to book ratio, and price to cash flow ratio) with focus on companies that exhibit business improvement and strong fundamentals.

Research-Driven
- Believe fundamental analysis is the best way to ascertain management of the relevant company’s ability and willingness to sustain and ideally growdividends.

Risk-Controlled
- Employ risk controls at all levels of the portfolio- construction process of the Sub-Fund to minimise unintended risks.
- Set up/down price targets (i.e. best case/worst case price levels by which to compare the current and future price movements) ahead of establishing new positions.

In order to achieve the investment policy of the Sub- Fund, the Investment Manager focuses on a three step process.

##### Step 1: Universe Screening
The goal of this step is to review all potential U.S. equity securities with consideration given to dividend sustainability and growth potential, valuation (identifying stocks that the Investment Manager believes to be worth more than what the security is currently priced in the market) and fundamentals (basic qualities and reported information needed to analyse the health and stability of a business) of the relevant security. The Investment Manager also uses quantitative screens (measurements of valuation, earnings momentum, and other quantitative factors of a stock compared to others) during this step.
Either method, fundamental or quantitative, can identify a security for potential consideration. Ultimately, this step focuses their deeper fundamental research effort in Step 2.

##### Step 2: Fundamental Research
Once a working list of securities has been identified, the relevant portfolio manager of the Investment Manager conducts fundamental research together with a dedicated research team of the Investment Manager but there is no one-size-fits-all approach to the work.
Fundamental research includes conversations with management of a company, building financial models (to help accurately forecast the price or future earnings performance of a company) and reviewing regulatory filings (documents filed by the company with the relevant regulator per statutory requirements). The assigned analyst then makes a buy/pass recommendation supported by up/down price targets (expectation on the future price of a security), investment thesis factors of the aforementioned process (i.e. valuation, fundamentals, business improvement, dividend outlook) and potential risks.

##### Step 3: Portfolio Construction
The Investment Manager makes the final determination as to whether a security is added to the Sub-Fund’s portfolio and what the specific security weightings need
to be. Importantly during this final step, decisions are
made in the context of the overall risk profile of the Sub- Fund’s portfolio.

##### The Sustainable Finance Disclosure Regulation
The management of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively impacted by
an ESG event or condition (“ESG Event”).
The Investment Manager applies fundamental analysis supported by quantitative data resources to assess the environmental, social and governance factors of each portfolio investment for potential sustainability risks.
These factors may include but are not limited to, an issuer’s impact on the environment, including emissions, land use and waste practices, and an issuer’s social policies and practices, including employee matters,
supply chain practices and human rights policies. The Investment Manager identifies and incorporates into its
investment decision making process those considerations that will influence an issuer’s behaviour or impact the economic, regulatory, political, social or physical
environments in which it operates. The Investment Manager leverages the fundamental analysis along with quantitative data to derive a proprietary ESG score to
further enhance the management of sustainability factors within the Sub-Fund. The Investment Manager’s proprietary research is supplemented with third-party
resources including MSCI ESG data and ratings, Bloomberg ESG data, Sustainability Accounting
Standards Board’s (SASB) Engagement Guide, sell-side
research and industry events. The result is an investment
decision making process that seeks to minimise the Sub- Fund’s exposure to laggards on environment, social and
governance criteria, while also taking into account any remaining sustainability risks associated with the investments of the Sub-Fund.
The Investment Manager also assesses the governance practices of issuers through its fundamental research, supplemented by proprietary and third-party governance scoring methodologies, in order to satisfy itself that the relevant issuers follow good governance practices, in particular with respect to sound management structures, employee relations, remuneration of staff and tax compliance.
The Investment Manager monitors sustainability factors and risk exposures on a regular basis by reviewing
regular reporting on both the Investment Manager’s
proprietary and third-party ESG scores.
As explained above, the management and assessment of sustainability risks forms an important part of the Investment Manager's due diligence, however there may still be a risk that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Options | Call Options |
| --- | --- |
| Securities with Embedded FDI/Leverage | Warrants Stock Purchase Rights |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub-Fund utilises the following
financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Equity indices to provide exposure to regional and global equity markets in a more cost effective or efficient manner than buying the physical securities. | S&P 500 NR Index |

These financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where
additional information can be found, will be set out in the Company’s semi-annual and annual accounts.

#### Registration in Germany
This Sub-Fund is registered for sale in Germany. The Sub- Fund is classified as an Equity Fund for German tax purposes and as such it will permanently invest more than 50% of its assets in equities as defined in article 2 paragraph 8 of the German Investment Tax Act.

#### Registration in Hong Kong
This Sub-Fund is registered for sale in Hong Kong.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 50% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. securities lending arrangements and repurchase/reverse repurchase
agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of
SFTs shall be 100% of the Net Asset Value of the Sub- Fund. However, it is not anticipated that the Sub-Fund’s exposure to the SFTs will exceed 15% of the Net Asset
Value. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be issued during their respective Initial Offer Periods at their
respective initial offer price per Share of 1USD, 1£, 1€,
1CAD, 1AUD, 1CHF, 1SGD, 10HKD or 10CNH depending on
the currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11 November respectively. Further details are set out under
the heading "The Company - Distribution Policy” in the
Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Global Short-Dated High Yield Bond Fund

### SUPPLEMENT 34 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. The use of FDI for investment purposes will not be extensive. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be suitable for all investors.
- The Sub-Fund may, in exceptional circumstances, invest substantially in deposits with credit institutions. Although the Sub-Fund may invest in money market instruments and cash deposits, Shares in the Sub-Fund are not deposits and are different in nature to a deposit in that the investment is not guaranteed and the value of the investment is capable of fluctuation. Investment in the Sub-Fund involves certain investment risks, including the possible loss of principal.


#### The Investment Manager
Insight Investment Management (Global) Limited
The Investment Manager may delegate its investment management functions to a Sub-Investment Manager and/or appoint a sub-investment adviser to provide investment advice in accordance with the requirements of the Central Bank. As at the date of this Supplement, the Investment Manager has appointed the Sub- Investment Manager, as described below.

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its
investment management functions with respect to this Sub-Fund to Insight North America LLC (the “Sub- Investment Manager”). Details of the Sub-Investment
Management Agreement between the Investment
Manager and the Sub-Investment Manager are set out under the heading “Sub-Investment Managers” in the Prospectus.

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for
whom each class of Shares is intended is set out under the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| USD A (Acc.) | USD | 5,000 | 5% | 1.25% | 0% | SOFR (90-day compounded) |
| USD A (Inc.) | USD | 5,000 | 5% | 1.25% | 0% | SOFR (90-day compounded) |
| EUR H (Acc.) (hedged) | EUR | 5,000 | 5% | 1.25% | 0% | 3 Month EURIBOR |
| EUR H (Inc.) (hedged) | EUR | 5,000 | 5% | 1.25% | 0% | 3 Month EURIBOR |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| --- | --- | --- | --- | --- | --- | --- |
| Sterling H (Acc.) (hedged) | GBP | 5,000 | 5% | 1.25% | 0% | SONIA (90-day compounded) |
| Sterling H (Inc.) (hedged) | GBP | 5,000 | 5% | 1.25% | 0% | SONIA (90-day compounded) |
| CHF H (Acc.) (hedged) | CHF | 5,000 | 5% | 1.25% | 0% | SARON (90-day compounded) |
| CHF H (Inc.) (hedged) | CHF | 5,000 | 5% | 1.25% | 0% | SARON (90-day compounded) |
| JPY H (Acc.) (hedged) | JPY | 500,000 | 5% | 1.25% | 0% | TONAR (90-day compounded) |
| JPY H (Inc.) (hedged) | JPY | 500,000 | 5% | 1.25% | 0% | TONAR (90-day compounded) |
| AUD H (Acc.) (hedged) | AUD | 5,000 | 5% | 1.25% | 0% | BofA Merrill Lynch AUD LIBOR 3 M Cons Maturity TR |
| AUD H (Inc.) (hedged) (M) | AUD | 5,000 | 5% | 1.25% | 0% | BofA Merrill Lynch AUD LIBOR 3 M Cons Maturity TR |
| CAD H (Acc.) (hedged) | CAD | 5,000 | 5% | 1.25% | 0% | BofA Merrill Lynch CAD LIBOR 3 M Cons Maturity TR |
| CAD H (Inc.) (hedged) (M) | CAD | 5,000 | 5% | 1.25% | 0% | BofA Merrill Lynch CAD LIBOR 3 M Cons Maturity TR |
| CNH H (Acc.) (hedged) | CNH | 50,000 | 5% | 1.25% | 0% | 3 Month CNH HIBOR |
| CNH H (Inc.) (hedged) (M) | CNH | 50,000 | 5% | 1.25% | 0% | 3 Month CNH HIBOR |
| SGD H (Acc.) (hedged) | SGD | 5,000 | 5% | 1.25% | 0% | 3 Month SGD SIBOR |
| SGD H (Inc.) (hedged) (M) | SGD | 5,000 | 5% | 1.25% | 0% | 3 Month SGD SIBOR |
| DKK H (Acc.) (hedged) | DKK | 50,000 | 5% | 1.25% | 0% | 3 Month DKK LIBOR |
| NOK H (Acc.) (hedged) | NOK | 50,000 | 5% | 1.25% | 0% | 3 Month NOK LIBOR |
| SEK H (Acc.) (hedged) | SEK | 50,000 | 5% | 1.25% | 0% | 3 Month SEK LIBOR |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| USD G (Acc.) | USD | 5,000 | 5% | 0.75% | 0% | SOFR (90-day compounded) |
| USD G (Inc.) | USD | 5,000 | 5% | 0.75% | 0% | SOFR (90-day compounded) |
| Euro G (Acc.) (hedged) | EUR | 5,000 | 5% | 0.75% | 0% | 3 Month EURIBOR |
| Euro G (Inc.) (hedged) | EUR | 5,000 | 5% | 0.75% | 0% | 3 Month EURIBOR |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| USD C (Acc.) | USD | 5,000,000 | 5% | 0.75% | 0% | SOFR (90-day compounded) |
| USD C (Inc.) | USD | 5,000,000 | 5% | 0.75% | 0% | SOFR (90-day compounded) |
| EUR I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 0.75% | 0% | 3 Month EURIBOR |
| EUR I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 0.75% | 0% | 3 Month EURIBOR |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| --- | --- | --- | --- | --- | --- | --- |
| Sterling I (Acc.) (hedged) | GBP | 5,000,000 | 5% | 0.75% | 0% | SONIA (90-day compounded) |
| Sterling I (Inc.) (hedged) | GBP | 5,000,000 | 5% | 0.75% | 0% | SONIA (90-day compounded) |
| CHF I (Acc.) (hedged) | CHF | 5,000,000 | 5% | 0.75% | 0% | SARON (90-day compounded) |
| CHF I (Inc.) (hedged) | CHF | 5,000,000 | 5% | 0.75% | 0% | SARON (90-day compounded) |
| JPY I (Acc.) (hedged) | JPY | 500,000,000 | 5% | 0.75% | 0% | TONAR (90-day compounded) |
| JPY I (Inc.) (hedged) | JPY | 500,000,000 | 5% | 0.75% | 0% | TONAR (90-day compounded) |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.50% | 0% | SOFR (90-day compounded) |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.50% | 0% | SOFR (90-day compounded) |
| EUR W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.50% | 0% | 3 Month EURIBOR |
| EUR W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.50% | 0% | 3 Month EURIBOR |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.50% | 0% | SONIA (90-day compounded) |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.50% | 0% | SONIA (90-day compounded) |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.50% | 0% | SARON (90-day compounded) |
| CHF W (Inc.) (hedged) | CHF | 15,000,000 | 5% | 0.50% | 0% | SARON (90-day compounded) |
| JPY W (Acc.) (hedged) | JPY | 1,500,000,000 | 5% | 0.50% | 0% | TONAR (90-day compounded) |
| JPY W (Inc.) (hedged) | JPY | 1,500,000,000 | 5% | 0.50% | 0% | TONAR (90-day compounded) |
| AUD W (Inc.) (hedged) (M) | AUD | 15,000,000 | 5% | 0.50% | 0% | BofA Merrill Lynch AUD LIBOR 3 M Cons Maturity TR |
| CAD W (Inc.) (hedged) (M) | CAD | 15,000,000 | 5% | 0.50% | 0% | BofA Merrill Lynch CAD LIBOR 3 M Cons Maturity TR |
| HKD W (Inc.) (hedged) (M) | HKD | 150,000,000 | 5% | 0.50% | 0% | 3 Month HKD HIBOR |
| CNH W (Inc.) (hedged) (M) | CNH | 150,000,000 | 5% | 0.50% | 0% | 3 Month CNH HIBOR |
| SGD W (Inc.) (hedged) (M) | SGD | 15,000,000 | 5% | 0.50% | 0% | 3 Month SGD SIBOR |
| DKK W (Acc.) (hedged) | DKK | 150,000,000 | 5% | 0.50% | 0% | 3 Month DKK LIBOR |
| NOK W (Acc.) (hedged) | NOK | 150,000,000 | 5% | 0.50% | 0% | 3 Month NOK LIBOR |
| SEK W (Acc.) (hedged) | SEK | 150,000,000 | 5% | 0.50% | 0% | 3 Month SEK LIBOR |

| “Z” Shares and “Z (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| Sterling Z (Acc.) (hedged) | GBP | 200,000,000 | 5% | 0.40% | 0% | SONIA (90-day compounded) |
| Sterling Z (Inc.) (hedged) | GBP | 200,000,000 | 5% | 0.40% | 0% | SONIA (90-day compounded) |
| USD Z (Acc.) | USD | 200,000,000 | 5% | 0.40% | 0% | SOFR (90-day compounded) |
| USD Z (Inc.) | USD | 200,000,000 | 5% | 0.40% | 0% | SOFR (90-day compounded) |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| EUR X (Acc.) (hedged) | EUR | None | 0% | 0% | 0% | 3 Month EURIBOR |
| EUR X (Inc.) (hedged) | EUR | None | 0% | 0% | 0% | 3 Month EURIBOR |
| JPY X (Acc.) | JPY | None | 0% | 0% | 0% | TONAR (90-day compounded) |
| JPY X (Inc.) (M) | JPY | None | 0% | 0% | 0% | TONAR (90-day compounded) |
| JPY X (Acc.) (hedged) | JPY | None | 0% | 0% | 0% | TONAR (90-day compounded) |
| JPY X (Inc.) (hedged) | JPY | None | 0% | 0% | 0% | TONAR (90-day compounded) |
| JPY X (Inc.) (hedged) (M) | JPY | None | 0% | 0% | 0% | TONAR (90-day compounded) |
| USD X (Acc.) | USD | None | 0% | 0% | 0% | SOFR (90-day compounded) |
| USD X (Inc.) | USD | None | 0% | 0% | 0% | SOFR (90-day compounded) |
| Sterling X (Acc.) (hedged) | GBP | None | 0% | 0% | 0% | SONIA (90-day compounded) |
| Sterling X (Inc.) (hedged) | GBP | None | 0% | 0% | 0% | SONIA (90-day compounded) |
| CHF X (Acc.) (hedged) | CHF | None | 0% | 0% | 0% | SARON (90-day compounded) |
| CHF X (Inc.) (hedged) | CHF | None | 0% | 0% | 0% | SARON (90-day compounded) |
| CAD X (Acc.) (hedged) | CAD | None | 0% | 0% | 0% | BofA Merrill Lynch CAD LIBOR 3 M Cons Maturity TR |
| CAD X (Inc.) (hedged) | CAD | None | 0% | 0% | 0% | BofA Merrill Lynch CAD LIBOR 3 M Cons Maturity TR |

| “Y” Shares and “Y (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| USD Y (Acc.) * | USD | None | 5% | 0% | 0% | SOFR (90-day compounded) |
| Sterling Y (Acc.) (hedged) * | GBP | None | 5% | 0% | 0% | SONIA (90-day compounded) |

*	share class is closed to new investors.

#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to deliver positive returns greater than the Cash Benchmark on a 3 year rolling basis.

##### Investment Policy
The Sub-Fund aims to achieve its investment objective by investing the majority of its Net Asset Value, meaning over 50%, in a portfolio of high yielding bonds (i.e. bonds that are considered by the Investment Manager to be under-valued) that generally mature or are expected to mature within 3 years.
The remaining assets may be invested in a broad range of cash, liquid or near cash assets (as described under the
heading “Cash and Collateral Management” below). In
periods of market uncertainty however, the Sub-Fund
may reduce its allocation in high yielding bonds and invest a majority of its assets in cash, liquid or near cash assets in order to protect the value of the Sub-Fund.
The Sub-Fund may invest in debt and debt-related securities (obligations, treasury bills, debentures, bonds, loans, asset-backed and mortgage-backed securities, certificates of deposit, floating rate notes, short and medium term obligations and commercial paper, which may be fixed, floating, variable and may vary inversely with respect to a reference rate, callable or convertible bonds, i.e. have equity like or equity conversion features and are issued or guaranteed by any sovereign government or their agencies, local authority,
supranational or public international bodies, banks, corporates or other commercial issuers (hereinafter “Debt and Debt-Related Securities”)).
Debt securities issued by corporates may be acquired with warrants attached. As a result of a corporate action including a conversion event or restructuring of an underlying issuer, the Sub-Fund may receive equities. The Investment Manager may decide to hold or dispose of such investments where it considers that it is in the Sub-
Fund’s best interests to do so taking into account the
prevailing market conditions.
The Sub-Fund will invest directly in Debt and Debt- Related Securities and may also gain exposure to Debt
and Debt-Related Securities using FDI as set out under the headings “Use of FDI” below. Please see section entitled “Use of FDI” below for a list of securities/ instruments which may embed FDI and/or leverage.
FDI are used to take synthetic long or synthetic short positions. They can provide protection or profit from defaults and default expectations of debt issuers as well as being used to express views on the direction and volatility of Debt and Debt Related Securities.
Based on the analysis outlined in the section entitled “Investment Strategy” below, synthetic short positions may be held to:
- hedge long exposure, i.e. protect the level of loss the Sub-Fund may experience if a security or market to which it’s exposed falls in value;and
- express a negative view on the direction of a market, asset class (e.g. high yield, government bonds, as specified above in the investment policy), interestrates or individual issuer. For example, the Investment Manager may believe the value of a market, asset class (as described above) or individual issuer may fall and the synthetic short position will mean the Sub-Fund will benefit from this movement. This may be achieved, for example, by selling government bond futures, buying credit default swaps or buying put options.

Whilst the extent of synthetic short exposures in the
Sub-Fund will vary over time, the Sub-Fund will generally look to maintain significant positive exposure to Debt and Debt Related Securities.
The Sub-Fund may invest on a global basis and there is no geographical, industry or sector focus in relation to the securities (i.e. any of the abovementioned securities) to which exposure may be taken. However, there may be times when its portfolio is concentrated in bonds issued by issuers in a limited number of countries or regions.
This could be because the Investment Manager believes that a concentrated position will be beneficial to the Sub-Fund. The Sub-Fund may invest more than 20% in
emerging markets debt securities, including Brady bonds, sovereign Eurobonds, corporate bonds, loans and sovereign loans, local treasury bills, notes and bonds, certificates of deposit, commercial paper and money market securities. Exposure to emerging market debt may also be to debt securities of investment grade quality.
The Sub-Fund may invest up to 10% of its Net Asset Value in Debt and Debt Related Securities listed or traded on Russian markets. The Sub-Fund may also invest up to 10% of its Net Asset Value in Debt and Debt-
Related Securities in the People’s Republic of China (“PRC”) traded in the China interbank bond market (“CIBM”) via Bond Connect (as further described Appendix VI to the Prospectus). Any such investment will only be
made on Eligible Markets included in Appendix II to the Prospectus.
Investments in the Sub-Fund may be investment grade quality, sub investment grade quality or unrated. The Investment Manager considers sub investment grade securities to be those which have a credit rating of lower than BBB- at the date of purchase as rated a Recognised Rating Agency. The Sub-Fund may be 100% invested in sub investment grade securities or unrated securities (which may be considered equivalent to sub-investment grade securities). The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in transferable securities or money market instruments which are not admitted to or dealt in on an Eligible Market, in accordance with the UCITS Regulations, including, but not limited to unlisted equities and Debt and Debt-Related Securities.
Otherwise, the securities in which the Sub-Fund will invest are listed or traded on Eligible Markets listed in Appendix II of the Prospectus.
The Sub-Fund may also invest in liquid, cash or near cash assets and up to 10% of the Sub-Fund’s Net Asset Value in collective investment schemes (“CIS”) (including exchange traded funds (“ETFs”) and money market funds) for liquidity (as outlined below) or investment purposes
where such CIS provide an exposure which is consistent with the investment policy of the Sub-Fund.
The Sub-Fund will not invest more than 10% of its Net Asset Value in securities issued and/or guaranteed by a single sovereign issuer with a credit rating below investment grade. For the avoidance of doubt, a single sovereign issuer shall include its government, a public or local authority.
Whilst the Sub-Fund's base currency is U.S. Dollars, it may invest in non-U.S. Dollar denominated assets which may not necessarily be hedged back into U.S. Dollars.

##### Loan Investments
The Sub-Fund may invest up to 10% of its Net Asset Value in unsecuritised loan participations and/or loan assignments provided such instruments constitute money market instruments normally dealt in the money market, are liquid and have a value that may be accurately determined at any time.

##### Cash and Collateral Management
For cash and collateral management purposes the Sub- Fund may, from time to time, invest in a broad range of liquid or near cash assets which can be held to provide liquidity and cover for exposures generated through the use of FDI. Under exceptional circumstances (e.g. market crash or major crisis), the Sub-Fund may be invested temporarily up to 100% in liquid and near cash assets for cash flow management.
Liquid or near cash assets may include Debt and Debt- Related Securities, bank deposits and obligations issued or guaranteed by any sovereign government or their agencies and securities and instruments issued by supranational or public international bodies, banks, corporates or other commercial issuers. It is intended that issuers and/or guarantors of any such securities, instruments or obligations will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a Recognised Rating Agency, or will be deemed by the Investment Manager to be of equivalent quality.
The Sub-Fund may also invest in money market funds including Irish UCITS managed by Insight Investment Funds Management Limited and advised by the Investment Manager.

##### Collective Investment Schemes
The Sub-Fund may also pursue its investment objective and policy by taking positions in CIS, subject to a maximum of 10% of the Net Asset Value of the Sub- Fund. Any investment in open-ended ETFs will be subject to the 10% limit above and any investment in closed- ended ETFs shall constitute an investment in a transferable security in accordance with the requirements of the Central Bank.
The schemes in which the Sub-Fund invests may also be managed by Insight Investment Funds Management Limited, the Investment Manager or by entities affiliated to any of them.

##### Benchmark
SOFR (90-day compounded) (the “Cash Benchmark”).
SOFR (the Secured Overnight Financing Rate) is a broad measure of the cost of borrowing cash overnight collateralised by U.S. Treasuries and is administered by the New York Federal Reserve.
The Sub-Fund uses the Cash Benchmark as a target against which to measure its performance on a rolling annualised 3-year basis before fees.
The Sub-Fund is actively managed, which means the Investment Manager has discretion over the selection of investments, subject to the investment objective and policy.

##### Investment Strategy
The Sub-Fund’s investment strategy is driven by the Investment Manager’s views on specific companies, rather than on the industries in which those companies
operate or on the economy as a whole. The Investment Manager is looking for companies whose debt it considers to be under-valued (as outlined below) and high yielding versus similar debt. In particular the Investment Manager is looking for companies that:
- generate a positive level of cash such that they are looking to reduce their borrowing, but where this is not reflected in the price of their debt;
- have outstanding subordinated debt (i.e. debt that has a lower rating and therefore offers a higher rate of interest) that matures ahead of their senior debt;
- may have longer term issues, but are liquid in the short term and can meet their short term debt payments.

Cash, liquid or near cash assets can be used to protect the Sub-Fund’s value with the % level held within the Sub-Fund being determined by the Investment Manager’s view on the health of the economy using key economic
indicators such as Gross Domestic Product (GDP), inflation and interest rate forecasts and employment data. For example, if the Investment Manager is concerned that the economy will suffer a downturn the Sub-Fund may increase its cash position.

##### The Sustainable Finance Disclosure Regulation
When assessing the sustainability risk associated with underlying investments of the Sub-Fund, the Investment Manager is assessing the risk that the value of such
underlying investments could be materially negatively impacted by an ESG event or condition (“ESG Event”). Sustainability risks are managed by ensuring senior
decision makers are informed and included in the Investment Manager’s responsible investment programme, and set effective accountability,
transparency and implementation procedures. Where sustainability risk issues are considered material to investment outcomes, they are incorporated into due diligence processes. This may include evaluating individual securities and/or interaction with issuers or market participants. Internal controls ensure sustainability criteria are applied to The Sub-Fund continuously. ESG restrictions, which includes proprietary ESG ratings and third-party data, are set to prevent or permit investment in securities that meet sustainability- related characteristics. These controls are coded against the Sub-Fund and updated as new information is absorbed.
Corporate governance is a key sustainability risk factor forming part of proprietary ESG risk ratings for all issuers. The Investment Manager's corporate governance assessment includes evaluating board practices and behaviour, remuneration, control and accountability, and ethics or controversies. The Investment Manager applies the insights from ESG ratings alongside their own
knowledge of issuers’ governance structures to set
engagement priorities with issuers. The Investment
Manager considers these risks together to decide whether an investment reasonably compensates a fund for sustainability risks over the long and short-term.
In terms of social and environmental factors, the Investment Manager’s proprietary ESG ratings methodology provides sector specific and issuer specific
information on key issues. This model helps the Investment Manager to identify key risks that a specific sector or issuer may be facing.
The Sub-Fund may underperform or perform differently relative to other comparable funds that do not integrate sustainability risks into their investment decisions and there is a risk that that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Interest Rate Futures |
| --- | --- |
| Options | Interest Rate Options |
| Forwards | Forward Foreign Exchange Contracts |
| Swaps | Credit Default Swaps (“CDS”) (single name and index) Interest Rate Swaps Cross Currency Swaps Total Return Swaps (single name, index, and basket (in the case of the latter, underlying components of which can be grouped by sector, geography or other characteristics)) |
| Securities with Em- bedded FDI/ Leverage | Bonds with warrants attached Callable Bonds Asset-Backed Securities (ABS) and Mortgage- Backed Securities (MBS) Convertible Bonds |
| Other | Repurchase agreements/reverse repurchase agreements |

A list of the Eligible Markets on which the FDI may be quoted or traded is set out in Appendix II of the Prospectus.
Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub-Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit CDX Emerging Markets Index Markit CDX North American High Yield Index Markit iTraxx Asia Index Markit iTraxxEurope Index Markit iTraxxSenior Financials Index Markit iTraxxSubordinated Financials Index Markit iTraxx Crossover Index |
| Interest rate indices to provide exposure to interest rate markets and to express the Investment Managers’ view that the yield curve will move in a particular direction in a more cost effective or efficient manner than buying physical securities. | EURIBOR LIBOR SOFR SONIA |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. The remaining financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where additional information can be found, will be set out in the
Company’s semi-annual and annual accounts.”

##### Long and Short Positions
The Sub-Fund may employ synthetic long and synthetic short exposures in each of the asset classes referenced in the Investment Policy to achieve its investment objective. The total net long exposure (after taking account of hedging) through FDI is not expected to exceed 100% of the Net Asset Value of the Sub-Fund and the total net short exposure is not expected to exceed 100% of the Net Asset Value of the Sub-Fund (using the commitment approach).

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 100% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”) as described under the heading “Use of FDI” and may engage in SFTs, i.e. securities lending arrangements and
repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 30% and in respect of SFTs shall be 100%
of the Net Asset Value of the Sub-Fund. However, it is not anticipated that the Sub-Fund’s exposure in respect of TRS will exceed 20% and in respect of SFTs will
exceed 30% of the Net Asset Value of the Sub-Fund. The types of assets that will be subject to TRS and SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail in respect of TRS, SFTs and acceptable
collateral and counterparty procedure is given under the headings “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1£, 1€, 1CAD, 1AUD, 1CHF, 1SGD, 10HKD, 10CNH, 100¥, 10DKK,
10NOK or 10SEK depending on the currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) share classes with the suffix (“M”), dividends will normally be declared monthly on the last Business Day of the month. For
holders of income generating monthly distributing Shares, the declared dividends will normally be paid on or before the 20
th 
calendar day of the following month. In the case of all other income generating (Inc.) share classes and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. Holders of income generating Shares will normally be paid the dividends declared on or before 11 February, 11 May, 11 August and 11 November respectively. Further details are set out
under the heading "The Company - Distribution Policy” in
the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors’ attention is drawn to the section entitled “Risk Factors” in the Prospectus and specifically to the risks set out under the headings “Emerging Markets Risk”, “High Yield/Sub-Investment Grade Securities Risk” and “Investment in Russia”.

## BNY Mellon U.S. Municipal Infrastructure Debt Fund

### SUPPLEMENT 35 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- It is proposed to charge management fees and other fees and expenses of the Sub-Fund to the capital of the Sub-Fund to seek to maximise distributions. See “Fees and Expenses” in the Prospectus for further details.


#### The Investment Manager
Insight North America LLC

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors to which each class of Shares may be offered is set out
under the heading “The Company - Structure” in the
Prospectus.
| “P” Shares and “P (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro P (Acc.) (hedged) | EUR | 5,000 | 5% | 1.10% | 0% |
| Euro P (Inc.) (hedged) | EUR | 5,000 | 5% | 1.10% | 0% |
| USD P (Acc.) | USD | 5,000 | 5% | 1.10% | 0% |
| USD P (Inc.) | USD | 5,000 | 5% | 1.10% | 0% |
| AUD P (Acc.) (hedged) | AUD | 5,000 | 5% | 1.10% | 0% |
| AUD P (Inc.) (hedged) | AUD | 5,000 | 5% | 1.10% | 0% |

| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro A (Acc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 1.00% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| USD A (Acc.) | USD | 5,000 | 5% | 1.00% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 1.00% | 0% |
| USD A (Inc.) (M) | USD | 5,000 | 5% | 1.00% | 0% |
| Sterling A (Acc.) | GBP | 5,000 | 5% | 1.00% | 0% |
| Sterling A (Inc.) | GBP | 5,000 | 5% | 1.00% | 0% |
| CHF A (Acc.) | CHF | 5,000 | 5% | 1.00% | 0% |
| CHF A (Inc.) | CHF | 5,000 | 5% | 1.00% | 0% |
| Euro H (Acc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro H (Inc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| Sterling H (Acc.) (hedged) | GBP | 5,000 | 5% | 1.00% | 0% |
| Sterling H (Inc.) (hedged) | GBP | 5,000 | 5% | 1.00% | 0% |
| CHF H (Acc.) (hedged) | CHF | 5,000 | 5% | 1.00% | 0% |
| CHF H (Inc.) (hedged) | CHF | 5,000 | 5% | 1.00% | 0% |
| AUD H (Acc.) (hedged) | AUD | 5,000 | 5% | 1.00% | 0% |
| AUD H (Inc.) (hedged) | AUD | 5,000 | 5% | 1.00% | 0% |
| SGD H (Inc.) (M) (hedged) | SGD | 5,000 | 5% | 1.00% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 0.50% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 0.50% | 0% |
| Euro G (Acc.) (hedged) | EUR | 5,000 | 5% | 0.50% | 0% |
| Euro G (Inc.) (hedged) | EUR | 5,000 | 5% | 0.50% | 0% |
| Sterling G (Acc.) (hedged) | GBP | 5,000 | 5% | 0.50% | 0% |
| Sterling G (Inc.) (hedged) | GBP | 5,000 | 5% | 0.50% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro C (Acc.) | EUR | 5,000,000 | 5% | 0.50% | 0% |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 0.50% | 0% |
| USD C (Acc.) | USD | 5,000,000 | 5% | 0.50% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 0.50% | 0% |
| Sterling C (Acc.) | GBP | 5,000,000 | 5% | 0.50% | 0% |
| Sterling C (Inc.) | GBP | 5,000,000 | 5% | 0.50% | 0% |
| CHF C (Acc.) | CHF | 5,000,000 | 5% | 0.50% | 0% |
| CHF C (Inc.) | CHF | 5,000,000 | 5% | 0.50% | 0% |
| Euro I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 0.50% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 0.50% | 0% |
| Sterling I (Acc.) (hedged) | GBP | 5,000,000 | 5% | 0.50% | 0% |
| Sterling I (Inc.) (hedged) | GBP | 5,000,000 | 5% | 0.50% | 0% |
| CHF I (Acc.) (hedged) | CHF | 5,000,000 | 5% | 0.50% | 0% |
| CHF I (Inc.) (hedged) | CHF | 5,000,000 | 5% | 0.50% | 0% |
| AUD I (Acc.) (hedged) | AUD | 5,000,000 | 5% | 0.50% | 0% |
| AUD I (Inc.) (hedged) | AUD | 5,000,000 | 5% | 0.50% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro W (Acc.) | EUR | 15,000,000 | 5% | 0.40% | 0% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.40% | 0% |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.40% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.40% | 0% |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.40% | 0% |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.40% | 0% |
| CHF W (Acc.) | CHF | 15,000,000 | 5% | 0.40% | 0% |
| CHF W (Inc.) | CHF | 15,000,000 | 5% | 0.40% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.40% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.40% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.40% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.40% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.40% | 0% |
| CHF W (Inc.) (hedged) | CHF | 15,000,000 | 5% | 0.40% | 0% |

| “Z” Shares and “Z (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD Z (Acc.) | USD | 200,000,000 | 5% | 0.35% | 0% |
| USD Z (Inc.) | USD | 200,000,000 | 5% | 0.35% | 0% |
| Euro Z (Acc.) (hedged) | EUR | 200,000,000 | 5% | 0.35% | 0% |
| Euro Z (Inc.) (hedged) | EUR | 200,000,000 | 5% | 0.35% | 0% |
| CHF Z (Acc.) (hedged) | CHF | 200,000,000 | 5% | 0.35% | 0% |
| CHF Z (Inc.) (hedged) | CHF | 200,000,000 | 5% | 0.35% | 0% |
| Sterling Z (Acc.) (hedged) | GBP | 200,000,000 | 5% | 0.35% | 0% |
| Sterling Z (Inc.) (hedged) | GBP | 200,000,000 | 5% | 0.35% | 0% |

| “E” Shares and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro E (Acc.) | EUR | As agreed | 5% | 0.30% | 0% |
| Euro E (Inc.) | EUR | As agreed | 5% | 0.30% | 0% |
| USD E (Acc.) | USD | As agreed | 5% | 0.30% | 0% |
| USD E (Inc.) | USD | As agreed | 5% | 0.30% | 0% |
| Sterling E (Acc.) | GBP | As agreed | 5% | 0.30% | 0% |
| Sterling E (Inc.) | GBP | As agreed | 5% | 0.30% | 0% |
| CHF E (Acc.) | CHF | As agreed | 5% | 0.30% | 0% |
| CHF E (Inc.) | CHF | As agreed | 5% | 0.30% | 0% |
| Euro E (Acc.) (hedged) | EUR | As agreed | 5% | 0.30% | 0% |
| Euro E (Inc.) (hedged) | EUR | As agreed | 5% | 0.30% | 0% |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.30% | 0% |
| Sterling E (Inc.) (hedged) | GBP | As agreed | 5% | 0.30% | 0% |
| CHF E (Acc.) (hedged) | CHF | As agreed | 5% | 0.30% | 0% |
| CHF E (Inc.) (hedged) | CHF | As agreed | 5% | 0.30% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) | EUR | None | 0% | 0% | 0% |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| Sterling X (Acc.) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) | GBP | None | 0% | 0% | 0% |
| CHF X (Acc.) | CHF | None | 0% | 0% | 0% |
| CHF X (Inc.) | CHF | None | 0% | 0% | 0% |
| Euro X (Acc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Sterling X (Acc.) (hedged) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) (hedged) | GBP | None | 0% | 0% | 0% |
| CHF X (Acc.) (hedged) | CHF | None | 0% | 0% | 0% |
| CHF X (Inc.) (hedged) | CHF | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund seeks to provide as high a level of income as is consistent with the preservation of capital.

##### Investment Policy
In order to achieve its investment objective of providing a high level of income with the aim of preserving capital at the same time, the Sub-Fund invests predominantly (meaning at least 75% of the Net Asset Value of the Sub- Fund) in a portfolio of municipal bonds which are listed or traded on Eligible Markets. Municipal bonds are bonds issued by a state, municipality, not-for-profit corporate issuers or special purpose district such as transit authorities (i.e. independent, special-purpose governmental units that exist separately from local governments) in the United States of America to finance infrastructure sectors and projects conducted within the United States of America, its territories and possessions. Certain non-governmental issuers, primarily hospitals, colleges and universities, will issue taxable municipal bonds as not-for-profit corporate issuers. This can lower the cost of issuance by allowing such issuers to sell the municipal bonds directly. Additionally, municipal bonds issued by not for profit corporate issuers can be included within the principal global or U.S. aggregate bond indices thereby broadening the potential investor base for these municipal bonds.
Other than municipal bonds, the Sub-Fund may also invest up to 20% of its Net Asset Value in other government and/or corporate debt and debt-related securities which are issued by the U.S. federal government or its agencies, public international bodies, corporates or other commercial issuers.
Government and/or corporate debt and debt-related securities in which the Sub-Fund may invest may be fixed or floating rate securities (i.e. municipal bonds, Variable Rate Demand Notes (VRDNs), tender option bonds, Floating Rate Notes (FRNs), treasury bills, agency bonds, zero coupon bonds, asset-backed securities, mortgage-
backed securities, credit linked notes, structured notes, money market instruments (i.e. commercial paper and
bank deposits), private placements (i.e. 144A bonds)), hereinafter “Debt and Debt-Related Securities”.
The Investment Manager may look to invest in FRNs if there was an expectation that interest rates were to increase. The Sub-Fund may invest in residual interest certificates issued by Tender Option Bond Trusts where this provides a more cost effective means of gaining exposure to municipal bonds than investing in the underlying municipal bonds directly.
The Sub-Fund will invest directly in Debt and Debt- Related Securities and may also gain exposure to Debt and Debt-Related Securities using FDI as set out under
the heading “Use of FDI”. FDIs can be used to express
views on the direction and volatility of Debt and Debt-
Related Securities.
The Sub-Fund will invest in investment grade or sub- investment grade (i.e. below BBB- or its equivalent) Debt and Debt-Related Securities as rated by a Recognised Rating Agency. For the avoidance of doubt, the Sub-Fund may not invest in unrated securities. At least 80% of the Debt and Debt-Related Securities in which the Sub-Fund may invest will be investment grade and no more than 20% of the Debt and Debt-Related Securities in which the Sub-Fund may invest will be sub-investment grade
securities. Within the Sub-Fund’s investment in sub-
investment grade securities, no more than 10% of the
Net Asset Value of the Sub-Fund may be invested in sub- investment grade securities rated below BB- as rated by a Recognised Rating Agency at the time of investment, and the minimum credit rating of the Debt and Debt- related securities in which the Sub-Fund may invest at time of investment is B- (or its equivalent) as rated by a Recognised Rating Agency.
In the case of asset-backed securities, mortgage-backed securities and other investments linked to credit risk, the Sub-Fund will not invest in Debt and Debt-Related Securities rated as of the date of purchase below BBB- (or its equivalent), as rated by a Recognised Rating Agency.
In the case of a split rating (i.e. different ratings are given by two or more rating agencies), the lower of the two highest rating will be considered.
In the event that any Debt and Debt-Related Securities held by the Sub-Fund are subsequently downgraded below the limits referred to above, the Investment Manager may maintain a maximum exposure of 3% of the Net Asset Value of the Sub-Fund to such downgraded securities. To the extent that the aggregate value of such securities exceeds 3% of the Net Asset Value of the Sub- Fund, any which have not been upgraded within a six- month period, will be sold. Exposures arising from the underlying holdings of collective investment schemes
(“CIS”) will be taken into account in the application of the
restrictions set out in this paragraph.
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in transferable securities (i.e. Debt and Debt-Related Securities) which are not admitted to or dealt in on an Eligible Market in accordance with the UCITS Regulations. With the exception of permitted
investment in unlisted transferable securities and approved money market instruments, the Sub-Fund’s investments shall be listed or traded on Eligible Markets.
A list of the Eligible Markets is set out in Appendix II of the Prospectus.
The Sub-Fund may also invest in liquid, cash or near
cash assets and up to 10% of its Net Asset Value in collective investment schemes (“CIS”).
The Sub-Fund does not intend to take short positions.

##### Cash and Collateral Management
The Sub-Fund will hold cash and liquid near cash assets in certain circumstances, such as meeting redemptions, facilitating payment of expenses, holding cash on deposit pending reinvestment and to provide liquidity and collateral to support FDI exposure.
Liquid near cash assets may include money market instruments such as U.S. treasury bills, treasury bonds and bank deposits. It is intended that issuers and/or guarantors of any such securities and instruments will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a Recognised Rating Agency, or will be deemed by the Investment Manager to be of equivalent quality.

##### Collective Investment Schemes
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in open-ended CIS including exchange
traded funds (“ETFs”) and money market funds. The
minimum credit rating of the Debt and Debt-Related
Securities that such collective investment schemes may invest at time of purchase is B- (or its equivalent), or, in the case of asset-backed securities, mortgage backed securities and other investments linked to risk, is BBB- (or its equivalent) as rated by a Recognised Rating Agency. In the case of a split rating, the lower of the two highest ratings will be considered. CIS may include another Sub-Fund or Sub-Funds of the Company or other funds advised by the Investment Manager. Any investment in closed-ended funds (including ETFs) constituting transferable securities will be in accordance
with the criteria and investment limits for transferable securities, as set out under the heading “The Company - Investment and Borrowing Restrictions” in the Prospectus.

##### Benchmark
50% Bloomberg Barclays U.S. Municipal Bond TR Index, 50% Bloomberg Barclays Taxable U.S. Municipal Bond TR
Index (the “Blended Benchmark”).
The Bloomberg Barclays U.S. Municipal Bond Index is a broad-based benchmark that measures the investment grade, U.S. Dollar denominated, fixed tax exempt bond market. The index includes state and local general obligation, revenue, insured, and pre-refunded bonds.
The Bloomberg Barclays Taxable U.S. Municipal Bond Index is a broad based benchmark that measures the investment grade, U.S. Dollar denominated, fixed interest taxable municipal bond market.
The Sub-Fund will measure its performance against the Blended Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest outside the Blended Benchmark subject to the investment objective and policy. While the majority of the
Sub-Fund’s holdings are expected to be constituents of,
and have similar weightings to, the Blended Benchmark,
the investment strategy does not restrict the extent to which the Investment Manager may deviate from the Blended Benchmark.

##### Investment Strategy
The Sub-Fund’s investment strategy is driven by the Investment Manager’s team-based philosophy that seeks to diversify risk exposures and emphasises sector and
security selection of both U.S. tax exempt and taxable coupon municipal infrastructure bonds. Municipal debt issuers may issue and the Sub-Fund may purchase both
U.S. taxable and U.S. tax exempt municipal infrastructure bonds. The tax treatment of the coupons received from such taxable or tax exempt bonds is, however, undifferentiated for non-U.S. taxpayers and the Sub-Fund does not seek to and will not necessarily benefit from the tax exempt status of any municipal infrastructure bonds it purchases. Such investments will be selected based on their other characteristics as detailed here. The Investment Manager selects the proposed investments of the Sub-Fund, as described under the heading
“Investment Policy” above by identifying undervalued
sectors and securities through intensive fundamental and quantitative analysis. The Investment Manager’s investment process emphasises the identification of
undervalued sectors and securities in the municipal and taxable bond markets. The focus is on capitalising on yield anomalies among municipal and taxable sectors, identifying undervalued securities, and thereby pinpointing relative value between particular bonds.
Through the Investment Manager’s research expertise and
trading acumen, the team seeks to invest in securities
whose price is higher relative to its peers rather than
relying on interest rate forecasting to deliver excess return. The Investment Manager’s deep and experienced team of municipal analysts tries to identify “stable-to- improving” debt securities through independently researching hundreds of issuers on a regular basis. Credit
analysts cover both new and secondary market issues and make sector and security recommendations based on credit fundamentals, market conditions and the external ratings agencies' views. Based on the aforementioned analysis by the Investment Manager, sell decisions in
respect of securities are driven by the anticipated decline in an issuer’s fundamental credit outlook and identification of unjustifiably-high valued securities.

##### The Sustainable Finance Disclosure Regulation
The management of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying
investments could be materially negatively impacted by an ESG event or condition (“ESG Event”).
As part of the bottom-up security research process, the Investment Manager assesses the ESG factors of each
portfolio investment for potential sustainability risks. The Investment Manager’s internal credit research includes resources such as the Investment Manager’s proprietary ESG score as an input and is supplemented with credit
rating agency research, sell-side research and industry events. This research into sustainability risks is taken into consideration, along with additional fundamental analysis, in the security selection process.
The Investment Manager also assesses the governance practices of issuers through its fundamental research in order to satisfy itself that the relevant issuers follow good governance practices, in particular with respect to sound management structures, financial disclosure practices, pension funding management, capital improvement programs and cybersecurity policies.
The Investment Manager monitors sustainability risk factors on a regular basis through portfolio reviews.
As explained above, the management and assessment of sustainability risks forms an important part of the Investment Manager's due diligence, however there may still be a risk that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Interest Rate Futures (including bond futures) |
| --- | --- |
| Options | Interest Rate Options Swaptions Bond options (including tender option bonds) |
| Forwards | Forward Foreign Exchange Contracts |
| Swaps | Interest Rate Swaps Credit Default Swaps |
| Securities with Em- bedded FDI/ Leverage | Asset-Backed Securities (ABS) Mortgage-Backed Securities (MBS) Credit Linked Notes (CLN) Structured Notes |

A list of the Eligible Markets on which the FDI may be quoted or traded is set out in Appendix II of the Prospectus.
Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial
purpose, are described in the Prospectus in the section entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub-Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Interest rate indices to provide exposure to interest rate markets and to express the Investment Managers’ view that the yield curve will move in a particular direction in a more cost effective or efficient manner than buying physical securities. | SOFR SONIA |

These financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where
additional information can be found, will be set out in the Company’s semi-annual and annual accounts.

#### Registration in Hong Kong
This Sub-Fund is registered for sale in Hong Kong.

#### Registration in Taiwan
This Sub-Fund is registered for sale in Taiwan.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Absolute VaR
Absolute VaR Limit: 20% of the Net Asset Value of the Sub-Fund (using a 20 Business Day holding period)
Gross leverage is expected to vary between: 0 – 200% of the Net Asset Value. The gross leverage may exceed this target level at times
For more information on the Absolute VaR approach and Gross Leverage, please see “The Company – Global Exposure and Leverage” section in the Prospectus.
The Central Bank UCITS Regulations provide that where VaR is used as a risk management approach it can also be supplemented with a leverage calculation using the commitment approach.
Maximum leverage: 40% of the Net Asset Value (Using the commitment approach)
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions
and limits set out in the Central Bank UCITS Regulations. Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in SFTs, i.e. securities lending arrangements and
repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 100% and in respect of SFTs shall be 100%
of the Net Asset Value of the Sub-Fund. However, it is not anticipated that the Sub-Fund’s exposure in respect of TRS will exceed 10% and to the SFTs will exceed 15%
of the Net Asset Value. The types of assets that will be subject to TRS and SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on TRS and SFTs, including acceptable collateral is given under the headings “Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at
which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1£, 1€, 1CHF, 1SGD or 1AUD depending on the currency of the
relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) share classes with the suffix (“M”), dividends will normally be declared monthly on the last Business Day of the month. For
holders of income generating monthly distributing Shares, the declared dividends will normally be paid on or before the 20th calendar day of the following month. For all other income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared semi-annually on 31 December and 30 June. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February and 11 August.
Further details are set out under the heading "The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors’ attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Dynamic U.S. Equity Fund

### SUPPLEMENT 36 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may invest principally in FDI, and will use FDI for investment, hedging and efficient portfolio management purposes. The use of FDI for investment purposes may be extensive. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- The Sub-Fund’s Net Asset Value may have a high level of volatility due to its investment policy.


#### The Investment Manager
Newton Investment Management North America LLC

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its investment management functions with respect to this Sub-Fund to Newton Investment Management Limited
(the “Sub-Investment Manager”). Details of the Sub-
Investment Management Agreement between the
Investment Manager and the Sub-Investment Manager are set out under the heading “Sub-Investment Managers” in the Prospectus.

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 17.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD A (Acc.) | USD | 5,000 | 5% | 0.80% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 0.80% | 0% |
| Euro A (Acc.) | EUR | 5,000 | 5% | 0.80% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 0.80% | 0% |
| Sterling A (Acc.) | GBP | 5,000 | 5% | 0.80% | 0% |
| Sterling A (Inc.) | GBP | 5,000 | 5% | 0.80% | 0% |
| CHF H (Acc.) | CHF | 5,000 | 5% | 0.80% | 0% |
| CHF H (Inc.) | CHF | 5,000 | 5% | 0.80% | 0% |
| Euro H (Acc.) (hedged) | EUR | 5,000 | 5% | 0.80% | 0% |
| Euro H (Inc.) (hedged) | EUR | 5,000 | 5% | 0.80% | 0% |
| Sterling H (Acc.) (hedged) | GBP | 5,000 | 5% | 0.80% | 0% |
| Sterling H (Inc.) (hedged) | GBP | 5,000 | 5% | 0.80% | 0% |
| CHF H (Acc.) (hedged) | CHF | 5,000 | 5% | 0.80% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| CHF H (Inc.) (hedged) | CHF | 5,000 | 5% | 0.80% | 0% |
| SEK H (Acc.) (hedged) | SEK | 50,000 | 5% | 0.80% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 0.60% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 0.60% | 0% |
| Euro G (Acc.) | EUR | 5,000 | 5% | 0.60% | 0% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 0.60% | 0% |
| Sterling G (Acc.) | GBP | 5,000 | 5% | 0.60% | 0% |
| Sterling G (Inc.) | GBP | 5,000 | 5% | 0.60% | 0% |
| Euro G (Acc.) (hedged) | EUR | 5,000 | 5% | 0.60% | 0% |
| Euro G (Inc.) (hedged) | EUR | 5,000 | 5% | 0.60% | 0% |
| Sterling G (Acc.) (hedged) | GBP | 5,000 | 5% | 0.60% | 0% |
| Sterling G (Inc.) (hedged) | GBP | 5,000 | 5% | 0.60% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD C (Acc.) | USD | 5,000,000 | 5% | 0.60% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 0.60% | 0% |
| Euro C (Acc.) | EUR | 5,000,000 | 5% | 0.60% | 0% |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 0.60% | 0% |
| Sterling C (Acc.) | GBP | 5,000,000 | 5% | 0.60% | 0% |
| Sterling C (Inc.) | GBP | 5,000,000 | 5% | 0.60% | 0% |
| CHF C (Acc.) | CHF | 5,000,000 | 5% | 0.60% | 0% |
| CHF C (Inc.) | CHF | 5,000,000 | 5% | 0.60% | 0% |
| CAD C (Acc.) | CAD | 5,000,000 | 5% | 0.60% | 0% |
| CAD C (Inc.) | CAD | 5,000,000 | 5% | 0.60% | 0% |
| Euro I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 0.60% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 0.60% | 0% |
| Sterling I (Acc.) (hedged) | GBP | 5,000,000 | 5% | 0.60% | 0% |
| Sterling I (Inc.) (hedged) | GBP | 5,000,000 | 5% | 0.60% | 0% |
| CHF I (Acc.) (hedged) | CHF | 5,000,000 | 5% | 0.60% | 0% |
| CHF I (Inc.) (hedged) | CHF | 5,000,000 | 5% | 0.60% | 0% |
| CAD I (Acc.) (hedged) | CAD | 5,000,000 | 5% | 0.60% | 0% |
| CAD I (Inc.) (hedged) | CAD | 5,000,000 | 5% | 0.60% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.40% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.40% | 0% |
| Euro W (Acc.) | EUR | 15,000,000 | 5% | 0.40% | 0% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.40% | 0% |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.40% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.40% | 0% |
| CHF W (Acc.) | CHF | 15,000,000 | 5% | 0.40% | 0% |
| CHF W (Inc.) | CHF | 15,000,000 | 5% | 0.40% | 0% |
| CAD W (Acc.) | CAD | 15,000,000 | 5% | 0.40% | 0% |
| CAD W (Inc.) | CAD | 15,000,000 | 5% | 0.40% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.40% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.40% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.40% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.40% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.40% | 0% |
| CHF W (Inc.) (hedged) | CHF | 15,000,000 | 5% | 0.40% | 0% |
| CAD W (Acc.) (hedged) | CAD | 15,000,000 | 5% | 0.40% | 0% |
| CAD W (Inc.) (hedged) | CAD | 15,000,000 | 5% | 0.40% | 0% |
| SEK W (Acc.) (hedged) | SEK | 150,000,000 | 5% | 0.40% | 0% |

| “R” Shares and “R (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Hurdle Rate |
| USD R (Acc.) | USD | 5,000 | 5% | 0.60% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| USD R (Inc.) | USD | 5,000 | 5% | 0.60% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| Euro R (Acc.) (hedged) | EUR | 5,000 | 5% | 0.60% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| Euro R (Inc.) (hedged) | EUR | 5,000 | 5% | 0.60% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| Sterling R (Acc.) (hedged) | GBP | 5,000 | 5% | 0.60% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| Sterling R (Inc.) (hedged) | GBP | 5,000 | 5% | 0.60% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| CHF R (Acc.) (hedged) | CHF | 5,000 | 5% | 0.60% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| CHF R (Inc.) (hedged) | CHF | 5,000 | 5% | 0.60% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |

| “D” Shares and “D (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Hurdle Rate |
| USD D (Acc.) | USD | 5,000 | 5% | 0.40% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| USD D (Inc.) | USD | 5,000 | 5% | 0.40% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| Euro D (Acc.) (hedged) | EUR | 5,000 | 5% | 0.40% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Hurdle Rate |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Euro D (Inc.) (hedged) | EUR | 5,000 | 5% | 0.40% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| Sterling D (Acc.) (hedged) | GBP | 5,000 | 5% | 0.40% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| Sterling D (Inc.) (hedged) | GBP | 5,000 | 5% | 0.40% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| CHF D (Acc.) (hedged) | CHF | 5,000 | 5% | 0.40% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| CHF D (Inc.) (hedged) | CHF | 5,000 | 5% | 0.40% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| CAD D (Acc.) (hedged) | CAD | 5,000 | 5% | 0.40% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| CAD D (Inc.) (hedged) | CAD | 5,000 | 5% | 0.40% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |

| “S” Shares and “T (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Hurdle Rate |
| USD S (Acc.) | USD | 5,000,000 | 5% | 0.40% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| USD S (Inc.) | USD | 5,000,000 | 5% | 0.40% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| Euro T (Acc.) (hedged) | EUR | 5,000,000 | 5% | 0.40% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| Euro T (Inc.) (hedged) | EUR | 5,000,000 | 5% | 0.40% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| Sterling T (Acc.) (hedged) | GBP | 5,000,000 | 5% | 0.40% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| Sterling T (Inc.) (hedged) | GBP | 5,000,000 | 5% | 0.40% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| CHF T (Acc.) (hedged) | CHF | 5,000,000 | 5% | 0.40% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| CHF T (Inc.) (hedged) | CHF | 5,000,000 | 5% | 0.40% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| CAD T (Acc.) (hedged) | CAD | 5,000,000 | 5% | 0.40% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| CAD T (Inc.) (hedged) | CAD | 5,000,000 | 5% | 0.40% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |

| “U” Shares “U (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Hurdle Rate |
| USD U (Acc.) | USD | 15,000,000 | 5% | 0.20% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| USD U (Inc.) | USD | 15,000,000 | 5% | 0.20% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| Euro U (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.20% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| Euro U (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.20% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| Sterling U (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.20% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| Sterling U (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.20% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| CHF U (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.20% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| CHF U (Inc.) (hedged) | CHF | 15,000,000 | 5% | 0.20% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| CAD U (Acc.) (hedged) | CAD | 15,000,000 | 5% | 0.20% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| CAD U (Inc.) (hedged) | CAD | 15,000,000 | 5% | 0.20% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |

| “F” Shares and “F (hedged)” Shares* |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Hurdle Rate |
| USD F (Acc.) | USD | As agreed | 5% | 0.10% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| USD F (Inc.) | USD | As agreed | 5% | 0.10% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| Euro F (Acc.) (hedged) | EUR | As agreed | 5% | 0.10% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| Euro F (Inc.) (hedged) | EUR | As agreed | 5% | 0.10% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| Sterling F (Acc.) (hedged) | GBP | As agreed | 5% | 0.10% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| Sterling F (Inc.) (hedged) | GBP | As agreed | 5% | 0.10% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| CHF F (Acc.) (hedged) | CHF | As agreed | 5% | 0.10% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| CHF F (Inc.) (hedged) | CHF | As agreed | 5% | 0.10% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Hurdle Rate |
| --- | --- | --- | --- | --- | --- | --- | --- |
| CAD F (Acc.) (hedged) | CAD | As agreed | 5% | 0.10% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |
| CAD F (Inc.) (hedged) | CAD | As agreed | 5% | 0.10% | 0% | 10% | S&P 500 Net Total Return Index in USD terms |

| “E” Shares and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD E (Acc.) | USD | As agreed | 5% | 0.25% | 0% |
| USD E (Inc.) | USD | As agreed | 5% | 0.25% | 0% |
| Euro E (Acc.) | EUR | As agreed | 5% | 0.25% | 0% |
| Euro E (Inc.) | EUR | As agreed | 5% | 0.25% | 0% |
| Sterling E (Acc.) | GBP | As agreed | 5% | 0.25% | 0% |
| Sterling E (Inc.) | GBP | As agreed | 5% | 0.25% | 0% |
| CHF E (Acc.) | CHF | As agreed | 5% | 0.25% | 0% |
| CHF E (Inc.) | CHF | As agreed | 5% | 0.25% | 0% |
| CAD E (Acc.) | CAD | As agreed | 5% | 0.25% | 0% |
| CAD E (Inc.) | CAD | As agreed | 5% | 0.25% | 0% |
| Euro E (Acc.) (hedged) | EUR | As agreed | 5% | 0.25% | 0% |
| Euro E (Inc.) (hedged) | EUR | As agreed | 5% | 0.25% | 0% |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.25% | 0% |
| Sterling E (Inc.) (hedged) | GBP | As agreed | 5% | 0.25% | 0% |
| CHF E (Acc.) (hedged) | CHF | As agreed | 5% | 0.25% | 0% |
| CHF E (Inc.) (hedged) | CHF | As agreed | 5% | 0.25% | 0% |
| CAD E (Acc.) (hedged) | CAD | As agreed | 5% | 0.25% | 0% |
| CAD E (Inc.) (hedged) | CAD | As agreed | 5% | 0.25% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) | EUR | None | 0% | 0% | 0% |
| Sterling X (Acc.) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) | GBP | None | 0% | 0% | 0% |
| CHF X (Acc.) | CHF | None | 0% | 0% | 0% |
| CHF X (Inc.) | CHF | None | 0% | 0% | 0% |
| CAD X (Acc.) | CAD | None | 0% | 0% | 0% |
| CAD X (Inc.) | CAD | None | 0% | 0% | 0% |
| Euro X (Acc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Sterling X (Acc.) (hedged) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) (hedged) | GBP | None | 0% | 0% | 0% |
| CHF X (Acc.) (hedged) | CHF | None | 0% | 0% | 0% |
| CHF X (Inc.) (hedged) | CHF | None | 0% | 0% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| CAD X (Acc.) (hedged) | CAD | None | 0% | 0% | 0% |
| CAD X (Inc.) (hedged) | CAD | None | 0% | 0% | 0% |


#### Performance Fee
In addition to the annual management charge, the Manager will be entitled to an annual performance fee
(the “Performance Fee”) subject to the conditions outlined
below. The rate at which the Performance Fee shall be
applied is set out in the table above. Performance Fees reduce the value of your investment and the investment return you will receive.
The Performance Fee in respect of each relevant Share Class is calculated as the performance fee rate (set out in the table above) of the Share Class Return (as defined below) over the Hurdle Rate Return (as defined below).
The Performance Fee will be calculated in respect of each twelve-month period ending on the 31 December
(the “Calculation Period”). The first Calculation Period will
be the period commencing on the Business Day
immediately following the closing of the Initial Offer Period and ending on 31 December of the same year.
The “Share Class Return” is calculated on each Valuation Day and is the percentage difference between the Adjusted Net Asset Value on such Valuation Day and the
Adjusted Net Asset Value on the previous Valuation Day.
The “Adjusted Net Asset Value” is the Net Asset Value of the relevant share class (which includes an accrual for all fees and expenses including the annual management
charge and the operating and administrative expenses to be borne by the relevant share class, adjusted for any dividend distributions) but without deduction of any Performance Fee accrued since the start of the Calculation Period.
The “Hurdle Rate” is set out in the table above and is consistent with the investment policy of the Sub-Fund. A hurdle rate is a predetermined level of return a fund
must exceed to earn a performance fee. Past performance of the Sub-Fund against S&P 500
® 
Net Total Return Index is disclosed in the KIID for the relevant Class of Shares.
The “Hurdle Rate Return” is calculated on each Valuation Day and is the percentage difference between the Hurdle Rate on such Valuation Day and the Hurdle Rate on the
previous Valuation Day.
On each Valuation Day, an Adjusted Net Asset Value is calculated in respect of each share class for which the Performance Fee applies. If the Share Class Return exceeds the Hurdle Rate Return, a Performance Fee is accrued.
If the Share Class Return does not exceed the Hurdle Rate Return, the Performance Fee accrual is reduced (not below zero). The Performance Fee is reduced by an
amount calculated as the performance fee percentage (as set out in the table above) of the underperformance of the Share Class Return against the Hurdle Rate Return (the negative return) multiplied by the Shares in issue.
Once the Performance Fee accrual has been reduced to zero, no new Performance Fee is accrued until (i) the cumulative Share Class Return exceeds the cumulative Hurdle Rate Return since the beginning of the Calculation Period.
Clawback – Following a Calculation Period in which no Performance Fee has been charged, no Performance Fee will accrue until the cumulative Share Class Return (since
the last Valuation Day of the last accounting year in which a Performance Fee was charged) exceeds the cumulative Hurdle Rate Return (since the last Valuation Day of the last accounting year in which a Performance Fee was charged).
If no Performance Fee has been charged since the launch of a share class, no Performance Fee will accrue until such time as the cumulative Share Class Return (since the launch of that share class) exceeds the cumulative Hurdle Rate Return accrued since the launch of that share class.
The Performance Fee accrued on each Valuation Day is reflected in the Net Asset Value per Share on the basis of which subscriptions, redemptions, switches or transfers may be accepted.
Included in the calculation of the Performance Fee shall be net realised and unrealised capital gains plus net realised and unrealised capital losses as at the end of the relevant period. As a result, Performance Fees may be paid on unrealised gains which may subsequently never be realised.
Positive performance may be generated by market movements as well as active portfolio management; this may lead to circumstances where a portion of the Performance Fee is paid based on market movements.
The calculation of the Performance Fee is not open to the possibility of manipulation and shall be verified by the Depositary.
The Performance Fee is calculated and accrued on each Valuation Day and paid yearly in arrears, in respect of each Calculation Period. Any Performance Fee due will generally be paid within 30 Business Days after the end of each Calculation Period, the date of any redemption, the date of a merger (subject to the requirements of the Central Bank), the date of termination of the Management Agreement or such other date on which the Company or the Sub-Fund may be liquidated or cease trading.

##### Examples of how the performance fee will be calculated
Please note the performance fee model allows for performance fees to be charged where the Sub-Fund has outperformed the Hurdle Rate, but overall has negative performance.
| Valuation Day | Adjusted Net Asset Value at end of Calculation Period | Hurdle Rate Return ex- pressed in pence | Excess Return expressed in pence* | Performance Fee** | Net Asset Value at end of Calculation Period | Description of the example |
| --- | --- | --- | --- | --- | --- | --- |
| 31 December (year one) | 105p | 102p | 3p | 0.3p | 104.7p | Performance of the Adjusted Net Asset Value over the Calculation Period resulted in an Adjusted Net Asset Value of 105p at end of year one, which is higher than the Hurdle Rate Return of 102p and the Excess Return of 3p is positive. Therefore, a Performance Fee of 0.30p was paid. |
| 31 December (year two) | 95p | 106p | 0p | 0p | 95p | Performance of the Adjusted Net Asset Value over the Calculation Period resulted in an Adjusted Net Asset Value of 95p at the end of year two, which is lower than the Hurdle Rate Return of 106p. Therefore, no Performance Fee was paid. |
| 31 December (year three) | 104p | 105p | 0p | 0p | 104p | Performance of the Adjusted Net Asset Value over the Calculation Period resulted in an Adjusted Net Asset Value of 104p at end of year three, which is lower than the Hurdle Rate Return of 105p. Therefore, no Performance Fee was paid. |
| 31 December (year four) | 110p | 108p | 2p | 0.20p | 109.8p | Performance of the Adjusted Net Asset Value over the Calculation Period resulted in an Adjusted Net Asset Value of 110p at end of year four, which is higher than the Hurdle Rate of 108p and the Excess Return of 2p is positive. Therefore, a Performance Fee of 0.20p was paid. |

* Excess Return is the outperformance of the Share Class Return over the Hurdle Rate Return
**10% of Excess Return

#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to outperform the S&P 500
® 
Net Total Return Index (the “Index”) with a similar level of volatility to the Index over three to five years before fees
and expenses.

##### Investment Policy
The Sub-Fund aims to achieve its investment objective by investing the majority of its Net Asset Value in U.S. equities comprising the Index. The Sub-Fund will invest more than 50% of its Net Asset Value directly in the constituents of the Index and may also invest in the constituents of the Index indirectly through FDI. The Sub- Fund may also gain exposure to U.S. debt securities as further detailed below and will hold cash and liquid near
cash assets as further detailed in the section on “Cash and Collateral Management” below.
The Sub-Fund will gain exposure to the Index by investing directly in the underlying equities comprising the Index and indirectly through FDI (as set out below). The Index represents the U.S equity market and consists of a large cross-section of the components of the U.S. economy.
The Index is being used as part of the investment strategy of the Sub-Fund because it represents the U.S. equity market. The Index is rebalanced quarterly.
However, because the Sub-Fund does not aim to replicate or track the Index, the Sub-Fund will not necessarily be impacted by any rebalancing, associated costs or stock weighting in the Index which would exceed the permitted investment restrictions. Additional information on the Index can be found at www.standardandpoors.com.
The Sub-Fund will invest directly in debt and debt- related securities (treasury bills and bonds) which may be fixed or floating rate and are issued or guaranteed by the
U.S. government or their agencies, corporates or other commercial issuers (hereinafter “Debt and Debt-Related Securities”). The Debt and Debt-Related Securities invested in by the Sub-Fund shall be investment grade
securities as rated by a Recognised Rating Agency or unrated but deemed to be investment grade by the
Investment Manager at the time of purchase. The Sub-
Fund may also gain exposure to Debt and Debt-Related Securities using FDI as set out under the heading “Use of FDI” below.
The Sub-Fund will not invest more than 10% of its Net Asset Value in securities issued by or guaranteed by any single country with a credit rating below investment
grade. For the avoidance of doubt a “single country” shall
include a country, its government, a public or local
authority or nationalised industry of that country.
The Sub-Fund may use synthetic short positions, leverage and options as defensive risk management tools but also in order to generate positive returns when prices decline. In accordance with the strategy of the Sub-Fund, the Investment Manager may use synthetic short positions to short U.S. Treasuries. Therefore the level of shorting applied within the Sub-Fund will depend on the
Investment Manager’s investment outlook or the level of
risk of the Sub-Fund. The level of shorting will reflect the Sub-Fund’s risk and volatility objectives. Please see section “Long and Short Positions” for more information.
The Sub-Fund may invest up to 10% of its Net Asset Value in collective investment schemes (“CIS” as further detailed below.
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in transferable securities or money market instruments which are not admitted to or dealt in on an Eligible Market, in accordance with the UCITS Regulations, including, but not limited to, unlisted equities and Debt and Debt-Related Securities.
With the exception of permitted investment in unlisted securities and open-ended collective investment schemes, the Sub-Fund will invest in assets (including FDI) listed or traded on the Eligible Markets listed in Appendix II of the Prospectus.

##### Collective Investment Schemes
The Sub-Fund may also pursue its objectives and policies by taking positions in CIS, subject to a maximum of 10% of the Net Asset Value of the Sub-Fund. Any investment in open-ended ETFs will be subject to the 10% limit outlined above and any investment in closed-ended ETFs shall constitute an investment in a transferable security in accordance with the requirements of the Central Bank. The CIS in which the Sub-Fund invests may also be managed by the Investment Manager or by entities affiliated to it.

##### Cash and Collateral Management
The Sub-Fund may also hold high levels of cash and liquid near cash assets in certain circumstances. Such circumstances include where market conditions may require a defensive investment strategy, the holding of cash on deposit pending reinvestment, to meet redemptions, to facilitate payment of expenses and to provide collateral to support FDI exposure.
Liquid near cash assets may include Debt and Debt- Related Securities and bank deposits. It is intended that issuers and/or guarantors of any such securities and instruments will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a Recognised Rating Agency, or will be deemed by the Investment Manager to be of equivalent quality.

##### Benchmark
S&P 500
® 
Net Total Return Index (the “Index”)
The Index is widely regarded as the best single gauge of large cap U.S. equities. There is over USD 9.9 trillion indexed or benchmarked to the index, with indexed assets comprising approximately USD 3.4 trillion of this total. The Index includes 500 leading companies and covers approximately 80% of available market capitalization.
The Sub-Fund is actively managed, which means the Investment Manager has discretion over the selection of
investments, subject to the investment objective and policy. The Sub-Fund’s equity holdings will be constituents of the Index. The investment strategy allows
flexibility for the Investment Manager to deviate from the Index’s positions whilst it maintains similar volatility to the benchmark over 5 years.

##### Investment Strategy
The Investment Manager’s dynamic U.S. equity strategy is based on its pioneering work in the areas of indexing and
fundamental valuation. The Investment Manager uses the following process to compare the relative attractiveness of equities, bonds and cash in order to select its investments:
Step 1: To forecast the future return of equities, bonds and cash within the investment universe of the Sub-Fund based on the long-term expectations of equity earnings, bond yield and bank account interest rates.
Step 2: To forecast how equities, bonds and cash will perform in relation to each other in various market conditions.
Step 3: To combine the return forecasts in Step 1 and Step 2 to achieve a portfolio of positions with best possible risk and return characteristics.
Step 4: The Investment Manager will look for the most efficient securities to implement the portfolio arrived at
in Step 3. These securities may include physical securities and FDI. For further details see “Use of FDI” below.
Step 5: In order to manage the volatility of the portfolio at the required levels, the Investment Manager monitors shorter term market movement and updates it to its investment outlook. During periods of heightened market volatility or probable recession, the Investment Manager will select investments intended to reduce the risk of the Sub-Fund.
Step 6: To monitor the portfolio on a daily basis. The Investment Manager repeats this process every Business Day to capture any changes in the returns or the risks.
In using this process, the Investment Manager seeks to identify periods when equities look cheap or expensive relative to the other exposures (i.e. bonds and cash) in order to select its assets. If equities look cheap relative to the other exposures, then the Investment Manager will over-weight equities using a modest amount of leverage. If equities look expensive, then the Investment Manager
will under-weight equities, while continuing to invest over 50% the Sub-Fund’s net asset value in physical equities or equity linked FDI. Leverage can also be used for risk
management purposes. An example of using leverage for risk management purposes would be to purchase U.S. treasury bonds on margin. The exposure to U.S. treasury bonds is expected to mitigate the impact of U.S. equity
price declines on the portfolio. In summary, the Investment Manager actively allocates assets to U.S. equities, U.S. Treasuries and U.S. cash market based on its forecasts of return, risk and correlation.

##### The Sustainable Finance Disclosure Regulation
Due to the Sub-Fund’s investment objective, policy and strategy, the Investment Manager does not integrate
sustainability risks (which is defined as an ESG event or condition that, if it occurs, could cause an actual or a potential material negative impact on the value of the
relevant investment (an “ESG Event”) into its investment decisions. The Sub-Fund’s allocation to U.S. equities is required to maintain similar volatility to the Index over 5
years and, consequently, the Investment Manager has limited flexibility to deviate from the positioning of the Index. The Index does not take ESG factors or sustainability risks into account. However, due to the diversified nature of the Sub-Fund, the Investment Manager has determined that the sustainability risk faced by the Sub-Fund is minimal.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Equity Index Futures Bond Futures |
| --- | --- |
| Options | Equity Options (single name, index, sector, custom basket) Bond Options Options on Equity Futures Options on Bond Futures |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub-Fund utilises the following
financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Equity indices to provide exposure to regional and global equity markets in a more cost effective or efficient manner than buying the physical securities. | S&P 500 NR Index |

These financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where
additional information can be found, will be set out in the Company’s semi-annual and annual accounts.

##### Long and Short Positions
The Sub-Fund may employ synthetic long and synthetic short exposures in each of the asset classes referenced in the Investment Policy to achieve its investment objective. The total gross long exposure through FDI is not expected to exceed 200% of the Net Asset Value of the Sub-Fund and the total gross short exposure through FDI is not expected to exceed 150% of the Net Asset Value of the Sub-Fund.

#### Registration in Germany
This Sub-Fund is registered for sale in Germany. The Sub- Fund is classified as an Equity Fund for German tax purposes and as such it will permanently invest more than 50% of its assets in equities as defined in article 2 paragraph 8 of the German Investment Tax Act.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Relative VaR
Relative VaR Limit: Sub-Fund’s portfolio will not exceed twice the VaR on a representative benchmark portfolio (using a 5 Business Day holding period)
Relative VaR Benchmark: S&P 500 NR Index
Gross leverage is expected to vary between: 100 – 500% of the Net Asset Value. The gross leverage may exceed this target level at times
For more information on the Absolute VaR approach and Gross Leverage, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions
and limits set out in the Central Bank UCITS Regulations. Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. securities lending arrangements and repurchase/reverse repurchase
agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of
SFTs shall be 100% of the Net Asset Value of the Sub- Fund. However, it is not anticipated that the Sub-Fund’s exposure to the SFTs will exceed 15% of the Net Asset
Value. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be issued during their respective Initial Offer Periods at their
respective initial offer price per Share of 1USD, 1£, 1€,
1CAD, 1CHF or 10SEK depending on the currency of the
relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February. Further details
are set out under the heading “The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are set out under the sub-heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors’ attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Global Unconstrained Fund

### SUPPLEMENT 37 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
Newton Investment Management Limited

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its investment management functions with respect to this Sub-Fund to Newton Investment Management North
America LLC (the “Sub-Investment Manager”). Details of
the Sub-Investment Management Agreement between the
Investment Manager and the Sub-Investment Manager are set out under the heading “Sub-Investment Managers” in the Prospectus.

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD A (Inc.) | USD | 5,000 | 5% | 1.50% | 0% |
| USD A (Acc.) | USD | 5,000 | 5% | 1.50% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 1.50% | 0% |
| Euro A (Acc.) | EUR | 5,000 | 5% | 1.50% | 0% |
| Sterling A (Inc.) | GBP | 5,000 | 5% | 1.50% | 0% |
| Sterling A (Acc.) | GBP | 5,000 | 5% | 1.50% | 0% |
| Euro H (Inc.) (hedged) | EUR | 5,000 | 5% | 1.50% | 0% |
| Euro H (Acc.) (hedged) | EUR | 5,000 | 5% | 1.50% | 0% |
| Sterling H (Inc.) (hedged) | GBP | 5,000 | 5% | 1.50% | 0% |
| Sterling H (Acc.) (hedged) | GBP | 5,000 | 5% | 1.50% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 1.00% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Acc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Inc.) | GBP | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Acc.) | GBP | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Acc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Inc.) (hedged) | GBP | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Acc.) (hedged) | GBP | 5,000 | 5% | 1.00% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD C (Acc.) | USD | 5,000,000 | 5% | 1.00% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 1.00% | 0% |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Euro C (Acc.) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Inc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Sterling C (Acc.) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Sterling I (Inc.) (hedged) | GBP | 5,000,000 | 5% | 1.00% | 0% |
| Sterling I (Acc.) (hedged) | GBP | 5,000,000 | 5% | 1.00% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.75% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Acc.) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Acc.) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Inc.) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Inc.) (hedged) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| CAD W (Acc.) (hedged) | CAD | 15,000,000 | 5% | 0.75% | 0% |
| CAD W (Inc.) (hedged) | CAD | 15,000,000 | 5% | 0.75% | 0% |

| “E” Shares and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD E (Acc.) | USD | As agreed | 5% | 0.55% | 0% |
| USD E (Inc.) | USD | As agreed | 5% | 0.55% | 0% |
| Euro E (Acc.) | EUR | As agreed | 5% | 0.55% | 0% |
| Euro E (Inc.) | EUR | As agreed | 5% | 0.55% | 0% |
| Sterling E (Acc.) | GBP | As agreed | 5% | 0.55% | 0% |
| Sterling E (Inc.) | GBP | As agreed | 5% | 0.55% | 0% |
| CHF E (Acc.) | CHF | As agreed | 5% | 0.55% | 0% |
| CHF E (Inc.) | CHF | As agreed | 5% | 0.55% | 0% |
| Euro E (Acc.) (hedged) | EUR | As agreed | 5% | 0.55% | 0% |
| Euro E (Inc.) (hedged) | EUR | As agreed | 5% | 0.55% | 0% |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.55% | 0% |
| Sterling E (Inc.) (hedged) | GBP | As agreed | 5% | 0.55% | 0% |
| CHF E (Acc.) (hedged) | CHF | As agreed | 5% | 0.55% | 0% |
| CHF E (Inc.) (hedged) | CHF | As agreed | 5% | 0.55% | 0% |
| CAD E (Acc.) (hedged) | CAD | As agreed | 5% | 0.55% | 0% |
| CAD E (Inc.) (hedged) | CAD | As agreed | 5% | 0.55% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) | EUR | None | 0% | 0% | 0% |
| Sterling X (Acc.) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) | GBP | None | 0% | 0% | 0% |
| Euro X (Acc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Sterling X (Acc.) (hedged) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) (hedged) | GBP | None | 0% | 0% | 0% |
| CAD X (Acc.) (hedged) | CAD | None | 0% | 0% | 0% |
| CAD X (Inc.) (hedged) | CAD | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to achieve a total return comprised of long-term capital growth and income through an unconstrained, dynamic multi-asset approach to asset allocation and security selection.

##### Investment Policy
The Sub-Fund is a global multi-asset fund that aims to achieve its objective through unconstrained and dynamic asset allocation.
The Sub-Fund may invest in equity and equity-related securities (common and preferred stock, American depositary receipts and global depository receipts, securities convertible into or exchangeable for such
equities, warrants and stock purchase rights) and equity- related FDIs as listed in the section entitled “Use of FDI” below.
The Sub-Fund may also invest in debt and debt-related securities (debentures, deposits, notes including corporate, sovereign, floating and fixed rate notes with a minimum term of one year or more, asset-backed securities (ABS), mortgage-backed securities (MBS), and bonds which may be fixed or floating rate and are issued or guaranteed by any sovereign government or their agencies, local authority, supranational or public
international bodies, banks, corporates or other commercial issuers, (hereinafter “Debt and Debt-Related Securities”) and in debt FDIs as listed in the section entitled “Use of FDI” below.
The Sub-Fund may invest up to 10% of its Net Asset Value in CoCos. Please see “Contingent Convertible Securities (CoCos) Risk” in the Prospectus for details of the risks associated with CoCos.
Debt and Debt Related Securities held by the Sub-Fund may be investment grade quality, sub investment grade quality or unrated. The Investment Manager considers sub investment grade securities to be those which have a credit rating of lower than BBB- at the date of purchase as rated by a Recognised Rating Agency. The Sub-Fund may invest more than 30% of its Net Asset Value in below investment grade Debt and Debt-Related Securities.
The Sub-Fund may invest more than 10% and up to 35% of the Sub-Fund’s Net Asset Value in Debt and Debt- Related Securities issued and/or guaranteed by a single
sovereign issuer (including its government, public or local authority) which is below investment grade (i.e. BB+ or below) as rated by a Recognised Rating Agency. Examples of such sovereign issuers are Brazil, Indonesia and Hungary. Such investments are based on the professional judgement of the Investment Manager, whose reasons for investment may include a favourable/positive outlook on the sovereign issuer, potential for ratings upgrade and the expected changes in the value of such investments due to the ratings changes. Please note the ratings of sovereign issuers may change from time to time and the abovementioned sovereigns are named only for reference and are subject to change as their ratings change.
The Sub-Fund may also invest in commodities, property
and infrastructure through collective investment schemes (“CIS”), securities listed or traded on Eligible Markets such as listed real estate investment trusts (“REITS”) and exchange traded funds (“ETFs). The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in CIS
including money market funds.
The Sub-Fund may invest on a global basis and while there is no geographical, industry or sector focus, the Sub-Fund may at times be concentrated in particular industry or sectors including emerging market countries and the U.S. The Sub-Fund may invest more than 40% of its Net Asset Value in emerging market countries including Russia. However, no more than 20% of the Sub-
Fund’s Net Asset Value will be invested in securities
listed or traded in Russia and the Ukraine. The Sub-Fund
may only invest in Russian securities which are traded on the Moscow Exchange. In considering investments in emerging markets, the Investment Manager will explicitly exclude companies which are included on international and other sanctions lists. The Sub-Fund may also hold high levels of cash, money market instruments such as commercial paper and fixed or floating rate government bonds and cash equivalents such as certificates of deposit and short-dated debt instruments in certain circumstances. Such circumstances include where the Investment Manager believes markets are overvalued, where market conditions may require a defensive investment strategy, the holding of cash on deposit pending reinvestment or to meet redemptions and payment of expenses or in order to provide collateral to support FDI exposure.
With the exception of permitted investment in unlisted securities and open-ended CIS, the Sub-Fund’s investments in securities and FDIs will be listed or traded
on Eligible Markets listed in Appendix II of the Prospectus.
The Sub-Fund may also invest up to 10% of its Net Asset Value in Debt and Debt-Related Securities in the People’s Republic of China (“PRC”) traded in the China interbank bond market (“CIBM”) via Bond Connect (as further described Appendix VI to the Prospectus.)
Methods of gaining exposure to Chinese securities may include purchasing China A-shares via the Stock Connect. The Sub-Fund may invest up to 10% of its Net Asset Value in China A-shares via the Stock Connect. Further details about the Stock Connect are set out in Appendix V to the Prospectus.
The Sub-Fund may invest up to 10% of its Net Asset Value in Structured Notes.

##### Benchmark
60% MSCI AC World NR Index, 40% JP Morgan Global GBI Unhedged TR Index (the “Blended Benchmark”).
MSCI All Countries World Index covers most of the global investable equity opportunity set and is a comprehensive indicator of the performance of the global equity-market.
The JP Morgan Global Bond Index (GBI) USD is an index for fixed rate government debt. The index measures the total return from investing in a number of developed government bond markets.
The Sub-Fund will measure its performance against the Blended Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest
outside the Blended Benchmark subject to the investment objective and policy. While the Sub-Fund’s holdings may include constituents of the Blended
Benchmark, the selection of investments and their weightings in the portfolio are not influenced by the Blended Benchmark. The investment strategy does not restrict the extent to which the Investment Manager may deviate from the Blended Benchmark.

##### Investment Strategy
The Sub-Fund is an unconstrained global multi-asset portfolio. Allocations will be made at the Investment
Manager’s discretion across the asset classes described
above. There is no geographical, industry or sector focus
in relation to the asset classes to which exposure may be taken. The Sub-Fund therefore has the ability to invest 100% in equity and equity-related instruments, 100% in Debt and Debt-Related Securities or any mixture of all of the asset classes described above under the heading
“Investment Policy”.
The Investment Manager believes that no company, market or economy can be considered in isolation; each must be understood in a global context. The Investment Manager believes that events occurring around the world influence all financial markets and therefore successful investment in internationally diversified securities requires a thorough understanding of the world as a whole.
The Investment Manager’s investment process uses a combination of investment themes, fundamental analysis
and security valuation. Themes seek to identify the major areas of structural change in the world, providing context to investment analysis and decision making, helping the Investment Manager identify areas of potential opportunity and risk both at the asset class and security level. Fundamental analysis and consideration of security
valuations by the Investment Manager then helps to determine a list of potential investments for the Sub- Fund. When investing in securities, the portfolio manager will consider the impact of these investments on the
Sub-Fund’s overall construction, such as asset class
exposures, the size of each security position and the
investment risk characteristics of the securities themselves.

##### The Sustainable Finance Disclosure Regulation
The consideration of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively impacted by
an ESG event or condition (“ESG Event”).
The Investment Manager has access to a variety of ESG- related data points provided by third party data which assists with the identification of potential ESG-related issues that an issuer may be facing. This includes but is not limited to exposure to activities that may be deemed harmful to the environment or society. This data, along
with data from the Investment Manager’s own proprietary
responsible investment research resources, forms a central part of the Investment Manager’s consideration and assessment of the level of sustainability risk that an
investment may be subject to.
This assessment is integrated in to the security level research process, which is based upon fundamental analysis of individual investment opportunities across a number of different factors including:
- Fundamental financial or economic characteristics
- Valuation
- Risk/reward profile
- The ESG characteristics of the issuer, including understanding how such considerations can impact economic returnsThe information gathered from the fundamental analysis conducted will be taken into account by the Investment Manager in deciding whether to acquire a holding in an issuer or continue to hold a position.

As explained above, the assessment and management of sustainability risks forms an important part of the
Investment Manager’s due diligence process, however,
there may still be a risk that the value of the Sub-Fund
could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical
reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Options | Currency Options (including FX Options) Options on Government Bond Futures Bond Options Equity Options (single name, index, sector, custom basket) Options on Equity Futures Options on Volatility indices Swaptions |
| --- | --- |
| Futures | Futures on Currencies and Options on Currency Futures Equity Futures or Futures on Equity Indices Futures on Government Bonds Futures on Volatility Indices |
| Swaps | Total Return Swaps (single name, credit, index and custom basket) Equity/Equity Index/Sector Swaps Credit Default Swaps (single name, index and custom basket) Interest Rate Swaps |
| Forwards | Forward Foreign Exchange Contracts |
| Securities with Em- bedded FDI/ Leverage | Warrants Convertible Bonds Contingent Convertible Securities (CoCos) Asset-Backed Securities (ABS) Mortgage-Backed Securities (MBS) Structured Notes |
| Other instru- ments | Low exercise price options (LEPOs) and Low exercise price warrants (LEPWs) Contracts for difference (CFD) |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub- Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit iTraxx CDS Index |

| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Equity indices to provide exposure to regional and global equity markets in a more cost effective or efficient manner than buying the physical securities. | Borsa Istanbul 30 Dax 30 Index Euro Stoxx 50 Index FTSE 100 Index FTSE All Share Index FTSE World Index Hang Seng Index KOSPI Index |
|  | MDAX Index MSCI All Countries World Index MSCI Emerging Markets Index Nasdaq Composite Index Nikkei 225 Index Russell 2000 Index S&P/ASX 200 Index S&P/TSX Composite Index S&P 500 Index Stoxx Europe 600 Index |
|  | Stoxx Europe Small 200 |
| Volatility indices to provide exposure express the Investment Manager’s view on the volatility of a particular market or currency in a more cost effective or efficient manner than buying the physical securities. | Chicago Board Options Exchange SPX Volatility Index |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. The remaining financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX–Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where additional information can be found, will be set out in the
Company’s semi-annual and annual accounts.

##### Long and Short Positions
The Sub-Fund may employ synthetic long and synthetic short exposures in each of the asset classes referenced in the Investment Policy to achieve its investment objective. The total net long exposure (after taking account of hedging) through FDI is not expected to exceed 100% of the Net Asset Value of the Sub-Fund and the total net short exposure is not expected to exceed 100% of the Net Asset Value of the Sub-Fund (using the commitment approach).

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 100% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in SFTs, i.e. securities lending arrangements and
repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 100% and in respect of SFTs shall be 100% of the Net Asset Value of the Sub-Fund. However, the Investment Manager does not anticipate that the Sub-
Fund’s exposure in respect of TRS will exceed 30% and in
respect of SFTs will exceed 15% of the Net Asset Value
of the Sub-Fund. The types of assets that will be subject to TRS and SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on TRS and SFTs, including acceptable
collateral and counterparty procedure is given under the headings “Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be issued during their respective Initial Offer Periods at their
respective initial offer price per Share of 1USD, 1£, 1€,
1CAD or 1CHF depending on the currency of the relevant
class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will
normally be paid on or before 11 February. Further details are set out under the heading “The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Global Multi-Asset Income Fund

### SUPPLEMENT 38 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
This Sub-Fund was closed by way of compulsory redemption whereby all of the Shares in issue in the Sub- Fund as of 18 March 2021, were compulsorily redeemed. Shares in the Sub-Fund are no longer available for investment. The Company intends to apply to the Central
Bank to revoke the Sub-Fund’s approval following the
preparation of the audited financial statements for the
year ended 31 December 2021. The Company shall seek approval from the Central Bank to remove the Sub-Fund from this Prospectus following approval of that revocation.
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise financial derivative instruments (“FDI”) for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- It is proposed to charge management fees and other fees and expenses of the Sub-Fund to the capital of the Sub-Fund to seek to maximise distributions. See “Fees and Expenses” in the Prospectus for further details.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.
- The Sub-Fund may, in exceptional circumstances, invest substantially in deposits with credit institutions. Although the Sub-Fund may invest in money market instruments and cash deposits, Shares in the Sub-Fund are not deposits and are different in nature to a deposit in that the investment is not guaranteed and the value of the investment is capable of fluctuation. Investment in the Sub-Fund involves certain investment risks, including the possible loss of principal.


#### The Investment Manager
Newton Investment Management Limited

#### Base Currency
Euro

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| Euro A (Inc.) | EUR | up to 5% | EUR 5,000 | 1.50% | None |
| Euro A (Acc.) | EUR | up to 5% | EUR 5,000 | 1.50% | None |
| USD A (Inc.) | USD | up to 5% | USD 5,000 | 1.50% | None |
| USD A (Acc.) | USD | up to 5% | USD 5,000 | 1.50% | None |
| Sterling A (Inc.) | GBP | up to 5% | GBP 5,000 | 1.50% | None |
| Sterling A (Acc.) | GBP | up to 5% | GBP 5,000 | 1.50% | None |

| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| CAD A (Acc.) | CAD | up to 5% | CAD 5,000 | 1.50% | None |
| CAD A (Inc.) | CAD | up to 5% | CAD 5,000 | 1.50% | None |
| AUD A (Acc.) | AUD | up to 5% | AUD 5,000 | 1.50% | None |
| AUD A (Inc.) | AUD | up to 5% | AUD 5,000 | 1.50% | None |
| HKD A (Acc.) | HKD | up to 5% | HKD 50,000 | 1.50% | None |
| HKD A (Inc.) | HKD | up to 5% | HKD 50,000 | 1.50% | None |
| SGD A (Acc.) | SGD | up to 5% | SGD 5,000 | 1.50% | None |
| SGD A (Inc.) | SGD | up to 5% | SGD 5,000 | 1.50% | None |
| CNH A (Acc.) | CNH | up to 5% | CNH 50,000 | 1.50% | None |
| CNH A (Inc.) | CNH | up to 5% | CNH 50,000 | 1.50% | None |
| USD H (Inc.) (hedged) | USD | up to 5% | USD 5,000 | 1.50% | None |
| USD H (Acc.) (hedged) | USD | up to 5% | USD 5,000 | 1.50% | None |
| Sterling H (Inc.) (hedged) | GBP | up to 5% | GBP 5,000 | 1.50% | None |
| Sterling H (Acc.) (hedged) | GBP | up to 5% | GBP 5,000 | 1.50% | None |
| CAD H (Acc.) (hedged) | CAD | up to 5% | CAD 5,000 | 1.50% | None |
| CAD H (Inc.) (hedged) | CAD | up to 5% | CAD 5,000 | 1.50% | None |
| AUD H (Acc.) (hedged) | AUD | up to 5% | AUD 5,000 | 1.50% | None |
| AUD H (Inc.) (hedged) | AUD | up to 5% | AUD 5,000 | 1.50% | None |
| HKD H (Acc.) (hedged) | HKD | up to 5% | HKD 50,000 | 1.50% | None |
| HKD H (Inc.) (hedged) | HKD | up to 5% | HKD 50,000 | 1.50% | None |
| SGD H (Acc.) (hedged) | SGD | up to 5% | SGD 5,000 | 1.50% | None |
| SGD H (Inc.) (hedged) | SGD | up to 5% | SGD 5,000 | 1.50% | None |
| CNH H (Acc.) (hedged) | CNH | up to 5% | CNH 50,000 | 1.50% | None |
| CNH H (Inc.) (hedged) | CNH | up to 5% | CNH 50,000 | 1.50% | None |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| Euro C (Inc.) | EUR | up to 5% | EUR 5,000,000 | 1.00% | None |
| Euro C (Acc.) | EUR | up to 5% | EUR 5,000,000 | 1.00% | None |
| USD C (Inc.) | USD | up to 5% | USD 5,000,000 | 1.00% | None |
| USD C (Acc.) | USD | up to 5% | USD 5,000,000 | 1.00% | None |
| Sterling C (Inc.) | GBP | up to 5% | GBP 5,000,000 | 1.00% | None |
| Sterling C (Acc.) | GBP | up to 5% | GBP 5,000,000 | 1.00% | None |
| CHF C (Inc.) | CHF | up to 5% | CHF 5,000,000 | 1.00% | None |
| CHF C (Acc.) | CHF | up to 5% | CHF 5,000,000 | 1.00% | None |
| USD I (Acc.) (hedged) | USD | up to 5% | USD 5,000,000 | 1.00% | None |
| USD I (Inc.) (hedged) | USD | up to 5% | USD 5,000,000 | 1.00% | None |
| Sterling I (Inc.) (hedged) | GBP | up to 5% | GBP 5,000,000 | 1.00% | None |
| Sterling I (Acc.) (hedged) | GBP | up to 5% | GBP 5,000,000 | 1.00% | None |
| CHF I (Inc.) (hedged) | CHF | up to 5% | CHF 5,000,000 | 1.00% | None |
| CHF I (Acc.) (hedged) | CHF | up to 5% | CHF 5,000,000 | 1.00% | None |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| USD G (Acc.) | USD | up to 5% | USD 5,000 | 1.00% | None |
| USD G (Inc.) | USD | up to 5% | USD 5,000 | 1.00% | None |
| Euro G (Acc.) | EUR | up to 5% | EUR 5,000 | 1.00% | None |

| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| Euro G (Inc.) | EUR | up to 5% | EUR 5,000 | 1.00% | None |
| Sterling G (Acc.) | GBP | up to 5% | GBP 5,000 | 1.00% | None |
| Sterling G (Inc.) | GBP | up to 5% | GBP 5,000 | 1.00% | None |
| USD G (Acc.) (hedged) | USD | up to 5% | USD 5,000 | 1.00% | None |
| USD G (Inc.) (hedged) | USD | up to 5% | USD 5,000 | 1.00% | None |
| Sterling G (Acc.) (hedged) | GBP | up to 5% | GBP 5,000 | 1.00% | None |
| Sterling G (Inc.) (hedged) | GBP | up to 5% | GBP 5,000 | 1.00% | None |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| Euro W (Acc.) | EUR | up to 5% | EUR 15,000,000 | 0.75% | None |
| Euro W (Inc.) | EUR | up to 5% | EUR 15,000,000 | 0.75% | None |
| USD W (Acc.) | USD | up to 5% | USD 15,000,000 | 0.75% | None |
| USD W (Inc.) | USD | up to 5% | USD 15,000,000 | 0.75% | None |
| Sterling W (Acc.) | GBP | up to 5% | GBP 15,000,000 | 0.75% | None |
| Sterling W (Inc.) | GBP | up to 5% | GBP 15,000,000 | 0.75% | None |
| CHF W (Acc.) | CHF | up to 5% | CHF 15,000,000 | 0.75% | None |
| CHF W (Inc.) | CHF | up to 5% | CHF 15,000,000 | 0.75% | None |
| CAD W (Acc.) | CAD | up to 5% | CAD 15,000,000 | 0.75% | None |
| CAD W (Inc.) | CAD | up to 5% | CAD 15,000,000 | 0.75% | None |
| AUD W (Acc.) | AUD | up to 5% | AUD 15,000,000 | 0.75% | None |
| AUD W (Inc.) | AUD | up to 5% | AUD 15,000,000 | 0.75% | None |
| HKD W (Acc.) | HKD | up to 5% | HKD 150,000,000 | 0.75% | None |
| HKD W (Inc.) | HKD | up to 5% | HKD 150,000,000 | 0.75% | None |
| SGD W (Acc.) | SGD | up to 5% | SGD 15,000,000 | 0.75% | None |
| SGD W (Inc.) | SGD | up to 5% | SGD 15,000,000 | 0.75% | None |
| CNH W (Acc.) | CNH | up to 5% | CNH 150,000,000 | 0.75% | None |
| CNH W (Inc.) | CNH | up to 5% | CNH 150,000,000 | 0.75% | None |
| USD W (Acc.) (hedged) | USD | up to 5% | USD 15,000,000 | 0.75% | None |
| USD W (Inc.) (hedged) | USD | up to 5% | USD 15,000,000 | 0.75% | None |
| Sterling W (Acc.) (hedged) | GBP | up to 5% | GBP 15,000,000 | 0.75% | None |
| Sterling W (Inc.) (hedged) | GBP | up to 5% | GBP 15,000,000 | 0.75% | None |
| CHF W (Acc.) (hedged) | CHF | up to 5% | CHF 15,000,000 | 0.75% | None |
| CHF W (Inc.) (hedged) | CHF | up to 5% | CHF 15,000,000 | 0.75% | None |
| CAD W (Acc.) (hedged) | CAD | up to 5% | CAD 15,000,000 | 0.75% | None |
| CAD W (Inc.) (hedged) | CAD | up to 5% | CAD 15,000,000 | 0.75% | None |
| AUD W (Acc.) (hedged) | AUD | up to 5% | AUD 15,000,000 | 0.75% | None |
| AUD W (Inc.) (hedged) | AUD | up to 5% | AUD 15,000,000 | 0.75% | None |
| HKD W (Acc.) (hedged) | HKD | up to 5% | HKD 150,000,000 | 0.75% | None |
| HKD W (Inc.) (hedged) | HKD | up to 5% | HKD 150,000,000 | 0.75% | None |
| SGD W (Acc.) (hedged) | SGD | up to 5% | SGD 15,000,000 | 0.75% | None |
| SGD W (Inc.) (hedged) | SGD | up to 5% | SGD 15,000,000 | 0.75% | None |
| CNH W (Acc.) (hedged) | CNH | up to 5% | CNH 150,000,000 | 0.75% | None |
| CNH W (Inc.) (hedged) | CNH | up to 5% | CNH 150,000,000 | 0.75% | None |

| “E” Shares and “E (hedged)” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| Euro E (Acc.) | EUR | up to 5% | As Agreed | 0.25% | None |
| Euro E (Inc.) | EUR | up to 5% | As Agreed | 0.25% | None |
| USD E (Acc.) | USD | up to 5% | As Agreed | 0.25% | None |
| USD E (Inc.) | USD | up to 5% | As Agreed | 0.25% | None |
| Sterling E (Acc.) | GBP | up to 5% | As Agreed | 0.25% | None |
| Sterling E (Inc.) | GBP | up to 5% | As Agreed | 0.25% | None |
| CHF E (Acc.) | CHF | up to 5% | As Agreed | 0.25% | None |
| CHF E (Inc.) | CHF | up to 5% | As Agreed | 0.25% | None |
| USD E (Acc.) (hedged) | USD | up to 5% | As Agreed | 0.25% | None |
| USD E (Inc.) (hedged) | USD | up to 5% | As Agreed | 0.25% | None |
| Sterling E (Acc.) (hedged) | GBP | up to 5% | As Agreed | 0.25% | None |
| Sterling E (Inc.) (hedged) | GBP | up to 5% | As Agreed | 0.25% | None |
| CHF E (Acc.) (hedged) | CHF | up to 5% | As Agreed | 0.25% | None |
| CHF E (Inc.) (hedged) | CHF | up to 5% | As Agreed | 0.25% | None |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| Euro X (Acc.) | EUR | None | None | None | None |
| Euro X (Inc.) | EUR | None | None | None | None |
| USD X (Acc.) | USD | None | None | None | None |
| USD X (Inc.) | USD | None | None | None | None |
| Sterling X (Acc.) | GBP | None | None | None | None |
| Sterling X (Inc.) | GBP | None | None | None | None |
| USD X (Acc.) (hedged) | USD | None | None | None | None |
| USD X (Inc.) (hedged) | USD | None | None | None | None |
| Sterling X (Acc.) (hedged) | GBP | None | None | None | None |
| Sterling X (Inc.) (hedged) | GBP | None | None | None | None |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to provide income with the potential for capital growth over the longer term.

##### Investment Policy
The Sub-Fund is an income focused global multi-asset fund that aims to achieve its objective through an active and flexible asset allocation.
The Sub-Fund may invest in equity and equity-related securities (common and preferred stock, American depositary receipts and global depository receipts, securities convertible into or exchangeable for such
equities, warrants and stock purchase rights) and equity- related FDIs as listed in the section entitled “Use of FDI” below.
The Sub-Fund may also invest in debt and debt-related securities (debentures, deposits, notes including corporate, sovereign, floating and fixed rate notes with a minimum term of one year or more, asset-backed securities (ABS), mortgage-backed securities (MBS), and bonds which may be fixed or floating rate and are issued
or guaranteed by any sovereign government or their agencies, local authority, supranational or public international bodies, banks, corporates or other
commercial issuers, (hereinafter “Debt and Debt-Related Securities”) and in debt FDIs as listed in the section entitled “Use of FDI” below.
The Sub-Fund may invest up to 10% of its Net Asset Value in CoCos. Please see “Contingent Convertible Securities (CoCos) Risk” in the Prospectus for details of the risks associated with CoCos.
Debt and Debt-Related Securities held by the Sub-Fund may be investment grade quality, sub investment grade quality or unrated. The Investment Manager considers sub investment grade securities to be those which have a credit rating of lower than BBB- at the date of purchase as rated by a Recognised Rating Agency. The Sub-Fund may invest more than 30% of its Net Asset Value in below investment grade Debt and Debt-Related Securities.
The Sub-Fund may invest more than 10% and up to 35% of the Sub-Fund’s Net Asset Value in Debt and Debt- Related Securities issued and/or guaranteed by a single
sovereign issuer (including its government, public or local authority) which is below investment grade (i.e. BB+ or
below) as rated by a Recognised Rating Agency. Examples of such sovereign issuers are Brazil, Indonesia and Hungary. Such investments are based on the professional judgement of the Investment Manager, whose reasons for investment may include a favourable/positive outlook on the sovereign issuer, potential for ratings upgrade and the expected changes in the value of such investments due to the ratings changes. Please note the ratings of sovereign issuers may change from time to time and the abovementioned sovereigns are named only for reference and are subject to change as their ratings change.
The Sub-Fund may also invest in commodities, property and infrastructure through collective investment schemes
(“CIS”), securities listed or traded on Eligible Markets such as listed real estate investment trusts (“REITS”) and ETFs. The Sub-Fund may invest up to 10% of its Net
Asset Value in aggregate in CIS including money market funds.
The Sub-Fund may invest on a global basis. The Sub- Fund may invest more than 40% its Net Asset Value in
emerging market countries including Russia. However, no more than 20% of the Sub-Fund’s Net Asset Value will be invested in securities listed or traded in Russia. The Sub-
Fund may only invest in Russian securities which are traded on the Moscow Exchange.
The Sub-Fund may also temporarily hold high levels (i.e. up to 100% of its Net Asset Value) of cash, money market instruments such as commercial paper and fixed or floating rate government bonds and cash equivalents such as certificates of deposit and short-dated debt instruments in certain circumstances for cash flow management. Such circumstances include where the Investment Manager believes markets are overvalued, where market conditions may require a defensive investment strategy (e.g. market crash or major crisis), the holding of cash on deposit pending reinvestment or to meet redemptions and payment of expenses or in order to provide collateral to support FDI exposure.
With the exception of permitted investment in unlisted securities and open-ended CIS, the Sub-Fund’s investments in securities and FDIs will be listed or traded
on Eligible Markets listed in Appendix II of the Prospectus.
The Sub-Fund may also invest up to 10% of its Net Asset Value in Debt and Debt-Related Securities in the People’s Republic of China (“PRC”) traded in the China interbank bond market (“CIBM”) via Bond Connect (as further described Appendix VI to the Prospectus.)
The Sub-Fund may invest up to 10% of its Net Asset Value in Structured Notes.

##### Benchmark
60% MSCI AC World NR Index, 40% ICE Bank of America Merrill Lynch Global Broad Market TR Index (hedged to
Euro) (the “Blended Benchmark”).
The MSCI AC World index captures large and mid cap representation across 23 Developed Markets and 24 Emerging Markets countries. With over 2,000 constituents, the index covers approximately 85% of the global investable equity opportunity set. The index implements a comprehensive and consistent approach to index construction that allows for meaningful global views and cross regional comparisons across all market capitalization size, sector and style segments and combinations. This methodology aims to provide
exhaustive coverage of the relevant investment opportunity set with a strong emphasis on index liquidity,
investability and replicability. The Index is reviewed quarterly in February, May, August and November—with the objective of reflecting change in the underlying equity
markets in a timely manner, while limiting undue index turnover.
The ICE Bank of America Merrill Lynch Global Broad Market Index tracks the performance of investment grade debt publicly issued in the major domestic and Eurobond markets, including sovereign, quasi-government, corporate, securitized and collateralized securities.
The Sub-Fund will measure its income generation against the Blended Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest
outside the Blended Benchmark subject to the investment objective and policy. While the Sub-Fund’s holdings may include constituents of the Blended
Benchmark, the selection of investments and their weightings in the portfolio are not influenced by the Blended Benchmark. The investment strategy does not restrict the extent to which the Investment Manager may deviate from the Blended Benchmark.

##### Investment Strategy
The Sub-Fund is an income focused global multi-asset
portfolio. As such, a significant proportion of the Sub- Fund’s assets will be invested in income generating securities. Allocations will be made at the Investment Manager’s discretion across the asset classes described
above. Whilst the Sub-Fund’s focus is on income
generation, there is no geographical, industry or sector
focus in relation to the asset classes to which exposure may be taken. The Sub-Fund therefore has the ability to invest 100% in equity and equity-related instruments, 100% in Debt and Debt-Related Securities or any mixture of all of the asset classes described above under the
heading “Investment Policy”. The asset allocation of the
Sub-Fund may change according to the Investment Manager’s views of fundamental economic and market conditions and investment trends across the globe,
taking into consideration factors such as liquidity, costs, timing of execution, relative attractiveness of individual securities and issuers available in the market.
The Investment Manager believes that no company, market or economy can be considered in isolation; each must be understood in a global context. The Investment Manager believes that events occurring around the world influence all financial markets and therefore successful investment in internationally diversified securities requires a thorough understanding of the world as a whole.
The Investment Manager’s investment process uses a combination of investment themes, fundamental analysis
and security valuation. Themes seek to identify the major areas of structural change in the world, providing context to investment analysis and decision making, helping the Investment Manager identify areas of potential opportunity and risk both at the asset class and security level. Fundamental analysis and consideration of security valuations by the Investment Manager then helps to determine a list of potential investments for the Sub- Fund. When investing in securities, the portfolio manager will consider the impact of these investments on the
Sub-Fund’s overall construction, such as asset class
exposures, the size of each security position and the investment risk and income characteristics of the securities themselves.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and over-the-counter FDI for investment purposes:
| Options | Currency Options (including FX Options) Options on Government Bond Futures Bond Options Equity Options (single name, index, sector, custom basket) Options on Equity Futures Options on Volatility indices Swaptions |
| --- | --- |
| Futures | Futures on Currencies and Options on Currency Futures Equity Futures or Futures on Equity Indices Futures on Government Bonds Futures on Volatility Indices |
| Swaps | Total Return Swaps Equity/Equity Index/Sector Swaps Credit Default Swaps Interest Rate Swaps |
| Forwards | Forward Foreign Exchange Contracts |
| Securities with Em- bedded FDI/ Leverage | Warrants Convertible Bonds Contingent Convertible Securities (CoCos) Asset-Backed Securities (ABS) Mortgage-Backed Securities (MBS) Structured Notes |
| Other instru- ments | Participatory Notes (including LEPOs and LEPWs) Contracts for difference (CFD) |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

##### Financial Indices
| Type of Indices | Name of Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit iTraxx CDS Index |
| Equity indices to provide | Dax 30 Index |
| exposure to regional and global | Euro Stoxx 50 Index |
| equity markets in a more cost | FTSE 100 Index |
| effective or efficient manner | FTSE All Share Index |
| than buying the physical | FTSE World Index |
| securities. | Hang Seng Index |
|  | KOSPI Index |
|  | MSCI All Countries World Index |
|  | MSCI Emerging Markets Index |
|  | Nasdaq Composite Index |
|  | Nikkei 225 Index |
|  | Russell 2000 Index |
|  | S&P/ASX 200 Index |
|  | S&P/TSX Composite Index |
|  | S&P 500 Index |
|  | Stoxx Europe 600 Index |

The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both efficient portfolio management (EPM) and investment purposes. The Sub- Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Volatility indices to provide exposure express the Investment Manager’s view on the volatility of a particular market or currency in a more cost effective or efficient manner than buying the physical securities. | Chicago Board Options Exchange SPX Volatility Index |
| --- | --- |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. The remaining financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX–Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where additional information can be found, will be set out in the
Company’s semi-annual and annual accounts.

##### Long and Short Positions
The Sub-Fund may employ synthetic long and synthetic short exposures in each of the asset classes referenced in the Investment Policy to achieve its investment objective. The total net long exposure (after taking account of hedging) through FDI is not expected to exceed 100% of the Net Asset Value of the Sub-Fund and the total net short exposure is not expected to exceed 100% of the Net Asset Value of the Sub-Fund (using the commitment approach).

#### Issue of Shares
The initial offering (the “Initial Offer Period”) for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall
continue until 30 April, 2021 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in each available unlaunched share classes will be issued during their respective Initial Offer Periods at
their respective initial offer price per Share of 1USD, 1£, 1€, 1CHF, 1CAD, 1AUD, 1SGD, 10HKD or 10CNH depending
on the currency of the relevant class (plus the sales
charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Repurchase of Shares
Shares in each class may be repurchased, at the option of the relevant Shareholder, on any Valuation Day at the Valuation Point. The Repurchase Price is the Net Asset Value per Share of that class calculated as at the Valuation Point less the applicable redemption fee.
All requests for the repurchase of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Investment and Borrowing Restrictions
The Sub-Fund’s investment and borrowing restrictions are set out under the heading “The Company - Investment and Borrowing Restrictions” in the Prospectus.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Absolute VaR
Absolute VaR Limit: Sub-Fund’s portfolio will not exceed 20% of the Net Asset Value (using a 20 Business Day holding period).
Gross leverage is expected to vary between: 0% to 750% of the Sub-Fund’s Net Asset Value. The gross leverage may exceed this target level at times.
For more information on the Absolute VaR approach and Gross Leverage, please see “The Company – Global Exposure and Leverage” section in the Prospectus.”

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise stocklending arrangements and repurchase/reverse repurchase agreements for efficient portfolio management (EPM) purposes, subject to the conditions and limits set out in
the Central Bank UCITS Regulations. Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of
techniques and FDI the Sub-Fund may use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in securities financing transactions (“SFTs”), i.e.
stocklending arrangements and repurchase/reverse
repurchase agreements, as described under the heading
“Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 100% and in respect of SFTs shall be 100% of the Net Asset Value of the Sub-Fund. However, the Investment Manager does not anticipate that the Sub-
Fund’s exposure in respect of TRS will exceed 30% and in
respect of SFTs will exceed 15% of the Net Asset Value
of the Sub-Fund. The types of assets that will be subject to TRS or SFTs will be of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on TRS and SFTs, including acceptable collateral and counterparty procedure is given under the
headings “Appendix III - Securities Financing
Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Stocklending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Share Class Hedging
This Sub-Fund offers hedged share classes. Such share classes are indicated by the suffix “(hedged)” Please see the section entitled “Share Class Hedging” in the Prospectus for further information on the operation and
impact of hedged share classes.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11 November respectively. Further details are set out under
the heading “The Company - Distribution Policy” in the
Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management fee payable to the Manager is set out under the heading “Share Classes” above.
The fees and expenses relating to the establishment and organisation of the Sub-Fund including the fees of the
Sub-Fund’s professional advisers will be borne by the
Sub-Fund. Such fees and expenses are estimated not to exceed €60,000 and will be borne by the Sub-Fund and will be amortised over a period of up to 5 years from the
date of the launch of the Sub-Fund.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Efficient U.S. High Yield Beta Fund

### SUPPLEMENT 39 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- It is proposed to charge management fees and other fees and expenses of the Sub-Fund to the capital of the Sub-Fund to seek to maximise distributions. See “Fees and Expenses” in the Prospectus for further details.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
Insight North America LLC

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD A (Acc.) | USD | 5,000 | 5% | 0.40% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 0.40% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 0.40% | 0% |
| Euro H (Acc.) (hedged) | EUR | 5,000 | 5% | 0.40% | 0% |
| Euro H (Inc.) (hedged) | EUR | 5,000 | 5% | 0.40% | 0% |
| Sterling H (Acc.) (hedged) | GBP | 5,000 | 5% | 0.40% | 0% |
| Sterling H (Inc.) (hedged) | GBP | 5,000 | 5% | 0.40% | 0% |
| CHF H (Acc.) (hedged) | CHF | 5,000 | 5% | 0.40% | 0% |
| CHF H (Inc.) (hedged) | CHF | 5,000 | 5% | 0.40% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 0.30% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 0.30% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| Euro G (Acc.) (hedged) | EUR | 5,000 | 5% | 0.30% | 0% |
| Euro G (Inc.) (hedged) | EUR | 5,000 | 5% | 0.30% | 0% |
| Sterling G (Acc.) (hedged) | GBP | 5,000 | 5% | 0.30% | 0% |
| Sterling G (Inc.) (hedged) | GBP | 5,000 | 5% | 0.30% | 0% |
| CHF G (Acc.) (hedged) | CHF | 5,000 | 5% | 0.30% | 0% |
| CHF G (Inc.) (hedged) | CHF | 5,000 | 5% | 0.30% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD C (Acc.) | USD | 5,000,000 | 5% | 0.30% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 0.30% | 0% |
| Euro C (Acc.) | EUR | 5,000,000 | 5% | 0.30% | 0% |
| Euro I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 0.30% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 0.30% | 0% |
| Sterling I (Acc.) (hedged) | GBP | 5,000,000 | 5% | 0.30% | 0% |
| Sterling I (Inc.) (hedged) | GBP | 5,000,000 | 5% | 0.30% | 0% |
| CHF I (Acc.) (hedged) | CHF | 5,000,000 | 5% | 0.30% | 0% |
| CHF I (Inc.) (hedged) | CHF | 5,000,000 | 5% | 0.30% | 0% |
| CAD I (Acc.) (hedged) | CAD | 5,000,000 | 5% | 0.30% | 0% |
| CAD I (Inc.) (hedged) | CAD | 5,000,000 | 5% | 0.30% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.20% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.20% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.20% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.20% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.20% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.20% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.20% | 0% |
| CHF W (Inc.) (hedged) | CHF | 15,000,000 | 5% | 0.20% | 0% |
| CAD W (Acc.) (hedged) | CAD | 15,000,000 | 5% | 0.20% | 0% |
| CAD W (Inc.) (hedged) | CAD | 15,000,000 | 5% | 0.20% | 0% |

| “K” Shares and “K (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD K (Acc.) | USD | As agreed | 5% | 0.30% | 0% |
| Euro K (Acc.) (hedged) | EUR | As agreed | 5% | 0.30% | 0% |

| “E” Shares and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD E (Acc.) | USD | As agreed | 5% | 0.10% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| USD E (Inc.) | USD | As agreed | 5% | 0.10% | 0% |
| Euro E (Acc.) (hedged) | EUR | As agreed | 5% | 0.10% | 0% |
| Euro E (Inc.) (hedged) | EUR | As agreed | 5% | 0.10% | 0% |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.10% | 0% |
| Sterling E (Inc.) (hedged) | GBP | As agreed | 5% | 0.10% | 0% |
| CHF E (Acc.) (hedged) | CHF | As agreed | 5% | 0.10% | 0% |
| CHF E (Inc.) (hedged) | CHF | As agreed | 5% | 0.10% | 0% |
| CAD E (Acc.) (hedged) | CAD | As agreed | 5% | 0.10% | 0% |
| CAD E (Inc.) (hedged) | CAD | As agreed | 5% | 0.10% | 0% |

| “L” Shares and “L (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD L (Acc.) | USD | As agreed | 5% | 0.16% | 0% |
| USD L (Inc.) | USD | As Agreed | 5% | 0.16% | 0% |
| Euro L (Acc.) (hedged) | EUR | As agreed | 5% | 0.16% | 0% |
| Euro L (Inc.) (hedged) | EUR | As agreed | 5% | 0.16% | 0% |
| Sterling L (Inc.) (hedged) | GBP | As agreed | 5% | 0.16% | 0% |
| Sterling L (Acc.) (hedged) | GBP | As agreed | 5% | 0.16% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| Euro X (Acc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Sterling X (Acc.) (hedged) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) (hedged) | GBP | None | 0% | 0% | 0% |
| CHF X (Acc.) (hedged) | CHF | None | 0% | 0% | 0% |
| CHF X (Inc.) (hedged) | CHF | None | 0% | 0% | 0% |
| CAD X (Acc.) (hedged) | CAD | None | 0% | 0% | 0% |
| CAD X (Inc.) (hedged) | CAD | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to provide similar performance and levels of volatility as the benchmark detailed below over the medium to long-term before fees and expenses.

##### Investment Policy
The Sub-Fund aims to achieve its investment objective by gaining diversified exposure to securities with similar credit and maturity characteristics as that of the
Bloomberg Barclays U.S. Corporate High Yield Bond TR Index (the “Benchmark”) by investing in bonds, treasury bills, debentures, certificates of deposit, commercial
paper, term deposits and private placements (i.e. Reg S bonds and 144A bonds) (hereinafter “Debt and Debt-
Related Securities”) and in FDI. The remaining assets may be invested in cash and liquid near cash assets as further detailed in “Cash and Collateral Management” below.
The Sub-Fund will invest in Debt and Debt-Related Securities which may be fixed or floating rate and issued or guaranteed by any corporate or other commercial issuer included in the Benchmark. The Investment Manager expects to mainly invest in Debt and Debt- Related Securities issued by issuers having their registered officer in the U.S. or exercising the preponderant part of their economic activity in the U.S.
(‘U.S. Issuers’) however the Sub-Fund may also invest in
Debt and Debt-Related Securities issued by non-U.S.
Issuers where such issuers are included in the Benchmark. The Debt and Debt-Related Securities
invested in by the Sub-Fund shall be primarily below investment grade securities as rated by a Recognised Rating Agency at time of purchase.
The Sub-Fund may have exposure of up to 10% of its Net Asset Value to contingent convertible securities (“CoCos”). Please see “Contingent Convertible Securities (CoCos) Risk” in the Prospectus for details of the risks associated with CoCos.
The Sub-Fund will primarily invest directly in the underlying Debt and Debt-Related Securities included in Benchmark but will also, on an ancillary basis, gain
exposure indirectly to the constituents of the Benchmark via Credit Default Swaps (“CDS”) indices as described in the Financial Indices section below and collective investment schemes (“CIS”).
The Sub-Fund may invest up to 10% of its Net Asset
Value in CIS including open-ended exchange traded funds (“ETFs”) and money market funds.
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in transferable securities including but not limited to money market instruments and Debt and Debt-Related Securities which are not admitted to or dealt in on an Eligible Market, in accordance with the UCITS Regulations. With the exception of permitted investment in unlisted securities and open-ended CIS, the Sub-Fund will invest in assets including FDI listed or traded on the Eligible Markets listed in Appendix II of the Prospectus.

##### Cash and Collateral Management
The Sub-Fund may also hold cash and liquid near cash assets in certain circumstances. Such circumstances include where market conditions may require a defensive investment strategy, the holding of cash on deposit pending reinvestment, to meet redemptions, to facilitate payment of expenses and to provide collateral to support FDI exposure.
Liquid near cash assets may include Debt and Debt- Related Securities and instruments, obligations, treasury bills, certificates of deposit, floating rate notes and commercial paper, which may be fixed or floating rate and are issued or guaranteed by any sovereign government or their agencies, local authority, supranational or public international bodies, banks, corporates or other commercial issuers and may have maturities longer than 1 year. It is intended that issuers and/or guarantors of any such securities and instruments will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a Recognised Rating Agency, or will be deemed by the Investment Manager to be of equivalent quality.

##### Benchmark
Bloomberg Barclays U.S. Corporate High Yield TR Index (the "Benchmark")
The Benchmark represents the broad U.S. Dollar denominated, high yield, fixed-rate corporate bond market. The Sub-Fund will mainly provide exposure to
U.S. Issuers within the Benchmark and will invest directly in the constituents of the Benchmark and indirectly though FDI.
The Sub-Fund will measure its performance against the Benchmark.
The Investment Manager will use the Benchmark to construct the investment universe. The Sub-Fund is actively managed and does not seek to replicate the full constituents of the Benchmark. The Investment Manager has limited discretion to invest outside the Benchmark subject to the investment objective and policy.
The majority of the Sub-Fund’s holdings will be constituents of the Benchmark and as a result the Sub-
Fund will be similar in its currency and sector exposures as well as the maturity and credit quality profile.
The investment strategy restricts the extent to which the portfolio holdings may deviate from the Benchmark and consequently the extent to which it can outperform the Benchmark. The investment strategy provides similar volatility to the benchmark over the medium to long- term.

##### Investment Strategy
A top-down approach is used to construct a portfolio based on the Benchmark which provides “efficient beta”. ‘Beta’ refers to gaining market exposure while ‘efficient’ refers to achieving the ‘beta’ though the Investment Manager’s considered and cost-effective investment
decisions and strategies.
In the portfolio construction process, a selection of Debt and Debt-Related Securities will be chosen by identifying the yield/spread, risk, sector and quality characteristics of the constituents of the Benchmark and selecting Debt and Debt-Related Securities such that the aggregate metrics yield/spread, risk, sector and quality of the Sub-
Fund’s holdings and its beta are closely matched with
that of the Benchmark.
The application of the Investment Manager’s proprietary credit model refines the security selection process. This
credit model scores and ranks the investable universe by gathering information from financial markets and corporate balance sheets to help identify the appropriate value that a Debt or Debt-related Security is expected to trade at and incorporates fundamental indicators such as earnings quality (gross margin and profitability) and earnings revisions. The Investment Manager incorporates the information from the credit model in the asset selection process and in its ongoing monitoring of the investable universe. In this way the model helps the Investment Manager to identify Debt and Debt-Related Securities with a higher probability of downgrade, default
or underperformance relative to the Benchmark. The Investment Manager will then ensure that the Sub-Fund’s exposure to such Debt and Debt-Related Securities will
be the same or less than such Debt and Debt-Related Securities’ weight in the Benchmark.
The Investment Manager will look to employ efficient turnover strategies to manage the portfolio in a cost effective manner, for example, the Investment Manager may hold bonds that no longer are included in the Benchmark, but where selling these would incur unnecessary trading costs. While the Investment Manager seeks to provide a return which reflects the Benchmark over the medium to long-term, it does not seek to track the Benchmark on a day-to-day basis. This means the Investment Manager does not focus on the tracking error of the Sub-Fund against the Benchmark and does not take any actions intended to minimise the tracking error. Rather, by combining strategies which address
inefficiencies of the Benchmark the Investment Manager seeks to deliver an efficient beta investment solution for investors.

##### The Sustainable Finance Disclosure Regulation
Due to the investment objective of this Sub-Fund, the Investment Manager has limited discretion to deviate from the characteristics and exposures of the Benchmark. This discretion allows the Investment Manager, for instance, to invest in securities not included in the Benchmark where such securities meet the requirements of, and are expected to be included in the Benchmark in the future and to continue to hold securities which were included in the Benchmark at the time of purchase, even if they are subsequently removed from the Benchmark. The Benchmark does not take ESG factors or sustainability risks into account. Consequently, the Investment Manager does not integrate sustainability risks (which is defined as an ESG event or condition that, if it occurs, could cause an actual or a potential material negative impact on the value of the relevant investment
(an “ESG Event”) into its investment decisions. However,
due to the diversified nature of the Sub-Fund, the
Investment Manager has determined that the sustainability risk faced by the Sub-Fund is minimal.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Bond Futures |
| --- | --- |
| Swaps | Credit Default Swaps (CDS) |
| Securities with Embedded FDI/Leverage | Contingent Convertible Securities (CoCos) |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial
purpose, are described in the Prospectus in the section entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub-Fund utilises the following financial indices for investment purposes, where it is more efficient to do so or in circumstances in which the Sub-Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to U.S. fixed income markets in a more cost effective or efficient manner than buying the physical securities. | IHS Markit CDX North American High Yield |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically will not be rebalanced regularly. However, as the Sub- Fund does not aim to replicate or track these indices it will not be directly impacted by the indices rebalancing, associated costs or any stock weighting which would exceed the permitted investment restrictions.
Details on where to find additional information on the indices named above are provided in ‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market they represent and where additional information can be found, will be set out in the
Company’s semi-annual and annual accounts.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 100% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. securities lending
arrangements and repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of
SFTs shall be 100% of the Net Asset Value of the Sub- Fund. However, it is not anticipated that the Sub-Fund’s exposure to the SFTs will exceed 15% of the Net Asset
Value of the Sub-Fund. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1£, 1€, 1CHF or 1CAD depending on the currency of the relevant
class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11 November respectively. Further details are set out under
the heading “The Company - Distribution Policy” in the
Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors’ attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Emerging Markets Debt Total Return Fund

### SUPPLEMENT 40 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- Management fees and other fees and expenses of the Sub-Fund will be charged to the capital of the Sub-Fund to seek to maximise distributions. See “Fees and Expenses” in the Prospectus for further details.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. The use of FDI for investment purposes will not be extensive. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- Investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.
- The Sub-Fund may, in exceptional circumstances, invest substantially in deposits with credit institutions. Although the Sub-Fund may invest in money market instruments and cash deposits, Shares in the Sub-Fund are not deposits and are different in nature to a deposit in that the investment is not guaranteed and the value of the investment is capable of fluctuation. Investment in the Sub-Fund involves certain investment risks, including the possible loss of principal.


#### The Investment Manager
Insight Investment Management (Global) Limited
The Investment Manager may delegate its investment management functions to a Sub-Investment Manager and/or appoint a sub-investment adviser to provide investment advice in accordance with the requirements of the Central Bank. As at the date of this Supplement, the Investment Manager has appointed the Sub- Investment Manager, as described below.

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its investment management functions with respect to this
Sub-Fund to Insight North America LLC (the “Sub-
Investment Manager”). Details of the Sub-Investment Management Agreement between the Investment Manager and the Sub-Investment Manager are set out
under the heading “Sub-Investment Managers” in the
Prospectus.

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD A (Acc.) | USD | 5,000 | 5% | 1.00% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 1.00% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| Euro H (Acc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro H (Inc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| CHF H (Acc.) (hedged) | CHF | 5,000 | 5% | 1.00% | 0% |
| CAD H (Acc.) (hedged) | CAD | 5,000 | 5% | 1.00% | 0% |
| CAD H (Inc.) (hedged) | CAD | 5,000 | 5% | 1.00% | 0% |
| AUD H (Acc.) (hedged) | AUD | 5,000 | 5% | 1.00% | 0% |
| AUD H (Inc.) (hedged) | AUD | 5,000 | 5% | 1.00% | 0% |
| SGD H (Acc.) (hedged) | SGD | 5,000 | 5% | 1.00% | 0% |
| SGD H (Inc.) (hedged) | SGD | 5,000 | 5% | 1.00% | 0% |
| CNH H (Acc.) (hedged) | CNH | 50,000 | 5% | 1.00% | 0% |
| CNH H (Inc.) (hedged) | CNH | 50,000 | 5% | 1.00% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 0.80% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 0.80% | 0% |
| Euro G (Acc.) (hedged) | EUR | 5,000 | 5% | 0.80% | 0% |
| Euro G (Inc.) (hedged) | EUR | 5,000 | 5% | 0.80% | 0% |
| Sterling G (Acc.) (hedged) | GBP | 5,000 | 5% | 0.80% | 0% |
| Sterling G (Inc.) (hedged) | GBP | 5,000 | 5% | 0.80% | 0% |
| CHF G (Acc.) (hedged) | CHF | 5,000 | 5% | 0.80% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD C (Acc.) | USD | 5,000,000 | 5% | 0.80% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 0.80% | 0% |
| Euro I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 0.80% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 0.80% | 0% |
| CHF I (Acc.) (hedged) | CHF | 5,000,000 | 5% | 0.80% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.55% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.55% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.55% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.55% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.55% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.55% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.55% | 0% |
| CAD W (Acc.) (hedged) | CAD | 15,000,000 | 5% | 0.55% | 0% |
| CAD W (Inc.) (hedged) | CAD | 15,000,000 | 5% | 0.55% | 0% |
| AUD W (Acc.) (hedged) | AUD | 15,000,000 | 5% | 0.55% | 0% |
| AUD W (Inc.) (hedged) | AUD | 15,000,000 | 5% | 0.55% | 0% |
| SGD W (Acc.) (hedged) | SGD | 15,000,000 | 5% | 0.55% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| SGD W (Inc.) (hedged) | SGD | 15,000,000 | 5% | 0.55% | 0% |
| CNH W (Acc.) (hedged) | CNH | 150,000,000 | 5% | 0.55% | 0% |
| CNH W (Inc.) (hedged) | CNH | 150,000,000 | 5% | 0.55% | 0% |

| “E” Shares and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD E (Acc.) | USD | As agreed | 5% | 0.45% | 0% |
| USD E (Inc.) | USD | As agreed | 5% | 0.45% | 0% |
| Euro E (Acc.) (hedged) | EUR | As agreed | 5% | 0.45% | 0% |
| Euro E (Inc.) (hedged) | EUR | As agreed | 5% | 0.45% | 0% |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.45% | 0% |
| Sterling E (Inc.) (hedged) | GBP | As agreed | 5% | 0.45% | 0% |
| CHF E (Acc.) (hedged) | CHF | As agreed | 5% | 0.45% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| Euro X (Acc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Sterling X (Acc.) (hedged) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) (hedged) | GBP | None | 0% | 0% | 0% |
| CHF X (Acc.) (hedged) | CHF | None | 0% | 0% | 0% |
| CAD X (Acc.) (hedged) | CAD | None | 0% | 0% | 0% |
| CAD X (Inc.) (hedged) | CAD | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to generate a total return in excess of the benchmark as detailed below.

##### Investment Policy
The Sub-Fund aims to achieve its investment objective by investing primarily (meaning at least three-quarters of
the Sub-Fund’s Net Asset Value) in fixed and floating rate
debt and debt-related securities issued by sovereigns,
governments, supranationals, agencies, public international bodies, financial institutions, local authorities and corporates which are economically tied or linked to emerging market countries.
The debt and debt-related securities that the Sub-Fund may invest in include debentures, obligations, bonds (such as zero coupon bonds, agency bonds, municipal bonds, covered bonds, puttable bonds, callable bonds, tender option bonds, toggle bonds, step-up bonds, payment in kind bonds, Eurobonds, bullet bonds and treasury bonds), GDP linked bonds, money market instruments (such as local treasury bills, certificates of
deposit, commercial paper and term deposits), notes (such as floating rate notes, variable rate demand notes and loan participation notes), private placements (such as Reg S bonds and 144A bonds), hybrids (such as perpetual bonds, deferrable bonds i.e. cumulative and non-cumulative bonds and trust preferred securities),
deferred interests, convertible bonds and contingent convertible securities (“CoCos”) hereinafter “Debt and Debt-Related Securities”). These Debt and Debt-Related Securities may be denominated in hard or local
currencies.
The Sub-Fund may invest up to 10% of its Net Asset Value in CoCos. Please see “Contingent Convertible Securities (CoCos) Risk” in the Prospectus for details of the risks associated with CoCos.
The Sub-Fund may invest in residual interest certificates issued by Tender Option Bond Trusts where this provides a more cost effective means of gaining exposure to municipal bonds than investing in the underlying municipal bonds directly.
The Sub-Fund will invest directly in Debt and Debt-
Related Securities or indirectly through FDI (as set out in the section entitled “Use of FDI” below).
The Sub-Fund may invest up to 10% of its Net Asset
Value in aggregate in collective investment schemes (“CIS”) including money market funds such as Irish UCITS managed by Insight Investment Funds Management
Limited and advised by the Investment Manager.
The Investment Manager may invest in both investment grade (i.e. BBB- or above) and below investment grade securities (i.e. BB+ or below) as rated by a Recognised Rating Agency and will not be restricted by credit quality or maturity when making investment decisions. Therefore no minimum credit rating will apply to the investments of the Sub-Fund, which may be rated below investment grade.
The Sub-Fund may invest more than 10% and up to 35% of its Net Asset Value in debt securities issued and/or guaranteed by a single sovereign issuer (including its government, public or local authority) which is below investment grade as defined above. Examples of such sovereign issuers are Brazil, Indonesia and Turkey. Such investments are based on (i) the reference to a particular
benchmark (see section “Benchmark” below) and/or (ii)
the professional judgment of the Investment Manager
whose reasons for investment may include a favourable / positive outlook on the sovereign issuer, potential for ratings upgrade and the expected changes in the value of such investments due to the ratings changes. Please note that ratings of sovereign issuers may change from time to time and the abovementioned sovereigns are named only for reference and are subject to change as their ratings change.
With the exception of permitted investment in unlisted securities and open-ended CIS, the Sub-Fund’s investments in Debt and Debt-Related Securities and FDI
will be listed or traded on Eligible Markets listed in Appendix II of the Prospectus.
The Sub-Fund may invest up to 15% of its Net Asset Value in securities listed or traded on the Moscow Exchange.
The Sub-Fund may also invest up to 10% of its Net Asset Value in Debt and Debt-Related Securities in the People’s Republic of China (“PRC”) traded in the China interbank bond market (“CIBM”) via Bond Connect (as further described Appendix VI to the Prospectus.)

##### Cash and Collateral Management
The Sub-Fund may also temporarily hold high levels of cash and liquid near cash assets (i.e. up to 100% of its Net Asset Value) in certain circumstances for cash flow management. Such circumstances include where market conditions may require a defensive investment strategy ( e.g. market crash or major crisis), the holding of cash on deposit pending reinvestment, to meet redemptions, to facilitate payment of expenses and to provide collateral to support FDI exposure.
Liquid near cash assets may include fixed and floating rate Debt and Debt-Related Securities issued by sovereigns, governments, supranationals, agencies, public international bodies, financial institutions, local authorities and corporates which are economically tied or linked to emerging market countries and may have maturities longer than 1 year. It is intended that issuers and/or guarantors of any such securities and instruments will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a Recognised Rating Agency, or will be deemed by the Investment Manager to be of equivalent quality.

##### Benchmark
1/3 JP Morgan Government Bond Index – Emerging Markets Global Diversified TR Index, 1/3 JP Morgan Emerging Markets Bond Index Global Diversified TR Index,
1/3 JP Morgan Corporate Emerging Markets Bond Index Broad Diversified TR Index (the “Blended Benchmark”).
The JPM GBI-EM Global Diversified provides a comprehensive measure of local currency denominated, fixed rate, government debt issued in emerging markets. The index includes liquid, fixed rate, bullet bonds government securities with at least thirteen months remaining until maturity.
The JPM EMBI Global Diversified is a comprehensive U.S. Dollar emerging markets debt benchmark. Eligible for inclusion in the index are U.S. Dollar-denominated Brady bonds and Eurobonds issued by Emerging Market sovereign and quasi-sovereign entities.
The JPM CEMBI Broad Diversified is a liquid global emerging markets corporate benchmark including U.S. Dollar denominated bonds issued by emerging markets corporate entities.
The Sub-Fund will measure its performance against the Blended Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest outside the Blended Benchmark subject to the
investment objective and policy. While the Sub-Fund’s
holdings may include constituents of the Blended
Benchmark, the selection of investments and their weightings in the portfolio are not influenced by the Blended Benchmark. The investment strategy does not restrict the extent to which the Investment Manager may deviate from the Blended Benchmark.

##### Investment Strategy
The investment strategy of the Sub-Fund is based on identifying and investing in the long-term growth profile and credit improvement offered by emerging market countries that engage successfully in structural reform and economic improvement. The difference in the effectiveness of such policies can offer a broad range of investment opportunities that the Investment Manager will seek to evaluate and express investment views on
through investment in Debt and Debt-Related Securities, CIS and the FDI listed in the “Use of FDI” section below.
The Investment Manager engages in fundamental country macro research for each country within the emerging market universe, using a combination of quantitative and qualitative mechanisms, in order to form a judgement on the credit improvement or deterioration that is taking place. The Investment Manager then quantitatively identifies risk premium (i.e. returns in excess of the risk- free rate of return) (or interest rate premium) across bond, interest rate and currency markets from each of these countries, and makes a judgement whether, in their opinion, such premium compensates investors sufficiently for the risks they have identified. Once this analysis is complete, the Investment Manager can decide
what percentage of the Sub-Fund’s assets to invest in
Debt and Debt-Related Securities, CIS and FDI.
The investment strategy seeks in particular to generate alpha, which is a measurement of performance (i.e. any excess returns of the Sub-Fund relative to the return of the blended benchmark) through:
- Country allocation: distinguishing between countries that are on a positive or negative credit trajectory);
- Security selection: selecting the security with the best risk/reward conditions given the market environment) as determined by the process outlined above;
- Credit and legal analysis of corporate bonds within emerging market countries;
- Liquidity management: measuring the liquidity of a security for investment in the portfolio, and determining its appropriateness given the liquidity needs of the Sub-Fund;
- Asset allocation: measuring the best return opportunities between Debt and Debt-Related Securities, CIS and FDI within emerging market countries. Through different stages of the investment cycle, Debt and Debt-Related Securities, CIS and FDI can offer different levels of value and return prospects. Using the quantitative and qualitative mechanisms outlined above, the Investment Manager will increase allocation to those asset classes that in their opinion offers the most attractive opportunity given current and expected market conditions.

Our investment philosophy believes that such opportunities for alpha exist due to the characteristics displayed by the asset class over time:
- There is a substantial range in size and complexity of emerging market countries, and the degree to which they are successful (or otherwise) in improving their credit trajectory;
- Geographic and structural fundamental differences between emerging market countries, such as levels of economic activity and overall debt burden, provide diversification opportunities;
- There is increasing deepening of capital markets as new markets evolve and new countries issue debt and/or exit the asset class as they transition to developed market economies;Bond, interest rate and currency markets exhibit cyclical characteristics, which lends itself to active asset allocation opportunities.


##### The Sustainable Finance Disclosure Regulation
When assessing the sustainability risk associated with underlying investments of the Sub-Fund, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively
impacted by an ESG event or condition (“ESG Event”).
Sustainability risks are managed by ensuring senior
decision makers are informed and included in the Investment Manager’s responsible investment programme, and set effective accountability,
transparency and implementation procedures. Where sustainability risk issues are considered material to investment outcomes, they are incorporated into due diligence processes. This may include evaluating individual securities and/or interaction with issuers or market participants. Internal controls ensure sustainability criteria are applied to The Sub-Fund
continuously. ESG restrictions, which includes proprietary ESG ratings and third-party data, are set to prevent or permit investment in securities that meet sustainability- related characteristics. These controls are coded against the Sub-Fund and updated as new information is absorbed.
Corporate governance is a key sustainability risk factor forming part of proprietary ESG risk ratings for all issuers. The Investment Manager's corporate governance assessment includes evaluating board practices and behaviour, remuneration, control and accountability, and ethics or controversies. The Investment Manager applies the insights from ESG ratings alongside their own
knowledge of issuers’ governance structures to set
engagement priorities with issuers. The Investment
Manager considers these risks together to decide whether an investment reasonably compensates a fund for sustainability risks over the long and short-term.
In terms of social and environmental factors, the Investment Manager’s proprietary ESG ratings methodology provides sector specific and issuer specific
information on key issues. This model helps the Investment Manager to identify key risks that a specific sector or issuer may be facing.
The Sub-Fund may underperform or perform differently relative to other comparable funds that do not integrate sustainability risks into their investment decisions and there is a risk that that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of
the principal adverse impact consideration regime in Article 4 SFDR, (the “PAI regime”). The Manager is supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
| Futures | Currency Futures Interest Rate Futures (including Short Term Interest Rate Futures) Government Bond Futures |
| --- | --- |
| Options | Equity Options (index, sector, ETFs, custom basket) Currency Options Options on Interest Rate Futures Bond Options |

The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Forwards | Forward Foreign Exchange Contracts |
| --- | --- |
| Swaps | Credit Default Swaps (“CDS”) (single name and index) Interest Rate Swaps Currency Swaps Total Return Swaps (single name, index, and basket (in the case of the latter, underlying components of which can be grouped by sector, geography or other characteristics)) |
| Securities with Em- bedded FDI/ Leverage | Convertible Bonds Contingent Convertible Securities (CoCos) Callable and Puttable Bonds |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub-Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit CDX Emerging Markets Index |
| Total Return Swap (TRS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying physical securities. | Markit iBoxx GEMX Index |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. The remaining financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where additional information can be found, will be set out in the
Company’s semi-annual and annual accounts.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 100% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in SFTs, i.e. securities lending arrangements and
repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 15% and in respect of SFTs shall be 100%
of the Net Asset Value of the Sub-Fund. However, it is not anticipated that the Sub-Fund’s exposure in respect of TRS will exceed 15% and in respect of SFTs will
exceed 25% of the Net Asset Value of the Sub-Fund. The types of assets that will be subject to TRS and SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1£, 1€, 1CHF, 1CAD, 1AUD, 1SGD or 10CNH depending on the
currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11 November respectively. Further details are set out under
the heading "The Company - Distribution Policy” in the
Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are set out under the sub-heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors’ attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Multi-Asset High Income Fund

### SUPPLEMENT 41 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
This Supplement contains specific information in relation to the BNY Mellon Multi-Asset High Income Fund (the
“Sub-Fund”), a sub-fund of BNY Mellon Global Funds, plc (the “Company”) an open-ended umbrella type investment company established as a UCITS pursuant to the UCITS
Regulations. There exists segregated liability between the Sub-Funds of the Company.
This Sub-Fund was closed by way of compulsory redemption whereby all of the Shares in issue in the Sub-Fund as of 28 August, 2018, were compulsorily redeemed. Shares in the Sub-Fund are no longer
available for investment. The Company intends to apply to the Central Bank to revoke the Sub-Fund’s approval following the preparation of the audited financial
statements for the year ended 31 December, 2018. The Company shall seek approval from the Central Bank to remove the Sub-Fund from this Prospectus following approval of that revocation.
This Supplement forms part of and should be read in conjunction with the general description of:
- its Share Classes
- its Investment and Borrowing Restrictions
- its Distribution Policy
- its Method of Calculating the Net Asset Value
- the Company, its Management and Administration
- the Company's Fees and Expenses
- its Risk Factors
- the Taxation of the Company and of its Shareholders
- which are contained in the Prospectus dated 3 May, 2022 for the Company and which has been delivered along with this Supplement. If you have not received the Prospectus please contact the Administrator.
- The Directors whose names appear in the Prospectus under the heading “Management and Administration of the Company” accept responsibility for the information contained in this Supplement and in theProspectus. To the best of the knowledge and belief of the Directors (who have taken all reasonable care to ensure that such is the case) such information is in accordance with the facts and does not omit anything likely to affect the import of such information. The Directors accept responsibility accordingly.
- The Sub-Fund may utilise financial derivative instruments (“FDI”) for investment, hedging and efficient portfolio management purposes. The use ofFDI for investment purposes will not be extensive. In relation to the leverage effect of using FDI, see“Investment and Borrowing Restrictions – Global Exposure and Leverage” below. See also “Derivatives Risk” in the Prospectus under the heading “Risk Factors”.
- Management fees and other fees and expenses of the Sub-Fund will be charged to the capital of the Sub-Fund to seek to maximise distributions. See “Fees and Expenses” in the Prospectus for further details.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
The Manager has appointed BNY Mellon Asset Management North America Corporation (the “Investment Manager”) to manage the investment and re-investment of the assets of the Sub-Fund.
A description of the Investment Manager can be found under the heading “Management and Administration of the Company” in the Prospectus.

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 17.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the Share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| USD A (Acc.) | USD | up to 5% | USD 5,000 | 1.50% | None |
| USD A (Inc.) | USD | up to 5% | USD 5,000 | 1.50% | None |
| Euro A (Acc.) | EUR | up to 5% | EUR 5,000 | 1.50% | None |
| Euro A (Inc.) | EUR | up to 5% | EUR 5,000 | 1.50% | None |
| Sterling A (Inc.) | GBP | up to 5% | GBP 5,000 | 1.50% | None |
| HKD A (Acc.) | HKD | up to 5% | HKD 50,000 | 1.50% | None |
| HKD A (Inc.) | HKD | up to 5% | HKD 50,000 | 1.50% | None |
| AUD A (Acc.) | AUD | up to 5% | AUD 5,000 | 1.50% | None |
| AUD A (Inc.) | AUD | up to 5% | AUD 5,000 | 1.50% | None |
| CAD A (Acc.) | CAD | up to 5% | CAD 5,000 | 1.50% | None |
| CAD A (Inc.) | CAD | up to 5% | CAD 5,000 | 1.50% | None |
| CNH A (Acc.) | CNH | up to 5% | CNH 50,000 | 1.50% | None |
| CNH A (Inc.) | CNH | up to 5% | CNH 50,000 | 1.50% | None |
| SGD A (Acc.) | SGD | up to 5% | SGD 5,000 | 1.50% | None |
| SGD A (Inc.) | SGD | up to 5% | SGD 5,000 | 1.50% | None |
| Euro H (Acc.) (hedged) | EUR | up to 5% | EUR 5,000 | 1.50% | None |
| Euro H (Inc.) (hedged) | EUR | up to 5% | EUR 5,000 | 1.50% | None |
| Sterling H (Inc.) (hedged) | GBP | up to 5% | GBP 5,000 | 1.50% | None |
| AUD H (Acc.) (hedged) | AUD | up to 5% | AUD 5,000 | 1.50% | None |
| AUD H (Inc.) (hedged) | AUD | up to 5% | AUD 5,000 | 1.50% | None |
| CAD H (Acc.) (hedged) | CAD | up to 5% | CAD 5,000 | 1.50% | None |
| CAD H (Inc.) (hedged) | CAD | up to 5% | CAD 5,000 | 1.50% | None |
| CNH H (Acc.) (hedged) | CNH | up to 5% | CNH 50,000 | 1.50% | None |
| CNH H (Inc.) (hedged) | CNH | up to 5% | CNH 50,000 | 1.50% | None |
| SGD H (Acc.) (hedged) | SGD | up to 5% | SGD 5,000 | 1.50% | None |
| SGD H (Inc.) (hedged) | SGD | up to 5% | SGD 5,000 | 1.50% | None |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| USD C (Acc.) | USD | up to 5% | USD 5,000,000 | 1.00% | None |
| USD C (Inc.) | USD | up to 5% | USD 5,000,000 | 1.00% | None |
| Euro C (Acc.) | EUR | up to 5% | EUR 5,000,000 | 1.00% | None |
| Euro C (Inc.) | EUR | up to 5% | EUR 5,000,000 | 1.00% | None |
| Euro I (Acc.) (hedged) | EUR | up to 5% | EUR 5,000,000 | 1.00% | None |
| Euro I (Inc.) (hedged) | EUR | up to 5% | EUR 5,000,000 | 1.00% | None |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| USD W (Acc.) | USD | up to 5% | USD 15,000,000 | 0.75% | None |
| USD W (Inc.) | USD | up to 5% | USD 15,000,000 | 0.75% | None |
| Euro W (Inc.) | EUR | up to 5% | EUR 15,000,000 | 0.75% | None |
| Sterling W (Inc.) | GBP | up to 5% | GBP 15,000,000 | 0.75% | None |
| HKD W (Inc.) | HKD | up to 5% | HKD 150,000,000 | 0.75% | None |
| AUD W (Inc.) | AUD | up to 5% | AUD 15,000,000 | 0.75% | None |
| CAD W (Inc.) | CAD | up to 5% | CAD 15,000,000 | 0.75% | None |
| CNH W (Inc.) | CNH | up to 5% | CNH 150,000,000 | 0.75% | None |

| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| SGD W (Inc.) | SGD | up to 5% | SGD 15,000,000 | 0.75% | None |
| Euro W (Inc.) (hedged) | EUR | up to 5% | EUR 15,000,000 | 0.75% | None |
| Sterling W (Inc.) (hedged) | GBP | up to 5% | GBP 15,000,000 | 0.75% | None |
| AUD W (Inc.) (hedged) | AUD | up to 5% | AUD 15,000,000 | 0.75% | None |
| CAD W (Inc.) (hedged) | CAD | up to 5% | CAD 15,000,000 | 0.75% | None |
| CNH W (Inc.) (hedged) | CNH | up to 5% | CNH 150,000,000 | 0.75% | None |
| SGD W (Inc.) (hedged) | SGD | up to 5% | SGD 15,000,000 | 0.75% | None |

| “E” Shares and “E (hedged)" Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| USD E (Acc.) | USD | up to 5% | As agreed | 0.50% | None |
| USD E (Inc.) | USD | up to 5% | As agreed | 0.50 % | None |
| Euro E (Inc.) | EUR | up to 5% | As agreed | 0.50 % | None |
| HKD E (Inc.) | HKD | up to 5% | As agreed | 0.50 % | None |
| CNH E (Inc.) | CNH | up to 5% | As agreed | 0.50 % | None |
| SGD E (Inc.) | SGD | up to 5% | As agreed | 0.50 % | None |
| Euro E (Inc.) (hedged) | EUR | up to 5% | As agreed | 0.50 % | None |
| CNH E (Inc.) (hedged) | CNH | up to 5% | As agreed | 0.50% | None |
| SGD E (Inc.) (hedged) | SGD | up to 5% | As agreed | 0.50 % | None |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Initial Sales Charge | Minimum Initial Investment | Annual Management Fee | Redemption Fee |
| USD X (Acc.) | USD | None | None | None | None |
| USD X (Inc.) | USD | None | None | None | None |
| Euro X (Acc.) (hedged) | EUR | None | None | None | None |
| Euro X (Inc.) (hedged) | EUR | None | None | None | None |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to provide income and capital growth over the longer term.

##### Investment Policy
The Sub-Fund is a global multi-asset fund that aims to achieve its objective through asset allocation and security selection. The Sub-Fund may invest in equities and equity-related securities and debt and debt-related securities, as defined below. Equity and equity-related
securities are: common and preferred stock, exchange listed master limited partnerships (“MLPs”), American depositary receipts and global depositary receipts,
securities convertible into or exchangeable for such equities such as equity options, as well as stock purchase rights. Debt and debt-related securities are: treasury bills, debentures, bonds, including convertible bonds and contingent convertible bonds, asset-backed securities (ABS) and mortgage backed securities (MBS), floating rate notes where the underlying characteristics are standardised nature, inflation linked bonds, and money market instruments (including bankers acceptances, commercial paper, term deposits and
certificates of deposit), which may be fixed or floating rate, are issued or guaranteed by any sovereign government or their agencies, local authority,
supranational or public international bodies, banks, corporates or other commercial issuers, herein “Debt and Debt-Related Securities”.
MLPs are partnerships organised in the US which are publicly listed and traded on regulated markets. The asset of an MLP is the ownership of a limited liability company or limited partnership known as the operating entity which in turn owns subsidiaries and operating assets. The Sub-Fund will invest in the MLPs on an equity basis, i.e. through becoming a limited partner of the MLP. The partnership agreements of MLPs determine how cash distributions will be made to general partners and limited partners. Any distributions made by the MLPs will be rolled up into the NAV of the Sub-Fund. MLPs are treated as partnerships for US federal income tax purposes and do not pay taxes on corporate level.
The Sub-Fund may also invest in FDI (as set out below in “Use of Financial Derivative Instruments”) and up to 10% of its net assets in aggregate collective investment schemes (including exchange traded funds (“ETFs”) and money market funds). In addition to property,
commodities and money markets, collective investment schemes will be used to provide exposure to markets and
instruments which are consistent with the objectives and
policies of the sub-fund and which meet the criteria set out in the Central Bank’s guidance.
The Sub-Fund may at times invest in excess of 30% of the net assets of the Sub-Fund in sub-investment grade
securities, which are rated (BBB-) or its equivalent from a recognised rating agency such as Standard & Poor’s, Moody’s Investor Services, Fitch Ratings or equivalent recognised rating agency and unrated securities.
The Sub-Fund will not invest more than 10% of its Net Asset Value in securities issued and/or guaranteed by a single sovereign issuer with a credit rating below investment grade. For the avoidance of doubt, a single sovereign issuer shall include its government, a public or local authority.
The Sub-Fund may also invest indirectly in property,
commodities and infrastructure. However, such exposure is not expected to exceed 20% of the Sub-Fund’s net assets in relation to property; 20% of the Sub-Fund’s net assets in relation to commodities; 20% of the Sub-Fund’s net assets in relation to infrastructure; and in
combination is not expected to exceed more than 50% of the Sub-Fund’s net assets. Exposure to property will be gained through exposure to equity securities of
companies whose principal business is the ownership, management and/or development of real estate, investment in collective investment schemes, including
listed real estate investment trusts (“REITS”) and futures,
swaps and options on REIT or other property- related
financial indices which have been cleared in advance by the Central Bank. The REITS in which the Sub-Fund may invest may be open-ended or closed-ended. Any investment in closed-ended REITS will be confined to REITS which are considered by the Investment Manager to be relatively liquid in nature whether by virtue of a listing on an eligible market or the existence of a secondary market in units for such REITS and such an investment shall constitute an investment in a transferable security in accordance with the requirements of the Central Bank. Exposure to commodities and infrastructure will be gained through total return swaps on financial indices linked to commodities or infrastructure, ETFs and other collective investment schemes in accordance with the requirements of the UCITS Regulations and the Central Bank.
The Sub-Fund may invest on a global basis and there is no geographical, industry or sector focus in relation to the equities or other asset classes to which exposure may be taken and may invest more than 30% of its net assets in emerging market countries including Russia,
China and India. However, no more than 20% of the Sub- Fund’s net assets will be invested in securities listed or traded in Russia. The Sub-Fund may only invest in
Russian securities which are traded on the Moscow Exchange. Prior to gaining direct exposure to India, the Investment Manager will update the Supplement to provide information on the relevant local licences and sub-custodial arrangements and will ensure these are in place. With the exception of permitted investment in unlisted securities and open-ended collective investment schemes, the Sub-Fund investments in securities (including FDI) will be listed or traded on Eligible Markets listed in Appendix II of the Prospectus. The Sub-Fund may also invest in over-the-counter (OTC) FDI.
The Sub-Fund may invest up to 10% of its net assets in aggregate in transferable securities or money market instruments which are not admitted to or dealt in on an
eligible market, in accordance with the UCITS Regulations, including, but not limited to unlisted equities and Debt and Debt-Related Securities.
Whilst the Sub-Fund’s base currency is USD, it may invest in non-USD denominated assets which may not
necessarily be hedged back into USD. No more than 30% of the Sub-Fund’s net assets will be invested in Korea Won denominated assets.
The Sub-Fund may also hold high levels of cash and liquid near cash assets in certain circumstances. Please
see ‘Cash and Collateral Management’ below for further
details.

##### Investment Strategy
The Sub-Fund seeks to provide income and capital growth utilising a dynamic asset allocation and security selection approach. This means the Investment Manager will allocate between the asset classes and securities detailed in the Investment Policy section above and will adjust those allocations in line with the investment process described below.
- 
##### Allocation between Overall Equity and Debt Exposure

The Investment Manager first determines the allocation between equities and equity-related securities and Debt and Debt-Related Securities using forecasts of fundamental macroeconomic factors such as economic growth and inflation. This means the Investment Manager allocates between equity and debt depending on the return and risk estimates for each relevant market (e.g., UK equities and UK government bonds).
For the equity component, expected equity returns are estimated by forecasting cash flows for each equity security. The Investment Manager then considers these estimates in conjunction with its own forecasts of likely surprises against the consensus view of macroeconomic factors to determine the equity component allocation. These forecasts are used to estimate the likelihood of a recession in each country. If these forecasts suggest a recession is likely, the Investment Manager will lower its allocation to equities.
For the debt component, expected bond returns are estimated by forecasting the expected cash returns using estimates for growth, inflation and real interest rates over a long-term horizon. The expected bond return is the difference between the expected cash returns and the
Investment Manager’s proprietary assessment of current
bond yields.
- 
##### Selection of Equity and Debt Securities

Once the step above is complete, the Investment Manager focuses on selection of securities within the equity and debt components of the Sub-Fund. The Investment Manager will select securities taking into
account a security’s potential to provide income and how
much risk it adds to the Sub-Fund. This will be assessed
based on fundamentals such as firm value, profitability, quality of growth, and leverage.
The equity component includes other risky assets such as indirect property (“REITS”), commodities (ETFs) and infrastructure (“ETFs”) as described above in the investment policy.
- 
##### Selection of FDI

The Investment Manager uses the FDI described in the section ‘Use of Financial Derivative Instruments’ for three purposes within the investment strategy. The Investment
Manager selects the particular FDI depending on the intended purpose as outlined below, the costs involved and the benefit a particular FDI offers.
- To Enhance IncomeTo enhance the income of the Sub-Fund, the Investment Manager may receive options premia or income by selling Covered Call Options. Selling Covered Call Options may limit the upside return potential of a security in the case of a rising market, if the buyer of the Covered Call Option chooses to exercise it. Selling Covered Call Options may reduce the daily volatility of the underlying equity holding as well as the downside of the underlying equity holding in a falling market.
- To Adjust the Allocation between Overall Debt and Equity ExposureThe Investment Manager will use FDI as a cost efficient way to adjust the allocation between debt and equity to reflect updates to the InvestmentManager’s analysis. For instance, the InvestmentManager may purchase or sell futures as detailed in the section ‘Use of Financial Derivative Instruments’ to increase or reduce the allocation to a security orsector in a quick and cost efficient manner.
- HedgingThe Investment Manager will use FDI such as equity futures, interest rate swaps and CDS to hedge the equity, interest rate and credit risk embedded in individual securities in which the Sub-Fund invests in order to preserve assets during periods of significant market declines. The Investment Manager will use FDI such as Forward Foreign Exchange Contracts to hedge the currency exposure of the Sub-Fund.


##### Long and Short Positions
The Sub-Fund may employ long and synthetic short positions to achieve its investment objective. The Investment Manager may seek to hold long positions in any asset class described in the Supplement for the purposes of generating income and may seek to hold synthetic short positions in equities, bonds, and Credit
Default Swaps (“CDS”) (single name and index) to
generate additional income, hedge equity, bond or credit
exposure and/or reduce market exposure during periods of significant market price decline.
The total gross direct and indirect long position of investments held in accordance with the investment objective is anticipated to be between 50% and 200% of the Net Asset Value of the Sub-Fund and the total gross short position of investments held in accordance with the investment objective is anticipated to be between 0% to 150% of the Net Asset Value of the Sub-Fund. The long positions may need to increase in size to fulfil the investment objective of the Sub-Fund if, for example, the market volatility is unusually low. Short positions, other than Covered Call Options are intended to offset or hedge the long positions. They are not meant to be outright short positions but rather are intended to control and reduce the risk coming from the long positions e.g., short
positions in equities, bonds or CDS will be used to hedge equity, bond or credit exposure. Covered Call Options will be sold to enhance the income of the Sub-Fund.
Long and short positions used for currency hedged share classes have not been included in the information on long and short positions provided here.

##### Cash and Collateral Management
The Sub-Fund may also hold high levels of cash and liquid near cash assets in certain circumstances. Such circumstances include where market conditions may require a defensive investment strategy, the holding of cash on deposit pending reinvestment, to meet redemptions, to facilitate payment of expenses and to provide collateral to support FDI exposure.
Liquid or near cash assets may include any of the Debt and Debt-Related Securities as described above other than CoCos, MBS and ABS where they have characteristics consistent with being a liquid or near cash asset and bank deposits. It is intended that issuers and/or guarantors of any such Debt and Debt-Related Securities and bank deposits will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a recognised rating agency such as Standard &
Poor’s, or will be deemed by the Investment Manager to
be of equivalent quality.

##### Derivative Exposures
For investment, hedging and EPM purposes, the Sub- Fund may invest in the following exchange-traded and over-the-counter FDI, as further described below in the
section entitled “Use of Financial Derivative Instruments”:
| Futures | Equity Index Futures Interest Rate Futures (including Short Term Interest Rate Futures) Bond Futures Volatility Index Futures Money Market Futures |
| --- | --- |
| Options | Equity Options (single name, index, sector, custom basket, including covered call options) Index Options Options on interest rate futures Bond Options Options on Bond Futures Option on ETFs Options on Equity Futures |
| Forward For- eign Exchange Contracts | Non-deliverable Forwards Deliverable Forwards |
| Swaps | Credit Default Swaps (single name and index) Interest Rate Swaps Total Return Swaps (including single name credit and index) |
| Securities with Embedded FDI | Convertible Bonds (including Contingent Convertible bonds) Asset Back Securities (ABS) and Mortgage Backed Securities (MBS) |
| Securities which may embed lever- age | Convertible Bonds (including Contingent Convertible bonds) Stock Purchase Rights |


##### Financial Indices
The Sub-Fund may gain exposure to a variety of financial indices through the use of FDI for both efficient portfolio management (EPM) and investment purposes.
It is not possible to comprehensively list the actual financial indices to which exposure may be taken as they are extensive and will change over time and may include commodities indices such as the S&P GSCI Index and the Bloomberg Commodity Index which enable the Sub-Fund to gain exposure to a number of commodity sectors such as energy, industrial metals, agricultural products, livestock products and precious metals.
Details of any financial indices used by the Sub-Fund (including the markets which they are representing) will be provided to Shareholders by the Investment Manager of the Sub-Fund on request and will be set out in the
Company’s semi-annual and annual accounts. Any such
indices will be cleared by the Central Bank or will meet
its requirements. The financial indices to which the Sub- Fund may gain exposure will typically be rebalanced regularly. However, because the Sub-Fund does not aim to replicate or track any financial index, the Sub-Fund will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.

#### Use of Financial Derivative Instruments
Under the Sub-Fund’s investment policy and investment strategy as detailed above, the Sub-Fund may engage in transactions in FDI as described below for investment
purposes, for the EPM purposes or for hedging. The Investment Manager generally expects to use FDI for investment purposes where it considers that the use of FDI provides a more cost-effective means of gaining exposure to a particular asset than by investing in the underlying asset directly. Further details regarding the use of FDI for EPM purposes are detailed in the section
“Efficient Portfolio Management” below.
The expected level of leverage for the Sub-Fund arising from the use of FDI is set out in the section “Global Exposure and Leverage” under “Investment and Borrowing Restrictions” below.

##### Futures
Futures are contracts to buy or sell a standard quantity of a specific asset (or, in some cases, receive or pay cash based on the performance of an underlying asset, instrument or index) at a pre-determined future date and at a price agreed through a transaction undertaken on an exchange. Futures contracts allow investors to hedge against market risk or gain exposure to the underlying market. Since these contracts are marked-to-market daily, investors can, by closing out their position, exit from their obligation to buy or sell the underlying assets
prior to the contract’s delivery date. Frequently using
futures to achieve a particular strategy rather than the
underlying or related security or index, or index sector or basket of debt securities often results in lower transaction costs.
The Sub-Fund may invest in the following types of futures:
- Equity Index Futures: The Investment Manager may enter into equity index futures to reflect its views on the direction of particular equity markets.
- Interest Rate Futures (including Short Term InterestRate Futures): Interest rate futures (including shortterm interest rate futures) may be used to express the Investment Manager’s view that the yield curvewill move in a particular way. The Investment Manager may use these instruments to mitigate the interest rate exposure of fixed rate bonds.
- Bond Futures: Bond futures allow the Investment Manager to take positive or negative views on the direction of bond prices and seek to reduce the interest rate exposure of fixed rate bonds.
- Volatility Index Futures: The Sub-Fund may go long or short volatility index futures to express views about the expected volatility of markets.
- Money Market Futures: Money market futures allow the Sub-Fund to provide a cost effective and efficient alternative to a deposit with a specific credit institution. However, as the value of the futures contract will change with the level of the market, such investments will expose the Sub-Fund to the risk of negative performance if interest rates rise following the purchase of the contract.


##### Options
There are two forms of options, put and call options. Put options are contracts sold for a premium that gives one party (the buyer) the right, but not the obligation, to sell to the other party (the seller) to the contract, a specific quantity of a particular product or financial instrument at a specified price. Call options are similar contracts sold for a premium that gives the buyer the right, but not the obligation, to buy from the seller of the option at a specified price. Options may also be cash settled. The Sub-Fund may be a seller or buyer of put and call options. The Sub-Fund may purchase or sell these instruments either individually or in combinations. For example, purchasing a call option would allow the Sub- Fund to benefit from any upside in the performance, while limiting its overall exposure to the original premium paid by the Sub-Fund.
The Sub-Fund may invest in the following types of options:
- Equity Options (single name, index, sector, custombasket): Equity Options may be used to express views as to the direction of single name equities, an equity index or a custom basket of equities.
- Covered Call Options: By writing covered call options, the Investment Manager writes (sells) a call option contract while owning an equivalent number of shares in the underlying stock in order to either generate additional income and/or provide a limited amount of protection against a decline in underlying stock value.
- Index Options: The Sub-Fund may enter into options to seek exposure to certain indices, such as buying a call option on the Goldman Sachs Commodity Index. This would allow the Sub-Fund to benefit from any upside in the performance of the index while limiting its overall exposure to the premium paid by the Sub- Fund.
- Options on interest rate futures: Options on interest rate futures and may be used to express similar views as described for interest rate futures.
- Bond Options: Bond options may be used to express similar positional views as would be the case asbuying or selling the underlying bond or alternatively to express the Investment Manager’s view on the bond’s volatility.
- Options on Bond Futures: Options on bond futures may be used to express similar views as described for bond futures or alternatively to express theInvestment Manager’s view on the bond futures’volatility.
- Options on ETFs: Options on ETFs allow the Sub- Fund to benefit from the performance of the ETF while limiting the overall downside exposure to the amount paid in premium for the option by the Sub- Fund. If the Sub-Fund were to take a positive view on an ETF via the use of a call option, the downside exposure would be limited to the premium of that option, and vice versa for a negative view via the use of a put option.
- Options on Equity Futures: Options on equity futures allow the Sub-Fund to gain or reduce exposure to a market, asset class or sector without having to purchase or sell securities directly.


##### Forward Foreign Exchange Contracts (including non- deliverable forwards)
The Sub-Fund may also enter into forward foreign exchange contracts. A forward contract locks-in the price at which an index or asset may be purchased or sold on a future date. In currency contracts the contract holders are obliged to buy or sell the currency at a specified price at a specified quantity and on a specified future date.
Currency forward settlement can be on a cash (non- deliverable) or a delivery basis provided it has been specified beforehand.
Forward foreign exchange contracts may be used to hedge, at the discretion of the Investment Manager, any currency exposure back to the base currency.

##### Swaps
A swap is an agreement negotiated between two parties to exchange the return on a reference interest rate such as a fixed or floating money market rate, for the return on a single stock, baskets of stocks, index or an index sector. They can be used to express both positive and negative views on stocks (by creating a synthetic short position).
The Sub-Fund may invest in the following types of swaps:
- Credit default swaps: A credit default swap (CDS) is a financial swap agreement that transfers a credit exposure on a specific (“reference”) entity or aportfolio of reference entities (“index” or “basket”CDS) across market participants. A buyer of a CDS,such as the Sub-Fund, makes periodic payments in exchange for a positive payoff when a credit event is deemed to have occurred.
- Interest rate swaps: An interest rate swap is an agreement negotiated between two parties to exchange LIBOR and/or other similarly recognised interest rate cash flows, calculated on a notional amount, at specified dates during the life of the swap. The use of interest rate swaps allows the interest rate sensitivity of the Sub-Fund to be changed faster and more cheaply than through the use of physical cash markets and more precisely than through exchange traded FDI markets. They may also be used to express views on the direction of interest rate movements.
- Total Return Swaps (including single name credit): A total return swap (TRS) is a type of over-the-counter FDI contract which allows the Sub-Fund to achieve exposure to an asset or asset class on a synthetic basis. The Sub-Fund receives the total return of a reference asset or asset class for example a fixed income security, fixed income index, a credit index or equity index for a specific period of time in return for a cost of financing. If the investment return is greater than the cost of financing the TRS, the Sub-Fund should receive an enhanced return which is greater than that which the underlying asset alone could generate.
- The Sub-Fund will only enter into total return swaps on behalf of the Sub-Fund with the credit institutionsdescribed under the heading “Investment and Borrowing Restrictions” in the Prospectus and which have a credit rating of at least A-2 (as rated by arecognised rating agency such as Standard and Poor’s) or lower where the credit institution posts initial margin. Subject to compliance with thoseconditions, the Investment Manager has full discretion as to the appointment of counterpartieswhen entering into total return swap in furtherance of the Sub-Fund’s investment objective and policies. It is not possible to comprehensively list in thisSupplement all the counterparties as they have not, as of the date of issue of this Supplement, been selected and they may change from time to time.

Risks associated with the use of TRS, are detailed in the Prospectus under the heading “Risk Factors”.
The Sub-Fund may invest in the following types of securities which may embed FDI and/or leverage:
- Convertible Bonds: The Sub-Fund may purchase convertible bonds instead of ordinary shares of a company for the purpose of the generation of additional income. In a situation where the yield of ordinary shares of a company is not high enough, but the yield and liquidity of convertible bonds of that company is high enough, the Sub-Fund may choose to use this instrument. Convertible bonds give the owner the option to convert it into common shares under specific terms.
- Contingent Convertible Bonds (CoCos): These types of securities offer a higher yield than conventionalbonds. CoCos convert from debt to equity only if the issuer’s capital drops below a pre-defined level. This forced conversion would typically be on economicallyunfavourable terms and result in a material loss to investors. Please see “Contingent Convertible Securities (CoCos) Risk” in the Prospectus for details of the risks associated with CoCos.
- Stock Purchase Rights: Stock purchase rights give the holder the option but not the obligation to purchase a predetermined number of shares at a predetermined price.
- Asset Back Securities (ABS) and Mortgage BackedSecurities (MBS)
- The Sub-Fund may also purchase ABS and MBS which embed derivatives. ABS and MBS may be used to provide the Sub-Fund with the opportunity for economic exposure to asset pools underlying the ABS or MBS and may provide the Sub-Fund with income.


#### Issue of Shares
Shares in each available unlaunched Share class will be offered during an initial offer period opening at 9.00 a.m. on 10 January, 2018 and closing at 5.00 p.m. on 9 July,
2018 (the “Initial Offer Period”) at an initial offer price per Share of 1€, 1USD, 1GBP, 10HKD, 1AUD, 1CAD, 10CNH or
1SGD depending on the currency of the relevant class
(plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Repurchase of Shares
Shares in each class may be repurchased, at the option of the relevant Shareholder, on any Valuation Day at the Valuation Point. The Repurchase Price is the Net Asset Value per Share of that class calculated as at the Valuation Point less the applicable redemption fee.
All requests for the repurchase of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Investment and Borrowing Restrictions
The Sub-Fund’s investment and borrowing restrictions are as set out under the heading “The Company - Investment and Borrowing Restrictions” in the Prospectus.

#### Global Exposure and Leverage
The Sub-Fund may leverage its positions to generate a notional exposure in excess of the Net Asset Value of the
Sub-Fund when calculated using Value at Risk (“VaR”) methodology in accordance with the Central Bank’s requirements.
VaR is the advanced risk measurement methodology used to assess the Sub-Fund’s leverage and market risk volatility. VaR attempts to predict, using historical data,
the likely scale of losses that might be expected to occur over a given period of time. Each day the VaR of the Sub- Fund is calculated using a one-tailed 99% confidence level, a 5 day holding period and a historical observation period of at least 1 year. For example, on a certain day, if the VaR of the Sub-Fund was calculated as 2% of the NAV of the Sub-Fund based on a 99% confidence interval over a 5 day holding period, this would mean that statistically the Sub-Fund would not expect to suffer a loss of more than 2% of the NAV of the Sub-Fund over a 5 day period, 99% of the time. It is important to note that the VaR of the Sub-Fund will vary day to day and as such the Sub-Fund intends to apply a VaR limit which it shall not exceed.
This holding period and historical observation period may change and as such there will be a corresponding change to the absolute limit provided always that it is in accordance with the requirements of the Central Bank and the Risk Management Process is updated and approved in advance. It should be noted the above is in accordance with the current VaR limits required by the Central Bank.
In accordance with the requirements of the Central Bank, the Sub-Fund applies a VaR limit of 10% of the NAV of the Sub-Fund (an absolute VaR limit).
VaR methods rely on a number of assumptions about the forecasting of investment markets and the ability to draw inferences about the future behaviour of market prices from historical movements. If those assumptions are incorrect by any significant degree, the size and frequency of losses actually incurred in the investment portfolio may considerably exceed those predicted by a VaR model (and even a small degree of inaccuracy in the forecasting models used can produce large deviations in the forecast produced). VaR does enable a comparison of risks across asset classes and serves as an indicator to a portfolio manager of the investment risk in a portfolio. If used in this way, and with an eye to the limitations of VaR methods and the particular model chosen, it can act as a signal to the Investment Manager of an increase in the general level of risk in a portfolio and as a trigger for corrective action by the Investment Manager. The measurement and monitoring of all exposures relating to the use of FDI will be performed on at least a daily basis.
The European Securities and Markets Authority (ESMA) has issued a series of guidelines on Risk Measurement and the Calculation of Global Exposure and Counterparty Risk for UCITS. These guidelines set out compulsory methodologies in the area of risk measurement and the calculation of global exposure and counterparty risk which must be adopted by all UCITS Funds. In particular, having regard to the calculation of the global exposure, ESMA sets out detailed methodologies to be followed by and disclosures to be provided by, a UCITS when they use the VaR approach. Among the ESMA requirements is the requirement that leverage should be calculated as the sum of the notionals of the FDI used.
In line with the ESMA and Central Bank’s requirements, leverage is calculated by adding the notional value of all the Sub-Fund’s long FDI positions and the positive notional value of all the Sub-Fund’s synthetic short FDI
positions. The calculation of leverage will therefore
include any positions held for the purposes of risk reduction or hedging, for instance forward FX contracts used to hedge currency risk within the Sub-Fund, as well as those which are used for investment purposes. In addition where existing positions are adjusted to take account of market movements or subscriptions and redemptions within the Sub-Fund, this may be achieved by putting in place additional positions overlaying existing FDI, which has the effect of increasing the aggregate notional value of outstanding FDI even where such adjustments are made to offset existing positions.
The level of the sum-of-the-notional leverage for the Sub-Fund arising from the use of FDI is expected to vary between 0% and 600% of the Net Asset Value, although it may exceed this target level at times. The level of the sum-of-the-notional leverage is calculated as the
aggregate notional value of the Sub-Fund’s long FDI positions and the absolute value of the Sub-Fund’s synthetic short FDI positions, as is required by the UCITS
Regulations. The reason for the broad leverage range is to take account of the fact that the Sub-Fund offers currency hedged share classes for which the currency exposure is hedged (through FDI and therefore may result in a higher level of leverage (based on sum-of-the- notional calculation). This measure of leverage is high as it does not take into account any netting or hedging arrangements that the Sub-Fund has in place even though these netting and hedging arrangements are used for risk reduction. In particular, it is anticipated that a significant element of the 0% to 600% range, will be made up of the notional value of FDI used by the Sub- Fund in connection with currency hedged share classes.

#### Efficient Portfolio Management
The Sub-Fund may utilise certain techniques and FDI for EPM purposes. The techniques and FDI that may be used,
are detailed in the section “Use of Financial Derivative Instruments” above and/or are set out under the heading “The Company – Efficient Portfolio Management” in the Prospectus. In addition, the Sub-Fund may utilise
repurchase agreements and reverse repurchase agreements for EPM purposes subject to the conditions and limits laid out in the Central Bank UCITS Regulations 2015. Repurchase agreements are transactions in which one party sells a security to the other party with a simultaneous agreement to repurchase the security at a fixed future date at a stipulated price reflecting a market rate of interest unrelated to the coupon rate of the securities. A reverse repurchase agreement is a transaction whereby the Sub-Fund purchases securities from a counterparty and simultaneously commits to resell the securities to the counterparty at an agreed upon date and price. For example, the Investment Manager may enter into repurchase agreements to enhance income earned in the Sub-Fund, or to manage interest exposure of fixed rate bonds more precisely than via the use of interest rate futures.
Subject to the conditions and limits set out in the Central Bank UCITS Regulations 2015, the Sub-Fund may use stocklending agreements to generate additional income for the Sub-Fund. A stocklending agreement is an
agreement under which title to the “loaned” securities is transferred by a “lender” to a “borrower” with the borrower contracting to deliver “equivalent securities” to the lender at a later date.
EPM transactions relating to the assets of the Sub-Fund may be entered into with one of the following aims:
- a reduction of risk;
- a reduction of cost; or
- the generation of additional capital or income for the Sub-Fund with a level of risk (relative to the expected return) consistent with the risk profile of the Sub- Fund and the risk diversification requirements inaccordance with the Central Bank UCITS Regulations 2015 and the Central Bank’s Guidance on “UCITS Eligible Assets” and as set out under the heading “The Company - Investment and Borrowing Restrictions” in the Prospectus.

In relation to EPM operations the Investment Manager will look to ensure that the transaction is economically appropriate and realised in a cost-effective manner.
Transaction costs may be incurred in respect of EPM techniques in respect of the Sub-Fund. All revenues from EPM techniques, net of direct and indirect operational costs, will be returned to the Sub-Fund. Any direct and indirect operational costs/fees arising from EPM techniques do not include hidden revenue and will be paid to such entities as outlined in the annual report of the Company, which shall indicate if the entities are related to the Manager or the Depositary.
Investors should consult the sections of the Prospectus entitled “Risk Factors - Counterparty Risk”, “Risk Factors
- Derivatives and Techniques and Instruments Risk” and
“Conflicts of Interest” for more information on the risks
associated with EPM.
Information on the collateral management policy for the Sub-Fund is set out under the heading “Collateral Management Policy” in the Prospectus.

##### Risk Management Process
The Company will employ a Risk Management Process which will enable it to accurately measure, monitor and manage the risks attached to FDI and details of this process have been provided to the Central Bank. The Company will not utilise FDI which have not been included in the Risk Management Process until such time as such instruments are disclosed in a revised Risk Management Process that has been submitted to and cleared in advance by the Central Bank.
The Company will provide on request to Shareholders supplementary information relating to the risk management methods employed by the Company including the quantitative limits that are applied and any recent developments in the risk and yield characteristics of the main categories of investments.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of Financial Derivative Instruments” and may engage in securities financing transactions (“SFTs”), i.e. stocklending
arrangements and repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management”.
The maximum exposure of the Sub-Fund in respect of TRS shall be 100% and in respect of SFTs shall be 100% of the Net Asset Value of the Sub-Fund. However, it is
not anticipated that the Sub-Fund’s exposure in respect
of TRS will exceed 20% and in respect of SFTs will
exceed 15% of the Net Asset Value of the Sub-Fund. The types of assets that will be subject to TRS or SFTs will be of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Stocklending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Share Class Hedging
This Sub-Fund offers hedged share classes. Such share classes are indicated by the suffix “(hedged)” Please see the section entitled “Share Class Hedging” in the Prospectus for further information on the operation and
impact of hedged share classes.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will be declared normally quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and
11 November respectively. Further details are set out under the heading “The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are set out under the sub-heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management fee payable to the Manager is set out under the heading “Share Classes” above.
The fees and expenses relating to the establishment and
organisation of the Sub-Fund including the fees of the Sub-Fund’s professional advisers will be borne by the Sub-Fund. Such fees and expenses are estimated not to exceed €65,000 and will be borne by the Sub-Fund and will be amortised over a period of up to 3 years from the
date of the launch of the Sub-Fund.

#### Risk Factors
Investors’ attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Global Infrastructure Income Fund

### SUPPLEMENT 42 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for hedging and efficient portfolio management purposes. The Sub- Fund will not use FDI for investment purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- It is proposed to charge management fees and other fees and expenses of the Sub-Fund to the capital of the Sub-Fund to seek to maximise distributions. See “Fees and Expenses” in the Prospectus for further details.
- The Sub-Fund’s Net Asset Value may have a high level of volatility due to its investment policy.
- Investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be suitable for all investors.


#### The Investment Manager
Newton Investment Management North America LLC

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| EUR A (Acc.) | EUR | 5,000 | 5% | 1.85% | 0% |
| EUR A (Inc.) | EUR | 5,000 | 5% | 1.85% | 0% |
| USD A (Acc.) | USD | 5,000 | 5% | 1.85% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 1.85% | 0% |
| CHF A (Acc.) | CHF | 5,000 | 5% | 1.85% | 0% |
| CHF A (Inc.) | CHF | 5,000 | 5% | 1.85% | 0% |
| EUR H (Acc.) (hedged) | EUR | 5,000 | 5% | 1.85% | 0% |
| EUR H (Inc.) (hedged) | EUR | 5,000 | 5% | 1.85% | 0% |

| “B” Shares and “J (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| EUR B (Acc.) | EUR | 10,000 | 5% | 1.40% | 0% |
| EUR B (Inc.) | EUR | 10,000 | 5% | 1.40% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| USD B (Acc.) | USD | 10,000 | 5% | 1.40% | 0% |
| USD B (Inc.) | USD | 10,000 | 5% | 1.40% | 0% |
| USD B (Inc.) (M) | USD | 10,000 | 5% | 1.40% | 0% |
| SGD B (Acc.) | SGD | 10,000 | 5% | 1.40% | 0% |
| SGD B (Inc.) | SGD | 10,000 | 5% | 1.40% | 0% |
| SGD B (Inc.) (M) | SGD | 10,000 | 5% | 1.40% | 0% |
| EUR J (Acc.) (hedged) | EUR | 10,000 | 5% | 1.40% | 0% |
| EUR J (Inc.) (hedged) | EUR | 10,000 | 5% | 1.40% | 0% |
| SGD J (Acc.) (hedged) | SGD | 10,000 | 5% | 1.40% | 0% |
| SGD J (Inc.) (hedged) | SGD | 10,000 | 5% | 1.40% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 0.90% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 0.90% | 0% |
| EUR G (Acc.) | EUR | 5,000 | 5% | 0.90% | 0% |
| EUR G (Inc.) | EUR | 5,000 | 5% | 0.90% | 0% |
| CHF G (Acc.) | CHF | 5,000 | 5% | 0.90% | 0% |
| CHF G (Inc.) | CHF | 5,000 | 5% | 0.90% | 0% |
| EUR G (Inc.) (hedged) | EUR | 5,000 | 5% | 0.90% | 0% |
| EUR G (Acc.) (hedged) | EUR | 5,000 | 5% | 0.90% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| EUR C (Acc.) | EUR | 5,000,000 | 5% | 0.90% | 0% |
| EUR C (Inc.) | EUR | 5,000,000 | 5% | 0.90% | 0% |
| USD C (Acc.) | USD | 5,000,000 | 5% | 0.90% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 0.90% | 0% |
| SGD C (Acc.) | SGD | 5,000,000 | 5% | 0.90% | 0% |
| SGD C (Inc.) | SGD | 5,000,000 | 5% | 0.90% | 0% |
| EUR I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 0.90% | 0% |
| EUR I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 0.90% | 0% |
| SGD I (Inc.) (hedged) | SGD | 5,000,000 | 5% | 0.90% | 0% |
| SGD I (Acc.) (hedged) | SGD | 5,000,000 | 5% | 0.90% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.68% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.68% | 0% |
| EUR W (Acc.) | EUR | 15,000,000 | 5% | 0.68% | 0% |
| EUR W (Inc.) | EUR | 15,000,000 | 5% | 0.68% | 0% |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.68% | 0% |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.68% | 0% |
| CHF W (Acc.) | CHF | 15,000,000 | 5% | 0.68% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| CHF W (Inc.) | CHF | 15,000,000 | 5% | 0.68% | 0% |
| SGD W (Acc.) | SGD | 15,000,000 | 5% | 0.68% | 0% |
| SGD W (Inc.) | SGD | 15,000,000 | 5% | 0.68% | 0% |
| EUR W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.68% | 0% |
| EUR W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.68% | 0% |
| SGD W (Acc.) (hedged) | SGD | 15,000,000 | 5% | 0.68% | 0% |
| SGD W (Inc.) (hedged) | SGD | 15,000,000 | 5% | 0.68% | 0% |

| “E” Shares and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD E (Acc.) | USD | As agreed | 5% | 0.40% | 0% |
| USD E (Inc.) | USD | As agreed | 5% | 0.40% | 0% |
| EUR E (Acc.) | EUR | As agreed | 5% | 0.40% | 0% |
| EUR E (Inc.) | EUR | As agreed | 5% | 0.40% | 0% |
| CHF E (Acc.) | CHF | As agreed | 5% | 0.40% | 0% |
| CHF E (Inc.) | CHF | As agreed | 5% | 0.40% | 0% |
| SGD E (Acc.) | SGD | As agreed | 5% | 0.40% | 0% |
| SGD E (Inc.) | SGD | As agreed | 5% | 0.40% | 0% |
| EUR E (Acc.) (hedged) | EUR | As agreed | 5% | 0.40% | 0% |
| EUR E (Inc.) (hedged) | EUR | As agreed | 5% | 0.40% | 0% |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.40% | 0% |
| Sterling E (Inc.) (hedged) | GBP | As agreed | 5% | 0.40% | 0% |
| SGD E (Acc.) (hedged) | SGD | As agreed | 5% | 0.40% | 0% |
| SGD E (Inc.) (hedged) | SGD | As agreed | 5% | 0.40% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| EUR X (Acc.) | EUR | None | 0% | 0% | 0% |
| EUR X (Inc.) | EUR | None | 0% | 0% | 0% |
| EUR X (Acc.) (hedged) | EUR | None | 0% | 0% | 0% |
| EUR X (Inc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Sterling X (Acc.) (hedged) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) (hedged) | GBP | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to maximise total returns from income and capital growth by gaining exposure to companies located worldwide that are engaged in infrastructure and related operations.

##### Investment Policy
The Sub-Fund invests primarily (meaning at least 80% of the Sub-Fund's Net Asset Value) in a concentrated portfolio of equity and equity-related securities (common and preferred stock, American depositary receipts and
global depository receipts (collectively “Depositary Receipts”) and listed real estate investment trusts (“REIT”s), of companies located worldwide that are
engaged in infrastructure and related operations (“Infrastructure Companies”).
Investments in REITs will not exceed 20% of the Sub- Fund’s Net Asset Value
The Sub-Fund will not invest more than 25% of its Net Asset Value in emerging market countries. These emerging market countries are likely to include, but are not limited to, China (exposure to China will be achieved through Hong Kong listed Chinese stocks and Depository Receipts), India (exposure to India will be achieved through Depository Receipts) and Mexico. The Sub-Fund will not invest in Russia. The Sub-Fund may also invest
up to 10% of its Net Asset Value in aggregate in open- ended collective investment schemes (“CIS”) including money market funds and open-ended exchange traded funds (“ETFs”). The Sub-Fund may also hold ancillary liquid assets such as bank deposits.
The Sub-Fund may use FDI, as outlined below in the section headed “Efficient Portfolio Management”. The Sub-Fund will not use FDI for investment purposes.
However, the Sub-Fund may on occasion hold warrants or stock purchase rights where these have been acquired by the Sub-Fund as a result of corporate actions.
The Sub-Fund does not intend to take short positions.
With the exception of permitted investment in unlisted securities and open-ended CIS, the Sub-Fund’s investments shall be listed or traded on Eligible Markets.
A list of the Eligible Markets is set out in Appendix II of the Prospectus.

##### Benchmark
S&P Global Infrastructure NR Index (the “Benchmark”).
The Benchmark is designed to track companies from around the world chosen to represent the listed infrastructure industry while maintaining liquidity and tradability. To create diversified exposure, the Benchmark includes three distinct infrastructure clusters: energy, transportation, and utilities.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest outside the Benchmark subject to the investment objective and policy. However, as the Benchmark covers a significant proportion of the investable universe, the
majority of the Sub-Fund’s holdings will be constituents
of the Benchmark but the weightings in the portfolio are
not influenced by those of the Benchmark. The investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.

##### Investment Strategy
The investment strategy aims to maximise total returns from income and capital growth by investing in a concentrated portfolio of Infrastructure Companies, as
further described in the section “Investment Policy”
above.
The majority of the Sub-Fund’s assets will be allocated to investment in higher yielding Infrastructure Companies in
order to provide income in the form of dividends to the Sub-Fund. In addition, a portion of the Sub-Fund’s assets will be allocated to investments in lower yielding (e.g.,
stocks with lower dividend payments) Infrastructure Companies with strong growth prospects.
Within these allocations, the Investment Manager may seek exposure to traditional infrastructure sectors such as energy, industrials, transportation and utilities as well
as non-traditional infrastructure sectors such as telecoms, senior housing, health care, and real estate industries. At any given time the Sub-Fund may have exposure to a portion, or all of these sectors depending
on the Investment Manager’s view of each sector at the
time. This view will be influenced by economic, political
or regulatory occurrences affecting each sector. The Sub- Fund will invest in both developed market and emerging market Infrastructure Companies.
The Investment Manager aims to invest in Infrastructure Companies which it believes benefit from consistent regulatory environments, a feature more common in developed markets, as well as stable cash flows driven by sustainable business models and consistent dividend payment profiles. The Investment Manager utilises quantitative and fundamental research to select investments by focusing on Infrastructure Companies that possess the most favourable combination of cash flow stability, dividend payment potential as well as
valuation metrics (such as price to earnings ratio, price to book ratio, and price to cash flow ratio). The Investment
Manager’s fundamental research includes evaluating key
areas such as balance sheet strength, competitive
landscape, stock-price valuations, liquidity and analysis of regulatory environment.
Risk management is a key component of the investment strategy. Where economic, political or regulatory risk is
present in a country or infrastructure sector, it is the Investment Manager’s intention to limit the impact of such risks on the Sub-Fund through its stock selection
process (as described below).

##### Stock Selection Buy Discipline
When selecting Infrastructure Companies to invest in the Investment Manager focuses on whether the projected cash flows of the Infrastructure Company are sustainable. The Investment Manager examines the
viability of the Infrastructure Company’s growth strategy,
its competitive position and general industry conditions
in order to establish this. In addition, the Investment Manger identifies the company level economic, regulatory and political risk impacting each Infrastructure Company it considers by examining and evaluating key areas such as the competitive landscape and the political and regulatory environment and then selects Infrastructure Companies which it believes are best placed to withstand or have more limited exposure to such risks due to the
particular Infrastructure Company’s competitive
advantages such as the age, quality, and replacement
cost of its infrastructure assets (and therefore the sustainability of its cash flows).
Sell Discipline
Where the Investment Manager’s ongoing review of an Infrastructure Company identifies flaws in its business
model, increased exposure to economic, regulatory or political risk, or lower than expected dividend payments, it may sell the holding. Investments will also be sold when the Investment Manager identifies a more promising investment opportunity.

##### The Sustainable Finance Disclosure Regulation
The management of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively impacted by
an ESG event or condition (“ESG Event”).
The Investment Manager applies fundamental analysis supported by quantitative data resources to assess the environmental, social and governance factors of each portfolio investment for potential sustainability risks. These factors may include but are not limited to, an
issuer’s impact on the environment, including emissions, land use and waste practices, and an issuer’s social policies and practices, including employee matters,
supply chain practices and human rights policies. The Investment Manager identifies and incorporates into its investment decision making process those considerations
that will influence an issuer’s behaviour or impact the
economic, regulatory, political, social or physical
environments in which it operates. The Investment Manager leverages the fundamental analysis along with quantitative data to derive a proprietary ESG score to
further enhance the management of sustainability factors within the Sub-Fund. The Investment Manager’s proprietary research is supplemented with third-party
resources including MSCI ESG data and ratings, Bloomberg ESG data, Sustainability Accounting
Standards Board’s (SASB) Engagement Guide, sell-side
research and industry events. The result is an investment
decision making process that seeks to minimise the Sub- Fund’s exposure to laggards on environment, social and governance criteria, while also taking into account any
remaining sustainability risks associated with the investments of the Sub-Fund.
The Investment Manager also assesses the governance practices of issuers through its fundamental research, supplemented by proprietary and third-party governance scoring methodologies, in order to satisfy itself that the relevant issuers follow good governance practices, in particular with respect to sound management structures, employee relations, remuneration of staff and tax compliance.
The Investment Manager monitors sustainability factors and risk exposures on a regular basis by reviewing
regular reporting on both the Investment Manager’s
proprietary and third-party ESG scores.
As explained above, the management and assessment of sustainability risks forms an important part of the Investment Manager's due diligence, however there may still be a risk that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations
under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Registration in Germany
This Sub-Fund is registered for sale in Germany. The Sub- Fund is classified as an Equity Fund for German tax purposes and as such it will permanently invest more than 50% of its assets in equities as defined in article 2 paragraph 8 of the German Investment Tax Act.

#### Registration in Hong Kong
This Sub-Fund is registered for sale in Hong Kong.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 50% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
In utilising FDI for EPM purposes, the Sub-Fund may gain indirect exposure to financial indices.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. securities lending
arrangements and repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of SFTs shall be 100% of the Net Asset Value of the Sub-
Fund. However, it is not anticipated that the Sub-Fund’s
exposure to the SFTs will exceed 15% of the Net Asset
Value. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1€, 1USD, 1GBP, 1CHF, or 1SGD depending on the currency of the relevant
class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) share classes with the suffix (“M”), dividends will normally be declared monthly on the last Business Day of the month. For
holders of income generating monthly distributing Shares, the declared dividends will normally be paid on or before the 20th calendar day of the following month. For all other income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11 November
respectively. Further details are set out under the heading "The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.
The fees and expenses relating to the establishment and
organisation of the Sub-Fund including the fees of the Sub-Fund’s professional advisers will be borne by the Sub-Fund. Such fees and expenses are estimated not to exceed €50,000 and will be borne by the Sub-Fund and will be amortised over a period of up to 3 years from the
date of the launch of the Sub-Fund.

#### Risk Factors
In addition, investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus, in particular, to “Infrastructure Companies Risk”.

## BNY Mellon Mobility Innovation Fund

### SUPPLEMENT 43 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
This Supplement contains specific information in relation to the BNY Mellon Mobility Innovation Fund (the “Sub- Fund”), a sub-fund of BNY Mellon Global Funds, plc (the “Company”) an open-ended umbrella type investment company established as a UCITS pursuant to the UCITS
Regulations. There exists segregated liability between the Sub-Funds of the Company.
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for hedging and efficient portfolio management purposes. The Sub- Fund will not use FDI for investment purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- Investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be suitable for all investors.
- The Sub-Fund’s Net Asset Value may have a high level of volatility due to its investment policy.


#### The Investment Manager
Newton Investment Management North America LLC

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| EUR A (Acc.) | EUR | 5,000 | 5% | 1.85% | 0% |
| EUR A (Inc.) | EUR | 5,000 | 5% | 1.85% | 0% |
| USD A (Acc.) | USD | 5,000 | 5% | 1.85% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 1.85% | 0% |
| CHF A (Acc.) | CHF | 5,000 | 5% | 1.85% | 0% |
| CHF A (Inc.) | CHF | 5,000 | 5% | 1.85% | 0% |
| EUR H (Acc.) (hedged) | EUR | 5,000 | 5% | 1.85% | 0% |
| EUR H (Inc.) (hedged) | EUR | 5,000 | 5% | 1.85% | 0% |
| Sterling H (Acc.) (hedged) | GBP | 5,000 | 5% | 1.85% | 0% |
| Sterling H (Inc.) (hedged) | GBP | 5,000 | 5% | 1.85% | 0% |
| CHF H (Acc.) (hedged) | CHF | 5,000 | 5% | 1.85% | 0% |
| CHF H (Inc.) (hedged) | CHF | 5,000 | 5% | 1.85% | 0% |

| “B” Shares and “J (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| EUR B (Acc.) | EUR | 10,000 | 5% | 1.40% | 0% |
| EUR B (Inc.) | EUR | 10,000 | 5% | 1.40% | 0% |
| USD B (Acc.) | USD | 10,000 | 5% | 1.40% | 0% |
| USD B (Inc.) | USD | 10,000 | 5% | 1.40% | 0% |
| SGD B (Acc.) | SGD | 10,000 | 5% | 1.40% | 0% |
| SGD B (Inc.) | SGD | 10,000 | 5% | 1.40% | 0% |
| HKD B (Acc.) | HKD | 100,000 | 5% | 1.40% | 0% |
| HKD B (Inc.) | HKD | 100,000 | 5% | 1.40% | 0% |
| EUR J (Acc.) (hedged) | EUR | 10,000 | 5% | 1.40% | 0% |
| EUR J (Inc.) (hedged) | EUR | 10,000 | 5% | 1.40% | 0% |
| SGD J (Acc.) (hedged) | SGD | 10,000 | 5% | 1.40% | 0% |
| SGD J (Inc.) (hedged) | SGD | 10,000 | 5% | 1.40% | 0% |
| AUD J (Acc.) (hedged) | AUD | 10,000 | 5% | 1.40% | 0% |
| AUD J (Inc.) (hedged) | AUD | 10,000 | 5% | 1.40% | 0% |
| CAD J (Acc.) (hedged) | CAD | 10,000 | 5% | 1.40% | 0% |
| CAD J (Inc.) (hedged) | CAD | 10,000 | 5% | 1.40% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 0.90% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 0.90% | 0% |
| EUR G (Acc.) | EUR | 5,000 | 5% | 0.90% | 0% |
| EUR G (Inc.) | EUR | 5,000 | 5% | 0.90% | 0% |
| CHF G (Acc.) | CHF | 5,000 | 5% | 0.90% | 0% |
| CHF G (Inc.) | CHF | 5,000 | 5% | 0.90% | 0% |
| EUR G (Inc.) (hedged) | EUR | 5,000 | 5% | 0.90% | 0% |
| EUR G (Acc.) (hedged) | EUR | 5,000 | 5% | 0.90% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| EUR C (Acc.) | EUR | 5,000,000 | 5% | 0.90% | 0% |
| EUR C (Inc.) | EUR | 5,000,000 | 5% | 0.90% | 0% |
| USD C (Acc.) | USD | 5,000,000 | 5% | 0.90% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 0.90% | 0% |
| SGD C (Acc.) | SGD | 5,000,000 | 5% | 0.90% | 0% |
| SGD C (Inc.) | SGD | 5,000,000 | 5% | 0.90% | 0% |
| EUR I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 0.90% | 0% |
| EUR I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 0.90% | 0% |
| SGD I (Inc.) (hedged) | SGD | 5,000,000 | 5% | 0.90% | 0% |
| SGD I (Acc.) (hedged) | SGD | 5,000,000 | 5% | 0.90% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.70% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.70% | 0% |
| EUR W (Acc.) | EUR | 15,000,000 | 5% | 0.70% | 0% |
| EUR W (Inc.) | EUR | 15,000,000 | 5% | 0.70% | 0% |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.70% | 0% |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.70% | 0% |
| CHF W (Acc.) | CHF | 15,000,000 | 5% | 0.70% | 0% |
| CHF W (Inc.) | CHF | 15,000,000 | 5% | 0.70% | 0% |
| SGD W (Acc.) | SGD | 15,000,000 | 5% | 0.70% | 0% |
| SGD W (Inc.) | SGD | 15,000,000 | 5% | 0.70% | 0% |
| EUR W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.70% | 0% |
| EUR W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.70% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.70% | 0% |
| CHF W (Inc.) (hedged) | CHF | 15,000,000 | 5% | 0.70% | 0% |
| SGD W (Acc.) (hedged) | SGD | 15,000,000 | 5% | 0.70% | 0% |
| SGD W (Inc.) (hedged) | SGD | 15,000,000 | 5% | 0.70% | 0% |

| “K” Shares and “K (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD K (Acc.) | USD | As agreed | 5% | 1.40% | 0% |
| USD K (Inc.) | USD | As agreed | 5% | 1.40% | 0% |
| EUR K (Acc.) (hedged) | EUR | As agreed | 5% | 1.40% | 0% |
| EUR K (Inc.) (hedged) | EUR | As agreed | 5% | 1.40% | 0% |
| CHF K (Acc.) (hedged) | CHF | As agreed | 5% | 1.40% | 0% |
| CHF K (Inc.) (hedged) | CHF | As agreed | 5% | 1.40% | 0% |
| Sterling K (Acc.) (hedged) | GBP | As agreed | 5% | 1.40% | 0% |
| Sterling K (Inc.) (hedged) | GBP | As agreed | 5% | 1.40% | 0% |
| SGD K (Acc.) (hedged) | SGD | As agreed | 5% | 1.40% | 0% |
| SGD K (Inc.) (hedged) | SGD | As agreed | 5% | 1.40% | 0% |

| “E” Shares and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD E (Acc.) | USD | As agreed | 5% | 0.40% | 0% |
| USD E (Inc.) | USD | As agreed | 5% | 0.40% | 0% |
| EUR E (Acc.) | EUR | As agreed | 5% | 0.40% | 0% |
| EUR E (Inc.) | EUR | As agreed | 5% | 0.40% | 0% |
| CHF E (Acc.) | CHF | As agreed | 5% | 0.40% | 0% |
| CHF E (Inc.) | CHF | As agreed | 5% | 0.40% | 0% |
| SGD E (Acc.) | SGD | As agreed | 5% | 0.40% | 0% |
| SGD E (Inc.) | SGD | As agreed | 5% | 0.40% | 0% |
| EUR E (Acc.) (hedged) | EUR | As agreed | 5% | 0.40% | 0% |
| EUR E (Inc.) (hedged) | EUR | As agreed | 5% | 0.40% | 0% |
| CHF E (Acc.) (hedged) | CHF | As agreed | 5% | 0.40% | 0% |
| CHF E (Inc.) (hedged) | CHF | As agreed | 5% | 0.40% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.40% | 0% |
| Sterling E (Inc.) (hedged) | GBP | As agreed | 5% | 0.40% | 0% |
| SGD E (Acc.) (hedged) | SGD | As agreed | 5% | 0.40% | 0% |
| SGD E (Inc.) (hedged) | SGD | As agreed | 5% | 0.40% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| EUR X (Acc.) | EUR | None | 0% | 0% | 0% |
| EUR X (Inc.) | EUR | None | 0% | 0% | 0% |
| EUR X (Acc.) (hedged) | EUR | None | 0% | 0% | 0% |
| EUR X (Inc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Sterling X (Acc.) (hedged) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) (hedged) | GBP | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to achieve long-term capital growth by primarily gaining exposure to companies located worldwide that are focused on innovation in transportation and related technologies.

##### Investment Policy
The Sub-Fund invests primarily (meaning at least 80% of the Sub-Fund's Net Asset Value in equity and equity- related securities (including but not limited to common and preferred stock, American depositary receipts and
global depository receipts (collectively “Depositary Receipts”)), of companies located worldwide that are focused on innovation in transportation and related
technologies.
Such companies include automobile manufacturers, component suppliers and automobile technology providers that focus on innovation in transportation relating to use, control and power such as enhanced infrastructure and data processing capabilities, clean energy production, the safety implications of advanced driver-assistance systems and the companies which
make use of or enable such mobility innovations (“Mobility Innovation Companies”). The Sub-Fund will invest across several industries located worldwide
reflecting the wide range of links between transportation, auto component investment, software and internet service investments.
There is no limit in the Sub-Fund’s investment in equity and equity-related securities of small and mid cap companies and the Sub-Fund may invest significantly in
such companies.
In particular, a significant portion of the Sub-Fund’s investment universe may be selected from the constituents of certain market sectors of the Benchmark.
The Benchmark represents the mid cap market across
both developed and emerging markets. The Benchmark
includes several market sectors which are relevant to the Sub-Fund’s investment strategy as further detailed below. The Sub-Fund will invest directly in selected
constituents of the Benchmark. Additional information on the Benchmark may be obtained from www.msci.com.
The Benchmark is rebalanced in May and November. However, while the Sub-Fund uses the Benchmark for investment purposes, because it does not aim to replicate or track the Benchmark, the Sub-Fund will not necessarily be impacted by any rebalancing, associated costs or stock weighting in the Benchmark which would exceed the permitted investment restrictions.
The Sub-Fund can invest in both developed and emerging markets. While the Sub-Fund expects to have significant exposure to developed markets, depending on how the mobility innovation market sector develops, it may invest more than 40% of its Net Asset Value in emerging market countries over time and there is no investment limitation in relation to such investments. These emerging market countries are likely to include, but are not limited to, Brazil, Russia, China, India and Mexico. The Sub-Fund may gain exposure to China through purchasing China H- shares listed or traded on the Hong Kong Stock Exchange, China B-shares listed or traded on the Shanghai Stock Exchange or the Shenzhen Stock Exchange, China A-shares via the Stock Connect and through Depositary Receipts. The Sub-Fund may invest up to 20% of its Net Asset Value in China A-shares via the Stock Connect. Further details about the Stock Connect are set out in Appendix V to the Prospectus. The Sub-Fund may gain exposure to India directly or through Depositary Receipts. The Sub-Fund may invest up to 20% of its Net Asset Value in securities listed or traded on the Moscow Exchange.
The Sub-Fund may also invest up to 10% of its Net Asset Value in aggregate in open-ended collective investment
schemes (“CIS”) including money market funds and open- ended exchange traded funds (“ETFs”). The Sub-Fund may also hold ancillary liquid assets such as bank deposits.
The Sub-Fund’s performance may be strongly influenced by movements in FX rates because assets of the Sub-
Fund denominated in a currency other than the Base Currency will usually not be hedged back to the Base Currency.
However, the Sub-Fund may use FDI, as outlined below in the sections headed “Use of FDI” and “Efficient Portfolio Management” to enter into cross currency transactions in order to hedge all or part of the currency exposures back to the Sub-Fund’s Base Currency from time to time.
The Sub-Fund does not intend to take short positions.
With the exception of permitted investment in unlisted securities and open-ended CIS, the Sub-Fund’s investments shall be listed or traded on Eligible Markets.
A list of the Eligible Markets is set out in Appendix II of the Prospectus.

##### Benchmark
MSCI AC World Mid Cap NR Index (the “Benchmark”).
The Benchmark captures mid cap representation across 23 Developed Markets (DM) and 26 Emerging Markets (EM) countries. With 1,307 constituents, the Benchmark covers approximately 15% of the free float-adjusted market capitalization in each country.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest
outside the Benchmark subject to the investment objective and policy. While the Sub-Fund’s holdings may include constituents of the Benchmark, the selection of
investments and their weightings in the portfolio are not influenced by the Benchmark. The investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.
Please see the ‘Investment Policy’ and ‘Investment Strategy’ sections for more information on how the Benchmark is used.’

##### Investment Strategy
The Sub-Fund aims to achieve its investment objective by
gaining exposure to Mobility Innovation Companies, as further described in the section “Investment Policy” above.
Identifying the Investment Universe
As referenced in the Investment Policy section above, the Investment Manager may select, a significant portion (up to 80%) of the securities in the Sub-Fund from relevant market sectors within the Benchmark. Such sectors include but are not limited to, Consumer Discretionary (Auto Components, Automobiles, Household Durables), Industrials (Building Products, Construction & Engineering, Electrical Equipment, Industrial Conglomerates, Machinery), Information Technology (Communications Equipment, Electronic Equipment Instruments & Components, Internet Software & Services, Semiconductors & Semiconductor Equipment, Software, Technology, Hardware Storage & Peripherals) and Telecommunication Services (Diversified
Telecommunication Services, Wireless Telecommunication Services). The Sub-Fund will invest directly in selected constituents of the sectors.
The list of relevant market sectors within the Benchmark and their constituents will be reviewed regularly. Any relevant changes to the Benchmark will be reviewed and analysed by the Investment Manager who will make the decision whether to reflect the change in the Investment Universe.
The Investment Manager also gains exposure to companies that are not part of the Benchmark which it identifies through its industry research.
Investment Selection
The Investment Manager selects investments from the
Investment Universe by using fundamental analysis to ascertain the management of the relevant companies’ ability and willingness to sustain and ideally grow value.
This fundamental analysis includes evaluating balance sheet strength, competitive landscape, stock-price valuations, liquidity and the regulatory environment.
Sell Discipline
The Investment Manager undertakes regular performance
reviews of each security. Performance reviews include an assessment of a security’s performance relative to its peer group as well as the Benchmark. The Investment
Manager considers selling securities which are found to have limited or no further growth potential, are expected to fall in value, or when there are more promising investment opportunities available.

##### The Sustainable Finance Disclosure Regulation
The management of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying
investments could be materially negatively impacted by an ESG event or condition (“ESG Event”).
The Investment Manager applies fundamental analysis supported by quantitative data resources to assess the environmental, social and governance factors of each portfolio investment for potential sustainability risks.
These factors may include but are not limited to, an issuer’s impact on the environment, including emissions, land use and waste practices, and an issuer’s social policies and practices, including employee matters,
supply chain practices and human rights policies. The Investment Manager identifies and incorporates into its
investment decision making process those considerations that will influence an issuer’s behaviour or impact the economic, regulatory, political, social or physical
environments in which it operates. The Investment Manager leverages the fundamental analysis along with quantitative data to derive a proprietary ESG score to
further enhance the management of sustainability factors within the Sub-Fund. The Investment Manager’s proprietary research is supplemented with third-party
resources including MSCI ESG data and ratings, Bloomberg ESG data, Sustainability Accounting
Standards Board’s (SASB) Engagement Guide, sell-side
research and industry events. The result is an investment
decision making process that seeks to minimise the Sub- Fund’s exposure to laggards on environment, social and governance criteria, while also taking into account any
remaining sustainability risks associated with the investments of the Sub-Fund.
The Investment Manager also assesses the governance practices of issuers through its fundamental research, supplemented by proprietary and third-party governance scoring methodologies, in order to satisfy itself that the relevant issuers follow good governance practices, in particular with respect to sound management structures, employee relations, remuneration of staff and tax compliance.
The Investment Manager monitors sustainability factors and risk exposures on a regular basis by reviewing
regular reporting on both the Investment Manager’s
proprietary and third-party ESG scores.
As explained above, the management and assessment of sustainability risks forms an important part of the Investment Manager's due diligence, however there may still be a risk that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund will not use FDI for investment purposes.

#### Registration in Germany
This Sub-Fund is registered for sale in Germany. The Sub- Fund is classified as an Equity Fund for German tax purposes and as such it will permanently invest more than 50% of its assets in equities as defined in article 2 paragraph 8 of the German Investment Tax Act.

#### Registration in Hong Kong
This Sub-Fund is registered for sale in Hong Kong.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 50% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
In utilising FDI for EPM purposes, the Sub-Fund may gain indirect exposure to financial indices.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. securities lending arrangements and repurchase/reverse repurchase
agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of
SFTs shall be 100% of the Net Asset Value of the Sub- Fund. However, it is not anticipated that the Sub-Fund’s exposure to the SFTs will exceed 15% of the Net Asset
Value. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be issued during their respective Initial Offer Periods at their
respective initial offer price per Share of 1€, 1USD, 1GBP,
1CHF, 1SGD, 1CAD, 1AUD or 10HKD depending on the
currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will
normally be paid on or before 11 February. Further details are set out under the heading “The Company Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.
The fees and expenses relating to the establishment and organisation of the Sub-Fund including the fees of the
Sub-Fund’s professional advisers will be borne by the
Sub-Fund. Such fees and expenses are estimated not to exceed €50,000 and will be amortised over a period of up to 3 years from the date of the launch of the Sub-Fund.

#### Risk Factors
In addition, Investors’ attention is drawn to the section entitled “Risk Factors” in the Prospectus, in particular, to “Market Capitalisation Risk”.

## BNY Mellon U.S. Credit Select Income Fund

### SUPPLEMENT 44 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- Management fees and other fees and expenses of the Sub-Fund will be charged to the capital of the Sub-Fund to seek to maximise distributions. See “Fees and Expenses” in the Prospectus for further details.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- Investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.
- The Sub-Fund may, in exceptional circumstances, invest substantially in deposits with credit institutions. Although the Sub-Fund may invest in money market instruments and cash deposits, Shares in the Sub-Fund are not deposits and are different in nature to a deposit in that the investment is not guaranteed and the value of the investment is capable of fluctuation. Investment in the Sub-Fund involves certain investment risks, including the possible loss of principal.


#### The Investment Manager
Insight Investment Management (Global) Limited.
The Investment Manager may delegate its investment management functions to a Sub-Investment Manager and/or appoint a sub-investment adviser to provide investment advice in accordance with the requirements of the Central Bank. As at the date of this Supplement, the Investment Manager has appointed the Sub- Investment Manager, as described below.

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its investment management functions with respect to this
Sub-Fund to Insight North America LLC (the “Sub-
Investment Manager”). Details of the Sub-Investment Management Agreement between the Investment
Manager and the Sub-Investment Manager are set out under the heading “Sub-Investment Managers” in the Prospectus.

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for
whom each class of Shares is intended is set out under the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD A (Acc.) | USD | 5,000 | 5% | 1.00% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 1.00% | 0% |
| Euro H (Acc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro H (Inc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| CHF H (Acc.) (hedged) | CHF | 5,000 | 5% | 1.00% | 0% |
| CAD H (Acc.) (hedged) | CAD | 5,000 | 5% | 1.00% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| CAD H (Inc.) (hedged) | CAD | 5,000 | 5% | 1.00% | 0% |
| HKD H (Acc.) (hedged) | HKD | 50,000 | 5% | 1.00% | 0% |
| HKD H (Inc.) (hedged) | HKD | 50,000 | 5% | 1.00% | 0% |
| CNH H (Acc.) (hedged) | CNH | 50,000 | 5% | 1.00% | 0% |
| CNH H (Inc.) (hedged) | CNH | 50,000 | 5% | 1.00% | 0% |
| SGD H (Acc.) (hedged) | SGD | 5,000 | 5% | 1.00% | 0% |
| SGD H (Inc.) (hedged) | SGD | 5,000 | 5% | 1.00% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 0.50% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 0.50% | 0% |
| Euro G (Acc.) (hedged) | EUR | 5,000 | 5% | 0.50% | 0% |
| Euro G (Inc.) (hedged) | EUR | 5,000 | 5% | 0.50% | 0% |
| Sterling G (Acc.) (hedged) | GBP | 5,000 | 5% | 0.50% | 0% |
| Sterling G (Inc.) (hedged) | GBP | 5,000 | 5% | 0.50% | 0% |
| CHF G (Acc.) (hedged) | CHF | 5,000 | 5% | 0.50% | 0% |
| CAD G (Acc.) (hedged) | CAD | 5,000 | 5% | 0.50% | 0% |
| CAD G (Inc.) (hedged) | CAD | 5,000 | 5% | 0.50% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD C (Acc.) | USD | 5,000,000 | 5% | 0.50% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 0.50% | 0% |
| Euro I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 0.50% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 0.50% | 0% |
| CHF I (Acc.) (hedged) | CHF | 5,000,000 | 5% | 0.50% | 0% |
| CAD I (Acc.) (hedged) | CAD | 5,000,000 | 5% | 0.50% | 0% |
| CAD I (Inc.) (hedged) | CAD | 5,000,000 | 5% | 0.50% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.40% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.40% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.40% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.40% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.40% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.40% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.40% | 0% |
| CAD W (Acc.) (hedged) | CAD | 15,000,000 | 5% | 0.40% | 0% |
| CAD W (Inc.) (hedged) | CAD | 15,000,000 | 5% | 0.40% | 0% |

| “E” Shares and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD E (Acc.) | USD | As agreed | 5% | 0.30% | 0% |
| USD E (Inc.) | USD | As agreed | 5% | 0.30% | 0% |
| Euro E (Acc.) (hedged) | EUR | As agreed | 5% | 0.30% | 0% |
| Euro E (Inc.) (hedged) | EUR | As agreed | 5% | 0.30% | 0% |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.30% | 0% |
| Sterling E (Inc.) (hedged) | GBP | As agreed | 5% | 0.30% | 0% |
| CHF E (Acc.) (hedged) | CHF | As agreed | 5% | 0.30% | 0% |
| CAD E (Acc.) (hedged) | CAD | As agreed | 5% | 0.30% | 0% |
| CAD E (Inc.) (hedged) | CAD | As agreed | 5% | 0.30% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| Euro X (Acc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Sterling X (Acc.) (hedged) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) (hedged) | GBP | None | 0% | 0% | 0% |
| CHF X (Acc.) (hedged) | CHF | None | 0% | 0% | 0% |
| CAD X (Inc.) (hedged) | CAD | None | 0% | 0% | 0% |
| CAD X (Acc.) (hedged) | CAD | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to provide income with the potential for capital growth over the longer term.

##### Investment Policy
The Sub-Fund invests the majority of its assets (meaning at least 51% of the Sub-Fund’s Net Asset Value) in a portfolio of fixed and floating rate debt and debt-related
securities issued by U.S. corporates, financial institutions, agencies, and the U.S. government.
The Sub-Fund may invest the remainder of its assets in debt and debt-related instruments issued by non-U.S. issuers including non-U.S. corporate and sovereign debt and debt-related securities. The Sub-Fund may invest over 20% of its Net Asset Value in debt and debt-related securities from emerging market countries, including up to 10% of its Net Asset Value in Russia, in which case investment will only be made in securities listed or traded on the Moscow Exchange.
The Sub-Fund may invest in both investment grade (i.e. BBB- or above) and up to 35% of its Net Asset Value in below investment grade securities (i.e. BB+ or below) as rated by a Recognised Rating Agency, at time of purchase, or unrated securities. The Sub-Fund will not be restricted by credit quality or maturity when making investment decisions. Therefore no minimum credit rating will apply to the investments of the Sub-Fund.
The debt and debt-related securities that the Sub-Fund may invest in directly, or indirectly through FDI, include debentures, bonds (such as zero coupon bonds, agency bonds, municipal bonds, covered bonds, puttable bonds, callable bonds, tender option bonds, step-up bonds, payment in kind bonds, Eurobonds, bullet bonds and treasury bonds), GDP linked bonds, money market instruments (such as U.S. treasury bills, certificates of deposit, commercial paper and term deposits), notes (such as floating rate notes, variable rate demand notes, and surplus notes), loans (including loan participations and loan assignments), private placements (such as certain Reg. S bonds and certain 144A bonds), hybrids (such as perpetual bonds, deferrable interests i.e. cumulative and non-cumulative bonds and trust preferred securities), guaranteed investment certificates, asset- backed and mortgage-backed securities, collateralised
loan obligations, convertible bonds and contingent convertible securities (“CoCos”) hereinafter “Debt and Debt-Related Securities”).
The Sub-Fund may invest up to 10% of its Net Asset Value in Loans.
The Sub-Fund may invest up to 10% of its Net Asset Value in CoCos. Please see “Contingent Convertible Securities (CoCos) Risk” in the Prospectus for details of the risks associated with CoCos.
The Sub-Fund may invest in residual interest certificates issued by Tender Option Bond Trusts where this provides a more cost effective means of gaining exposure to municipal bonds than investing in the underlying municipal bonds directly.
The Sub-Fund may invest up to 5% of its Net Asset Value in aggregate in private placements (such as certain Reg. S bonds and certain 144A bonds).
The Sub-Fund may seek to hold synthetic short positions in credit default swaps (“CDS”), bond futures, total return swaps and forward foreign exchange contracts to
generate additional income, hedge bond or credit exposure (i.e. the risk of default, inflation risk or interest rate risk) and/or reduce market exposure (i.e. the risk a market, asset class, or individual issuer falls in value) during periods of significant market price decline.
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in collective investment schemes
(“CIS”) including, money market funds and other Irish
UCITS advised by the Investment Manager.
With the exception of permitted investment in unlisted securities and open-ended CIS, the Sub-Fund’s investments will be listed or traded on Eligible Markets
listed in Appendix II of the Prospectus.
Whilst the Sub-Fund's Base Currency is U.S. Dollars, the Sub-Fund may invest in non-U.S. Dollar denominated assets which will generally be hedged back to U.S. Dollars using currency-related FDI. The currency-related FDI which may be used by the Sub-Fund for hedging
purposes are further described in the Prospectus in the section “Financial Derivative Instruments and Techniques”.

##### Loan Investments
The Sub-Fund may invest up to 10% of the Sub-Fund’s Net Asset Value in unsecuritised loan participations and/
or loan assignments, amortised loans and/or syndicated loans provided such instruments constitute money market instruments normally dealt in the money market, are liquid and have a value that may be accurately determined at any time.
The Sub-Fund may also invest in amortising loans.
A loan is often administered by an agent bank acting as agent for all holders. The Sub-Fund may have to rely on the agent bank or other financial intermediary to apply appropriate credit remedies against a corporate borrower.

##### Cash and Collateral Management
The Sub-Fund will hold cash and liquid near cash assets in certain circumstances, such as meeting redemptions, facilitating payment of expenses, holding cash on deposit pending reinvestment and to provide collateral to support FDI exposure. In exceptional circumstances, the Sub- Fund may temporarily hold high levels of cash and liquid
near cash assets (i.e. up to 100% of the Sub-Fund’s Net
Asset Value) where market conditions may require a
defensive investment strategy (e.g. market crash or major crisis).
Liquid near cash assets may include any of the fixed and floating rate Debt and Debt-Related Securities as described above, other than CoCos, MBS and ABS, where they have characteristics consistent with being a liquid or near cash asset and bank deposits. It is intended that issuers and/or guarantors of any such Debt and Debt- Related Securities and bank deposits will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a Recognised Rating Agency, or will be deemed by the Investment Manager to be of equivalent quality.

##### Benchmark
Bloomberg Barclays US Credit Index TR (the
“Benchmark”).
The Benchmark measures the investment grade, U.S. Dollar denominated, fixed-rate, taxable corporate and government related bond markets. It is composed of the Bloomberg Barclays US Corporate Index and a non- corporate component that includes foreign agencies, sovereigns, supranationals and local authorities.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest outside the Benchmark subject to the investment
objective and policy. While the Sub-Fund’s holdings may
include constituents of the Benchmark, the selection of
investments and their weightings in the portfolio are not influenced by the Benchmark. The investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.

##### Investment Strategy
The Sub-Fund’s investment strategy is to apply both income and total return approaches with a combination of:
- predominantly core income holdings held on a longer term, buy and maintain basis;and
- to a lesser extent, active total return holdings, which are holdings that the Investment Manager will have flexibility to frequently adjust to suit market conditions and as a consequence will be held for shorter periods.

Both the core income and active total return holdings will consist of Debt and Debt-Related Securities issued by
U.S. and non-U.S. issuers.
In order to determine the Sub-Fund’s asset allocation to core income holdings and active total return holdings, the
Investment Manager reviews the credit market by considering:
- Value assessment: identifying whether each credit market segment is trading at fundamentally cheap or expensive levels;
- Strategic indicators: assessing corporate fundamentals (i.e. revenue, assets, liabilities), ABS fundamentals (i.e. risk of default, credit ratings), technical environment and economic activity. This assessment is derived by analysing the direction of yield spreads over a 12 month period. A yield spread is the difference between yields on differing debt instruments of varying maturities, credit ratings and risk. The direction of the spread may increase or widen, meaning the yield difference between two bonds is increasing, and one sector is performing better than another. When spreads narrow, the yield difference is decreasing, and one sector is performing more poorly than another.
- Tactical outlook: assessing factors such as investor positioning, sentiment (i.e. market attitudes towards a particular security indicated through price movements and trading activity), issuance and near-term event risk (including political events). This assessment is derived subjectively from the judgements of the Investment Manager.

Once the value assessment, strategic indicators and tactical outlook for each credit market segment has been considered, the Investment Manager will decide how much of the portfolio to allocate to core income holdings and how much to allocate to active total return holdings. Security selection of particular income holdings and active total return holdings will then be based on analysis of the individual security and consideration of the duration and yield curve of the portfolio as a whole. Duration is the price sensitivity of Debt and Debt-Related Securities to changes in interest rates, expressed as a number of years. Security selection also brings together
the bottom-up individual security selection inputs from the Investment Manager’s credit analysts, who specialise in specific sectors and industries, e.g.
telecommunications, automobiles, technology, manufacturing and government bonds.
The Investment Manager may consider factors such as expense and ease of implementation when deciding how to implement the investment strategy and gain exposure to Debt and Debt-Related Securities, i.e. using FDI or CIS rather than buying the Debt and Debt-Related Securities directly.

##### The Sustainable Finance Disclosure Regulation
When assessing the sustainability risk associated with underlying investments of the Sub-Fund, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively
impacted by an ESG event or condition (“ESG Event”).
Sustainability risks are managed by ensuring senior
decision makers are informed and included in the Investment Manager’s responsible investment programme, and set effective accountability,
transparency and implementation procedures. Where sustainability risk issues are considered material to investment outcomes, they are incorporated into due diligence processes. This may include evaluating individual securities and/or interaction with issuers or market participants. Internal controls ensure sustainability criteria are applied to The Sub-Fund continuously. ESG restrictions, which includes proprietary ESG ratings and third-party data, are set to prevent or permit investment in securities that meet sustainability- related characteristics. These controls are coded against the Sub-Fund and updated as new information is absorbed.
Corporate governance is a key sustainability risk factor forming part of proprietary ESG risk ratings for all issuers. The Investment Manager's corporate governance assessment includes evaluating board practices and behaviour, remuneration, control and accountability, and ethics or controversies. The Investment Manager applies the insights from ESG ratings alongside their own
knowledge of issuers’ governance structures to set
engagement priorities with issuers. The Investment
Manager considers these risks together to decide whether an investment reasonably compensates a fund for sustainability risks over the long and short-term.
In terms of social and environmental factors, the Investment Manager’s proprietary ESG ratings methodology provides sector specific and issuer specific
information on key issues. This model helps the Investment Manager to identify key risks that a specific sector or issuer may be facing.
The Sub-Fund may underperform or perform differently relative to other comparable funds that do not integrate sustainability risks into their investment decisions and there is a risk that that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Currency Futures Interest Rate Futures (including Short Term Interest Rate Futures) Government Bond Futures Bond Futures |
| --- | --- |
| Options | Currency Options (including Barrier Options) Options on Interest Rate Futures Bond Options Options on Bond Futures Interest Rate Options Options on Credit Default Swaps Options on Volatility Indices |
| Forwards | Forward Foreign Exchange Contracts |
| Swaps | Credit Default Swaps (“CDS”) (single name and index) Interest Rate Swaps Total Return Swaps (single name, index, and basket (in the case of the latter, underlying components of which can be grouped by sector, geography or other characteristics)) |
| Securities with Em- bedded FDI/ Leverage | Convertible Bonds Contingent Convertible Securities (CoCos) Callable and Puttable Bonds Asset-Backed Securities (ABS) and Mortgage- Backed Securities (MBS) |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub-Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit CDX North American High Yield Index Markit CDX North American Investment Grade Index |
| Total Return Swap (TRS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying physical securities. | Markit iBoxx USD Liquid High Yield Index |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. The remaining financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.

##### Long and Short Positions
The Sub-Fund may employ synthetic long and synthetic short exposures in each of the asset classes referenced in the Investment Policy to achieve its investment objective. The total net long exposure (after taking account of hedging) through FDI is not expected to exceed 100% of the Net Asset Value of the Sub-Fund and the total net short exposure is not expected to exceed 100% of the Net Asset Value of the Sub-Fund (using the commitment approach).

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 100% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in SFTs, i.e. securities lending arrangements and
repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 15% and in respect of SFTs shall be 100%
of the Net Asset Value of the Sub-Fund. However, it is not anticipated that the Sub-Fund’s exposure in respect of TRS will exceed 15% and in respect of SFTs will
exceed 25% of the Net Asset Value of the Sub-Fund. The types of assets that will be subject to TRS and SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
Shares in available unlaunched share class will be offered during an Initial Offer Period opening at 9.00 a.m. on 4 May , 2022 and closing at 5.00 p.m. on 3 November,
2022 at an initial offer price per Share of 1USD, 1£, 1€,
1CHF, 10HKD, 10CNH or 1SGD depending on the currency
of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11 November respectively. Further details are set out under
the heading "The Company - Distribution Policy” in the
Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are set out under the sub-heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.
The fees and expenses relating to the establishment and organisation of the Sub-Fund including the fees of the
Sub-Fund’s professional advisers will be borne by the
Sub-Fund. Such fees and expenses are estimated not to exceed €35,000 and will be borne by the Sub-Fund and will be amortised over a period of up to 3 years from the
date of the launch of the Sub-Fund.

#### Risk Factors
Investors’ attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Sustainable Global Dynamic Bond Fund

### SUPPLEMENT 45 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.
- The Sub-Fund may invest substantially in deposits with credit institutions. Although the Sub-Fund may invest in money market instruments and cash deposits, Shares in the Sub-Fund are not deposits and are different in nature to a deposit in that the investment is not guaranteed and the value of the investment is capable of fluctuation. Investment in the Sub-Fund involves certain investment risks, including the possible loss of principal.


#### The Investment Manager
Newton Investment Management Limited

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its investment management functions with respect to this Sub-Fund to Newton Investment Management North
America LLC (the “Sub-Investment Manager”). Details of
the Sub-Investment Management Agreement between the
Investment Manager and the Sub-Investment Manager are set out under the heading “Sub-Investment Managers” in the Prospectus.

#### Base Currency
Euro

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| USD A (Acc.) | USD | 5,000 | 5% | 1.25% | 0% | SOFR (30-day compounded) + 2% |
| USD A (Inc.) | USD | 5,000 | 5% | 1.25% | 0% | SOFR (30-day compounded) + 2% |
| Euro A (Acc.) | EUR | 5,000 | 5% | 1.25% | 0% | 1 Month EURIBOR + 2% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 1.25% | 0% | 1 Month EURIBOR + 2% |
| Sterling A (Acc.) | GBP | 5,000 | 5% | 1.25% | 0% | SONIA (30-day compounded) + 2% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| --- | --- | --- | --- | --- | --- | --- |
| Sterling A (Inc.) | GBP | 5,000 | 5% | 1.25% | 0% | SONIA (30-day compounded) + 2% |
| CAD A (Acc.) | CAD | 5,000 | 5% | 1.25% | 0% | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 2% |
| CAD A (Inc.) | CAD | 5,000 | 5% | 1.25% | 0% | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 2% |
| AUD A (Acc.) | AUD | 5,000 | 5% | 1.25% | 0% | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 2% |
| AUD A (Inc.) | AUD | 5,000 | 5% | 1.25% | 0% | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 2% |
| HKD A (Acc.) | HKD | 50,000 | 5% | 1.25% | 0% | 1 Month HKD HIBOR + 2% |
| HKD A (Inc.) | HKD | 50,000 | 5% | 1.25% | 0% | 1 Month HKD HIBOR + 2% |
| CNH A (Acc.) | CNH | 50,000 | 5% | 1.25% | 0% | 1 Month CNH HIBOR + 2% |
| CNH A (Inc.) | CNH | 50,000 | 5% | 1.25% | 0% | 1 Month CNH HIBOR + 2% |
| SGD A (Acc.) | SGD | 5,000 | 5% | 1.25% | 0% | 1 Month SGD SIBOR + 2% |
| SGD A (Inc.) | SGD | 5,000 | 5% | 1.25% | 0% | 1 Month SGD SIBOR + 2% |
| USD H (Acc.) (hedged) | USD | 5,000 | 5% | 1.25% | 0% | SOFR (30-day compounded) + 2% |
| USD H (Inc.) (hedged) | USD | 5,000 | 5% | 1.25% | 0% | SOFR (30-day compounded) + 2% |
| GBP H (Acc.) (hedged) | GBP | 5,000 | 5% | 1.25% | 0% | SONIA (30-day compounded) + 2% |
| CHF H (Acc.) (hedged) | CHF | 5,000 | 5% | 1.25% | 0% | SARON (30-day compounded) + 2% |
| CAD H (Acc.) (hedged) | CAD | 5,000 | 5% | 1.25% | 0% | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 2% |
| CAD H (Inc.) (hedged) | CAD | 5,000 | 5% | 1.25% | 0% | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 2% |
| SGD H (Acc.) (hedged) | SGD | 5,000 | 5% | 1.25% | 0% | 1 Month SGD SIBOR + 2% |
| SGD H (Inc.) (hedged) | SGD | 5,000 | 5% | 1.25% | 0% | 1 Month SGD SIBOR + 2% |
| AUD H (Acc.) (hedged) | AUD | 5,000 | 5% | 1.25% | 0% | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 2% |
| AUD H (Inc.) (hedged) | AUD | 5,000 | 5% | 1.25% | 0% | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 2% |
| CNH H (Acc.) (hedged) | CNH | 50,000 | 5% | 1.25% | 0% | 1 Month CNH HIBOR + 2% |
| CNH H (Inc.) (hedged) | CNH | 50,000 | 5% | 1.25% | 0% | 1 Month CNH HIBOR + 2% |
| DKK H (Acc.) (hedged) | DKK | 50,000 | 5% | 1.25% | 0% | 1 Month DKK LIBOR + 2% |
| NOK H (Acc.) (hedged) | NOK | 50,000 | 5% | 1.25% | 0% | 1 Month NOK LIBOR + 2% |
| SEK H (Acc.) (hedged) | SEK | 50,000 | 5% | 1.25% | 0% | 1 Month SEK LIBOR + 2% |

| “V” Shares and “V (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| Euro V (Acc.) | EUR | As agreed | 5% | 0.18% | 0% | 1 Month EURIBOR + 2% |
| Euro V (Inc.) | EUR | As agreed | 5% | 0.18% | 0% | 1 Month EURIBOR + 2% |

| “G” Shares and “G” (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| USD G (Acc.) | USD | 5,000 | 5% | 0.75% | 0% | SOFR (30-day compounded) + 2% |
| USD G (Inc.) | USD | 5,000 | 5% | 0.75% | 0% | SOFR (30-day compounded) + 2% |
| Euro G (Acc.) | EUR | 5,000 | 5% | 0.75% | 0% | 1 Month EURIBOR + 2% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 0.75% | 0% | 1 Month EURIBOR + 2% |
| USD G (Acc.) (hedged) | USD | 5,000 | 5% | 0.75% | 0% | SOFR (30-day compounded) + 2% |
| USD G (Inc.) (hedged) | USD | 5,000 | 5% | 0.75% | 0% | SOFR (30-day compounded) + 2% |
| GBP G (Acc.) (hedged) | GBP | 5,000 | 5% | 0.75% | 0% | SONIA (30-day compounded) + 2% |
| CHF G (Acc.) (hedged) | CHF | 5,000 | 5% | 0.75% | 0% | SARON (30-day compounded) + 2% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| USD C (Acc.) | USD | 5,000,000 | 5% | 0.75% | 0% | SOFR (30-day compounded) + 2% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 0.75% | 0% | SOFR (30-day compounded) + 2% |
| Euro C (Acc.) | EUR | 5,000,000 | 5% | 0.75% | 0% | 1 Month EURIBOR + 2% |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 0.75% | 0% | 1 Month EURIBOR + 2% |
| Sterling C (Inc.) | GBP | 5,000,000 | 5% | 0.75% | 0% | SONIA (30-day compounded) + 2% |
| Sterling C (Acc.) | GBP | 5,000,000 | 5% | 0.75% | 0% | SONIA (30-day compounded) + 2% |
| CHF I (Acc.) (hedged) | CHF | 5,000,000 | 5% | 0.75% | 0% | SARON (30-day compounded) + 2% |
| USD I (Acc.) (hedged) | USD | 5,000,000 | 5% | 0.75% | 0% | SOFR (30-day compounded) + 2% |
| USD I (Inc.) (hedged) | USD | 5,000,000 | 5% | 0.75% | 0% | SOFR (30-day compounded) + 2% |
| SGD I (Acc.) (hedged) | SGD | 5,000,000 | 5% | 0.75% | 0% | 1 Month SGD SIBOR + 2% |
| SGD I (Inc.) (hedged) | SGD | 5,000,000 | 5% | 0.75% | 0% | 1 Month SGD SIBOR + 2% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.50% | 0% | SOFR (30-day compounded) + 2% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.50% | 0% | SOFR (30-day compounded) + 2% |
| Euro W (Acc.) | EUR | 15,000,000 | 5% | 0.50% | 0% | 1 Month EURIBOR + 2% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.50% | 0% | 1 Month EURIBOR + 2% |
| HKD W (Inc.) | HKD | 150,000,000 | 5% | 0.50% | 0% | 1 Month HKD HIBOR + 2% |
| USD W (Acc.) (hedged) | USD | 15,000,000 | 5% | 0.50% | 0% | SOFR (30-day compounded) + 2% |
| USD W (Inc.) (hedged) | USD | 15,000,000 | 5% | 0.50% | 0% | SOFR (30-day compounded) + 2% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.50% | 0% | SONIA (30-day compounded) + 2% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.50% | 0% | SONIA (30-day compounded) + 2% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.50% | 0% | SARON (30-day compounded) + 2% |
| CAD W (Inc.) (hedged) | CAD | 15,000,000 | 5% | 0.50% | 0% | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 2% |
| SGD W (Acc.) (hedged) | SGD | 15,000,000 | 5% | 0.50% | 0% | 1 Month SGD SIBOR + 2% |
| SGD W (Inc.) (hedged) | SGD | 15,000,000 | 5% | 0.50% | 0% | 1 Month SGD SIBOR + 2% |
| AUD W (Inc.) (hedged) | AUD | 15,000,000 | 5% | 0.50% | 0% | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 2% |
| CNH W (Inc.) (hedged) | CNH | 150,000,000 | 5% | 0.50% | 0% | 1 Month CNH HIBOR + 2% |
| DKK W (Acc.) (hedged) | DKK | 150,000,000 | 5% | 0.50% | 0% | 1 Month DKK LIBOR + 2% |
| NOK W (Acc.) (hedged) | NOK | 150,000,000 | 5% | 0.50% | 0% | 1 Month NOK LIBOR + 2% |
| SEK W (Acc.) (hedged) | SEK | 150,000,000 | 5% | 0.50% | 0% | 1 Month SEK LIBOR + 2% |

| “Z” Shares and “Z (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| USD Z (Acc.) (hedged) | USD | 200,000,000 | 5% | 0.35% | 0% | SOFR (30-day compounded) + 2% |
| USD Z (Inc.) (hedged) | USD | 200,000,000 | 5% | 0.35% | 0% | SOFR (30-day compounded) + 2% |
| Euro Z (Acc.) | EUR | 200,000,000 | 5% | 0.35% | 0% | 1 Month EURIBOR + 2% |
| Euro Z (Inc.) | EUR | 200,000,000 | 5% | 0.35% | 0% | 1 Month EURIBOR + 2% |

| “E” Shares and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| USD E (Acc.) | USD | As agreed | 5% | 0.30% | 0% | SOFR (30-day compounded) + 2% |
| USD E (Inc.) | USD | As agreed | 5% | 0.30% | 0% | SOFR (30-day compounded) + 2% |
| Euro E (Inc.) | EUR | As agreed | 5% | 0.30% | 0% | 1 Month EURIBOR + 2% |
| Euro E (Acc.) | EUR | As agreed | 5% | 0.30% | 0% | 1 Month EURIBOR + 2% |
| USD E (Inc.) (hedged) | USD | As agreed | 5% | 0.30% | 0% | SOFR (30-day compounded) + 2% |
| USD E (Acc.) (hedged) | USD | As agreed | 5% | 0.30% | 0% | SOFR (30-day compounded) + 2% |
| CHF E (Inc.) (hedged) | CHF | As agreed | 5% | 0.30% | 0% | SARON (30-day compounded) + 2% |
| CHF E (Acc.) (hedged) | CHF | As agreed | 5% | 0.30% | 0% | SARON (30-day compounded) + 2% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| USD X (Acc.) | USD | None | 0% | 0% | 0% | SOFR (30-day compounded) + 2% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% | SOFR (30-day compounded) + 2% |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% | 1 Month EURIBOR + 2% |
| Euro X (Inc.) | EUR | None | 0% | 0% | 0% | 1 Month EURIBOR + 2% |
| Sterling X (Acc.) | GBP | None | 0% | 0% | 0% | SONIA (30-day compounded) + 2% |
| CHF X (Acc.) (hedged) | CHF | None | 0% | 0% | 0% | SARON (30-day compounded) + 2% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The objective of the Sub-Fund is to maximize the total return from income and capital growth by investment
primarily (meaning at least three-quarters of the Sub- Fund’s Net Asset Value) in a globally diversified portfolio of debt and debt-related securities issued by companies
and governments that demonstrate attractive investment attributes and are deemed to be sustainable.

##### Investment Policy
The Sub-Fund will primarily invest at least three-quarters of the Sub-Fund’s Net Asset Value, in a portfolio of either fixed or floating rate, international, emerging market,
sovereign, government, supranational agency, corporate and bank bonds (including mortgage and corporate bonds) and other debt and debt-related securities (such as debentures, notes (including corporate, sovereign, structured, floating and fixed rate notes) asset and mortgage-backed securities, certificates of deposit and commercial paper listed or traded on Eligible Markets
located worldwide as listed in the section entitled “Use of FDI” below, (hereinafter “Debt and Debt-Related Securities”).
The Sub-Fund may invest up to 10% of its Net Asset Value in CoCos. Please see “Contingent Convertible Securities (CoCos) Risk” in the Prospectus for details of the risks associated with CoCos.
The Sub-Fund may invest in predominantly sub- investment grade corporate and government Debt and Debt Related Securities. The Sub-Fund will not invest in Debt and Debt-Related Securities rated as of the date of purchase below B- (or its equivalent), or, in the case of asset-backed securities, mortgage-backed securities and other investments linked to credit risk, is BBB- (or its equivalent) as rated by a Recognised Rating Agency. The Sub-Fund may invest in unrated Debt and Debt-Related Securities provided the Investment Manager deems them to be of an equivalent quality as set out above. In the case of a split rating (i.e. different ratings are given by two or more rating agencies), the lower of the two highest ratings will be considered. In the event that any Debt and Debt-Related Securities held by the Sub-Fund
are subsequently downgraded below the limits referred to
above, the Investment Manager may maintain a maximum exposure of 3% of the Net Asset Value of the Sub-Fund to such downgraded securities. To the extent that the aggregate value of such securities exceeds 3% of the Net Asset Value of the Sub-Fund, any which have not been upgraded within a six-month period, will be sold.
Exposures arising from the underlying holdings of collective investment schemes (“CIS”) will be taken into account in the application of the restrictions set out in
this paragraph.
The Sub-Fund may invest more than 10% and up to 35% of its Net Asset Value in debt securities issued and/or guaranteed by a single sovereign issuer (including its government, public or local authority) which is below investment grade (i.e. below BBB- but B- or above (or equivalent)) as rated by a Recognised Rating Agency.
Examples of such sovereign issuers are Brazil, Indonesia and Hungary. Such investments are based on the professional judgement of the Investment Manager, whose reasons for investment may include a favourable/ positive outlook on the sovereign issuer, potential for ratings upgrade and the expected changes in the value of such investments due to the ratings changes. Please note the ratings of sovereign issuers may change from time to time and the abovementioned sovereigns are named only for reference and are subject to change as their ratings change.
There are no limits with regard to the maximum maturity of the Debt and Debt-Related Securities. There is no formal limit on the duration of the Sub-Fund.
The Sub-Fund will not gain exposure to the Debt and Debt-Related Securities of companies that derive more than 10% of their turnover from the production and sale of tobacco and will not engage in securities lending activities.
The Sub-Fund may also invest in FDI as set out under the heading “Use of FDI” below.
The Sub-Fund may invest up to 10% of its Net Asset Value in collective investment schemes (“CIS”), including open-ended exchange traded funds (“ETFs”). Investment in CIS may be used for cash management purposes by
investment in money market funds or to give exposure to Debt and Debt-Related Securities.
The minimum credit rating of the Debt and Debt-Related Securities that such CIS may invest at time of purchase is B- (or its equivalent), or, in the case of asset-backed securities, mortgage-backed securities and other investments linked to credit risk, is BBB- (or its equivalent) as rated by a Recognised Rating Agency. In the case of a split rating, the lower of the two highest ratings will be considered. The Sub-Fund may invest in ETFs which will be listed on Eligible Markets and give exposure to bond markets.
The Sub-Fund may take long and short positions to hedge and to control the risk of the Sub-Fund or to express a view on the direction of the market. Short positions will mainly be used for hedging purposes.
The Sub-Fund may invest up to 10% of its Net Asset Value in securities listed or traded on the Moscow Exchange.
The Sub-Fund may also invest up to 10% of its Net Asset Value in Debt and Debt-Related Securities in the People’s Republic of China (“PRC”) traded in the China interbank bond market (“CIBM”) via Bond Connect (as further described Appendix VI to the Prospectus.)
The Sub-Fund may hold high levels of cash and liquid near cash assets in certain circumstances. Please see
‘Cash and Collateral Management’ below for further
details.
Whilst the Sub-Fund’s base currency is Euro, it may invest in non-Euro denominated assets. Such assets will be hedged back into Euro using currency related FDI.

##### Cash and Collateral Management
The Sub-Fund may also hold high levels of cash and liquid near cash assets to provide collateral to support FDI exposure and in certain circumstances. Such circumstances include where market conditions may require a defensive investment strategy, the holding of cash on deposit pending reinvestment, to meet redemptions and to facilitate payment of expenses.
Liquid near cash assets may include money market instruments (such as short-dated government bonds, certificates of deposit, commercial paper and term deposits) and bank deposits. It is intended that issuers and/or guarantors of any such securities and instruments will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a Recognised Rating Agency, or will be deemed by the Investment Manager to be of equivalent quality.

##### Benchmark
1 Month EURIBOR + 2% per annum (the “Cash Benchmark”).
The Sub-Fund uses the Cash Benchmark as a target set for the Sub-Fund’s performance to match or exceed over 5 years before fees.
EURIBOR is the Euro Interbank Offer Rate and is a reference rate that is constructed from the average interest rate at which Eurozone banks offer unsecured short-term lending on the inter-bank market.
The Sub-Fund is actively managed, which means the Investment Manager has discretion over the selection of investments, subject to the investment objective and policy.
The Benchmark is a cash-based market benchmark that does not take ESG factors into account and is not used to measure the extent to which the environmental or social characteristics promoted by the Sub-Fund are met.

##### Investment Strategy
The Sub-Fund is an actively managed dynamic global fixed income portfolio which aims to generate positive returns by investing in a portfolio of Debt and Debt-
Related Securities that demonstrate an ability to generate returns consistent with the Sub-Fund’s objective and meet the Investment Manager’s Environmental, Social and Governance (“ESG”) and sustainability criteria. When determining whether an
issuer engages in sustainable business practices and meets the Investment Manager’s ESG and sustainability criteria, the Investment Manager considers whether the
issuer (i) engages in such practices in an economic sense (e.g. the durability of the issuer's strategy, operations and finances), and (ii) takes appropriate account of the economic, political, governance and regulatory environment in which the issuer operates, which includes assessment of an issuer's environmental, social and/or governance practices.
The Investment Manager’s criteria incorporate elements of negative and positive screening alongside general and
security level ESG-related analysis and ultimately, in keeping with the investment objective and strategy of the Sub-Fund, seek to:
- Identify and avoid issuers that participate in specific areas of activity that the Investment Manager deems to be harmful from an ESG perspective or which do not follow good governance practices. As an example, the Investment Manager could deem issuers that have large carbon dioxide footprints or governments with poor human rights policies ineligible for investment. It will also exclude those issuers in breach of the Principles of the UN Global Compact which includes principles relating to human rights, labour, environment and anti corruption.
- Identify and invest in issuers that are proactively seeking to manage social and environmental factors well to generate sustainable returns. This may also include those issuers that are contributing to the development of solutions that will contribute towards addressing environmental and/ or social issues, examples of which could include more efficient or reduced use of natural resources or accessibility to healthcare.

The Investment Manager also may invest in corporate issuers where it believes it can promote sustainable business practices through ongoing issuer engagement. No investment will be made in a security that is deemed to have material ESG issues intrinsic to their business or economic activities, such as a tobacco company due to the health implications of smoking.
When determining whether an issuer meets the Investment Manager’s ESG and sustainability criteria the Investment Manager uses a combination of external and
internal data, research and ratings which are both quantitative and qualitative, in nature.
The Investment Manager is dependent upon information and data sourced from third parties (which may include providers of research, reports, screenings, ratings and/or analysis such as index providers and consultants). Such information or data may be incomplete, inaccurate or inconsistent.
The Investment Manager believes that no company, market or economy can be considered in isolation; each must be understood in a global context. The Investment Manager believes that events occurring around the world influence all financial markets and that successful investment in global Debt and Debt-Related Securities
therefore requires a thorough understanding of the world as a whole. The Investment Manager’s investment process entails the cross-comparison of fixed income
asset classes and Debt and Debt-Related Securities within a global framework using a combination of investment themes, fundamental analysis of the issuer and issue, security valuation and the analysis of ESG issues. The Investment Manager will determine how much to invest in each fixed income asset class, including investment grade corporate debt, sub-investment grade corporate debt, investment grade sovereign debt, emerging market sovereign debt, by looking at factors such as the duration, credit quality, country and currency of Debt and Debt-Related Securities. In a fixed income context, ESG factors have an influence on the quality,
and therefore value, of Debt and Debt-Related Securities issued by corporate and sovereign issuers.
Themes seek to identify major areas of structural change in the world, providing context to investment analysis and decision making, helping the Investment Manager identify areas of potential investment opportunity and risk. Some
of the Investment Manager’s long-term themes currently include, but are not limited to, ‘Population Dynamics’ (e.g. the impact of ageing populations), ‘Earth Matters’ (e.g.
development of clean energy and waste management solutions), ‘State Intervention’ (e.g. the impact on asset prices from changes in central bank policies and politics) and ‘Smart Revolution’ (e.g. the rise of artificial intelligence and automation). Allocations will be made at the Investment Manager’s discretion and are unconstrained by region or fixed income type, although all investments must meet the Investment Manager’s sustainability criteria.
In the event that issuers are identified as participating in specific areas of activity that the Investment Manager deems to be harmful from an ESG perspective, these issuers are subject to further review by the Investment Manager prior to them being purchased or held on a continuing basis.
There may be situations where the Investment Manager may invest in a security that has been identified as having involvement in potentially harmful activities. This may arise for certain companies whose activities or operations, typically due to a legacy business mix, may have historically created poor environmental or social outcomes but that are now investing and positively adapting to future needs (for example, this may include energy companies that are preparing for a transition to a lower carbon world). Similarly, in some instances, prevailing ESG ratings may not fully capture positive
ESG-related initiatives that an issuer may be working on.
The Sub-Fund’s investments must continue to meet the Investment Manager’s criteria on an ongoing basis after initial purchase and the level of sustainability risk that a
security may be subject to will be assessed in the same way as it would be assessed before initial purchase.

##### The Sustainable Finance Disclosure Regulation
The Sub-Fund integrates sustainability risk into investment decisions and promotes environmental or social characteristics and invests in companies with good governance for the purposes of Article 8 of the SFDR.
The consideration of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively impacted by
an ESG event or condition (“ESG Event”).
The Investment Manager has access to a variety of ESG- related data points provided by third party data providers which assists with the identification of potential ESG- related issues that an issuer may be facing. This includes but is not limited to exposure to activities that may be
deemed harmful to the environment or society. This data, along with data from the Investment Manager’s own proprietary responsible investment research resources, forms a central part of the Investment Manager’s consideration and assessment of the level of
sustainability risk that an investment may be subject to.
This assessment is integrated in to the security level research process which is based upon fundamental analysis of individual investment opportunities across a number of different factors including:
- Fundamental financial or economic characteristics
- Valuation
- Risk/reward profile
- The ESG characteristics of the issuer, including understanding how such considerations can impact economic returnsThe information gathered from the fundamental analysis conducted will be taken into account by the Investment Manager in deciding whether to acquire a holding in an issuer or continue to hold a position.

In the event that the sustainability risk associated with a particular investment increases beyond a level that the Investment Manager is comfortable with, taking in to consideration the investment objective and strategy of the Sub-Fund, the Investment Manager will consider
selling or reducing the Fund’s exposure to the relevant
investment, taking into account the best interests of the
Shareholders of the Fund.
As explained above, the assessment and management of sustainability risks forms an important part of the Investment Manager's due diligence process, however there may still be a risk that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The EU Taxonomy Regulation Technical Screening Criteria (“TSC”) will require the availability of multiple, specific data points regarding each investment. At the date
hereof, there is insufficient reliable, timely and verifiable data available for the Manager to be able to assess the investments of the Sub-Fund using the TSC.
In addition, the regulatory technical standards for the SFDR which define the methodology for the calculation of the share of EU Taxonomy-alignment for financial products such as the Sub-Fund and the templates for the required disclosures are not yet final. As at the date hereof, the Manager is not able to provide standardised and comparable disclosures on the alignment of the Sub-
Fund’s investments with the EU Taxonomy Regulation.
While there are investments in the Sub-Fund that are in economic activities that contribute to an environmental objective and may be eligible to be assessed against the TSC, the Manager is not currently in a position to describe:
- The extent to which the investments of the Sub-Fund are in Environmentally Sustainable Economic Activities;
- The proportion, as a percentage of the Sub-Fund’s portfolio, of investments in Environmentally Sustainable Economic Activities; or
- The proportion, as a percentage of the Sub-Fund’s portfolio of EU Taxonomy Regulation Enabling Activities and “EU Taxonomy Regulation Transitional Activities.

The Manager is keeping this situation under active review
and where sufficient reliable, timely and verifiable data on the Sub-Fund’s investments become available, the Manager will provide the descriptions referred to above,
in which case, this Prospectus or the relevant Supplement will be updated.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Options | Currency Options (including FX Options) Options on Government Bond Futures Bond Options Swaptions |
| --- | --- |
| Futures | Futures on Currencies and Options on Currency Futures Futures on Government Bonds Money Market Futures |
| Swaps | Total Return Swaps (single name, credit, index and custom basket) Credit Default Swaps (single name, index and custom basket) Interest Rate Swaps |
| Forwards | Forward Foreign Exchange Contracts |
| Securities with Em- bedded FDI/ Leverage | Warrants Convertible Bonds Contingent Convertible Securities (CoCos) Asset-Backed Securities (ABS) and Mortgage- Backed Securities (MBS) |
| Other instru- ments | Contracts for difference (CFD) |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial
purpose, are described in the Prospectus in the section entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub- Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit iTraxx CDS Index |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. However, as the Sub- Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions. Details of where to find additional
information on the financial indices named above are provided in ‘Appendix IX–Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus. Should the Sub-Fund gain exposure to a
financial index for investment purposes which is not listed above, details, including the market it represents and where additional information can be found, will be
set out in the Company’s semi-annual and annual
accounts.

##### Long and Short Positions
The Sub-Fund may employ synthetic long and synthetic short exposures in each of the asset classes referenced in the Investment Policy to achieve its investment objective. The total net long exposure (after taking account of hedging) through FDI is not expected to exceed 100% of the Net Asset Value of the Sub-Fund and the total net short exposure is not expected to exceed 100% of the Net Asset Value of the Sub-Fund (using the commitment approach).

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Absolute VaR
Absolute VaR Limit: Sub-Fund’s portfolio will not exceed 20% of the Net Asset Value (using a 20 Business Day holding period).
Gross leverage is expected to vary between: 0% to 1000% of the Sub-Fund’s Net Asset Value. The gross leverage may exceed this target level at times.
For more information on the Absolute VaR approach and Gross Leverage, please see “The Company – Global Exposure and Leverage” section in the Prospectus

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise repurchase/ reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central
Bank UCITS Regulations. Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI
the Sub-Fund may use for EPM purposes.

#### Securities Lending Arrangements
This Sub-Fund will not utilise securities lending arrangements and, therefore, may forego any additional returns that may be produced through such activities.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in SFTs, i.e. repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 100% and in respect of SFTs shall be 100% of the Net Asset Value of the Sub-Fund. However, the
Investment Manager does not anticipate that the Sub- Fund’s exposure in respect of TRS will exceed 30% and in respect of SFTs will exceed 15% of the Net Asset Value
of the Sub-Fund. The types of assets that will be subject to TRS and SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on TRS and SFTs, including acceptable collateral and counterparty procedure is given under the
headings “Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be issued during their respective Initial Offer Periods at their
respective initial offer price per Share of 1USD, 1£, 1€,
1CAD, 1AUD, 1SGD, 1CHF, 10HKD, 10CNH, 10DKK, 10NOK or
10SEK depending on the currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11
November respectively. Further details are set out under the heading "The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors’ attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Blockchain Innovation Fund

### SUPPLEMENT 46 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.
- The Sub-Fund’s Net Asset Value may have a high level of volatility due to its investment policy.


#### The Investment Manager
Newton Investment Management North America LLC

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its investment management functions with respect to this
Sub-Fund to Newton Investment Management Limited (the “Sub-Investment Manager”). Details of the Sub- Investment Management Agreement between the
Investment Manager and the Sub-Investment Manager are set out under the heading “Sub-Investment Managers” in the Prospectus.

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD A (Acc.) | USD | 5,000 | 5% | 1.85% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 1.85% | 0% |
| Euro A (Acc.) | EUR | 5,000 | 5% | 1.85% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 1.85% | 0% |
| Sterling A (Acc.) | GBP | 5,000 | 5% | 1.85% | 0% |
| Sterling A (Inc.) | GBP | 5,000 | 5% | 1.85% | 0% |
| Euro H (Acc.) (hedged) | EUR | 5,000 | 5% | 1.85% | 0% |
| Euro H (Inc.) (hedged) | EUR | 5,000 | 5% | 1.85% | 0% |
| Sterling H (Acc.) (hedged) | GBP | 5,000 | 5% | 1.85% | 0% |
| Sterling H (Inc.) (hedged) | GBP | 5,000 | 5% | 1.85% | 0% |

| “B” Shares and “J (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro B (Acc.) | EUR | 10,000 | 5% | 1.40% | 0% |
| Euro B (Inc.) | EUR | 10,000 | 5% | 1.40% | 0% |
| USD B (Acc.) | USD | 10,000 | 5% | 1.40% | 0% |
| USD B (Inc.) | USD | 10,000 | 5% | 1.40% | 0% |
| SGD B (Acc.) | SGD | 10,000 | 5% | 1.40% | 0% |
| SGD B (Inc.) | SGD | 10,000 | 5% | 1.40% | 0% |
| HKD B (Acc.) | HKD | 100,000 | 5% | 1.40% | 0% |
| HKD B (Inc.) | HKD | 100,000 | 5% | 1.40% | 0% |
| Euro J (Acc.) (hedged) | EUR | 10,000 | 5% | 1.40% | 0% |
| Euro J (Inc.) (hedged) | EUR | 10,000 | 5% | 1.40% | 0% |
| SGD J (Acc.) (hedged) | SGD | 10,000 | 5% | 1.40% | 0% |
| SGD J (Inc.) (hedged) | SGD | 10,000 | 5% | 1.40% | 0% |
| AUD J (Acc.) (hedged) | AUD | 10,000 | 5% | 1.40% | 0% |
| AUD J (Inc.) (hedged) | AUD | 10,000 | 5% | 1.40% | 0% |
| CAD J (Acc.) (hedged) | CAD | 10,000 | 5% | 1.40% | 0% |
| CAD J (Inc.) (hedged) | CAD | 10,000 | 5% | 1.40% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 0.90% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 0.90% | 0% |
| Euro G (Acc.) | EUR | 5,000 | 5% | 0.90% | 0% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 0.90% | 0% |
| CHF G (Acc.) | CHF | 5,000 | 5% | 0.90% | 0% |
| CHF G (Inc.) | CHF | 5,000 | 5% | 0.90% | 0% |
| Euro G (Inc.) (hedged) | EUR | 5,000 | 5% | 0.90% | 0% |
| Euro G (Acc.) (hedged) | EUR | 5,000 | 5% | 0.90% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro C (Acc.) | EUR | 5,000,000 | 5% | 0.90% | 0% |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 0.90% | 0% |
| USD C (Acc.) | USD | 5,000,000 | 5% | 0.90% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 0.90% | 0% |
| SGD C (Acc.) | SGD | 5,000,000 | 5% | 0.90% | 0% |
| SGD C (Inc.) | SGD | 5,000,000 | 5% | 0.90% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 0.90% | 0% |
| Euro I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 0.90% | 0% |
| SGD I (Inc.) (hedged) | SGD | 5,000,000 | 5% | 0.90% | 0% |
| SGD I (Acc.) (hedged) | SGD | 5,000,000 | 5% | 0.90% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.70% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.70% | 0% |
| Euro W (Acc.) | EUR | 15,000,000 | 5% | 0.70% | 0% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.70% | 0% |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.70% | 0% |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.70% | 0% |
| CHF W (Acc.) | CHF | 15,000,000 | 5% | 0.70% | 0% |
| CHF W (Inc.) | CHF | 15,000,000 | 5% | 0.70% | 0% |
| SGD W (Acc.) | SGD | 15,000,000 | 5% | 0.70% | 0% |
| SGD W (Inc.) | SGD | 15,000,000 | 5% | 0.70% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.70% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.70% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.70% | 0% |
| CHF W (Inc.) (hedged) | CHF | 15,000,000 | 5% | 0.70% | 0% |
| SGD W (Acc.) (hedged) | SGD | 15,000,000 | 5% | 0.70% | 0% |
| SGD W (Inc.) (hedged) | SGD | 15,000,000 | 5% | 0.70% | 0% |

| “K” Shares and “K (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD K (Acc.) | USD | As agreed | 5% | 1.40% | 0% |
| USD K (Inc.) | USD | As agreed | 5% | 1.40% | 0% |
| Euro K (Acc.) | EUR | As agreed | 5% | 1.40% | 0% |
| Euro K (Inc.) | EUR | As agreed | 5% | 1.40% | 0% |
| CHF K (Acc.) | CHF | As agreed | 5% | 1.40% | 0% |
| CHF K (Inc.) | CHF | As agreed | 5% | 1.40% | 0% |
| Euro K (Acc.) (hedged) | EUR | As agreed | 5% | 1.40% | 0% |
| Euro K (Inc.) (hedged) | EUR | As agreed | 5% | 1.40% | 0% |
| CHF K (Acc.) (hedged) | CHF | As agreed | 5% | 1.40% | 0% |
| CHF K (Inc.) (hedged) | CHF | As agreed | 5% | 1.40% | 0% |
| Sterling K (Acc.) (hedged) | GBP | As agreed | 5% | 1.40% | 0% |
| Sterling K (Inc.) (hedged) | GBP | As agreed | 5% | 1.40% | 0% |
| SGD K (Acc.) (hedged) | SGD | As agreed | 5% | 1.40% | 0% |
| SGD K (Inc.) (hedged) | SGD | As agreed | 5% | 1.40% | 0% |

| “E” Shares and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD E (Acc.) | USD | As agreed | 5% | 0.50% | 0% |
| USD E (Inc.) | USD | As agreed | 5% | 0.50% | 0% |
| Euro E (Acc.) | EUR | As agreed | 5% | 0.50% | 0% |
| Euro E (Inc.) | EUR | As agreed | 5% | 0.50% | 0% |
| CHF E (Acc.) | CHF | As agreed | 5% | 0.50% | 0% |
| CHF E (Inc.) | CHF | As agreed | 5% | 0.50% | 0% |
| SGD E (Acc.) | SGD | As agreed | 5% | 0.50% | 0% |
| SGD E (Inc.) | SGD | As agreed | 5% | 0.50% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| Euro E (Acc.) (hedged) | EUR | As agreed | 5% | 0.50% | 0% |
| Euro E (Inc.) (hedged) | EUR | As agreed | 5% | 0.50% | 0% |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.50% | 0% |
| Sterling E (Inc.) (hedged) | GBP | As agreed | 5% | 0.50% | 0% |
| SGD E (Acc.) (hedged) | SGD | As agreed | 5% | 0.50% | 0% |
| SGD E (Inc.) (hedged) | SGD | As agreed | 5% | 0.50% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Acc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Sterling X (Acc.) (hedged) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) (hedged) | GBP | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to achieve long-term capital growth by primarily investing in digital assets companies.

##### Investment Policy
The Sub-Fund invests primarily (meaning at least 80% of the Sub-Fund's Net Asset Value) in equity and equity- related securities including but not limited to common and preference shares, stock purchase rights, warrants,
American depositary receipts and global depository receipts (collectively “Depositary Receipts”), listed real estate investment trusts (“REITs”), and equity-related FDI (hereinafter “Equity and Equity-Related Securities”) in digital assets companies located worldwide.
Digital assets companies are companies likely to benefit from the emerging or ongoing revenue and/or cost savings opportunities offered by blockchain technology (synonymously known as distributed ledger technology) or
companies which enable blockchain technology (hereinafter “Blockchain Innovation Companies”). Blockchain technology, can be most simply defined as an
integrated software and hardware that enables companies to independently maintain and exchange digitalised transactional data in a standardised format.
There is no limit in the Sub-Fund’s investment in Equity and Equity-Related securities of small and mid-cap companies and the Sub-Fund may invest significantly in
such companies.
Investment in REITs will not exceed 10% of the Sub- Fund’s Net Asset Value and investment in warrants will not exceed 20% of the Sub-Fund’s Net Asset Value.
The Sub-Fund may also invest up to 10% of its Net Asset
Value in aggregate in open-ended CIS including exchange traded funds (“ETFs”) and money market funds. CIS may include another Sub-Fund or Sub-Funds of the Company
or other funds advised by the Investment Manager. Any investment in closed-ended funds (including ETFs) constituting transferable securities will be in accordance with the criteria and investment limits for transferable
securities, as set out under the heading “The Company – Investment and Borrowing Restrictions” in the Prospectus. The Sub-Fund may also hold ancillary liquid
assets such as bank deposits.
The Sub-Fund may gain exposure to commodities through a combination of securities listed or traded on Eligible Markets such as Equity and Equity-Related Securities, and CIS. The Sub-Fund will not invest directly in commodities.
With the exception of permitted investment in unlisted
transferable securities, approved money market instruments and open-ended CIS, the Sub-Fund’s investments shall be listed or traded on Eligible Markets.
A list of the Eligible Markets is set out in Appendix II of the Prospectus.
The Sub-Fund can invest in both developed and emerging markets. While the Sub-Fund’s exposure is expected to predominantly be to developed markets, depending on
how the blockchain technology market sector develops, it may invest more than 40% of its Net Asset Value in emerging market countries over time. These emerging market countries are likely to include, but are not limited to, Brazil, Russia, China, India and Mexico. The Sub-Fund may gain exposure to China through purchasing China H- shares listed or traded on the Hong Kong Stock Exchange, China B-shares listed or traded on the Shanghai Stock Exchange or the Shenzhen Stock Exchange, China A-shares via the Stock Connect and through Depositary Receipts. The Sub-Fund may invest up to 20% of its Net Asset Value in China A-shares via
the Stock Connect. Further details about the Stock Connect are set out in Appendix V to the Prospectus. The Sub-Fund may gain exposure to India directly or through Depositary Receipts. The Sub-Fund may invest up to 20% of its Net Asset Value in securities listed or traded on the Moscow Exchange.
Whilst the Sub-Fund’s base currency is USD, it may invest in non-USD denominated assets. Such assets will
not usually be hedged back into USD. Therefore, the performance of the Sub-Fund may be strongly influenced by movements in FX rates.
However, from time to time, the Sub-Fund may use FDI to enter into cross currency transactions in order to hedge
all or part of the currency exposures back to the Sub- Fund’s Base Currency. The FDI are further described in the Prospectus in the section “Financial Derivative Instruments and Techniques”.
The Sub-Fund does not intend to take short positions, however it will invest in both equity-related and other FDI.

##### Benchmark
MSCI AC World NR Index (the “Benchmark”).
The Benchmark is a comprehensive indicator of the performance of the global equity market, capturing large and mid-cap representation across developed and emerging markets countries. With over 2,000 constituents, it covers approximately 85% of the global investable equity opportunity set. The Benchmark implements a comprehensive and consistent approach to index construction that allows for meaningful global views and cross regional comparisons across all market capitalization size, sector and style segments and combinations. This methodology aims to provide exhaustive coverage of the opportunity set with a strong emphasis on index liquidity, investability and replicability. The Benchmark is reviewed quarterly to reflect changes in the underlying equity markets, while limiting undue index turnover.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest
outside the Benchmark subject to the investment objective and policy. While the Sub-Fund’s holdings may include constituents of the Benchmark, the selection of
investments and their weightings in the portfolio are not influenced by the Benchmark. The investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.

##### Investment Strategy
Identifying the Investment Universe
The Investment Manager invests in Equity and Equity- Related Securities to gain exposure to Blockchain Innovation Companies which are included in the investment universe. The investment universe is developed and maintained by the Investment Manager who researches and evaluates Blockchain Innovation Companies. The Investment Manager sources the investment universe globally, irrespective of industry or market capitalisation by using a combination of internal resources (global core research industry analysts,
portfolio management teams, and quantitative team members) as well as external resources that include trade-shows and industry reports.
Sector representation includes, but is not limited to information technology, financials, utilities, consumer staples, industrials, healthcare, consumer discretionary, communication services and real estate which are inclusive of sub-sectors/categories under each industry group. Such sectors may use blockchain technology and or smart contracts to manage the supply chain, speed up
transactions and reduce costs. Due to the extensive nature of distributed ledger technology’s application and the depth of constituents involved within any individual
implementation, the Sub-Fund can invest across an evolving set of industries. These industries include but are not limited to, those with companies exposed to; the track and trace and optimisation of the global supply chain (e.g., air freight and logistics, marine shipping, trucking, package foods and meats, supermarkets, restaurants, personal products), the global financial market (e.g., financial exchanges, asset management companies, custody banks, multi-line insurers), and the digitisation of healthcare (e.g., healthcare services, managed health care). Industries within information technology (application software, production of semiconductors, provision of internet services and information technology related infrastructure) may benefit from offering blockchain technology as an additional service. The Sub-Fund may also seek exposure to commodities by investing in financial indices. As a result of this diverse opportunity set, it is anticipated
that the universe will expand and evolve to encompass an
increasingly broader set of sectors and industries.
Investment Selection
The Investment Manager selects investments from the investment universe by using proprietary models to evaluate companies against market expectations and fundamental analysis to ascertain the management of the
relevant companies’ ability and willingness to sustain and
ideally grow value. This fundamental analysis includes
evaluating balance sheet strength, competitive landscape, stock-price valuations, liquidity and the regulatory environment. The analysis is supported by a pool of experienced equity research analysts.
Investments are then ranked by using a system that qualitatively scores the extent to which the investment is likely to benefit from the emerging or ongoing revenue and/or cost savings opportunities offered by distributed ledger technology. The system scores potential investments to reflect whether the company being considered is expected to have future exposure to blockchain technology (anticipated exposure), is currently seeking exposure to blockchain technology (moderate exposure) or currently has exposure to blockchain technology (high exposure). The Investment Manager seeks to construct a portfolio which focuses on companies with high exposure while also investing in companies with moderate exposure and anticipated exposure.
Sell Discipline
The Investment Manager undertakes regular performance reviews of each investment. Performance reviews include
an assessment of an investment’s performance relative to
its peer group within the investment universe. The
Investment Manager considers selling securities which
are found to have limited or no further growth potential, are expected to fall in value, or when there are more promising investment opportunities available.

##### The Sustainable Finance Disclosure Regulation
The management of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying
investments could be materially negatively impacted by an ESG event or condition (“ESG Event”).
The Investment Manager applies fundamental analysis supported by quantitative data resources to assess the environmental, social and governance factors of each portfolio investment for potential sustainability risks.
These factors may include but are not limited to, an issuer’s impact on the environment, including emissions, land use and waste practices, and an issuer’s social policies and practices, including employee matters,
supply chain practices and human rights policies. The Investment Manager identifies and incorporates into its investment decision making process those considerations
that will influence an issuer’s behaviour or impact the
economic, regulatory, political, social or physical
environments in which it operates. The Investment Manager leverages the fundamental analysis along with quantitative data to derive a proprietary ESG score to further enhance the management of sustainability factors
within the Sub-Fund. The Investment Manager’s
proprietary research is supplemented with third-party
resources including MSCI ESG data and ratings,
Bloomberg ESG data, Sustainability Accounting Standards Board’s (SASB) Engagement Guide, sell-side research and industry events. The result is an investment
decision making process that seeks to minimise the Sub- Fund’s exposure to laggards on environment, social and governance criteria, while also taking into account any
remaining sustainability risks associated with the investments of the Sub-Fund.
The Investment Manager also assesses the governance practices of issuers through its fundamental research, supplemented by proprietary and third-party governance scoring methodologies, in order to satisfy itself that the relevant issuers follow good governance practices, in particular with respect to sound management structures, employee relations, remuneration of staff and tax compliance.
The Investment Manager monitors sustainability factors and risk exposures on a regular basis by reviewing
regular reporting on both the Investment Manager’s
proprietary and third-party ESG scores.
As explained above, the management and assessment of sustainability risks forms an important part of the Investment Manager's due diligence, however there may still be a risk that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however,
currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Equity Index Futures Commodity Index Futures |
| --- | --- |
| Options | Low Exercise Price Options (LEPOs) and Low Exercise Price Warrants (LEPWs) |
| Forwards | Forward Foreign Exchange Contracts |
| Securities with Embedded FDI/Leverage | Warrants Stock Purchase Rights |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to a variety of financial indices through the use of FDI for both EPM and investment purposes. The Sub-Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub-Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Commodity Indices to provide exposure to commodity sectors such as energy and industrial metals as the Sub-fund will not invest in commodities directly. | Bloomberg Commodity Index S&P GSCI Index |
| Equity indices to provide exposure to regional and global equity markets in a more cost effective or efficient manner than buying physical securities. | MSCI AC World NR Index |

These financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track these indices it will not be directly impacted by the indices rebalancing, associated costs or any stock weighting which would exceed the permitted investment restrictions.
Details on where to find additional information on the indices named above are given under the heading
‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where additional information can be found, will be set out in the
Company’s semi-annual and annual accounts.

#### Registration in Germany
This Sub-Fund is registered for sale in Germany. The Sub- Fund is classified as an Equity Fund for German tax purposes and as such it will permanently invest more than 50% of its assets in equities as defined in article 2 paragraph 8 of the German Investment Tax Act.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 100% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions
and limits set out in the Central Bank UCITS Regulations. Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. securities lending arrangements and repurchase/reverse repurchase
agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of SFTs shall be 100% of the Net Asset Value of the Sub-
Fund. However, it is not anticipated that the Sub-Fund’s
exposure to the SFTs will exceed 15% of the Net Asset
Value. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1€, 1USD, 1GBP, 1CHF or 1SGD depending on the currency of the relevant
class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating shares, the declared dividends will normally be paid on or before 11 February. Further details
are set out under the heading “The Company Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.

#### Risk Factors
Investors’ attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Absolute Return Global Convertible Fund

### SUPPLEMENT 47 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund will invest principally in FDI and will use FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- The Sub-Fund’s Net Asset Value may have a high level of volatility due to its investment policy.
- An Investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.
- The Sub-Fund may invest substantially in deposits with credit institutions. Although the Sub-Fund may invest in money market instruments and cash deposits, Shares in the Sub-Fund are not deposits and are different in nature to a deposit in that the investment is not guaranteed and the value of the investment is capable of fluctuation. Investment in the Sub-Fund involves certain investment risks, including the possible loss of principal.


#### The Investment Manager
Insight Investment Management (Global) Limited.
The Investment Manager may delegate its investment management functions to a Sub-Investment Manager and/or appoint a sub-investment adviser to provide investment advice in accordance with the requirements of the Central Bank. As at the date of this Supplement, the Investment Manager has appointed the Sub- Investment Manager, as described below.

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its
investment management functions with respect to this Sub-Fund to Insight North America LLC (the “Sub- Investment Manager”). Details of the Sub-Investment
Management Agreement between the Investment Manager and the Sub-Investment Manager are set out
under the heading “Sub-Investment Managers” in the
Prospectus.

#### Base Currency
Euro

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “R” Shares and “R (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Share Class Performance Benchmark | Hurdle Rate |
| Euro R (Acc.) | EUR | 5,000 | 5% | 1.50% | 0% | 15% | 1 Month EURIBOR | 1 Month EURIBOR |
| Euro R (Inc.) | EUR | 5,000 | 5% | 1.50% | 0% | 15% | 1 Month EURIBOR | 1 Month EURIBOR |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Share Class Performance Benchmark | Hurdle Rate |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sterling R (Acc.) (hedged) | GBP | 5,000 | 5% | 1.50% | 0% | 15% | SONIA (30- day com- pounded) | SONIA (30- day com- pounded) + 0.04% |
| Sterling R (Inc.) (hedged) | GBP | 5,000 | 5% | 1.50% | 0% | 15% | SONIA (30- day com- pounded) | SONIA (30- day com- pounded) + 0.04% |
| USD R (Acc.) (hedged) | USD | 5,000 | 5% | 1.50% | 0% | 15% | SOFR (30-day compounded) | SOFR (30-day compounded) + 0.12% |
| USD R (Inc.) (hedged) | USD | 5,000 | 5% | 1.50% | 0% | 15% | SOFR (30-day compounded) | SOFR (30-day compounded) + 0.12% |
| CHF R (Acc.) (hedged) | CHF | 5,000 | 5% | 1.50% | 0% | 15% | SARON (30- day com- pounded) | SARON (30- day com- pounded) |
| JPY R (Acc.) (hedged) | JPY | 500,000 | 5% | 1.50% | 0% | 15% | TONAR (30- day com- pounded) | TONAR (30- day com- pounded) |

| “D” Shares and “D (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Share Class Performance Benchmark | Hurdle Rate |
| Euro D (Acc.) | EUR | 5,000 | 5% | 1.00% | 0% | 15% | 1 Month EURIBOR | 1 Month EURIBOR |
| Euro D (Inc.) | EUR | 5,000 | 5% | 1.00% | 0% | 15% | 1 Month EURIBOR | 1 Month EURIBOR |
| Sterling D (Acc.) (hedged) | GBP | 5,000 | 5% | 1.00% | 0% | 15% | SONIA (30- day com- pounded) | SONIA (30- day com- pounded) + 0.04% |
| USD D (Acc.) (hedged) | USD | 5,000 | 5% | 1.00% | 0% | 15% | SOFR (30-day compounded) | SOFR (30-day compounded) + 0.12% |
| CHF D (Acc.) (hedged) | CHF | 5,000 | 5% | 1.00% | 0% | 15% | SARON (30- day com- pounded) | SARON (30- day com- pounded) |
| JPY D (Acc.) (hedged) | JPY | 500,000 | 5% | 1.00% | 0% | 15% | TONAR (30- day com- pounded) | TONAR (30- day com- pounded) |

| “S” Shares and “T (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Share Class Performance Benchmark | Hurdle Rate |
| Euro S (Acc.) | EUR | 5,000,000 | 5% | 1.00% | 0% | 15% | 1 Month EURIBOR | 1 Month EURIBOR |
| Euro S (Inc.) | EUR | 5,000,000 | 5% | 1.00% | 0% | 15% | 1 Month EURIBOR | 1 Month EURIBOR |
| Sterling T (Acc.) (hedged) | GBP | 5,000,000 | 5% | 1.00% | 0% | 15% | SONIA (30- day com- pounded) | SONIA (30- day com- pounded) + 0.04% |
| Sterling T (Inc.) (hedged) | GBP | 5,000,000 | 5% | 1.00% | 0% | 15% | SONIA (30- day com- pounded) | SONIA (30- day com- pounded) + 0.04% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Share Class Performance Benchmark | Hurdle Rate |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| USD T (Acc.) (hedged) | USD | 5,000,000 | 5% | 1.00% | 0% | 15% | SOFR (30-day compounded) | SOFR (30-day compounded) + 0.12% |
| CHF T (Acc.) (hedged) | CHF | 5,000,000 | 5% | 1.00% | 0% | 15% | SARON (30- day com- pounded) | SARON (30- day com- pounded) |
| JPY T (Acc.) (hedged) | JPY | 500,000,000 | 5% | 1.00% | 0% | 15% | TONAR (30- day com- pounded) | TONAR (30- day com- pounded) |

| “U” Shares and “U (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Share Class Performance Benchmark | Hurdle Rate |
| Euro U (Acc.) | EUR | 15,000,000 | 5% | 0.75% | 0% | 15% | 1 Month EURIBOR | 1 Month EURIBOR |
| Euro U (Inc.) | EUR | 15,000,000 | 5% | 0.75% | 0% | 15% | 1 Month EURIBOR | 1 Month EURIBOR |
| Sterling U (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.75% | 0% | 15% | SONIA (30- day com- pounded) | SONIA (30- day com- pounded) + 0.04% |
| Sterling U (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.75% | 0% | 15% | SONIA (30- day com- pounded) | SONIA (30- day com- pounded) + 0.04% |
| USD U (Acc.) (hedged) | USD | 15,000,000 | 5% | 0.75% | 0% | 15% | SOFR (30-day compounded) | SOFR (30-day compounded) + 0.12% |
| USD U (Inc.) (hedged) | USD | 15,000,000 | 5% | 0.75% | 0% | 15% | SOFR (30-day compounded) | SOFR (30-day compounded) + 0.12% |
| CHF U (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.75% | 0% | 15% | SARON (30- day com- pounded) | SARON (30- day com- pounded) |
| JPY U (Acc.) (hedged) | JPY | 1,500,000,000 | 5% | 0.75% | 0% | 15% | TONAR (30- day com- pounded) | TONAR (30- day com- pounded) |

| “F” Shares and “F (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Share Class Performance Benchmark | Hurdle Rate |
| Euro F (Acc.) | EUR | As agreed | 5% | 0.35% | 0% | 15% | 1 Month EURIBOR | 1 Month EURIBOR |
| Sterling F (Acc.) (hedged) | GBP | As agreed | 5% | 0.35% | 0% | 15% | SONIA (30- day com- pounded) | SONIA (30- day com- pounded) + 0.04% |
| USD F (Acc.) (hedged) | USD | As agreed | 5% | 0.35% | 0% | 15% | SOFR (30-day compounded) | SOFR (30-day compounded) + 0.12% |
| CHF F (Acc.) (hedged) | CHF | As agreed | 5% | 0.35% | 0% | 15% | SARON (30- day com- pounded) | SARON (30- day com- pounded) |
| JPY F (Acc.) (hedged) | JPY | As agreed | 5% | 0.35% | 0% | 15% | TONAR (30- day com- pounded) | TONAR (30- day com- pounded) |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Manage- ment Charge | Redemption Fee | Performance Fee | Share Class Performance Benchmark | Hurdle Rate |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% | None | 1 Month EURIBOR | None |
| Sterling X (Acc.) (hedged) | GBP | None | 0% | 0% | 0% | None | SONIA (30- day com- pounded) | None |
| USD X (Acc.) (hedged) | USD | None | 0% | 0% | 0% | None | SOFR (30-day compounded) | None |
| CHF X (Acc.) (hedged) | CHF | None | 0% | 0% | 0% | None | SARON (30- day com- pounded) | None |
| JPY X (Acc.) (hedged) | JPY | None | 0% | 0% | 0% | None | TONAR (30- day com- pounded) | None |


#### Performance Fee
In addition to the annual management charge, the Manager will be entitled to an annual performance fee
(the “Performance Fee”) subject to the conditions outlined
below. The rate at which the Performance Fee shall be
applied is set out in the table above. Performance Fees reduce the value of your investment and the investment return you will receive.
The Performance Fee in respect of each relevant Share Class is calculated as the performance fee rate (set out in the table above) of the Share Class Return (as defined below) over the Hurdle Rate Return (as defined below), subject to a High Water Mark (as defined below) 
1
.
The Performance Fee will be calculated in respect of
each twelve-month period ending on the 31 December (the “Calculation Period”). The first Calculation Period will be the period commencing on the Business Day
immediately following the closing of the Initial Offer Period and ending on 31 December of the same year.
The “Share Class Return” is calculated on each Valuation Day and is the percentage difference between the
Adjusted Net Asset Value on such Valuation Day and the Adjusted Net Asset Value on the previous Valuation Day.
The “Adjusted Net Asset Value” is the Net Asset Value of the relevant share class (which includes an accrual for all fees and expenses including the annual management
charge and the operating and administrative expenses to be borne by the relevant share class, adjusted for any dividend distributions) but without deduction of any Performance Fee accrued since the start of the Calculation Period.
The “Hurdle Rate” is the rate set out in the table above. A hurdle rate is a predetermined level of return a fund must exceed to earn a performance fee.
The “Hurdle Rate Return” is calculated on each Valuation Day and is defined as the greater of (i) the return of the
Hurdle Rate (expressed as a percentage); or, (ii) zero percent (0%). The “Hurdle Rate” is set out in the table above and is calculated over a 365 day basis for SONIA
(30-day compounded) and over a 360 day basis for 1 Month EURIBOR, SOFR (30-day compounded), SARON (30- day compounded) and TONAR (30-day compounded).
The “High Water Mark” is defined as the greater of (i) the highest Net Asset Value per Share on which a
Performance Fee was paid on the last day of any previous Calculation Period; or, (ii) the initial issue price per Share of each Class.
On each Valuation Day, an Adjusted Net Asset Value is calculated in respect of each share class for which the Performance Fee applies. If the Adjusted Net Asset Value of the relevant share class exceeds the High Water Mark and the Share Class Return exceeds the Hurdle Rate Return, a Performance Fee is accrued.
The use of a High Water Mark ensures that you will not be charged a Performance Fee until any previous underperformance of the Share Class Return is clawed back. Accordingly, no Performance Fee will be charged unless the Adjusted Net Asset Value per Share at the end of the Calculation Period (or at the time of redemption, in the case of a merger subject to the requirements of the Central Bank), the date of termination of the Management Agreement or such other date on which the Company or the Sub-Fund may be liquidated or cease trading) is greater than the High Water Mark. You should note that relative underperformance of Share Class
Return against Hurdle Rate Return in previous Calculation Periods will not be clawed back.
Where the Hurdle Rate would be less than zero percent (0%), a minimum Hurdle Rate Return of zero percent (0%) will be applied in calculating any Performance Fee. This means that you will not be charged a Performance Fee unless the Share Class Return is greater than zero percent (0%) and that any Performance Fees accrued will be limited to the outperformance achieved above zero percent (0%) i.e. Performance Fees are not charged in times of negative performance.
If the Share Class Return does not exceed the Hurdle Rate Return, the Performance Fee accrual is reduced (not below zero). The Performance Fee is reduced by an amount calculated as the performance fee percentage (as set out in the table above) of the underperformance of the Share Class Return against the Hurdle Rate Return
1 
Investors should be aware that the following Sub-Funds of the Company apply a different definition of “High Water Mark” when calculating the performance fee for appropriate share classes: BNY Mellon Absolute Return Equity Fund and BNY Mellon Absolute Return Bond Fund. Further details on the performance fee calculation for these Sub-Funds are set out in the relevant Supplements for these Sub-Funds.
(the negative return) multiplied by the Shares in issue. Once the Performance Fee accrual has been reduced to zero, no new Performance Fee is accrued until (i) the cumulative Share Class Return exceeds the cumulative Hurdle Rate Return since the beginning of the Calculation Period; and, (ii) the Adjusted Net Asset Value of the relevant share class exceeds the High Water Mark.
The Performance Fee accrued on each Valuation Day is reflected in the Net Asset Value per Share on the basis of which subscriptions, redemptions, switches or transfers may be accepted.
Included in the calculation of the Performance Fee shall be net realised and unrealised capital gains plus net realised and unrealised capital losses as at the end of the relevant period. As a result, Performance Fees may be paid on unrealised gains which may subsequently never be realised.
Positive performance may be generated by market movements as well as active portfolio management; this may lead to circumstances where a portion of the Performance Fee is paid based on market movements.
The calculation of the Performance Fee is not open to the possibility of manipulation and shall be verified by the Depositary.
The Performance Fee is calculated and accrued on each Valuation Day and paid yearly in arrears, in respect of each Calculation Period. Any Performance Fee due will generally be paid within 30 Business Days after the end of each Calculation Period, the date of any redemption, the date of a merger (subject to the requirements of the Central Bank), the date of termination of the Management Agreement or such other date on which the Company or the Sub-Fund may be liquidated or cease trading.

##### Examples of how the performance fee will be calculated
Please note the performance fee model does not allow for performance fees to be charged in cases of negative performance.
| Valuation Day | Adjusted Net Asset Value at end of Calculation Period | High Water Mark | Hurdle Rate Return ex- pressed in pence | Excess Return expressed in pence* | Performance Fee** | Net Asset Value at end of Calculation Period | Description of the example |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 31 December (year one) | 105p | 100p | 102p | 3p | 0.45p | 104.55p | Performance was positive over the Calculation Period as the Adjusted Net Asset Value of 105p at end of year one, was higher than the initial issue price of 100p. In addition, the Adjusted Net Asset Value is above the High Water Mark of 100p AND the Excess Return of 3p is positive. Therefore, a Performance Fee of 0.45p was paid. |
| 31 December (year two) | 95p | 104.55p | 106p | 0p | 0p | 95p | Performance was negative over the Calculation Period as the Adjusted Net Asset Value of 95p at the end of year two, was below the Net Asset Value of 104.55p at the end of year one. Therefore, no Performance Fee was paid. |
| 31 December (year three) | 104p | 104.55p | 97p | 0p | 0p | 104p | Performance was positive over the Calculation Period as the Adjusted Net Asset Value of 104p at end of year three was higher than the Net Asset Value of 95p at end of year two. However, the Adjusted Net Asset Value of 104p was below the High Water Mark of 104.55p, resulting in Excess Return being zero. Therefore, no Performance Fee was paid. |

| Valuation Day | Adjusted Net Asset Value at end of Calculation Period | High Water Mark | Hurdle Rate Return ex- pressed in pence | Excess Return expressed in pence* | Performance Fee** | Net Asset Value at end of Calculation Period | Description of the example |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 31 December (year four) | 110p | 104.55p | 108p | 2p | 0.30p | 109.7p | Performance was positive over the Calculation Period as the Adjusted Net Asset Value of 110p at end of year four was higher than the Net Asset Value of 104p at end of year three. In addition, the Adjusted Net Asset Value is higher than the High Water Mark of 104.55p AND the Excess Return of 2p is positive. Therefore, a Performance Fee of 0.30p was paid. |

*Excess Return is the outperformance of the Share Class Return over the Hurdle Rate Return where the Adjusted Net Asset Value has exceeded the High Water Mark.
**15% of Excess Return

#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to deliver a positive return in all market conditions, however positive returns are not guaranteed.

##### Investment Policy
The Sub-Fund aims to achieve its investment objective on a rolling 3 year basis, after fees.
The Sub-Fund will gain exposure directly, or indirectly through FDI’s, to convertible bonds (including mandatory convertible bonds), equity and equity-related securities,
and other debt and debt-related securities (as defined below) on a long and short basis.
The Sub-Fund may invest more than 100% of its Net Asset Value in convertible bonds (including mandatory convertible bonds).
The equity and equity-related securities that the Sub- Fund may invest in directly, or indirectly through FDI, include equities, warrants, preference shares, exchange
traded funds (“ETFs”), exchange traded notes (“ETNs”), American depositary receipts (“ADRs”), global depository receipts (“GDRs”) and hybrids (such as exchangeable
bonds, perpetual bonds, deferrable interests i.e.
cumulative and non-cumulative bonds and trust preferred securities) (hereinafter “Equity and Equity-Related Securities”).
ETNs may be used to provide exposure to financial indices including the volatility and equity indices listed
below under the heading “Financial Indices”. The Sub- Fund’s main equity exposure will be through short positions in the equities of companies to which it has
obtained exposure through investing in convertible bonds, debt and debt-related securities (as defined below) or Equity and Equity-Related Securities. Long positions in equities may be held if a convertible bond converts to equity.
The Sub-Fund may invest in fixed and floating rate government debt and debt-related securities (such as fixed rate bonds, index-linked bonds and zero coupon treasury bills), corporate debt-related securities (such as fixed and floating rate notes, agency bonds, municipal bonds, covered bonds, puttable and callable bonds as well as eurobonds and bullet bonds), money market instruments (such as certificate of deposits and commercial paper and overnight deposits) and asset- backed and mortgage-backed securities (hereinafter
“Debt and Debt-Related Securities”). The Sub-Fund may
invest in Debt and Debt-Related securities either directly
or indirectly through FDI.
There will be no minimum credit rating applied to investments of the Sub-Fund. The Sub-Fund may invest in investment grade, sub-investment grade (i.e. instruments rated below BBB- (or equivalent) as rated by a Recognised Rating Agency) and unrated instruments.
The majority of convertible bonds are unrated therefore the Sub-Fund may have significant exposure to unrated instruments which may be considered equivalent to sub- investment grade instruments. The Sub-Fund may also invest in cash deposits.
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in collective investment schemes
(“CIS”) including CIS which provide exposure to
convertible bonds, Debt and Debt-Related Securities and
Equity and Equity-Related Securities, money market funds, volatility indices and other Irish UCITS advised by the Investment Manager. The CIS in which the Sub-Fund may invest include ETFs. Any investment in ETFs will be in accordance with the investment limits for CIS. The Sub-Fund may also invest in closed-ended CIS in accordance with the investment limits for transferable
securities, as set out under the heading “The Company - Investment and Borrowing Restrictions” in the Prospectus.
The Sub-Fund intends to invest globally with no
particular industry or sector focus, however the Sub-Fund may at times be concentrated in particular industry or geographical sectors depending on where the Investment Manager sees investment opportunity.
The Sub-Fund may invest over 20% of its Net Asset Value in emerging market countries, including Russia, China and India. The Sub-Fund may invest in securities which provide exposure to Russian issuers which are traded on an Eligible Market, but may only invest up to 10% of its Net Asset Value in securities listed or traded on the Moscow Exchange. The Sub-Fund may gain indirect exposure to China and India through convertible bonds which may convert into equities, ADRs or GDRs. None of the convertible bonds, the equities, ADRs/GDRs will be held in the local market. Prior to gaining direct exposure to India, the Investment Manager will update the Supplement to provide information on the relevant local licences and sub-custodial arrangements and will ensure these are in place. The Sub-Fund may gain exposure to Chinese securities through purchasing China H-shares listed or traded on the Hong Kong Stock Exchange, China B-shares listed or traded on the Shanghai Stock Exchange or the Shenzhen Stock Exchange or China A- shares via the Stock Connect. The Sub-Fund may invest up to 10% of its Net Asset Value in China A-shares via the Stock Connect. Further details about the Stock Connect are set out in Appendix V to the Prospectus.
With the exception of permitted investment in unlisted securities and CIS other than ETFs, the Sub-Fund’s investments will be listed or traded on Eligible Markets
listed in Appendix II of the Prospectus.
Whilst the Sub-Fund's Base Currency is Euro, the Sub- Fund may invest in non-Euro denominated assets which will generally be hedged back to Euro using currency- related FDI. The currency-related FDI which may be used by the Sub-Fund for hedging purposes are further
described in the Prospectus in the section “Financial Derivative Instruments and Techniques”.

##### Cash and Collateral Management
The Sub-Fund will hold cash and liquid near cash assets in certain circumstances, such as meeting redemptions, facilitating payment of expenses, holding cash on deposit pending reinvestment and to provide collateral to support FDI exposure.
In addition, in certain circumstances, the Sub-Fund may
hold high levels of cash and liquid near cash assets (i.e. up to 100% of the Sub-Fund’s Net Asset Value) for example, where there is extreme volatility, where there is
a risk to the Sub-Fund not achieving its performance objective or where market conditions require a defensive investment strategy.
Liquid near cash assets may include cash deposits, and any of the fixed and floating rate Debt and Debt-Related Securities as described above where is intended that issuers and/or guarantors of any such Debt and Debt- Related Securities and bank deposits will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a Recognised Rating Agency, or will be deemed by the Investment Manager to be of equivalent quality.

##### Benchmark
1 Month EURIBOR (the “Cash Benchmark”).
EURIBOR is the Euro Interbank Offer Rate and is a reference rate that is constructed from the average interest rate at which Eurozone banks offer unsecured short-term lending on the inter-bank market.
The Sub-Fund uses the Cash Benchmark as a target against which to measure its performance on a rolling annualised 3-year basis before fees.
The Sub-Fund is actively managed, which means the Investment Manager has discretion over the selection of investments, subject to the investment objective and policy.

##### Investment Strategy
The Sub-Fund seeks to generate returns predominantly through direct or indirect long investment in convertible bonds and equity-linked securities and short investments in the corresponding equities. The Sub-Fund may seek to hold synthetic short positions in equity swaps, bond swaps (including convertible bond swaps), credit default
swaps (“CDS”), bond futures, total return swaps,
contracts for difference and forward foreign exchange
contracts.
The Sub Fund will seek to take advantage of valuation anomalies of investments, i.e. searching for investments that the Investment Manager believes to be over-valued or under-valued. These valuations can be determined on an absolute basis (i.e. value derived by considering the security and its issuer on their own) or on a relative basis (i.e. value compared to peers and the general market).
The absolute and relative valuation trading opportunities can arise based on a number of factors, including mispricing of volatility (e.g. the actual price of securities differs from the theoretical valuation), market uncertainty (e.g. causing volatility and similar mispricing), credit vs equity values e.g. price differences between the credit and equity of the same issuer or of companies within the same industry) and pricing differences between instruments in different parts of the capital structure of the same issuer.
The Investment Manager will construct the investment portfolio using a combination of a bottom-up and top- down approach to determine whether a security is under or over-valued. The bottom up process is based on analysis of industries and companies to identify potential investment candidates using a combination of quantitative modelling, equity and credit analysis (e.g. a review of financial statements such as balance sheets and income statements to assess credit worthiness and earnings prospects), current and historical pricing of similar securities and third-party research.
The top-down process consists of analysis of global movements in equity, credit and interest rates and their
anticipated effect on the investment portfolio. The “best in class” candidates for potential selection into the Sub- Fund will be identified.

##### The Sustainable Finance Disclosure Regulation
When assessing the sustainability risk associated with underlying investments of the Sub-Fund, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively
impacted by an ESG event or condition (“ESG Event”).
Sustainability risks are managed by ensuring senior
decision makers are informed and included in the Investment Manager’s responsible investment programme, and set effective accountability,
transparency and implementation procedures. Where sustainability risk issues are considered material to investment outcomes, they are incorporated into due
diligence processes. This may include evaluating individual securities and/or interaction with issuers or market participants. Internal controls ensure sustainability criteria are applied to The Sub-Fund continuously. ESG restrictions, which includes proprietary ESG ratings and third-party data, are set to prevent or permit investment in securities that meet sustainability- related characteristics. These controls are coded against the Sub-Fund and updated as new information is absorbed.
Corporate governance is a key sustainability risk factor forming part of proprietary ESG risk ratings for all issuers. The Investment Manager's corporate governance assessment includes evaluating board practices and behaviour, remuneration, control and accountability, and ethics or controversies. The Investment Manager applies the insights from ESG ratings alongside their own
knowledge of issuers’ governance structures to set
engagement priorities with issuers. The Investment
Manager considers these risks together to decide whether an investment reasonably compensates a fund for sustainability risks over the long and short-term.
In terms of social and environmental factors, the Investment Manager’s proprietary ESG ratings methodology provides sector specific and issuer specific
information on key issues. This model helps the Investment Manager to identify key risks that a specific sector or issuer may be facing.
The Sub-Fund may underperform or perform differently relative to other comparable funds that do not integrate sustainability risks into their investment decisions and there is a risk that that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange traded and OTC FDI for investment purposes:
| Futures | Equity Futures Currency Futures Interest Rate Futures (including Short Term Interest Rate Futures) Government Bond Futures Bond Futures Futures on financial indices |
| --- | --- |
| Options | Currency Options (including Barrier Options) Options on Interest Rate Futures Equity Options Bond Options Options on Bond Futures Interest Rate Options Options on Credit Default Swaps Options on Volatility Indices Index Options |
| Forwards | Forward Foreign Exchange Contracts |
| Swaps | Credit Default Swaps (“CDS”) (single name and index) Equity Swaps (including single name and portfolio swaps) Bond Swaps including Convertible Bond Swaps (including single name and portfolio swaps) Interest Rate Swaps Asset Swaps Total Return Swaps, including contracts for difference (single name, index, and basket (in the case of the latter, underlying components of which can be grouped by sector, geography or other characteristics)) |
| Securities with Em- bedded FDI/ Leverage | Convertible Bonds Callable and Puttable Bonds Certain Asset-Backed Securities (ABS) and certain Mortgage-Backed Securities (MBS) Warrants ETFs (only synthetic ETFs will embed FDI/ leverage, physical ETFs will not embed FDI/ leverage) ETNs |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial
purpose, are described in the Prospectus in the section entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit CDX North American High Yield Index Markit CDX North American Investment Grade Index Markit iTraxx Europe Main (Investment Grade) Index Markit iTraxx Europe Crossover (High Yield) Index Markit iTraxx Europe High Yield Index |

The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub- Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Equity indices to provide exposure to regional and global equity markets in a more cost effective or efficient manner than buying the physical securities. | S&P 500 Index Nasdaq 100 Index Euro Stoxx 50 Index Euro Stoxx 600 Index Nikkei 225 Index FTSE 100 Index Hang Seng Index |
| Total Return Swap (TRS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying physical securities. | Markit iBoxx USD Liquid High Yield Index |
| Volatility indices to provide exposure express the Investment Manager’s view on the volatility of a particular market or currency in a more cost effective or efficient manner than buying the physical securities. | CBOE Volatility Index (VIX) |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. The remaining financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX–Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where additional information can be found, will be set out in the
Company’s semi-annual and annual accounts.

##### Long and Short Positions
The Sub-Fund may employ synthetic long and synthetic short exposures in each of the asset classes referenced in the Investment Policy to achieve its investment objective. The total net long exposure (after taking account of hedging) through FDI is not expected to exceed 500% of the Net Asset Value of the Sub-Fund and the total net short exposure is not expected to exceed 500% of the Net Asset Value of the Sub-Fund (using the commitment approach).

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Absolute VaR
Absolute VaR Limit: 6% of the Net Asset Value of the Sub-Fund (using a 5 Business Day holding period)
Gross leverage is expected to vary between: 50 – 1000% of the Net Asset Value. The gross leverage may exceed this target level at times
For more information on the Absolute VaR approach and Gross Leverage, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and
warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in SFTs, i.e. securities lending arrangements and
repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 500% and in respect of SFTs shall be 100% of the Net Asset Value of the Sub-Fund. However, it is
not anticipated that the Sub-Fund’s exposure in respect
of TRS will exceed 400% and in respect of SFTs will
exceed 30% of the Net Asset Value of the Sub-Fund. The types of assets that will be subject to TRS and SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1€, 1£, 1USD, 1CHF or 100¥ depending on the currency of the relevant
class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will be declared annually on 31 December. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February. Further details are set out under the heading "The Company - Distribution
Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are set out under the sub-heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.
The fees and expenses relating to the establishment and
organisation of the Sub-Fund including the fees of the Sub-Fund’s professional advisers will be borne by the Sub-Fund. Such fees and expenses are estimated not to exceed €35,000 and will be borne by the Sub-Fund and will be amortised over a period of up to 3 years from the
date of the launch of the Sub-Fund.

#### Risk Factors
Investors’ attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Floating Rate Credit Fund

### SUPPLEMENT 48 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- Management fees and other fees and expenses of the Sub-Fund will be charged to the capital of the Sub-Fund to seek to maximise distributions. See “Fees and Expenses” in the Prospectus for further details.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
Alcentra Limited
Alcentra Limited (“Alcentra”) is a global investment firm headquartered in London, at 160 Queen Victoria Street, London EC4V 4LA, United Kingdom. Alcentra is focused
on sub-investment grade corporate credit in Europe and the United States. Through holding companies, Alcentra Limited is a subsidiary of the Bank of New York Mellon Corporation and is regulated by the Financial Conduct
Authority (“FCA”).

#### Base Currency
Euro

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro A (Acc.) | EUR | 5,000 | 5% | 1.50% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 1.50% | 0% |
| USD H (Acc.) (hedged) | USD | 5,000 | 5% | 1.50% | 0% |
| USD H (Inc.) (hedged) | USD | 5,000 | 5% | 1.50% | 0% |
| CHF H (Acc.) (hedged) | CHF | 5,000 | 5% | 1.50% | 0% |
| CAD H (Inc.) (hedged) | CAD | 5,000 | 5% | 1.50% | 0% |
| SGD H (Inc.) (hedged) | SGD | 5,000 | 5% | 1.50% | 0% |
| AUD H (Inc.) (hedged) | AUD | 5,000 | 5% | 1.50% | 0% |
| SEK H (Acc.) (hedged) | SEK | 50,000 | 5% | 1.50% | 0% |
| DKK H (Acc.) (hedged) | DKK | 50,000 | 5% | 1.50% | 0% |
| NOK H (Acc.) (hedged) | NOK | 50,000 | 5% | 1.50% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro G (Acc.) | EUR | 5,000 | 5% | 0.65% | 0% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 0.65% | 0% |
| USD G (Acc.) (hedged) | USD | 5,000 | 5% | 0.65% | 0% |
| USD G (Inc.) (hedged) | USD | 5,000 | 5% | 0.65% | 0% |
| Sterling G (Acc.) (hedged) | GBP | 5,000 | 5% | 0.65% | 0% |
| Sterling G (Inc.) (hedged) | GBP | 5,000 | 5% | 0.65% | 0% |
| CHF G (Acc.) (hedged) | CHF | 5,000 | 5% | 0.65% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro C (Acc.) | EUR | 5,000,000 | 5% | 0.65% | 0% |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 0.65% | 0% |
| USD I (Acc.) (hedged) | USD | 5,000,000 | 5% | 0.65% | 0% |
| USD I (Inc.) (hedged) | USD | 5,000,000 | 5% | 0.65% | 0% |
| CHF I (Acc.) (hedged) | CHF | 5,000,000 | 5% | 0.65% | 0% |
| JPY I (Inc.) (hedged) | JPY | 500,000,000 | 5% | 0.65% | 0% |
| JPY I (Acc.) (hedged) | JPY | 500,000,000 | 5% | 0.65% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro W (Acc.) | EUR | 15,000,000 | 5% | 0.50% | 0% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.50% | 0% |
| USD W (Acc.) (hedged) | USD | 15,000,000 | 5% | 0.50% | 0% |
| USD W (Inc.) (hedged) | USD | 15,000,000 | 5% | 0.50% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.50% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.50% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.50% | 0% |
| JPY W (Acc.) (hedged) | JPY | 1,500,000,000 | 5% | 0.50% | 0% |
| JPY W (Inc.) (hedged) | JPY | 1,500,000,000 | 5% | 0.50% | 0% |
| AUD W (Acc.) (hedged) | AUD | 15,000,000 | 5% | 0.50% | 0% |
| AUD W (Inc.) (hedged) | AUD | 15,000,000 | 5% | 0.50% | 0% |
| SGD W (Acc.) (hedged) | SGD | 15,000,000 | 5% | 0.50% | 0% |
| CAD W (Inc.) (hedged) | CAD | 15,000,000 | 5% | 0.50% | 0% |
| DKK W (Acc.) (hedged) | DKK | 150,000,000 | 5% | 0.50% | 0% |
| NOK W (Acc.) (hedged) | NOK | 150,000,000 | 5% | 0.50% | 0% |
| SEK W (Acc.) (hedged) | SEK | 150,000,000 | 5% | 0.50% | 0% |

| “E” Shares and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro E (Acc.) | EUR | As agreed | 5% | 0.10% | 0% |
| Euro E (Inc.) | EUR | As agreed | 5% | 0.10% | 0% |
| USD E (Acc.) (hedged) | USD | As agreed | 5% | 0.10% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| USD E (Inc.) (hedged) | USD | As agreed | 5% | 0.10% | 0% |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.10% | 0% |
| Sterling E (Inc.) (hedged) | GBP | As agreed | 5% | 0.10% | 0% |
| CHF E (Acc.) (hedged) | CHF | As agreed | 5% | 0.10% | 0% |
| DKK E (Acc.) (hedged) | DKK | As agreed | 5% | 0.10% | 0% |
| NOK E (Acc.) (hedged) | NOK | As agreed | 5% | 0.10% | 0% |
| SEK E (Acc.) (hedged) | SEK | As agreed | 5% | 0.10% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) | EUR | None | 0% | 0% | 0% |
| USD X (Acc.) (hedged) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) (hedged) | USD | None | 0% | 0% | 0% |
| Sterling X (Acc.) (hedged) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) (hedged) | GBP | None | 0% | 0% | 0% |
| CHF X (Acc.) (hedged) | CHF | None | 0% | 0% | 0% |
| JPY X (Inc.) (hedged) | JPY | None | 0% | 0% | 0% |
| JPY X (Acc.) (hedged) | JPY | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to provide returns greater than the benchmark detailed below on a 3 year rolling basis before fees.

##### Investment Policy
The Sub-Fund aims to achieve its investment objective by investing primarily (meaning at least 70% of its Net Asset Value) in a portfolio of floating rate assets including
floating rate notes (“FRNs”), collateralised loan obligations (“CLOs”) and loans, together “Floating Rate Assets” which may be issued as 144A or Reg S bonds. The Sub-Fund may invest up to 10% of its Net Asset
Value in loans, including leveraged loans, loan participations and loan assignments. The Sub-Fund may also invest in other debt and debt-related securities (as defined below). The Floating Rate Assets and debt and debt-related securities may be held directly and indirectly through FDI.High yield FRNs (with a typical five to eight year term to maturity) are an increasingly large component of the sub-investment grade (i.e. instruments rated below BBB- or equivalent as rated by a Recognised Rating Agency) credit universe and are predominantly issued by corporates. The Sub-Fund will be able to purchase AAA rated down to B rated tranches of European and U.S. CLOs (to the extent that they are compliant with European Risk Retention regulations). The investment focus will be on A, BBB and BB rated CLO tranches.
The Sub-Fund may invest in fixed and floating rate government and corporate debt and debt-related securities such as debentures, bonds (such as toggle
bonds, payment in kind bonds, treasury bonds, callable bonds (including step-up bonds)), notes (variable rate demand notes), unsecured obligations (such as high yield bonds, fixed and floating rate sub-investment grade corporate bonds and unsecured obligations of financial institutions such as subordinated bonds issued by North American and European banks), hybrids (such as perpetual bonds, deferrable interests i.e. cumulative and
non-cumulative bonds and trust preferred securities), asset-backed securities (“ABS”) and money market instruments (such as U.S. treasury bills, certificates of
deposit, commercial paper and term deposits), hereinafter “Debt and Debt-Related Securities”. While investment in unsecured obligations is not a significant
part of the investment strategy, the Sub-Fund could invest up to 25% of its Net Asset Value in unsecured obligations.
The Sub-Fund does not intend to take short positions.
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in open-ended collective investment
schemes (“CIS”) including money market funds and open- ended exchange traded funds (“ETFs”). The Sub-Fund may also hold ancillary liquid assets such as bank deposits.
The Sub-Fund may also hold high levels of cash and
liquid near cash assets in certain circumstances. Please see ‘Cash and Collateral Management’ below for further details.
There will be no minimum credit rating applied to investments of the Sub-Fund. The Sub-Fund may invest in investment grade, sub-investment grade and unrated instruments. In the case of a split rating, the highest rating will be considered. The Sub-Fund will not be restricted by credit quality or maturity when making investment decisions.
The Sub-Fund intends to invest globally with no
particular industry or sector focus, however the Sub-Fund may at times be concentrated in particular industry or geographical sectors depending on where the Investment Manager sees investment opportunity.
The Sub-Fund may invest up to 20% of its Net Asset Value in emerging market countries. The Sub-Fund will not invest in Russia.
With the exception of permitted investment in unlisted securities and open-ended CIS, the Sub-Fund investments shall be listed or traded on Eligible Markets listed in Appendix II of the Prospectus.
Whilst the Sub-Fund’s base currency is Euro, it may invest in non-Euro denominated assets that will be
hedged back into Euro using currency-related FDI. The currency-related FDI which may be used by the Sub-Fund
for hedging purposes are further described in the Prospectus in the section “Financial Derivative Instruments and Techniques”.

##### Cash and Collateral Management
The Sub-Fund will hold cash and liquid near cash assets in certain circumstances, such as meeting redemptions, facilitating payment of expenses, holding cash on deposit pending reinvestment and to provide collateral to support FDI exposure. In exceptional circumstances, the Sub- Fund may temporarily hold high levels of cash and liquid
near cash assets (i.e. up to 100% of the Sub-Fund’s Net
Asset Value) where market conditions may require a
defensive investment strategy (e.g. market crash or major crisis).
Liquid near cash assets may include money market instruments (as detailed above) and bank deposits. It is intended that issuers and/or guarantors of any such securities and instruments will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a Recognised Rating Agency, or will be deemed by the Investment Manager to be of equivalent quality.

##### Benchmark
1 Month EURIBOR (the “Cash Benchmark”).
EURIBOR is the Euro Interbank Offer Rate and is a reference rate that is constructed from the average interest rate at which Eurozone banks offer unsecured short-term lending on the inter-bank market.
The Sub-Fund uses the Cash Benchmark as a target against which to measure its performance on a rolling annualised 3-year basis before fees.
The Sub-Fund is actively managed, which means the Investment Manager has discretion over the selection of investments, subject to the investment objective and policy.

##### Investment Strategy
The Sub-Fund will invest primarily in floating rate assets and will seek to identify investment opportunities that combine an attractive current return with a strong probability of ultimate return of capital. The Sub-Fund is designed to provide income while also protecting against interest rate volatility by maintaining low duration and protecting against capital loss.
The Investment Manager’s process combines both a top down view and bottom-up approach. The process is
predicated on bottom-up fundamental credit research and market analysis with the aim of identifying and exploiting market inefficiencies in leveraged finance markets. The Investment Manager favours sectors with attractive asset valuations, stable competitive environments and high barriers to entry. In addition, the Investment Manager selects issuers it believes to have stable-to-improving credit profiles, strong competitive positions, financial flexibility and whose assets, in their view, are fair-to-cheap in valuation. Valuation is determined through assessment of the asset relative to
other assets in the issuer’s capital structure and relative
to other assets in the sector and market.
This detailed bottom-up, fundamental credit research is enhanced with a top-down overlay which is formed from a number of macro and market specific metrics, including regional economic outlook, sector outlooks, path of interest rates and default outlook.
The Investment Manager’s investment process relies on a blend of qualitative and quantitative due diligence, undertaken by a global team of seasoned, experienced
analysts to identify sources of alpha (excess returns) at
sector, issuer and security level. This due diligence includes assessment of an issuer’s credit characteristics, management quality, free cash flow, financial flexibility,
market share, revenue growth, margin trends, access to capital, meetings with senior management at an issuer and attendance at industry specific conferences. The
Investment Manager’s analyst team is organised by
industry sector in High Yield FRN, High Yield Fixed and
leveraged Loan markets, and has an independent team dedicated to the CLO market.
The wider team at Alcentra Limited has a weekly asset allocation committee, which sets target allocations to each asset class and articulates investment themes. Investment themes for the Sub-Fund are then selected through discussion of themes relevant to specific asset classes e.g., credit status of issuers, supply and demand dynamics and valuations. Macro themes are also considered such as region specific growth, inflation, interest rates and default rate outlook. Asset allocation targets are amended based on these discussions and the individual issuer analysis carried out by the Investment Manager.

##### The Sustainable Finance Disclosure Regulation
The management of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying
investments could be materially negatively impacted by an ESG event or condition (“ESG Event”).
Using both quantitative and qualitative processes, sustainability risk is identified, monitored and managed by the Investment Manager in the following manner:
–	Prior to acquiring investments on behalf of a Sub-
Fund, the investment universe is screened using the Investment Manager’s sector exclusion policy, whereby potential investments are removed based on
the sector they operate in, for example controversial weapons. In assessing an investment opportunity, the Investment Manager undertakes a holistic
fundamental analysis of the credit risk of the issuer. A key component of this analysis is an assessment of any material ESG factors that may adversely impact the creditworthiness of an issuer. The process of
integrating ESG factors starts by identifying an issuers’ exposure to material ESG risks, followed by an assessment of the potential financial impact of
those risks. Finally, the Investment Manager assesses the commitment of the issuer to manage exposure to material ESG risks. Given the markets that the Sub- Fund has exposure to, active corporate engagement is the most important tool and forms the basis of the integration and analysis of ESG factors. The Investment Manager has developed an ESG checklist and sector materiality guide which frame the engagement activities. The integration of ESG risk factors culminates with the assignment of a proprietary ESG rating, which informs the Investment
Manager’s credit opinion and portfolio construction
decisions.
–	During the life of the investment, sustainability risk is monitored through reviewing ESG data published by the issuer (where relevant) and an ongoing focus on active corporate engagement to determine whether the level of sustainability risk has changed since the initial assessment was conducted. The Investment
Manager’s assessment of ESG factors is an important
part of the daily credit monitoring process, whereby
the Investment Manager assesses all risks and opportunities related to the issuer. The Investment Manager engages with all issuers on ESG matters annually, however, engagement is more frequent where exposure to material ESG risks is higher. In addition, the Investment Manager tracks ESG engagement to capture and measure the effectiveness of engagement activities. Where the sustainability risk associated with a particular investment has increased beyond the ESG risk
appetite for the Sub-Fund, the Investment Manager will consider selling or reducing the Sub-Fund’s exposure to the relevant investment, taking into
account the best interests of the Shareholders of the Sub-Fund.
As explained above, the management and assessment of
sustainability risks forms an important part of the Investment Manager’s due diligence process, however, there may still be a risk that the value of a Sub-Fund
could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Swaps | Credit Default Swaps (single name and index) Inflation Rate Swaps |
| --- | --- |
| Forwards | Forward Foreign Exchange Contracts |
| Securities with Em- bedded FDI/ Leverage | Callable Bonds (including Step-Up Bonds) ABS |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub- Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit North American High Yield CDX Index Markit North American Investment Grade CDX Index Markit iTraxx Europe Index Markit iTraxx Europe Crossover |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. However, as the Sub- Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX–Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where
additional information can be found, will be set out in the Company’s semi-annual and annual accounts.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Absolute VaR
Absolute VaR Limit: 4.47% of the Net Asset Value of the Sub-Fund (using a 1 Business Day holding period)
Gross leverage is expected to vary between: 100 – 500% of the Net Asset Value. The gross leverage may exceed this target level at times
For more information on the Absolute VaR approach and Gross Leverage, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. securities lending arrangements and repurchase/reverse repurchase
agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of
SFTs shall be 100% of the Net Asset Value of the Sub- Fund. However, it is not anticipated that the Sub-Fund’s exposure to the SFTs will exceed 15% of the Net Asset
Value. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
Shares in available unlaunched share class will be offered during an Initial Offer Period opening at 9.00 a.m. on 4 May, 2022 and closing at 5.00 p.m. on 3 November,
2022 at an initial offer price per Share of 1USD, 1£, 1€,
1CHF, 1AUD, 1CAD, 1SGD, 10DKK, 10NOK, 10SEK or 100¥
depending on the currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11 November respectively. Further details are set out under
the heading "The Company - Distribution Policy” in the
Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.
The fees and expenses relating to the establishment and organisation of the Sub-Fund including the fees of the
Sub-Fund’s professional advisers will be borne by the
Sub-Fund. Such fees and expenses are estimated not to exceed €35,000 and will be borne by the Sub-Fund and will be amortised over a period of up to 3 years from the
date of the launch of the Sub-Fund.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Sustainable Global Real Return Fund (EUR)

### SUPPLEMENT 49 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.
- The Sub-Fund may invest substantially in deposits with credit institutions. Although the Sub-Fund may invest in money market instruments and cash deposits, Shares in the Sub-Fund are not deposits and are different in nature to a deposit in that the investment is not guaranteed and the value of the investment is capable of fluctuation. Investment in the Sub-Fund involves certain investment risks, including the possible loss of principal.


#### The Investment Manager
Newton Investment Management Limited

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its investment management functions with respect to this Sub-Fund to Newton Investment Management North
America LLC (the “Sub-Investment Manager”). Details of
the Sub-Investment Management Agreement between the
Investment Manager and the Sub-Investment Manager are set out under the heading “Sub-Investment Managers” in the Prospectus.

#### Base Currency
Euro

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| Euro A (Acc.) | EUR | 5,000 | 5% | 1.50% | 0% | 1 Month EURIBOR + 4% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 1.50% | 0% | 1 Month EURIBOR + 4% |
| USD H (Acc.) (hedged) | USD | 5,000 | 5% | 1.50% | 0% | SOFR (30-day compounded) + 4% |
| Sterling H (Acc.) (hedged) | GBP | 5,000 | 5% | 1.50% | 0% | SONIA (30-day compounded) + 4% |
| CHF H (Acc.) (hedged) | CHF | 5,000 | 5% | 1.50% | 0% | SARON (30-day compounded) + 4% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| --- | --- | --- | --- | --- | --- | --- |
| AUD H (Acc.) (hedged) | AUD | 5,000 | 5% | 1.50% | 0% | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 4% |
| CAD H (Acc.) (hedged) | CAD | 5,000 | 5% | 1.50% | 0% | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 4% |
| SGD H (Acc.) (hedged) | SGD | 5,000 | 5% | 1.50% | 0% | 1 Month SGD SIBOR + 4% |

| “G” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| Euro G (Acc.) | EUR | 5,000 | 5% | 1.00% | 0% | 1 Month EURIBOR + 4% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 1.00% | 0% | 1 Month EURIBOR + 4% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| Euro C (Acc.) | EUR | 5,000,000 | 5% | 1.00% | 0% | 1 Month EURIBOR + 4% |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 1.00% | 0% | 1 Month EURIBOR + 4% |
| CHF I (Acc.) (hedged) | CHF | 5,000,000 | 5% | 1.00% | 0% | SARON (30-day compounded) + 4% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| Euro W (Acc.) | EUR | 15,000,000 | 5% | 0.75% | 0% | 1 Month EURIBOR + 4% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.75% | 0% | 1 Month EURIBOR + 4% |
| USD W (Acc.) (hedged) | USD | 15,000,000 | 5% | 0.75% | 0% | SOFR (30-day compounded) + 4% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.75% | 0% | SARON (30-day compounded) + 4% |
| AUD W (Acc.) (hedged) | AUD | 15,000,000 | 5% | 0.75% | 0% | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 4% |
| CAD W (Acc.) (hedged) | CAD | 15,000,000 | 5% | 0.75% | 0% | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 4% |
| SGD W (Acc.) (hedged) | SGD | 15,000,000 | 5% | 0.75% | 0% | 1 Month SGD SIBOR + 4% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.75% | 0% | SONIA (30-day compounded) + 4% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.75% | 0% | SONIA (30-day compounded) + 4% |

| “Z” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| Euro Z (Acc.) | EUR | 200,000,000 | 5% | 0.65% | 0% | 1 Month EURIBOR + 4% |
| Euro Z (Inc.) | EUR | 200,000,000 | 5% | 0.65% | 0% | 1 Month EURIBOR + 4% |

| “E” Shares and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| Euro E (Inc.) | EUR | As agreed | 5% | 0.50% | 0% | 1 Month EURIBOR + 4% |
| Euro E (Acc.) | EUR | As agreed | 5% | 0.50% | 0% | 1 Month EURIBOR + 4% |
| USD E (Inc.) (hedged) | USD | As agreed | 5% | 0.50% | 0% | SOFR (30-day compounded) + 4% |
| USD E (Acc.) (hedged) | USD | As agreed | 5% | 0.50% | 0% | SOFR (30-day compounded) + 4% |
| CHF E (Inc.) (hedged) | CHF | As agreed | 5% | 0.50% | 0% | SARON (30-day compounded) + 4% |
| CHF E (Acc.) (hedged) | CHF | As agreed | 5% | 0.50% | 0% | SARON (30-day compounded) + 4% |

| “X” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum In- itial Sales Charge (up to) | Annual Management Charge | Redemption Fee | Share Class Performance Bench- mark |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% | 1 Month EURIBOR + 4% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to achieve a total return in excess of a cash benchmark (as described below) over an investment horizon of 3-5 years by investing in securities that demonstrate attractive investment attributes and are deemed to be sustainable. However, there is no
guarantee that this will be achieved over that, or any, time period.

##### Investment Policy
The Sub-Fund may invest in equity and equity-related securities, debt and debt-related securities, FDI (including currency related FDI), collective investment
schemes (“CIS”), cash and liquid near cash assets.
The Sub-Fund may invest in common shares, preference shares, American depositary receipts, global depository receipts, securities convertible into or exchangeable for
such equities (such as participatory notes (“P-Notes”) including low exercise price options (“LEPOs”) and low exercise price warrants (“LEPWs”)), listed real estate investment trusts (“REITS”) and other closed-ended listed
funds, warrants, stock purchase rights and equity-related FDI (hereinafter “Equity and Equity-Related Securities”).
The Sub-Fund may invest in fixed and floating rate, international, emerging market, sovereign, government, supranational agency, corporate and bank, debt and
debt-related securities such as debentures, notes, bonds, asset-backed securities (“ABS”), mortgage-backed securities (“MBS”), securities convertible into or exchangeable for equities (such as convertible bonds and
contingent convertible securities (“CoCos”)), structured notes, money market instruments (such as certificates of
deposit and commercial paper, short-dated government
bonds and term deposits), exchange traded notes (“ETNs”) (including exchange traded commodities and exchange traded certificates) and debt-related FDI (hereinafter “Debt and Debt-Related Securities”).
The Sub-Fund may invest up to 10% of its Net Asset Value in CoCos. Please see “Contingent Convertible Securities (CoCos) Risk” in the Prospectus for details of the risks associated with CoCos.
The Sub-Fund may invest up to 10% of its Net Asset Value in structured notes.
The Sub-Fund may invest in investment grade and sub- investment grade Debt and Debt-Related Securities (i.e. instruments rated BB+ or below (or equivalent) as rated by a Recognised Rating Agency). Investment in sub-
investment grade Debt and Debt-Related Securities is not expected to exceed 30% of the Sub-Fund’s Net Asset Value and will generally be substantially lower than 30%.
The Sub-Fund will not gain direct exposure to companies that derive more than 10% of their turnover from the production and sale of tobacco and will not engage in securities lending activities.
The Sub-Fund may invest up to 10% of its Net Asset Value in CIS, including open-ended ETFs. The Sub-Fund may hold high levels of cash and liquid near cash assets
in certain circumstances. Please see ‘Cash and Collateral Management’ below for further details.
The Sub-Fund may gain exposure to commodities, property, renewable energy and infrastructure through a combination of securities listed or traded on Eligible Markets such as Equity and Equity-Related Securities, Debt and Debt-Related Securities and UCITS eligible CIS including open-ended ETFs. The Sub-Fund will not invest directly in commodities, property, renewable energy or infrastructure.
The Sub-Fund intends to invest globally with no
particular industry or sector focus, however the Sub-Fund may at times be concentrated in particular industry or geographical sectors depending on where the Investment Manager sees investment opportunity.
The Sub-Fund may invest more than 20% of its Net Asset Value in emerging markets and may invest up to 10% of its Net Asset Value in Russian securities listed or traded on the Moscow Exchange.
The Sub-Fund may also invest up to 10% of its Net Asset Value in Debt and Debt-Related Securities in the People’s Republic of China (“PRC”) traded in the China interbank bond market (“CIBM”) via Bond Connect (as further described Appendix VI to the Prospectus.)
Methods of gaining exposure to Chinese securities may include purchasing China A-shares via the Stock Connect. The Sub-Fund may invest up to 10% of its Net Asset Value in China A-shares via the Stock Connect. Further details about the Stock Connect are set out in Appendix V to the Prospectus.
The Sub-Fund may invest up to 10% of its Net Asset Value in transferable securities not listed or traded on Eligible Markets.
Whilst the Sub-Funds base currency is Euro, it may invest in non-Euro denominated assets. Such assets will not necessarily be hedged back into Euro. In addition, the Sub-Fund may take active currency positions using forward foreign exchange contracts such as hedging non- Euro denominated assets back to another currency such as the U.S. Dollar in order to express the Investment
Manager’s view on non-Euro currencies. Therefore, the
performance of the Sub-Fund may be strongly influenced
by movements in FX rates because currency positions held by the Sub-Fund may not correspond with the securities positions held and not all assets may be hedged back to the base currency.

##### Cash and Collateral Management
The Sub-Fund may also hold high levels of cash and liquid near cash assets in certain circumstances. Such circumstances include where the Investment Manager believes markets are overvalued, where market conditions may require a defensive investment strategy, the holding of cash on deposit pending reinvestment, to
meet redemptions, facilitate payment of expenses or in order to provide collateral to support FDI exposure. The
Sub-Fund may temporarily hold high levels of cash and liquid near cash assets (i.e. up to 100% of the Sub-Fund’s Net Asset Value) where market conditions may require a
defensive investment strategy (e.g. market crash or major crisis).
Liquid near cash assets may include money market instruments and bank deposits. It is intended that issuers and/or guarantors of any such securities and instruments will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a Recognised Rating Agency, or will be deemed by the Investment Manager to be of equivalent quality.

##### Benchmark
1 Month EURIBOR + 4% per annum (the “Cash Benchmark”).
The Sub-Fund uses the Cash Benchmark as a target set for the Sub-Fund’s performance to match or exceed over 5 years before fees.
EURIBOR is the Euro Interbank Offer Rate and is a reference rate that is constructed from the average interest rate at which Eurozone banks offer unsecured short-term lending on the inter-bank market.
The Sub-Fund is actively managed, which means the Investment Manager has discretion over the selection of investments, subject to the investment objective and policy.
The Benchmark is a cash-based market benchmark that does not take ESG factors into account and is not used to measure the extent to which the environmental or social characteristics promoted by the Sub-Fund are met.

##### Investment Strategy
The Investment Manager believes that no issuer, market or economy can be considered in isolation; each must be understood in a global context. The Investment Manager believes that events occurring around the world influence all financial markets and that successful investment in global securities therefore requires a thorough understanding of the world as a whole. The Sub-Fund follows an actively managed unconstrained global multi- asset strategy. Allocations will be made at the Investment
Manager’s discretion across regions, sectors and the
asset classes described above, although all investments must meet the Investment Manager’s Environmental, Social and Governance (“ESG”) and sustainability criteria. The Investment Manager focuses mainly on investing
directly, across multiple asset classes.
The Investment Manager’s investment process uses asset allocation and investment themes.
The asset allocation of the Sub-Fund changes according to the Investment Manager’s views of fundamental economic and market conditions and investment trends
across the globe, taking into consideration factors such as liquidity, costs, timing of execution, issuers available in the market and the analysis of ESG issues. For example, if the Investment Manager anticipated interest
rate rises, they may decide to reduce the fixed income weighting in the Sub-Fund and increase the Sub-Fund’s equity weighting. As another example, if the Investment
Manager anticipated an equity market downturn, they may decide to reduce the Sub-Fund’s equity weighting
and increase the fixed income and cash or liquid near cash weighting. The Investment Manager could purchase volatility call options related to an equity-related index ( e.g. S&P 500 Index) in advance of expected increased
equity market volatility (e.g. U.S. Equity Market) with the aim of increasing the Sub-Fund’s performance returns.
Themes seek to identify major areas of structural change in the world, providing context to investment analysis and decision making, helping the Investment Manager identify areas of potential investment opportunity and risk.
When determining whether an issuer meets the Investment Manager’s ESG and sustainability criteria, the Investment Manager considers whether the issuer (i)
engages in such practices in an economic sense (e.g. the durability of the issuer's strategy, operations and finances), and (ii) takes appropriate account of the economic, political, governance and regulatory environment in which the issuer operates, which includes assessment of an issuer's environmental, social and/or governance practices.
The Investment Manager’s criteria incorporate elements of negative and positive screening alongside general and
security level ESG-related analysis and ultimately, in keeping with the investment objective and strategy of the Sub-Fund, seek to:
- Identify and avoid issuers that participate in specific areas of activity that the Investment Manager deems to be harmful from an ESG perspective or which do not follow good governance practices. As an example, the Investment Manager could deem issuers that have large carbon dioxide footprints or governments with poor human rights policies ineligible for investment. It will also exclude those issuers in breach of the Principles of the UN Global Compact which includes principles relating to human rights, labour, environment and anti corruption.
- Identify and invest in issuers that are proactively seeking to manage social and environmental factors well to generate sustainable returns. This may also include those issuers that are contributing to the development of solutions that will contribute towards addressing environmental and/ or social issues, examples of which could include more efficient or reduced use of natural resources or accessibility to healthcare.

The Investment Manager also may invest in corporate issuers where it believes it can promote sustainable business practices through ongoing issuer engagement. No investment will be made in a security that is deemed to have material ESG issues intrinsic to their business or economic activities, such as a tobacco company due to
the health implications of smoking. When determining whether an issuer meets the Investment Manager’s ESG and sustainability criteria the Investment Manager uses a
combination of external and internal data, research and ratings which are both quantitative and qualitative, in nature.
The Investment Manager is dependent upon information and data sourced from third parties (which may include providers of research, reports, screenings, ratings and/or analysis such as index providers and consultants). Such information or data may be incomplete, inaccurate or inconsistent.
In the event that issuers are identified as participating in specific areas of activity that the Investment Manager deems to be harmful from an ESG perspective, these issuers are subject to further review by the Investment Manager prior to them being purchased or held on a continuing basis.
There may be situations where the Investment Manager may invest in a security that has been identified as having involvement in potentially harmful activities. This may arise for certain companies whose activities or operations, typically due to a legacy business mix, may have historically created poor environmental or social outcomes but that are now investing and positively adapting to future needs (for example, this may include energy companies that are preparing for a transition to a lower carbon world). Similarly, in some instances, prevailing ESG ratings may not fully capture positive
ESG-related initiatives that an issuer may be working on.
The Sub-Fund’s investments must continue to meet the Investment Manager’s criteria on an ongoing basis after initial purchase and the level of sustainability risk that a
security may be subject to will be assessed in the same way as it would be assessed before initial purchase.

##### The Sustainable Finance Disclosure Regulation
The Sub-Fund integrates sustainability risk into investment decisions and promotes environmental or social characteristics and invests in companies with good governance for the purposes of Article 8 of the SFDR.
The consideration of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying
investments could be materially negatively impacted by an ESG event or condition (“ESG Event”).
The Investment Manager has access to a variety of ESG- related data points provided by third party data providers which assists with the identification of potential ESG- related issues that an issuer may be facing. This includes but is not limited to exposure to activities that may be
deemed harmful to the environment or society. This data, along with data from the Investment Manager’s own proprietary responsible investment research resources, forms a central part of the Investment Manager’s consideration and assessment of the level of
sustainability risk that an investment may be subject to.
This assessment is integrated in to the security level research process which is based upon fundamental analysis of individual investment opportunities across a number of different factors including:
- Fundamental financial or economic characteristics
- Valuation
- Risk/reward profile
- The ESG characteristics of the issuer, including understanding how such considerations can impact economic returnsThe information gathered from the fundamental analysis conducted will be taken into account by the Investment Manager in deciding whether to acquire a holding in an issuer or continue to hold a position.

In the event that the sustainability risk associated with a particular investment increases beyond a level that the Investment Manager is comfortable with, taking in to consideration the investment objective and strategy of
the Sub-Fund, the Investment Manager will consider selling or reducing the Fund’s exposure to the relevant investment, taking into account the best interests of the
Shareholders of the Fund.
As explained above, the assessment and management of sustainability risks forms an important part of the Investment Manager's due diligence process, however there may still be a risk that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The EU Taxonomy Regulation Technical Screening Criteria (“TSC”) will require the availability of multiple, specific data points regarding each investment. At the date
hereof, there is insufficient reliable, timely and verifiable data available for the Manager to be able to assess the investments of the Sub-Fund using the TSC.
In addition, the regulatory technical standards for the SFDR which define the methodology for the calculation of the share of EU Taxonomy-alignment for financial products such as the Sub-Fund and the templates for the required disclosures are not yet final. As at the date hereof, the Manager is not able to provide standardised and comparable disclosures on the alignment of the Sub-
Fund’s investments with the EU Taxonomy Regulation.
While there are investments in the Sub-Fund that are in economic activities that contribute to an environmental objective and may be eligible to be assessed against the TSC, the Manager is not currently in a position to describe:
- The extent to which the investments of the Sub-Fund are in Environmentally Sustainable Economic Activities;
- The proportion, as a percentage of the Sub-Fund’s portfolio, of investments in Environmentally Sustainable Economic Activities; or
- The proportion, as a percentage of the Sub-Fund’s portfolio of EU Taxonomy Regulation Enabling Activities and “EU Taxonomy Regulation Transitional Activities.

The Manager is keeping this situation under active review
and where sufficient reliable, timely and verifiable data on the Sub-Fund’s investments become available, the Manager will provide the descriptions referred to above,
in which case, this Prospectus or the relevant Supplement will be updated.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Currency Futures Government Bond Futures Equity Index Futures Volatility Index Futures Money Market Futures Equity Futures |
| --- | --- |
| Options | Equity Options (single name, index, sector, custom basket) Low exercise price options (LEPOs) and Low exercise price warrants (LEPWs) Bond Options Options on Government Bond Futures Options on Equity Futures Swaptions Options on Volatility indices Currency Options (including Barrier Options) |
| Swaps | Credit Default Swaps (single name, index and custom basket) Interest Rate Swaps Equity Swaps Variance Swaps Index Swaps Total Return Swaps (single name, credit, index and custom basket) Contracts for difference (CFD) Sector Swaps Volatility Swaps |
| Forwards | Forward Foreign Exchange Contracts |
| Securities with Em- bedded FDI/ Leverage | Convertible Bonds Contingent Convertible Securities (CoCos) Asset-Back Securities (ABS) Mortgage-Backed Securities (MBS) Warrants Structured Notes ETNs |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub- Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit iTraxx CDS Index |

| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Equity indices to provide exposure to regional and global equity markets in a more cost effective or efficient manner than buying the physical securities. | Borsa Istanbul 30 Dax 30 Index Euro Stoxx 50 Index FTSE 100 Index FTSE All Share Index FTSE World Index Hang Seng Index KOSPI Index MDAX Index MSCI All Countries World Index MSCI Emerging Markets Index Nasdaq Composite Index Nikkei 225 Index Russell 2000 Index S&P/ASX 200 Index S&P/TSX Composite Index S&P 500 Index Stoxx Europe 600 Index Stoxx Europe Small 200 |
| Volatility indices to provide exposure express the Investment Manager’s view on the volatility of a particular market or currency in a more cost effective or efficient manner than buying the physical securities. | Chicago Board Options Exchange SPX Volatility Index |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. The remaining financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX–Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where additional information can be found, will be set out in the
Company’s semi-annual and annual accounts.

##### Long and Short Positions
The Sub-Fund may employ synthetic long and synthetic short exposures in each of the asset classes referenced in the Investment Policy to achieve its investment objective. The total net long exposure (after taking account of hedging) through FDI is not expected to exceed 100% of the Net Asset Value of the Sub-Fund and the total net short exposure is not expected to exceed 100% of the Net Asset Value of the Sub-Fund (using the commitment approach).

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Absolute VaR
Absolute VaR Limit: Sub-Fund’s portfolio will not exceed 20% of the Net Asset Value (using a 20 Business Day holding period).
Gross leverage is expected to vary between: 0% to 1000% of the Sub-Fund’s Net Asset Value. The gross leverage may exceed this target level at times.
For more information on the Absolute VaR approach and Gross Leverage, please see “The Company – Global Exposure and Leverage” section in the Prospectus

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, contracts for difference, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise repurchase/ reverse repurchase agreements for efficient portfolio management purposes only, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Lending Arrangements
This Sub-Fund will not utilise securities lending arrangements and, therefore, may forego any additional returns that may be produced through such activities.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in SFTs, i.e. repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 100% and in respect of SFTs shall be 100% of the Net Asset Value of the Sub-Fund. However, it is
not anticipated that the Sub-Fund’s exposure in respect
of TRS will exceed 30% and in respect of SFTs will
exceed 15% of the Net Asset Value of the Sub-Fund. The types of assets that will be subject to TRS and SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on TRS and SFTs, including acceptable collateral and counterparty procedure is given under the
headings “Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1€, 1£, 1CAD, 1AUD, 1SGD or 1CHF depending on the currency of
the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February. Further details are set out under the heading "The Company -
Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.
The fees and expenses relating to the establishment and
organisation of the Sub-Fund including the fees of the Sub-Fund’s professional advisers will be borne by the Sub-Fund. Such fees and expenses are estimated not to exceed €35,000 and will be borne by the Sub-Fund and will be amortised over a period of up to 3 years from the
date of the launch of the Sub-Fund.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Efficient Global IG Corporate Beta Fund

### SUPPLEMENT 50 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.


#### The Investment Manager
Insight North America LLC

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD A (Acc.) | USD | 5,000 | 5% | 0.40% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 0.40% | 0% |
| Euro H (Acc.) (hedged) | EUR | 5,000 | 5% | 0.40% | 0% |
| Euro H (Inc.) (hedged) | EUR | 5,000 | 5% | 0.40% | 0% |
| DKK H (Acc.) (hedged) | DKK | 50,000 | 5% | 0.40% | 0% |
| SEK H (Acc.) (hedged) | SEK | 50,000 | 5% | 0.40% | 0% |
| NOK H (Acc.) (hedged) | NOK | 50,000 | 5% | 0.40% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD C (Acc.) | USD | 5,000,000 | 5% | 0.30% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 0.30% | 0% |
| Euro I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 0.30% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 0.30% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.20% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.20% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.20% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.20% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.20% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.20% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.20% | 0% |
| DKK W (Acc.) (hedged) | DKK | 150,000,000 | 5% | 0.20% | 0% |
| SEK W (Acc.) (hedged) | SEK | 150,000,000 | 5% | 0.20% | 0% |
| NOK W (Acc.) (hedged) | NOK | 150,000,000 | 5% | 0.20% | 0% |

| “E” Shares, and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD E (Acc.) | USD | As agreed | 5% | 0.10% | 0% |
| USD E (Inc.) | USD | As agreed | 5% | 0.10% | 0% |
| Euro E (Acc.) (hedged) | EUR | As agreed | 5% | 0.10% | 0% |
| Euro E (Inc.) (hedged) | EUR | As agreed | 5% | 0.10% | 0% |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.10% | 0% |
| Sterling E (Inc.) (hedged) | GBP | As agreed | 5% | 0.10% | 0% |
| CHF E (Acc.) (hedged) | CHF | As agreed | 5% | 0.10% | 0% |

| “L” Shares, and “L (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Sterling L (Acc.) | GBP | As agreed | 5% | 0.08% | 0% |
| Sterling L (Inc.) | GBP | As agreed | 5% | 0.08% | 0% |
| Sterling L (Acc.) (hedged) | GBP | As agreed | 5% | 0.08% | 0% |
| Sterling L (Inc.) (hedged) | GBP | As agreed | 5% | 0.08% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| Euro X (Acc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Sterling X (Acc.) (hedged) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) (hedged) | GBP | None | 0% | 0% | 0% |
| CHF X (Acc.) (hedged) | CHF | None | 0% | 0% | 0% |
| CAD X (Acc.) (hedged) | CAD | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to generate a return in excess of the Benchmark detailed below with similar levels of volatility over the medium to long-term before fees and expenses.

##### Investment Policy
The Sub-Fund aims to achieve its investment objective by investing directly and indirectly in the underlying debt and debt-related securities included in the Bloomberg
Barclays Global Aggregate Corporate TR Index USD Hedged (the “Benchmark”). The Sub-Fund may also invest in debt or debt-related securities not included in the
Benchmark where the relevant issuer has other securities included in the Benchmark or where the debt or debt- related security meets the requirements of, and is expected to be included in the Benchmark in the future. This allows the Sub-Fund to purchase securities when they are first issued rather than when they are added to the Benchmark. The Sub-Fund may continue to hold securities which were included in the Benchmark at the time of purchase even if they are subsequently removed from the Benchmark.
The Sub-Fund may invest in fixed and floating rate corporate debt and debt-related securities including bonds, private placements (i.e. Reg S bonds and 144A bonds), money market instruments (such as U.S. treasury
bills, certificates of deposit, commercial paper and term deposits) and FDI hereinafter “Debt and Debt-Related Securities”. FDI are listed below under the heading “Use of FDI”.
The Sub-Fund may have exposure of up to 10% of its Net Asset Value to contingent convertible securities (“CoCos”). Please see “Contingent Convertible Securities (CoCos) Risk” in the Prospectus for details of the risks associated with CoCos.
The Sub-Fund may invest in investment grade securities as rated by a Recognised Rating Agency at time of purchase. Securities are classified as investment grade if the median rating of the Recognised Rating Agencies is above Ba1/BB+/BB+. When a rating from only two agencies is available, the lower rating is used; when only one agency rates a security, that rating is used. The Sub- Fund may also continue to hold securities which are downgraded to sub-investment grade after purchase and consequently moved from the Benchmark. Investment in securities which are downgraded to sub-investment grade after purchase will be limited to 10% of the Sub-
Fund’s Net Asset Value.
The Sub-Fund will primarily invest directly in the underlying Debt and Debt-Related Securities included in Benchmark but will also, on an ancillary basis, gain
exposure indirectly to the constituents of the Benchmark via Credit Default Swaps (“CDS”) indices as described in the Financial Indices section below and collective investment schemes (“CIS”).
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in open-ended (CIS) including money
market funds and open-ended exchange traded funds (“ETFs”). The Sub-Fund may also hold ancillary liquid assets such as bank deposits.
The Sub-Fund may also hold cash and liquid near cash assets in certain circumstances. Please see ‘Cash and Collateral Management’ below for further details.
The Sub-Fund intends to invest globally with no
particular industry or sector focus, however the Sub-Fund may at times be concentrated in particular industry or geographical sectors, including the U.S., depending on where the Investment Manager sees investment opportunity or where the Benchmark is focused.
The Sub-Fund may invest up to 10% of its Net Asset Value in emerging market countries. The Sub-Fund will not invest in Russia.
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in transferable securities (i.e. Debt and Debt-Related Securities), which are not admitted to or dealt in on an Eligible Market, in accordance with the
UCITS Regulations. With the exception of permitted investments in open-ended CIS, the Sub-Fund’s investments shall be listed or traded on Eligible Markets
listed in Appendix II of the Prospectus.
Whilst the Sub-Fund’s base currency is USD, it may invest in non-USD denominated assets that will be hedged back into USD using currency-related FDI. The
currency-related FDI which may be used by the Sub-Fund
for hedging purposes are further described in the Prospectus in the section entitled “Financial Derivative Instruments and Techniques”.

##### Cash and Collateral Management
The Sub-Fund will hold cash and liquid near cash assets in certain circumstances, such as meeting redemptions, facilitating payment of expenses, holding cash on deposit pending reinvestment and to provide liquidity and collateral to support FDI exposure.
Liquid near cash assets may include money market instruments such as U.S. treasury bills, treasury bonds and bank deposits. It is intended that issuers and/or guarantors of any such securities and instruments will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a Recognised Rating Agency, or will be deemed by the Investment Manager to be of equivalent quality.

##### Benchmark
Bloomberg Barclays Global Aggregate Corporate TR Index USD Hedged (the “Benchmark”)
The Benchmark measures the performance of the global corporate debt market. The Benchmark is a market- weighted index which includes corporate fixed income debt securities issued by corporations in emerging and developed markets worldwide, as described above as Debt and Debt-Related Securities. These debt securities are investment grade at the time of issuance, as previously defined, and will have a minimum maturity of at least one year as well as a minimum issue size, in accordance with guidelines set by the index provider. The Benchmark is rebalanced monthly; however the Sub-Fund does not aim to track or replicate the Benchmark and therefore will not be directly impacted by the rebalancing, associated costs or stock weighting in the Benchmark which would exceed the permitted
investment restrictions.
Additional information on the Benchmark can be found here:
https://www.bloomberg.com/quote/LGCPTRUU:IND
The Sub-Fund will measure its performance against the Benchmark.
The Investment Manager will use the Benchmark to construct the investment universe. The Sub-Fund is actively managed and does not seek to replicate the full constituents of the Benchmark. The Investment Manager has limited discretion to invest outside the Benchmark subject to the investment objective and policy.
The majority of the Sub-Fund’s holdings will be constituents of the Benchmark and as a result the Sub- Fund will be similar in its currency and sector exposures
as well as duration. However, the Investment Manager does not seek to reflect the Benchmark’s maturity and credit quality profile.
The investment strategy provides similar volatility to the Benchmark over the medium to long-term.

##### Investment Strategy
A top-down approach is used to construct a portfolio based on the Benchmark which provides “efficient beta”. ‘Beta’ refers to gaining market exposure while ‘efficient’ refers to achieving the ‘beta’ though the Investment Manager’s considered and cost-effective investment
decisions and strategies.
The Investment Manager seeks to efficiently allocate the portfolio, overweighting attractive risk-adjusted return segments in terms of maturity and credit quality versus the Benchmark. For example, the Investment Manager may choose to underweight AAA/AA and long duration A rated Debt and Debt-Related Securities relative to the Benchmark, and overweight shorter maturity BBB rated Debt and Debt-Related Securities. The Investment Manager will seek to maintain an interest rate duration in line with that of the Benchmark. Duration being the measure of the price sensitivity of a bond to changes in interest rates.
By doing so, the Sub-Fund accesses the area of credit where the Investment Manager views the trade-off between excess return and additional risk to be most efficient. This assessment stems from internal estimates of the size of the current risk premia, as well as from ongoing market analysis
The Investment Manager employs strategies which seek to overcome inefficiencies within the Benchmark and Investment Grade universe more broadly. In the
Investment Manager’s view, these strategies include
efficient turnover management and investment in so-
called fallen angels. Fallen angels are Debt and Debt- Related Securities that at one point in their trading history were investment grade and have since been downgraded to sub-investment grade. While the Benchmark removes fallen angels, it may not be efficient to sell these and the Sub-Fund may hold Debt and Debt- Related Securities which have been downgraded below investment grade (i.e. BB+ or below as rated by a Recognised Rating Agency).
At a security level, Debt and Debt-Related Securities will be chosen to represent aggregate sector and currency exposures of the Benchmark such that these exposures are in line with the Benchmark, in essence, a beta exposure.
The portfolio is well diversified and the Investment Manager utilises a proprietary credit model to support decision making. The credit model uses factor signals to identify riskier Debt and Debt-Related Securities. These factors include metrics of quality, momentum and value. These allow the investment manager to forecast the possibility of downgrade and default as well as fair value of the Debt and Debt-Related Securities. The Investment Manager incorporates the information provided by the model in the security selection process and in the ongoing monitoring of the Benchmark. By combining strategies which address inefficiencies of the Benchmark the Investment Manager seeks to deliver an efficient beta investment solution for investors.

##### The Sustainable Finance Disclosure Regulation
Due to the investment objective of this Sub-Fund, the Investment Manager has limited discretion to deviate from the characteristics and exposures of the Benchmark. This discretion allows the Investment Manager, for instance, to invest in securities not included in the Benchmark where such securities meet the requirements of, and are expected to be included in the Benchmark in the future and to continue to hold securities which were included in the Benchmark at the time of purchase, even if they are subsequently removed from the Benchmark. The Benchmark does not take ESG factors or sustainability risks into account. Consequently, the Investment Manager does not integrate sustainability risks (which is defined as an ESG event or condition that, if it occurs, could cause an actual or a potential material
negative impact on the value of the relevant investment (an “ESG Event”) into its investment decisions. However, due to the diversified nature of the Sub-Fund, the
Investment Manager has determined that the sustainability risk faced by the Sub-Fund is minimal.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Bond Futures |
| --- | --- |

| Swaps | Credit Default Swaps (single name and index (CDS)) |
| --- | --- |
| Securities with Embedded FDI/Leverage | Contingent Convertible Securities (CoCos) |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial
purpose, are described in the Prospectus in the section entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub- Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit CDX North American Investment Grade Markit iTraxx Global Index Europe (Main) |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. However, as the Sub- Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX–Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where
additional information can be found, will be set out in the Company’s semi-annual and annual accounts.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 100% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, securities with embedded FDI, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in
the Central Bank UCITS Regulations. Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of
techniques and FDI the Sub-Fund may use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. securities lending arrangements and repurchase/reverse repurchase
agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of SFTs shall be 100% of the Net Asset Value of the Sub-
Fund. However, it is not anticipated that the Sub-Fund’s
exposure to the SFTs will exceed 15% of the Net Asset
Value of the Sub-Fund. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be issued during their respective Initial Offer Periods at their
respective initial offer price per Share of 1USD, 1£, 1€,
1CHF, 10DKK, 10SEK, 10NOK or 1CAD depending on the
currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11 November respectively. Further details are set out under
the heading "The Company - Distribution Policy” in the
Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.
The fees and expenses relating to the establishment and organisation of the Sub-Fund including the fees of the
Sub-Fund’s professional advisers will be borne by the
Sub-Fund. Such fees and expenses are estimated not to exceed €40,000 and will be borne by the Sub-Fund and will be amortised over a period of up to 4 years from the
date of the launch of the Sub-Fund.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Efficient EM Debt Local Currency Beta Fund

### SUPPLEMENT 51 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- The Sub-Fund’s Net Asset Value may have a high level of volatility due to its investment policy.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
Insight North America LLC

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD A (Acc.) | USD | 5,000 | 5% | 0.40% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 0.40% | 0% |
| Euro H (Acc.) (hedged) | EUR | 5,000 | 5% | 0.40% | 0% |
| Euro H (Inc.) (hedged) | EUR | 5,000 | 5% | 0.40% | 0% |
| DKK H (Acc.) (hedged) | DKK | 50,000 | 5% | 0.40% | 0% |
| SEK H (Acc.) (hedged) | SEK | 50,000 | 5% | 0.40% | 0% |
| NOK H (Acc.) (hedged) | NOK | 50,000 | 5% | 0.40% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 0.30% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 0.30% | 0% |
| Euro G (Acc.) (hedged) | EUR | 5,000 | 5% | 0.30% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| Euro G (Inc.) (hedged) | EUR | 5,000 | 5% | 0.30% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD C (Acc.) | USD | 5,000,000 | 5% | 0.30% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 0.30% | 0% |
| Euro I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 0.30% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 0.30% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.20% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.20% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.20% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.20% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.20% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.20% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.20% | 0% |
| DKK W (Acc.) (hedged) | DKK | 150,000,000 | 5% | 0.20% | 0% |
| SEK W (Acc.) (hedged) | SEK | 150,000,000 | 5% | 0.20% | 0% |
| NOK W (Acc.) (hedged) | NOK | 150,000,000 | 5% | 0.20% | 0% |

| “E” Shares, and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD E (Acc.) | USD | As agreed | 5% | 0.10% | 0% |
| USD E (Inc.) | USD | As agreed | 5% | 0.10% | 0% |
| Euro E (Acc.) (hedged) | EUR | As agreed | 5% | 0.10% | 0% |
| Euro E (Inc.) (hedged) | EUR | As agreed | 5% | 0.10% | 0% |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.10% | 0% |
| Sterling E (Inc.) (hedged) | GBP | As agreed | 5% | 0.10% | 0% |
| CHF E (Acc.) (hedged) | CHF | As agreed | 5% | 0.10% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| Euro X (Acc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Sterling X (Acc.) (hedged) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) (hedged) | GBP | None | 0% | 0% | 0% |
| CHF X (Acc.) (hedged) | CHF | None | 0% | 0% | 0% |
| CAD X (Acc.) (hedged) | CAD | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to provide similar performance and levels of volatility as the Benchmark (detailed below) over the medium to long-term before fees and expenses.

##### Investment Policy
The Sub-Fund aims to achieve its investment objective by investing directly and indirectly in the underlying debt
and debt-related securities included in the JP Morgan GBI-EM Global Diversified Index (the “Benchmark”). The Sub-Fund may also invest in debt or debt-related
securities that meet the requirements of, and are expected to be included in the Benchmark in the future. The Sub-Fund may continue to hold securities which were included in the Benchmark at the time of purchase even if they are subsequently removed from the Benchmark.
The Sub-Fund will invest in local currency, emerging market fixed rate government debt and debt-related
securities including bonds, debentures, herein after “Debt and Debt-Related Securities” and related FDI (as listed in “Use of FDI” below).
The Sub-Fund may have exposure of up to 10% of its Net Asset Value to contingent convertible securities (“CoCos”). Please see “Contingent Convertible Securities (CoCos) Risk” in the Prospectus for details of the risks associated with CoCos.
The Sub-Fund will invest in both investment grade and sub-investment grade Debt and Debt-Related Securities as rated by a Recognised Rating Agency at time of purchase. Debt and Debt-Related Securities are classified as investment grade if the median rating from these rating agencies is above Ba1/BB+/BB+ and classified as sub-investment grade if the median rating of the agencies is Ba1/BB+/BB+ or below. When a rating from only two agencies is available, the lower rating is used; when only one agency rates a security, that rating is used. The Sub-Fund may invest more than 30% of its Net Asset Value in sub-investment grade Debt and Debt- Related Securities. The Sub-Fund may continue to hold Debt and Debt-Related Securities which are downgraded to sub-investment grade, unrated or which are upgraded to investment grade after purchase.
The Sub-Fund will primarily invest directly in the underlying Debt and Debt-Related Securities included in Benchmark but will also, on an ancillary basis, gain exposure indirectly to the constituents of the Benchmark
though FDI and collective investment schemes (“CIS”).
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in open-ended CIS including money
market funds and open-ended exchange traded funds (“ETFs”). The Sub-Fund may also hold ancillary liquid assets such as bank deposits.
The Sub-Fund may also hold cash and liquid near cash assets in certain circumstances. Please see ‘Cash and Collateral Management’ below for further details.
The Sub-Fund intends to invest more than 20% of its Net Asset Value in emerging markets with no particular industry or sector focus, however the Sub-Fund may at times be concentrated in particular industry or
geographical sectors depending on where the Investment Manager sees investment opportunity or where the Benchmark is focused.
The Sub-Fund may also invest up to 15% of its Net Asset Value in Debt and Debt-Related Securities in the People’s Republic of China (“PRC”) traded in the China interbank bond market (“CIBM”) via Bond Connect (as further described Appendix VI to the Prospectus).
The Sub-Fund may also gain exposure to Russia. The Sub-Fund may invest up to 15% of its Net Asset Value in securities listed or traded on the Moscow Exchange.
With the exception of permitted investment in unlisted securities and open-ended CIS, investments will be made on Eligible Markets listed in Appendix II of the
Prospectus. The Sub-Fund’s performance may be strongly
influenced by movements in foreign exchange rates as
the assets of the Sub-Fund are denominated in a currency other than the Base Currency and will typically not be hedged back to the Base Currency. The Sub-Fund will maintain a similar currency profile to that of the Benchmark, and will use FX forwards to hedge its positions in local currency bonds where necessary to achieve this. The currency-related FDI which may be used by the Sub-Fund for hedging purposes are further described in the Prospectus in the section entitled
“Financial Derivative Instruments and Techniques”.

##### Cash and Collateral Management
The Sub-Fund will hold cash and liquid near cash assets in certain circumstances, such as meeting redemptions, facilitating payment of expenses, holding cash on deposit pending reinvestment and to provide liquidity and collateral to support FDI exposure.
Liquid near cash assets may include money market instruments such as U.S. treasury bills, treasury bonds and bank deposits. It is intended that issuers and/or guarantors of any such securities and instruments will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a Recognised Rating Agency, or will be deemed by the Investment Manager to be of equivalent quality.

##### Benchmark
JP Morgan GBI-EM Global Diversified Index (the
“Benchmark”).
The Benchmark is a comprehensive global local emerging markets index, and consists of regularly traded, liquid fixed-rate, local currency government bonds to which international investors can gain exposure. Additional information on the Benchmark can be found here:
https://etfdb.com/index/jpmorgan-government-bond- index-emerging-markets-global-diversified-index/.
The Benchmark is rebalanced monthly; however, the Sub- Fund does not aim to track or replicate the Benchmark and therefore will not be directly impacted by the rebalancing, associated costs or stock weighting in the Benchmark which would exceed the permitted investment restrictions.
The Sub-Fund will measure its performance against the Benchmark.
The Investment Manager will use the Benchmark to construct the investment universe. The Sub-Fund is actively managed and does not seek to replicate the full constituents of the Benchmark. The Investment
Manager has limited discretion to invest outside the Benchmark subject to the investment objective and policy.
The majority of the Sub-Fund’s holdings will be constituents of the Benchmark and the Sub-Fund will be similar in its currency and exposures. However the
Investment Manager does not seek to match the Benchmark’s country or maturity profile.
The investment strategy provides similar volatility to the Benchmark over the medium to long-term.

##### Investment Strategy
A top-down approach is used to construct a portfolio based on the Benchmark which provides “efficient beta”. ‘Beta’ refers to gaining market exposure while ‘efficient’ refers to achieving the ‘beta’ through the Investment Manager’s considered and cost-effective investment
decisions and strategies.
The Investment Manager seeks to efficiently manage the portfolio, overweighting attractive risk-adjusted return segments versus the Benchmark. In particular, the Investment Manager may choose to overweight some Debt and Debt-Related Securities versus the Benchmark and underweight others.
The Investment Manager employs strategies which seek to overcome inefficiencies within the Benchmark and the emerging market debt local currency universe more broadly. Following the rules operated by the Benchmark and applying a standard indexing approach would result in index minus results. Further, local taxes create a
negative impact on investor’s performance. Our efficient
beta approach seeks to overcome these.
Specifically, the Investment Manager will look to overweight exposure to country yield curve segments which offer comparatively higher interest rates over a time period as the Debt and Debt-Related Securities mature, and underweight exposure to country yield curve segments which offer lower interest rates over this time period. In doing so, the Sub-Fund holds positions in Debt and Debt-Related securities which it views to be the most efficient across country yield curves. The Investment Manager will also utilize efficient turnover management. The Benchmark has rebalancing rules which the Investment Manager will deviate from so as to minimize trading costs. While the Sub-Fund will deviate from the benchmark in terms of holdings, the Investment Manager will use FX forwards such that FX exposure is in line with the Benchmark.
Note that at a security level, Debt and Debt-Related Securities will be chosen to represent the country exposures of the Benchmark. The Sub-Fund will not necessarily have exposure to all countries in the Benchmark at all times and the composition of this exposure will deviate. However, these exposures will constitute, in essence, a beta exposure. By combining strategies which address inefficiencies of the Benchmark the Investment Manager seeks to deliver an efficient beta investment solution for investors.

##### The Sustainable Finance Disclosure Regulation
Due to the investment objective of this Sub-Fund, the Investment Manager has limited discretion to deviate from the characteristics and exposures of the Benchmark. This discretion allows the Investment Manager, for instance, to invest in securities not included in the Benchmark where such securities meet the requirements of, and are expected to be included in the Benchmark in the future and to continue to hold securities which were included in the Benchmark at the time of purchase, even if they are subsequently removed from the Benchmark. The Benchmark does not take ESG factors or sustainability risks into account. Consequently, the Investment Manager does not integrate sustainability risks (which is defined as an ESG event or condition that, if it occurs, could cause an actual or a potential material
negative impact on the value of the relevant investment (an “ESG Event”) into its investment decisions. However, due to the diversified nature of the Sub-Fund, the
Investment Manager has determined that the sustainability risk faced by the Sub-Fund is minimal.
The Manager has carefully evaluated the requirements of
the principal adverse impact consideration regime in Article 4 SFDR, (the “PAI regime”). The Manager is supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Bond Futures |
| --- | --- |
| Swaps | Interest Rate Swaps Inflation Swaps Total Return Swaps (TRS) Cross-Currency Swaps |
| Forwards | Forward Foreign Exchange Contracts |
| Securities with Embedded FDI/Leverage | Contingent Convertible Securities (CoCos) |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial
purpose, are described in the Prospectus in the section entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 100% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, forwards, and warrants. The Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in SFTs i The Sub-Fund may engage in SFTs, i.e.
securities lending arrangements and repurchase/reverse repurchase agreements, as described under the heading
“Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 100% and in respect of SFTs shall be 100% of the Net Asset Value of the Fund. However, it is not
anticipated that the Sub-Fund’s exposure in respect of
TRS will exceed 30% and in respect of SFTs will exceed
15% of the Net Asset Value of the Sub-Fund. The types of assets that will be subject to TRS and SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on TRS and SFTs, including acceptable collateral and counterparty procedure is given under the
headings “Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1£, 1€, 1CHF, 10DKK, 10SEK, 10NOK or 1CAD depending on the
currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11
November respectively. Further details are set out under the heading "The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.
The fees and expenses relating to the establishment and
organisation of the Sub-Fund including the fees of the Sub-Fund’s professional advisers will be borne by the Sub-Fund. Such fees and expenses are estimated not to exceed €40,000 and will be borne by the Sub-Fund and will be amortised over a period of up to 4 years from the
date of the launch of the Sub-Fund.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Efficient U.S. Fallen Angels Beta Fund

### SUPPLEMENT 52 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- It is proposed to charge management fees and other fees and expenses of the Sub-Fund to the capital of the Sub-Fund to seek to maximise distributions. See “Fees and Expenses” in the Prospectus for further details.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
Insight North America LLC

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares, is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD A (Acc.) | USD | 5,000 | 5% | 0.60% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 0.60% | 0% |
| Euro H (Acc.) (hedged) | EUR | 5,000 | 5% | 0.60% | 0% |
| Euro H (Inc.) (hedged) | EUR | 5,000 | 5% | 0.60% | 0% |
| DKK H (Acc.) (hedged) | DKK | 50,000 | 5% | 0.60% | 0% |
| SEK H (Acc.) (hedged) | SEK | 50,000 | 5% | 0.60% | 0% |
| NOK H (Acc.) (hedged) | NOK | 50,000 | 5% | 0.60% | 0% |

| “N” Shares and “N (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD N (Acc.) | USD | 5,000 | 5% | 0.90% | 0% |
| USD N (Inc.) (M) | USD | 5,000 | 5% | 0.90% | 0% |
| Euro N (Acc.) (hedged) | EUR | 5,000 | 5% | 0.90% | 0% |
| Euro N (Inc.) (hedged) | EUR | 5,000 | 5% | 0.90% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| SGD N (Acc.) (hedged) | SGD | 5,000 | 5% | 0.90% | 0% |
| SGD N (Inc.) (hedged) (M) | SGD | 5,000 | 5% | 0.90% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD C (Acc.) | USD | 5,000,000 | 5% | 0.45% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 0.45% | 0% |
| Euro I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 0.45% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 0.45% | 0% |
| AUD I (Acc.) (hedged) | AUD | 5,000,000 | 5% | 0.45% | 0% |
| AUD I (Inc.) (hedged) (M) | AUD | 5,000,000 | 5% | 0.45% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.30% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.30% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.30% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.30% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.30% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.30% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.30% | 0% |
| DKK W (Acc.) (hedged) | DKK | 150,000,000 | 5% | 0.30% | 0% |
| SEK W (Acc.) (hedged) | SEK | 150,000,000 | 5% | 0.30% | 0% |
| NOK W (Acc.) (hedged) | NOK | 150,000,000 | 5% | 0.30% | 0% |

| “E” Shares, and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD E (Acc.) | USD | As agreed | 5% | 0.08% | 0% |
| USD E (Inc.) | USD | As agreed | 5% | 0.08% | 0% |
| Euro E (Acc.) (hedged) | EUR | As agreed | 5% | 0.08% | 0% |
| Euro E (Inc.) (hedged) | EUR | As agreed | 5% | 0.08% | 0% |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.08% | 0% |
| Sterling E (Inc.) (hedged) | GBP | As agreed | 5% | 0.08% | 0% |
| CHF E (Acc.) (hedged) | CHF | As agreed | 5% | 0.08% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| Euro X (Acc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Sterling X (Acc.) (hedged) | GBP | None | 0% | 0% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| Sterling X (Inc.) (hedged) | GBP | None | 0% | 0% | 0% |
| CHF X (Acc.) (hedged) | CHF | None | 0% | 0% | 0% |
| CAD X (Acc.) (hedged) | CAD | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to generate a return in excess of the Benchmark detailed below with similar levels of volatility over the medium to long-term before fees and expenses, whilst taking environmental, social and governance
(“ESG”) factors into account.

##### Investment Policy
The Sub-Fund aims to achieve its investment objective by gaining exposure to the underlying debt and debt-related securities included in the Bloomberg Barclays US HY Fallen Angel 3% Cap Total Return Index Value Unhedged
(the “Benchmark”).
The Sub-Fund may also invest in debt or debt-related securities not included in the Benchmark where the relevant security meets the requirements of, and is expected to be included in the Benchmark in the future. The Sub-Fund may continue to hold securities which were included in the Benchmark at the time of purchase even if they are subsequently removed from the Benchmark whether due to losing their rating or being up-graded to investment grade.
The Sub-Fund may invest in fixed rate corporate and government debt and debt-related securities, which may
be issued as 144A or Reg S securities, including bonds and debentures and FDI hereinafter “Debt and Debt- Related Securities”. FDI are listed below under the heading “Use of FDI”.
The Sub-Fund may invest up to 40% of its Net Asset Value in Debt and Debt-Related Securities issued as 144A or Reg S securities.
The Sub-Fund may gain exposure to any of the underlying debt and debt-related securities with the exception of
contingent convertible securities (“CoCos”). While the
Benchmark excludes CoCos with explicit triggers (per the Benchmark’s rules for inclusion) it does include Debt and Debt-Related Securities which can be classified as CoCos
due to their implicit (or discretionary) triggers.
CoCos can convert from debt to equity through explicit triggers or implicit (or discretionary) triggers; these are set out in the relevant terms and conditions of the issue.
- CoCos with explicit triggers have a numerical, contractual threshold created by the issuer. If the threshold is breached, it automatically triggers the conversion from debt to equity.
- CoCos with implicit (or discretionary) triggers have a non-numerical, contractual threshold which is defined by a regulator and not by the issuer. If the threshold is breached, the conversion from debt to equity is triggered solely at the discretion of this regulator.

Please see the “Debt Instruments Directory” for the description of CoCos and the “Contingent Convertible Securities (CoCos) Risk” in the Prospectus for details of the risks associated with CoCos
Currently less than 2% of the debt and debt-related securities included in the Benchmark are classified as CoCos due to their implicit (or discretionary) triggers.
Such classifications are visible to the Investment Manager and flagged within the Investment Manager’s compliance systems as debt and debt-related securities
to which the Sub-Fund cannot gain exposure. Given the
level of exposure the Benchmark has to CoCos, such exclusion will not impact the Sub-Fund’s ability to achieve its investment objective.
The Sub-Fund will invest the majority of its Net Asset Value in Fallen Angels. Fallen Angels are defined as sub- investment grade Debt and Debt-Related Securities that were previously rated as investment grade by a Recognised Rating Agency at time of purchase. Securities are classified as sub-investment grade if the median rating of these agencies is Ba1/BB+/BB+ or below. When a rating from only two agencies is available, the lower rating is used; when only one agency rates a security, that rating is used. Debt and Debt-Related Securities which have been downgraded to unrated or upgraded to investment grade are not expected to exceed 10% of the
Sub-Fund’s Net Asset Value.
The Sub-Fund will not invest in securities issued by corporate entities that meet any of the below ESG criteria:
- Derive more than 30% of their revenues from tar sands or thermal coal;
- Are deemed to have a negative rating relative to key environmental criterion, as per third party data;
- Are deemed to be in violation of the UN Global Compact principles (including environmental principles and governance principles including relating to labour, human rights, and bribery and corruption principles), as per third party data;
- Produce controversial weapons; or
- Fall below pre-set environmental score, as per third party data, where that environmental score is deemed relevant, or fall below a pre-set score, as per third party data, on key issues relating to climate change themes.

ESG scores are provided by third party providers (“Data Providers”), such as MSCI, Sustainalytics or other providers who measure the ESG impact of corporate
entities. All issuers in which investments are made follow good governance practices as set out in the UN Global Compact principles.
The Sub-Fund will primarily invest directly in the underlying Debt and Debt-Related Securities included in the Benchmark but will also, on an ancillary basis, gain exposure indirectly to the constituents of the Benchmark
via Credit Default Swaps (“CDS”) indices as described in the Financial Indices section below and collective investment schemes (“CIS”).
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in open-ended CIS including money
market funds and open-ended exchange traded funds (“ETFs”).
The Sub-Fund may hold cash and liquid near cash assets in certain circumstances. Please see ‘Cash and Collateral Management’ below for further details.
The Sub-Fund intends to invest in U.S. dollar denominated Debt and Debt-Related Securities of companies or issuers from developed markets with no particular industry or sector focus. The Sub-Fund may, however, at times be concentrated in particular industry or sectors depending on where the Investment Manager sees investment opportunity or where the Benchmark is focused.
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in transferable securities, which are not admitted to or dealt in on an Eligible Market, in accordance with the UCITS Regulations. With the
exception of permitted investments in open-ended CIS, the Sub-Fund’s investments shall be listed or traded on Eligible Markets listed in Appendix II of the Prospectus.

##### Cash and Collateral Management
The Sub-Fund will hold cash and liquid near cash assets in certain circumstances, such as meeting redemptions, facilitating payment of expenses, holding cash on deposit pending reinvestment and to provide liquidity and collateral to support FDI exposure.
Liquid near cash assets may include money market instruments such as U.S. treasury bills, certificates of deposit, commercial paper, term deposits and bank deposits. It is intended that issuers and/or guarantors of any such securities and instruments will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a Recognised Rating Agency or will be deemed by the Investment Manager to be of equivalent quality.

##### Benchmark
Bloomberg Barclays US HY Fallen Angel 3% Cap Total Return Index Value Unhedged (the “Benchmark”).
The Benchmark measures the performance of the U.S. Fallen Angel debt market, with issuers capped at 3% each. The Benchmark is a market-weighted index which includes U.S. fixed income debt securities issued by corporates, as described above as Debt and Debt-Related Securities. These securities were previously rated as investment grade, as previously defined, and were included in the Bloomberg Barclays US Corporate Total Return Value Unhedged Index, with inclusion criteria in accordance with guidelines set by the index provider.
Securities which are downgraded to sub-investment grade become known as Fallen Angels, and are then included in the Benchmark.
The Sub-Fund will measure its performance against the Benchmark.
The Investment Manager will use the Benchmark to construct the investment universe. The Sub-Fund is actively managed and does not seek to replicate the full
constituents of the Benchmark. The Investment Manager has limited discretion to invest outside the Benchmark where the relevant security meets the requirements of, and is expected to be included in the Benchmark in the future.
The majority of the Sub-Fund’s holdings will be constituents of the Benchmark and the Sub-Fund will be similar in its currency and duration to the Benchmark.
The Sub-Fund will also be similar with respect to its sector exposures and credit quality profile, subject to
investment constraints. The Sub-Fund will not seek to reflect the Benchmark’s maturity profile.
The investment strategy provides similar volatility to the Benchmark over the medium to long- term.

##### Investment Strategy
A systematic and disciplined approach is used to
construct a portfolio based on the Benchmark which provides “efficient beta”. ‘Beta’ refers to gaining market exposure while ‘efficient’ refers to achieving the ‘beta’ through the Investment Manager’s considered and cost- effective investment decisions and strategies.
The Sub-Fund will invest in Fallen Angels as defined in the investment policy and use this universe of securities to construct the portfolio.
In the portfolio construction process, a selection of Debt and Debt-Related Securities will be chosen from the investment universe by the Investment Manager. The Investment Manager first seeks to overweight bonds which have been downgraded in the last 12 months, focusing first on those Debt and Debt-Related Securities most newly downgraded and subsequently potentially up to within 24 months. The Investment Manager also looks to mitigate exposure to newly fallen angels with rapidly deteriorating fundamentals for example a bond that has gone from BBB to CCC or lower within 2 months would be sold. The Investment Manager will also generally reduce exposure to Debt and Debt-Related Securities that have been downgraded 24 months ago or more and that have a longer maturity, as these Debt and Debt-Related Securities are deemed by the Investment Manager to present a less interesting risk/reward opportunity relative to the remaining investment universe.
The Investment Manager will then examine the yield/ spread, risk, sector and credit quality characteristics and choose Debt and Debt-Related Securities such that the
aggregate metrics, risk, sector and quality of the Sub- Fund’s holdings are in line with the investment process, subject to security selection. The application of the Investment Manager’s proprietary credit model informs its security selection process. This credit model scores
and ranks the investable universe by gathering information from financial markets and corporate balance sheets to help identify the appropriate value that Debt and Debt-Related Securities are expected to trade at. In this way the model helps the Investment Manager to identify Debt and Debt-Related Securities which may underperform when compared to similar debt and debt- related securities. The Investment Manager will underweight these Debt and Debt-Related Securities.
The Investment Manager will employ efficient allocation strategies to manage the portfolio in a cost effective and considered manner. For example, the Investment Manager may hold Debt and Debt-Related Securities no longer included in the Benchmark where selling these would incur unnecessary trading costs.
The Investment Manager will seek to hedge duration to the level of the Benchmark, so as to manage interest rate risk, cap issuer weight at 7%, and limit exposure to CCC rated securities to 10%. The portfolio will vary over time
as the Investment Manager needs to adjust the Sub- Fund’s holdings to meet the investment objective for the Sub-Fund.
The environmental and social characteristics promoted by the Sub-Fund comprise of mitigating environmentally detrimental practices (including those that may contribute to climate change such as tar sands and thermal coal extraction), reducing the production of controversial weapons, and promoting responsible business practices as defined by the principles of the UN Global Compact.
In identifying investments which allow the Sub-Fund to promote environmental or social characteristics, the Investment Manager will:
- assess the overall suitability of an issuer based on the ESG score provided by a recognised Data Providers.
- screen out issuers based on ESG scores as well as on their involvement in certain industries or sectors as further detailed below.

The Sub-Fund seeks to exclude certain issuers based on ESG concerns. Issuers that are judged to have weaker ESG scores (for example, low ESG rating with respect to climate change related themes, carbon emissions, carbon footprint) may be excluded. Issuers whose revenue is significantly derived from activities or products that are considered unsuitable for the Sub-Fund (for example, issuers that derive more than 30% of their revenues from tar sands or thermal coal, or that produce controversial weapons) may also be excluded. By combining the strategies detailed above, the Investment Manager seeks to deliver an efficient beta investment solution for investors which will provide a return in excess of the Benchmark over the medium to long-term.
The Investment Manager incorporates the above factors into its systematic security selection and portfolio construction process. The results of the screening and portfolio construction process are monitored and reviewed on an ongoing basis, and the Investment Manager regularly reviews the impact of each ESG factors on the investable universe.

##### The Sustainable Finance Disclosure Regulation
The Sub-Fund integrates sustainability risk into investment decisions and promotes environmental or social characteristics and invests in companies with good governance for the purposes of Article 8 of the SFDR.
The management of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively impacted by
an ESG event or condition (“ESG Event”).
Using a quantitative processes, sustainability risk is identified, monitored and managed by the Investment Manager in the following manner:
- Prior to acquiring investments on behalf of the Sub- Fund, the Investment Manager uses ESG metrics from Data Providers in order to screen the relevant investment against sustainability risk and to identify whether it is vulnerable to such risk. This process incorporates applying an exclusion policy (whereby potential investments are removed from the investment universe on the basis that they pose too great a sustainability risk to the Sub-Fund).
- During the life of the investment, sustainability risk is monitored through review of ESG data published bythe issuer (where relevant) or selected third party data providers (“Data Providers”) such as MSCI, Sustainalytics or other providers who measure theESG impact of corporate entities in order to determine whether the level of sustainability risk has changed since the initial assessment has been conducted. This review is conducted on an ongoing basis. Where the sustainability risk associated with a particular investment has increased beyond the ESG risk appetite for the Sub-Fund, the Investment Manager will consider selling or reducing the Sub-Fund’s exposure to the relevant investment, takinginto account the best interests of the Shareholders ofthe Sub-Fund.

As explained above, the management and assessment of sustainability risks forms an important part of the Investment Manager's due diligence, however there may still be a risk that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Benchmark does not take ESG factors into account and is not used to measure the extent to which the environmental or social characteristics promoted by the Sub-Fund are met.
For further information in relation to how the Sub-Fund aims to promote environmental or social characteristics and how the Sub-Fund assesses the good governance practices of issues, please see the sections of the
Supplement headed “Investment Policy” and “Investment Strategy”.
The Manager has carefully evaluated the requirements of
the principal adverse impact consideration regime in Article 4 SFDR, (the “PAI regime”). The Manager is supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
While this Sub-Fund is categorised as an Art. 8 fund under SFDR, and promotes environmental and social characteristics by screening out issuers based on ESG scores, the investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Bond Futures |
| --- | --- |
| Swaps | Credit Default Swaps (single name and index (CDS)) |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub-Fund utilises the following financial indices for investment purposes, where it is more efficient to do so or in circumstances in which the Sub-Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices used to provide exposure to global fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit CDX North American High Yield |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically will not be rebalanced regularly. However, as the Sub- Fund does not aim to replicate or track these indices it will not be directly impacted by the indices rebalancing, associated costs or any stock weighting which would exceed the permitted investment restrictions.
Details on where to find additional information on the indices named above are provided in ‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market they represent and where additional information can be found, will be set out in the
Company’s semi-annual and annual accounts.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 100% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, forwards and warrants. The Fund may also utilise repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS
Regulations. Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-
Fund may use for EPM purposes.

#### Securities Lending Arrangements
This Sub-Fund will not utilise securities lending arrangements and, therefore, may forego any additional returns that may be produced through such activities.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. repurchase/ reverse repurchase agreements, as described under the
heading “Efficient Portfolio Management” in the
Prospectus.
The maximum exposure of the Sub-Fund in respect of
SFTs shall be 100% of the Net Asset Value of the Sub- Fund. However, it is not anticipated that the Sub-Fund’s exposure to the SFTs will exceed 15% of the Net Asset
Value of the Sub-Fund. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be issued during their respective Initial Offer Periods at their
respective initial offer price per Share of 1USD, 1€, 1£,
1CHF, 1SGD, 10DKK, 10SEK, 10NOK, 1CAD or 1AUD
depending on the currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) share classes with the suffix “(M)”, dividends will normally be declared monthly on the last Business Day of the month. For
holders of income generating monthly distributing Shares, the declared dividends will be paid on or before the 20
th 
calendar day of the following month. In the case of all other (Inc) and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11 November respectively. Further details are set out under the heading "The Company -
Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.
The fees and expenses relating to the establishment and
organisation of the Sub-Fund including the fees of the Sub-Fund’s professional advisers will be borne by the Sub-Fund. Such fees and expenses are estimated not to exceed €30,000 and will be borne by the Sub-Fund and will be amortised over a period of up to 3 years from the
date of the launch of the Sub-Fund.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Efficient Global High Yield Beta Fund

### SUPPLEMENT 53 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- It is proposed to charge management fees and other fees and expenses of the Sub-Fund to the capital of the Sub-Fund to seek to maximise distributions. See “Fees and Expenses” in the Prospectus for further details.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
Insight North America LLC

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares, is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD A (Acc.) | USD | 5,000 | 5% | 0.40% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 0.40% | 0% |
| Euro H (Acc.) (hedged) | EUR | 5,000 | 5% | 0.40% | 0% |
| Euro H (Inc.) (hedged) | EUR | 5,000 | 5% | 0.40% | 0% |
| DKK H (Acc.) (hedged) | DKK | 50,000 | 5% | 0.40% | 0% |
| SEK H (Acc.) (hedged) | SEK | 50,000 | 5% | 0.40% | 0% |
| NOK H (Acc.) (hedged) | NOK | 50,000 | 5% | 0.40% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD C (Acc.) | USD | 5,000,000 | 5% | 0.30% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 0.30% | 0% |
| Euro I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 0.30% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 0.30% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.20% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.20% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.20% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.20% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.20% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.20% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.20% | 0% |
| DKK W (Acc.) (hedged) | DKK | 150,000,000 | 5% | 0.20% | 0% |
| SEK W (Acc.) (hedged) | SEK | 150,000,000 | 5% | 0.20% | 0% |
| NOK W (Acc.) (hedged) | NOK | 150,000,000 | 5% | 0.20% | 0% |

| “E” Shares, and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD E (Acc.) | USD | As agreed | 5% | 0.10% | 0% |
| USD E (Inc.) | USD | As agreed | 5% | 0.10% | 0% |
| Euro E (Acc.) (hedged) | EUR | As agreed | 5% | 0.10% | 0% |
| Euro E (Inc.) (hedged) | EUR | As agreed | 5% | 0.10% | 0% |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.10% | 0% |
| Sterling E (Inc.) (hedged) | GBP | As agreed | 5% | 0.10% | 0% |
| CHF E (Acc.) (hedged) | CHF | As agreed | 5% | 0.10% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| Euro X (Acc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Sterling X (Acc.) (hedged) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) (hedged) | GBP | None | 0% | 0% | 0% |
| CHF X (Acc.) (hedged) | CHF | None | 0% | 0% | 0% |
| CAD X (Acc.) (hedged) | CAD | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to provide similar performance and levels of volatility as the benchmark detailed below over the medium to long-term before fees and expenses.

##### Investment Policy
The Sub-Fund aims to achieve its investment objective by gaining exposure to the underlying debt and debt-related securities included in the Bloomberg Barclays Global High Yield Corporate USD Hedged Total Return Index (the
“Benchmark”).
The Sub-Fund may also invest in debt or debt-related securities not included in the Benchmark where the relevant issuer has other securities included in the Benchmark or where the debt or debt-related security meets the requirements of, and is expected to be included in the Benchmark in the future. This allows the Sub-Fund to purchase securities when they are first issued rather than when they are added to the Benchmark. The Sub-Fund may continue to hold securities which were included in the Benchmark at the time of purchase even if they are subsequently removed from the Benchmark.
The Sub-Fund may invest in fixed rate corporate debt and debt-related securities, which may be issued as 144A or
Reg S securities, including bonds and debentures and FDI hereinafter “Debt and Debt-Related Securities”. FDI are listed below under the heading “Use of FDI”.
The Sub-Fund may invest up to 90% of its Net Asset Value in Debt and Debt-Related Securities issued as 144A or Reg S securities.
The Sub-Fund may gain exposure to any of the underlying debt and debt-related securities in the Benchmark with the exception of contingent convertible securities
(“CoCos”). While the Benchmark excludes CoCos with explicit triggers (per the Benchmark’s rules for inclusion) it does include Debt and Debt-Related Securities which
can be classified as CoCos due to their implicit (or discretionary) triggers.
CoCos can convert from debt to equity through explicit triggers or implicit (or discretionary) triggers; these are set out in the relevant terms and conditions of the issue.
- CoCos with explicit triggers have a numerical, contractual threshold created by the issuer. If the threshold is breached, it automatically triggers the conversion from debt to equity.
- CoCos with implicit (or discretionary) triggers have a non-numerical, contractual threshold which is defined by a regulator and not by the issuer. If the threshold is breached, the conversion from debt to equity is triggered solely at the discretion of this regulator.

Please see the “Debt Instruments Directory” for the description of CoCos and the “Contingent Convertible Securities (CoCos) Risk” in the Prospectus for details of the risks associated with CoCos
Currently less than 2% of the debt and debt-related securities included in the Benchmark are classified as CoCos due to their implicit (or discretionary) triggers.
Such classifications are visible to the Investment Manager and flagged within the Investment Manager’s compliance systems as debt and debt-related securities
to which the Sub-Fund cannot gain exposure. Given the
level of exposure the Benchmark has to CoCos, such exclusion will not impact the Sub-Fund’s ability to achieve its investment objective.
The Sub-Fund will invest the majority of its Net Asset Value in high yield sub-investment grade Debt and Debt- Related Securities as rated by a Recognised Rating Agency at time of purchase. Securities are classified as sub-investment grade if the median rating of these agencies is Ba1/BB+/BB+ or below. When a rating from only two agencies is available, the lower rating is used; when only one agency rates a security, that rating is used. The Sub-Fund may continue to hold Debt and Debt- Related Securities which lose their rating and become unrated or which are upgraded to investment grade after purchase. Debt and Debt-Related Securities which are unrated or which are investment grade are not expected
to exceed 10% of the Sub-Fund’s Net Asset Value.
The Sub-Fund will primarily invest directly in the underlying Debt and Debt-Related Securities included in the Benchmark but will also, on an ancillary basis, gain
exposure indirectly to the constituents of the Benchmark via Credit Default Swaps (“CDS”) indices as described in the Financial Indices section below and collective investment schemes (“CIS”).
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in open-ended CIS including money
market funds and open-ended exchange traded funds (“ETFs”).
The Sub-Fund may hold cash and liquid near cash assets in certain circumstances. Please see ‘Cash and Collateral Management’ below for further details.
The Sub-Fund intends to invest globally with no
particular industry or sector focus, however the Sub-Fund may at times be concentrated in particular industry or geographical sectors, including the U.S., depending on where the Investment Manager sees investment opportunity or where the Benchmark is focused.
The Sub-Fund may invest up to 20% of its Net Asset Value in emerging markets, including up to 10% of its Net Asset Value in Russian securities listed or traded on the Moscow Exchange.
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in transferable securities, which are not admitted to or dealt in on an Eligible Market, in accordance with the UCITS Regulations. With the exception of permitted investments in open-ended CIS,
the Sub-Fund’s investments shall be listed or traded on
Eligible Markets listed in Appendix II of the Prospectus.
Whilst the Sub-Fund’s base currency is USD, it will invest in non-USD denominated assets that will be hedged back into USD using currency-related FDI. The currency-related
FDI which may be used by the Sub-Fund for hedging purposes are further described in the Prospectus in the
section entitled “Financial Derivative Instruments and Techniques”.

##### Cash and Collateral Management
The Sub-Fund will hold cash and liquid near cash assets in certain circumstances, such as meeting redemptions, facilitating payment of expenses, holding cash on deposit pending reinvestment and to provide liquidity and collateral to support FDI exposure.
Liquid near cash assets may include money market instruments such as U.S. treasury bills, treasury bonds and bank deposits. It is intended that issuers and/or guarantors of any such securities and instruments will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a Recognised Rating Agency, or will be deemed by the Investment Manager to be of equivalent quality.

##### Benchmark
Bloomberg Barclays Global High Yield Corporate Bond USD Hedged TR Index (the “Benchmark”).
The Benchmark measures the performance of the global high yield debt market. The Benchmark is a market- weighted index which includes corporate fixed income debt securities issued by corporations worldwide, as described above as Debt and Debt-Related Securities. These debt securities are sub-investment grade at the time of issuance, as previously defined, and will have a minimum maturity of at least one year as well as a minimum issue size, in accordance with guidelines set by the index provider. The Benchmark is rebalanced monthly; however the Sub-Fund does not aim to track or replicate the Benchmark and therefore will not be directly impacted by the rebalancing, associated costs or stock weighting in the Benchmark which would exceed
the permitted investment restrictions. Additional information on the family of indices to which the Benchmark belongs can be found here:
https://data.bloomberglp.com/indices/sites/2/2016/08/ Factsheet-Global-High-Yield.pdf
The Sub-Fund will measure its performance against the Benchmark.
The Investment Manager will use the Benchmark to construct the investment universe. The Sub-Fund is actively managed and does not seek to replicate the full constituents of the Benchmark. The Investment Manager has limited discretion to invest outside the Benchmark subject to the investment objective and policy.
The majority of the Sub-Fund’s holdings will be constituents of the Benchmark and as a result the Sub- Fund will be similar in its currency and sector exposures
as well as the maturity and credit quality profile.
The investment strategy restricts the extent to which the portfolio holdings may deviate from the Benchmark and consequently the extent to which it can outperform the Benchmark. The investment strategy provides similar volatility to the Benchmark over the medium to long term.

##### Investment Strategy
A top-down approach is used to construct a portfolio based on the Benchmark which provides “efficient beta”. ‘Beta’ refers to gaining market exposure while ‘efficient’ refers to achieving the ‘beta’ through the Investment Manager’s considered and cost-effective investment
decisions and strategies.
In the portfolio construction process, a selection of Debt and Debt-Related Securities will be chosen from the Benchmark by the Investment Manager examining the yield/spread, risk, sector and credit quality characteristics of the constituents of the Benchmark and selecting Debt and Debt-Related Securities such that the aggregate metrics yield/spread, risk, sector and quality of
the Sub-Fund’s holdings are closely matched and the
Sub-Fund maintains a beta of 1 to the Benchmark.
Maintaining a beta of 1 means the Sub-Fund reflects the overall performance and volatility of the Benchmark.
Where the selection of Debt and Debt-Related Securities chosen from the Benchmark does not allow the Sub-Fund to maintain a beta of 1, the Investment Manager may invest in CDS Indices or CIS to ensure the portfolio as a whole maintains a beta of 1 to the Benchmark. The
portfolio will vary over time as the Investment Manager needs to adjust the Sub-Fund’s holdings to meet the Investment Objective for the Sub-Fund.
The application of the Investment Manager’s proprietary credit model refines the security selection process. This credit model scores and ranks the investable universe by
gathering information from financial markets and corporate balance sheets to help identify the appropriate value that Debt or Debt-Related Securities are expected to trade at and incorporates fundamental indicators such as earnings quality (gross margin and profitability) and earnings revisions. The Investment Manager incorporates the information from the credit model in the asset selection process and in its ongoing monitoring of the investable universe. In this way the model helps the Investment Manager to identify Debt or Debt-Related Securities with a higher probability of downgrade, default or underperformance relative to the Benchmark. The
Investment Manager will then ensure that the Sub-Fund’s
exposure to such Debt or Debt-Related Securities will be
the same or less than such Debt or Debt-Related Securities’ weighting in the Benchmark.
The Investment Manager will look to employ efficient turnover strategies to manage the portfolio in a cost effective manner. For example, the Investment Manager may hold Debt or Debt-Related Securities that no longer are included in the Benchmark, but where selling these would incur unnecessary trading costs. While the Investment Manager seeks to provide a return which reflects the Benchmark over the medium to long-term, the Investment Manager does not seek to track the Benchmark on a day-to-day basis. This means the Investment Manager does not focus on the tracking error of the Sub-Fund against the Benchmark and the Investment Manager does not have to take any actions intended to minimise the tracking error. Rather, by combining strategies which address inefficiencies of the Benchmark the Investment Manager seeks to deliver an efficient beta investment solution for investors.

##### The Sustainable Finance Disclosure Regulation
Due to the investment objective of this Sub-Fund, the Investment Manager has limited discretion to deviate from the characteristics and exposures of the Benchmark. This discretion allows the Investment Manager, for instance, to invest in securities not included in the Benchmark where such securities meet the requirements of, and are expected to be included in the Benchmark in the future and to continue to hold securities which were included in the Benchmark at the time of purchase, even if they are subsequently removed from the Benchmark. The Benchmark does not take ESG factors or sustainability risks into account. Consequently, the Investment Manager does not integrate sustainability risks (which is defined as an ESG event or condition that, if it occurs, could cause an actual or a potential material
negative impact on the value of the relevant investment (an “ESG Event”) into its investment decisions. However, due to the diversified nature of the Sub-Fund, the
Investment Manager has determined that the sustainability risk faced by the Sub-Fund is minimal.
The Manager has carefully evaluated the requirements of
the principal adverse impact consideration regime in Article 4 SFDR, (the “PAI regime”). The Manager is supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Bond Futures |
| --- | --- |
| Swaps | Credit Default Swaps (single name and index (CDS)) |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub- Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit iTraxx Europe (crossover) Markit CDX North American High Yield |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. However, as the Sub- Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX–Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where
additional information can be found, will be set out in the Company’s semi-annual and annual accounts.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 100% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps and forwards. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio
Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. securities lending
arrangements and repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of SFTs shall be 100% of the Net Asset Value of the Sub-
Fund. However, it is not anticipated that the Sub-Fund’s
exposure to the SFTs will exceed 15% of the Net Asset
Value of the Sub-Fund. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1€, 1£, 1CHF, 10DKK, 10SEK, 10NOK or 1CAD depending on the
currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11
November respectively. Further details are set out under the heading "The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.
The fees and expenses relating to the establishment and
organisation of the Sub-Fund including the fees of the Sub-Fund’s professional advisers will be borne by the Sub-Fund. Such fees and expenses are estimated not to exceed €30,000 and will be borne by the Sub-Fund and will be amortised over a period of up to 3 years from the
date of the launch of the Sub-Fund.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## Responsible Horizons Euro Corporate Bond Fund

### SUPPLEMENT 54 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.


#### The Investment Manager
Insight Investment Management (Global) Limited

#### Base Currency
Euro

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro A (Acc.) | EUR | 5,000 | 5% | 0.95% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 0.95% | 0% |
| USD H (Acc.) (hedged) | USD | 5,000 | 5% | 0.95% | 0% |
| USD H (Inc.) (hedged) | USD | 5,000 | 5% | 0.95% | 0% |
| DKK H (Acc.) (hedged) | DKK | 50,000 | 5% | 0.95% | 0% |
| SEK H (Acc.) (hedged) | SEK | 50,000 | 5% | 0.95% | 0% |
| NOK H (Acc.) (hedged) | NOK | 50,000 | 5% | 0.95% | 0% |

| “G” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro G (Acc.) | EUR | 5,000 | 5% | 0.45% | 0% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 0.45% | 0% |

| “C” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro C (Acc.) | EUR | 5,000,000 | 5% | 0.45% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 0.45% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro W (Acc.) | EUR | 15,000,000 | 5% | 0.35% | 0% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.35% | 0% |
| USD W (Acc.) (hedged) | USD | 15,000,000 | 5% | 0.35% | 0% |
| USD W (Inc.) (hedged) | USD | 15,000,000 | 5% | 0.35% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.35% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.35% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.35% | 0% |
| DKK W (Acc.) (hedged) | DKK | 15,000,000 | 5% | 0.35% | 0% |
| SEK W (Acc.) (hedged) | SEK | 15,000,000 | 5% | 0.35% | 0% |
| NOK W (Acc.) | NOK | 150,000,000 | 5% | 0.35% | 0% |

| “Z” Shares and “Z (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro Z (Acc.) | EUR | 200,000,000 | 5% | 0.25% | 0% |
| Euro Z (Inc.) | EUR | 200,000,000 | 5% | 0.25% | 0% |
| USD Z (Acc.) (hedged) | USD | 200,000,000 | 5% | 0.25% | 0% |
| USD Z (Inc.) (hedged) | USD | 200,000,000 | 5% | 0.25% | 0% |
| Sterling Z (Acc.) (hedged) | GBP | 200,000,000 | 5% | 0.25% | 0% |
| Sterling Z (Inc.) (hedged) | GBP | 200,000,000 | 5% | 0.25% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) | EUR | None | 0% | 0% | 0% |
| USD X (Acc.) (hedged) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) (hedged) | USD | None | 0% | 0% | 0% |
| Sterling X (Acc.) (hedged) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) (hedged) | GBP | None | 0% | 0% | 0% |
| CHF X (Acc.) (hedged) | CHF | None | 0% | 0% | 0% |
| CAD X (Acc.) (hedged) | CAD | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to generate a total return comprised of income and capital growth by investing primarily in a broad range of Euro-denominated debt and debt-related securities and related FDI, whilst taking environmental,
social and governance (“ESG”) factors into account.

##### Investment Policy
The Sub-Fund will invest the majority of its assets (meaning at least 51% of the Sub-Fund’s Net Asset Value) in fixed or floating investment grade corporate debt. The
Sub-Fund invests primarily (meaning at least 70% of the Sub-Fund’s Net Asset Value) in Euro-denominated debt and debt-related securities.
The debt and debt-related securities the Sub-Fund may invest include corporate fixed and floating rate notes, Convertible Bonds, Contingent Convertible Securities
(“CoCos”), Covered Bonds, Puttable Bonds, Callable Bonds, Debentures, Zero-Coupon Bonds as well as
Eurobonds and Bullet Bonds, supranational agency bonds, Agency Bonds, Use of Proceeds Impact Bonds, fixed and floating rate government bonds, Municipal Bonds, Index-Linked Bonds and Inflation-Linked Bonds
(“ILBs”) and money market instruments (such as
certificate of deposits, commercial paper and overnight deposits) and related FDI (as listed in “Use of FDI” below) hereinafter “Debt and Debt-Related Securities”.
Please see “Structured Products Risk”, “Fixed Income Securities Risks” and “Risks of Investing in Callable and Puttable Bonds” respectively in the Prospectus for details
of the risks associated with covered bonds, bullet bonds,
callable and puttable bonds.
The Sub-Fund may have exposure of up to 5% of its Net Asset Value to CoCos. Please see “Contingent Convertible Securities (CoCos) Risk” in the Prospectus for details of the risks associated with CoCos.
The Sub-Fund will invest in investment grade Debt and Debt-Related Securities as rated by a Recognised Rating Agency. The Debt and Debt-Related Securities are classified as investment grade if at time of purchase, the median rating of the security is above Ba1/BB+/BB+. In addition, the Sub-Fund may invest up to 20% in below investment grade Debt and Debt-Related Securities.
The Sub-Fund will not invest in Debt and Debt-Related rated as of the date of purchase below B- (or its equivalent) as rated by a Recognised Rating Agency. For the avoidance of doubt, the Sub-Fund will not invest in mortgage-backed securities, asset-backed securities, or other investments linked to credit risk. The Sub-Fund may invest in unrated Debt and Debt-Related Securities provided the Investment Manager deems them to be of an equivalent quality as set out above. In the case of a split rating (i.e. different ratings are given by two or more rating agencies), the lower of the two highest ratings will be considered. In the event that any Debt and Debt- Related Securities held by the Sub-Fund are subsequently downgraded below the limits referred to above, the Investment Manager may maintain a maximum exposure of 3% of the Net Asset Value of the Sub-Fund to such downgraded securities. To the extent that the aggregate value of such securities or instruments exceeds 3% of the Net Asset Value of the Sub-Fund, any which have not been upgraded within a six-month period will be sold. Exposures arising from the underlying
holdings of collective investment schemes (“CIS”) will be
taken into account in the application of the restrictions
set out in this paragraph.
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in open-ended CIS including exchange
traded funds (“ETFs”) and money market funds. CIS may
include another Sub-Fund or Sub-Funds of the Company
or other funds advised by the Investment Manager. Any investment in closed-ended ETFs constituting transferable securities will be in accordance with the criteria and investment limits for transferable securities,
as set out under the heading “The Company - Investment and Borrowing Restrictions” in the Prospectus.
The Sub-Fund may also hold high levels of cash and money market instruments in certain circumstances.
Please see ‘Cash and Collateral Management’ below for
further details.
The Sub-Fund intends to invest globally with no
particular industry or sector focus, however the Sub-Fund may at times be concentrated in particular industry or geographical sectors depending on where the Investment Manager sees investment opportunity. Certain sectors
will be avoided as a result of the ESG factors that are taken into account.
The Sub-Fund may invest up to 10% of its Net Asset Value in emerging markets, including up to 10% in Russian securities listed or traded on the Moscow exchange.
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in transferable securities (i.e. Debt and Debt-Related Securities) which are not admitted to or dealt in on an Eligible Market in accordance with the UCITS Regulations. With the exception of permitted investment in unlisted transferable securities and
approved money market instruments, the Sub-Fund’s
investments shall be listed or traded on Eligible Markets.
A list of the Eligible Markets is set out in Appendix II of the Prospectus.
Whilst the Sub-Fund's Base Currency is Euro, the Sub- Fund may invest in non-Euro denominated assets which may not necessarily be hedged back to Euro using currency-related FDI.

##### Cash and Collateral Management
The Sub-Fund will hold cash and liquid near cash assets in certain circumstances, such as meeting redemptions, facilitating payment of expenses, holding cash on deposit pending reinvestment and to provide collateral to support FDI exposure. In exceptional circumstances, the Sub- Fund may temporarily hold high levels of cash and liquid
near cash assets (i.e. up to 100% of the Sub-Fund’s Net
Asset Value) where market conditions may require a
defensive investment strategy (e.g. market crash or major crisis).
Liquid near cash assets may include money market instruments and bank deposits. It is intended that issuers and/or guarantors of any such securities and instruments will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a Recognised Rating Agency, or will be deemed by the Investment Manager to be of equivalent quality.

##### Benchmark
Bloomberg Barclays Euro Aggregate Corporate Total Return Index (the “Benchmark”).
The Benchmark includes fixed-rate, investment-grade Euro denominated corporate bonds. Inclusion is based on the currency of the issue, and not the domicile of the issuer.
Additional information on the Benchmark can be found here:
https://www.bloomberg.com/quote/LECPTREU:IND
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has discretion to invest outside the Benchmark subject to the investment objective and policy. However, as the Benchmark covers a significant
proportion of the investable universe, the majority of the Sub-Fund’s holdings will be constituents of the
Benchmark and the weightings in the portfolio may be similar to those of the Benchmark. The investment strategy will restrict the extent to which the portfolio holdings may deviate from the Benchmark and consequently the extent to which the Sub-Fund can outperform the Benchmark.
The Benchmark is a broad based market benchmark that does not take ESG factors into account and is not used to measure the extent to which the environmental or social characteristics promoted by the Sub-Fund are met.

##### Investment Strategy
The investment strategy of the Sub-Fund is a combination of ‘top down’ macro analysis and ‘bottom-up’ credit research undertaken by and proprietary to the
Investment Manager.
The ‘top-down’ analysis consists of:
- understanding the current and future macroeconomic environment, for employment levels, inflation, interest rates, and what impact these factors may have on Debt and Debt Related Securities and currencies. This understanding is developed using a number of sources including economic data releases, central bank policy statements and a review of historical data;and
- analysing the different asset classes that make up the investments in the Sub-Fund, i.e. credit, emerging market debt and government bonds to assess their return generating potential.

The ‘bottom-up’ credit research and analysis involves an assessment of the creditworthiness of the issuer incorporating an analysis of key credit metrics, such as
leverage and cash flow. A relative value assessment of the issuer's debt instruments relative to comparable debt instruments may also be undertaken to supplement the credit research and analysis. This approach aims to identify, on a worldwide basis and without any specific geographical or sectoral focus, investments with good total return generating potential.
Once this analysis is complete the Investment Manager can decide the asset allocation of the Sub-Fund, i.e. what percentage of the assets to invest in the asset classes.
The Investment Manager may consider factors such as expense and ease of implantation when deciding how to implement the investment strategy and gain exposure to the asset classes, e.g. using FDI or CIS rather than buying assets directly.
Selecting the individual securities is made with input from the credit teams within the Investment Manager who specialise in specific sectors or industries, e.g. telecoms, automobiles, technology, manufacturing and government bonds.
Synthetic short positions are typically used:
- as a hedge for long market positions, for example ifthe Investment Manager wants to decrease the Sub- Fund’s exposure to credit risk against that of the Benchmark;
- as a hedge for long single name positions, for example where the Investment Manager wants to reduce the credit risk of a particular corporate bond, but may not be able to sell the bond at an attractive price; or
- to achieve positive returns and take a directional view on the market, for example, the Investment Manager believes that the price of certain corporate bonds may fall and wants to make a return on this price move.

In making its investments the Sub-Fund will also use a combination of external and/or internal ESG research as
well as ‘bottom-up’ credit research and relative value
assessments (detailed above) to evaluate an investment.
The characteristics promoted by this Sub-Fund will include positive allocation to issuers with stronger (better) ESG ratings while excluding issuers with weaker (worse) ESG ratings. Other characteristics promoted by this Sub-Fund include removing exposure to issuers with business revenue or operating activities that are considered by the Investment Manager to demonstrate excessive environmental, social or reputational sustainability risks.
In identifying investments which allows the Sub-Fund to promote ESG characteristics, the Investment Manager screens and excludes certain instruments and issuers using ESG criteria to create a reduced, ESG optimised investment universe. Within that investment universe, the Investment Manager positively allocates towards higher scoring, best in universe, ESG issuers. The Investment Manager will also structurally allocate to positive impact instruments and issuers and target a carbon intensity below the level of the Benchmark.
Further detail is provided below:
- ESG Scoring; The Investment Manager assesses the overall suitability of an issuer based on the ESG score:
	- provided by a recognised provider of ESG ratings;
	- pursuant to an internal assessment of an issuerThe ESG data allows the Investment Manager to understand ESG risk profiles and, if appropriate, screen out unsuitable holdings based on this analysis. ESG scores are determined in order to distinguish high risk from low risk companies with a view to creating a distribution of scores that illustrates this differential.


However, the Sub-Fund may have exposure to issuers involved in environmentally sensitive industries, which are exposed to climate change risk or are carbon intensive e.g. coal mining, coal power generation, unconventional oil and gas extraction provided that the exposure is achieved via Use Of Proceeds Impact Bonds, the Investment Manager believes the issuer has a clearly defined, long-term plan to address its environmental impact and the Investment Manager considers the instrument issued meets its ESG criteria.
The Investment Manager is dependent upon information and data from third parties (which may include providers for research, reports, screenings, ratings and/or analysis such as index providers and consultants). Such information or data may be incomplete, inaccurate or inconsistent.
- Screening: The Sub-Fund seeks to obtain exposure to issuers with stronger ESG scores. Issuers that are judged to have weaker ESG scores (for example, as a result of high carbon risks and/or demonstrate severe breaches of internationally accepted norms including, but not limited to, bribery, labour rights orenvironmental impact) will be excluded. Issuers will also be excluded where their revenue is significantly derived from products that are considered unsuitable for the Sub-Fund based on its ESG focus (for example, tobacco, defence, gambling and coal extraction).

At least 90% of the instruments held in the Sub-Fund must meet these criteria at time of purchase and on ongoing basis and no investment will be made in an instrument that is deemed to have material unresolvable environmental issues.
Instruments which do not continue to meet these criteria after purchase may be sold, alternatively, the Sub-Fund may continue to hold the instrument after engagement by the Investment Manager with the issuer to discern the risks identified by the change in ESG score.
Corporate governance is a key sustainability risk factor forming part of the Investment Manager’s proprietary ESG risk ratings for all companies in the Sub-Fund. The Investment Manager’s corporate governance assessment includes evaluating board practices and behaviour,
remuneration, control and accountability, and ethics or controversies. The Investment Manager applies the
insights from ESG ratings alongside their own knowledge of issuers’ governance structures to set engagement priorities with issuers. The Investment Manager consider
these risks together to decide whether bond securities reasonably compensate the Sub-Fund for sustainability risks over the long and short-term.

##### The Sustainable Finance Disclosure Regulation
The Sub-Fund integrates sustainability risk into investment decisions and promotes environmental or social characteristics and invests in companies with good governance for the purposes of Article 8 of the SFDR.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively impacted by
an ESG event or condition (“ESG Event”).
Sustainability risks are managed by ensuring senior decision makers are informed and included in the
Investment Manager’s responsible investment
programme, and set effective accountability,
transparency and implementation procedures. Where sustainability risk issues are considered material to investment outcomes, they are incorporated into due diligence processes. This may include evaluating individual securities and/or interaction with issuers or market participants. Internal controls ensure ESG criteria are applied to the Sub-Fund continuously. ESG restrictions, which includes proprietary ESG ratings and third-party data, are set to prevent or permit investment in securities that meet ESG-related characteristics. These controls are coded and updated as new information is absorbed. An ESG research and/or engagement process can help the Investment Manager to achieve the Sub- Fund's targeted investment and ESG-related objectives.
As further detailed under the section headed “Investment Strategy”, corporate governance is a key sustainability risk factor forming part of proprietary ESG risk ratings for
all issuers.
In terms of social and environmental factors, proprietary ESG ratings methodology provides all analysts with sector specific and issuer specific information on key
issues. This model helps the Investment Manager to identify key risks that a specific sector or issuer may be facing.
As the Sub-Fund considers ESG factors throughout the investment process, the Investment Manager may deliberately forego opportunities for the Sub-Fund to gain exposure to certain issuers and it may choose to sell a security when it might otherwise be disadvantageous to do so. Instead, the Sub-Fund may focus on investments in issuers that demonstrate adherence to environmental, social and good governance practices. Accordingly, the universe of investments for the Sub-Fund is smaller than that of other funds, which may affect performance and there is a risk that that the value of the Sub-Fund could be negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of
the principal adverse impact consideration regime in Article 4 SFDR, (the “PAI regime”). The Manager is supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The EU Taxonomy Regulation Technical Screening Criteria (“TSC”) will require the availability of multiple, specific data points regarding each investment. At the date
hereof, there is insufficient reliable, timely and verifiable data available for the Manager to be able to assess the investments of the Sub-Fund using the TSC.
In addition, the regulatory technical standards for the SFDR which define the methodology for the calculation of the share of EU Taxonomy-alignment for financial products such as the Sub-Fund and the templates for the required disclosures are not yet final. As at the date hereof, the Manager is not able to provide standardised and comparable disclosures on the alignment of the Sub-
Fund’s investments with the EU Taxonomy Regulation.
While there are investments in the Sub-Fund that are in economic activities that contribute to an environmental objective and may be eligible to be assessed against the TSC, the Manager is not currently in a position to describe:
- The extent to which the investments of the Sub-Fund are in Environmentally Sustainable Economic Activities;
- The proportion, as a percentage of the Sub-Fund’s portfolio, of investments in Environmentally Sustainable Economic Activities; or
- The proportion, as a percentage of the Sub-Fund’s portfolio of EU Taxonomy Regulation Enabling Activities and “EU Taxonomy Regulation Transitional Activities.

The Manager is keeping this situation under active review
and where sufficient reliable, timely and verifiable data on the Sub-Fund’s investments become available, the Manager will provide the descriptions referred to above,
in which case, this Prospectus or the relevant Supplement will be updated.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Interest Rate Futures (including Short Term Interest Rate Futures) Government Bond Futures Bond Futures |
| --- | --- |
| Options | Index Options Options on Interest Rate Futures Bond Options Options on Bond Futures Swaptions Options on Credit Default Swaps |
| Swaps | Credit Default Swaps Credit Default Swaps Index/Basket Interest Rate Swaps Inflation Swaps Asset Swaps Index Swaps Total Return Swaps (TRS) (single name, credit, index and custom basket) |
| Securi- ties with Embed- ded FDI/ Leverage | Convertible Bonds Contingent Convertible Securities (CoCos) Callable and Puttable Bonds |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub- Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit iTraxx Europe Main 5yr Markit iTraxx Europe Crossover 5yr Markit iTraxx Europe Senior Financials 5yr Markit iTraxx Europe Subordinated Financials 5yr |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. However, as the Sub- Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX–Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where
additional information can be found, will be set out in the Company’s semi-annual and annual accounts.

##### Long and Short Positions
The Sub-Fund may employ synthetic long and synthetic short exposures in each of the asset classes referenced in the Investment Policy to achieve its investment objective. The total net long exposure (after taking account of hedging) through FDI will not exceed 100% of the Net Asset Value of the Sub-Fund and the total net short exposure will not exceed 100% of the Net Asset Value of the Sub-Fund (using the commitment approach).

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 100% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, forwards, and warrants. The Sub-Fund may also utilise repurchase/ reverse repurchase agreements for EPM purposes,
subject to the conditions and limits set out in the Central Bank UCITS Regulations. Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI
the Sub-Fund may use for EPM purposes.

#### Securities Lending Arrangements
This Sub-Fund will not utilise securities lending arrangements and, therefore, may forego any additional returns that may be produced through such activities.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in SFTs, i.e. repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management”in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 30% and in respect of SFTs shall be 100%
of the Net Asset Value of the Sub-Fund. However, it is not anticipated that the Sub-Fund’s exposure in respect of TRS will exceed 20% and in respect of SFTs will
exceed 30% of the Net Asset Value of the Sub-Fund. The types of assets that will be subject to TRS and SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”,
“Appendix III - Management of Collateral”, “Appendix III -
Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1€, 1USD, 1£, 1CHF, 10DKK, 10SEK, 10NOK or 1CAD depending on the
currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11 November respectively. Further details are set out under
the heading "The Company - Distribution Policy” in the
Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.
The fees and expenses relating to the establishment and
organisation of the Sub-Fund including the fees of the Sub-Fund’s professional advisers will be borne by the Sub-Fund. Such fees and expenses are estimated not to exceed €40,000 and will be borne by the Sub-Fund and will be amortised over a period of up to 4 years from the
date of the launch of the Sub-Fund.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Efficient Euro High Yield Beta Fund

### SUPPLEMENT 55 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- It is proposed to charge management fees and other fees and expenses of the Sub-Fund to the capital of the Sub-Fund to seek to maximise distributions. See “Fees and Expenses” in the Prospectus for further details.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
Insight North America LLC

#### Base Currency
Euro

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares, is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro A (Acc.) | EUR | 5,000 | 5% | 0.40% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 0.40% | 0% |
| USD H (Acc.) (hedged) | USD | 5,000 | 5% | 0.40% | 0% |
| USD H (Inc.) (hedged) | USD | 5,000 | 5% | 0.40% | 0% |
| DKK H (Acc.) (hedged) | DKK | 50,000 | 5% | 0.40% | 0% |
| SEK H (Acc.) (hedged) | SEK | 50,000 | 5% | 0.40% | 0% |
| NOK H (Acc.) (hedged) | NOK | 50,000 | 5% | 0.40% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro G (Acc.) | EUR | 5,000 | 5% | 0.30% | 0% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 0.30% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro C (Acc.) | EUR | 5,000,000 | 5% | 0.30% | 0% |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 0.30% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro W (Acc.) | EUR | 15,000,000 | 5% | 0.20% | 0% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.20% | 0% |
| USD W (Acc.) (hedged) | USD | 15,000,000 | 5% | 0.20% | 0% |
| USD W (Inc.) (hedged) | USD | 15,000,000 | 5% | 0.20% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.20% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.20% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.20% | 0% |
| DKK W (Acc.) (hedged) | DKK | 150,000,000 | 5% | 0.20% | 0% |
| SEK W (Acc.) (hedged) | SEK | 150,000,000 | 5% | 0.20% | 0% |
| NOK W (Acc.) (hedged) | NOK | 150,000,000 | 5% | 0.20% | 0% |

| “E” Shares, and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro E (Acc.) | EUR | As agreed | 5% | 0.10% | 0% |
| Euro E (Inc.) | EUR | As agreed | 5% | 0.10% | 0% |
| USD E (Acc.) (hedged) | USD | As agreed | 5% | 0.10% | 0% |
| USD E (Inc.) (hedged) | USD | As agreed | 5% | 0.10% | 0% |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.10% | 0% |
| Sterling E (Inc.) (hedged) | GBP | As agreed | 5% | 0.10% | 0% |
| CHF E (Acc.) (hedged) | CHF | As agreed | 5% | 0.10% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) | EUR | None | 0% | 0% | 0% |
| USD X (Acc.) (hedged) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) (hedged) | USD | None | 0% | 0% | 0% |
| Sterling X (Acc.) (hedged) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) (hedged) | GBP | None | 0% | 0% | 0% |
| CAD X (Acc.) (hedged) | CAD | None | 0% | 0% | 0% |
| CHF X (Inc.) (hedged) | CHF | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to provide similar performance and levels of volatility as the Benchmark detailed below over the medium to long-term before fees and expenses.

##### Investment Policy
The Sub-Fund aims to achieve its investment objective by gaining exposure to the underlying debt and debt-related securities included in the Bloomberg Barclays Pan- European High Yield (Euro) Total Return Index (the
“Benchmark”).
The Sub-Fund may also invest in debt or debt-related securities not included in the Benchmark where the issuer has other securities included in the Benchmark or where the debt or debt-related security meets the requirements of, and is expected to be included in the Benchmark in the future. The Sub-Fund may continue to hold securities which were included in the Benchmark at the time of purchase even if they are subsequently removed from the Benchmark. The Sub-Fund will not invest in emerging market debt or debt-related securities.
The Sub-Fund may invest in fixed rate corporate debt and debt-related securities, which may be issued as 144A or
Reg S securities, including bonds and debentures and FDI hereinafter “Debt and Debt-Related Securities”. FDI are listed below under the heading “Use of FDI”.
The Sub-Fund may gain exposure to any of the underlying debt and debt-related securities with the exception of
contingent convertible securities (“CoCos”). While the
Benchmark excludes CoCos with explicit triggers (per the Benchmark’s rules for inclusion) it does include Debt and Debt-Related Securities which can be classified as CoCos
due to their implicit (or discretionary) triggers.
CoCos can convert from debt to equity through explicit triggers or implicit (or discretionary) triggers; these are set out in the relevant terms and conditions of the issue.
- CoCos with explicit triggers have a numerical, contractual threshold created by the issuer. If thethreshold is breached, it automatically triggers the conversion from debt to equity.
- CoCos with implicit (or discretionary) triggers have anon-numerical, contractual threshold which is defined bya regulator and not by the issuer. If the threshold is breached, the conversion from debt to equity is triggered solely at the discretion of this regulator.

Please see the “Debt Instruments Directory” for the description of CoCos and the “Contingent Convertible Securities (CoCos) Risk” in the Prospectus for details of the risks associated with CoCos.
Currently less than 2% of the debt and debt-related securities included in the Benchmark are classified as CoCos due to their implicit (or discretionary) triggers. Such classifications are visible to the Investment
Manager and flagged within the Investment Manager’s
compliance systems as debt and debt-related securities
to which the Sub-Fund cannot gain exposure. Given the
level of exposure the Benchmark has to CoCos, such exclusion will not impact the Sub-Fund’s ability to achieve its investment objective.
The Sub-Fund will invest the majority of its Net Asset Value in sub-investment grade Debt and Debt-Related Securities as rated by a Recognised Rating Agency at time of purchase. Securities are classified as sub- investment grade if the median rating of these agencies is Ba1/BB+/BB+ or below. When a rating from only two agencies is available, the lower rating is used; when only one agency rates a security, that rating is used. The Sub- Fund may continue to hold Debt and Debt-Related Securities which lose their rating and become unrated or which are upgraded to investment grade after purchase. Debt and Debt-Related Securities which are unrated or
which are upgraded are not expected to exceed 10% of the Sub-Fund’s Net Asset Value.
The Sub-Fund will primarily invest directly in the underlying Debt and Debt-Related Securities included in the Benchmark but will also, on an ancillary basis, gain exposure indirectly to the constituents of the Benchmark
via Credit Default Swaps (“CDS”) indices as described in
the Financial Indices section below and collective investment schemes (“CIS”).
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in open-ended CIS including money
market funds and open-ended exchange traded funds (“ETFs”).
The Sub-Fund may hold cash and liquid near cash assets in certain circumstances. Please see ‘Cash and Collateral Management’ below for further details.
The Sub-Fund intends to invest in Euro denominated Debt and Debt-Related Securities by issuers based in developed markets. The Sub-Fund at times, may be concentrated in a particular industry sector depending on where the Investment Manager sees investment opportunities or where the Benchmark is focused.
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in transferable securities which are not admitted to or dealt in on an Eligible Market, in accordance with the UCITS Regulations. With the
exception of permitted investments in open ended CIS, the Sub-Fund’s investments shall be listed or traded on Eligible Markets listed in Appendix II of the Prospectus.

##### Cash and Collateral Management
The Sub-Fund will hold cash and liquid near cash assets in certain circumstances, such as meeting redemptions, facilitating payment of expenses, holding cash on deposit pending reinvestment and to provide liquidity and collateral to support FDI exposure.
Liquid near cash assets may include money market instruments such as U.S. treasury bills, treasury bonds and bank deposits. It is intended that issuers and/or guarantors of any such securities and instruments will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a Recognised Rating Agency, or will be deemed by the Investment Manager to be of equivalent quality.

##### Benchmark
Bloomberg Barclays Pan-European High Yield (Euro) Total Return Index (the “Benchmark”).
The Benchmark is a measure of the market for Euro denominated high yield, fixed-rate corporate debt issued by issuers based in developed markets. The Benchmark includes Debt and Debt-Related Securities from issuers
within the industrial, utility and financial sectors. The Benchmark is rebalanced monthly; however the Sub-Fund does not aim to track or replicate the Benchmark and therefore will not be directly impacted by the rebalancing, associated costs or stock weighting changes in the Benchmark which would exceed the permitted investment restrictions.
Additional information on the Benchmark can be found here:
https://www.bloomberg.com/quote/LP02TREU:IND
The Sub-Fund will measure its performance against the Benchmark.
The Investment Manager will use the Benchmark to construct the investment universe. The Sub-Fund is actively managed and does not seek to replicate the full constituents of the Benchmark. The Investment Manager has limited discretion to invest outside the Benchmark subject to the investment objective and policy.
The majority of the Sub-Fund’s holdings will be constituents of the Benchmark and as a result the Sub-
Fund will be similar in its currency and sector exposures as well as the maturity and credit quality profile.
The investment strategy restricts the extent to which the portfolio holdings may deviate from the Benchmark and consequently the extent to which it can outperform the Benchmark. The investment strategy provides similar volatility to the Benchmark over the medium to long term.

##### Investment Strategy
A top-down approach is used to construct a portfolio based on the Benchmark which provides “efficient beta”. ‘Beta’ refers to gaining market exposure while ‘efficient’ refers to achieving the ‘beta’ through the Investment Manager’s considered and cost-effective investment
decisions and strategies.
In the portfolio construction process, a selection of Debt and Debt-Related Securities will be chosen from the Benchmark by the Investment Manager examining the yield/spread, risk, sector and credit quality characteristics of the constituents of the Benchmark and selecting Debt and Debt-Related Securities such that the
aggregate metrics yield/spread, risk, sector and quality of the Sub-Fund’s holdings and its beta are closely matched and the Sub-Fund maintains a beta of 1 to the
Benchmark. Maintaining a beta of 1 means the Sub-Fund reflects the overall performance and volatility of the Benchmark. Where the selection of Debt and Debt- Related Securities chosen from the Benchmark does not allow the Sub-Fund to maintain a beta of 1, the Investment Manager may invest in CDS Indices or collective investment schemes to ensure the portfolio as a whole maintains a beta of 1 to the Benchmark. The
portfolio will vary over time as the Investment Manager needs to adjust the Sub-Fund’s holdings to meet the Investment Objective for the Sub-Fund.
The application of the Investment Manager’s proprietary credit model refines the security selection process. This credit model scores and ranks the investable universe by
gathering information from financial markets and corporate balance sheets to help identify the appropriate value that Debt or Debt-Related Securities are expected to trade at and incorporates fundamental indicators such as earnings quality (gross margin and profitability) and earnings revisions. The Investment Manager incorporates
the information from the credit model in the asset selection process and in its ongoing monitoring of the investable universe. In this way the model helps the Investment Manager to identify Debt or Debt-Related Securities with a higher probability of downgrade, default or underperformance relative to the Benchmark. The Investment Manager will, through the close monitoring of
the Benchmark and the processes described above, ensure that the Sub-Fund’s exposure to Debt or Debt- Related Securities will be the same or less than such Debt or Debt-Related Securities’ weighting in the Benchmark.
The Credit Default Swap index referred to below is utilised as a means of gaining indirect market exposure (up to 10% of its Net Asset Value) to the constituents of the Benchmark through a basket of credit default swaps on European non-investment grade credit. This is a way of gaining market exposure more quickly and cost- effectively than buying or selling cash bonds. This indirect exposure is via the use of FDI for investment purposes. As markets move, the Investment Manager
uses the Credit Default Swaps Index referred to below (see the heading “Financial Indices”) to adjust the overall portfolio such that it maintains a beta of 1 to the
Benchmark.
The Investment Manager will look to employ efficient turnover strategies to manage the portfolio in a cost effective manner. For example, the Investment Manager may hold Debt or Debt-Related Securities that no longer are included in the Benchmark, but where selling these would incur unnecessary trading costs. While the Investment Manager seeks to provide a return which reflects the Benchmark over the medium to long-term, the Investment Manager does not seek to track the Benchmark on a day-to-day basis. This means the Investment Manager does not focus on the tracking error of the Sub-Fund against the Benchmark and the Investment Manager does not have to take any actions intended to minimise the tracking error. Rather, by combining strategies which address inefficiencies of the Benchmark the Investment Manager seeks to deliver an
efficient beta investment solution for investors (as described further below under the heading “Financial Indices”).

##### The Sustainable Finance Disclosure Regulation
Due to the investment objective of this Sub-Fund, the Investment Manager has limited discretion to deviate from the characteristics and exposures of the Benchmark. This discretion allows the Investment Manager, for instance, to invest in securities not included in the Benchmark where such securities meet the requirements of, and are expected to be included in the Benchmark in the future and to continue to hold securities which were included in the Benchmark at the time of purchase, even if they are subsequently removed from the Benchmark. The Benchmark does not take ESG factors or sustainability risks into account. Consequently, the Investment Manager does not integrate sustainability risks (which is defined as an ESG event or condition that, if it occurs, could cause an actual or a potential material negative impact on the value of the relevant investment
(an “ESG Event”) into its investment decisions. However,
due to the diversified nature of the Sub-Fund, the
Investment Manager has determined that the sustainability risk faced by the Sub-Fund is minimal.
The Manager has carefully evaluated the requirements of
the principal adverse impact consideration regime in Article 4 SFDR, (the “PAI regime”). The Manager is supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Bond Futures |
| --- | --- |
| Swaps | Credit Default Swaps (single name and index (CDS)) |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub- Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit iTraxx (Europe) Crossover |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. However, as the Sub- Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX–Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where
additional information can be found, will be set out in the Company’s semi-annual and annual accounts.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 100% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, forwards and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions
and limits set out in the Central Bank UCITS Regulations. Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. securities lending arrangements and repurchase/reverse repurchase
agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of SFTs shall be 100% of the Net Asset Value of the Sub-
Fund. However, it is not anticipated that the Sub-Fund’s
exposure to the SFTs will exceed 15% of the Net Asset
Value of the Sub-Fund. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1€, 1USD, 1£, 1CHF, 10DKK, 10SEK, 10NOK, or 1CAD depending on the
currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11
November respectively. Further details are set out under the heading "The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.
The fees and expenses relating to the establishment and
organisation of the Sub-Fund including the fees of the Sub-Fund’s professional advisers will be borne by the Sub-Fund. Such fees and expenses are estimated not to exceed €30,000 and will be borne by the Sub-Fund and will be amortised over a period of up to 3 years from the
date of the launch of the Sub-Fund.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Future Earth Fund

### SUPPLEMENT 56 DATED 31 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- The Sub-Fund’s Net Asset Value may have a high level of volatility due to its investment policy.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.

In addition to the Sub-Funds listed in the Prospectus, the following Sub-Fund has been established as of the date of this Supplement:
- BNY Mellon Sustainable Global Emerging Markets Fund (see Supplement 62 for details).


#### The Investment Manager
Newton Investment Management Limited

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its investment management functions with respect to this Sub-Fund to Newton Investment Management North
America LLC (the “Sub-Investment Manager”). Details of
the Sub-Investment Management Agreement between the
Investment Manager and the Sub-Investment Manager are set out under the heading “Sub-Investment Managers” in the Prospectus.

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD A (Acc.) | USD | 5,000 | 5% | 1.85% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 1.85% | 0% |
| Euro A (Acc.) | EUR | 5,000 | 5% | 1.85% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 1.85% | 0% |
| CHF A (Acc.) | CHF | 5,000 | 5% | 1.85% | 0% |
| CHF A (Inc.) | CHF | 5,000 | 5% | 1.85% | 0% |
| Euro H (Acc.) (hedged) | EUR | 5,000 | 5% | 1.85% | 0% |
| Euro H (Inc.) (hedged) | EUR | 5,000 | 5% | 1.85% | 0% |
| DKK H (Acc.) (hedged) | DKK | 50,000 | 5% | 1.85% | 0% |
| SEK H (Acc.) (hedged) | SEK | 50,000 | 5% | 1.85% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| NOK H (Acc.) (hedged) | NOK | 50,000 | 5% | 1.85% | 0% |

| “B” Shares and “J (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD B (Acc.) | USD | 10,000 | 5% | 1.40% | 0% |
| USD B (Inc.) | USD | 10,000 | 5% | 1.40% | 0% |
| SGD J (Acc.) (hedged) | SGD | 10,000 | 5% | 1.40% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD C (Acc.) | USD | 5,000,000 | 5% | 0.90% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 0.90% | 0% |
| Euro C (Acc.) | EUR | 5,000,000 | 5% | 0.90% | 0% |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 0.90% | 0% |
| Euro I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 0.90% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 0.90% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.70% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.70% | 0% |
| Euro W (Acc.) | EUR | 15,000,000 | 5% | 0.70% | 0% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.70% | 0% |
| CHF W (Acc.) | CHF | 15,000,000 | 5% | 0.70% | 0% |
| CHF W (Inc.) | CHF | 15,000,000 | 5% | 0.70% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.70% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.70% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.70% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.70% | 0% |
| SGD W (Acc.) (hedged) | SGD | 15,000,000 | 5% | 0.70% | 0% |

| “E” Shares and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD E (Acc.) | USD | As agreed | 5% | 0.40% | 0% |
| USD E (Inc.) | USD | As agreed | 5% | 0.40% | 0% |
| Euro E (Acc.) | EUR | As agreed | 5% | 0.40% | 0% |
| Euro E (Inc.) | EUR | As agreed | 5% | 0.40% | 0% |
| CHF E (Acc.) | CHF | As agreed | 5% | 0.40% | 0% |
| CHF E (Inc.) | CHF | As agreed | 5% | 0.40% | 0% |
| Euro E (Acc.) (hedged) | EUR | As agreed | 5% | 0.40% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| Euro E (Inc.) (hedged) | EUR | As agreed | 5% | 0.40% | 0% |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.40% | 0% |
| Sterling E (Inc.) (hedged) | GBP | As agreed | 5% | 0.40% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Acc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) (hedged) | EUR | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to achieve long-term capital growth and has a sustainable investment objective.
Specifically, the Sub-Fund aims to contribute to an environmental objective by investing in securities of companies located worldwide which provide products, services and solutions that reduce environmental and natural resource pressures on our Earth.

##### Investment Policy
The Sub-Fund invests at least 75% of its Net Asset Value in a concentrated portfolio of equity and equity-related securities of companies that contribute to the environmental objective of reducing environmental and natural resource pressures on our Earth, which constitute SFDR Sustainable Investments (as defined below) and
meet the Investment Manager’s binding environmental, social and governance (“ESG”) and sustainability criteria.
All of the Sub-Fund’s investments, other than those intended for specific purposes such as hedging and
liquidity, will meet the definition of SFDR Sustainable Investments.
SFDR Sustainable Investments means those investments which contribute to an environmental objective or that contribute to a social objective, provided that such investments do not significantly harm any of those objectives and that investee companies follow good governance practices.
Investments must meet the Investment Manager’s binding environmental, social and governance (“ESG”) and sustainability criteria. In addition to having a
demonstrable impact on alleviating environmental pressures or providing solutions tied to natural resource usage, which may include making a contribution to one or more of the environmental UN Sustainable Development Goals, examples of which include climate action,
affordable and clean energy, and responsible consumption and production the Investment Manager will also seek to:
- Identify and avoid investing in companies that participate in specific areas of activity that the Investment Manager deems to be harmful from an environmental and/or social perspective. All companies in which investments are made follow good governance practices as set out in the UN Global Compact principles. Companies in breach of the UN Global Compact principles which includes principles relating to human rights, labour, environment, and anti-corruption are excluded; and
- Identify and invest in companies that are proactively seeking to manage environmental and/or social factors well which in turn should support long-term financial returns. This will also include those companies that are contributing to the development of solutions that will contribute towards addressing environmental issues, including more efficient or reduced use of natural resources.

Companies the Sub-Fund invests in are subject to the
above binding elements as part of the Investment Manager’s ESG and sustainability criteria to attain the Sub-Fund’s sustainable investment objective.
The equity and equity-related securities in which the Sub-Fund may invest include common and preference shares, American depositary receipts, global depository receipts, securities convertible into or exchangeable for
such equities (such as convertible preference shares, participatory notes (“P-Notes”) including low exercise price options (“LEPOs”) and low exercise price warrants (“LEPWs”), listed real estate investment trusts (“REITs”) and other closed-ended listed funds including listed
Investment Trusts, warrants (subject to a 10% limit of the
Net Asset Value of the Sub-Fund in the case of warrants), stock purchase rights and related FDI (as listed in “Use of FDI” below), hereinafter “Equity and Equity-Related Securities”.
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in open-ended collective investment
schemes (“CIS”), including exchange traded funds (“ETFs”)
and money market funds. CIS may include another Sub- Fund or Sub-Funds of the Company or other funds advised by the Investment Manager. Any investment in closed-ended CIS constituting transferable securities will be in accordance with the criteria and investment limits for transferable securities, as set out under the heading
“The Company - Investment and Borrowing Restrictions”
in the Prospectus.
The Sub-Fund may hold cash and liquid near cash assets in certain circumstances including where the Investment Manager believes markets are overvalued or where market conditions may require a defensive investment
strategy or as set out below in the section ‘Cash and Collateral Management’.
With the exception of permitted investment in unlisted transferable securities and approved money market
instruments, the Sub-Fund’s investments shall be listed
or traded on Eligible Markets. A list of the Eligible
Markets is set out in Appendix II of the Prospectus.
The Sub-Fund intends to invest globally, however the Sub-Fund may at times be concentrated in particular
industry sectors or geographic regions, including the U.S., depending on where the Investment Manager sees investment opportunities.
The Sub-Fund may invest more than 20% of its Net Asset Value in emerging markets including Russia, China and India. The Sub-Fund may invest up to 10% of its Net Asset Value in Russian securities listed or traded on the Moscow exchange.
Methods of gaining exposure to Chinese securities may include purchasing China H-shares listed or traded on the Hong Kong Stock Exchange, China B-shares listed or traded on the Shanghai Stock Exchange or the Shenzhen Stock Exchange or China A-shares via the Stock Connect. The Sub-Fund may invest up to 20% of its Net Asset Value in China A-shares via the Stock Connect. Further
details about the Stock Connect are set out in Appendix V to the Prospectus.
Whilst the Sub-Fund’s base currency is USD, it may invest in non-USD denominated assets. Such assets will not necessarily be hedged back into USD. In addition, the
Sub-Fund may take active currency positions on
currencies other than USD to express the Investment Manager’s view on currencies in order to help the Sub- Fund increase its capital growth. FDI such as forward
foreign exchange contracts, currency futures or options on currency futures may be used for these purposes.
Therefore, while active currency positions will not form a central part of the Sub-Fund’s investment strategy, the performance of the Sub-Fund may be strongly influenced
by movements in FX rates because currency positions held by the Sub-Fund may not correspond with the securities positions held.

##### Cash and Collateral Management
The Sub-Fund will hold cash and liquid near cash assets in certain circumstances, such as meeting redemptions, facilitating payment of expenses, holding cash on deposit pending reinvestment and to provide liquidity and collateral to support FDI exposure.
Liquid near cash assets may include money market instruments such as U.S. treasury bills, treasury bonds and bank deposits. It is intended that issuers and/or guarantors of any such securities and instruments will have a credit rating at the time of purchase of at least
A1/P1 (or its equivalent) from a Recognised Rating Agency, or will be deemed by the Investment Manager to be of equivalent quality.

##### Benchmark
MSCI AC World NR Index (the “Benchmark”).
The Benchmark is a comprehensive indicator of the performance of the global equity market, capturing large and mid-cap representation across developed and emerging markets countries. With nearly 3,000 constituents, it covers approximately 85% of the global investable equity opportunity set (as of August 2021). The Benchmark implements a comprehensive and consistent approach to index construction that allows for meaningful global views and cross regional comparisons across all market capitalization size, sector and style segments and combinations. This methodology aims to provide exhaustive coverage of the opportunity set with a strong emphasis on index liquidity, investability and replicability. The Benchmark is reviewed quarterly to reflect changes in the underlying equity markets, while limiting undue index turnover.
Further information about the Benchmark is available at www.msci.com/acwi.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest
outside the Benchmark subject to the investment objective and policy. While the Sub-Fund’s holdings may include constituents of the Benchmark, the selection of
investments and their weightings in the portfolio are not influenced by the Benchmark. The investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.
The Benchmark for this Sub-Fund is a broad-based market benchmark that does not take ESG factors into account. The Benchmark is not used to determine whether investments are SFDR Sustainable Investments or to measure how the Sub-Fund will achieve its environmental objectives. Instead, the Investment Manager will seek to measure the extent to which the investee companies that the Sub-Fund invests in have a demonstrable impact on alleviating environmental
pressures or providing solutions tied to natural resource usage in order measure whether the Sub-Fund’s environmental objectives have been attained which
include the UN SDGS where relevant.

##### Investment Strategy
The Sub-Fund is an investment theme driven global portfolio unconstrained by geographic regions. It follows a best ideas investment approach, creating a high conviction portfolio which will at times be concentrated. The Investment Manager believes that no company, market or economy can be considered in isolation; each must be understood in a global context. The Investment Manager believes that events occurring around the world influence all financial markets and therefore successful investment in internationally diversified securities requires a thorough understanding of the world as a whole.
The Investment Manager’s firm level investment process uses a combination of investment themes, fundamental analysis and security valuation. Themes seek to identify
the major areas of structural change in the world. Structural change encompasses multiple changes such as environmental, economic, technological and demographic changes which provide context to investment analysis and decision making, helping the Investment Manager identify areas of potential opportunity and risk both at the asset class and security level. Fundamental analysis and consideration of security valuations by the Investment Manager then helps to determine areas of potential investments for the Sub- Fund. Environmental change is a significant area of structural change for the Sub-Fund.
Security valuation includes detailed analysis based on a wide range of financial metrics and research. This includes consideration of ESG risks, opportunities, and issues. When investing in securities, the portfolio
manager will consider the impact of these investments on the Sub-Fund’s overall construction, such as asset class exposures, the size of each security position and
the investment risk characteristics of the securities themselves. There is no restriction on the size (market capitalisation) of the companies that the Sub-Fund may invest in.
When identifying opportunities and selecting investments
for the Sub-Fund, the Investment Manager will apply certain criteria connected with the Investment Manager’s ‘Earth matters’ theme. The ‘Earth Matters’ theme seeks to identify companies that are proactively contributing to
an overall shift towards an operating model that will help protect the Earth’s environment and natural resources. It is the Investment Manager’s view that increasing levels of economic activity has created significant stress across
the Earth’s environment and natural resources and address issues relating to structural changes related to
the environment.
When determining whether a company meets the Investment Manager’s ESG and sustainability criteria and constitutes an SFDR Sustainable Investment (including
following good governance practices), the Investment Manager considers whether the company: (i) engages in sustainable business practices in an economic sense (
e.g., the company’s strategy, operations and finances are
stable and durable); (ii) takes appropriate measures to
manage any material consequences or impact of its
policies and operations in relation to ESG matters (e.g., the company’s environmental footprint, labour standards, board structure); and (iii) contributes, through its
business operations today, and has credible plans to contribute further over the longer-term (where relevant), to alleviating environmental pressures or providing solutions tied to natural resource usage, which may include making a contribution to one or more of the UN Sustainable Development Goals in a demonstrable way.
These companies may also include those whose business activities are identified as transitioning such that they have a positive impact on the environment and/or society. Involvement in potentially harmful activities from an environmental or social perspective may arise for certain companies whose activities or operations, typically due to a legacy business mix, may have historically created poor environmental or social outcomes but that are now investing and positively adapting to future needs. For example, this may include power generation companies that are building facilities that harness renewable resources in order to support a low carbon economy and have committed to decommission coal-fired power
plants. For the avoidance of doubt, such investments will be SFDR Sustainable Investments at the time of purchase.
Similarly, in some instances, the Sub-Fund may invest in a company where the Investment Manager determines prevailing ESG information and data provided by external ESG rating providers have not fully captured positive environmental or social-related initiatives of the company.
The Investment Manager expects that, through the use of
this criteria, at least 20% of the constituents of the Benchmark will be excluded from the Sub-Fund’s investment universe.
Additionally, at least 90% of the Net Asset Value of the Sub-Fund (net of the Sub-Fund’s exposure to cash and liquid near cash assets, money market funds, and currency-related FDI (the “Non-ESG Assets”)) must meet these criteria at time of purchase and on an ongoing
basis For the avoidance of doubt, the Non-ESG Assets are not required to meet these criteria. No investment will be made in a security that is deemed to have material unresolvable environmental, social, or governance issues.
When determining whether a company meets the Investment Manager’s ESG and sustainability criteria the Investment Manager uses a combination of external and
internal data, research and ratings which are both quantitative and qualitative in nature.
The Investment Manager is dependent upon information and data from third parties (which may include providers for research reports, screenings, ratings and/or analysis such as index providers and consultants). Such information or data may be incomplete, inaccurate or inconsistent.
The Sub-Fund’s investments must continue to meet the Investment Manager’s ESG and sustainability criteria on an ongoing basis after initial purchase and the
Investment Manager will assess the level of sustainability risk that a company may be subject to in the same way as it would be assessed before initial purchase.
The Sub-Fund will invest predominantly invest in Equity and Equity-Related Securities, though it may also invest in cash and liquid near cash assets for the purposes of hedging or liquidity when deemed appropriate by the Investment Manager. Whilst the Sub-Fund has the ability to use FDI, it does not form a central part of the investment strategy. The use of FDI will likely be on an occasional basis, should the Investment Manager deem
FDI provide a more optimal way of achieving the Sub- Fund’s investment objective than direct investments. Any use of FDI for investment purposes will only be permitted
to the extent that this is expected to enable the Investment Manager to attain the Sub-Fund’s environmental objective.

##### The Sustainable Finance Disclosure Regulation
The Sub-Fund integrates sustainability risk into investment decisions and has sustainable investment as its objective for the purposes of Article 9 of the SFDR.
The consideration of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying investments could be materially negatively impacted by
an ESG event or condition (“ESG Event”).
The Investment Manager has access to a variety of ESG- related data points provided by third party data providers which assists with the identification of potential ESG- related issues that an issuer may be facing. This includes but is not limited to exposure to activities that may be
deemed harmful to the environment or society. This data, along with data from the Investment Manager’s own proprietary responsible investment research resources, forms a central part of the Investment Manager’s consideration and assessment of the level of
sustainability risk that an investment may be subject to. This assessment is integrated into the security level research process which is based upon fundamental analysis of individual investment opportunities across a number of different factors including:
- Fundamental financial or economic characteristics
- Valuation
- Risk/reward profile
- The ESG characteristics of the issuer, including understanding how such considerations can impact economic returnsThe information gathered from the fundamental analysis conducted will be taken into account by the Investment Manager in deciding whether to acquire a holding in an issuer or continue to hold a position.

In the event that the sustainability risk associated with a particular investment increases beyond a level that the Investment Manager is comfortable with, taking into consideration the investment objective and strategy of the Sub-Fund, the Investment Manager will consider
selling or reducing the Fund’s exposure to the relevant
investment, taking into account the best interests of the
Shareholders of the Fund.
As explained above, the assessment and management of sustainability risks forms an important part of the Investment Manager's due diligence process, however there may still be a risk that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of
the principal adverse impact consideration regime in Article 4 SFDR, (the “PAI regime”). The Manager is supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
While this Sub-Fund is categorised as Article 9 under SFDR and aims to contribute to environmental objectives, as at the date of this Supplement the investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities notwithstanding that certain investments held by the Sub-Fund may contribute to the environmental objectives of Climate Change Mitigation and/or Climate Change Adaptation. This will be kept under active review and may be reconsidered as and when more sufficient,
reliable, timely and verifiable data on the Sub-Fund’s
investments become available.

#### Registration in Germany
This Sub-Fund is registered for sale in Germany. The Sub- Fund is classified as an Equity Fund for German tax purposes and as such it will permanently invest more than 50% of its assets in equities as defined in article 2 paragraph 8 of the German Investment Tax Act.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Currency Futures Equity Index Futures Equity Futures Index Futures |
| --- | --- |
| Options | Equity Options (single name, index, sector, custom basket) LEPOs and LEPWs Index Options Options on Equity Futures Currency Options Options on Currency Futures |
| Forwards | Forward Foreign Exchange Contracts |
| Securities with Em- bedded FDI/ Leverage | Warrants Exchange Traded Notes (ETNs) Stock Purchase Rights Convertible Preference Shares |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

##### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub-Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |

| Equity indices to provide exposure to regional and global equity markets in a more cost effective or efficient manner than buying the physical securities. | ASX 200 Index Dax 30 Index Euro Stoxx 50 Index FTSE 100 Index FTSE All Share Index |
| --- | --- |
|  | FTSE World Index |
|  | Hang Seng Index |
|  | KOSPI Index |
|  | MSCI AC World NR Index |
|  | MSCI Emerging Markets Index |
|  | Nasdaq Composite Index |
|  | Nikkei 225 Index |
|  | Russell 2000 Index S&P/TSX Composite Index S&P 500 Index Stoxx Europe 600 Index |

These financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where
additional information can be found, will be set out in the Company’s semi-annual and annual accounts.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 100% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, forwards, and warrants. The Sub-Fund may also utilise repurchase/ reverse repurchase agreements for EPM purposes,
subject to the conditions and limits set out in the Central Bank UCITS Regulations. Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI
the Sub-Fund may use for EPM purposes.

#### Securities Lending Arrangements
This Sub-Fund will not utilise securities lending arrangements and, therefore, may forego any additional returns that may be produced through such activities.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. repurchase/
reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of
SFTs shall be 100% of the Net Asset Value of the Sub- Fund. However, it is not anticipated that the Sub-Fund’s exposure to the SFTs will exceed 15% of the Net Asset
Value. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 30 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be issued during their respective Initial Offer Periods at their
respective initial offer price per Share of 1USD, 1€, 1£,
1CHF, 10DKK, 10SEK, 10NOK, or 1SGD depending on the
currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February. Further details are set out under the heading "The Company -
Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.
The fees and expenses relating to the establishment and
organisation of the Sub-Fund including the fees of the Sub-Fund’s professional advisers will be borne by the Sub-Fund. Such fees and expenses are estimated not to exceed €35,000 and will be borne by the Sub-Fund and will be amortised over a period of up to 3 years from the
date of the launch of the Sub-Fund.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Future Food Fund

### SUPPLEMENT 57 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- The Sub-Fund’s Net Asset Value may have a high level of volatility due to its investment policy.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
Newton Investment Management Limited

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its investment management functions with respect to this
Sub-Fund to Newton Investment Management North America LLC (the “Sub-Investment Manager”). Details of the Sub-Investment Management Agreement between the
Investment Manager and the Sub-Investment Manager are set out under the heading “Sub-Investment Managers” in the Prospectus.

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD A (Acc.) | USD | 5,000 | 5% | 1.85% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 1.85% | 0% |
| Euro A (Acc.) | EUR | 5,000 | 5% | 1.85% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 1.85% | 0% |
| CHF A (Acc.) | CHF | 5,000 | 5% | 1.85% | 0% |
| CHF A (Inc.) | CHF | 5,000 | 5% | 1.85% | 0% |
| Euro H (Acc.) (hedged) | EUR | 5,000 | 5% | 1.85% | 0% |
| Euro H (Inc.) (hedged) | EUR | 5,000 | 5% | 1.85% | 0% |
| DKK H (Acc.) (hedged) | DKK | 50,000 | 5% | 1.85% | 0% |
| SEK H (Acc.) (hedged) | SEK | 50,000 | 5% | 1.85% | 0% |
| NOK H (Acc.) (hedged) | NOK | 50,000 | 5% | 1.85% | 0% |

| “B” Shares and “J (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD B (Acc.) | USD | 10,000 | 5% | 1.40% | 0% |
| USD B (Inc.) | USD | 10,000 | 5% | 1.40% | 0% |
| SGD J (Acc.) (hedged) | SGD | 10,000 | 5% | 1.40% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD C (Acc.) | USD | 5,000,000 | 5% | 0.90% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 0.90% | 0% |
| Euro C (Acc.) | EUR | 5,000,000 | 5% | 0.90% | 0% |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 0.90% | 0% |
| Euro I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 0.90% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 0.90% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.70% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.70% | 0% |
| Euro W (Acc.) | EUR | 15,000,000 | 5% | 0.70% | 0% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.70% | 0% |
| CHF W (Acc.) | CHF | 15,000,000 | 5% | 0.70% | 0% |
| CHF W (Inc.) | CHF | 15,000,000 | 5% | 0.70% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.70% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.70% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.70% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.70% | 0% |
| SGD W (Acc.) (hedged) | SGD | 15,000,000 | 5% | 0.70% | 0% |

| “E” Shares and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD E (Acc.) | USD | As agreed | 5% | 0.40% | 0% |
| USD E (Inc.) | USD | As agreed | 5% | 0.40% | 0% |
| Euro E (Acc.) | EUR | As agreed | 5% | 0.40% | 0% |
| Euro E (Inc.) | EUR | As agreed | 5% | 0.40% | 0% |
| CHF E (Acc.) | CHF | As agreed | 5% | 0.40% | 0% |
| CHF E (Inc.) | CHF | As agreed | 5% | 0.40% | 0% |
| Euro E (Acc.) (hedged) | EUR | As agreed | 5% | 0.40% | 0% |
| Euro E (Inc.) (hedged) | EUR | As agreed | 5% | 0.40% | 0% |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.40% | 0% |
| Sterling E (Inc.) (hedged) | GBP | As agreed | 5% | 0.40% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Acc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) (hedged) | EUR | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to achieve long-term capital growth by predominantly gaining exposure to companies located worldwide that are positioned to benefit from the investment opportunities associated with the demand for new food and agriculture technological innovations across the global food supply chain.

##### Investment Policy
The Sub-Fund invests predominantly (meaning at least 75% of its Net Asset Value) in equity and equity-related securities including common and preference shares, American depositary receipts, global depository receipts, securities convertible into or exchangeable for such equities (such as convertible preference shares,
participatory notes (“P-Notes”) including low exercise price options (“LEPOs”) and low exercise price warrants (“LEPWs”), listed real estate investment trusts (“REITs”) and other closed-ended listed funds including listed
Investment Trusts, warrants subject to a 10% limit of the
Net Asset Value of the Sub-Fund in the case of warrants), stock purchase rights and related FDI (as listed in “Use of FDI” below), hereinafter “Equity and Equity-Related Securities”.
The Sub-Fund may also invest up to 25% of its Net Asset
Value in fixed or floating rate government bonds, zero- coupon bonds, exchange traded notes (“ETNs”) and related FDI (as listed in “Use of FDI” below), hereinafter “Debt and Debt-Related Securities”.
The Debt and Debt-Related Securities will be investment grade (i.e. instruments rated BBB- or above (or equivalent) as rated by a Recognised Rating Agency at time of purchase. In the case of a split rating, the highest rating will be considered. If an instrument is unrated, it must be of equivalent quality as determined by the Investment Manager.
The Sub-Fund may invest up to 10% of its Net Asset
Value in aggregate in open-ended collective investment schemes (“CIS”), including exchange traded funds (“ETFs”) and money market funds. CIS may include another Sub-
Fund or Sub-Funds of the Company or other funds advised by the Investment Manager. Any investment in closed-ended CIS constituting transferable securities will be in accordance with the criteria and investment limits for transferable securities, as set out under the heading
“The Company - Investment and Borrowing Restrictions”
in the Prospectus.
The Sub-Fund may hold cash and liquid near cash assets in certain circumstances including where the Investment Manager believes markets are overvalued or where
market conditions may require a defensive investment strategy or as set out below in the section ‘Cash and Collateral Management’.
With the exception of permitted investment in unlisted transferable securities and approved money market
instruments, the Sub-Fund’s investments shall be listed
or traded on Eligible Markets. A list of the Eligible
Markets is set out in Appendix II of the Prospectus.
The Sub-Fund intends to invest globally, however the Sub-Fund may at times be concentrated in particular
industry sectors or geographic regions, including the U.S., depending on where the Investment Manager sees investment opportunity.
The Sub-Fund may invest more than 20% of its Net Asset Value in emerging markets including Russia, China and India. The Sub-Fund may invest up to 10% of its Net Asset Value in Russian securities listed or traded on the Moscow exchange.
The Sub-Fund may invest in and have direct access to China A-shares listed on the Shanghai Stock Exchange via the Shanghai-Hong Kong Stock Connect scheme (as
further described in “Stock Connect” Appendix V to the
Prospectus). Exposure to China A-shares through the
Shanghai-Hong Kong Stock Connect scheme will not be more than 10% of the Sub-Fund’s Net Asset Value.
Whilst the Sub-Funds base currency is USD, it may invest in non-USD denominated assets. Such assets will not necessarily be hedged back into USD. In addition, the Sub-Fund may take active currency positions on
currencies other than USD to express the Investment Manager’s view on currencies in order to help the Sub- Fund increase its capital growth. FDI such as forward
foreign exchange contracts, currency futures or options on currency futures may be used for these purposes.
Therefore, while active currency positions will not form a central part of the Sub-Fund’s investment strategy, the performance of the Sub-Fund may be strongly influenced
by movements in FX rates because currency positions held by the Sub-Fund may not correspond with the securities positions held and not all assets may be hedged back to the base currency.

##### Cash and Collateral Management
The Sub-Fund will hold cash and liquid near cash assets in certain circumstances, such as meeting redemptions, facilitating payment of expenses, holding cash on deposit pending reinvestment and to provide liquidity and collateral to support FDI exposure.
Liquid near cash assets may include money market instruments such as U.S. treasury bills, treasury bonds and bank deposits. It is intended that issuers and/or guarantors of any such securities and instruments will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a Recognised Rating Agency, or will be deemed by the Investment Manager to be of equivalent quality.

##### Benchmark
MSCI AC World NR Index (the “Benchmark”).
The Benchmark is a comprehensive indicator of the performance of the global equity market, capturing large and mid-cap representation across developed and emerging markets countries. With over 2,000 constituents, it covers approximately 85% of the global investable equity opportunity set. The Benchmark implements a comprehensive and consistent approach to index construction that allows for meaningful global views and cross regional comparisons across all market capitalization size, sector and style segments and combinations. This methodology aims to provide exhaustive coverage of the opportunity set with a strong emphasis on index liquidity, investability and replicability. The Benchmark is reviewed quarterly to reflect changes in the underlying equity markets, while limiting undue index turnover.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest
outside the Benchmark subject to the investment objective and policy. While the Sub-Fund’s holdings may include constituents of the Benchmark, the selection of
investments and their weightings in the portfolio are not influenced by the Benchmark. The investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.

##### Investment Strategy
The Investment Manager’s firm level investment process uses a combination of investment themes, fundamental analysis and security valuation. Themes seek to identify
the major areas of structural change in the world. Structural change encompasses multiple changes such as environmental, economic, technological and demographic changes which provide context to investment analysis and decision making, helping the Investment Manager identify areas of potential opportunity and risk both at the asset class and security level. For this Sub-Fund, significant areas of structural change are technological and global demographic changes. Fundamental analysis and consideration of
security valuations by the Investment Manager then helps to determine a list of potential investments for the Sub- Fund. Security valuation includes detailed analysis based on a wide range of financial metrics and research. This includes consideration of environmental, social and governance (ESG) risks, opportunities and issues. For example, a company that has a poor governance record
or demonstrates ill treatment of employees could have additional litigation risk. This may have the potential to materially impact the credibility and share price of the company and may be excluded from the portfolio on
those grounds at the Investment Manager’s discretion.
There are however no specific ESG restrictions on the Investment Manager’s decision-making, which is consistent with the Sub-Fund’s objective. When investing in securities, the portfolio manager will consider the impact of these investments on the Sub-Fund’s overall
construction, such as asset class exposures, the size of
each security position and the investment risk characteristics of the securities themselves.
This Sub-Fund’s investment strategy follows a best ideas investment approach, creating a high conviction portfolio which may at times be concentrated. It aims to provide
shareholders with investment returns by gaining exposure to companies located worldwide that will benefit from
the investment opportunities associated with the demand for new food and agriculture technological innovations across the global food supply chain.
The Investment Manager considers a number of underlying investment themes such as growing populations, changing consumer demand and well known
threats to our natural world that will, in the Investment Manager’s view, drive unprecedented demand for new food and agriculture technological innovations across the
global food supply chain for years to come. The Sub-Fund seeks to benefit from the long-term opportunities arising across the food and agriculture related industries. The Investment Manager seeks to identify public companies ( i.e., exchange listed) at the forefront of global agriculture and food innovation, services and technological disruption for betterment of farming and food systems.
Winning companies could be ingredient companies with robust research and development budgets that will allow food producers to create smart or alternative food products that meet emerging consumer demand, or, companies that reduce the carbon footprint by producing plant based meat alternatives. Losing companies could be food distribution firms whose operating models are set to become outdated and unable to keep up with increased logistical demands, such as keeping food fresh or the increasingly diverse international distribution requirements.
The Sub-Fund will invest predominantly invest in Equity and Equity-Related Securities, though may also invest in Debt and Debt-Related Securities, typically as an alternative to holding cash, when deemed appropriate by the Investment Manager. Whilst the Sub-Fund has the ability to use FDI, including taking both long and synthetic short positions, FDI do not form a central part of the investment strategy. The use of FDI will likely be on an occasional basis, should the Investment Manager deem that FDI provide a more optimal way of achieving
the Sub-Fund’s investment objective. An example of a
synthetic short strategy would be the purchase of a put
option or entering into a short futures contract on a single equity or equity sector index that was identified as
a losing company/sector in the context of the Sub-Fund’s
investment objective and strategy. An example of the long
strategy would be the purchase of a call option or entering into a long futures contract on an equity or equity sector index that was identified as a winning company/sector.
The Sub-Fund has no restrictions relating to market capitalization (the total value of all a company's shares) and as such may have greater exposure to small capitalization companies than the Benchmark. In addition, the Sub-Fund is considerably more concentrated than the Benchmark as it has exposure to significantly less companies.
The Sub-Fund is an investment theme driven global portfolio unconstrained by geographic regions. The Investment Manager believes that no company, market or economy can be considered in isolation; each must be understood in a global context. The Investment Manager believes that events occurring around the world influence all financial markets and therefore successful investment in internationally diversified securities requires a thorough understanding of the world as a whole.

##### The Sustainable Finance Disclosure Regulation
The consideration of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying
investments could be materially negatively impacted by an ESG event or condition (“ESG Event”).
The Investment Manager has access to a variety of ESG- related data points provided by third party data which assists with the identification of potential ESG-related issues that an issuer may be facing. This includes but is not limited to exposure to activities that may be deemed
harmful to the environment or society. This data, along with data from the Investment Manager’s own proprietary responsible investment research resources, forms a central part of the Investment Manager’s consideration and assessment of the level of sustainability risk that an
investment may be subject to.
This assessment is integrated in to the security level research process, which is based upon fundamental analysis of individual investment opportunities across a number of different factors including:
- Fundamental financial or economic characteristics
- Valuation
- Risk/reward profile
- The ESG characteristics of the issuer, including understanding how such considerations can impact economic returnsThe information gathered from the fundamental analysis conducted will be taken into account by the Investment Manager in deciding whether to acquire a holding in an issuer or continue to hold a position.

As explained above, the assessment and management of sustainability risks forms an important part of the
Investment Manager’s due diligence process, however,
there may still be a risk that the value of the Sub-Fund
could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of
the principal adverse impact consideration regime in Article 4 SFDR, (the “PAI regime”). The Manager is supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on
sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Registration in Germany
This Sub-Fund is registered for sale in Germany. The Sub- Fund is classified as an Equity Fund for German tax purposes and as such it will permanently invest more than 50% of its assets in equities as defined in article 2 paragraph 8 of the German Investment Tax Act.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Currency Futures Equity Index Futures Equity Futures Index Futures |
| --- | --- |
| Options | Equity Options (single name, index, sector, custom basket) LEPOs and LEPWs Index Options Options on Equity Futures Currency Options Options on Currency Futures |
| Forwards | Forward Foreign Exchange Contracts |
| Securities with Em- bedded FDI/ Leverage | Warrants Exchange Traded Notes (ETNs) Stock Purchase Rights Convertible Preference Shares |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub-Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Equity indices to provide | ASX 200 Index |
| exposure to regional and global | Dax 30 Index |
| equity markets in a more cost | Euro Stoxx 50 Index |
| effective or efficient manner | FTSE 100 Index |
| than buying the physical | FTSE All Share Index |
| securities. | FTSE World Index |
|  | Hang Seng Index |
|  | KOSPI Index |
|  | MSCI AC World NR Index |
|  | MSCI Emerging Markets Index |
|  | Nasdaq Composite Index |
|  | Nikkei 225 Index |
|  | Russell 2000 Index |
|  | S&P/TSX Composite Index |
|  | S&P 500 Index |
|  | Stoxx Europe 600 Index |

These financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where
additional information can be found, will be set out in the Company’s semi-annual and annual accounts.

##### Long and Short Positions
The Sub-Fund may employ synthetic long and synthetic short exposures in each of the asset classes referenced in the Investment Policy to achieve its investment objective. The total net long exposure (after taking account of hedging) through FDI is not expected to exceed 100% of the Net Asset Value of the Sub-Fund and the total net short exposure is not expected to exceed 100% of the Net Asset Value of the Sub-Fund (using the commitment approach).

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 100% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. securities lending arrangements and repurchase/reverse repurchase
agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of SFTs shall be 100% of the Net Asset Value of the Sub-
Fund. However, it is not anticipated that the Sub-Fund’s
exposure to the SFTs will exceed 15% of the Net Asset
Value. The types of assets that will be subject SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1€, 1£, 1CHF, 10DKK, 10SEK, 10NOK, or 1SGD depending on the
currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February. Further details
are set out under the heading "The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.
The fees and expenses relating to the establishment and organisation of the Sub-Fund including the fees of the
Sub-Fund’s professional advisers will be borne by the
Sub-Fund. Such fees and expenses are estimated not to exceed €30,000 and will be borne by the Sub-Fund and will be amortised over a period of up to 3 years from the
date of the launch of the Sub-Fund.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Future Life Fund

### SUPPLEMENT 58 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- The Sub-Fund’s Net Asset Value may have a high level of volatility due to its investment policy.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
Newton Investment Management Limited

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its investment management functions with respect to this
Sub-Fund to Newton Investment Management North America LLC (the “Sub-Investment Manager”). Details of the Sub-Investment Management Agreement between the
Investment Manager and the Sub-Investment Manager are set out under the heading “Sub-Investment Managers” in the Prospectus.

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD A (Acc.) | USD | 5,000 | 5% | 1.85% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 1.85% | 0% |
| Euro A (Acc.) | EUR | 5,000 | 5% | 1.85% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 1.85% | 0% |
| CHF A (Acc.) | CHF | 5,000 | 5% | 1.85% | 0% |
| CHF A (Inc.) | CHF | 5,000 | 5% | 1.85% | 0% |
| Euro H (Acc.) (hedged) | EUR | 5,000 | 5% | 1.85% | 0% |
| Euro H (Inc.) (hedged) | EUR | 5,000 | 5% | 1.85% | 0% |
| DKK H (Acc.) (hedged) | DKK | 50,000 | 5% | 1.85% | 0% |
| SEK H (Acc.) (hedged) | SEK | 50,000 | 5% | 1.85% | 0% |
| NOK H (Acc.) (hedged) | NOK | 50,000 | 5% | 1.85% | 0% |

| “B” Shares and “J (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD B (Acc.) | USD | 10,000 | 5% | 1.40% | 0% |
| USD B (Inc.) | USD | 10,000 | 5% | 1.40% | 0% |
| SGD J (Acc.) (hedged) | SGD | 10,000 | 5% | 1.40% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD C (Acc.) | USD | 5,000,000 | 5% | 0.90% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 0.90% | 0% |
| Euro C (Acc.) | EUR | 5,000,000 | 5% | 0.90% | 0% |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 0.90% | 0% |
| Euro I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 0.90% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 0.90% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.70% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.70% | 0% |
| Euro W (Acc.) | EUR | 15,000,000 | 5% | 0.70% | 0% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.70% | 0% |
| CHF W (Acc.) | CHF | 15,000,000 | 5% | 0.70% | 0% |
| CHF W (Inc.) | CHF | 15,000,000 | 5% | 0.70% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.70% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.70% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.70% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.70% | 0% |
| SGD W (Acc.) (hedged) | SGD | 15,000,000 | 5% | 0.70% | 0% |

| “E” Shares and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD E (Acc.) | USD | As agreed | 5% | 0.40% | 0% |
| USD E (Inc.) | USD | As agreed | 5% | 0.40% | 0% |
| Euro E (Acc.) | EUR | As agreed | 5% | 0.40% | 0% |
| Euro E (Inc.) | EUR | As agreed | 5% | 0.40% | 0% |
| CHF E (Acc.) | CHF | As agreed | 5% | 0.40% | 0% |
| CHF E (Inc.) | CHF | As agreed | 5% | 0.40% | 0% |
| Euro E (Acc.) (hedged) | EUR | As agreed | 5% | 0.40% | 0% |
| Euro E (Inc.) (hedged) | EUR | As agreed | 5% | 0.40% | 0% |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.40% | 0% |
| Sterling E (Inc.) (hedged) | GBP | As agreed | 5% | 0.40% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Acc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) (hedged) | EUR | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to achieve long-term capital growth by predominantly gaining exposure to companies located worldwide that are expected to benefit from the investment opportunities associated with the ageing of the global population and the changes this will drive in consumer demand for products and services.

##### Investment Policy
The Sub-Fund invests predominantly (meaning at least 75% of its Net Asset Value) in equity and equity-related securities including common and preference shares, American depositary receipts, global depository receipts, securities convertible into or exchangeable for such
equities (such as convertible preference shares, participatory notes (“P-Notes”) including low exercise price options (“LEPOs”) and low exercise price warrants (“LEPWs”), listed real estate investment trusts (“REITs”) and other closed-ended listed funds including listed
Investment Trusts, warrants (subject to a 10% limit of the
Net Asset Value of the Sub-Fund in the case of warrants), stock purchase rights and related FDI (as listed in “Use of FDI” below), hereinafter “Equity and Equity-Related Securities”.
The Sub-Fund may also invest up to 25% of its Net Asset
Value in fixed or floating rate government bonds, zero- coupon bonds, exchange traded notes (“ETNs”) and related FDI (as listed in “Use of FDI” below), hereinafter “Debt and Debt-Related Securities”.
The Debt and Debt-Related Securities will be investment grade (i.e. instruments rated BBB- or above (or equivalent) as rated by a Recognised Rating Agency at time of purchase. In the case of a split rating, the highest rating will be considered. If an instrument is unrated, it must be of equivalent quality as determined by the Investment Manager.
The Sub-Fund may invest up to 10% of its Net Asset
Value in aggregate in open-ended collective investment schemes (“CIS”), including exchange traded funds (“ETFs”) and money market funds. CIS may include another Sub-
Fund or Sub-Funds of the Company or other funds advised by the Investment Manager. Any investment in closed-ended CIS constituting transferable securities will be in accordance with the criteria and investment limits for transferable securities, as set out under the heading
“The Company - Investment and Borrowing Restrictions”
in the Prospectus.
The Sub-Fund may hold cash and liquid near cash assets in certain circumstances including where the Investment Manager believes markets are overvalued or where
market conditions may require a defensive investment strategy or as set out below in the section ‘Cash and Collateral Management’.
With the exception of permitted investment in unlisted transferable securities and approved money market
instruments, the Sub-Fund’s investments shall be listed
or traded on Eligible Markets. A list of the Eligible
Markets is set out in Appendix II of the Prospectus.
The Sub-Fund intends to invest globally, however the Sub-Fund may at times be concentrated in particular
industry sectors or geographic regions, including the U.S., depending on where the Investment Manager sees investment opportunity.
The Sub-Fund may invest more than 20% of its Net Asset Value in emerging markets including Russia, China and India. The Sub-Fund may invest up to 10% of its Net Asset Value in Russian securities listed or traded on the Moscow exchange.
The Sub-Fund may invest in and have direct access to China A-shares listed on the Shanghai Stock Exchange
via the Shanghai-Hong Kong Stock Connect scheme (as further described in “Stock Connect” Appendix V to the Prospectus). Exposure to China A-shares through the
Shanghai-Hong Kong Stock Connect scheme will not be more than 10% of the Sub-Fund’s Net Asset Value.
Whilst the Sub-Funds base currency is USD, it may invest in non-USD denominated assets. Such assets will not necessarily be hedged back into USD. In addition, the Sub-Fund may take active currency positions on currencies other than USD to express the Investment
Manager’s view on currencies in order to help the Sub-
Fund increase its capital growth. FDI such as forward
foreign exchange contracts, currency futures or options on currency futures may be used for these purposes.
Therefore, while active currency positions will not form a central part of the Sub-Fund’s investment strategy, the performance of the Sub-Fund may be strongly influenced
by movements in FX rates because currency positions held by the Sub-Fund may not correspond with the securities positions held and not all assets may be hedged back to the base currency.

##### Cash and Collateral Management
The Sub-Fund will hold cash and liquid near cash assets in certain circumstances, such as meeting redemptions, facilitating payment of expenses, holding cash on deposit pending reinvestment and to provide liquidity and collateral to support FDI exposure.
Liquid near cash assets may include money market instruments such as U.S. treasury bills, treasury bonds and bank deposits. It is intended that issuers and/or guarantors of any such securities and instruments will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a Recognised Rating Agency, or will be deemed by the Investment Manager to be of equivalent quality.

##### Benchmark
MSCI AC World NR Index (the “Benchmark”).
The Benchmark is a comprehensive indicator of the performance of the global equity market, capturing large and mid-cap representation across developed and emerging markets countries. With over 2,000 constituents, it covers approximately 85% of the global investable equity opportunity set. The Benchmark implements a comprehensive and consistent approach to index construction that allows for meaningful global views and cross regional comparisons across all market capitalization size, sector and style segments and combinations. This methodology aims to provide exhaustive coverage of the opportunity set with a strong emphasis on index liquidity, investability and replicability. The Benchmark is reviewed quarterly to reflect changes in the underlying equity markets, while limiting undue index turnover.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest
outside the Benchmark subject to the investment objective and policy. While the Sub-Fund’s holdings may include constituents of the Benchmark, the selection of
investments and their weightings in the portfolio are not influenced by the Benchmark. The investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.

##### Investment Strategy
The Investment Manager’s firm level investment process uses a combination of investment themes, fundamental analysis and security valuation (by which we mean the
process of determining a security’s value relative to a
market index). Themes seek to identify the major areas of
structural change in the world. Structural change encompasses multiple changes such as environmental, economic, technological and demographic changes which provide context to investment analysis and decision making, helping the Investment Manager identify areas of potential opportunity and risk both at the asset class and security level. For this Sub-Fund, a significant area of structural change is global demographic change.
Fundamental analysis and consideration of security valuations by the Investment Manager then helps to determine a list of potential investments for the Sub- Fund. Security valuation includes detailed analysis based on a wide range of financial metrics and research.
This includes consideration of environmental, social and governance (ESG) risks, opportunities and issues. For example, a company that has a poor governance record or demonstrates ill treatment of employees could have additional litigation risk. This may have the potential to materially impact the credibility and share price of the
company and may be excluded from the portfolio on those grounds at the Investment Manager’s discretion.
There are however no specific ESG restrictions on the Investment Manager’s decision-making, which is consistent with the Sub-Fund’s objective. When investing in securities, the portfolio manager will consider the
impact of these investments on the Sub-Fund’s overall construction, such as asset class exposures, the size of
each security position and the investment risk characteristics of the securities themselves.
This Sub-Fund’s investment strategy follows a best ideas investment approach, creating a high conviction portfolio
which may at times be concentrated. It aims to provide shareholders with investment returns by investing in companies that are expected to benefit from the investment opportunities associated with the ageing of the global population and the changes this will drive in consumer demand.
The Investment Manager will evaluate the opportunities presented by this changing demand and explore the risks and opportunities this presents to investors using its investment process as described above. The Investment Manager foresees businesses offering innovative solutions in areas such as healthcare, leisure, financial services, housing and travel and believes that public (i.e. exchange listed) companies operating within, or linked to, these industries will present significant investment opportunities in the years ahead. Winning companies could include those that develop personalised or affordable health care or financial planning solutions or consumer products demanded by ageing populations.
Examples of such products could include Smartphone Apps and peripheral devices that keep track of a person’s health data or administration of medication.
Losing companies could include established companies who do not adapt their business models to cater for the needs of an older population, such as traditional retailers or consumer companies with products or services not positioned for changing demand profiles in areas such as nutrition, wellness and leisure.
The Sub-Fund will invest predominantly invest in Equity and Equity-Related Securities, though may also invest in Debt and Debt-Related Securities, typically as an alternative to holding cash, when deemed appropriate by the Investment Manager. Whilst the Sub-Fund has the ability to use FDI, including taking both long and synthetic short positions, FDI do not form a central part of the investment strategy. The use of FDI will likely be on an occasional basis, should the Investment Manager
deem that FDI provide a more optimal way of achieving the Sub-Fund’s investment objective. An example of a synthetic short strategy would be the purchase of a put
option or entering into a short futures contract on a single equity or equity sector index that was identified as
a losing company/sector in the context of the Sub-Fund’s
investment objective and strategy. An example of the long
strategy would be the purchase of a call option or entering into a long futures contract on an equity or equity sector index that was identified as a winning company/sector.
The Sub-Fund has no restrictions relating to market capitalization (the total value of all a company's shares) and as such may have greater exposure to small capitalization companies than the Benchmark. In addition, the Sub-Fund is considerably more concentrated than the Benchmark as it has exposure to significantly less companies.
The Sub-Fund is an investment theme driven global portfolio unconstrained by geographic regions. The Investment Manager believes that no company, market or economy can be considered in isolation; each must be understood in a global context. The Investment Manager believes that events occurring around the world influence all financial markets and therefore successful investment in internationally diversified securities requires a thorough understanding of the world as a whole.

##### The Sustainable Finance Disclosure Regulation
The consideration of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying
investments could be materially negatively impacted by an ESG event or condition (“ESG Event”).
The Investment Manager has access to a variety of ESG- related data points provided by third party data which assists with the identification of potential ESG-related issues that an issuer may be facing. This includes but is not limited to exposure to activities that may be deemed
harmful to the environment or society. This data, along with data from the Investment Manager’s own proprietary responsible investment research resources, forms a central part of the Investment Manager’s consideration and assessment of the level of sustainability risk that an
investment may be subject to.
This assessment is integrated in to the security level research process, which is based upon fundamental analysis of individual investment opportunities across a number of different factors including:
- Fundamental financial or economic characteristics
- Valuation
- Risk/reward profile
- The ESG characteristics of the issuer, including understanding how such considerations can impact economic returnsThe information gathered from the fundamental analysis conducted will be taken into account by the Investment Manager in deciding whether to acquire a holding in an issuer or continue to hold a position.

As explained above, the assessment and management of
sustainability risks forms an important part of the Investment Manager’s due diligence process, however, there may still be a risk that the value of the Sub-Fund
could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that
would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Registration in Germany
This Sub-Fund is registered for sale in Germany. The Sub- Fund is classified as an Equity Fund for German tax purposes and as such it will permanently invest more than 50% of its assets in equities as defined in article 2 paragraph 8 of the German Investment Tax Act.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Currency Futures Equity Index Futures Equity Futures Index Futures |
| --- | --- |
| Options | Equity Options (single name, index, sector, custom basket) LEPOs and LEPWs Index Options Options on Equity Futures Currency Options Options on Currency Futures |
| Forwards | Forward Foreign Exchange Contracts |
| Securities with Em- bedded FDI/ Leverage | Warrants Exchange Traded Notes (ETNs) Stock Purchase Rights Convertible Preference Shares |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial
purpose, are described in the Prospectus in the section entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub-Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Equity indices to provide | ASX 200 Index |
| exposure to regional and global | Dax 30 Index |
| equity markets in a more cost | Euro Stoxx 50 Index |
| effective or efficient manner | FTSE 100 Index |
| than buying the physical | FTSE All Share Index |
| securities. | FTSE World Index |
|  | Hang Seng Index |
|  | KOSPI Index |
|  | MSCI AC World NR Index |
|  | MSCI Emerging Markets Index |
|  | Nasdaq Composite Index |
|  | Nikkei 225 Index |
|  | Russell 2000 Index |
|  | S&P/TSX Composite Index |
|  | S&P 500 Index |
|  | Stoxx Europe 600 Index |

These financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where
additional information can be found, will be set out in the Company’s semi-annual and annual accounts.

##### Long and Short Positions
The Sub-Fund may employ synthetic long and synthetic short exposures in each of the asset classes referenced in the Investment Policy to achieve its investment objective. The total net long exposure (after taking account of hedging) through FDI is not expected to exceed 100% of the Net Asset Value of the Sub-Fund and the total net short exposure is not expected to exceed 100% of the Net Asset Value of the Sub-Fund (using the commitment approach).

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 100% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, forwards, and warrants. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. securities lending arrangements and repurchase/reverse repurchase
agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of
SFTs shall be 100% of the Net Asset Value of the Sub- Fund. However, it is not anticipated that the Sub-Fund’s exposure to the SFTs will exceed 15% of the Net Asset
Value.
The types of assets that will be subject SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”,
“Appendix III - Management of Collateral”, “Appendix III -
Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 3 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1€, 1£, 1CHF, 10DKK, 10SEK, 10NOK, or 1SGD depending on the
currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February. Further details are set out under the heading "The Company -
Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.
The fees and expenses relating to the establishment and
organisation of the Sub-Fund including the fees of the Sub-Fund’s professional advisers will be borne by the Sub-Fund. Such fees and expenses are estimated not to exceed €30,000 and will be borne by the Sub-Fund and will be amortised over a period of up to 3 years from the
date of the launch of the Sub-Fund.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Smart Cures Innovation Fund

### SUPPLEMENT 59 DATED 31 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- The Sub-Fund’s Net Asset Value may have a high level of volatility due to its investment policy.

In addition to the Sub-Funds listed in the Prospectus, the following Sub-Fund has been established as of the date of this Supplement:
- BNY Mellon Sustainable Global Emerging Markets Fund (see Supplement 62 for details).


#### The Investment Manager
Newton Investment Management North America LLC

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its investment management functions with respect to this Sub-Fund to Newton Investment Management Limited
(the “Sub-Investment Manager”). Details of the Sub-
Investment Management Agreement between the
Investment Manager and the Sub-Investment Manager are set out under the heading “Sub-Investment Managers” in the Prospectus.

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD A (Acc.) | USD | 5,000 | 5% | 1.85% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 1.85% | 0% |
| CHF A (Acc.) | CHF | 5,000 | 5% | 1.85% | 0% |
| Euro H (Acc.) (hedged) | EUR | 5,000 | 5% | 1.85% | 0% |

| “B” Shares and “J (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD B (Acc.) | USD | 10,000 | 5% | 1.40% | 0% |
| USD B (Inc.) | USD | 10,000 | 5% | 1.40% | 0% |
| SGD B (Acc.) | SGD | 10,000 | 5% | 1.40% | 0% |
| HKD B (Acc.) | HKD | 100,000 | 5% | 1.40% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| SGD J (Acc.) (hedged) | SGD | 10,000 | 5% | 1.40% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD C (Acc.) | USD | 5,000,000 | 5% | 0.90% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 0.90% | 0% |
| Euro I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 0.90% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.70% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.70% | 0% |
| CHF W (Acc.) | CHF | 15,000,000 | 5% | 0.70% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.70% | 0% |

| “E” Shares and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD E (Acc.) | USD | As agreed | 5% | 0.40% | 0% |
| USD E (Inc.) | USD | As agreed | 5% | 0.40% | 0% |
| Euro E (Acc.) | EUR | As agreed | 5% | 0.40% | 0% |
| Sterling E (Acc.) | GBP | As agreed | 5% | 0.40% | 0% |
| CHF E (Acc.) | CHF | As agreed | 5% | 0.40% | 0% |
| Euro E (Acc.) (hedged) | EUR | As agreed | 5% | 0.40% | 0% |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.40% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to achieve long-term capital growth and has a sustainable investment objective.
Specifically, the Sub-Fund aims to contribute to a social objective by investing in securities of companies located worldwide that improve the adequacy and efficiency of health systems through innovation in biotechnology and healthcare.

##### Investment Policy
The Sub-Fund invests at least 80% of its Net Asset Value in a portfolio of equity and equity-related securities of companies that contribute to social objectives by improving the adequacy and efficiency of health systems
through innovation in biotechnology and healthcare (“Smart Cures Innovation Companies”), which constitute SFDR Sustainable Investments (as defined below) and meet the Investment Manager’s binding environmental,
social and governance (“ESG”) and sustainability criteria.
Smart Cures Innovation Companies develop medical treatments for diseases, or play a supporting role, by targeting the underpinning genetics that drive those diseases.
All of the Sub-Fund’s investments, other than those intended for specific purposes such as hedging and
liquidity, will meet the definition of SFDR Sustainable Investments.
SFDR Sustainable Investments means those investments which contribute to an environmental objective or that contribute to a social objective, provided that such investments do not significantly harm any of those objectives and that investee companies follow good governance practices.
Investments must meet the Investment Manager’s binding environmental, social and governance (“ESG”) and sustainability criteria. In addition to contributing to social
objectives, by identifying and investing in companies expected to have a demonstrable impact on improving the adequacy and efficiency of health systems, the Investment Manager will also seek to:
- Identify and avoid investing in companies that participate in specific areas of activity that the Investment Manager deems to be harmful from an environmental and/or social perspective. All companies in which investments are made follow good governance practices as set out in the UN Global Compact principles. Companies in breach of the UN Global Compact principles which includes principles relating to human rights, labour, environment, and anti-corruption are excluded; and
- Identify and invest in companies that are proactively seeking to manage environmental and/or social factors well, which in turn should support long-term financial returns. This will also include those companies that are contributing to the development of solutions that will contribute towards addressing environmental and/or social issues including more efficient or reduced use of resources or accessibility to healthcare.

Companies the Sub-Fund invests in are subject to the above binding elements as part of the Investment
Manager’s ESG and sustainability criteria to attain the Sub-Fund’s sustainable investment objective.
The equity and equity-related securities in which the Sub-Fund may invest include common and preference shares, American depositary receipts, global depository receipts, securities convertible into or exchangeable for
such equities (such as convertible preference shares, participatory notes (“P-Notes”) including low exercise price options (“LEPOs”) and low exercise price warrants (“LEPWs”), listed real estate investment trusts (“REITs”), Real Estate Operating Companies (REOCs) and other
closed-ended listed funds including listed Investment Trusts, warrants (subject to a 10% limit of the Net Asset
Value of the Sub-Fund in the case of warrants), stock purchase rights and related FDI, hereinafter “Equity and Equity-Related Securities”.
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in open-ended collective investment
schemes (“CIS”), including exchange-traded funds (“ETFs”)
and money market funds. CIS may include another Sub-
Fund or Sub-Funds of the Company or other funds advised by the Investment Manager. Any investment in closed-ended CIS constituting transferable securities will be in accordance with the criteria and investment limits for transferable securities, as set out under the heading
“The Company - Investment and Borrowing Restrictions”
in the Prospectus.
The Sub-Fund may hold cash and liquid near cash assets in certain circumstances including where the Investment Manager believes markets are overvalued or where market conditions may require a defensive investment
strategy or as set out below in the section ‘Cash and Collateral Management’.
With the exception of permitted investment in unlisted
transferable securities and approved money market instruments, the Sub-Fund’s investments shall be listed or traded on Eligible Markets. A list of the Eligible
Markets is set out in Appendix II of the Prospectus.
The Sub-Fund intends to invest globally, however the Sub-Fund may at times be concentrated in particular
industry sectors or geographic regions, including the U.S., depending on where the Investment Manager sees investment opportunities.
The Sub-Fund may invest up to 20% of its Net Asset Value in emerging markets including, but not limited to, China and India.
Methods of gaining exposure to Chinese securities may include purchasing China H-shares listed or traded on the Hong Kong Stock Exchange, China B-shares listed or traded on the Shanghai Stock Exchange or the Shenzhen Stock Exchange or China A-shares via the Stock Connect and through Depositary Receipts. The Sub-Fund may invest up to 20% of its Net Asset Value in China A-shares via the Stock Connect. Further details about the Stock Connect are set out in Appendix V to the Prospectus. The Sub-Fund may gain exposure to India directly or through Depositary Receipts.
Whilst the Sub-Fund’s base currency is USD, it may invest in non-USD denominated assets. Such assets will not necessarily be hedged back into USD. Therefore, the
performance of the Sub-Fund may be strongly influenced by movements in FX rates.

##### Cash and Collateral Management
The Sub-Fund will hold cash and liquid near cash assets in certain circumstances, such as meeting redemptions, facilitating payment of expenses, holding cash on deposit pending reinvestment and to provide liquidity and collateral to support FDI exposure.
Liquid near cash assets may include money market instruments such as U.S. treasury bills, treasury bonds and bank deposits. It is intended that issuers and/or guarantors of any such securities and instruments will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a Recognised Rating Agency, or will be deemed by the Investment Manager to be of equivalent quality.

##### Benchmark
MSCI AC World NR Index (the “Benchmark”).
The Benchmark is a comprehensive indicator of the performance of the global equity market, capturing large and mid-cap representation across developed and emerging markets countries. With nearly 3,000 constituents, it covers approximately 85% of the global investable equity opportunity set (as of August 2021). The Benchmark implements a comprehensive and consistent approach to index construction that allows for meaningful global views and cross regional comparisons across all market capitalization size, sector and style segments and combinations. This methodology aims to
provide exhaustive coverage of the opportunity set with a strong emphasis on index liquidity, investability and replicability. The Benchmark is reviewed quarterly to reflect changes in the underlying equity markets, while limiting undue index turnover.
Further information about the Benchmark is available at www.msci.com/acwi.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest
outside the Benchmark subject to the investment objective and policy. While the Sub-Fund’s holdings may include constituents of the Benchmark, the selection of
investments and their weightings in the portfolio are not influenced by the Benchmark. The investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.
The Benchmark for this Sub-Fund is a broad-based market benchmark that does not take ESG factors into account. The Benchmark is not used to determine whether investments are SFDR Sustainable Investments or to measure how the Sub-Fund will achieve its social objectives. Instead, the Investment Manager will seek to measure the extent to which the investee companies that the Sub-Fund invests in have a demonstrable impact on
improving the adequacy and efficiency of health systems in order measure whether the Sub-Fund’s social objectives have been attained.

##### Investment Strategy
The Sub-Fund aims to achieve long-term capital growth and contribute to social objectives by investing in securities of companies that improve the adequacy and efficiency of health systems through innovation in biotechnology and healthcare. The Sub-Fund may be concentrated at times.
Identifying the Investment Universe
In identifying and selecting companies for inclusion in the portfolio the Investment Manager is primarily looking for
“clinical pioneers” or “supporting cast” companies.
- Clinical pioneers attempt to demonstrate clinicalproof-of-concept of a therapy that adds or modifies a person’s genetic content for the purpose of treating a particular disease. These companies take differentapproaches, including gene therapy, gene editing and gene modulation.
- Supporting cast companies include contract manufacturing and/or research organisations that have special expertise in the genetic therapies space. This also includes companies that create diagnostic tools for genome sequencing as well as specialised supply companies that benefit from the growth of advancements and pipeline build in the genetic therapies field.

The Investment Manager has specialised knowledge bases in the Biotechnology, Pharmaceutical, Life Science Tools and Healthcare Provider sectors and relevant professional and academic laboratory experience.
The Investment Manager’s extensive experience both in researching these therapies and the biotechnology and
healthcare industries which focus on them, enables it to assess whether these companies will provide functional
cures for many diseases. In particular, the Investment Manager benefits from investment team members’ relevant laboratory experience.
The Investment Manager may select a significant portion (over 80%) of the securities in the Sub-Fund from relevant market sectors within the Benchmark. Such sectors include but are not limited to, Biotechnology, Pharmaceuticals, and Life Science Tools. The Sub-Fund will invest directly in selected constituents of the sectors.
The list of relevant market sectors within the Benchmark and their constituents will be reviewed regularly. Any relevant changes to the Benchmark will be reviewed and analysed by the Investment Manager who will make the decision whether to reflect the change in the investment universe.
The Investment Manager also gains exposure to companies that are not part of the Benchmark, which
meet the Investment Manager’s criteria for Smart Cures
Innovation Companies including the Investment Manager’s ESG and sustainability criteria.
Investment Selection
The Investment Manager selects investments from the investment universe by using fundamental analysis to
ascertain the management of the relevant companies’
ability and willingness to sustain and ideally grow value.
Fundamental analysis measures a company's intrinsic value by examining related economic and financial factors including the state of the economy, industry conditions, the effectiveness of the company's management, balance sheet strength, competitive landscape, share-price valuations, liquidity and the regulatory environment. Fundamental analysis allows the Investment Manager to determine whether a company is undervalued or overvalued.
Furthermore, the Investment Manager using its aforementioned expertise and the external data available
will assess a relevant company’s progress with clinical
trials and determine the probability of success. The
external data considered includes prior clinical trials performed by the company, clinical trials of competitors, trials utilising similar endpoints, or trials in a similar patient population. At this stage, the Investment
Manager’s ESG and sustainability criteria are applied
using fundamental analysis supported by strong
quantitative capabilities to assess the environmental, social and governance factors of each portfolio investment.
When determining whether a company meets the Investment Manager’s ESG and sustainability criteria and constitutes an SFDR Sustainable Investment (including
following good governance practices), the Investment Manager considers whether the company: (i) engages in sustainable business practices in an economic sense (
e.g., the company’s strategy, operations and finances are
stable and durable); (ii) takes appropriate measures to
manage any material consequences or impact of its
policies and operations in relation to ESG matters (e.g., the company’s environmental footprint, labour standards, board structure); and (iii) contributes, through its
business operations today, or will over the longer-term, to improving the adequacy and/or efficiency of health systems in a demonstrable way.
These companies may also include Smart Cures Innovation Companies whose business activities are identified as transitioning such that they will have a positive impact on the environment and/or society, despite having a history of involvement in potentially harmful activities from an environmental or social perspective. For example, this may include a large pharmaceutical company with a history of costly chronic treatments for symptoms now investing heavily in gene technology to develop one dose cures for diseases. For the avoidance of doubt, such investments will be SFDR Sustainable Investments at the time of purchase.
Similarly, in some instances, the Sub-Fund may invest in a company where the Investment Manager determines prevailing ESG information and data provided by external ESG rating providers have not fully captured positive environmental-related initiatives of the company.
The Investment Manager expects that, in seeking to identify companies that contribute to social objectives by improving the adequacy and efficiency of health systems through innovation in biotechnology and healthcare that
are compatible with the Investment Manager’s ESG and
sustainability criteria, at least 20% of the constituents of the Benchmark will be excluded from the Sub-Fund’s investment universe.
Additionally, at least 90% of the Net Asset Value of the Sub-Fund Fund (net of the Sub-Fund’s exposure to cash and liquid near cash assets, money market funds, and currency-related FDI (the “Non-ESG Assets”)) must meet the Investment Manager’s ESG and sustainability criteria
at time of purchase and on an ongoing basis. For the
avoidance of doubt, the Non-ESG Assets are not required to meet these criteria. No investment will be made in a security that is deemed to have material unresolvable environmental, social, or governance issues.
When determining whether a company meets the Investment Manager’s ESG and sustainability criteria the Investment Manager uses a combination of external and
internal data, research and ratings which are both quantitative and qualitative in nature.
The Investment Manager is dependent upon information and data from third parties (which may include providers of research reports, screenings, ratings and/or analysis such as index providers and consultants). Such information or data may be incomplete, inaccurate or inconsistent.
The Sub-Fund’s investments must continue to meet the Investment Manager’s ESG and sustainability criteria on an ongoing basis after initial purchase and the
Investment Manager will assess the level of sustainability risk that a company may be subject to in the same way as it would be assessed before initial purchase.
Sell Discipline
The Investment Manager undertakes regular performance reviews of each investment, which can include engaging directly with the management of the relevant company. Performance reviews include an assessment of an
investment’s performance relative to its peer group as
well as the Benchmark. The Investment Manager will
consider selling securities which are found to have limited or no further growth potential, are expected to fall in value, or when there are more promising investment opportunities available, particularly if probability of success with specific drug trials are deemed to be at risk.

##### The Sustainable Finance Disclosure Regulation
The Sub-Fund integrates sustainability risk into investment decisions and has sustainable investment as its objective for the purposes of Article 9 of the SFDR.
The consideration of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying
investments could be materially negatively impacted by an ESG event or condition (“ESG Event”).
The Investment Manager has access to a variety of ESG- related data points provided by third party data providers which assists with the identification of potential ESG- related issues that an issuer may be facing. This includes but is not limited to exposure to activities that may be
deemed harmful to the environment or society. This data, along with data from the Investment Manager’s own proprietary responsible investment research resources, forms a central part of the Investment Manager’s consideration and assessment of the level of
sustainability risk that an investment may be subject to.
This assessment is integrated into the security level research process which is based upon fundamental analysis of individual investment opportunities across a number of different factors including:
- Fundamental financial or economic characteristics
- Valuation
- Risk/reward profile
- The ESG characteristics of the issuer, including understanding how such considerations can impact economic returnsThe information gathered from the fundamental analysis conducted will be taken into account by the Investment Manager in deciding whether to acquire a holding in an issuer or continue to hold a position.

In the event that the sustainability risk associated with a particular investment increases beyond a level that the Investment Manager is comfortable with, taking into consideration the investment objective and strategy of
the Sub-Fund, the Investment Manager will consider selling or reducing the Fund’s exposure to the relevant investment, taking into account the best interests of the
Shareholders of the Fund.
As explained above, the assessment and management of sustainability risks forms an important part of the Investment Manager's due diligence process, however there may still be a risk that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The
Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
While this Sub-Fund is categorised as an Article 9 fund under SFDR as it aims to contribute to social objectives, it does not seek to contribute to environmental objectives. Consequently, the investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Registration in Germany
This Sub-Fund is registered for sale in Germany. The Sub- Fund is classified as an Equity Fund for German tax purposes and as such it will permanently invest more than 50% of its assets in equities as defined in article 2 paragraph 8 of the German Investment Tax Act.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 100% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps and forwards. The Sub-Fund may also utilise repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
In utilising FDI for EPM purposes, the Sub-Fund may gain indirect exposure to financial indices.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Lending Arrangements
This Sub-Fund will not utilise securities lending arrangements and, therefore, may forego any additional returns that may be produced through such activities.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. repurchase/ reverse repurchase agreements, as described under the
heading “Efficient Portfolio Management” in the
Prospectus.
The maximum exposure of the Sub-Fund in respect of SFTs shall be 100% of the Net Asset Value of the Sub-
Fund. However, it is not anticipated that the Sub-Fund’s
exposure to the SFTs will exceed 15% of the Net Asset
Value. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Share Class Hedging
This Sub-Fund offers hedged share classes. Such share classes are indicated by the suffix “(hedged)” Please see the section entitled “Share Class Hedging” in the Prospectus for further information on the operation and
impact of hedged share classes.

#### Issue of Shares
The Initial Offer Period for all launched share classes of the Sub-Fund has now closed. The Initial Offer Period of unlaunched share classes shall continue until 30 November, 2022 or such earlier or later date on which the first Shares of the relevant share class are issued, at which point the Initial Offer Period of such share class shall automatically end. Details of the launched share classes in the Sub-Fund can be found on the following website www.bnymellonim.com.
Shares in available unlaunched share classes will be
issued during their respective Initial Offer Periods at their respective initial offer price per Share of 1USD, 1€, 1£, 1CHF, 10 HKD or 1SGD depending on the currency of the
relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February. Further details are set out under the heading "The Company -
Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.
The fees and expenses relating to the establishment and
organisation of the Sub-Fund including the fees of the Sub-Fund’s professional advisers will be borne by the Sub-Fund. Such fees and expenses are estimated not to exceed €30,000 and will be borne by the Sub-Fund and will be amortised over a period of up to 3 years from the
date of the launch of the Sub-Fund.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus, in particular to “Concentration Risk”.

## Responsible Horizons Euro Impact Bond Fund

### SUPPLEMENT 60 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.


#### The Investment Manager
Insight Investment Management (Global) Limited

#### Base Currency
Euro

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro A (Acc.) | EUR | 5,000 | 5% | 0.40% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 0.40% | 0% |
| USD H (Acc.) (hedged) | USD | 5,000 | 5% | 0.40% | 0% |
| USD H (Inc.) (hedged) | USD | 5,000 | 5% | 0.40% | 0% |
| DKK H (Acc.) (hedged) | DKK | 50,000 | 5% | 0.40% | 0% |
| SEK H (Acc.) (hedged) | SEK | 50,000 | 5% | 0.40% | 0% |
| NOK H (Acc.) (hedged) | NOK | 50,000 | 5% | 0.40% | 0% |

| “G” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro G (Acc.) | EUR | 5,000 | 5% | 0.20% | 0% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 0.20% | 0% |

| “C” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro C (Acc.) | EUR | 5,000,000 | 5% | 0.20% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 0.20% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro W (Acc.) | EUR | 15,000,000 | 5% | 0.15% | 0% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.15% | 0% |
| USD W (Acc.) (hedged) | USD | 15,000,000 | 5% | 0.15% | 0% |
| USD W (Inc.) (hedged) | USD | 15,000,000 | 5% | 0.15% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.15% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.15% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.15% | 0% |
| DKK W (Acc.) (hedged) | DKK | 150,000,000 | 5% | 0.15% | 0% |
| SEK W (Acc.) (hedged) | SEK | 150,000,000 | 5% | 0.15% | 0% |
| NOK W (Acc.) | NOK | 150,000,000 | 5% | 0.15% | 0% |

| “E” Shares and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro E (Acc.) | EUR | As agreed | 5% | 0.08% | 0% |
| Euro E (Inc.) | EUR | As agreed | 5% | 0.08% | 0% |
| USD E (Acc.) (hedged) | USD | As agreed | 5% | 0.08% | 0% |
| USD E (Inc.) (hedged) | USD | As agreed | 5% | 0.08% | 0% |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.08% | 0% |
| Sterling E (Inc.) (hedged) | GBP | As agreed | 5% | 0.08% | 0% |
| CHF E (Acc.) (hedged) | CHF | As agreed | 5% | 0.08% | 0% |
| DKK E (Acc.) (hedged) | DKK | As agreed | 5% | 0.08% | 0% |
| SEK E (Acc.) (hedged) | SEK | As agreed | 5% | 0.08% | 0% |
| NOK E (Acc.) | NOK | As agreed | 5% | 0.08% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) | EUR | None | 0% | 0% | 0% |
| USD X (Acc.) (hedged) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) (hedged) | USD | None | 0% | 0% | 0% |
| Sterling X (Acc.) (hedged) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) (hedged) | GBP | None | 0% | 0% | 0% |
| CHF X (Acc.) (hedged) | CHF | None | 0% | 0% | 0% |
| CAD X (Acc.) (hedged) | CAD | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to achieve positive environmental and/or social impacts while generating a total return comprised of income and capital growth by investing in a broad range of Euro-denominated debt and debt-related securities and related FDI.

##### Investment Policy
All of the Sub-Fund’s investments, other than those intended for specific purposes such as hedging and liquidity will meet the definition of SFDR Sustainable
Investments.
SFDR Sustainable Investments means those investments which contribute to an environmental objective or that contribute to a social objective, provided that such investments do not significantly harm any of those objectives and that investee companies follow good governance practices.
The Sub-Fund will invest in two types of investments:
- Use of Proceeds Impact Bonds: fixed or floating debt and debt-related securities including related FDI where the proceeds will be exclusively applied to finance or re-finance in part or in full projects withpositive environmental (“green”) and/or social impacts and/or are defined as “environmentally sustainable economic activities” by the EU Taxonomy Regulation.
- Impact Issuers: fixed or floating debt and debt- related securities of issuers where at least 50% of their revenue streams are linked to positive environmental and/or social impacts using the UN Sustainable Development Goals as a guide as to environmental or social targets or where at least 50% of their economic activities are defined as“environmentally sustainable economic activities” bythe EU Taxonomy Regulation.

The Sub-Fund will invest at least 75% of its Net Asset Value in investment grade “Use of Proceeds Impact Bonds”.
The Sub-Fund will invest at least 70% of its Net Asset Value in Euro-denominated debt and debt-related securities.
The Sub-Fund may invest up to 30% of its Net Asset Value in fixed or floating rate government debt and debt- related securities.
The debt and debt-related securities in which the Sub- Fund may invest include: fixed and floating rate notes, private placements (such as Rule 144A securities and Reg. S securities), corporate hybrid bonds, step-up bonds, covered bonds, debentures, puttable bonds, callable bonds, zero coupon bonds, warrants as well as eurobonds and bullet bonds, supranational agency bonds, agency bonds, fixed and floating rate government bonds, municipal bonds, index-linked bonds and inflation-linked
bonds (“ILBs”)) and money market instruments (such as
certificate of deposits, commercial paper and overnight deposits) and related FDI (as listed in “Use of FDI” below) hereinafter “Debt and Debt-Related Securities”.
The Sub-Fund may invest up to 5% of its Net Asset Value in aggregate in private placements (such as certain Reg. S securities and certain Rule144A securities).
The Sub-Fund may invest up to 5% of its Net Asset Value in warrants.
The Sub-Fund will invest in investment grade Debt and Debt-Related Securities as rated by a Recognised Rating Agency. The Debt and Debt-Related Securities are classified as investment grade if at time of purchase, the median rating of the security is above Ba1/BB+/BB+. In addition, the Sub-Fund may invest up to 20% in below investment grade Debt and Debt-Related Securities.
The Sub-Fund will not invest in Debt and Debt-Related Securities rated as of the date of purchase below B- (or its equivalent), as rated by a Recognised Rating Agency. For the avoidance of doubt, the Sub-Fund will not invest in asset-backed securities, mortgage-backed securities or other investments linked to credit risk. The Sub-Fund may invest in unrated Debt and Debt-Related Securities provided the Investment Manager deems them to be of an equivalent quality as set out above. In the case of a split rating (i.e. different ratings are given by two or more rating agencies), the lower of the two highest ratings will be considered. In the event that any Debt and Debt- Related Securities held by the Sub-Fund are subsequently downgraded below the limits referred to above, the Investment Manager may maintain a maximum exposure of 3% of the Net Asset Value of the Sub-Fund to such downgraded securities. To the extent that the aggregate value of such securities or instruments exceeds 3% of the Net Asset Value of the Sub-Fund, any which have not been upgraded within a six-month period
will be sold. Exposures arising from the underlying holdings of collective investment schemes (“CIS”) will be taken into account in the application of the restrictions
set out in this paragraph.
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in open-ended CIS including exchange
traded funds (“ETFs”) and money market funds. CIS may
include another Sub-Fund or Sub-Funds of the Company
or other funds advised by the Investment Manager. Any investment in closed-ended ETFs constituting transferable securities will be in accordance with the
criteria and investment limits for transferable securities, as set out under the heading “The Company - Investment and Borrowing Restrictions” in the Prospectus.
The Sub-Fund may also hold high levels of cash and
money market instruments in certain circumstances. Please see ‘Cash and Collateral Management’ below for further details.
The Sub-Fund intends to invest globally with no
particular industry or sector focus, however the Sub-Fund may at times be concentrated in particular industry or geographical sectors depending on where the Investment Manager sees investment opportunity.
The Sub-Fund may invest up to 10% of its Net Asset Value in emerging markets, including up to 10% in Russian securities listed or traded on the Moscow Exchange.
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in transferable securities (i.e. Debt and Debt-Related Securities) which are not admitted to or dealt in on an Eligible Market in accordance with the UCITS Regulations. With the exception of permitted investment in unlisted transferable securities and
approved money market instruments, the Sub-Fund’s
investments shall be listed or traded on Eligible Markets.
A list of the Eligible Markets is set out in Appendix II of the Prospectus.
Whilst the Sub-Fund's Base Currency is Euro, the Sub- Fund may invest in non-Euro denominated assets which will generally be hedged back to Euro using currency- related FDI. The currency-related FDI which may be used
by the Sub-Fund for hedging purposes are further described in the Prospectus in the section “Financial Derivative Instruments and Techniques”.

##### Cash and Collateral Management
The Sub-Fund will hold cash and liquid near cash assets in certain circumstances, such as meeting redemptions, facilitating payment of expenses, holding cash on deposit pending reinvestment and to provide liquidity and collateral to support FDI exposure. In exceptional circumstances, the Sub-Fund may temporarily hold high levels of cash and liquid near cash assets (i.e. up to
100% of the Sub-Fund’s Net Asset Value) where market
conditions may require a defensive investment strategy (
e.g. market crash or major crisis).
Liquid near cash assets may include money market instruments and bank deposits. It is intended that issuers and/or guarantors of any such securities and instruments will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a Recognised Rating Agency, or will be deemed by the Investment Manager to be of equivalent quality. Liquid cash assets shall not be required to be Use Of Proceeds Impact Bonds or otherwise reflect or promote positive social and/or environmental impacts.

##### Benchmark
Bloomberg Barclays MSCI Euro Corporate Green Bond Index, (the “Benchmark”).
The Benchmark includes fixed-rate, investment-grade Euro denominated green corporate bonds. Inclusion is based on the currency of the issue, and not the domicile of the issuer.
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has discretion to invest outside the Benchmark subject to the investment objective and policy. However, as the Benchmark covers a significant
proportion of the investable universe, the majority of the Sub-Fund’s holdings will be constituents of the Benchmark and the weightings in the portfolio may be
similar to those of the Benchmark. The investment strategy will restrict the extent to which the portfolio holdings may deviate from the Benchmark and consequently the extent to which the Sub-Fund can outperform the Benchmark.
The Benchmark only includes fixed-rate, investment- grade Euro denominated green corporate bonds, which are a subset of the wider corporate bond market. The Benchmark is aligned with the objective of sustainable investment as use of proceeds of these bonds are tied to finance specific projects with a positive environmental goal. This is differentiated from a broad market index that does not have the same green credentials or composition. Additional information on the Benchmark including information on the methodology used for its calculation can be found here:
https://www.msci.com/our-solutions/indexes/bloomberg- msci-esg-fixed-income-indexes

##### Investment Strategy
The Sub-Fund’s core investment universe will mainly reflect the Benchmark which comprises green Use Of Proceeds Impact Bonds only, but will also include Impact
Issuers and non-green Use of Proceeds Impact Bonds,
e.g. bonds where the proceeds will be used to finance or refinance in part or in full social projects. As further detailed below, the Investment Manager then screens all issuers using ESG criteria to create a reduced ESG optimised investment universe. Within that investment universe, the Investment Manager then uses a thematic approach to identify those securities and issuers who it
expects to achieve both the Sub-Fund’s sustainability and
performance objectives, positively allocating towards
higher scoring, best in universe, securities and issuers. The Investment Manager uses the United Nations Sustainable Development Goals as a guide as to environmental or social targets as part of its thematic approach. This is described in more detail below.
The Investment Manager uses its own research and credit analysis to invest in Use Of Proceeds Impact Bonds and will use a number of criteria to assess an investment.
The framework will consider, but not be limited to, the transparency around how proceeds raised by the issuance are allocated and the measurability of any impact which is achieved and will also consider the broader sustainability alignment of the issuer in question.
Securities are rated dark green (best-in-class), light green (some weakness in sustainability criteria) or red
(don’t invest). Securities rated red will be excluded from
the investment universe.
In addition to Use Of Proceeds Impact Bonds the Investment Manager may seek to invest in Impact Issuers. The process for analysing the revenue streams of Impact Issuers may use a combination of external data (including from Bloomberg, MSCI, Sustainalytics, Vigeo Eiris and others) and internal data to make this judgement. Further data may be used to address ongoing
suitability including analysis of the issuer’s compatibility
with a low carbon economy.
In relation to both Use of Proceeds Impact Bonds and Impact Issuers the Investment Manager may use a
combination of external and internal data to determine whether activities are “environmentally sustainable economic activities” as defined by the EU Taxonomy Regulation.
In the case of all investments the Do No Significant Harm Principle will be applied.
In relation to all investments issuers that are judged to have negative impacts (for example, as a result of high carbon risks and/or severe breaches of internationally accepted norms including, but not limited to, bribery, labour rights or environmental impact) will be excluded. Issuers will also be excluded where their revenue or business model is significantly derived from products or processes that are considered unsuitable for the Sub- Fund based on its sustainability focus (for example, tobacco, defence and gambling).
Instruments which do not continue to meet these criteria after purchase will be sold. Alternatively, the Sub-Fund may continue to hold the instrument while the Investment Manager seeks to engage with the issuer to address the issue causing the concern. If the issuer has not taken reasonable steps to resolve the issue within 12 months the Investment Manager will sell the instrument.
In relation to external data, the Investment Manager is dependent upon information and data from third parties (which may include providers of research, reports, screenings, ratings and/or analysis such as index providers and consultants). Such information or data may be incomplete, inaccurate or inconsistent.
In order to assess whether an investment which meets the Investment Manager’s sustainability criteria also meets its performance objective, the Investment Manager
will primarily use "bottom-up" credit research and analysis in its selection of securities. This involves an assessment of the creditworthiness of the issuer incorporating an analysis of key credit metrics, such as leverage and cash flow. A relative value assessment of the issuer's Debt and Debt-Related Securities relative to comparable Debt and Debt-Related Securities may also be undertaken to supplement the credit research and analysis. This approach aims to identify, on a worldwide basis and without any specific geographical or sectoral focus, Debt and Debt-Related Securities with good total return generating potential.
At least 90% of the instruments held in the Sub-Fund must meet the sustainability criteria described above at time of purchase and on ongoing basis and no investment will be made in an instrument that is deemed to have material unresolvable environmental issues.
Synthetic short positions are typically used to hedge credit or interest rate risk at the overall portfolio level for risk management purposes, for example where the Investment Manager wants to reduce the credit risk of a particular corporate bond, but may not be able to sell the bond at an attractive price, the Investment Manager will take a synthetic short position in that bond. Shorting will not be used to help the Sub-Fund achieve its investment objective.
Corporate governance is a key sustainability risk factor forming part of the Investment Manager’s proprietary ESG risk ratings for all issuers to which the Sub-Fund has exposure. The Investment Manager’s corporate governance assessment includes evaluating board
practices and behaviour, remuneration, control and accountability, and ethics or controversies. The
Investment Manager applies the insights from ESG ratings alongside their own knowledge of issuers’ governance structures to set engagement priorities with
issuers. The Investment Manager considers these risks together to decide whether bond securities reasonably compensate the Sub-Fund for sustainability risks over the long and short-term.
Internal controls ensure sustainability criteria are applied to the Sub-Fund continuously. ESG restrictions are set to prevent or permit investment in securities that meet sustainability-related characteristics. These controls are coded against the Sub-Fund and updated as new information is absorbed.

##### The Sustainable Finance Disclosure Regulation
The Sub-Fund integrates sustainability risk into investment decisions and has sustainable investments as its objective for the purposes of Article 9 of the SFDR.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying
investments could be materially negatively impacted by an ESG event or condition (“ESG Event”).
Sustainability risks are managed by ensuring senior
decision makers are informed and included in the Investment Manager’s responsible investment programme, and set effective accountability,
transparency and implementation procedures. Where sustainability risk issues are assessed to be material to investment outcomes, they are incorporated into due diligence processes. This may include evaluating individual securities and/or interaction with issuers or market participants. Internal controls ensure sustainability criteria are applied continuously. ESG restrictions, which includes proprietary ESG ratings and third-party data, are set to prevent or permit investment in securities that meet sustainability-related characteristics. These controls are coded and updated as new information is absorbed. An ESG research and/or engagement process aims help the Investment Manager
to achieve the Sub-Fund’s targeted investment and
sustainability-related objectives.
As further detailed under the section headed “Investment Strategy”, corporate governance is a key sustainability risk factor forming part of proprietary ESG risk ratings for
all issuers.
In terms of social and environmental factors, the Investment Manager’s proprietary ESG ratings methodology provides sector specific and issuer specific
information on key issues. This model helps the Investment Manager to identify key risks that a specific sector or issuer may be facing.
As the Sub-Fund has sustainable investment as its objective, the Investment Manager may deliberately forego opportunities for the Sub-Fund to gain exposure to certain issuers and it may choose to sell a security when it might otherwise be disadvantageous to do so. Instead, the Sub-Fund may focus on investments in issuers that demonstrate adherence to sustainable investment.
Accordingly, the universe of investments for the Sub- Fund is smaller than that of other funds, which may affect performance and there is a risk that that the value of the Sub-Fund could be negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The EU Taxonomy Regulation Technical Screening Criteria (“TSC”) will require the availability of multiple, specific data points regarding each investment. At the date
hereof, there is insufficient reliable, timely and verifiable data available for the Manager to be able to assess the investments of the Sub-Fund using the TSC.
In addition, the regulatory technical standards for the SFDR which define the methodology for the calculation of the share of EU Taxonomy-alignment for financial products such as the Sub-Fund and the templates for the required disclosures are not yet final. As at the date hereof, the Manager is not able to provide standardised and comparable disclosures on the alignment of the Sub-
Fund’s investments with the EU Taxonomy Regulation.
While there are investments in the Sub-Fund that are in economic activities that contribute to an environmental objective and may be eligible to be assessed against the TSC, the Manager is not currently in a position to describe:
- The extent to which the investments of the Sub-Fund are in Environmentally Sustainable Economic Activities;
- The proportion, as a percentage of the Sub-Fund’s portfolio, of investments in Environmentally Sustainable Economic Activities; or
- The proportion, as a percentage of the Sub-Fund’s portfolio of EU Taxonomy Regulation Enabling Activities and “EU Taxonomy Regulation Transitional Activities.

The Manager is keeping this situation under active review
and where sufficient reliable, timely and verifiable data on the Sub-Fund’s investments become available, the Manager will provide the descriptions referred to above,
in which case, this Prospectus or the relevant Supplement will be updated.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Interest Rate Futures (including Short Term Interest Rate Futures) Government Bond Futures Bond Futures |
| --- | --- |
| Swaps | Credit Default Swaps Credit Default Swaps Index/Basket Interest Rate Swaps Total Return Swaps (TRS) (single name, credit, index and custom basket) |
| Securi- ties with Embed- ded FDI/ Leverage | Callable and Puttable Bonds Warrants |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub- Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub- Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to fixed income markets in a more cost effective or efficient manner than buying the physical securities. | Markit iTraxx Europe Main 5yr Markit iTraxx Europe Crossover 5yr Markit iTraxx Europe Senior Financials 5yr Markit iTraxx Europe Subordinated Financials 5yr |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. However, as the Sub- Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX–Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where
additional information can be found, will be set out in the Company’s semi-annual and annual accounts.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 100% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, forwards, and warrants. The Sub-Fund may also utilise repurchase/ reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central
Bank UCITS Regulations. Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI
the Sub-Fund may use for EPM purposes.

#### Securities Lending Arrangements
This Sub-Fund will not utilise securities lending arrangements and, therefore, may forego any additional returns that may be produced through such activities.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in SFTs, i.e. repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 30% and in respect of SFTs shall be 100%
of the Net Asset Value of the Sub-Fund. However, it is not anticipated that the Sub-Fund’s exposure in respect of TRS will exceed 20% and in respect of SFTs will
exceed 30% of the Net Asset Value of the Sub-Fund. The
types of assets that will be subject to TRS and SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
Shares in available unlaunched share class will be offered during an Initial Offer Period opening at 9.00 a.m. on 4 May, 2022 and closing at 5.00 p.m. on 3 November,
2022 at an initial offer price per Share of 1€, 1USD, 1£,
1CHF, 10DKK, 10SEK, 10NOK or 1CAD depending on the
currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared quarterly on 31 December, 31 March, 30 June and 30 September. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February, 11 May, 11 August and 11 November respectively. Further details are set out under
the heading "The Company - Distribution Policy” in the
Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.
The fees and expenses relating to the establishment and organisation of the Sub-Fund including the fees of the
Sub-Fund’s professional advisers will be borne by the
Sub-Fund. Such fees and expenses are estimated not to exceed €30,000 and will be borne by the Sub-Fund and will be amortised over a period of up to 3 years from the
date of the launch of the Sub-Fund.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Dynamic Factor Premia V10 Fund

### SUPPLEMENT 61 DATED 3 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY, 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund will invest principally in financial derivative instruments (“FDI”), and will use FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
Newton Investment Management North America LLC

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its investment management functions with respect to this
Sub-Fund to Newton Investment Management Limited (the “Sub-Investment Manager”). Details of the Sub- Investment Management Agreement between the
Investment Manager and the Sub-Investment Manager are set out under the heading “Sub-Investment Managers” in the Prospectus.

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin and the U.S.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
22.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD A (Acc.) | USD | 5,000 | 5% | 1.50% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 1.50% | 0% |
| Euro H (Acc.) (hedged) | EUR | 5,000 | 5% | 1.50% | 0% |
| Euro H (Inc.) (hedged) | EUR | 5,000 | 5% | 1.50% | 0% |
| DKK H (Acc.) (hedged) | DKK | 50,000 | 5% | 1.50% | 0% |
| SEK H (Acc.) (hedged) | SEK | 50,000 | 5% | 1.50% | 0% |
| NOK H (Acc.) (hedged) | NOK | 50,000 | 5% | 1.50% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD C (Acc.) | USD | 5,000,000 | 5% | 0.75% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| USD C (Inc.) | USD | 5,000,000 | 5% | 0.75% | 0% |
| Euro I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 0.75% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 0.75% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.55% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.55% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.55% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.55% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.55% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.55% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.55% | 0% |
| DKK W (Acc.) (hedged) | DKK | 150,000,000 | 5% | 0.55% | 0% |
| SEK W (Acc.) (hedged) | SEK | 150,000,000 | 5% | 0.55% | 0% |
| NOK W (Acc.) (hedged) | NOK | 150,000,000 | 5% | 0.55% | 0% |

| “E” Shares, and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD E (Acc.) | USD | As agreed | 5% | 0.30% | 0% |
| USD E (Inc.) | USD | As agreed | 5% | 0.30% | 0% |
| Euro E (Acc.) (hedged) | EUR | As agreed | 5% | 0.30% | 0% |
| Euro E (Inc.) (hedged) | EUR | As agreed | 5% | 0.30% | 0% |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.30% | 0% |
| Sterling E (Inc.) (hedged) | GBP | As agreed | 5% | 0.30% | 0% |
| CHF E (Acc.) (hedged) | CHF | As agreed | 5% | 0.30% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| Euro X (Acc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Sterling X (Acc.) (hedged) | GBP | None | 0% | 0% | 0% |
| Sterling X (Inc.) (hedged) | GBP | None | 0% | 0% | 0% |
| CHF X (Acc.) (hedged) | CHF | None | 0% | 0% | 0% |
| CAD X (Acc.) (hedged) | CAD | None | 0% | 0% | 0% |
| AUD X (Acc.) (hedged) | AUD | None | 0% | 0% | 0% |
| AUD X (Inc.) (hedged) | AUD | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to achieve a total return in excess of a cash benchmark (as described below) over an investment horizon of 3-5 years with a target volatility of 10% through a multi-asset approach to asset allocation and security selection. However, there is no guarantee that this will be achieved over that, or any time period.

##### Investment Policy
The Sub-Fund aims to invest in a diverse set of risk premia or risk factors across equities, bonds, currencies and equity volatility with a low correlation to traditional risky assets in a transparent, liquid and cost-effective
manner principally through investment in FDI (as detailed in the section ‘Use of FDI’). Further information on the risk premia can be found in the section “Investment Strategy” below.
The reference to ‘V10’ in the Sub-Fund’s name refers to the investment objective of targeting a total volatility or risk of 10% over a 3-5 year horizon. Volatility or risk can
be defined as the amount of variability of the annualised return of the Sub-Fund over a 3-5 year period. More variability indicates higher volatility. There is no
guarantee that the Sub-Fund’s realised volatility or risk
will be 10% over this period or any period.
The Sub-Fund may invest in fixed and floating rate corporate and government debt and debt-related securities including bonds, Agency Bonds, Asset-backed
securities (“ABS”), Credit Linked Notes (“CLNs”), Corporate
Hybrid bonds, Eurobonds, Exchange Traded Notes,
Floating Rate Notes, index linked bonds, inflation linked bonds, Interest only bonds, Convertible bonds, Municipal Bonds, Reg S Bonds, 144A Bonds, Structured Notes, Zero coupon bonds and money market instruments
(certificates of deposit, commercial paper, term deposits, treasury bills) and debt related FDI (hereinafter “Debt and Debt-Related Securities”). FDI are listed below under the heading “Use of FDI”.
- Index Linked Bonds – are debt securities in which payment of interest income on the principal is related to a specific price index, usually the Consumer PriceIndex. This provides protection to investors by shielding them from changes in the underlying index. The bond's cash flows are adjusted to ensure that the holder of the bond receives a known real rate of return.
- While Exchange Traded Notes are traded on an exchange, Structured Notes are purchased over the counter through a bilateral agreement with a counterparty.

The Sub-Fund may invest up to 5% of its Net Asset Value in ABS.
The Sub-Fund may invest up to 10% of its Net Asset Value in Reg S Bonds and 144A Bonds.
The Sub-Fund may invest up to 5% of its Net Asset Value in Structured Notes.
The Sub-Fund will not invest in CoCos.
Exchange Traded Notes (ETNs) may be used to provide specialist exposure to certain market sectors like a sub- sector of real estate such as U.S. real estate or other U.S mortgage related assets.
Please see the “Debt Instruments Directory” in the main body of the Prospectus for descriptions of the Debt and Debt-Related Securities other than Index Linked Bonds.
The Sub-Fund may invest in both investment grade (i.e. BBB- or above) and up to 30% of its Net Asset Value in below investment grade securities (i.e. BB+ or below) as rated by a Recognised Rating Agency, at time of purchase.
The Sub-Fund may also invest in equities, including real estate investment trusts (“REITs”), real estate operating companies (“REOC”), convertible preference shares, American depositary receipts (“ADRs”), global depositary receipts (“GDRs”) and stock purchase rights and equity related FDI (hereinafter “Equity and Equity-Related Securities”). FDI are listed below under the heading “Use of FDI”.
The Sub-Fund may invest up to 35% of its Net Asset Value in commodities through a combination of securities listed or traded on Eligible Markets such as Equity and Equity-Related Securities, Debt and Debt Related Securities and FDI. The Sub-Fund will not invest directly in commodities. FDI are listed below under the heading
“Use of FDI”.
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in open-ended CIS including money market funds, open-ended exchange traded funds
(“ETFs”) and Synthetic ETFs. All ETFs in which the Sub-
Fund invests will be UCITS.
The Sub-Fund may hold high levels of cash and liquid near cash assets in certain circumstances. Please see
‘Cash and Collateral Management’ below for further
details.
The Sub-Fund intends to invest globally in both U.S. dollar and Non U.S. dollar denominated Debt and Debt- Related Securities and Equity and Equity Related Securities of companies or issuers from developed and emerging markets with no particular industry or sector focus. The Sub-Fund may, however, at times be concentrated in particular industry or sectors depending on where the Investment Manager sees investment opportunity.
The Sub-Fund may invest up to 40% of its Net Asset Value in emerging markets, including up to 10% of its Net Asset Value in China, up to 10% of its Net Asset Value in India and up to 5% of its Net Asset Value in Russian securities listed or traded on the Moscow Exchange. The Sub-Fund will gain exposure to China and India through indirect exposure to relevant financial indices.
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in transferable securities, which are not admitted to or dealt on an Eligible Market, in accordance with the UCITS Regulations. With the
exception of permitted investments in open-ended CIS, the Sub-Fund’s investments shall be listed or traded on Eligible Markets listed in Appendix II of the Prospectus.
Whilst the Sub-Fund’s base currency is U.S. Dollar, it may invest in non-U.S. Dollar denominated assets. Such assets will not necessarily be hedged back into U.S
Dollar. In addition, the Sub-Fund may take active currency positions using currency forwards to implement
a position such as taking a long position in the Euro and
a short position on the U.S. Dollar in order to express the Investment Manager’s view on currencies other than the
U.S Dollar. Therefore, the performance of the Sub-Fund
may be strongly influenced by movements in FX rates because currency positions held by the Sub-Fund may not correspond with the securities positions held and not all assets may be hedged back to the base currency.

##### Cash and Collateral Management
The Sub-Fund will hold cash and liquid near cash assets in certain circumstances, such as meeting redemptions, facilitating payment of expenses, holding cash on deposit pending reinvestment and to provide liquidity and collateral to support FDI exposure. In exceptional circumstances, the Sub-Fund may temporarily hold high levels of cash and liquid near cash assets (i.e. up to
100% of the Sub-Fund’s Net Asset Value) where market
conditions may require a defensive investment strategy (
e.g. market crash or major crisis).
Liquid near cash assets may include money market instruments such as U.S. treasury bills, certificates of deposit, commercial paper, term deposits and bank deposits. It is intended that issuers and/or guarantors of any such securities, instruments or obligations will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a Recognised Rating Agency or will be deemed by the Investment Manager to be of equivalent quality.

##### Benchmark
FTSE 3 Month US T Bill Index (the “Cash Benchmark”).
The FTSE 3 Month US T Bill Index tracks the daily performance of 3 month US Treasury bills.
The Sub-Fund uses the Cash Benchmark as a target against which to measure its performance on a rolling annualised 3-year basis before fees. The Sub-Fund aims to be market neutral. This means that it aims to balance the aggregate long market exposure with a similar aggregate short market exposure such that the long and short market exposure net close to zero over time. On
this basis, cash is considered an appropriate target against which to measure the Sub-Fund’s performance.
The Sub-Fund is actively managed, which means the Investment Manager has discretion over the selection of investments, subject to the investment objective and policy.

##### Investment Strategy
The Sub-Fund employs a dynamic global multi-asset strategy that seeks to capture defensive, neutral and true risk premia across equities, bonds, currencies, commodities and volatility exposures, mainly through investment in FDI. Dynamic refers to how the Investment Manager will allocate between the asset classes and securities detailed in the Investment Policy section above and how it will adjust those allocations in line with the investment strategy. The Investment Manager will estimate the return and the risk associated with each premia across each asset class. The Investment Manager updates these estimates on a daily basis and re-balance and adjusts the portfolio on a regular basis based on the updated estimates The portfolio of these risk premia is carefully constructed such that the Sub-Fund can capture the return attributed to these risk premia while
maintaining a diverse set of exposures that mitigate downside risks with low correlation to traditional asset classes such as equities and bonds.
In addition, the Investment Manager seeks to generate a portfolio with a target of total volatility or risk of 10% over a 3-5 year horizon. The Investment Manager targets a portfolio volatility of 10% as part of its portfolio construction process. This process involves a portfolio optimisation technique which aims to balance the expected returns and the expected risk for each premia to create an optimal blend that maximises the risk adjusted returns. The Investment Manager constrains this optimal blend such that it has a forecast portfolio volatility of 10%.
The defensive premia such as Equity Trend tend to perform better in down markets. The neutral premia such as Equity Momentum are unrelated to market conditions. The true premia such as Equity Value tend to perform through both up and down markets.
A risk premia is defined as the return or reward an investor earns to bear that risk. For example, the most common premia is the equity risk premia. This is the equity return minus the cash rate or risk free rate. The difference between these two returns (e.g. equity minus cash) is the equity risk premia. Financial markets can be considered a set of building blocks or premia across each asset class. The Sub-Fund seeks to use these building blocks as the foundation to create a return stream that is diverse, lowly correlated to traditional assets, transparent, liquid and cost-effective.
These risk premia are: value, momentum, trend, carry, quality and volatility.
- Value is a strategy that involves selecting securities that appear to be trading for less than their intrinsic or book value
- Momentum is a strategy that involves selecting securities that have a positive price increase over a recent period such as 50 days.
- Trend is a strategy that involves selecting securities that exhibit a positive price trend over a long period.
- Carry is a strategy that involves selecting securities that have a higher return or a higher yield than its peer asset.
- Quality is a strategy that involves selecting securities that appear to have a higher quality than a peer asset.

Volatility is a strategy that involves either a long or a short position in volatility across asset classes.
The exposure to each premia can be both long (e.g. long equity momentum) and short (e.g. short equity momentum). Each risk premia can be earned across a number of asset classes simultaneously such as, long equity momentum or long currency momentum. Another example is equity volatility, where one can be long equity volatility or short equity volatility. If an investor is long equity volatility and the volatility level rises then the investor benefits, for example. This equity volatility risk premia is not related in any way to the overall volatility target of the Sub-Fund. The former is a risk premia while the later relates to the dispersion of returns of the Sub- Fund. The purpose of long and short positions is to enhance the return generation of the premia while controlling the exposure to the underlying asset class. In
order to try to benefit from equity market volatility, the Investment Manager may take a long position through purchasing a call option on an equity index. If equity market volatility causes the value of the equity index to increase, the value of the call option will increase and have a positive impact on the Sub-Fund’s Net Asset Value. However, if equity market volatility causes the value of the equity index to decrease the value of the call option will decrease and have a negative impact on the Sub-Fund’s Net Asset Value. The Investment Manager may buy and sell call options on equity indices to express its views on equity market volatility.
The Investment Manager may use variance swaps to gain
exposure to equity volatility. Inflation swaps may be used to manage inflation across various countries’ rates of inflation.
The Investment Manager will use synthetic short positions, leverage and options to manage the overall market exposure and risk profile of the Sub-Fund. The Investment Manager will use synthetic short positions to efficiently deliver the premia as described above. The Investment Manager will synthetically short companies, issuers or markets where the Investment Manager views a relative weakness in companies versus other stronger companies, markets or issuers which allows the Investment Manager to de-risk the Sub-Fund. However, the Sub-Fund will be net long the premia described above. Leverage can also be employed for risk management purposes and an example would be employing leverage to go long on hedging assets, such as sovereign bonds. Because these hedging assets are uncorrelated with the risky assets or even have negative
correlation, the overall effect would be a reduction of the Sub-Fund’s risk. Similarly, the Sub-Fund could buy a put option to reduce the risk and preserve capital in a falling
market.
The Sub-Fund will not borrow to attain its leverage, rather the Sub-Fund will use FDI in order to attain
leverage. The majority of the Sub-Fund’s positions will be
implemented using FDI such as Index Futures and
Forward Foreign Exchange Contracts. Financial Indices are used to gain exposure to different markets. For instance, the Investment Manager may purchase futures on a financial index such as FTSE China 150 Index to gain exposure to China. Exposure to a combination of financial indices can be used to capture the risk premia.

##### The Sustainable Finance Disclosure Regulation
Due to the Sub-Fund’s investment objective, policy and strategy, the Investment Manager does not integrate sustainability risks, which is defined as an ESG event or
condition that, if it occurs, could cause an actual or a
potential material negative impact on the value of the relevant investment (an “ESG Event”) into its investment decisions. However, due to the diversified nature of the
Sub-Fund, the Investment Manager has determined that the sustainability risk faced by the Sub-Fund is minimal.
The Manager has carefully evaluated the requirements of
the principal adverse impact consideration regime in Article 4 SFDR, (the “PAI regime”). The Manager is supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI
regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

##### The EU Taxonomy Regulation
The investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and OTC FDI for investment purposes:
| Futures | Currency Futures Interest Rate Futures (including Short Term Interest Rate Futures) Government Bond Futures Bond Futures Index Futures including Equity Index Futures and Volatility Index Futures Money Market Futures Equity Futures |
| --- | --- |
| Options | Equity Options (single name, index, sector, custom basket) Index Options Options on Interest Rate Futures Bond Options Options on Bond Futures Options on Government Bond Futures Interest Rate Options Options on Interest Rate Futures Options on Exchange Traded Funds (ETFs) Options on Equity Futures Options on Currency Futures Options on Volatility Indices Options on Credit Default Swaps Dividend Options Options on Dividend Futures Currency Options (including Barrier Options) |
| Swaps | Credit Default Swaps Credit Default Swaps Index/Basket Interest Rate Swaps Currency Swaps Cross Currency Swaps Commodity Swaps Dividend Swaps Equity Swaps (including single name, index and sector) Inflation Swaps Variance Swaps Index Swaps Total Return Swaps (TRS) (including single name, credit, index and custom basket) Sector Swaps Volatility Swaps |
| Forwards | Forward Foreign Exchange Contracts |
| Securities with Embedded FDI/Leverage | Convertible Bonds Asset-Backed Securities (ABS) Credit Linked Notes (CLN) Structured Notes Synthetic ETFs Exchange Traded Notes (ETNs) Stock Purchase Rights Convertible Preference Shares |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial
purpose are described in the Prospectus in the section entitled “The Company – Financial Derivative Instruments and Techniques”.

##### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both efficient portfolio management (EPM) and investment purposes. The Sub- Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub-Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Credit default swap (CDS) indices to provide exposure to global fixed income markets in a more cost effective manner than buying the physical securities. | CDX North American Investment Grade CDX North American Investment Grade High Volatility CDX North American High Yield CDX North American High Yield High Beta CDX Emerging Markets CDX Emerging Markets Diversified |
| Equity indices to provide exposure to regional and global equity markets in a more cost effective or efficient manner than buying the physical securities. | AEX Index ASX SPI Index ASX 200 Index Bovespa Index CAC- 40 Index DAX 30 Index Hang Seng Index HSCEI Index IBEX 35 Index FTSE 100 Index FTSE China 150 Index FTSE MIB Index FTSE Taiwan FTSE/JSE Top 40 Index Kospi 200 Index MSCI Singapore Index Nasdaq 100 EMINI Index Russell 2000 Index S&P 500 Index S&P CNX Nifty Index S&P Midcap 400 Index S&P/TSX 60 Index S&P Toronto 60 Index S&P Emerging Markets Index Stockholm OMX Index Swiss Markit Index TOPIX |
| Volatility indices to express the Investment Manager’s view on the volatility of a particular market or currency in a more cost effective or efficient manner than buying the physical securities. | CBOE Volatility Index |

The constituent weightings of the CDS indices are determined at the discretion of IHS Markit and typically, will not be rebalanced regularly. The remaining financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where
additional information can be found, will be set out in the Company’s semi-annual and annual accounts.

##### Long and Short Positions
The Sub-Fund may employ synthetic long and synthetic short exposures in each of the asset classes referenced in the Investment Policy to achieve its investment objective. The total gross long exposure through FDI will not exceed 2000% of the Net Asset Value of the Sub- Fund and the total gross short exposure will not exceed 2000% of the Net Asset Value of the Sub-Fund.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Absolute VaR
Absolute VaR Limit: 20% of the Net Asset Value of the Sub-Fund (using a 20 Business Day holding period)
Gross leverage is expected to vary between: 0 – 2000% of the Net Asset Value. The gross leverage may exceed this target level at times
For more information on the Absolute VaR approach and Gross Leverage, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps and forwards. The Sub-Fund may also utilise securities lending arrangements and repurchase/reverse repurchase agreements for EPM purposes, subject to the conditions and limits set out in the Central Bank UCITS Regulations.
Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI the Sub-Fund may
use for EPM purposes.

#### Securities Financing Transactions
The Sub-Fund may enter into Total Return Swaps (“TRS”), as described under the heading “Use of FDI” and may engage in SFTs, i.e. securities lending arrangements and
repurchase/reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of TRS shall be 100% and in respect of SFTs shall be 100% of the Net Asset Value of the Sub-Fund. However, it is
not anticipated that the Sub-Fund’s exposure in respect
of TRS will exceed 30% and in respect of SFTs will
exceed 15% of the Net Asset Value of the Sub-Fund. The types of assets that will be subject to TRS and SFTs will be of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on TRS and SFTs, including acceptable collateral and counterparty procedure is given under the
headings “Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
Shares in available unlaunched share class will be offered during an Initial Offer Period opening at 9.00 a.m. on 4 May, 2022 and closing at 5.00 p.m. on 3 November,
2022 at an initial offer price per Share of 1USD, 1€, 1£,
1CHF, 10DKK, 10SEK, 10NOK, 1CAD or 1AUD depending on
the currency of the relevant class (plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February. Further details
are set out under the heading “The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are set out under the sub heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management charge payable to the Manager is set out under the heading “Share Classes” above.
The fees and expenses relating to the establishment and
organisation of the Sub-Fund including the fees of the Sub-Fund’s professional advisers will be borne by the Sub-Fund. Such fees and expenses are estimated not to exceed €30,000 and will be borne by the Sub-Fund and will be amortised over a period of up to 3 years from the
date of the launch of the Sub-Fund.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

## BNY Mellon Sustainable Global Emerging Markets Fund

### SUPPLEMENT 62 DATED 31 MAY, 2022 TO THE PROSPECTUS DATED 3 MAY 2022 FOR BNY MELLON GLOBAL FUNDS, PLC
- This Supplement forms part of and should be read in conjunction with the Prospectus dated 3 May, 2022 for the Company.
- The Sub-Fund may utilise FDI for investment, hedging and efficient portfolio management purposes. In relation to the leverage effect of using FDI, see “Global Exposure and Leverage” below. Further details on the risks associated with FDI usage are described in the Prospectus under the heading “Risk Factors – Transferable Securities, FDI and Other Techniques Risks”.
- The Sub-Fund’s Net Asset Value may have a high level of volatility due to its investment policy.
- An investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.


#### The Investment Manager
Newton Investment Management Limited

#### Sub-Investment Manager
The Investment Manager may delegate certain or all of its investment management functions with respect to this Sub-Fund to Newton Investment Management North
America LLC (the “Sub-Investment Manager”). Details of
the Sub-Investment Management Agreement between the
Investment Manager and the Sub-Investment Manager are set out under the heading “Sub-Investment Managers” in the Prospectus.

#### Base Currency
U.S. Dollars

#### Business Day
Each day which is a bank business day in Dublin.

#### Valuation Day
Each Business Day or such other days as the Directors may determine provided that all Shareholders are notified in advance and provided that there shall be at least one Valuation Day in each week.

#### Valuation Point
12.00 hours (Dublin time) on a Valuation Day or such other time as the Directors may from time to time determine provided that such time is always after the Dealing Deadline and provided that all Shareholders are notified in advance.

#### Dealing Deadline
The dealing deadline for the receipt of subscription, redemption or switching requests is 12.00 hours (Dublin time) on a Valuation Day.

#### Profile of a Typical Investor
A typical investor has a medium to long-term investment horizon.

#### Share Classes
The classes of Shares in the Sub-Fund which are available to investors are set out in the share class tables below and are distinguished by designated currency, minimum initial subscription requirements and levels of fees and charges levied as set out below. A description of the distinct categories of investors for whom each class of Shares is intended is set out under
the heading “The Company - Structure” in the Prospectus.
| “A” Shares and “H (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD A (Acc.) | USD | 5,000 | 5% | 2.00% | 0% |
| USD A (Inc.) | USD | 5,000 | 5% | 2.00% | 0% |
| Euro A (Acc.) | EUR | 5,000 | 5% | 2.00% | 0% |
| Euro A (Inc.) | EUR | 5,000 | 5% | 2.00% | 0% |
| CHF A (Acc.) | CHF | 5,000 | 5% | 2.00% | 0% |
| CHF A (Inc.) | CHF | 5,000 | 5% | 2.00% | 0% |
| Euro H (Acc.) (hedged) | EUR | 5,000 | 5% | 2.00% | 0% |
| Euro H (Inc.) (hedged) | EUR | 5,000 | 5% | 2.00% | 0% |
| CHF H (Acc.) (hedged) | CHF | 5,000 | 5% | 2.00% | 0% |
| CHF H (Inc.) (hedged) | CHF | 5,000 | 5% | 2.00% | 0% |
| DKK H (Acc.) (hedged) | DKK | 50,000 | 5% | 2.00% | 0% |
| SEK H (Acc.) (hedged) | SEK | 50,000 | 5% | 2.00% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| NOK H (Acc.) (hedged) | NOK | 50,000 | 5% | 2.00% | 0% |

| “B” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD B (Acc.) | USD | 10,000 | 5% | 1.50% | 0% |
| USD B (Inc.) | USD | 10,000 | 5% | 1.50% | 0% |

| “C” Shares and “I (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD C (Acc.) | USD | 5,000,000 | 5% | 1.00% | 0% |
| USD C (Inc.) | USD | 5,000,000 | 5% | 1.00% | 0% |
| Euro C (Acc.) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Euro C (Inc.) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (Acc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |
| Euro I (Inc.) (hedged) | EUR | 5,000,000 | 5% | 1.00% | 0% |

| “G” Shares and “G (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD G (Acc.) | USD | 5,000 | 5% | 1.00% | 0% |
| USD G (Inc.) | USD | 5,000 | 5% | 1.00% | 0% |
| Euro G (Acc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) | EUR | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Acc.) | GBP | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Inc.) | GBP | 5,000 | 5% | 1.00% | 0% |
| CHF G (Acc.) | CHF | 5,000 | 5% | 1.00% | 0% |
| CHF G (Inc.) | CHF | 5,000 | 5% | 1.00% | 0% |
| USD G (Acc.) (hedged) | USD | 5,000 | 5% | 1.00% | 0% |
| USD G (Inc.) (hedged) | USD | 5,000 | 5% | 1.00% | 0% |
| Euro G (Acc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| Euro G (Inc.) (hedged) | EUR | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Acc.) (hedged) | GBP | 5,000 | 5% | 1.00% | 0% |
| Sterling G (Inc.) (hedged) | GBP | 5,000 | 5% | 1.00% | 0% |
| CHF G (Acc.) (hedged) | CHF | 5,000 | 5% | 1.00% | 0% |
| CHF G (Inc.) (hedged) | CHF | 5,000 | 5% | 1.00% | 0% |

| “E” Shares and “E (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD E (Acc.) | USD | As agreed | 5% | 0.45% | 0% |

| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| --- | --- | --- | --- | --- | --- |
| USD E (Inc.) | USD | As agreed | 5% | 0.45% | 0% |
| Euro E (Acc.) | EUR | As agreed | 5% | 0.45% | 0% |
| Euro E (Inc.) | EUR | As agreed | 5% | 0.45% | 0% |
| Sterling E (Acc.) | GBP | As agreed | 5% | 0.45% | 0% |
| Sterling E (Inc.) | GBP | As agreed | 5% | 0.45% | 0% |
| CHF E (Acc.) | CHF | As agreed | 5% | 0.45% | 0% |
| CHF E (Inc.) | CHF | As agreed | 5% | 0.45% | 0% |
| Euro E (Acc.) (hedged) | EUR | As agreed | 5% | 0.45% | 0% |
| Euro E (Inc.) (hedged) | EUR | As agreed | 5% | 0.45% | 0% |
| CHF E (Acc.) (hedged) | CHF | As agreed | 5% | 0.45% | 0% |
| CHF E (Inc.) (hedged) | CHF | As agreed | 5% | 0.45% | 0% |
| Sterling E (Acc.) (hedged) | GBP | As agreed | 5% | 0.45% | 0% |
| Sterling E (Inc.) (hedged) | GBP | As agreed | 5% | 0.45% | 0% |

| “W” Shares and “W (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD W (Acc.) | USD | 15,000,000 | 5% | 0.75% | 0% |
| USD W (Inc.) | USD | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Acc.) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Inc.) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Acc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Inc.) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Acc.) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Inc.) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Acc.) (hedged) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| Euro W (Inc.) (hedged) | EUR | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Acc.) (hedged) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| CHF W (Inc.) (hedged) | CHF | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Acc.) (hedged) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| Sterling W (Inc.) (hedged) | GBP | 15,000,000 | 5% | 0.75% | 0% |
| SGD W (Acc.) (hedged) | SGD | 15,000,000 | 5% | 0.75% | 0% |

| “X” Shares and “X (hedged)” Shares |
| --- |
| Class | Currency | Minimum Initial Investment in Currency of Share Class | Maximum Initial Sales Charge (up to) | Annual Management Charge | Redemption Fee |
| USD X (Acc.) | USD | None | 0% | 0% | 0% |
| USD X (Inc.) | USD | None | 0% | 0% | 0% |
| Euro X (Acc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) | EUR | None | 0% | 0% | 0% |
| Euro X (Acc.) (hedged) | EUR | None | 0% | 0% | 0% |
| Euro X (Inc.) (hedged) | EUR | None | 0% | 0% | 0% |


#### Investment Objective, Investment Policy and Other Information

##### Investment Objective
The Sub-Fund aims to achieve long-term capital growth and has a sustainable investment objective.
Specifically, the Sub-Fund aims to contribute to social and environmental objectives by investing in securities of emerging market companies that demonstrate attractive investment attributes and support sustainable development.

##### Investment Policy
The Sub-Fund will invest at least 75% of its Net Asset Value in companies listed, traded, located or deriving at least half of their revenue or income from emerging market countries including Russia, China and India.
The Sub-Fund will invest at least 75% of its Net Asset Value in equity and equity-related securities of companies in emerging market countries that contribute to social or environmental objectives by supporting sustainable development, through contributing to one or more of the UN Sustainable Development Goals (the
“SDGs”). Examples of the SDGs include climate action,
affordable and clean energy, sustainable cities and
communities, good health and wellbeing, quality education, and zero hunger.
All of the Sub-Fund’s investments, other than those intended for specific purposes such as hedging, and
liquidity will meet the definition of SFDR Sustainable Investments.
SFDR Sustainable Investments means those investments which contribute to an environmental objective or that contribute to a social objective, provided that such investments do not significantly harm any of those objectives and that investee companies follow good governance practices.
Investments must meet the Investment Manager’s binding environmental, social and governance (“ESG”) and sustainability criteria. In addition to contributing to social
or environmental objectives, by contributing to one or more of the UN SDGs, the Investment Manager will also seek to:
Identify and avoid investing in companies that participate in specific areas of activity that the Investment Manager deems to be harmful from an environmental and/or social perspective. All companies in which investments are made follow good governance practices as set out in the UN Global Compact principles. Companies in breach of the UN Global Compact principles which includes principles relating to human rights, labour, environment, and anti-corruption are excluded; and
Identify and invest in companies that are proactively seeking to manage environmental and/or social factors well, which in turn should support long-term financial returns. This will also include those companies that are contributing to the development of solutions that will contribute towards addressing environmental and/or social issues including more efficient or reduced use of resources or accessibility to healthcare.
Companies the Sub-Fund invests in are subject to the above binding elements as part of the Investment
Manager’s ESG and sustainability criteria to attain the Sub-Fund’s sustainable investment objective.
The equity and equity-related securities in which the Sub-Fund may invest include common and preference shares, American depositary receipts, global depository receipts, securities convertible into or exchangeable for
such equities (such as convertible preference shares, participatory notes (“P-Notes”) including low exercise price options (“LEPOs”) and low exercise price warrants (“LEPWs”), listed real estate investment trusts (“REITs”), Real Estate Operating Companies (REOCs) and other
closed-ended listed funds including listed Investment Trusts, warrants (subject to a 10% limit of the Net Asset
Value of the Sub-Fund in the case of warrants), stock purchase rights and related FDI (as listed in “Use of FDI” below), hereinafter “Equity and Equity-Related Securities”.
The Sub-Fund may invest up to 10% of its Net Asset Value in listed REITs and up to 10% of its Net Asset Value in listed REOCs. The REITs and REOCs in which the Sub-Fund may invest could contribute towards social objectives by financing social housing, hospitals or essential infrastructure.
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in open-ended collective investment
schemes (“CIS”) such as equity index-based exchange traded funds (“ETFs”) and money market funds. CIS will be selected for the Sub-Fund on the basis that they are
either expected to contribute towards the Sub-Fund meeting its investment objective (and constitute SFDR Sustainable Investments) or because their use is deemed appropriate for liquidity management or hedging purposes. CIS may include another Sub-Fund or Sub- Funds of the Company or other funds advised by the Investment Manager. Any investment in closed-ended CIS constituting transferable securities will be in accordance
with the criteria and investment limits for transferable securities, as set out under the heading “The Company - Investment and Borrowing Restrictions” in the Prospectus.
The Sub-Fund may hold cash and liquid near cash assets in certain circumstances including where the Investment Manager believes markets are overvalued or where
market conditions may require a defensive investment strategy or as set out below in the section ‘Cash and Collateral Management’.
With the exception of permitted investment in unlisted
transferable securities and approved money market instruments, the Sub-Fund’s investments shall be listed or traded on Eligible Markets. A list of the Eligible
Markets is set out in Appendix II of the Prospectus.
The Sub-Fund may invest up to 10% of its Net Asset Value in Russian securities listed or traded on the Moscow Exchange.
Methods of gaining exposure to Chinese securities may include purchasing China H-shares listed or traded on the Hong Kong Stock Exchange, China B-shares listed or traded on the Shanghai Stock Exchange or the Shenzhen Stock Exchange or China A-shares via the Stock Connect. The Sub-Fund may invest up to 10% of its Net Asset Value in China A-shares via the Stock Connect. Further
details about the Stock Connect are set out in Appendix V to the Prospectus.
Whilst the Sub-Fund’s base currency is USD, it may invest in non-USD denominated assets. Such assets will not necessarily be hedged back into USD. In addition, the
Sub-Fund may take active currency positions on currencies other than USD to express the Investment
Manager’s view on currencies in order to help the Sub-
Fund increase its capital growth. FDI such as forward foreign exchange contracts, currency futures or options on currency futures may be used for these purposes.
Therefore, while active currency positions will not form a central part of the Sub-Fund’s investment strategy, the performance of the Sub-Fund may be strongly influenced
by movements in FX rates because currency positions held by the Sub-Fund may not correspond with the securities positions held.

##### Cash and Collateral Management
The Sub-Fund will hold cash and liquid near cash assets in certain circumstances, such as meeting redemptions, facilitating payment of expenses, holding cash on deposit pending reinvestment and to provide liquidity and collateral to support FDI exposure.
Liquid near cash assets may include money market instruments (such as U.S. treasury bills, certificates of deposit, commercial paper and term deposits) and bank deposits. It is intended that issuers and/or guarantors of any such securities and instruments will have a credit rating at the time of purchase of at least A1/P1 (or its equivalent) from a Recognised Rating Agency or will be deemed by the Investment Manager to be of equivalent quality.

##### Benchmark
MSCI Emerging Markets NR Index (the “Benchmark”).
The Benchmark is a float-adjusted market capitalisation index that is designed to measure equity market performance of large and mid-cap representation across global emerging markets. The Benchmark covers approximately 85% of the free float-adjusted market capitalisation in each country it covers which currently includes: Argentina, Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Kuwait, Malaysia, Mexico, Pakistan, Peru, Philippines, Poland, Qatar, Russia, Saudi Arabia, South Africa, Taiwan, Thailand, Turkey and United Arab Emirates (as of September 2021).
Further information about the Benchmark is available at https://www.msci.com/our-solutions/indexes/emerging- markets
The Sub-Fund will measure its performance against the Benchmark.
The Sub-Fund is actively managed, which means the Investment Manager has absolute discretion to invest
outside the Benchmark subject to the investment objective and policy. While the Sub-Fund’s holdings may include constituents of the Benchmark, the selection of
investments and their weightings in the portfolio are not influenced by the Benchmark. The investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark.
The Benchmark for this Sub-Fund is a broad-based market benchmark that does not take ESG factors into account. The Benchmark is not used to determine whether investments are SFDR Sustainable Investments or to measure how the Sub-Fund will achieve its environmental and social objectives. Instead, the Investment Manager will seek to measure the extent to which the investee companies that the Sub-Fund invests
in contribute to the SDGs in order measure whether the Sub-Fund’s environmental and social objectives have been attained.

##### Investment Strategy
The Investment Manager’s firm level investment process uses a combination of investment themes, fundamental analysis and security valuation. Themes seek to identify
the major areas of structural change in the world. Structural change encompasses multiple changes such as environmental, economic, technological and demographic changes which provide context to investment analysis and decision making helping the Investment Manager identify areas of potential opportunity and risk both at the asset class and security level. Fundamental analysis and consideration of security valuations by the Investment Manager then helps to determine areas of potential investments for the Sub- Fund.
Security valuation includes detailed analysis based on a wide range of financial metrics and research. This includes consideration of ESG risks, opportunities, and issues. When investing in securities, the portfolio
manager will consider the impact of these investments on the Sub-Fund’s overall construction, such as asset class exposures, the size of each security position and
the investment risk characteristics of the securities themselves. There is no restriction on the size (market capitalisation) of the companies that the Sub-Fund may invest in. In addition, the Sub-Fund is considerably more
concentrated than the Benchmark as it has exposure to significantly fewer companies. The Investment Manager’s approach concentrates on seeking to invest in
attractively valued stocks of companies with good prospects and strong fundamentals. The Investment Manager looks in particular for balance sheet strength, durable returns on capital and management teams which emphasise the interests of shareholders.
When determining whether a company meets the Investment Manager’s ESG and sustainability criteria, and constitutes an SFDR Sustainable Investment (including
following good governance practices), the Investment Manager considers whether the company: (i) engages in
sustainable business practices in an economic sense (e.g. the company’s strategy, operations and finances are stable and durable); (ii) takes appropriate measures to
manage any material consequences or impact of its policies and operations in relation to ESG matters (e.g.,
the company’s environmental footprint, labour standards,
board structure); and (iii) contributes, through its
business operations today, and has credible plans to contribute further over the longer-term (where relevant),, to one or more of the UN Sustainable Development Goals in a demonstrable way.
These Companies may include those whose business activities are identified as transitioning, such that they have a positive impact on the environment and/or society. Involvement in potentially harmful activities from an environmental or social perspective may arise for certain companies whose activities or operations, typically due to a legacy business mix, may have historically created poor environmental or social outcomes but that are now investing and positively adapting to future needs. For example, this may include power generation companies that are building facilities that harness renewable resources in order to support a low carbon economy and have committed to decommission coal-fired power plants. For the avoidance of doubt, such investments will be SFDR Sustainable Investments at the time of purchase.
Similarly, in some instances, the Sub-Fund may invest in a company where the Investment Manager determines prevailing ESG information and data provided by external ESG rating providers have not fully captured positive environmental or social-related initiatives of the company.
Additionally, at least 90% of the Net Asset Value of the Sub-Fund net of the Sub-Fund’s exposure to cash and liquid near cash assets, money market funds, and currency-related FDI (the “Non-ESG Assets”)) must meet the Investment Manager’s ESG and sustainability criteria
at time of purchase and on an ongoing basis. For the
avoidance of doubt, the Non-ESG Assets are not required to meet these criteria. No investment will be made in a security that is deemed to have material unresolvable environmental, social, or governance issues. When
determining whether a company meets the Investment Manager’s ESG and sustainability criteria the Investment Manager uses a combination of external and internal
data, research and ratings which are both quantitative and qualitative in nature.
The Investment Manager is dependent upon information and data from third parties (which may include providers of research reports, screenings, ratings and/or analysis such as index providers and consultants). Such information or data may be incomplete, inaccurate or inconsistent.
The Sub-Fund’s investments must continue to meet the Investment Manager’s ESG and sustainability criteria on an ongoing basis after initial purchase and the
Investment Manager will assess the level of sustainability risk that a company may be subject to in the same way as it would be assessed before initial purchase.
The Sub-Fund will invest predominantly invest in Equity and Equity-Related Securities, though it may also invest in cash and liquid near cash assets for the purposes of hedging or liquidity, when deemed appropriate by the Investment Manager. Whilst the Sub-Fund has the ability to use FDI, it does not form a central part of the investment strategy. The use of FDI will likely be on an occasional basis, should the Investment Manager deem FDI provide a more optimal way of achieving the Sub-
Fund’s investment objective than direct investments. Any
use of FDI for investment purposes will only be permitted
to the extent that this is expected to enable the Investment Manager to attain the Sub-Fund’s environmental and social objectives.

#### Sustainable Finance Disclosure Regulation
The Sub-Fund integrates sustainability risk into investment decisions and has sustainable investment as its objective for the purposes of Article 9 of the SFDR.
The consideration of sustainability risk forms an important part of the due diligence process implemented by the Investment Manager.
When assessing the sustainability risk associated with underlying investments, the Investment Manager is assessing the risk that the value of such underlying
investments could be materially negatively impacted by an ESG event or condition (“ESG Event”).
The Investment Manager has access to a variety of ESG- related data points provided by third party data providers which assists with the identification of potential ESG- related issues that an issuer may be facing. This includes but is not limited to exposure to activities that may be
deemed harmful to the environment or society. This data, along with data from the Investment Manager’s own proprietary responsible investment research resources, forms a central part of the Investment Manager’s consideration and assessment of the level of
sustainability risk that an investment may be subject to.
This assessment is integrated into the security level research process which is based upon fundamental analysis of individual investment opportunities across a number of different factors including:
- Fundamental financial or economic characteristics
- Valuation
- Risk/reward profile
- The ESG characteristics of the issuer, including understanding how such considerations can impact economic returnsThe information gathered from the fundamental analysis conducted will be taken into account by the Investment Manager in deciding whether to acquire a holding in an issuer or continue to hold a position.

In the event that the sustainability risk associated with a particular investment increases beyond a level that the Investment Manager is comfortable with, taking into consideration the investment objective and strategy of the Sub-Fund, the Investment Manager will consider
selling or reducing the Fund’s exposure to the relevant
investment, taking into account the best interests of the
Shareholders of the Fund.
As explained above, the assessment and management of sustainability risks forms an important part of the Investment Manager's due diligence process, however there may still be a risk that the value of the Sub-Fund could be materially negatively impacted by an ESG Event.
The Manager has carefully evaluated the requirements of the principal adverse impact consideration regime in
Article 4 SFDR, (the “PAI regime”). The Manager is
supportive of the policy aims of the PAI regime, to
improve transparency to investors and the market, as to how financial market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. The Manager does not, however, currently consider the adverse impacts of investment decisions on sustainability factors in line with the PAI regime for the Sub-Fund because of concerns about the lack of readily available data to comply with many of the technical reporting requirements of the regime. The Manager continues to analyse the data available that would be necessary to comply with these technical reporting requirements and to assess its obligations under the PAI regime in conjunction with the Investment Manager and will keep its decision not to comply with the PAI regime under regular review.

#### The EU Taxonomy Regulation
While this Sub-Fund is categorised as Article 9 under SFDR and aims to contribute to environmental objectives, as at the date of this Supplement the investments underlying this Sub-Fund do not take into account the EU Criteria for Environmentally Sustainable Economic Activities notwithstanding that certain investments held by the Sub-Fund may incidentally contribute to the environmental objectives of Climate Change Mitigation and/or Climate Change Adaptation. This will be kept
under active review and may be reconsidered as and
when more sufficient, reliable, timely and verifiable data on the Sub-Fund’s investments become available.

#### Registration in Germany
It is intended that this Sub-Fund will be registered for sale in Germany. The Sub-Fund is classified as an Equity Fund for German tax purposes and as such it will permanently invest more than 50% of its assets in equities as defined in article 2 paragraph 8 of the German Investment Tax Act.

#### Use of FDI
The Sub-Fund may invest in the following exchange- traded and over-the-counter FDI for investment purposes:
| Futures | Currency Futures Equity Index Futures Equity Futures Index Futures |
| --- | --- |
| Options | Equity Options (single name, index, sector, custom basket) LEPOs and LEPWs Index Options Options on Equity Futures Currency Options Options on Currency Futures |
| Forwards | Forward Foreign Exchange Contracts |
| Securities with Em- bedded FDI/ Leverage | Warrants Stock Purchase Rights Convertible Preference Shares |

Further details regarding the use of FDI for investment, hedging and EPM purposes, including their commercial purpose, are described in the Prospectus in the section
entitled “The Company – Financial Derivative Instruments and Techniques”.

#### Financial Indices
The Sub-Fund may gain indirect exposure to financial indices through the use of FDI for both EPM and investment purposes. The Sub-Fund utilises the following financial indices for investment purposes where it is more efficient to do so or in circumstances in which the Sub-Fund may not access the investments directly.
| Type of Financial Indices | Name of Financial Indices |
| --- | --- |
| Equity indices to provide exposure to regional and global equity markets in a more cost effective or efficient manner than buying physical securities | MSCI Emerging Markets Index MSCI India Index MSCI China Index |

These financial indices will typically be rebalanced regularly. However, as the Sub-Fund does not aim to replicate or track any financial index it will not be directly impacted by any rebalancing, associated costs or stock weighting in a financial index which would exceed the permitted investment restrictions.
Details of where to find additional information on the financial indices named above are provided in ‘Appendix IX – Additional Information on Financial Indices used for Investment Purposes’ in the Prospectus.
Should the Sub-Fund gain exposure to a financial index for investment purposes which is not listed above, details, including the market it represents and where
additional information can be found, will be set out in the Company’s semi-annual and annual accounts.

#### Global Exposure and Leverage
Global Exposure Calculation Methodology: Commitment approach
Maximum leverage: 100% of the Net Asset Value
For more information on the commitment approach, please see “The Company – Global Exposure and Leverage” section in the Prospectus.

#### Efficient Portfolio Management
The Sub-Fund may utilise the following types of FDI for EPM purposes: - futures, options, swaps, forwards, and warrants. The Sub-Fund may also utilise repurchase/ reverse repurchase agreements for EPM purposes,
subject to the conditions and limits set out in the Central Bank UCITS Regulations. Please see “The Company – Efficient Portfolio Management” in the Prospectus for further information on the types of techniques and FDI
the Sub-Fund may use for EPM purposes.

#### Stocklending Arrangements
This Sub-Fund will not utilise stocklending arrangements and, therefore, may forego any additional returns that may be produced through such activities.

#### Securities Financing Transactions
The Sub-Fund may engage in SFTs, i.e. repurchase/
reverse repurchase agreements, as described under the heading “Efficient Portfolio Management” in the Prospectus.
The maximum exposure of the Sub-Fund in respect of SFTs shall be 100% of the Net Asset Value of the Sub-
Fund. However, it is not anticipated that the Sub-Fund’s
exposure to the SFTs will exceed 15% of the Net Asset
Value. The types of assets that will be subject to SFTs will be securities which are of a type which is consistent with the investment policy of the Sub-Fund.
Additional detail on SFTs, including acceptable collateral and counterparty procedure is given under the headings
“Appendix III - Securities Financing Transactions”, “Appendix III - Management of Collateral”, “Appendix III - Use of Repurchase/Reverse Repurchase and Securities Lending Agreements”, “Efficient Portfolio Management” and “Risk Factors” in the Prospectus.

#### Issue of Shares
Shares in available unlaunched share class will be offered during an initial offer period opening at 9.00 a.m.
on 1 June, 2022 and closing at 5.00 p.m. on 30 November, 2022 (the “Initial Offer Period”) at an initial offer price per Share of 1USD, 1€, 1£, 1CHF, 10DKK, 10SEK, 10NOK, or
1SGD depending on the currency of the relevant class
(plus the sales charge, if any, applicable to the relevant class).
The respective initial offer periods may be shortened or extended by the Directors. The Central Bank will be notified in advance of any such shortening or extension if subscriptions for Shares have been received or otherwise on a yearly basis.
Following the respective initial offerings, Shares in each class will be allotted on each Valuation Day at the Valuation Point. The Subscription Price is the Net Asset Value per Share of that class calculated at the Valuation Point (plus the sales charge, if any, applicable to the relevant class).
All applications for the issue of Shares must be received by the Dealing Deadline in the manner set out in the Prospectus.

#### Distribution Policy
In the case of the income generating (Inc.) and accumulating (Acc.) share classes, dividends will normally be declared annually on 31 December. For holders of income generating Shares, the declared dividends will normally be paid on or before 11 February. Further details
are set out under the heading "The Company - Distribution Policy” in the Prospectus.

#### Fees
The fees and expenses of the Directors, the Investment Manager, the Administrator, the Depositary and the preliminary expenses are as set out under the heading
“Management and Administration of the Company - Fees and Expenses” in the Prospectus. The annual management fee payable to the Manager is set out under the heading “Share Classes” above.
The fees and expenses relating to the establishment and organisation of the Sub-Fund including the fees of the
Sub-Fund’s professional advisers will be borne by the
Sub-Fund. Such fees and expenses are estimated not to exceed €35,000 and will be borne by the Sub-Fund and will be amortised over a period of up to 3 years from the
date of the launch of the Sub-Fund.

#### Risk Factors
Investors' attention is drawn to the section entitled “Risk Factors” in the Prospectus.

Translation (ENFR, 2022-06-24):
# Annexe IX
### INFORMATIONS SUPPLÉMENTAIRES SUR LES INDICES FINANCIERS UTILISÉS À DES FINS D’INVESTISSEMENT
Lorsque cela est exposé dans le Supplément concerné, un Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement. Vous trouverez ci-dessous des informations complémentaires sur les indices financiers.
| Indices | Lien |
| --- | --- |
| AEX Index CAC 40 Index | https://live.euronext.com/en/products/indices |
| ASX SPI Index | https://www2.asx.com.au/markets/trade-our-derivatives-market/derivatives-market-  prices/index-derivatives |
| Borsa Istanbul | www.borsaistanbul.com |
| BOVESPA Index | https://www.b3.com.br/en_us/market-data-and-indices/indices/ |
| Barclays Capital Aggregate Bond Index | https://www.bloomberg.com/markets/rates-bonds/bloomberg-barclays-indices |
| Bloomberg Commodity Index | https://www.bloomberg.com/professional/product/indices/ |
| Chicago Board Options Exchange SPX Volatility Index | http://www.cboe.com/vix |
| Dax 30 Index MDAX Index | https://www.dax-indices.com/indices |
| EURIBOR | https://www.euribor-rates.eu/ |
| Euro Stoxx 50 Index Stoxx Europe 600 Index Stoxx Europe Small 200 | https://www.stoxx.com/indices |
| FTSE 100 Index FTSE 350 Supersectors Index FTSE All Share Index FTSE China 150 Index FTSE MIB Index FTSE Taiwan FTSE World Index FTSE/JSE Top 40 Index Russell 2000 Index | https://www.ftserussell.com/index |
| Hang Seng Index HSCEI Index | https://www.hsi.com.hk/eng |
| IBEX 35 Index | https://www.bolsamadrid.es/ing/aspx/Indices/Resumen.aspx |
| KOSPI Index KOPSI 200 Index | https://global.krx.co.kr |
| LIBOR | https://www.theice.com/iba/libor |
| Markit CDX North American Investment Grade Index Markit CDX American Investment Grade High Volatility Index Markit CDX North American High Yield Index Markit CDX North American High Yield Beta Index Markit CDX Emerging Markets Index Markit CDX Emerging Markets Diversified Index Markit iBoxx EUR Liquid High Yield Index Markit iBoxx GBP Corporates Index Markit iBoxx GEMX Index Markit iBoxx USD Domestic Corporates Index Markit iBoxx USD Liquid HY Index Markit iBoxx USD Liquid IG Index Markit iBoxx USD Liquid Leveraged Loans Index Markit iBoxx EUR Corporates Index Markit iTraxx Asia Index Markit iTraxx CDS Index Markit iTraxx Crossover Index Markit iTraxx Europe Index Markit iTraxx Europe Crossover (High Yield) Index Markit iTraxx Financial Index Markit iTraxx Senior Financials Index Markit iTraxx Subordinated Financial Index | https://ihsmarkit.com/products/indices.html |
| MSCI All Countries World Index MSCI Emerging Markets Index MSCI Singapore Index MSCI World Developed ex Europe Index | https://www.msci.com/index-solutions |

| Indices | Lien |
| --- | --- |
| Nasdaq Composite Index Nasdaq 100 EMINI Index | https://www.nasdaq.com/ |
| Nikkei 225 Index | https://indexes.nikkei.co.jp/en/nkave/ |
| S&P/ASX 200 Index S&P 500 Index S&P CNX Nifty Index S&P Emerging Markets Index S&P GSCI Index S&P Midcap 400 Index S&P/TSX Composite Index S&P/TSX 60 Index | https://www.spglobal.com/spdji/en/index-finder/ |
| SOFR | https://apps.newyorkfed.org/markets/autorates/SOFR |
| SONIA | https://www.bankofengland.co.uk/markets/sonia-benchmark |
| Stockholm OMX Index | https://indexes.nasdaqomx.com/index/overview/omxs30 |
| Swiss Markit Index | https://www.six-group.com/exchanges/indices/ |
| TOPIX | https://www.jpx.co.jp/english/markets/indices/ |


## BNY Mellon Asian Equity Fund

### SUPPLÉMENT 1, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci-après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- La Valeur liquidative du Compartiment peut faire l’objet d’une volatilité élevée en raison de sa politique d’investissement.
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Newton Investment Management Limited

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro A | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| USD A | USD | 5 000 | 5 % | 2,00 % | 0 % |
| Sterling A (Cap.) | GBP | 5 000 | 5 % | 2,00 % | 0 % |
| Sterling A (Dist.) | GBP | 5 000 | 5 % | 2,00 % | 0 % |

| Actions « B » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro B | EUR | 10 000 | 5 % | 1,50 % | 0 % |
| USD B | USD | 10 000 | 5 % | 1,50 % | 0 % |

| Actions « G » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Cap.) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Dist.) | GBP | 5 000 | 5 % | 1,00 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro C | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling C (Dist.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling C (Cap.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |

| Actions « W » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| USD W | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |

| Actions « X » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à assurer l’appréciation du capital à long terme en investissant principalement (c’est-à-dire au moins les deux tiers de ses actifs) dans un portefeuille d’actions et jusqu’à un tiers de ses actifs
dans des titres apparentés à des actions de sociétés
implantées, ou réalisant la majeure partie de leur chiffre d’affaires en Asie (hors Japon).

##### Politique d’investissement
Le Compartiment investira principalement, c’est-à-dire au moins les deux tiers de sa Valeur liquidative, dans un portefeuille d’actions et jusqu’à un tiers de sa Valeur liquidative dans des titres apparentés à des actions,
notamment des obligations convertibles (généralement non notées), des actions privilégiées convertibles et des bons de souscription (dans la limite de 10 % de sa Valeur liquidative, pour les bons de souscription) de sociétés
implantées ou réalisant la majeure partie de leur chiffre d’affaires en Asie (hors Japon). Le Compartiment peut investir dans des régions asiatiques développées et
émergentes (hors Japon). Un tiers au plus de la Valeur liquidative du Compartiment pourra également être investi dans des actions et titres apparentés de sociétés
qui ne sont pas situées en Asie (hors Japon) et qui ne réalisent pas la majeure partie de leur chiffre d’affaires en Asie (hors Japon).
Le Compartiment peut investir jusqu’à 30 % de sa Valeur liquidative dans des actions chinoises de classe A par le
biais de Stock Connect. Stock Connect est présenté plus en détail dans l’Annexe V du Prospectus.
La majeure partie des investissements du Compartiment seront des actifs cotés ou négociés sur des Marchés éligibles en Asie et en Région pacifique.
En outre, le Compartiment n’investira pas plus de 10 % de sa Valeur liquidative globale dans des organismes de placement collectif.

##### Indice de référence
L’indice MSCI AC Asia Pacific ex Japan TR Index (l’« Indice de référence »).
L’Indice de référence intègre des fortes et moyennes capitalisations représentatives des marchés développés (hors Japon) et des marchés émergents dans la région
Asie-Pacifique. Avec 1 060 composantes, l’indice couvre
approximativement 85 % de la capitalisation boursière
ajustée du flottant dans chaque pays.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que le Gestionnaire de portefeuille a tout pouvoir pour investir
en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement. Bien que les avoirs du Compartiment puissent inclure des composantes de l’Indice de référence, la sélection des
placements et leurs pondérations dans le portefeuille ne sont pas influencées par celles de l’Indice de référence. La stratégie d’investissement ne restreint pas la mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.

##### Stratégie d’investissement
La philosophie d’investissement est basée sur la conviction du Gestionnaire de portefeuille qu’aucune société, aucun marché ni aucune économie ne peuvent
être considérés isolément, chacun de ces éléments devant être examiné dans un contexte global. Le Gestionnaire de portefeuille estime que les événements qui surviennent dans le monde influent sur tous les
marchés financiers et qu’un investissement réussi dans
des actions asiatiques implique par conséquent de bien
comprendre le monde dans son ensemble.
Le Gestionnaire de portefeuille identifie les thèmes qui touchent à des changements majeurs au niveau
international et les utilise pour étayer ses idées d’investissement. Le Gestionnaire de portefeuille utilise une approche thématique mondiale qui lui permet d’acquérir une perspective à long terme sur les marchés financiers et les économies du monde entier, en gardant toujours une vision d’ensemble. La perspective est une caractéristique essentielle du processus d’investissement, car elle permet d’anticiper les
évolutions à l’échelle mondiale et oriente les analystes et
gestionnaires de portefeuille vers les opportunités
rentables.
Le Gestionnaire de portefeuille a construit ses portefeuilles d’actions asiatiques d’après cette vision globale, au moyen d’un processus d’investissement axé
sur la recherche ascendante. Cette approche met l’accent sur les actions de sociétés assorties d’une valorisation intéressante et offrant de bonnes perspectives et de
solides fondamentaux.

##### Règlement sur la publication d’informations en matière de finance durable
La prise en compte du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents, il évalue le risque qu’un événement ou une
condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Le Gestionnaire de portefeuille a accès à diverses catégories de données ESG fournies par des tiers, qui
permettent d’identifier les problèmes ESG potentiels
auxquels un émetteur peut être confronté. Cela inclut, entre autres, l’exposition à des activités pouvant être considérées comme nocives pour l’environnement ou la société. Ces données, ainsi que celles obtenues par le
Gestionnaire de portefeuille dans le cadre de sa propre recherche sur l’investissement responsable, constituent une part importante de la prise en compte et de l’évaluation du niveau de risque en matière de durabilité auquel un investissement peut être soumis.
Cette évaluation est intégrée au processus de recherche au niveau des titres, qui repose sur l’analyse fondamentale des opportunités d’investissement individuelles à travers un certain nombre de facteurs
différents, notamment :
- les caractéristiques financières ou économiques fondamentales ;
- l’évaluation ;
- le profil risque/rendement ; et
- les caractéristiques ESG de l’émetteur, y compris la compréhension de la manière dont cesconsidérations peuvent avoir un impact sur les rendements économiques.

Le Gestionnaire de portefeuille tiendra compte des informations recueillies à partir de l’analyse fondamentale dans sa décision d’acquérir une participation dans une société émettrice ou de conserver
une position donnée.
Comme expliqué ci-dessus, l’évaluation et la gestion des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours
possible qu’un Événement ESG ait une incidence négative importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences
négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Enregistrement en Allemagne
Ce Compartiment est enregistré à la vente en Allemagne. Le Compartiment est classé en tant que Fonds
d’investissement aux fins de l’impôt allemand et, à ce
titre, il investira en permanence plus de 50 % de ses actifs en actions au sens de l’Article 2, paragraphe 8 de la Loi allemande sur la fiscalité des investissements.

#### Enregistrement à Hong Kong
Ce Compartiment est enregistré à la vente à Hong Kong.

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 50 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.
En utilisant des IFD à des fins de GEP, le Compartiment peut obtenir une exposition indirecte aux indices financiers.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables sont fournis aux rubriques
« Annexe III – Gestion des Garanties », « Annexe III –
Recours à des contrats mise/prise en pension et des
accords de prêt de titres », « Gestion efficace de portefeuille » et « Facteurs de risques » du Prospectus.

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 £ ou 1 € selon la devise de la catégorie concernée (majoré, le cas échéant, de la
commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés le 31 décembre de chaque année.
Concernant les détenteurs d’Actions de distribution, les
dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Small Cap Euroland Fund

### SUPPLÉMENT 2, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci-après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- La Valeur liquidative du Compartiment peut faire l’objet d’une volatilité élevée en raison de sa politique d’investissement.


#### Gestionnaire de portefeuille
Newton Investment Management North America LLC

#### Devise de référence
Euro

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les
tableaux ci-après et se différencient par leur devise de référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro A | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| USD A | USD | 5 000 | 5 % | 2,00 % | 0 % |

| Actions « B » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro B | EUR | 10 000 | 5 % | 1,50 % | 0 % |

| Actions « G » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 1,00 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro C | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD I (Cap.) (couverte) | USD | 5 000 000 | 5 % | 1,00 % | 0 % |

| Actions « W » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |

| Actions « X » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à assurer l’appréciation du capital à long terme en investissant principalement, c’est-à-dire au moins 90 % de ses actifs, dans un portefeuille d’actions et titres apparentés de sociétés de petite
capitalisation implantées dans des pays dont la devise est l’euro (« Pays de la zone euro »).

##### Politique d’investissement
Le Compartiment vise à assurer l’appréciation du capital à long terme en investissant principalement (c’est-à-dire au moins 90 % de sa Valeur liquidative) dans un portefeuille d’actions et titres apparentés de sociétés de
petite capitalisation implantées dans des Pays de la zone
euro. Ces titres incluent des actions ordinaires et privilégiées, des bons de souscription (jusqu’à 10 % au plus de la Valeur liquidative du Compartiment), des droits de souscription d’actions, des titres convertibles, des certificats représentatifs de titres et, à des fins de
gestion efficace de portefeuille, des contrats à terme standardisés indexés sur actions.
Le Compartiment est également habilité à investir 10 % de sa Valeur liquidative dans les actions et titres apparentés de sociétés à faible capitalisation implantées dans des pays européens qui ne font actuellement pas partie des Pays de la zone euro (voir « Pays approuvés »).
Le Compartiment investira dans des titres d’entreprises dont la capitalisation boursière totale est semblable à celle des entreprises qui constituent l’indice S&P EuroZone SmallCap TR Index (l’« Indice de référence ») ou
tout autre indice semblable que le Gestionnaire de
portefeuille pourra sélectionner de temps à autre.
En outre, le Compartiment n’investira pas plus de 10 % de sa Valeur liquidative globale dans des organismes de placement collectif.
Les titres dans lesquels le Compartiment investira seront cotés sur des Marchés éligibles.
Pays approuvés
À l’heure actuelle, le Compartiment peut investir dans tout pays inclus dans l’Indice de référence. Les investissements non inclus dans l’Indice de référence sont autorisés à hauteur de 10 % au plus de la Valeur liquidative du Compartiment afin de permettre l’inclusion
ou le retrait éventuel du pays concerné de l’Indice de référence dans les Pays de la zone euro. En d’autres
termes, le Compartiment investira au moins 90 % de sa Valeur liquidative dans des pays inclus dans l’Indice de référence.
Politique de diversification géographique
Le Compartiment se consacrera à la sélection individuelle de titres plutôt qu’à toute tentative de prédiction des pays susceptibles de réaliser de bonnes performances.
Toutefois, l’allocation géographique du Compartiment est susceptible de différer de l’Indice de référence en raison du processus de sélection de titres. L’écart maximal par rapport à l’Indice de référence devrait être de l’ordre de
5 %.
- En règle générale, le Compartiment couvre autant de pays que l’Indice de référence.

Politique de diversification sectorielle
Le Compartiment se consacrera à la sélection individuelle de titres plutôt qu’à toute tentative de prédiction des secteurs susceptibles de réaliser de bonnes
performances. Toutefois, l’affectation sectorielle du Compartiment est susceptible de différer de l’Indice de référence en raison du processus de sélection de titres. L’écart maximal par rapport à l’Indice de référence devrait être de l’ordre de 5 %.
- En règle générale, le Compartiment couvre autant de secteurs que l’Indice de référence.
- En règle générale, la pondération d’un secteur donné ne dépasse pas 30 %.

Processus de sélection des titres
- Le processus de sélection de titres du Compartiment est conçu pour obtenir un portefeuille diversifié qui, par rapport à l’Indice de référence, se caractérise parune valorisation inférieure et une tendance decroissance des bénéfices supérieure. Le Compartiment utilisera des modèles quantitatifs exclusifs pour identifier les titres intéressants, ainsique des outils traditionnels d’analyse qualitative pourprocéder à leur sélection.
- Le Compartiment est autorisé à faire l’acquisition de titres que les modèles n’auraient pas permis d’identifier, mais que les analystes auraient jugés intéressants pour la maîtrise du risque duportefeuille ou la recherche d’alpha. Le Compartiment est autorisé à regrouper des titres dans des micro-univers englobant des entreprises semblables afin de faciliter les comparaisons.

Positions de liquidités
Le Compartiment vise à rester entièrement investi en
toutes circonstances et à maintenir des positions de liquidités modestes, en tant qu’actifs liquides à titre accessoire, ne dépassant généralement pas 5 %.
Toutefois, en période de souscriptions exceptionnellement élevées, la position de liquidités peut excéder ce niveau pour une courte durée, à hauteur de 10 % au plus.
Couverture du risque de change
Le Compartiment n’a pas l’intention de prendre activement des positions de change. Les soldes en devise
étrangère seront convertis dans la devise de référence selon les opérations. La couverture croisée du risque de
change est autorisée, sous réserve qu’elle ne se traduise
pas par des positions à découvert après comptabilisation des actifs sous-jacents. Il est prévu de ne recourir à une
couverture croisée du risque de change que dans des circonstances exceptionnelles et par l’intermédiaire de contrats de change à terme.

##### Indice de référence
L’indice S&P EuroZone SmallCap TR Index (l’« Indice de référence »).
L’Indice de Référence fait partie intégrante de la gamme S&P Developed SmallCap Index. Cet Indice de référence
représente, sur une base de pays à pays parmi les membres de la zone euro, la première tranche de 15 % du capital disponible cumulé du S&P Developed Broad Market Index.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que le Gestionnaire de portefeuille a tout pouvoir pour investir
en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement. Bien que la majorité des participations du Compartiment doivent être des composantes de l’Indice de référence et
avoir des pondérations similaires à celles de ce dernier, la stratégie d’investissement ne restreint pas la mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.

##### Stratégie d’investissement
Le Compartiment applique une stratégie d’investissement axée sur la recherche qui combine les atouts des
capacités fondamentales et quantitatives afin de générer des résultats grâce à une sélection de titres ascendante. Cette approche se distingue par un portefeuille présentant une forte part active et un positionnement de base reposant sur la méthode dite « barbell », dans laquelle le Gestionnaire de portefeuille équilibre les éléments de croissance de la valeur et de la qualité au
niveau du portefeuille plutôt qu’au niveau du titre. L’élément qui unifie le processus est une gestion des risques systématique, exécutée chaque jour, chaque
semaine et chaque mois, afin de garantir un portefeuille équilibré capable de générer en permanence un profil de rendement relatif intéressant.
Le positionnement de base ultime du portefeuille est obtenu par une combinaison soigneuse de titres orientés valeur et de titres orientés croissance. La stratégie
n’essaie pas de créer un portefeuille dans lequel tous les
titres présentent les mêmes caractéristiques
fondamentales, à savoir une légère décote associée à un
potentiel de croissance des revenus supérieur au marché. Le Gestionnaire de portefeuille reconnaît que, au fil d’un cycle de marché complet, les idées combinant l’ensemble des éléments d’intérêt, décote et fort potentiel de croissance relative des revenus, seront plus ou moins
nombreuses. En conséquence, le Gestionnaire de portefeuille ne se limite pas aux titres intrinsèquement
« core » ; il équilibre le portefeuille en combinant les meilleures opportunités de valeur disponibles et les meilleures idées en termes de croissance de la qualité ou de dynamisme.
La stratégie du Compartiment est axée sur le revenu, orientée par la recherche et sensible au risque. La
philosophie d’investissement consiste à ajouter de la
valeur en combinant valeur relative et croissance relative.
La sélection des titres est la pierre angulaire de la philosophie d’investissement.
Accent mis sur les revenus : le Gestionnaire de
portefeuille est convaincu que, sur le long terme, les cours de l’action suivront la croissance des revenus de la société cotée. Nous investissons dans des sociétés qui
montent en puissance et dont les revenus sont sous- évalués.
Sélection basée sur la recherche : les techniques de recherche fondamentale et quantitative sont essentielles pour identifier les valorisations intéressantes et les dynamiques commerciales positives. Le Gestionnaire de portefeuille estime que le meilleur moyen de générer de la valeur consiste à utiliser nos capacités de recherche mondiales. Nous avons recours à une gamme étendue de
modèles informatiques exclusifs et tirons parti de l’expertise de nos analystes. La recherche vise à identifier les surprises qui influeront sur les marchés et
les titres.
Récurrence : le Gestionnaire de portefeuille estime que les facteurs récurrents aboutissant à la surperformance de la sélection des titres sont les suivants :
- Une dynamique commerciale positive
- Une valorisation intéressanteLimite de la prise de risques : le Gestionnaire de portefeuille s’efforce de dégager de solides rendements ajustés du risque en limitant la prise de risques involontaires. En appliquant l’erreur de suivi aux risques propres aux titres, le Gestionnaire de portefeuille espèresurclasser en permanence la Valeur de référence, indépendamment de l’environnement de marché.


##### Règlement sur la publication d’informations en matière de finance durable
La gestion du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque
en matière de durabilité associé aux investissements sous-jacents, il évalue le risque qu’un événement ou une condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Dans le cadre de son processus de recherche de titres ascendant, le Gestionnaire de portefeuille évalue les facteurs environnementaux, sociaux et de gouvernance de chaque investissement du portefeuille afin de déterminer les risques potentiels en matière de
durabilité. Ces facteurs peuvent inclure, sans toutefois s’y limiter, un impact des émetteurs sur l’environnement, y compris les émissions, l’utilisation des sols et les pratiques en matière de déchets, ainsi que les politiques et pratiques sociales d’un émetteur, dont les questions
relatives aux employés, les pratiques de gestion de la chaîne d’approvisionnement et les politiques relatives aux droits de l’homme. La recherche sur le crédit interne du Gestionnaire de portefeuille inclut des ressources telles
que le score ESG établi par le Gestionnaire de portefeuille, et est complétée par des informations en provenance de tiers, notamment les données et notations ESG de MSCI, les données ESG de Bloomberg, le Guide
d’engagement du Sustainability Accounting Standards
Board (SASB), les rapports des agences de notation de
crédit, les études sell-side et les événements relatifs au secteur concerné. Cette étude des risques en matière de durabilité est prise en compte dans le processus de sélection de titres, de même que la recherche
macroéconomique et l’analyse de crédit menées par le
Gestionnaire de portefeuille.
Le Gestionnaire de portefeuille évalue également les
pratiques de gouvernance des émetteurs par le biais d’une recherche fondamentale, complétée par des évaluations et notations de tiers, notamment en ce qui
concerne de saines structures de direction, les relations avec les employés, la rémunération du personnel et la conformité en matière de fiscalité.
Le Gestionnaire de portefeuille contrôle régulièrement les facteurs de durabilité et les expositions au risque en examinant les rapports de notation ESG de tiers et ceux établis en interne par son équipe.
Comme expliqué ci-dessus, la gestion et l’évaluation des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours possible qu’un Événement ESG ait une incidence négative
importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences
négatives des décisions d’investissement sur les facteurs
de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du
régime en matière de reporting. Le Gestionnaire continue d’analyser les données disponibles qui seraient nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Enregistrement en Allemagne
Ce Compartiment est enregistré à la vente en Allemagne. Le Compartiment est classé en tant que Fonds
d’investissement aux fins de l’impôt allemand et, à ce
titre, il investira en permanence plus de 50 % de ses actifs en actions au sens de l’Article 2, paragraphe 8 de la Loi allemande sur la fiscalité des investissements.

#### Enregistrement à Hong Kong
Ce Compartiment est enregistré à la vente à Hong Kong.

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 50 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés,
options, swaps, contrats sur différence, titres avec IFD intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.
En utilisant des IFD à des fins de GEP, le Compartiment peut obtenir une exposition indirecte aux indices financiers.
Les opérations de couverture du risque de change croisées sont autorisées, sous réserve qu’elles ne se traduisent pas par des positions à découvert après
comptabilisation des actifs sous-jacents. Il est prévu de ne recourir à une couverture croisée du risque de change
que dans des circonstances exceptionnelles et par l’intermédiaire de contrats de change à terme.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la
contrepartie sont fournis aux rubriques du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra
automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 £ ou 1 € selon la devise de la catégorie concernée (majoré, le cas échéant, de la
commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés le 31 décembre de chaque année.
Concernant les détenteurs d’Actions de distribution, les
dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Global Bond Fund

### SUPPLÉMENT 3, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. L’utilisation d’IFD à des fins d’investissement sera limitée. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».


#### Gestionnaire de portefeuille
Newton Investment Management Limited

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les
tableaux ci-après et se différencient par leur devise de référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro A | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| USD A | USD | 5 000 | 5 % | 1,00 % | 0 % |
| Euro H (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |

| Actions « B » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD B | USD | 10 000 | 5 % | 0,85 % | 0 % |

| Actions « G » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 0,50 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 0,50 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 0,50 % | 0 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 0,50 % | 0 % |
| Sterling G (Cap.) | GBP | 5 000 | 5 % | 0,50 % | 0 % |
| Sterling G (Dist.) | GBP | 5 000 | 5 % | 0,50 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro C | EUR | 5 000 000 | 5 % | 0,50 % | 0 % |
| USD C | USD | 5 000 000 | 5 % | 0,50 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 0,50 % | 0 % |
| Sterling C (Dist.) | GBP | 5 000 000 | 5 % | 0,50 % | 0 % |
| Sterling C (Cap.) | GBP | 5 000 000 | 5 % | 0,50 % | 0 % |
| Euro I (couverte) | EUR | 5 000 000 | 5 % | 0,50 % | 0 % |
| AUD I (Cap.) (couverte) | AUD | 5 000 000 | 5 % | 0,50 % | 0 % |
| AUD I (Dist.) (couverte) | AUD | 5 000 000 | 5 % | 0,50 % | 0 % |

| Actions « W » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,40 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,40 % | 0 % |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,40 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,40 % | 0 % |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,40 % | 0 % |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,40 % | 0 % |
| CHF W (Cap.) | CHF | 15 000 000 | 5 % | 0,40 % | 0 % |
| CHF W (Dist.) | CHF | 15 000 000 | 5 % | 0,40 % | 0 % |
| EUR W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,40 % | 0 % |
| EUR W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,40 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,40 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,40 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,40 % | 0 % |
| CHF W (Dist.) (couverte) | CHF | 15 000 000 | 5 % | 0,40 % | 0 % |

| Actions « Z » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Sterling Z (Cap.) (couverte) | GBP | 200 000 000 | 5 % | 0,30 % | 0 % |
| Sterling Z (Dist.) (couverte) | GBP | 200 000 000 | 5 % | 0,30 % | 0 % |

| Actions « X » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| USD X | USD | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à maximiser le rendement total en termes de revenus et d’appréciation du capital en investissant principalement (c’est-à-dire au moins 90 %
de ses actifs) dans un portefeuille composé de titres de créance et apparentés d’État, d’agence gouvernementale, d’institution internationale, d’entreprise, de banque et de titres adossés à des actifs, ainsi que dans des produits
dérivés.

##### Politique d’investissement
Le Compartiment investira principalement, c’est-à-dire au moins 90 % de sa Valeur liquidative, dans un portefeuille d’obligations d’État, d’entité souveraine, d’agence supranationale, d’entreprise, de banque et autres (y
compris les obligations hypothécaires et les obligations d’entreprise), et d’autres titres de créance et apparentés (tels que des débentures, des billets (y compris des
billets émis par des sociétés ou des entités souveraines, à taux variable et fixe, à échéance d’un an minimum), des titres adossés à des actifs et à des créances
hypothécaires, des certificats de dépôt, des billets de trésorerie, des certificats représentatifs de titres américains et/ou internationaux), cotés ou négociés sur un Marché éligible situé dans tout pays du monde et dans des IFD.
Pas plus de 10 % de la Valeur liquidative du Compartiment seront cotés ou négociés sur des Marchés éligibles de pays émergents.
La notation de crédit minimum des instruments de créance et apparentés dans lesquels le Compartiment
peut investir au moment de l’achat est BBB- (ou son équivalent), telle qu’attribuée par une Agence de notation reconnue. En cas d’une divergence de notation, la
notation la plus élevée sera prise en considération. Si un instrument n’est pas noté, il doit être de qualité équivalente à celle déterminée par le Gestionnaire de
portefeuille.
En outre, le Compartiment n’investira pas plus de 10 % de sa Valeur liquidative globale dans des organismes de placement collectif.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des titres de créance et apparentés en République populaire de Chine (« RPC ») négociés sur le
marché obligataire interbancaire chinois (« CIBM ») via le
programme Bond Connect (décrit plus en détail à l’Annexe VI du Prospectus).

##### Indice de référence
L’indice JP Morgan Global GBI Unhedged TR Index (l’« Indice de référence »).
L’Indice de référence est un indice obligataire représentatif des obligations d’État à taux fixe. Les indices Global Bond Income reflètent généralement les
émissions à taux fixe de pays à revenu élevé se trouvant en Amérique du Nord, en Europe et en Asie.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que le Gestionnaire de portefeuille a tout pouvoir pour investir
en dehors des composantes de l’Indice de référence sur
la base de l’objectif et de la politique d’investissement. Bien que les avoirs du Compartiment puissent inclure des composantes de l’Indice de référence, la sélection des placements et leurs pondérations dans le portefeuille ne
sont pas influencées par celles de l’Indice de référence. La stratégie d’investissement ne restreint pas la mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.

##### Stratégie d’investissement
La philosophie d’investissement est basée sur la conviction du Gestionnaire de portefeuille qu’aucune société, aucun marché ni aucune économie ne peuvent
être considérés isolément, chacun de ces éléments devant être examiné dans un contexte global. Le Gestionnaire de portefeuille estime que les événements
qui surviennent dans le monde influent sur tous les marchés financiers et qu’un investissement réussi dans des obligations mondiales implique par conséquent de
bien comprendre le monde dans son ensemble.
Le Gestionnaire de portefeuille identifie les thèmes qui touchent à des changements majeurs au niveau international et les utilise pour étayer ses idées
d’investissement. Cette approche thématique mondiale permet au Gestionnaire de portefeuille d’acquérir une perspective à long terme sur les marchés financiers et
les économies du monde entier, en gardant toujours une vision d’ensemble. La perspective est une caractéristique essentielle du processus d’investissement. Elle permet d’anticiper les évolutions à l’échelle mondiale et oriente les analystes et gestionnaires de portefeuille vers les
opportunités rentables.
L’approche du gestionnaire de portefeuille pour gérer ses portefeuilles d’obligations mondiales consiste à identifier les thèmes influant sur les marchés obligataires et des
devises, à sélectionner les actifs qui en bénéficieront et à investir pour générer des rendements positifs. En
général, les principaux facteurs de performance sont la duration du portefeuille, le positionnement de la courbe
de rendement, la devise et l’allocation pays.

##### Règlement sur la publication d’informations en matière de finance durable
La prise en compte du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents, il évalue le risque qu’un événement ou une
condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Le Gestionnaire de portefeuille a accès à diverses catégories de données ESG fournies par des tiers, qui
permettent d’identifier les problèmes ESG potentiels
auxquels un émetteur peut être confronté. Cela inclut, entre autres, l’exposition à des activités pouvant être considérées comme nocives pour l’environnement ou la société. Ces données, ainsi que celles obtenues par le
Gestionnaire de portefeuille dans le cadre de sa propre recherche sur l’investissement responsable, constituent une part importante de la prise en compte et de l’évaluation du niveau de risque en matière de durabilité auquel un investissement peut être soumis.
Cette évaluation est intégrée au processus de recherche au niveau des titres, qui repose sur l’analyse fondamentale des opportunités d’investissement individuelles à travers un certain nombre de facteurs
différents, notamment :
- les caractéristiques financières ou économiques fondamentales ;
- l’évaluation ;
- le profil risque/rendement ; et
- les caractéristiques ESG de l’émetteur, y compris la compréhension de la manière dont cesconsidérations peuvent avoir un impact sur les rendements économiques.

Le Gestionnaire de portefeuille tiendra compte des informations recueillies à partir de l’analyse fondamentale dans sa décision d’acquérir une participation dans une société émettrice ou de conserver
une position donnée.
Comme expliqué ci-dessus, l’évaluation et la gestion des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours
possible qu’un Événement ESG ait une incidence négative importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du régime des principales incidences négatives prévu à
l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire
soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs
de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins
d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur obligation d’État Contrats à terme standardisés sur devises Contrats à terme standardisés sur le marché monétaire |
| --- | --- |

| Options | Options sur contrats à terme standardisés d’obligation d’État Options sur contrats à terme standardisés de devises Options sur devises (y compris options de change) |
| --- | --- |
| Contrats à terme (livra- bles et non livrables) | Contrats de change à terme |
| Swaps | Swaps de défaut de crédit (sur valeur individuelle, indice et panier personnalisé) |
| Titres avec IFD intégrés/effet de levier | Titres adossés à des actifs (ABS) et Titres adossés à des créances hypothécaires (MBS) : |

Une liste des Marchés éligibles sur lesquels des IFD peuvent être cotés ou négociés est exposée à l’Annexe II du Prospectus.
De plus amples informations concernant l’utilisation d’IFD à des fins de gestion efficace de portefeuille et d’investissement, y compris à des fins commerciales, figurent dans la section du Prospectus intitulée « La Société – Techniques et instruments financiers dérivés ». De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent dans la rubrique du
Prospectus intitulée « Facteurs de risque – Risques liés
aux valeurs mobilières, IFD et autres techniques ».

#### Enregistrement à Hong Kong
Ce Compartiment est enregistré à la vente à Hong Kong.

#### Enregistrement à Taïwan
Ce Compartiment est enregistré à la vente à Taïwan. Les restrictions d’investissement suivantes, qui peuvent être modifiées à tout moment, s’appliquent aux Compartiments enregistrés à la vente à Taïwan.
- Lorsque le Compartiment investit sur les marchés de titres chinois, seuls les titres cotés et le marché obligataire interbancaire peuvent être visés directement ou indirectement et le pourcentage total ne peut excéder 20 % de sa Valeur liquidative. Les« marchés de titres chinois » désignent les titres disponibles sur tout marché boursier ou sur le marché obligataire interbancaire de Chinecontinentale ; Hong Kong et Macao ne sont pas inclus. Veuillez vous référer à l’Annexe II pour une liste des marchés éligibles, y compris ceux situés enChine continentale.


#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 40 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins
de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la
contrepartie sont fournis aux rubriques du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 £ ou 1 €, 1 CHF ou 1 AUD selon la devise de la catégorie concernée (majoré, le cas échéant,
de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas de la catégorie d’actions « USD C (Dist.) », les dividendes seront normalement déclarés trimestriellement, les 31 décembre, 31 mars, 30 juin et
30 septembre, et versés au plus tard les 11 février, 11 mai, 11 août et 11 novembre.
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), sauf pour la catégorie d’actions USD C (Dist.), les dividendes seront normalement déclarés chaque semestre, le 30 juin et le 31 décembre. Concernant les détenteurs d’Actions de distribution, les dividendes déclarés leur seront
normalement versés au plus tard le 11 août et le
11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Global Equity Fund

### SUPPLÉMENT 4, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci-après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Newton Investment Management Limited

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les
tableaux ci-après et se différencient par leur devise de référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro A | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| USD A | USD | 5 000 | 5 % | 2,00 % | 0 % |

| Actions « B » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD B | USD | 10 000 | 5 % | 1,50 % | 0 % |
| Euro B | EUR | 10 000 | 5 % | 1,50 % | 0 % |

| Actions « G » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro C | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| AUD I (Cap.) (couverte) | AUD | 5 000 000 | 5 % | 1,00 % | 0 % |

| Actions « W » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,75 % | 0 % |

| Actions « X » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à assurer l’appréciation du capital à long terme en investissant principalement (c’est-à-dire au moins deux tiers de ses actifs) dans un portefeuille d’actions de sociétés du monde entier. Un tiers au plus
des actifs du Compartiment pourra être investi dans un
portefeuille de titres apparentés à des actions ou de titres de créances de sociétés situées dans le monde entier.

##### Politique d’investissement
Le Compartiment investira principalement, c’est-à-dire au moins les deux tiers de sa Valeur liquidative, dans un portefeuille d’actions de sociétés du monde entier.
Un tiers au plus de la Valeur liquidative du Compartiment pourra être investi dans un portefeuille de titres apparentés à des actions, y compris des obligations convertibles (généralement non notées) des actions privilégiées convertibles et des bons de souscription
(jusqu’à 10 % de la Valeur liquidative du Compartiment
dans le cas des bons de souscription), de sociétés
situées dans le monde entier ou dans des obligations d’émetteurs internationaux souverains, d’États, d’agences supranationales, de sociétés, de banques et d’obligations autres (y compris les obligations hypothécaires et les obligations d’entreprise) et d’autres titres de créance et
apparentés (tels que des débentures, des billets (y
compris des billets émis par des sociétés ou des entités souveraines, à taux variable ou fixe, à échéance d’un an minimum), des titres adossés à des actifs ou à des
créances hypothécaires, des certificats de dépôt, des billets de trésorerie et des certificats représentatifs de titres américains ou internationaux) cotés ou négociés sur un Marché éligible dans le monde entier.
La notation de crédit minimum des titres de créance et
apparentés dans lesquels le Compartiment peut investir est BBB- (ou son équivalent), telle qu’attribuée par une Agence de notation reconnue. En cas d’une divergence de notation, la notation la plus élevée sera prise en
considération. Si un instrument n’est pas noté, il doit être
de qualité équivalente à celle déterminée par le
Gestionnaire de portefeuille.
Le Compartiment investit à l’échelle mondiale et, bien qu’il n’ait pas d’orientation géographique, industrielle ou sectorielle privilégiée, il peut parfois se concentrer sur
des industries, des secteurs ou des pays particuliers, dont les États-Unis.
L’achat d’actions A chinoises via le Stock Connect est l’une des méthodes utilisées par le Compartiment pour acquérir une exposition aux titres chinois. Le Compartiment peut investir jusqu’à 10 % de sa Valeur
liquidative dans des actions chinoises de classe A par le
biais du Stock Connect. Le programme Stock Connect est présenté plus en détail dans l’Annexe V du Prospectus.
Une liste des Marchés éligibles sur lesquels des IFD peuvent être cotés ou négociés est exposée à l’Annexe II du Prospectus.
En outre, le Compartiment n’investira pas plus de 10 % de sa Valeur liquidative globale dans des organismes de placement collectif.

##### Indice de référence
L’indice MSCI AC World NR Index (l’« Indice de référence »).
L’Indice de référence est un indicateur exhaustif des performances du marché d’actions mondial, qui intègre des fortes et moyennes capitalisations représentatives
des marchés développés et des marchés émergents. Avec plus de 2 000 composantes, il couvre approximativement
85 % des possibilités d’investissement en actions sur la scène mondiale. L’indice de référence applique une approche exhaustive et cohérente qui permet d’avoir un aperçu global très pertinent et d’établir des
comparaisons entre régions de toutes les tailles de
capitalisation boursière, de tous les segments et
combinaisons sectorielles et de style. Cette méthodologie vise à couvrir de manière exhaustive l’ensemble des opportunités en mettant fortement l’accent sur la liquidité, l’investissabilité et la réplicabilité de l’indice.
L’Indice de référence est rééquilibré tous les trimestres afin de refléter l’évolution des marchés d’actions sous-
jacents, tout en limitant toute rotation injustifiée.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que le Gestionnaire de portefeuille a tout pouvoir pour investir
en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement. Bien que les avoirs du Compartiment puissent inclure des composantes de l’Indice de référence, la sélection des
placements et leurs pondérations dans le portefeuille ne sont pas influencées par celles de l’Indice de référence. La stratégie d’investissement ne restreint pas la mesure
dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.

##### Stratégie d’investissement
La philosophie d’investissement est basée sur la conviction du Gestionnaire de portefeuille qu’aucune société, aucun marché ni aucune économie ne peuvent
être considérés isolément, chacun de ces éléments devant être examiné dans un contexte global. Le Gestionnaire de portefeuille estime que les événements qui surviennent dans le monde influent sur tous les
marchés financiers et qu’un investissement réussi dans
des actions mondiales implique par conséquent de bien
comprendre le monde dans son ensemble.
Le Gestionnaire de portefeuille identifie les thèmes qui touchent à des changements majeurs au niveau
international et les utilise pour étayer nos idées d’investissement. Cette approche thématique mondiale permet au Gestionnaire de portefeuille d’acquérir une perspective à long terme sur les marchés financiers et
les économies du monde entier, en gardant toujours une vision d’ensemble. La perspective est une caractéristique essentielle du processus d’investissement, car elle permet d’anticiper les évolutions à l’échelle mondiale et oriente les analystes et gestionnaires de portefeuille vers
les opportunités rentables.
Les portefeuilles d’actions mondiales ont été construits d’après cette vision globale, au moyen du processus d’investissement axé sur la recherche ascendante menée par le Gestionnaire de portefeuille. Ils ne suivent pas un style d’investissement axé exclusivement sur la valeur ou la croissance ; ils se concentrent au contraire sur les
actions de sociétés à la valorisation intéressante qui offrent de bonnes perspectives et de solides fondamentaux.

##### Règlement sur la publication d’informations en matière de finance durable
La prise en compte du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents, il évalue le risque qu’un événement ou une
condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Le Gestionnaire de portefeuille a accès à diverses catégories de données ESG fournies par des tiers, qui
permettent d’identifier les problèmes ESG potentiels
auxquels un émetteur peut être confronté. Cela inclut, entre autres, l’exposition à des activités pouvant être considérées comme nocives pour l’environnement ou la société. Ces données, ainsi que celles obtenues par le
Gestionnaire de portefeuille dans le cadre de sa propre recherche sur l’investissement responsable, constituent une part importante de la prise en compte et de l’évaluation du niveau de risque en matière de durabilité auquel un investissement peut être soumis.
Cette évaluation est intégrée au processus de recherche au niveau des titres, qui repose sur l’analyse fondamentale des opportunités d’investissement individuelles à travers un certain nombre de facteurs
différents, notamment :
- les caractéristiques financières ou économiques fondamentales ;
- l’évaluation ;
- le profil risque/rendement ; et
- les caractéristiques ESG de l’émetteur, y compris la compréhension de la manière dont ces considérations peuvent avoir un impact sur lesrendements économiques.

Le Gestionnaire de portefeuille tiendra compte des informations recueillies à partir de l’analyse fondamentale dans sa décision d’acquérir une participation dans une société émettrice ou de conserver
une position donnée.
Comme expliqué ci-dessus, l’évaluation et la gestion des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours
possible qu’un Événement ESG ait une incidence négative importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure
actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Enregistrement en Allemagne
Ce Compartiment est enregistré à la vente en Allemagne.
Le Compartiment est classé en tant que Fonds d’investissement aux fins de l’impôt allemand et, à ce titre, il investira en permanence plus de 50 % de ses actifs en actions au sens de l’Article 2, paragraphe 8 de la Loi allemande sur la fiscalité des investissements.

#### Enregistrement à Hong Kong
Ce Compartiment est enregistré à la vente à Hong Kong.

#### Enregistrement à Taïwan
Ce Compartiment est enregistré à la vente à Taïwan. Les restrictions d’investissement suivantes, qui peuvent être modifiées à tout moment, s’appliquent aux Compartiments enregistrés à la vente à Taïwan.
- Lorsque le Compartiment investit sur les marchés de titres chinois, seuls les titres cotés et le marché obligataire interbancaire peuvent être visés directement ou indirectement et le pourcentage total ne peut excéder 20 % de sa Valeur liquidative. Les« marchés de titres chinois » désignent les titres disponibles sur tout marché boursier ou sur le marché obligataire interbancaire de Chinecontinentale ; Hong Kong et Macao ne sont pas inclus. Veuillez vous référer à l’Annexe II pour une liste des marchés éligibles, y compris ceux situés enChine continentale.
- En tant que Compartiment d’actions enregistré à Taïwan, le Compartiment doit investir au moins 70 % de sa Valeur liquidative dans des actions.


#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 40 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés,
options, swaps, contrats sur différence, titres avec IFD intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale.
En utilisant des IFD à des fins de GEP, le Compartiment peut obtenir une exposition indirecte aux indices financiers.
Veuillez consulter la section du Prospectus intitulée « La Société – Gestion efficace de portefeuille » pour de plus amples informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux
OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 £, 1 € ou 1 AUD selon la devise de la
catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés le 31 décembre de chaque année.
Concernant les détenteurs d’Actions de distribution, les
dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Global High Yield Bond Fund

### SUPPLÉMENT 5, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Les commissions de gestion et autres frais du Compartiment seront imputés au capital du Compartiment en vue de maximiser les distributions.

Veuillez consulter la section « Commissions et
frais » dans le Prospectus pour plus d’informations. Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.

#### Gestionnaire de portefeuille
Alcentra NY, LLC

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD A (Cap.) | USD | 5 000 | 5 % | 1,25 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 1,25 % | 0 % |
| USD A (Dist.) (M) | USD | 5 000 | 5 % | 1,25 % | 0 % |
| Euro A | EUR | 5 000 | 5 % | 1,25 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 1,25 % | 0 % |
| Sterling A (Cap.) | GBP | 5 000 | 5 % | 1,25 % | 0 % |
| Sterling A (Dist.) | GBP | 5 000 | 5 % | 1,25 % | 0 % |
| AUD A (Cap.) | AUD | 5 000 | 5 % | 1,25 % | 0 % |
| AUD A (Dist.) (M) | AUD | 5 000 | 5 % | 1,25 % | 0 % |
| CAD A (Cap.) | CAD | 5 000 | 5 % | 1,25 % | 0 % |
| CAD A (Dist.) (M) | CAD | 5 000 | 5 % | 1,25 % | 0 % |
| HKD A (Cap.) | HKD | 50 000 | 5 % | 1,25 % | 0 % |
| HKD A (Dist.) (M) | HKD | 50 000 | 5 % | 1,25 % | 0 % |
| CNH A (Cap.) | CNH | 50 000 | 5 % | 1,25 % | 0 % |
| CNH A (Dist.) (M) | CNH | 50 000 | 5 % | 1,25 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| SGD A (Cap.) | SGD | 5 000 | 5 % | 1,25 % | 0 % |
| SGD A (Dist.) (M) | SGD | 5 000 | 5 % | 1,25 % | 0 % |
| Euro H (couverte) | EUR | 5 000 | 5 % | 1,25 % | 0 % |
| Euro H (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,25 % | 0 % |
| Sterling H (Cap.) (couverte) | GBP | 5 000 | 5 % | 1,25 % | 0 % |
| Sterling H (Dist.) (couverte) | GBP | 5 000 | 5 % | 1,25 % | 0 % |
| AUD H (Cap.) (couverte) | AUD | 5 000 | 5 % | 1,25 % | 0 % |
| AUD H (Dist.) (couverte) (M) | AUD | 5 000 | 5 % | 1,25 % | 0 % |
| CAD H (Cap.) (couverte) | CAD | 5 000 | 5 % | 1,25 % | 0 % |
| CAD H (Dist.) (couverte) (M) | CAD | 5 000 | 5 % | 1,25 % | 0 % |
| HKD H (Cap.) (couverte) | HKD | 50 000 | 5 % | 1,25 % | 0 % |
| HKD H (Dist.) (couverte) (M) | HKD | 50 000 | 5 % | 1,25 % | 0 % |
| CNH H (Cap.) (couverte) | CNH | 50 000 | 5 % | 1,25 % | 0 % |
| CNH H (Dist.) (couverte) (M) | CNH | 50 000 | 5 % | 1,25 % | 0 % |
| SGD H (Cap.) (couverte) | SGD | 5 000 | 5 % | 1,25 % | 0 % |
| SGD H (Dist.) (couverte) | SGD | 5 000 | 5 % | 1,25 % | 0 % |
| SGD H (Dist.) (couverte) (M) | SGD | 5 000 | 5 % | 1,25 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD C | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro C | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling C (Dist.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling C (Cap.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling I (Cap.) (couverte) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling I (Dist.) (couverte) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| SGD I (Cap.) (couverte) | SGD | 5 000 000 | 5 % | 1,00 % | 0 % |
| SGD I (Dist.) (couverte) | SGD | 5 000 000 | 5 % | 1,00 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,50 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,50 % | 0 % |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,50 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,50 % | 0 % |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,50 % | 0 % |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,50 % | 0 % |
| HKD W (Dist.) (M) | HKD | 150 000 000 | 5 % | 0,50 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,50 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,50 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,50 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,50 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,50 % | 0 % |
| AUD W (Dist.) (couverte) (M) | AUD | 15 000 000 | 5 % | 0,50 % | 0 % |
| CAD W (Dist.) (couverte) (M) | CAD | 15 000 000 | 5 % | 0,50 % | 0 % |
| CNH W (Dist.) (couverte) (M) | CNH | 150 000 000 | 5 % | 0,50 % | 0 % |
| SGD W (Cap.) (couverte) | SGD | 15 000 000 | 5 % | 0,50 % | 0 % |
| SGD W (Dist.) (couverte) | SGD | 15 000 000 | 5 % | 0,50 % | 0 % |

| Actions « X » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| JPY X (Dist.) (couverte) | JPY | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à assurer un rendement total composé de revenus et de l’appréciation du capital à long terme en investissant principalement (c’est-à-dire au moins 80 % de ses actifs) dans un portefeuille largement
diversifié d’obligations à haut rendement et dans des
produits dérivés.

##### Politique d’investissement
Le Compartiment investira principalement, c’est-à-dire au moins 80 % de sa Valeur liquidative, dans un portefeuille largement diversifié d’obligations à haut rendement émises par des sociétés réparties dans le monde entier
et les IFD y afférents, qui offrent des rendements
corrigés du risque relativement intéressants. Les investissements en titres et IFD y afférents n’étant pas considérés comme à haut rendement sont limités à 20 %
de la valeur liquidative du Compartiment.
Les titres de créance et apparentés à taux fixe ou variable dans lesquels le Compartiment peut investir
incluent sans pour autant s’y limiter les titres suivants :
- 30 % ou plus de la Valeur liquidative dans chacun des types de titres suivants : Obligations d’entreprise pouvant être émises en tant que placements privés(telles que des obligations Reg S ou 144A), incluant les Obligations d’entreprise hybrides, les obligations dites « bullet » (intégralement remboursables àl’échéance), les obligations avec remboursement anticipé à l’option de l’émetteur (callable) ou à l’option du détenteur (puttable) et les billets detrésorerie à taux variable (« FRN », Floating RateNotes). Les obligations Reg S ou 144A sont des obligations émises par des sociétés cotées enBourse, mais ne pouvant être investies que par une certaine catégorie spécifique d’investisseurs : elles peuvent donc être vendues aux États-Unis à desinvestisseurs américains ou en dehors des États-Unisà des investisseurs étrangers et sont dispensées d’enregistrement auprès de la SEC. Afin de lever toute ambiguïté, les obligations Reg S ou 144Asélectionnées pour être investies par leCompartiment seront principalement des titres cotésou négociés sur des Marchés éligibles (dont la liste est présentée à l’Annexe II du Prospectus) et supposés être liquides ;
- jusqu’à 30 % de la Valeur liquidative dans chacun des types de titres suivants : Euro-obligations,Obligations à coupon zéro, obligations émises par des organismes d’État ou des agences gouvernementales (comme le Trésor américain et les Obligations municipales), Obligations d’agence (telles que les titres adossés à des créances hypothécaires émis parune agence gouvernementale), Obligations perpétuelles et Obligations négociées en Bourse (« ETN », Exchange Traded Notes) ;
- jusqu’à 25 % de sa Valeur liquidative en Obligations convertibles (dont les Obligations à conversion obligatoire) ;
- jusqu’à 20 % de sa Valeur liquidative en instruments du marché monétaire (tels que les acceptationsbancaires, les billets de trésorerie et les certificats de dépôt) ;
- jusqu’à 15 % de sa Valeur liquidative dans l’ensemble des Titres adossés à des créances hypothécaires(MBS) (y compris les Obligations garanties par des créances hypothécaires [« CMO »]) et des Titres adossés à des actifs (ABS) (y compris les Obligations adossées à des créances [« CDO »] et les Obligations garanties par des prêts [« CLO »]) ;
- jusqu’à 10 % de sa Valeur liquidative dans chacun des types d’actifs suivants : Obligations avec paiement en nature, Obligations à taux progressif,Obligations toggle, Obligations Yankee, Titres de créance amortissables et des Titres à intérêts reportables (c.-à-d. des Titres privilégiés de fiducies) ;
- jusqu’à 10 % de sa Valeur liquidative en Prêts (y compris les Prêts à effet de levier, les Participations sur prêts bancaires, les Cessions de prêt, les Prêtsamortissables et les Prêts syndiqués) qui constitueront les instruments du marché monétaire ; et
- jusqu’à 10 % de sa Valeur liquidative dans des CoCo. Veuillez consulter la section du Prospectus intitulée« Risque lié aux titres convertibles conditionnels (« CoCo ») pour plus de détails sur les risques associés aux CoCo.

Le Compartiment peut également investir dans des IFD de titres de créance et apparentés, comme indiqué à la
rubrique « Utilisation d’IFD » ci-dessous.
Le Compartiment peut également investir 10 % de sa Valeur liquidative dans des actions et titres apparentés, dont des actions ordinaires et des actions privilégiées,
des titres convertibles ou échangeables pour ce type d’actions (c.-à-d., des actions privilégiées convertibles), des bons de souscription, des OPC à capital variable (y
compris des fonds négociés en Bourse [« ETF »]), des sociétés d’investissement immobilier (« REIT », Real Estate Investment Trusts) et des IFD y afférents (tels qu’énumérés dans la section « Utilisation d’IFD » ci- dessous).
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans d’autres OPC à capital variable, y compris des fonds monétaires et des ETF à capital
variable.
Le Compartiment peut investir jusqu’à 30 % de sa Valeur liquidative dans des instruments de créance
subordonnés. Ces instruments incluent les CoCo, les titres de créance senior non privilégiés et les obligations
additionnelles/sous conditions d’investissement
restreintes (restricted) Tier 1, 2 ou 3.
–	Les obligations additionnelles/restricted Tier 1, 2 ou 3 sont des obligations d’entreprise émises par des sociétés financières telles que des banques et des compagnies d’assurance. Les obligations additionnelles/restricted Tier 1 représentent le
capital hybride le plus junior, les obligations Tier 2 le deuxième capital hybride le plus senior, tandis que les obligations Tier 3 représentent le capital hybride
le plus senior qu’une société financière peut émettre
sur le marché obligataire.
–	Les instruments de créance subordonnés sont des instruments ayant des caractéristiques dites
« d’absorption des dettes ». Ces instruments peuvent
être sujets à une dépréciation éventuelle ou à une
conversion en actions ordinaires susceptible de se produire lors de la survenance d’un ou d’événements donnés.
Veuillez consulter la section « Risque lié aux titres de créance subordonnés » dans le Prospectus pour plus de détails sur les risques associés aux titres de créance subordonnés.
Le Compartiment investira dans des obligations à haut rendement, qui sont des titres dont la notation de crédit est inférieure à investment grade (BB+ ou inférieure, ou son équivalent, tel que déterminé par une Agence de notation reconnue) ou non notés. Pas plus de 25 % de la
Valeur liquidative du Compartiment seront investis dans des titres dont, au moment de l’achat, la notation de crédit est inférieure à B- (ou son équivalent, tel que
déterminé par une Agence de notation reconnue) ou qui ne sont pas notés. Une obligation « non notée » est un
titre qui n’a pas fait l’objet d’une évaluation de crédit et qui n’a pas reçu de note de la part d’une agence de notation de crédit. La notation de crédit moyenne
minimale des titres de créance du Compartiment sera maintenue à B- (ou son équivalent), telle qu’attribuée par une Agence de notation reconnue.
À l’exception des investissements autorisés dans des titres non cotés et des OPC à capital variable, les
investissements du Compartiment seront cotés ou négociés sur des Marchés éligibles listés dans l’Annexe II du Prospectus.
Le Compartiment a l’intention d’investir à l’échelle mondiale (c.-à-d. que ses placements seront cotés ou négociés sur des Marchés éligibles à l’échelle mondiale). Par ailleurs, le Compartiment peut investir jusqu’à 30 %
de sa Valeur liquidative en titres émis par des sociétés
domiciliées dans des marchés émergents (dont la République populaire de Chine [« RPC »]) et négociés sur des marchés américains ou européens. Bien que le
Compartiment puisse construire une exposition à la Russie, il n’investira pas dans des titres négociés sur des marchés russes. Afin de lever toute ambiguïté, le Compartiment ne construira pas d‘exposition aux titres de créance négociés en RPC sur le marché obligataire
interbancaire chinois (« CIBM ») via le Bond Connect (ci- après décrit à l’Annexe VI au Prospectus).
Mises à part les dispositions ci-dessus, le Compartiment n’est soumis à aucune limitation quant à la part de sa Valeur liquidative pouvant être investie dans un pays ou
une région géographique. Néanmoins, le Compartiment
peut parfois se concentrer sur des régions géographiques ou pays particuliers en fonction de l’opportunité d’investissement identifiée par le Gestionnaire de portefeuille. Par exemple, le Compartiment peut parfois
investir une part importante de sa Valeur liquidative (c.- à-d. plus de 70 %) dans des obligations à haut rendement émises par des sociétés domiciliées aux États-Unis étant donné que les sociétés internationales (à savoir des sociétés exerçant une activité dite mondiale, autrement dit, qui réalisent des opérations ou disposent de clients dans le monde entier) émettrices
d’obligations à haut rendement ont souvent leur siège
social dans ce pays.
Bien que la devise de référence du Compartiment soit l’USD, le compartiment peut investir dans des actifs non libellés en USD qui seront couverts en USD par le biais d’IFD sur devises. Les IFD sur devises qui peuvent être utilisés par le Compartiment à des fins de couverture
sont décrits plus en détail dans le Prospectus, dans la section intitulée « Techniques et instruments financiers dérivés ».

##### Indice de référence
L’indice ICE BofA Developed Markets High Yield Constrained TR Index (couvert par rapport au dollar américain) (l’« Indice de référence »). L’Indice de référence reflète la performance de titres de créance d’entreprise de qualité inférieure à investment grade libellés en dollars américains, en dollars canadiens, en
livres sterling et en euros et émis sur les principaux marchés américains ou euro-obligataires. La pondération
de chaque composante de l’indice est plafonnée à 2 %. Des informations supplémentaires sur l’Indice de référence sont disponibles ici :
https://www.theice.com/market-data/indices/fixed- income-indices
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que le Gestionnaire de portefeuille a tout pouvoir pour investir
en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement. Bien que la majorité des participations du Compartiment doivent être des composantes de l’Indice de référence et
avoir des pondérations similaires à celles de ce dernier, la stratégie d’investissement ne restreint pas la mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.

##### Stratégie d’investissement
Le Compartiment investira principalement dans un portefeuille diversifié d’obligations à haut rendement et cherchera à identifier les opportunités d’investissement qui conjuguent un rendement courant intéressant avec
une forte probabilité de rendement de capital ultime. Le
Compartiment vise à fournir un rendement, mais aussi une protection contre la volatilité des taux d’intérêt en maintenant une duration faible et en offrant une
protection contre la perte de capital.
Le processus du Gestionnaire de portefeuille repose à la fois sur une vision descendante à une approche ascendante. Le processus implique une recherche de
crédit fondamentale et une analyse de marché ascendantes dans le but d’identifier et d’exploiter les
anomalies au sein des marchés d’instruments de financement à effet de levier. Le Gestionnaire de
portefeuille favorise les secteurs assortis de valorisations d’actifs intéressantes, ayant des environnements compétitifs stables et des barrières à l’entrée élevées. De plus, le Gestionnaire de portefeuille sélectionne les
émetteurs qui présentent selon lui un profil de crédit qualifié de « stable-à-progressant », une position concurrentielle solide, une certaine flexibilité financière et dont les actifs affichent une valorisation qualifiée de
« juste-à bon marché ». La valorisation est déterminée par une évaluation de l’actif par rapport à d’autres actifs au sein de la structure de capital de l’émetteur et par rapport à d’autres actifs du secteur et du marché.
Cette recherche de crédit fondamentale ascendante est rehaussée d’une approche descendante qui se compose de différentes mesures macro et de marché spécifiques,
qui incluent des perspectives économiques régionales, des perspectives sectorielles, l’orientation des taux d’intérêt et les perspectives de défaut.
Le processus d’investissement du Gestionnaire de portefeuille repose sur une étude préalable à la fois qualitative et quantitative, menée par une équipe
mondiale d’analystes aguerris et expérimentés qui cherchent à identifier les sources d’alpha (rendements excédentaires) au niveau du secteur, de l’émetteur et du
titre. Cette étude préalable inclut une évaluation de l’émetteur (caractéristiques de crédit, qualité de gestion de la société, flux de trésorerie disponibles, flexibilité
financière, part de marché, croissance du revenu, évolution des marges, accès au capital), mais aussi des réunions avec la direction générale et la participation à
des conférences sectorielles. L’équipe d’analystes du
Gestionnaire de portefeuille est organisée par secteur
industriel sur les marchés de FRN à haut rendement, de
prêts à taux fixe à haut rendement et de prêts à effet de levier et dispose en son sein d’une équipe indépendante dédiée au marché des CLO.
Le Gestionnaire de portefeuille organise un comité d’allocation d’actifs mensuel, qui fixe les objectifs d’allocation de chaque classe d’actifs et articule les thèmes d’investissement. Les thèmes d’investissement du Compartiment sont ensuite sélectionnés à l’issue de
discussions portant sur les thèmes pertinents eu égard à des classes d’actifs spécifiques, comme le statut de crédit des émetteurs, la dynamique de l’offre et la demande et les valorisations. Des thèmes macro sont
également pris en compte, comme la croissance spécifique à la région, l’inflation, les taux d’intérêt et les perspectives de taux de défaut. Les objectifs d’allocation des actifs sont modifiés sur la base de ces discussions et
de l’analyse de l’émetteur individuel menée par le
Gestionnaire de portefeuille.

##### Règlement sur la publication d’informations en matière de finance durable
La gestion du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque
en matière de durabilité associé aux investissements sous-jacents, il évalue le risque qu’un événement ou une condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
À l’aide de processus quantitatifs et qualitatifs, le risque en matière de durabilité est identifié, contrôlé et géré par le Gestionnaire de portefeuille de la manière suivante :
–	Avant d’acquérir des investissements pour le compte d’un Compartiment, l’univers d’investissement est filtré à l’aide de la politique d’exclusion sectorielle du Gestionnaire de portefeuille, selon laquelle les
investissements potentiels sont supprimés en fonction du secteur dans lequel ils sont opérés, par exemple les armes controversées. Lorsque le
Gestionnaire de portefeuille évalue une opportunité d’investissement, il effectue une analyse fondamentale holistique du risque de crédit de l’émetteur. Un élément clé de cette analyse est
l’évaluation de tout facteur ESG important susceptible d’avoir un impact négatif sur la solvabilité d’un émetteur. Le processus d’intégration des facteurs ESG commence par l’identification de l’exposition d’un émetteur aux risques ESG importants, suivie d’une évaluation de l’impact
financier potentiel de ces risques. Enfin, le Gestionnaire de portefeuille évalue l’engagement de l’émetteur à gérer l’exposition à des risques ESG importants. Étant donné les marchés auxquels le Compartiment est exposé, l’engagement actif des entreprises est l’outil le plus important et constitue la base de l’intégration et de l’analyse des facteurs ESG. Le Gestionnaire de portefeuille a élaboré une liste de contrôle ESG et un guide de l’importance relative du secteur qui encadrent les activités d’engagement. L’intégration des facteurs de risque ESG aboutit à l’attribution d’une notation ESG établie en interne, qui façonne l’opinion de crédit du Gestionnaire de portefeuille et motive les décisions
de construction du portefeuille.
–	Pendant la durée de vie de l’investissement, le risque en matière de durabilité est contrôlé en examinant les données ESG publiées par l’émetteur (le cas échéant) et en se concentrant continuellement sur l’engagement actif de l’entreprise afin de déterminer si le niveau de risque en matière de durabilité a changé depuis la réalisation de l’évaluation initiale.
L’évaluation des facteurs ESG par le Gestionnaire de
portefeuille constitue une partie importante du
processus quotidien de surveillance du crédit, par
lequel le Gestionnaire de portefeuille évalue tous les risques et opportunités liés à l’émetteur. Le Gestionnaire de portefeuille s’engage chaque année auprès de tous les émetteurs sur les questions ESG. L’engagement est toutefois plus fréquent lorsque l’exposition aux risques ESG importants est plus élevée. En outre, le Gestionnaire de portefeuille suit de près ce processus d’engagement ESG afin de saisir et mesurer l’efficacité des activités d’engagement. Si le risque en matière de durabilité associé à un investissement particulier augmente au-
delà de la propension au risque ESG du
Compartiment, le Gestionnaire de portefeuille envisagera de vendre ou de réduire l’exposition du Compartiment à l’investissement concerné, en tenant compte au mieux des intérêts des Actionnaires du
Compartiment.
Comme expliqué ci-dessus, la gestion et l’évaluation des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours possible qu’un Événement ESG ait une incidence négative
importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences
négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en
Bourse ou de gré à gré suivants, à des fins d’investissement :
| Swaps | Swaps de défaut de crédit Indice/panier de swaps de défaut de crédit Swaps de rendement total (TRS) (notamment sur valeur individuelle, crédit et panier personnalisé) |
| --- | --- |
| Titres avec IFD intégrés/effet de levier | Obligations convertibles Titres convertibles contingents (CoCo) Obligations avec remboursement anticipé à l’option du détenteur (puttable) ou de l’émetteur (callable) Titres adossés à des actifs (ABS) (dont les Obligations garanties par des prêts [CLO]) Titres adossés à des créances hypothécaires (MBS) Bons de souscription ETF synthétiques Actions privilégiées convertibles |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de gestion efficace de portefeuille (GEP). Le Compartiment utilise les indices à des fins
d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (CDS) utilisés pour offrir une exposition à des marchés de titres à revenu fixe mondiaux d’une manière plus rentable qu’avec l’achat de titres physiques. | IHS Markit’s North American High Yield CDX Index IHS Markit North American Investment Grade CDX Index IHS Markit iTraxx Europe Index IHS Markit iTraxx Europe Crossover |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Toutefois,
sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement
affecté par les rééquilibrages, les coûts associés ou la pondération des actions de l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

#### Positions longues et courtes
Le Compartiment peut construire des expositions synthétiques longues et synthétiques courtes dans
chacune des classes d’actifs référencées dans la Politique d’investissement pour atteindre son objectif d’investissement. Dans le cadre de l’approche par les engagements, l’exposition longue totale par le biais d’IFD
ne devrait pas excéder 50 % de la Valeur liquidative du Compartiment et l’exposition courte totale ne devrait pas excéder 50 % de la Valeur liquidative du Compartiment.
Afin de lever toute ambiguïté, le Compartiment ne détiendra pas de position courte nette directionnelle au niveau du fonds.
Exposition globale et effet de levier 
Méthodologie de calcul de l’exposition globale : VaR relative
Limite de VaR relative : Le portefeuille du Compartiment ne dépassera pas le double de la VaR d’un portefeuille de référence représentatif (sur la base d’une période de détention de 1 Jours ouvrables).
Indice de référence de la VaR relative : L’indice ICE BofA Developed Markets High Yield Constrained TR Index (couvert par rapport au dollar américain)
L’effet de levier brut devrait varier entre : 100 – 500 % de la Valeur liquidative. L’effet de levier brut peut toutefois dépasser ce niveau cible à certains moments.
Le Réglementation OPCVM de la Banque centrale prévoit que lorsque la VaR est utilisée comme approche de
gestion du risque, elle peut être complétée d’un calcul de l’effet de levier par le biais de l’approche par les engagements.
Effet de levier maximum : 50 % de la Valeur liquidative (sur la base de l’approche par les engagements)
Pour plus d’informations sur l’approche par la Valeur à risque relative, l’Effet de levier brut et l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de
levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des OFT, c’est à
dire des accords de prêt de titres et des accords de
mise/prise en pension, comme décrit sous la rubrique
« Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et
aux OFT correspondent respectivement à 50 % et 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que ces expositions respectives aux TRS et aux OFT excèdent
10 % et 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet de TRS et OFT seront les titres dont la nature est conforme à la politique d’investissement du
Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Enregistrement à Hong Kong
Ce Compartiment est enregistré à la vente à Hong Kong.

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 EUR, 1 GBP, 1 CHF, 1 AUD, 1 CAD,
10 HKD, 10 CNH ou 100 JPY selon la devise de la
catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) portant le suffixe « (M) », les dividendes seront normalement déclarés chaque mois, le dernier Jour
ouvrable du mois. Concernant les détenteurs d’Actions de
distribution mensuelle, les dividendes déclarés leur
seront normalement versés au plus tard le 20 du mois
suivant. Dans le cas de toutes les autres catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés
trimestriellement, les 31 décembre, 31 mars, 30 juin et 30 septembre. Concernant les détenteurs de ces Actions de distribution, les dividendes déclarés leur seront normalement versés au plus tard le 11 février, le 11 mai, le 11 août et le 11 novembre, respectivement. De plus amples informations sont disponibles à la section « La
Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus, en particulier sur la partie intitulée « Risque
de concentration », car il est possible que le Compartiment concentre ses investissements dans des obligations à haut rendement émises par des sociétés domiciliées aux États-Unis. Nous attirons également leur attention sur les sections « Risque lié aux titres de créance subordonnés » et « Risque lié aux titres convertibles contingents (CoCo) » eu égard aux instruments de créance subordonnés, ainsi que sur les autres risques spécifiques au Compartiment mentionnés ci-après.

#### Risque de taux d’intérêt et d’inflation
Tout investissement dans le Compartiment comporte un risque de taux d’intérêt et un risque d’inflation. Les cours des titres de créance augmentent généralement lorsque les taux d’intérêt diminuent, et réciproquement. La valeur du Compartiment peut être affectée par des mouvements défavorables importants des taux d’intérêt et des taux
d’inflation.

#### Risques liés aux obligations 144A /Reg S
Le Compartiment peut investir dans des obligations 144A (soumises au règlement 144A de la loi américaine) et
Reg S, qui sont généralement des titres dits « sous conditions d’investissement restreintes » (« restricted ») dont la revente ou le transfert peut être limité(e). Par
exemple, les obligations 144A sont des titres offerts par le biais de placements privés, qui peuvent uniquement être revendus à certains acheteurs institutionnels qualifiés. Les obligations Reg S sont, pour leur part, des titres vendus à des personnes ou entités situées en
dehors des États-Unis, dispensés d’enregistrement
auprès de la SEC, qui peuvent être seulement revendus
aux États-Unis dans certaines circonstances. En conséquence, les obligations 144A et Reg S peuvent être soumises à une volatilité plus élevée et à un niveau de liquidité plus faible par rapport à certains autres types de titres de créance, ce qui peut rendre leur vente relativement plus difficile à réaliser en temps voulu. Afin
de réduire les risques liés à ce type d’investissements,
les obligations Reg S ou 144A sélectionnées pour être
investies par le Compartiment seront principalement des
titres cotés ou négociés sur des Marchés éligibles (dont la liste est présentée à l’Annexe II du Prospectus) et supposés être liquides.

## BNY Mellon Global Opportunities Fund

### SUPPLÉMENT 6, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci-après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Newton Investment Management Limited

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les
tableaux ci-après et se différencient par leur devise de référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro A | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| USD A | USD | 5 000 | 5 % | 2,00 % | 0 % |
| AUD A (Cap.) | AUD | 5 000 | 5 % | 2,00 % | 0 % |
| CAD A (Cap.) | CAD | 5 000 | 5 % | 2,00 % | 0 % |
| HKD A (Cap.) | HKD | 50 000 | 5 % | 2,00 % | 0 % |
| CNH A (Cap.) | CNH | 50 000 | 5 % | 2,00 % | 0 % |
| SGD A (Cap.) | SGD | 5 000 | 5 % | 2,00 % | 0 % |
| Euro H (couverte) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| AUD H (Cap.) (couverte) | AUD | 5 000 | 5 % | 2,00 % | 0 % |
| CAD H (Cap.) (couverte) | CAD | 5 000 | 5 % | 2,00 % | 0 % |
| CNH H (Cap.) (couverte) | CNH | 50 000 | 5 % | 2,00 % | 0 % |
| SGD H (Cap.) (couverte) | SGD | 5 000 | 5 % | 2,00 % | 0 % |

| Actions « B » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD B | USD | 10 000 | 5 % | 1,50 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro C | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| SGD I (Cap.) (couverte) | SGD | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| HKD W (Cap.) | HKD | 150 000 000 | 5 % | 0,75 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| SGD W (Dist.) (couverte) | SGD | 15 000 000 | 5 % | 0,75 % | 0 % |
| AUD W (Cap.) (couverte) | AUD | 15 000 000 | 5 % | 0,75 % | 0 % |
| CAD W (Cap.) (couverte) | CAD | 15 000 000 | 5 % | 0,75 % | 0 % |
| CNH W (Dist.) (couverte) | CNH | 150 000 000 | 5 % | 0,75 % | 0 % |

| Actions « X » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro X | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à assurer l’appréciation du capital à long terme en investissant principalement, c’est-à-dire au moins les deux tiers de ses actifs, dans un portefeuille d’actions et titres apparentés de sociétés du
monde entier, dont la majorité sont cotés ou négociés sur
des Marchés éligibles du monde entier.
En ce qui concerne la proportion d’actifs alloués à une zone géographique, un secteur économique ou une catégorie de titres en particulier, le Compartiment n’est soumis à aucune restriction (à l’exception de celles
stipulées dans le Prospectus sous la rubrique « La Société – Restrictions en matière d’investissement et d’emprunt »).

##### Politique d’investissement
Le Compartiment investira principalement, c’est-à-dire au moins les deux tiers de sa Valeur liquidative, dans un portefeuille d’actions et titres apparentés, notamment des obligations convertibles (généralement non notées),
des actions privilégiées convertibles et des bons de souscription (jusqu’à 10 % maximum de la Valeur liquidative du Compartiment dans le cas des bons de
souscription), de sociétés du monde entier dont les titres sont cotés ou négociés sur des Marchés éligibles.
Un tiers au plus de la Valeur liquidative du Compartiment pourra être investie dans des obligations d’émetteurs internationaux souverains, d’États, d’agences supranationales, d’entreprises, de banques et d’obligations autres (y compris les obligations hypothécaires et les obligations d’entreprise) et d’autres
titres de créance et apparentés (tels que des débentures,
des billets (dont des billets émis par des sociétés ou des entités souveraines, à taux variable et fixe, à échéance
d’un an minimum), des titres adossés à des actifs et à
des créances hypothécaires, des certificats de dépôt, des
billets de trésorerie, et des certificats représentatifs de titres américains et/ou internationaux), cotés ou négociés sur un Marché éligible dans le monde entier.
La notation de crédit minimum des titres de créance et
apparentés dans lesquels le Compartiment peut investir est BBB- (ou son équivalent), telle qu’attribuée par une Agence de notation reconnue. En cas d’une divergence de notation, la notation la plus élevée sera prise en
considération. Si un instrument n’est pas noté, il doit être
de qualité équivalente à celle déterminée par le
Gestionnaire de portefeuille.
Le Compartiment investit à l’échelle mondiale et, bien que ses investissements ne soient pas tenus d’être limités ou concentrés sur une région géographique ou un
marché en particulier, le Compartiment peut se trouver exposé de manière significative à certains marchés, dont les États-Unis. La portée mondiale du Compartiment
signifie qu’un investissement peut impliquer certains
risques additionnels dus à la volatilité de sa performance
à court terme.
L’achat d’actions A chinoises via le Stock Connect est l’une des méthodes utilisées par le Compartiment pour acquérir une exposition aux titres chinois. Le Compartiment peut investir jusqu’à 10 % de sa Valeur
liquidative dans des actions chinoises de classe A par le
biais du Stock Connect. Le programme Stock Connect est présenté plus en détail dans l’Annexe V du Prospectus.
En outre, le Compartiment ne peut pas investir plus de 10 % de sa Valeur liquidative au total dans des organismes de placement collectif (« OPC »).

##### Indice de référence
L’indice MSCI AC World NR Index (l’« Indice de référence »).
L’Indice de référence est un indicateur exhaustif des performances du marché d’actions mondial, qui intègre des fortes et moyennes capitalisations représentatives
des marchés développés et des marchés émergents. Avec
plus de 2 000 composantes, il couvre approximativement 85 % des possibilités d’investissement en actions sur la scène mondiale. L’indice de référence applique une approche exhaustive et cohérente qui permet d’avoir un aperçu global très pertinent et d’établir des
comparaisons entre régions de toutes les tailles de
capitalisation boursière, de tous les segments et combinaisons sectorielles et de style. Cette méthodologie
vise à couvrir de manière exhaustive l’ensemble des opportunités en mettant fortement l’accent sur la liquidité, l’investissabilité et la réplicabilité de l’indice. L’Indice de référence est rééquilibré tous les trimestres afin de refléter l’évolution des marchés d’actions sous-
jacents, tout en limitant toute rotation injustifiée.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour investir en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement.
Bien que les avoirs du Compartiment puissent inclure des composantes de l’Indice de référence, la sélection des placements et leurs pondérations dans le portefeuille ne
sont pas influencées par celles de l’Indice de référence. La stratégie d’investissement ne restreint pas la mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.

##### Stratégie d’investissement
La philosophie d’investissement est basée sur la conviction du Gestionnaire de portefeuille qu’aucune société, aucun marché ni aucune économie ne peuvent
être considérés isolément, chacun de ces éléments devant être examiné dans un contexte global. Le Gestionnaire de portefeuille estime que les événements qui surviennent dans le monde influent sur tous les
marchés financiers et qu’un investissement réussi dans
des actions mondiales implique par conséquent de bien
comprendre le monde dans son ensemble.
Le Gestionnaire de portefeuille identifie les thèmes qui touchent à des changements majeurs au niveau international et les utilise pour étayer nos idées
d’investissement. Cette approche thématique mondiale permet au Gestionnaire de portefeuille d’acquérir une perspective à long terme sur les marchés financiers et
les économies du monde entier, en gardant toujours une vision d’ensemble. La perspective est une caractéristique essentielle du processus d’investissement, car elle permet d’anticiper les évolutions à l’échelle mondiale et oriente les analystes et gestionnaires de portefeuille vers
les opportunités rentables.
Les portefeuilles d’opportunités mondiales sont construits d’après cette vision globale et suivent une approche d’investissement sans contrainte régionale,
sectorielle ni indicielle. Le Gestionnaire de portefeuille ne suit pas de style d’investissement axé exclusivement sur la valeur ou la croissance ; il se concentre au contraire
sur les actions de sociétés à la valorisation intéressante
qui offrent de bonnes perspectives et de solides fondamentaux. Les différentes positions d’un portefeuille investi à l’échelle mondiale représentent en moyenne 2 % à 3 % de sa valeur totale. Cela signifie que le
Gestionnaire de portefeuille sélectionne des valeurs dont il est fortement convaincu du potentiel.

##### Règlement sur la publication d’informations en matière de finance durable
La prise en compte du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents, il évalue le risque qu’un événement ou une
condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Le Gestionnaire de portefeuille a accès à diverses
catégories de données ESG fournies par des tiers, qui permettent d’identifier les problèmes ESG potentiels auxquels un émetteur peut être confronté. Cela inclut, entre autres, l’exposition à des activités pouvant être
considérées comme nocives pour l’environnement ou la
société. Ces données, ainsi que celles obtenues par le
Gestionnaire de portefeuille dans le cadre de sa propre recherche sur l’investissement responsable, constituent une part importante de la prise en compte et de l’évaluation du niveau de risque en matière de durabilité auquel un investissement peut être soumis.
Cette évaluation est intégrée au processus de recherche au niveau des titres, qui repose sur l’analyse fondamentale des opportunités d’investissement individuelles à travers un certain nombre de facteurs
différents, notamment :
- les caractéristiques financières ou économiques fondamentales ;
- l’évaluation ;
- le profil risque/rendement ; et
- les caractéristiques ESG de l’émetteur, y compris la compréhension de la manière dont cesconsidérations peuvent avoir un impact sur les rendements économiques.

Le Gestionnaire de portefeuille tiendra compte des informations recueillies à partir de l’analyse fondamentale dans sa décision d’acquérir une participation dans une société émettrice ou de conserver
une position donnée.
Comme expliqué ci-dessus, l’évaluation et la gestion des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours
possible qu’un Événement ESG ait une incidence négative importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI
en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs
de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Enregistrement en Allemagne
Ce Compartiment est enregistré à la vente en Allemagne. Le Compartiment est classé en tant que Fonds
d’investissement aux fins de l’impôt allemand et, à ce
titre, il investira en permanence plus de 50 % de ses actifs en actions au sens de l’Article 2, paragraphe 8 de la Loi allemande sur la fiscalité des investissements.

#### Enregistrement à Hong Kong
Ce Compartiment est enregistré à la vente à Hong Kong.

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 50 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale.
En utilisant des IFD à des fins de GEP, le Compartiment peut obtenir une exposition indirecte aux indices financiers.
Veuillez consulter la section du Prospectus intitulée « La Société – Gestion efficace de portefeuille » pour de plus amples informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la
contrepartie sont fournis aux rubriques du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 £, 1 €, 1 CAD, 1 AUD, 1 SGD, 10 HKD
ou 10 CNH selon la devise de la catégorie concernée
(majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés le 31 décembre de chaque année.
Concernant les détenteurs d’Actions de distribution, les
dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Pan European Equity Fund

### SUPPLÉMENT 7, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
Ce Compartiment a été clôturé par voie d’un rachat forcé et toutes les Actions en circulation au 9 mars 2017 ont
été obligatoirement rachetées. Les Actions du Compartiment ne sont plus disponibles pour
l’investissement. La Société prévoit de déposer une
demande auprès de la Banque centrale afin que l’agrément du Compartiment soit révoqué à la suite de la préparation des états financiers audités pour l’exercice
clôturé le 31 décembre 2017. La Société demandera l’accord de la Banque centrale pour retirer ce Compartiment du présent Prospectus après l’approbation de cette révocation.
Le présent Supplément contient des informations spécifiques relatives au Compartiment BNY Mellon Pan European Equity (le « Compartiment »), compartiment de
BNY Mellon Global Funds plc (la « Société »), société d’investissement à capital variable et compartiments multiples constituée en tant qu’OPCVM conformément aux dispositions de la Réglementation OPCVM. Il existe
une responsabilité séparée entre les Compartiments de la Société.
Le présent Supplément fait partie intégrante de, et doit être lu conjointement avec la description générale :
- de ses catégories d’actions
- de ses restrictions en matière d’investissement et d’emprunt
- de sa politique de distribution
- de sa méthode de calcul de la Valeur liquidative
- de la Société, de sa Gestion et de son Administration
- des commissions et frais de la Société
- de ses Facteurs de risque
- du régime fiscal de la Société et de ses Actionnaires contenue dans le Prospectus de la Société en date du3 mai 2022, qui est fournie avec le présent Supplément. Si vous n’avez pas reçu le Prospectus, veuillez prendre contact avec l’Agent administratif.

Nous attirons particulièrement l’attention des investisseurs sur le contenu de la section intitulée
« Facteurs de risque » du Prospectus.
Les Administrateurs, dont les noms sont cités sous la rubrique « Gestion et administration de la Société » du Prospectus, assument la responsabilité des informations contenues dans le présent Supplément et dans le Prospectus. À la connaissance des Administrateurs (qui
ont pris toutes les précautions raisonnables pour s’en
assurer), ces informations sont conformes à la réalité des faits et n’omettent aucun élément qui serait susceptible d’en affecter la teneur. En conséquence, les Administrateurs en assument la responsabilité.

#### Gestionnaire de portefeuille
Le Gestionnaire a désigné Newton Investment
Management Limited (le « Gestionnaire de portefeuille ») pour gérer l’investissement et le réinvestissement des actifs du Compartiment.
Des informations sur le Gestionnaire de portefeuille sont données à la section « Gestion et administration de la Société » du Prospectus.

#### Devise de référence
Euro

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
Un investisseur type est prêt à accepter un niveau de volatilité modéré et un horizon d’investissement de 5 ans.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les
tableaux ci-après et se différencient par leur devise de référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions peut être offerte sont décrites sous la rubrique
« La Société – Structure » du Prospectus.
| Actions « Euro A » et Actions « USD A » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro A | EUR | Jusqu’à 5 % | 5 000 EUR | 2,00 % | Aucun(e) |
| USD A | USD | Jusqu’à 5 % | 5 000 USD | 2,00 % | Aucun(e) |

| Actions « Euro B », Actions « Sterling B (Cap.) », Actions « Sterling B (Dist.) » et Actions « USD B (Cap.) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro B | EUR | Jusqu’à 5 % | 10 000 EUR | 1,50 % | Aucun(e) |
| Sterling B (Cap.) | GBP | Jusqu’à 5 % | 1 000 GBP | 1,50 % | Aucun(e) |
| Sterling B (Dist.) | GBP | Jusqu’à 5 % | 1 000 GBP | 1,50 % | Aucun(e) |
| USD B (Cap.) | USD | Jusqu’à 5 % | 10 000 USD | 1,50 % | Aucun(e) |

| Actions « Euro C » et Actions « USD C » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro C | EUR | Jusqu’à 5 % | 5 000 000 EUR | 1,00 % | Aucun(e) |
| USD C | USD | Jusqu’à 5 % | 5 000 000 USD | 1,00 % | Aucun(e) |

| Actions « Euro X (Cap.) » et Actions « USD X (Cap.) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro X (Cap.) | EUR | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| USD X (Cap.) | USD | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |

| Actions « Sterling W (Cap.) », Actions « Euro W (Cap.) » et Actions « USD W (Cap.) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Sterling W (Cap.) | GBP | Jusqu’à 5 % | 15 000 000 GBP | 0,75 % | Aucun(e) |
| EUR W (Cap.) | EUR | Jusqu’à 5 % | 15 000 000 EUR | 0,75 % | Aucun(e) |
| USD W (Cap.) | USD | Jusqu’à 5 % | 15 000 000 USD | 0,75 % | Aucun(e) |


#### Objectifs et politiques d’investissement

##### Objectif d’investissement
Le Compartiment vise à assurer l’appréciation du capital à long terme en investissant principalement (c’est-à-dire, au moins les deux tiers de ses actifs) dans un portefeuille d’actions et jusqu’à un tiers de ses actifs
dans un portefeuille de titres apparentés à des actions
de sociétés européennes et britanniques implantées,
cotées ou réalisant la majeure partie de leur chiffre d’affaires en Europe (Royaume-Uni inclus).

##### Politique d’investissement
Le Compartiment investira principalement, c’est-à-dire au moins les deux tiers de ses actifs, dans un portefeuille d’actions et jusqu’à un tiers de ses actifs dans un portefeuille de titres apparentés à des actions,
notamment des obligations convertibles (généralement non notées), des actions privilégiées convertibles et des
bons de souscription (jusqu’à 10 % de sa Valeur
liquidative dans le cas des bons de souscription) de
sociétés implantées ou réalisant la majeure partie de leur chiffre d’affaires en Europe (Royaume-Uni inclus).
Un tiers au plus des actifs du Compartiment pourra être
investi dans des actions et titres apparentés de sociétés ne remplissant pas les conditions d’implantation ou de chiffre d’affaires. Les placements peuvent être réalisés à
la fois dans des pays développés et dans des pays émergents d’Europe.
La majeure partie des actifs du Compartiment seront cotés ou négociés sur des Marchés éligibles d’Europe (Royaume-Uni inclus).
Le Compartiment peut effectuer des opérations portant sur des IFD à des fins de gestion efficace de portefeuille (comme décrit dans la rubrique « Gestion efficace de portefeuille » ci-dessous) ou à des fins de couverture.
Une liste des Marchés éligibles sur lesquels les IFD peuvent être cotés ou négociés est exposée à l’Annexe II du Prospectus. Le Compartiment peut également
conclure des opérations sur dérivés de gré à gré, comme indiqué ci-dessous dans la rubrique « Gestion efficace de portefeuille ».

##### Stratégie d’investissement
La philosophie d’investissement est basée sur la conviction du Gestionnaire de portefeuille qu’aucune société, aucun marché ni aucune économie ne peuvent
être considérés isolément, chacun de ces éléments devant être examiné dans un contexte global. Le Gestionnaire de portefeuille estime que les événements
qui surviennent dans le monde influent sur tous les marchés financiers et qu’un investissement réussi dans des actions paneuropéennes implique par conséquent de
bien comprendre le monde dans son ensemble.
Le Gestionnaire de portefeuille identifie les thèmes qui touchent à des changements majeurs au niveau international et les utilise pour étayer ses idées
d’investissement. Cette approche thématique mondiale permet au Gestionnaire de portefeuille d’acquérir une perspective à long terme sur les marchés financiers et
les économies du monde entier, en gardant toujours une vision d’ensemble. La perspective est une caractéristique essentielle du processus d’investissement, car elle permet d’anticiper les évolutions à l’échelle mondiale et oriente les analystes et gestionnaires de portefeuille vers
les opportunités rentables.
Les portefeuilles d’actions paneuropéennes ont été construits d’après cette vision globale, au moyen de notre processus d’investissement axé sur la recherche
ascendante. Le Gestionnaire de portefeuille ne suit pas un style d’investissement axé exclusivement sur la valeur ou la croissance ; il se concentre au contraire sur les
actions de sociétés à la valorisation intéressante qui offrent de bonnes perspectives et de solides fondamentaux.

#### Émission d’Actions
L’offre initiale (la « Période d’offre initiale ») pour toutes les catégories d’actions lancées du Compartiment est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 17 mai 2018 ou jusqu’à une date antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre
initiale prendra automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment sur le site Internet www.bnymellonim.com.
Les Actions des catégories d’actions non lancées seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale respectif par Action, à savoir de 1
$, 1 £, 1 €, 1 CHF ou 100 ¥ selon la devise de la catégorie concernée (plus les droits d’entrée, le cas échéant,
applicables à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Rachat d’Actions
Les Actions de chaque catégorie pourront être rachetées, à la discrétion de l’Actionnaire concerné, tout Jour d’évaluation à l’Heure d’évaluation. Le Prix de rachat est égal à la Valeur liquidative par action de cette catégorie,
calculée à l’Heure d’évaluation, diminuée de la commission de rachat applicable.
Toutes les demandes de rachat d’actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Restrictions en matière d’investissement et d’emprunt
Les restrictions en matière d’investissement et d’emprunt du Compartiment sont définies sous la section du Prospectus intitulée « La Société – Restrictions en matière d’investissement et d’emprunt ».
En outre, la valeur totale des positions acheteuses sur produits dérivés détenus ne doit pas dépasser 15 % de la Valeur liquidative du Compartiment.
En outre, le Compartiment ne peut pas investir plus de 10 % de son actif net total dans des organismes de placement collectif.

#### Exposition globale et effet de levier
Le Compartiment utilisera l’approche par les engagements pour mesurer, surveiller et gérer avec précision l’« effet de levier » produit par l’utilisation de produits dérivés.
L’approche par les engagements est calculée en convertissant la position sur le produit dérivé en une position équivalente sur l’actif sous-jacent, sur la base de la valeur de marché de l’actif sous-jacent ou de la
valeur de marché du contrat et en permettant tout
accord de compensation et de couverture, comme il est décrit dans le Processus de gestion du risque.
En utilisant l’approche par les engagements, le Compartiment ne pourra en aucun cas appliquer un effet de levier (résultant de l’utilisation de produits dérivés) supérieur à 100 % de ses actifs nets.
L’exposition globale du Compartiment ne peut pas dépasser sa valeur liquidative totale.

#### Gestion efficace de portefeuille
Le Compartiment peut recourir à des techniques et des IFD à des fins de gestion efficace de portefeuille. Le Compartiment peut utiliser les techniques et instruments de gestion efficace de portefeuille suivants : contrats à terme standardisés, options, swaps, bons de souscription, contrats de change à terme et titres annoncés non encore émis (when-issued) et/ou titres avec livraison différée.
Une description des instruments et techniques pouvant être employés par le Compartiment en vue d’optimiser la gestion du portefeuille figure sous la rubrique « La Société – Gestion efficace de portefeuille » du Prospectus.
Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension uniquement à des fins de gestion efficace de portefeuille, sous réserve des conditions et limites posées par la Réglementation OPCVM 2015 de la Banque centrale.
Un accord de prêt de titres est un accord en vertu duquel la propriété des titres « prêtés » est transférée par un
« prêteur » à un « emprunteur », ce dernier s’obligeant à
livrer des « titres équivalents » au prêteur à une date
ultérieure.
Les accords de mise en pension sont des opérations en vertu desquelles une partie vend un titre à l’autre partie, en s’obligeant simultanément à racheter le titre à une
date future fixée et à un prix convenu, reflétant un taux d’intérêt du marché non corrélé au taux de coupon des titres. Un accord de prise en pension est une opération
en vertu de laquelle un Compartiment achète des titres auprès d’une contrepartie et s’engage simultanément à revendre les titres à ladite contrepartie à une date et un
prix mutuellement convenus. Par exemple, le
Gestionnaire de portefeuille peut conclure des accords de mise en pension pour améliorer les revenus générés par le Compartiment, ou pour gérer les expositions au risque
de taux d’intérêt des obligations à taux fixe plus précisément que par l’utilisation de contrats à terme standardisés sur taux d’intérêt.
Dans cette optique de gestion efficace de portefeuille, la conclusion d’opérations sur les actifs du Compartiment vise l’un des objectifs suivants :
- une réduction du risque ;
- une réduction du coût ; ou
- la création d’un capital ou un revenu supplémentaire pour le Compartiment, avec un niveau de risque (par rapport au rendement attendu) conforme au profil derisque du Compartiment et aux exigences de diversification du risque d’après la Réglementation OPCVM 2015 de la Banque centrale et la Note d’orientation de la Banque centrale sur les « Actifs éligibles des OPCVM » et telles que présentées sous la rubrique « La Société – Restrictions en matièred’investissement et d’emprunt » du Prospectus.

Le Gestionnaire de portefeuille veillera à ce que ces opérations de gestion efficace de portefeuille soient toujours conclues à des conditions économiques appropriées et rentables.
Des coûts de transaction peuvent être engagés eu égard aux techniques de gestion efficace de portefeuille au titre du Compartiment. Tous les revenus résultant des techniques de gestion efficace de portefeuille, net de coûts opérationnels directs et indirects, seront reversés au Compartiment. Les coûts/commissions directs et indirects découlant des techniques de gestion efficace de portefeuille ne comprennent pas de revenu caché et seront payés aux entités figurant dans le rapport annuel de la Société. Il sera également indiqué si les entités
sont liées au Gestionnaire ou au Dépositaire.
Les investisseurs sont invités à consulter les sections du Prospectus intitulées « Facteurs de risque – Risque de contrepartie », « Facteurs de risque – Risque lié aux produits dérivés, techniques et instruments » et
« Conflits d’intérêts » pour obtenir plus d’informations
sur les risques associés à la gestion efficace de
portefeuille.
Le Compartiment peut conclure des opérations croisées sur devises à des fins de gestion efficace de portefeuille.
Le chapitre « Politique de gestion des garanties » du Prospectus présente des informations relatives à la politique de gestion des garanties du Compartiment.

##### Processus de gestion du risque
La Société mettra en œuvre un Processus de gestion du risque qui lui permet de mesurer, surveiller et gérer avec
précision les risques liés aux positions sur instruments financiers dérivés et dont les modalités ont été soumises
à la Banque centrale. La Société n’utilisera aucun IFD qui n’a pas été inclus dans le Processus de gestion du risque avant que ces instruments ne soient soumis dans le cadre d’une procédure révisée de gestion du risque à la Banque centrale, qui l’aura préalablement autorisée.
La Société fournira aux Actionnaires, sur simple demande de leur part, des informations supplémentaires sur les méthodes de gestion du risque employées par la Société, y compris les limites quantitatives qui sont appliquées et
tous développements récents des caractéristiques des principales catégories d’investissements, en termes de risque et de rendement.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des opérations de financement sur titres (« OFT »), soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’accords de prêt de titres et
d’accords de mise/prise en pension seront les actifs dont la nature est conforme à la politique d’investissement du
Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux sections du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Couverture des catégories d’actions
À des fins de couverture de catégorie d’actions, le Compartiment conclura des opérations de couverture de change eu égard à toutes les Actions portant le suffixe
« (couvertes) ». En ce qui concerne la couverture de catégorie d’actions, le Compartiment couvrira uniquement l’exposition aux devises entre la devise de libellé de la catégorie d’actions couverte concernée et la devise de référence du Compartiment. Les positions peuvent être
surcouvertes ou sous-couvertes en raison de facteurs échappant au contrôle du Compartiment. Ces positions surcouvertes ne sauraient excéder 105 % de la Valeur liquidative de la catégorie. Les positions couvertes seront
surveillées avec pour objectif de s’assurer que les
positions surcouvertes ne dépassent pas le niveau
autorisé et que les positions nettement surcouvertes au- delà de 100 % ne soient pas reconduites sur le mois
suivant. Il est rappelé aux Actionnaires de ces catégories d’actions que cette stratégie peut considérablement
limiter les avantages dont ils pourraient profiter dans le cas où le cours de la devise de libellé de la catégorie diminuerait par rapport à celui de la devise de référence et à ceux des devises de libellé des actifs du Compartiment. Dans ces circonstances, les Actionnaires de ces Catégories peuvent être exposés à des fluctuations de la Valeur liquidative par Action qui refléteraient les gains/pertes sur les instruments financiers concernés et les coûts de ces derniers. Les gains/pertes sur les instruments financiers concernés et
leurs coûts n’affecteront que les Actions concernées. L’exposition de ces catégories d’actions au risque de change lié aux opérations de couverture de change ne
saurait être combinée avec celle de toute autre catégorie ni faire l’objet de toute compensation avec celle d’aucune autre catégorie. L’exposition de change des actifs attribuables à ces catégories d’actions ne saurait être imputée à d’autres catégories. Les comptes annuels et
semestriels de la Société préciseront la manière dont les
opérations, souscrites pour couvrir le risque de change ont été utilisées.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront
normalement déclarés le 31 décembre de chaque année. Concernant les détenteurs d’Actions de distribution, les dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les
investisseurs.
Nous attirons particulièrement l’attention des investisseurs sur le contenu de la section intitulée
« Facteurs de risque » du Prospectus.

## BNY Mellon S&P 500® Index Tracker

### SUPPLÉMENT 8, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
Ce Compartiment a été clôturé par voie d’un rachat forcé et toutes les Actions en circulation au 15 janvier 2021 ont
été obligatoirement rachetées. Les Actions du Compartiment ne sont plus disponibles pour
l’investissement. La Société prévoit de déposer une
demande auprès de la Banque centrale afin que l’agrément du Compartiment soit révoqué à la suite de la préparation des états financiers audités pour l’exercice
clôturé le 31 décembre 2021. La Société demandera l’accord de la Banque centrale pour retirer ce Compartiment du présent Prospectus après l’approbation de cette révocation.
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des instruments financiers dérivés (« IFD ») à des fins de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci-après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée« Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- La Valeur liquidative du Compartiment peut faire l’objet d’une volatilité élevée en raison de sa politique d’investissement.


#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de réception des demandes de souscription, de rachat ou d’échange est fixée à 22 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro A | EUR | Jusqu’à 5 % | 5 000 EUR | 1,00 % | Aucun(e) |
| USD A | USD | Jusqu’à 5 % | 5 000 USD | 1,00 % | Aucun(e) |

| Actions « C » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro C | EUR | Jusqu’à 5 % | 5 000 000 EUR | 0,30 % | Aucun(e) |
| USD C | USD | Jusqu’à 5 % | 5 000 000 USD | 0,30 % | Aucun(e) |

| Actions « G » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | Jusqu’à 5 % | 5 000 USD | 0,30 % | Aucun(e) |

| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Euro G (Cap.) | EUR | Jusqu’à 5 % | 5 000 EUR | 0,30 % | Aucun(e) |

| Actions « X » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro X (Cap.) | EUR | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| USD X (Cap.) | USD | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à égaler la performance de l’indice S&P 500
® 
(l’« Indice »). Afin de suivre l’Indice et d’obtenir une appréciation du capital à long terme, il investit dans
des actions réparties sur de nombreux secteurs au sein des marchés ouverts au public aux États-Unis.

##### Gestion et processus d’investissement
L’indexation est une approche d’investissement rentable et sensée qui permet de profiter d’une exposition diversifiée au marché actions américain, tout en
percevant des rendements relatifs compétitifs sur le long terme. Les investisseurs doivent toutefois garder à
l’esprit qu’il n’y a aucune garantie qu’un compartiment
indiciel reproduise toujours exactement la composition ou la performance de l’indice concerné. Un compartiment indiciel occasionne des dépenses et des frais de
fonctionnement, contrairement à un indice boursier (souvent évoqué en tant qu’indice de référence à des fins de réplication). Par conséquent, la performance d’un fonds indiciel donné, même si ce dernier est censé suivre son indice le plus fidèlement possible, n’est
généralement pas exactement la même que celle de l’indice concerné. Des erreurs de suivi peuvent découler de modifications de composantes indicielles, d’opérations sur titres, de gestion de trésorerie et de coûts de
transaction, qui peuvent être minimisées en portant une attention particulière aux changements et mesures, à
l’aide d’instruments spécialisés ou de contrats à terme
standardisés sur indices pour gérer la trésorerie et en
adoptant une gestion ou une négociation active afin de réduire les coûts.
Si le Compartiment ne peut pas acheter les 500 titres concernés – ce qui est probable – il achète un échantillon représentatif de titres provenant de chacun des secteurs économiques inclus dans l’Indice, proportionnellement à
leur pondération au sein de l’Indice. Dans la mesure où le Compartiment cherche à reproduire l’Indice grâce à ces techniques d’échantillonnage, la performance du Compartiment est susceptible d’être fortement corrélée à celle de l’Indice, que la tendance soit haussière ou baissière. Une baisse de l’Indice se traduira
probablement par une baisse équivalente de la valeur du
Compartiment.
Il convient toutefois de noter que le Compartiment n’est pas autorisé à investir plus de 10 % de sa Valeur liquidative dans les valeurs mobilières d’un seul et même émetteur. En outre, s’il investit plus de 5 % de sa Valeur liquidative dans les titres d’un seul et même émetteur, la valeur totale des participations de ce type ne saurait
excéder 40 % de la Valeur liquidative du Compartiment. Par conséquent, il est impossible pour le Compartiment
de reproduire la totalité des fluctuations de l’indice
concerné si un ou plusieurs placements dépassent ces
limites, sur la base de la pondération en pourcentage au sein de l’indice concerné. Toutefois, le Compartiment est autorisé à acheter certains types de valeurs mobilières
comme des obligations et des billets cotés, échangés ou
négociés sur un Marché éligible et dont la performance est corrélée à celle des actions incluses dans l’Indice. Ces obligations et billets doivent être des titres de
qualité investment grade, telle que déterminée par l’agence de notation Standard & Poor’s. En utilisant ces types d’instruments, le Compartiment s’expose aux émetteurs concernés tout en maintenant son exposition économique à l’action sous-jacente de l’Indice au-delà
des limites stipulées dans les Restrictions d’investissement applicables au Compartiment.
L’erreur de suivi de l’indice devrait se situer entre 0,1 % et 0,2 %. Ces données seront communiquées dans les comptes annuels et semestriels de la Société.
La majeure partie des investissements du Compartiment sera cotée ou négociée sur des Marchés éligibles situés aux États-Unis.
En outre, le Compartiment n’investira pas plus de 10 % de sa Valeur liquidative globale dans des organismes de placement collectif.

##### Stratégie d’investissement
Le Compartiment vise à répliquer les caractéristiques et la performance de l’indice S&P500
®
. Pour reproduire la performance de l’indice, les gestionnaires de portefeuille du Compartiment appliquent une gestion passive et
achètent l’ensemble ou un échantillon représentatif des titres qui composent l’indice S&P 500
®
. Le Compartiment peut également utiliser des contrats à terme
standardisés sur indices boursiers à la place de simples contrats de vente et d’achat de titres. Le Compartiment investit généralement dans les titres qui composent l’indice S&P 500
® 
à proportion de leur pondération dans
l’indice. Compte tenu de la nature indicielle du Compartiment, le Gestionnaire de portefeuille n’aura aucun pouvoir de s’adapter aux changements du marché ni d’éliminer les actions sous-performantes qui composent l’Indice. L’indice S&P 500
® 
se compose d’actions ordinaires choisies pour refléter les secteurs de l’économie américaine et est souvent considéré comme
un indicateur indirect du marché boursier américain dans
son ensemble. Les actions de chaque société sont pondérées par le nombre d’actions du flottant disponible (accessibles aux investisseurs) divisé par le nombre total d’actions en circulation, ce qui signifie que les sociétés plus importantes, avec un plus grand flottant disponible,
sont plus représentées dans l’indice que les plus petites. Les sociétés comprises dans le S&P 500
® 
doivent remplir certains critères d’inclusion dans l’indice, notamment des montants minimums de capitalisation boursière, de
flottant et de seuils de liquidité, et respecter notamment
certaines exigences en matière de ratios financiers. La précision du calcul de l’Indice peut être affectée en cas de suspension des négociations d’une action constituant l’Indice.

##### Changement d’Indice
Le Compartiment est conçu de manière à suivre la performance de l’indice S&P 500
®
. Les Administrateurs ne sont pas autorisés à changer l’Indice suivi par le Compartiment sans l’autorisation des Actionnaires dudit Compartiment, donnée en vertu d’une résolution adoptée à la majorité des voix lors d’une assemblée générale.
Si l’Indice n’est plus disponible, le Gestionnaire consultera le Gestionnaire de portefeuille afin d’identifier un indice alternatif approprié. Une fois cet indice alternatif trouvé, il sera obligatoire d’obtenir l’approbation des Actionnaires du Compartiment pour changer d’indice, comme indiqué ci-dessus.

##### Informations relatives à l’indice S&P 500®
L’Indice comprend 500 actions ordinaires qui sont sélectionnées par Standard & Poor’s, afin de refléter les performances boursières de sociétés cotées sur le
marché boursier américain et représentant un grand nombre de secteurs. Les valeurs incluses dans l’Indice sont choisies afin de représenter les différentes
composantes de l’économie américaine. Une portion limitée de l’Indice peut inclure des valeurs non américaines qui sont négociées sur des Bourses
américaines. La valeur de marché globale et les volumes de trading sont également pris en compte dans le processus de sélection. Bien que ces valeurs ne
représentent pas nécessairement les 500 plus grosses sociétés des États-Unis, l’Indice met néanmoins l’accent sur les grandes capitalisations. Les 500 titres, dont la
plupart se négocient à la Bourse de New York, représentent environ 80 % de la valeur de marché de toutes les actions ordinaires américaines. Chaque titre de
l’Indice est pondéré en fonction de sa capitalisation boursière (c’est-à-dire sa valeur de marché totale par rapport aux valeurs de marché totales de tous les autres titres inclus dans l’Indice). L’inclusion d’un titre donné dans l’Indice ne signifie en aucun cas qu’il est jugé comme un investissement intéressant par Standard & Poor’s. En outre, Standard & Poor’s n’est aucunement
affiliée au Compartiment, au Gestionnaire ou au
Gestionnaire de portefeuille. Vous trouverez de plus amples informations concernant l’Indice sur le site www. standardandpoors.com.

##### Indices financiers
Les informations détaillées relatives aux indices financiers utilisés par le Compartiment seront communiquées aux Actionnaires par le Gestionnaire de portefeuille du Compartiment sur demande et seront reprises dans les comptes semestriels et annuels de la Société. Tous les indices de ce type utilisés seront approuvés par la Banque centrale ou respecteront les exigences imposées par la Banque centrale.
Dans tous les cas, les indices financiers auxquels le Compartiment est susceptible d’être exposé seront typiquement rééquilibrés sur une base mensuelle,
trimestrielle, semestrielle ou annuelle. Les coûts associés à l’obtention d’une exposition à un indice financier varieront selon la fréquence de rééquilibrage de l’indice financier concerné.
Lorsque la pondération d’une composante particulière de l’indice financier dépasse les restrictions d’investissement applicables aux OPCVM, le Gestionnaire
de portefeuille du Compartiment aura pour objectif
prioritaire de remédier à cette situation en tenant compte des intérêts des Actionnaires et de la Société.

#### Enregistrement en Allemagne
Ce Compartiment est enregistré à la vente en Allemagne. Le Compartiment est classé en tant que Fonds
d’investissement aux fins de l’impôt allemand et, à ce
titre, il investira en permanence plus de 50 % de ses actifs en actions au sens de l’Article 2, paragraphe 8 de la Loi allemande sur la fiscalité des investissements.

#### Enregistrement à Hong Kong
Ce Compartiment est enregistré à la vente à Hong Kong. La SFC se réserve le droit de retirer l’autorisation du Compartiment de vendre à Hong Kong si l’Indice n’est selon elle plus considéré comme acceptable.

#### Émission d’Actions
L’offre initiale (la « Période d’offre initiale ») pour toutes les catégories d’actions lancées du Compartiment est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 30 avril 2021 ou jusqu’à une date antérieure ou ultérieure à celle où les premières actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre
initiale prendra automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD ou 1 € selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de
vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Rachat d’Actions
Les Actions de chaque catégorie pourront être rachetées, à la discrétion de l’Actionnaire concerné, tout Jour d’évaluation à l’Heure d’évaluation. Le Prix de rachat est égal à la Valeur liquidative par action de cette catégorie,
calculée à l’Heure d’évaluation, diminuée de la
commission de rachat applicable.
Toutes les demandes de rachat d’actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Restrictions en matière d’investissement et d’emprunt
Les restrictions en matière d’investissement et d’emprunt du Compartiment sont définies sous la section du Prospectus intitulée « La Société – Restrictions en matière d’investissement et d’emprunt ».
Les restrictions en matière d’investissement énoncées aux paragraphes 4.1 et 4.2. de cette rubrique ne s’appliqueront pas au Compartiment. Les restrictions restantes en matière d’investissement, définies dans le Prospectus sous la rubrique « La Société – Restrictions
en matière d’investissement et d’emprunt », continueront de s’appliquer au Compartiment.

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 50 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de gestion efficace de portefeuille (GEP), sous réserve des conditions et limites posées par la Réglementation
OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société – Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.
Le Compartiment ne conclura pas d’opérations de couverture du risque de change croisées.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des opérations de financement sur titres (« OFT »), soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’accords de prêt de titres et
d’accords de mise/prise en pension seront les actifs dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la
contrepartie sont fournis aux sections du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Politique de distribution
Dans le cas des catégories d’actions de capitalisation (Cap.), des dividendes seront normalement déclarés le
31 décembre de chaque année. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.
Le BNY Mellon S&P 500
® 
Index Tracker (le
« Compartiment ») n’est ni parrainé, ni avalisé, ni vendu ni promu par Standard & Poor’s, division de The McGraw- Hill Companies, Inc. (« S&P »). S&P ne saurait faire valoir
ou garantir de manière expresse ou implicite, aux actionnaires de BNY Mellon Global Funds plc (la
« Société ») ni aux membres du public, quant à l’opportunité d’investir dans des valeurs mobilières en général ou dans celles du Compartiment en particulier, ou quant à la capacité de l’indice S&P 500
® 
à suivre la performance du marché boursier dans son ensemble. La
seule relation de S&P avec la Société est une licence d’exploitation de certaines marques S&P et de l’Indice S&P 500
®
, qui est par ailleurs déterminé, composé et
calculé par S&P sans considération de la Société et du Compartiment. S&P n’est pas tenue de prendre en compte les besoins de la Société et des actionnaires du
Compartiment pour déterminer, composer ou calculer l’indice S&P 500
®
. S&P n’est intervenue ni dans la définition des prix et des montants associés aux
Compartiments, ni dans le calendrier des émissions et des ventes du Compartiment, ni dans la définition ou le
calcul de l’équation selon laquelle le Compartiment est
converti en liquidités et décline toute responsabilité à
ces égards. S&P ne saurait être liée par quelques
obligation ou responsabilité que ce soit au titre de l’administration, la promotion ou la commercialisation du Compartiment.
S&P NE SAURAIT GARANTIR NI L’EXACTITUDE NI L’EXHAUSTIVITÉ DE L’INDICE S&P 500
® 
ET DES DONNÉES QU’IL CONTIENT.S&P DÉCLINE TOUTE RESPONSABILITÉ
QUANT AUX ÉVENTUELLES ERREURS, OMISSIONS OU
INTERRUPTIONS DE CET INDICE OU DE CES DONNÉES.
S&P NE SAURAIT GARANTIR DE MANIÈRE EXPRESSE OU IMPLICITE LES RÉSULTATS DE L’UTILISATION DE L’INDICE S&P 500
® 
OU DE TOUTE DONNÉE QU’IL CONTIENT PAR LA SOCIÉTÉ, LES ACTIONNAIRES DU COMPARTIMENT OU
TOUTE AUTRE PERSONNE OU ENTITÉ. S&P NE SAURAIT GARANTIR DE MANIÈRE EXPRESSE OU IMPLICITE, ET EXCLUT EXPRESSÉMENT TOUTE GARANTIE RELATIVE À
LA QUALITÉ MARCHANDE, À L’ADÉQUATION À UNE FINALITÉ PARTICULIÈRE OU À L’UTILISATION DE L’INDICE S&P 500
® 
OU DES DONNÉES QU’IL CONTIENT. SANS
LIMITER LA PORTÉE DE CE QUI PRÉCÈDE, S&P NE
SAURAIT EN AUCUN CAS ÊTRE TENUE RESPONSABLE DES ÉVENTUELS DOMMAGES SPÉCIAUX, PUNITIFS, INDIRECTS OU CONSÉCUTIFS (Y COMPRIS LA PERTE DE
PROFITS), QUAND BIEN MÊME L’ÉVENTUALITÉ DE TELS
DOMMAGES LUI AURAIT ELLE ÉTÉ NOTIFIÉE.

#### Armes à sous-munitions
La politique de la Société de ne pas investir dans des sociétés impliquées dans les armes à sous-munitions et
les mines antipersonnel ne s’applique pas à ce
Compartiment.

## BNY Mellon U.S. Dynamic Value Fund

### SUPPLÉMENT 9, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
Ce Compartiment a été clôturé par voie d’un rachat forcé et toutes les Actions en circulation au 5 mars 2021 ont
été obligatoirement rachetées. Les Actions du Compartiment ne sont plus disponibles pour
l’investissement. La Société prévoit de déposer une
demande auprès de la Banque centrale afin que l’agrément du Compartiment soit révoqué à la suite de la préparation des états financiers audités pour l’exercice
clôturé le 31 décembre 2021. La Société demandera l’accord de la Banque centrale pour retirer ce Compartiment du présent Prospectus après l’approbation de cette révocation.
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des instruments financiers dérivés (« IFD ») à des fins de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci-après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée« Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- La Valeur liquidative du Compartiment peut faire l’objet d’une volatilité élevée en raison de sa politique d’investissement.


#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et « H (couvertes) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro A | EUR | Jusqu’à 5 % | 5 000 EUR | 2,00 % | Aucun(e) |
| Euro A (Dist.) | EUR | Jusqu’à 5 % | 5 000 EUR | 2,00 % | Aucun(e) |
| USD A | USD | Jusqu’à 5 % | 5 000 USD | 2,00 % | Aucun(e) |
| Sterling A (Cap.) | GBP | Jusqu’à 5 % | 5 000 GBP | 2,00 % | Aucun(e) |
| Euro H (Cap.) (couverte) | EUR | Jusqu’à 5 % | 5 000 EUR | 2,00 % | Aucun(e) |
| Euro H (Dist.) (couverte) | EUR | Jusqu’à 5 % | 5 000 EUR | 2,00 % | Aucun(e) |

| Actions « B » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD B | USD | Jusqu’à 5 % | 10 000 USD | 1,50 % | Aucun(e) |

| Actions « C » et « I (couvertes) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro C | EUR | Jusqu’à 5 % | 5 000 000 EUR | 1,00 % | Aucun(e) |
| Euro C (Dist.) | EUR | Jusqu’à 5 % | 5 000 000 EUR | 1,00 % | Aucun(e) |
| USD C | USD | Jusqu’à 5 % | 5 000 000 USD | 1,00 % | Aucun(e) |
| Sterling C (Dist.) | GBP | Jusqu’à 5 % | 5 000 000 GBP | 1,00 % | Aucun(e) |
| Sterling C (Cap.) | GBP | Jusqu’à 5 % | 5 000 000 GBP | 1,00 % | Aucun(e) |
| Euro I (Cap.) (couverte) | EUR | Jusqu’à 5 % | 5 000 000 EUR | 1,00 % | Aucun(e) |
| Euro I (Dist.) (couverte) | EUR | Jusqu’à 5 % | 5 000 000 EUR | 1,00 % | Aucun(e) |

| Actions « G » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | Jusqu’à 5 % | 5 000 USD | 1,00 % | Aucun(e) |
| USD G (Dist.) | USD | Jusqu’à 5 % | 5 000 USD | 1,00 % | Aucun(e) |
| Euro G (Cap.) | EUR | Jusqu’à 5 % | 5 000 EUR | 1,00 % | Aucun(e) |
| Euro G (Dist.) | EUR | Jusqu’à 5 % | 5 000 EUR | 1,00 % | Aucun(e) |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR W (Cap.) | EUR | Jusqu’à 5 % | 15 000 000 EUR | 0,75 % | Aucun(e) |
| EUR W (Dist.) | EUR | Jusqu’à 5 % | 15 000 000 EUR | 0,75 % | Aucun(e) |
| Euro W (Cap.) (couverte) | EUR | Jusqu’à 5 % | 15 000 000 EUR | 0,75 % | Aucun(e) |
| Euro W (Dist.) (couverte) | EUR | Jusqu’à 5 % | 15 000 000 EUR | 0,75 % | Aucun(e) |
| USD W (Cap.) | USD | Jusqu’à 5 % | 15 000 000 USD | 0,75 % | Aucun(e) |
| Sterling W (Cap.) | GBP | Jusqu’à 5 % | 15 000 000 GBP | 0,75 % | Aucun(e) |

| Actions « X » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro X (Cap.) | EUR | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| Euro X (Dist.) | EUR | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| USD X (Cap.) | USD | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| USD X (Dist.) | USD | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| Euro X (Cap.) (couverte) | EUR | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| Euro X (Dist.) (couverte) | EUR | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à assurer l’appréciation du capital à long terme en investissant principalement (c’est-à-dire au moins deux tiers de ses actifs) dans un portefeuille d’actions et titres apparentés de sociétés dont la capitalisation boursière se chiffre à 1 milliard d’USD ou plus au moment de l’acquisition et dont le siège social est situé aux États-Unis ou qui réalisent la majeure
partie de leurs activités économiques dans ce pays.

##### Politique d’investissement
Le Compartiment investira principalement (c’est-à-dire au moins deux tiers de sa Valeur liquidative) dans un portefeuille d’actions et titres apparentés, y compris les obligations convertibles (généralement non notées), les
actions privilégiées convertibles et les bons de souscription (à hauteur de 10 % au plus de la Valeur liquidative du Compartiment pour ces derniers) de sociétés dont la capitalisation boursière se chiffre à
1 milliard d’USD ou plus au moment de l’acquisition et
dont le siège social est situé aux États-Unis ou qui
réalisent la majeure partie de leurs activités économiques dans ce pays.
Le Compartiment pourra également investir dans des certificats représentatifs de titres américains et/ou internationaux cotés ou négociés sur des Marchés éligibles aux États-Unis.
Le Compartiment est habilité à investir jusqu’à un tiers de sa Valeur liquidative dans des actions et titres apparentés de sociétés de toutes tailles implantées aux
États-Unis, ainsi que dans des actions et titres apparentés de sociétés dont le siège social n’est pas situé aux États-Unis, et qui ne réalisent pas la majeure
partie de leurs activités économiques dans ce pays. Le Compartiment n’investira pas dans les pays émergents.
La majeure partie des investissements du Compartiment seront cotés ou négociés sur des Marchés éligibles aux États-Unis. Les autres actifs cotés du Compartiment seront cotés ou négociés sur des Marchés éligibles situés en dehors des États-Unis.
Le Gestionnaire de portefeuille ne sera pas tenu de réaliser les actifs du Compartiment (sauf s’il estime que leur réalisation est dans l’intérêt des Actionnaires) en cas d’infraction involontaire à la politique d’investissement suite à la diminution de la taille d’un émetteur donné.
En outre, le Compartiment n’investira pas plus de 10 % de sa Valeur liquidative globale dans des organismes de placement collectif.

##### Indice de référence
L’indice Russell 1000 Value TR Index (l’« Indice de référence »).
L’Indice de référence est un indice non géré pondéré par la capitalisation boursière d’actions orientées sur la valeur des plus grandes sociétés domiciliées aux États- Unis, incluses dans l’Indice Russell 1000.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour investir en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement.
Bien que la majorité des participations du Compartiment doivent être des composantes de l’Indice de référence et avoir des pondérations similaires à celles de ce dernier, la stratégie d’investissement ne restreint pas la mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.

##### Stratégie d’investissement
Le Gestionnaire de portefeuille appliquera une stratégie de gestion dynamique du portefeuille d’actions, dont les principales caractéristiques sont les suivantes :
- capacité à investir principalement dans les titres de sociétés dont la capitalisation boursière se chiffre à1 milliard USD ou plus au moment de l’acquisition ;
- volonté d’appliquer des pondérations sectorielles et industrielles concentrées ; et
- concentration sur la recherche de l’alpha et moindre importance de l’erreur de suivi.

Le Gestionnaire de portefeuille est convaincu qu’un investissement réussi est possible grâce une philosophie
orientée sur la valeur et axée sur la recherche et le contrôle du risque :
Orientation sur la valeur
- L’accent est mis sur les actions présentant une valorisation intéressante par rapport au marché, au secteur et aux performances passées.
- Les écueils de la valeur et de l’avant-gardisme sont évités en combinant des mesures de valorisation traditionnelles et des sociétés qui présentent uneamélioration de leur situation commerciale ainsi que de solides fondamentaux.

Orientation sur la recherche
- Recourir à des ressources de recherche fondamentale exclusives comprenant les performances passées, mais axées sur l’avenir.
- Reconnaitre qu’il n’existe pas de solution unique. Adapter les différentes analyses pour trouver lesbonnes sociétés, les bons secteurs et les bonnes variables macro.

Contrôle du risque
- Recourir à des contrôles de risques à toutes les étapes du processus de construction du portefeuille, afin de minimiser les expositions involontaires et de garantir que la performance résultera de la sélection des titres.
- Fixer des objectifs de cours à la hausse ou à la baisse préalablement à l’ouverture de nouvelles positions.


##### Processus
Étape 1 : Détermination de l’univers d’investissement
Cette étape vise à analyser toutes les actions américaines potentielles, afin d’en identifier 20 à 30 à inclure dans une liste de base fondamentale. Le
Gestionnaire de portefeuille applique alors des critères
quantitatifs et peut également recourir à des critères qualitatifs pour découvrir des opportunités d’alpha n’apparaissant pas encore dans les données quantitatives. Les deux méthodes permettent d’identifier les titres à prendre éventuellement en considération.
Cette étape débouche sur la recherche fondamentale, qui constitue la deuxième étape.
Étape 2 : recherche fondamentale
Une fois la liste de base établie, le Gestionnaire de portefeuille effectue une recherche fondamentale sur ces noms, au regard de la couverture sectorielle recherchée. Le Gestionnaire de portefeuille emploie de nombreuses ressources, notamment sa propre équipe de recherche
mondiale, et diverses approches selon les cas. L’analyste de l’équipe émet ensuite une recommandation d’achat ou non en fonction des objectifs de cours à la hausse ou à la baisse, des facteurs de la théorie d’investissement
(valorisation, fondamentaux, progression commerciale) et
des risques potentiels.
Étape 3 : construction du portefeuille
Le principal gestionnaire de portefeuille a le dernier mot quant à l’ajout ou non d’un titre et à sa pondération spécifique. Les décisions prises lors de cette dernière
étape interviennent dans le cadre du profil de risque global du portefeuille. Il en résulte un portefeuille de valeurs à large capitalisation intéressant du point de vue
du rapport risque/rendement et conforme à l’objectif d’investissement global du client et aux directives connexes.

#### Enregistrement en Allemagne
Ce Compartiment est enregistré à la vente en Allemagne. Le Compartiment est classé en tant que Fonds
d’investissement aux fins de l’impôt allemand et, à ce
titre, il investira en permanence plus de 50 % de ses actifs en actions au sens de l’Article 2, paragraphe 8 de la Loi allemande sur la fiscalité des investissements.

#### Enregistrement à Hong Kong
Ce Compartiment est enregistré à la vente à Hong Kong.

#### Émission d’Actions
L’offre initiale (la « Période d’offre initiale ») pour toutes les catégories d’actions lancées du Compartiment est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 30 avril 2021 ou jusqu’à une date antérieure ou ultérieure à celle où les premières actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre
initiale prendra automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 £ ou 1 € selon la devise de la catégorie concernée (majoré, le cas échéant, de la
commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Rachat d’Actions
Les Actions de chaque catégorie pourront être rachetées, à la discrétion de l’Actionnaire concerné, tout Jour d’évaluation à l’Heure d’évaluation. Le Prix de rachat est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation, diminuée de la
commission de rachat applicable.
Toutes les demandes de rachat d’actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Restrictions en matière d’investissement et d’emprunt
Les restrictions en matière d’investissement et d’emprunt du Compartiment sont définies sous la section du Prospectus intitulée « La Société – Restrictions en matière d’investissement et d’emprunt ».

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 50 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés,
options, swaps, contrats sur différence, titres avec IFD intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de gestion efficace de portefeuille (GEP), sous réserve des conditions et limites posées par la Réglementation
OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société – Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.
Le Compartiment ne conclura pas d’opérations de couverture du risque de change croisées.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des opérations de financement sur titres (« OFT »), soit des accords de prêt de titres, comme décrit ci-dessous à la rubrique du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’accords de prêt de titres seront les actifs dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la
contrepartie sont fournis aux sections du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Couverture des catégories d’actions
Ce Compartiment propose des catégories d’actions couvertes. Ces catégories d’actions sont indiquées par le suffixe « (couverte) ». Veuillez consulter la section intitulée « Couverture des catégories d’actions » dans le
Prospectus pour plus d’informations sur le fonctionnement et l’impact des catégories d’actions couvertes.

#### Politique de distribution
Dans le cas de la catégorie d’actions « USD X (Dist.) », les dividendes seront normalement déclarés
trimestriellement, les 31 décembre, 31 mars, 30 juin et 30 septembre, et versés au plus tard les 11 février, 11 mai, 11 août et 11 novembre.
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), à l’exception de la catégorie d’actions de distribution « USD X (Dis) », les dividendes seront normalement déclarés annuellement le 31 décembre. Concernant les détenteurs d’Actions de distribution, les dividendes déclarés leur seront
normalement versés au plus tard le 11 février. De plus amples informations sont disponibles à la section « La
Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Euroland Bond Fund

### SUPPLÉMENT 10, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Insight Investment Management (Global) Limited
Le Gestionnaire de portefeuille peut déléguer ses fonctions de gestion à un Gestionnaire de portefeuille délégué et/ou désigner un conseiller en investissement délégué pour assurer un service de conseil en investissement conformément aux exigences de la Banque centrale. À la date du présent Supplément, le Gestionnaire de portefeuille a désigné le Gestionnaire de portefeuille délégué indiqué ci-dessous.

#### Gestionnaire de portefeuille délégué
Le Gestionnaire de portefeuille peut déléguer certaines
ou la totalité de ses fonctions de gestion d’investissement eu égard au présent Compartiment à Insight North America LLC (le « Gestionnaire de
portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique
« Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Euro

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée occasionnellement par les Administrateurs, à condition
que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’Heure limite de négociation des demandes de souscription, de rachat ou d’échange est fixée à 17 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro A | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| USD A (Cap.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| CHF H (couverte) | CHF | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling H (Cap.) (couverte) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling H (Dist.) (couverte) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| USD H (Cap.) (couverte) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD H (Dist.) (couverte) | USD | 5 000 | 5 % | 1,00 % | 0 % |

| Actions « B » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro B | EUR | 10 000 | 5 % | 0,75 % | 0 % |
| Euro B (Dist.) | EUR | 10 000 | 5 % | 0,75 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 0,50 % | 0 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 0,50 % | 0 % |
| USD G (Cap.) (couverte) | USD | 5 000 | 5 % | 0,50 % | 0 % |
| USD G (Dist.) (couverte) | USD | 5 000 | 5 % | 0,50 % | 0 % |
| CHF G (Cap.) (couverte) | CHF | 5 000 | 5 % | 0,50 % | 0 % |
| CHF G (Dist.) (couverte) | CHF | 5 000 | 5 % | 0,50 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro C | EUR | 5 000 000 | 5 % | 0,50 % | 0 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 0,50 % | 0 % |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 0,50 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 0,50 % | 0 % |
| Sterling C (Dist.) | GBP | 5 000 000 | 5 % | 0,50 % | 0 % |
| Sterling C (Cap.) | GBP | 5 000 000 | 5 % | 0,50 % | 0 % |
| CHF I (couverte) | CHF | 5 000 000 | 5 % | 0,50 % | 0 % |
| Sterling I (Cap.) (couverte) | GBP | 5 000 000 | 5 % | 0,50 % | 0 % |
| Sterling I (Dist.) (couverte) | GBP | 5 000 000 | 5 % | 0,50 % | 0 % |
| USD I (Cap.) (couverte) | USD | 5 000 000 | 5 % | 0,50 % | 0 % |
| USD I (Dist.) (couverte) | USD | 5 000 000 | 5 % | 0,50 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,45 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,45 % | 0 % |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,45 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,45 % | 0 % |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,45 % | 0 % |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,45 % | 0 % |
| CHF W (Cap.) | CHF | 15 000 000 | 5 % | 0,45 % | 0 % |
| CHF W (Dist.) | CHF | 15 000 000 | 5 % | 0,45 % | 0 % |
| USD W (Cap.) (couverte) | USD | 15 000 000 | 5 % | 0,45 % | 0 % |
| USD W (Dist.) (couverte) | USD | 15 000 000 | 5 % | 0,45 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,45 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,45 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,45 % | 0 % |
| CHF W (Dist.) (couverte) | CHF | 15 000 000 | 5 % | 0,45 % | 0 % |

| Actions « Z » et Actions « Z (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro Z (Dist.) | EUR | 200 000 000 | 5 % | 0,40 % | 0 % |
| Euro Z (Cap.) | EUR | 200 000 000 | 5 % | 0,40 % | 0 % |
| USD Z (Cap.) (couverte) | USD | 200 000 000 | 5 % | 0,40 % | 0 % |
| USD Z (Dist.) (couverte) | USD | 200 000 000 | 5 % | 0,40 % | 0 % |
| Sterling Z (Cap.) (couverte) | GBP | 200 000 000 | 5 % | 0,40 % | 0 % |
| Sterling Z (Dist.) (couverte) | GBP | 200 000 000 | 5 % | 0,40 % | 0 % |
| CHF Z (Cap.) (couverte) | CHF | 200 000 000 | 5 % | 0,40 % | 0 % |
| CHF Z (Dist.) (couverte) | CHF | 200 000 000 | 5 % | 0,40 % | 0 % |

| Actions « X » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à générer un rendement total supérieur à l’Indice de Référence (par rapport auquel ses performances seront comparées) en investissant principalement (c’est-à-dire au moins 90 % de ses actifs) dans un portefeuille d’obligations à revenu fixe et autres
titres de créance émis par des sociétés ou tout
gouvernement, agence gouvernementale, organisme supranational ou organisme public international, ou dans des produits dérivés.
Le Compartiment prévoit de réaliser la majorité de ses investissements dans les Pays de la zone euro (c’est-à- dire les pays dont la devise est l’euro) (voir la rubrique
« Politique d’investissement »).

##### Politique d’investissement
Le Compartiment sera un portefeuille entièrement investi et ses investissements incluront des obligations d’État, des obligations d’agence gouvernementale, des obligations d’entreprise, des obligations adossées à des créances hypothécaires et à des actifs négociées sur un
Marché éligible, ou des IFD.
Au moins deux tiers de la Valeur liquidative du Compartiment seront investis dans des titres dont les émetteurs sont implantés dans les Pays de la zone euro.
L’exposition minimale du Compartiment aux titres libellés en euros sera de 60 % de sa Valeur liquidative et son exposition minimale à l’euro sera de 90 %.
Les titres dans lesquels le Compartiment est habilité à investir seront notés de AAA à B.
Le Compartiment peut investir jusqu’à 30 % de sa Valeur liquidative dans des IFD, sous réserve qu’il investisse les deux tiers au moins de sa Valeur liquidative en
obligations.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative en prêts, participations à des prêts ou cessions de prêts à des emprunteurs (qui peuvent être
des sociétés, des gouvernements souverains, des organismes publics ou autres) qui seront des instruments du marché monétaire.
En outre, le Compartiment ne peut pas investir plus de 10 % de sa Valeur liquidative au total dans des organismes de placement collectif (« OPC »).
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des titres de créance en République populaire de Chine (« RPC ») négociés sur le marché
obligataire interbancaire chinois (« CIBM ») via le Bond Connect (ci-après décrit à l’Annexe VI au Prospectus).
Politique de diversification géographique
Le Compartiment se consacrera à la sélection individuelle de titres plutôt qu’à toute tentative de prédiction des pays susceptibles de réaliser de bonnes performances.
Toutefois, l’allocation géographique du Compartiment est susceptible de différer de l’indice Bloomberg Barclays Euro Aggregate Bond TR Index (l’« Indice de Référence ») en raison du processus de sélection de titres. L’écart maximal par rapport à l’Indice de Référence devrait être de l’ordre de 40 %.
En règle générale, aucun pays ne représentera plus de 80 % de la Valeur liquidative du Compartiment.
Politique de diversification sectorielle
Le Compartiment se consacrera à la sélection individuelle de titres plutôt qu’à toute tentative de prédiction des secteurs susceptibles de réaliser de bonnes performances. Toutefois, l’affectation sectorielle du Compartiment est susceptible de différer de celle de
l’Indice de Référence en raison du processus de sélection de titres. L’écart maximal par rapport à l’Indice de référence devrait être de l’ordre de 50 %.
En règle générale, la pondération d’un même secteur industriel ne dépassera pas 20 % de la Valeur liquidative du Compartiment.
Duration
Le Compartiment appliquera une stratégie de contrôle de la duration en mettant l’accent sur la sélection des secteurs et des titres.
Le Compartiment minimisera l’utilisation du risque de taux d’intérêt en maintenant la duration moyenne pondérée du portefeuille (liquidités incluses) dans une fourchette de +/- 40 % par rapport à celle de l’Indice de
Référence.
Le Gestionnaire de portefeuille étant autorisé à modifier
la duration du Compartiment par rapport à celle de l’Indice de Référence, rien ne permet de garantir que sa performance suivra celle de l’Indice de Référence et, en fonction des circonstances, qu’il pourra surperformer ou sous-performer l’Indice de Référence.
Nombre de participations
En règle générale, aucune participation en obligations garanties par l’État ne représente plus de 25 % du Compartiment à la date d’acquisition et aucune participation en obligations d’entreprise ou autres titres à taux d’intérêt fixe ne représente plus de 5 % du
Compartiment.
Le Compartiment peut également investir jusqu’à 10 % de sa Valeur liquidative dans d’autres OPC à capital variable afin de diversifier ses investissements en obligations d’entreprise, en obligations à haut rendement et en titres
de créance de marchés émergents.
Processus de sélection des titres et notations de crédit :
La stratégie intensive du Compartiment reposera
principalement sur une analyse de qualité de crédit approfondie et s’efforcera d’identifier des alternatives sûres, mais de meilleur rendement aux obligations d’État qui dominent le principal indice du Compartiment. Afin de
générer une valeur relative à un niveau intermédiaire, le Compartiment visera également à opérer un roulement tactique entre les secteurs généraux dans lesquels le Compartiment est habilité à investir.
Les titres dans lesquels le Compartiment est habilité à investir seront notés dans les catégories AAA à B. Il maintiendra une note de qualité moyenne égale ou supérieure à A/A3 par au moins une grande Agence de notation reconnue.
La note de qualité minimale pour un titre individuel est fixée à B-/B3.
Le Compartiment peut investir jusqu’à 25 % de sa Valeur liquidative dans les catégories BB+/Ba1 et B-/ B3.
Le Compartiment peut investir jusqu’à 40 % de sa Valeur liquidative dans une combinaison de titres de créance d’entreprise à haut rendement, convertibles, privilégiés et de marchés émergents.
Positions de liquidités
Le Compartiment vise à rester entièrement investi en toutes circonstances et à maintenir des positions de
liquidités modestes, en tant qu’actifs liquides à titre
accessoire, ne dépassant généralement pas 5 % de sa
Valeur liquidative. Toutefois, en période de souscriptions exceptionnellement élevées, la position de liquidités peut excéder ce niveau pour une courte durée, à hauteur de 10 % au plus.
Couverture du risque de change
Le Compartiment s’efforcera de minimiser son exposition au risque de change associé aux devises autres que l’euro en limitant son exposition à ces devises à 10 % de sa Valeur liquidative. Toute exposition excédant ce montant sera intégralement couverte par rapport à l’euro, au moyen de contrats de change à terme.
La couverture croisée du risque de change est autorisée, sous réserve qu’elle ne se traduise pas par des positions à découvert après comptabilisation des actifs sous-
jacents.
Il est prévu de ne recourir à une couverture croisée du risque de change que dans des circonstances inhabituelles.

##### Indice de référence
L’indice Bloomberg Barclays Euro Aggregate Bond TR Index (l’« Indice de référence »)
L’Indice de référence inclut des obligations à taux fixe libellées en euros de qualité investment grade. La sélection repose sur la devise de l’émission, et non sur le lieu de domiciliation de l’émetteur. Il inclut principalement les titres du Trésor, d’entreprise, d’organismes gouvernementaux et ceux issus de la titrisation.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que le Gestionnaire de portefeuille a tout pouvoir pour investir
en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement. Bien que la majorité des participations du Compartiment doivent être des composantes de l’Indice de référence et
avoir des pondérations similaires à celles de ce dernier, la stratégie d’investissement ne restreint pas la mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.

##### Stratégie d’investissement
Le Gestionnaire de portefeuille emploie une approche dynamique et active de gestion de portefeuille impliquant
des investissements dans une gamme étendue d’instruments à revenu fixe, d’instruments en devises et d’IFD (ainsi que décrit ci-dessus dans la rubrique
« Politique d’investissement » et ci-dessous dans la rubrique « Utilisation d’IFD ») afin de réduire le risque grâce à la diversification et d’améliorer les rendements
potentiels.
Le Gestionnaire de portefeuille effectue une recherche
macroéconomique descendante et une sélection de titres ascendante. Le processus d’investissement est essentiellement fondé sur la recherche fondamentale, mais utilise aussi des données quantitatives. L’analyse descendante implique le recours à plusieurs modèles de
valorisation exclusifs, servant à évaluer les devises et taux d’intérêt et à déterminer la valorisation relative des divers segments obligataires. Le processus de recherche
fondamentale du Gestionnaire de portefeuille implique
une recherche spécifique au niveau du pays et des titres, afin de déterminer la solvabilité d’un émetteur.
Au moins deux tiers de la Valeur liquidative du Compartiment seront investis dans des titres dont les
émetteurs sont implantés dans les Pays de la zone euro. L’exposition minimale du Compartiment aux titres libellés
en euros sera de 60 % et son exposition minimale à la devise euro sera de 90 %. La majorité des obligations, titres de créance et apparentés et IFD seront cotés ou négociés sur un Marché éligible.

##### Règlement sur la publication d’informations en matière de finance durable
La gestion du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque
en matière de durabilité associé aux investissements sous-jacents, il évalue le risque qu’un événement ou une condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Dans le cadre de son processus de recherche de titres ascendant, le Gestionnaire de portefeuille évalue les facteurs environnementaux, sociaux et de gouvernance de chaque investissement du portefeuille afin de déterminer les risques potentiels en matière de
durabilité. Ces facteurs peuvent inclure, sans toutefois s’y limiter, un impact des émetteurs sur l’environnement, y compris les émissions, l’utilisation des sols et les pratiques en matière de déchets, ainsi que les politiques et pratiques sociales d’un émetteur, dont les questions
relatives aux employés, les pratiques de gestion de la chaîne d’approvisionnement et les politiques relatives aux droits de l’homme. La recherche sur le crédit interne du Gestionnaire de portefeuille inclut des ressources telles
que le score ESG établi par le Gestionnaire de portefeuille, et est complétée par des informations en provenance de tiers, notamment les données et notations ESG de MSCI, les données ESG de Bloomberg, le Guide
d’engagement du Sustainability Accounting Standards
Board (SASB), les rapports des agences de notation de
crédit, les études sell-side et les événements relatifs au secteur concerné. Cette étude des risques en matière de durabilité est prise en compte dans le processus de sélection de titres, de même que la recherche
macroéconomique et l’analyse de crédit menées par le
Gestionnaire de portefeuille.
Le Gestionnaire de portefeuille évalue également les
pratiques de gouvernance des émetteurs par le biais d’une recherche fondamentale, complétée par des évaluations et notations de tiers, notamment en ce qui
concerne de saines structures de direction, les relations avec les employés, la rémunération du personnel et la conformité en matière de fiscalité.
Le Gestionnaire de portefeuille contrôle régulièrement les facteurs de durabilité et les expositions au risque en examinant les rapports de notation ESG de tiers et ceux établis en interne par son équipe.
Comme expliqué ci-dessus, la gestion et l’évaluation des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours
possible qu’un Événement ESG ait une incidence négative importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les
incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs
de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du
régime en matière de reporting. Le Gestionnaire continue d’analyser les données disponibles qui seraient nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins
d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur obligation d’État Contrats à terme standardisés sur devises Contrats à terme standardisés sur le marché monétaire |
| --- | --- |
| Options | Options sur contrats à terme standardisés d’obligation d’État Options sur contrats à terme standardisés de devises Options sur devises (y compris options de change) Swaptions |
| Contrats à terme (livra- bles et non livrables) | Contrats de change à terme |
| Swaps | Swaps de défaut de crédit (sur valeur individuelle, indice et panier personnalisé) Swaps de taux d’intérêt Swaps de rendement total (sur valeur individuelle, crédit, indice, secteur et panier personnalisé) Swaps d’inflation |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de gestion efficace de portefeuille (GEP). Le Compartiment utilise les indices financiers suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | Markit CDX American Investment Grade High Volatility Index Markit CDX North American Investment Grade Index Markit CDX North American High Yield Index Markit CDX North American High Yield Beta Index Markit CDX Emerging Markets Index Markit CDX Emerging Markets Diversified Index Markit iTraxx Europe Index Markit iTraxx Crossover Index Markit iTraxx Financial Index Markit iTraxx Subordinated Financial Index |
| Indices de taux d’intérêt utilisés pour offrir une exposition aux marchés de taux d’intérêt et exprimer le point de vue des gestionnaires selon lequel la courbe de rendement évoluera dans une direction particulière, d’une manière plus rentable ou plus efficiente qu’avec l’achat de titres physiques. | EURIBOR LIBOR SOFR SONIA |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Les
indices financiers restants seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages,
les coûts associés ou la pondération des actions de l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.
Exposition globale et effet de levier 
Méthodologie de calcul de l’exposition globale : VaR relative
Limite de VaR relative : Le portefeuille du Compartiment ne dépassera pas le double de la VaR d’un portefeuille de référence représentatif (sur la base d’une période de détention de 20 Jours ouvrables).
Indice de référence de la VaR relative : Bloomberg Barclays Euro Aggregate Bond Index
L’effet de levier brut devrait varier entre : 100 – 500 % de la Valeur liquidative. L’effet de levier brut peut toutefois dépasser ce niveau cible à certains moments.
Pour plus d’informations sur l’approche de la VaR relative et l’Effet de levier brut, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et Effet de levier » dans le Prospectus.

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des OFT, c’est à
dire des accords de prêt de titres et des accords de
mise/prise en pension, comme décrit sous la rubrique
« Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et aux OFT correspondent respectivement à 10 % et 100 %
de sa Valeur liquidative. Il n’est toutefois pas prévu que
ces expositions respectives aux TRS et aux OFT excèdent 10 % et 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet de TRS et OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 £, 1 € ou 1 CHF selon la devise de la catégorie concernée (majoré, le cas échéant, de la
commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés trimestriellement, les
31 décembre, 31 mars, 30 juin et 30 septembre. En ce qui concerne les détenteurs d’Actions de distribution, les dividendes déclarés seront normalement versés au plus
tard le 11 février, le 11 mai, le 11 août et le 11 novembre, respectivement. De plus amples informations sont
disponibles à la section « La Société – Politique de
distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Emerging Markets Debt Fund

### SUPPLÉMENT 11, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Insight Investment Management (Global) Limited
Le Gestionnaire de portefeuille peut déléguer ses fonctions de gestion à un Gestionnaire de portefeuille délégué et/ou désigner un conseiller en investissement délégué pour assurer un service de conseil en investissement conformément aux exigences de la Banque centrale. À la date du présent Supplément, le Gestionnaire de portefeuille a désigné le Gestionnaire de portefeuille délégué indiqué ci-dessous.

#### Gestionnaire de portefeuille délégué
Le Gestionnaire de portefeuille peut déléguer certaines
ou la totalité de ses fonctions de gestion d’investissement eu égard au présent Compartiment à Insight North America LLC (le « Gestionnaire de
portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique
« Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée occasionnellement par les Administrateurs, à condition
que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro A | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| USD A | USD | 5 000 | 5 % | 1,50 % | 0 % |
| Euro H (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| Euro H (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| Sterling H (Cap.) (couverte) | GBP | 5 000 | 5 % | 1,50 % | 0 % |
| Sterling H (Dist.) (couverte) | GBP | 5 000 | 5 % | 1,50 % | 0 % |

| Actions « G » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro C | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling C (Dist.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling C (Cap.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling I (Cap.) (couverte) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling I (Dist.) (couverte) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| USD W | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |

| Actions « X » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment a pour objectif de réaliser un rendement total important à partir d’un portefeuille d’obligations et autres instruments de créance de marchés émergents internationaux ou de produits
dérivés.

##### Politique d’investissement
Le Compartiment investira principalement dans un portefeuille d’obligations et autres titres de créance (par exemple, des obligations et des billets internationaux à taux fixe ou variable d’État, d’agence gouvernementale
supranationale, d’entreprise et de banque, des
obligations Brady ou Yankee, ainsi que des titres adossés
à des créances hypothécaires) de marchés émergents ou dans des IFD.
Le Compartiment investira au moins deux tiers de sa Valeur liquidative dans des obligations classiques émises par des émetteurs situés ou qui exercent la majeure partie de leurs activités économiques dans des pays
émergents, et un tiers de ses actifs au plus dans des instruments monétaires dont l’échéance est inférieure à 12 mois.
Le Compartiment pourra investir maximum 25 % de sa Valeur liquidative dans des obligations convertibles et 10 % dans des actions et titres apparentés, y compris
dans des actions privilégiées convertibles et des bons de souscription.
Le Compartiment peut également investir jusqu’à 10 % de sa Valeur liquidative en prêts (y compris des
participations à des prêts/bons de participation à des prêts ou des cessions de prêts), qui seront soit des valeurs mobilières, soit des instruments du marché monétaire.
Le Compartiment pourra investir jusqu’à 20 % de sa Valeur liquidative en titres cotés ou négociés sur des marchés russes.
Ces titres seront cotés ou négociés sur des Marchés éligibles dans le monde entier.
La qualité de crédit et l’échéance des titres concernés n’auront pas d’impact sur les décisions d’investissement prises par le Gestionnaire de portefeuille. Par
conséquent, les investissements du Compartiment ne seront pas soumis à une notation de crédit minimum.
En outre, le Compartiment n’investira pas plus de 10 % de sa Valeur liquidative globale dans des organismes de placement collectif.

##### Indice de référence
L’indice JP Morgan Emerging Markets Bond Index (EMBI) Global TR Index (l’« Indice de référence »).
L’Indice de référence mesure le rendement total des instruments de créance externes négociés sur les
marchés émergents, et constitue une version étendue du JPMorgan EMBI+. Comme pour l’EMBI+, l’EMBI Global inclut des obligations Brady libellées en dollars
américains, des prêts et des euro-obligations avec une valeur nominale en circulation d’au moins 500 millions d’USD. Il couvre plus d’instruments éligibles que l’EMBI+ en allégeant quelque peu les limites strictes de l’EMBI+ sur la liquidité du marché secondaire.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour investir en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement.
Bien que la majorité des participations du Compartiment doivent être des composantes de l’Indice de référence et avoir des pondérations similaires à celles de ce dernier, la stratégie d’investissement ne restreint pas la mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.

##### Stratégie d’investissement
Le processus d’investissement est largement ascendant et fondamental, mais il est également étayé par la
rigueur des modèles quantitatifs. Il est orienté vers la surpondération des pays connaissant des évolutions
profondes et positives et la sous-pondération, voire l’évitement pur et simple de ceux dont la devise et/ou les obligations sont surtout soutenues par des flux de
capitaux exceptionnels, susceptibles de connaître un revers rapide à l’avenir. L’allocation pays repose sur une analyse descendante des variables macroéconomiques, financières et politiques. L’environnement de risque mondial et les paramètres techniques du marché sont
également soigneusement examinés.
Le Compartiment investira au moins les deux tiers de sa Valeur liquidative dans des titres d’émetteurs locaux de pays émergents du monde entier (et/ou y exerçant la
majeure partie de leur activité économique).

##### Règlement sur la publication d’informations en matière de finance durable
La gestion du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque
en matière de durabilité associé aux investissements sous-jacents, il évalue le risque qu’un événement ou une condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Dans le cadre de son processus de recherche de titres ascendant, le Gestionnaire de portefeuille évalue les facteurs environnementaux, sociaux et de gouvernance de chaque investissement du portefeuille afin de déterminer les risques potentiels en matière de
durabilité. Ces facteurs peuvent inclure, sans toutefois s’y limiter, un impact des émetteurs sur l’environnement, y compris les émissions, l’utilisation des sols et les
pratiques en matière de déchets, ainsi que les politiques et pratiques sociales d’un émetteur, dont les questions relatives aux employés, les pratiques de gestion de la chaîne d’approvisionnement et les politiques relatives aux
droits de l’homme. La recherche sur le crédit interne du
Gestionnaire de portefeuille inclut des ressources telles
que le score ESG établi par le Gestionnaire de portefeuille, et est complétée par des informations en provenance de tiers, notamment les données et notations ESG de MSCI, les données ESG de Bloomberg, le Guide
d’engagement du Sustainability Accounting Standards
Board (SASB), les rapports des agences de notation de
crédit, les études sell-side et les événements relatifs au secteur concerné. Cette étude des risques en matière de durabilité est prise en compte dans le processus de sélection de titres, de même que la recherche
macroéconomique et l’analyse de crédit menées par le
Gestionnaire de portefeuille.
Le Gestionnaire de portefeuille évalue également les
pratiques de gouvernance des émetteurs par le biais d’une recherche fondamentale, complétée par des évaluations et notations de tiers, notamment en ce qui
concerne de saines structures de direction, les relations avec les employés, la rémunération du personnel et la conformité en matière de fiscalité.
Le Gestionnaire de portefeuille contrôle régulièrement les facteurs de durabilité et les expositions au risque en examinant les rapports de notation ESG de tiers et ceux établis en interne par son équipe.
Comme expliqué ci-dessus, la gestion et l’évaluation des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du
Gestionnaire de portefeuille. Toutefois, il est toujours possible qu’un Événement ESG ait une incidence négative importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences
négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en
Bourse ou de gré à gré suivants, à des fins d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur obligation d’État Contrats à terme standardisés sur devises Contrats à terme standardisés sur le marché monétaire |
| --- | --- |
| Options | Options sur contrats à terme standardisés d’obligation d’État Options sur contrats à terme standardisés de devises Options sur devises (y compris options de change) Options sur obligations |
| Contrats à terme (livra- bles et non livrables) | Contrats de change à terme |
| Swaps | Swaps de défaut de crédit (sur valeur individuelle, indice et panier personnalisé) Swaps de taux d’intérêt Swaps de rendement total (sur valeur individuelle, crédit, indice, secteur et panier personnalisé) |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de gestion efficace de portefeuille
(GEP). Le Compartiment utilise les indices financiers suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | Markit CDX American Investment Grade High Volatility Index Markit CDX North American Investment Grade Index Markit CDX North American High Yield Index Markit CDX North American High Yield Beta Index Markit CDX Emerging Markets Index Markit CDX Emerging Markets Diversified Index Markit iTraxx Europe Index Markit iTraxx Crossover Index Markit iTraxx Financial Index Markit iTraxx Subordinated Financial Index |
| Indices de taux d’intérêt utilisés pour offrir une exposition aux marchés de taux d’intérêt et exprimer le point de vue des gestionnaires selon lequel la courbe de rendement évoluera dans une direction particulière, d’une manière plus rentable ou plus efficiente qu’avec l’achat de titres physiques. | EURIBOR LIBOR SOFR SONIA |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Les
indices financiers restants seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages, les coûts associés ou la pondération des actions de
l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.
Exposition globale et effet de levier 
Méthodologie de calcul de l’exposition globale : VaR relative
Limite de VaR relative : Le portefeuille du Compartiment ne dépassera pas le double de la VaR d’un portefeuille de référence représentatif (sur la base d’une période de détention de 20 Jours ouvrables).
Indice de référence de la VaR relative : JP Morgan Emerging Markets Bond Index (EMBI) Global Index
L’effet de levier brut devrait varier entre : 0 – 300 % de la Valeur liquidative. L’effet de levier brut peut toutefois dépasser ce niveau cible à certains moments.
Pour plus d’informations sur l’approche de la VaR relative et l’Effet de levier brut, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et Effet de levier » dans le Prospectus.

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des OFT, c’est à
dire des accords de prêt de titres et des accords de
mise/prise en pension, comme décrit sous la rubrique
« Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et aux OFT correspondent respectivement à 10 % et 100 %
de sa Valeur liquidative. Il n’est toutefois pas prévu que
ces expositions respectives aux TRS et aux OFT excèdent 10 % et 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet de TRS et OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 £, 1 € ou 1 CHF selon la devise de la catégorie concernée (majoré, le cas échéant, de la
commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout
intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés trimestriellement, les
31 décembre, 31 mars, 30 juin et 30 septembre. En ce qui concerne les détenteurs d’Actions de distribution, les dividendes déclarés seront normalement versés au plus
tard le 11 février, le 11 mai, le 11 août et le 11 novembre, respectivement. De plus amples informations sont
disponibles à la section « La Société – Politique de
distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Emerging Markets Debt Local Currency Fund

### SUPPLÉMENT 12, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. L’utilisation d’IFD à des fins d’investissement sera limitée. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- La Valeur liquidative du Compartiment peut faire l’objet d’une volatilité élevée en raison de sa politique d’investissement.
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Insight Investment Management (Global) Limited
Le Gestionnaire de portefeuille peut déléguer ses fonctions de gestion à un Gestionnaire de portefeuille délégué et/ou désigner un conseiller en investissement délégué pour assurer un service de conseil en investissement conformément aux exigences de la Banque centrale. À la date du présent Supplément, le Gestionnaire de portefeuille a désigné le Gestionnaire de portefeuille délégué indiqué ci-dessous.

#### Gestionnaire de portefeuille délégué
Le Gestionnaire de portefeuille peut déléguer certaines ou la totalité de ses fonctions de gestion
d’investissement eu égard au présent Compartiment à
Insight North America LLC (le « Gestionnaire de
portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique
« Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les
tableaux ci-après et se différencient par leur devise de référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD A | USD | 5 000 | 5 % | 1,50 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 1,50 % | 0 % |
| Euro A | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| Sterling A (Cap.) | GBP | 5 000 | 5 % | 1,50 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Sterling A (Dist.) | GBP | 5 000 | 5 % | 1,50 % | 0 % |
| Euro H (couverte) | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| Sterling H (Cap.) (couverte) | GBP | 5 000 | 5 % | 1,50 % | 0 % |
| Sterling H (Dist.) (couverte) | GBP | 5 000 | 5 % | 1,50 % | 0 % |
| CHF H (Cap.) (couverte) | CHF | 5 000 | 5 % | 1,50 % | 0 % |

| Actions « B » et Actions « J (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Sterling B (Cap.) | GBP | 10 000 | 5 % | 1,25 % | 0 % |
| Sterling J (Dist.) (couverte) | GBP | 10 000 | 5 % | 1,25 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Cap.) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Dist.) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Cap.) (couverte) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Dist.) (couverte) | GBP | 5 000 | 5 % | 1,00 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD C | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro C | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling C (Cap.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling C (Dist.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| CHF I (Cap.) (couverte) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD W | USD | 15 000 000 | 5 % | 0,65 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,65 % | 0 % |
| Euro W | EUR | 15 000 000 | 5 % | 0,65 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,65 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Euro W (couverte) | EUR | 15 000 000 | 5 % | 0,65 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,65 % | 0 % |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,65 % | 0 % |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,65 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,65 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,65 % | 0 % |

| Actions « X » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD X | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Dist.) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| JPY X (Cap.) | JPY | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment a pour objectif de réaliser un rendement total supérieur à partir d’un portefeuille d’obligations et autres instruments de créance(y compris des produits dérivés portant sur de tels titres) de
marchés émergents.

##### Politique d’investissement
Le Compartiment investira principalement dans un portefeuille d’obligations et autres titres de créance de marchés émergents libellés dans la devise locale d’émission (par exemple, des obligations structurées et des obligations internationales à taux fixe ou variable
souveraines, d’État, d’organisation supranationale, d’agence gouvernementale ou d’entreprise, ainsi que des titres adossés à des créances hypothécaires ou à d’autres types d’actifs) ou dans des IFD portant sur de
tels titres.
Le Compartiment pourra également investir dans d’autres obligations libellées dans une devise forte. Lesdits
marchés émergents pourront comprendre, sans que cette liste soit limitative, l’Argentine, le Brésil, le Chili, la Chine, la Colombie, la République tchèque, l’Égypte, la
Hongrie, l’Inde, l’Indonésie, Israël, la Jordanie, la Corée, la
Malaisie, le Mexique, le Maroc, le Pakistan, le Pérou, les Philippines, la Pologne, la Russie, l’Afrique du Sud, Taiwan, la Thaïlande, la Turquie et le Venezuela.
Le Compartiment investira au moins deux tiers du total de sa Valeur liquidative dans des obligations et autres titres de créance, ou des IFD portant sur de tels titres, émis par des émetteurs situés ou qui exercent la majeure partie de leurs activités économiques dans des pays
émergents, et maximum un tiers de sa Valeur liquidative dans des instruments monétaires dont l’échéance est inférieure à 12 mois.
Le Compartiment peut investir un maximum de 25 % de sa Valeur liquidative en obligations convertibles.
En outre, le Compartiment n’investira pas plus de 10 % de sa Valeur liquidative globale dans des organismes de placement collectif.
Ces titres seront cotés ou négociés sur des Marchés éligibles dans le monde entier.
Le Compartiment n’investira pas dans des actions ou titres apparentés.
La qualité de crédit et l’échéance des titres concernés n’auront pas d’impact sur les décisions d’investissement prises par le Gestionnaire de portefeuille. Par
conséquent, les investissements du Compartiment ne
seront pas soumis à une notation de crédit minimum et pourront être d’une qualité inférieure à investment grade.
Le Compartiment peut investir plus de 10 % et jusqu’à 35 % de sa Valeur liquidative dans des titres de créance émis et/ou garantis par un même émetteur souverain (y
compris son gouvernement ou des autorités publiques ou locales), de qualité inférieure à investment grade (c.-à-d. BB+ ou moins), tels que notés par une Agence de
notation reconnue. La Turquie, la Russie, l’Afrique du Sud et le Brésil sont des exemples d’émetteurs souverains.
Ces investissements sont basés sur (i) l’« Indice de
référence » (tel que défini ci-dessous) et/ou (ii) l’appréciation professionnelle du Gestionnaire de portefeuille, dont les motifs d’investissement peuvent inclure des perspectives positives/favorables pour
l’émetteur souverain, une possible amélioration de la
notation et des variations attendues de la valeur des
investissements après le changement de notation. Veuillez noter que la notation des émetteurs souverains peut changer de temps à autre et que les émetteurs souverains susmentionnés servent uniquement de référence et peuvent changer selon leur notation.
Le Compartiment pourra investir jusqu’à 20 % de sa Valeur liquidative en titres cotés ou négociés sur des marchés russes.
Le Compartiment peut investir jusqu’à 20 % de sa Valeur liquidative dans des titres de créance en République
populaire de Chine (« RPC ») négociés sur le marché obligataire interbancaire chinois (« CIBM ») via le Bond
Connect (ci-après décrit à l’Annexe VI au Prospectus).

##### Indice de référence
L’indice JP Morgan GBI-EM Global Diversified TR Index (l’« Indice de référence »).
L’Indice de référence est un indice exhaustif des emprunts des marchés émergents qui reflète la performance des obligations en devise locale émises par
les gouvernements des marchés émergents. L’Indice de
référence a été lancé en juin 2005 et est le premier
indice exhaustif mondial regroupant les marchés émergents locaux.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que le Gestionnaire de portefeuille a tout pouvoir pour investir
en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement. Bien que la majorité des participations du Compartiment doivent être des composantes de l’Indice de référence et
avoir des pondérations similaires à celles de ce dernier, la stratégie d’investissement ne restreint pas la mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.

##### Stratégie d’investissement
Le Compartiment est un fonds obligataire activement géré conçu pour maximiser le rendement total d’un portefeuille d’obligations et autres instruments de créance essentiellement émis en devise locale par des
États, agences et entreprises des pays émergents, y compris avec un recours restreint aux IFD.
Le processus d’investissement est largement ascendant et fondamental, mais il est également étayé par la
rigueur des modèles quantitatifs. Le Gestionnaire de portefeuille vise la surpondération des pays connaissant des évolutions profondes et positives et la sous-
pondération, voire l’évitement pur et simple de ceux dont
la devise et/ou les obligations sont surtout soutenues par
des flux de capitaux exceptionnels, susceptibles de connaître un revers rapide à l’avenir. La stratégie d’investissement repose sur l’analyse des fondamentaux de la dette souveraine à moyen terme (à 12 mois) dans le
but de déceler les changements quelques mois avant qu’ils ne soient pris en compte par le marché.
Le Compartiment investira au moins les deux tiers de sa Valeur liquidative dans des titres d’émetteurs locaux de pays émergents du monde entier (et/ou y exerçant la
majeure partie de leur activité économique).

##### Règlement sur la publication d’informations en matière de finance durable
La gestion du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque
en matière de durabilité associé aux investissements sous-jacents, il évalue le risque qu’un événement ou une
condition ESG (« Événement ESG ») ait une incidence négative importante sur la valeur de ces investissements sous-jacents.
Dans le cadre de son processus de recherche de titres ascendant, le Gestionnaire de portefeuille évalue les facteurs environnementaux, sociaux et de gouvernance de chaque investissement du portefeuille afin de déterminer les risques potentiels en matière de
durabilité. Ces facteurs peuvent inclure, sans toutefois s’y limiter, un impact des émetteurs sur l’environnement, y compris les émissions, l’utilisation des sols et les pratiques en matière de déchets, ainsi que les politiques et pratiques sociales d’un émetteur, dont les questions
relatives aux employés, les pratiques de gestion de la chaîne d’approvisionnement et les politiques relatives aux droits de l’homme. La recherche sur le crédit interne du Gestionnaire de portefeuille inclut des ressources telles
que le score ESG établi par le Gestionnaire de portefeuille, et est complétée par des informations en provenance de tiers, notamment les données et notations ESG de MSCI, les données ESG de Bloomberg, le Guide
d’engagement du Sustainability Accounting Standards
Board (SASB), les rapports des agences de notation de
crédit, les études sell-side et les événements relatifs au secteur concerné. Cette étude des risques en matière de durabilité est prise en compte dans le processus de sélection de titres, de même que la recherche
macroéconomique et l’analyse de crédit menées par le
Gestionnaire de portefeuille.
Le Gestionnaire de portefeuille évalue également les
pratiques de gouvernance des émetteurs par le biais d’une recherche fondamentale, complétée par des évaluations et notations de tiers, notamment en ce qui
concerne de saines structures de direction, les relations avec les employés, la rémunération du personnel et la conformité en matière de fiscalité.
Le Gestionnaire de portefeuille contrôle régulièrement les facteurs de durabilité et les expositions au risque en examinant les rapports de notation ESG de tiers et ceux établis en interne par son équipe.
Comme expliqué ci-dessus, la gestion et l’évaluation des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours
possible qu’un Événement ESG ait une incidence négative importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences
négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations
en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins
d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur obligation d’État Contrats à terme standardisés sur devises Contrats à terme standardisés sur le marché monétaire |
| --- | --- |
| Options | Options sur contrats à terme standardisés d’obligation d’État Options sur contrats à terme standardisés de devises Options sur devises (y compris options de change) Options sur obligations |
| Contrats à terme (livra- bles et non livrables) | Contrats de change à terme |
| Swaps | Swaps de défaut de crédit (sur valeur individuelle, indice et panier personnalisé) Swaps de taux d’intérêt Swaps de rendement total (sur valeur individuelle, crédit, indice, secteur et panier personnalisé) |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

##### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de gestion efficace de portefeuille
(GEP). Le Compartiment utilise les indices financiers suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | Markit CDX American Investment Grade High Volatility Index Markit CDX North American Investment Grade Index Markit CDX North American High Yield Index Markit CDX North American High Yield Beta Index Markit CDX Emerging Markets Index Markit CDX Emerging Markets Diversified Index Markit iTraxx Europe Index Markit iTraxx Crossover Index Markit iTraxx Financial Index Markit iTraxx Subordinated Financial Index |

| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de taux d’intérêt utilisés pour offrir une exposition aux marchés de taux d’intérêt et exprimer le point de vue des gestionnaires selon lequel la courbe de rendement évoluera dans une direction particulière, d’une manière plus rentable ou plus efficiente qu’avec l’achat de titres physiques. | EURIBOR LIBOR SOFR SONIA |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Les
indices financiers restants seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages, les coûts associés ou la pondération des actions de
l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.
Exposition globale et effet de levier 
Méthodologie de calcul de l’exposition globale : VaR relative
Limite de VaR relative : Le portefeuille du Compartiment ne dépassera pas le double de la VaR d’un portefeuille de référence représentatif (sur la base d’une période de détention de 20 Jours ouvrables).
Indice de référence de la VaR relative : JP Morgan GBI- EM Global Diversified Index
L’effet de levier brut devrait varier entre : 0 – 300 % de la Valeur liquidative. L’effet de levier brut peut toutefois dépasser ce niveau cible à certains moments.
Pour plus d’informations sur l’approche de la VaR relative et l’Effet de levier brut, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et Effet de levier » dans le Prospectus.

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des OFT, c’est à
dire des accords de prêt de titres et des accords de
mise/prise en pension, comme décrit sous la rubrique
« Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et aux OFT correspondent respectivement à 10 % et 100 %
de sa Valeur liquidative. Il n’est toutefois pas prévu que
ces expositions respectives aux TRS et aux OFT excèdent 10 % et 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet de TRS et OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la
contrepartie sont fournis aux rubriques du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 £, 1 €, 1 CHF ou 100 ¥ selon la devise de la catégorie concernée (majoré, le cas échéant, de la
commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés trimestriellement, les
31 décembre, 31 mars, 30 juin et 30 septembre. Concernant les détenteurs d’Actions de distribution, les
dividendes déclarés leur seront normalement versés au plus tard le 11 février, le 11 mai, le 11 août et le 11
novembre. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Brazil Equity Fund

### SUPPLÉMENT 13, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- La Valeur liquidative du Compartiment peut faire l’objet d’une volatilité élevée en raison de sa politique d’investissement.
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
ARX Investimentos Ltda.

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et au Brésil.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro A | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| USD A | USD | 5 000 | 5 % | 2,00 % | 0 % |
| Sterling A (Cap.) | GBP | 5 000 | 5 % | 2,00 % | 0 % |
| Sterling A (Dist.) | GBP | 5 000 | 5 % | 2,00 % | 0 % |
| DKK A (Cap.) | DKK | 50 000 | 5 % | 2,00 % | 0 % |
| NOK A (Cap.) | NOK | 50 000 | 5 % | 2,00 % | 0 % |
| SEK A (Cap.) | SEK | 50 000 | 5 % | 2,00 % | 0 % |
| Euro H (couverte) | EUR | 5 000 | 5 % | 2,00 % | 0 % |

| Actions « B » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro B | EUR | 10 000 | 5 % | 1,50 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| USD B | USD | 10 000 | 5 % | 1,50 % | 0 % |
| Sterling B (Cap.) | GBP | 10 000 | 5 % | 1,50 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Cap.) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Dist.) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro C | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling C (Cap.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling C (Dist.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |

| Actions « W » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro W | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| USD W | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| DKK W (Cap.) | DKK | 150 000 000 | 5 % | 0,75 % | 0 % |
| NOK W (Cap.) | NOK | 150 000 000 | 5 % | 0,75 % | 0 % |
| SEK W (Cap.) | SEK | 150 000 000 | 5 % | 0,75 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |

| Actions « X » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à réaliser une croissance du capital à long terme en investissant l’essentiel de son actif
(c’est-à-dire au moins les trois quarts du total de ses
actifs) dans un portefeuille d’actions et titres apparentés
de sociétés dont le siège social se trouve au Brésil ou qui
exercent une partie prépondérante de leurs activités au Brésil.

##### Politique d’investissement
Le Compartiment investira au moins trois quarts du total de sa Valeur liquidative dans un portefeuille d’actions et titres apparentés (y compris des actions privilégiées, des
actions privilégiées convertibles et des certificats représentatifs de titres américains [cotés aux États- Unis]) de sociétés implantées ou réalisant la majeure
partie de leur chiffre d’affaires au Brésil.
Le Compartiment peut investir jusqu’à un quart de sa Valeur liquidative dans des actions et titres apparentés de sociétés qui ne sont pas implantées au Brésil et qui
n’y réalisent pas la majeure partie de leur chiffre d’affaires.
Le Compartiment peut également investir jusqu’à un quart de sa Valeur liquidative en obligations convertibles (à taux fixe ou variable, d’entreprise ou non, notées ou non), en obligations d’organisme semi-public et d’entreprise à taux fixe et variable (notés investment grade ou moins), en liquidités, en instruments du marché
monétaire (y compris, de façon non limitative, en billets de trésorerie, obligations d’État et certificats de dépôt) et en organismes de placement collectif (« OPC »).
Le Compartiment peut avoir recours à des IFD, comme
indiqué ci-dessous dans la section intitulée « Utilisation d’IFD ». Le Compartiment peut détenir occasionnellement des bons de souscription ou droits de souscription d’actions si ceux-ci ont été acquis du fait d’une opération sur capital.
La majeure partie des investissements du Compartiment seront cotés ou négociés sur des Marchés éligibles au Brésil et aux États-Unis. Le reste des investissements cotés du Compartiment seront cotés ou négociés sur des Marchés éligibles hors du Brésil et des États-Unis.
En outre, le Compartiment n’investira pas plus de 10 % de sa Valeur liquidative au total dans des OPC.

##### Indice de référence
L’indice MSCI Brazil 10/40 NR Index (l’« Indice de référence »).
L’Indice de référence est conçu pour mesurer la performance des actions de sociétés à grande et moyenne capitalisation du marché brésilien. Les indices
boursiers MSCI 10/40 sont conçus et mis à jour quotidiennement pour tenir compte des limites de concentration de 10 % et 40 % sur les fonds soumis à la
Directive UCITS III. Avec 55 composantes, l’Indice de
référence couvre approximativement 85 % de la
capitalisation boursière ajustée du flottant au Brésil.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour investir en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement.
Cependant, l’Indice de référence couvrant une part importante de l’univers d’investissement, la majorité des
participations du Compartiment seront des composantes de l’Indice de référence. Les pondérations du portefeuille ne seront toutefois pas influencées par celles de l’Indice de référence. La stratégie d’investissement ne restreint pas la mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.

##### Stratégie d’investissement
Le gestionnaire de portefeuille poursuivra une stratégie de valeur reposant sur la combinaison d’une analyse fondamentale et d’une sélection de titres ascendante dans le cadre de la construction du portefeuille, en
cherchant à investir dans des sociétés offrant de forts ratios de rendement de dividende ainsi qu’une capacité à préserver le revenu et le capital.
Les conditions macroéconomiques et du secteur commercial sont par ailleurs évaluées. La poursuite d’une stratégie de valeur/de revenu garantit que seules les
sociétés présentant des fondamentaux commerciaux sains, une valorisation intéressante et un dividende élevé sont incluses dans le portefeuille. Les dividendes
constituent une part importante de la décision d’investissement, au même titre que l’attractivité de la valorisation eu égard aux futures plus-values en capital.
Le processus de constitution du portefeuille repose sur des modèles d’optimisation quantitatifs, des plafonds de liquidité, des limites de diversification en termes de
sociétés et de secteurs et une volonté de minimiser le risque de marché et d’augmenter les rendements ajustés du risque.
Même si les investisseurs peuvent profiter de gains à court terme, le Gestionnaire de portefeuille ne les visera pas particulièrement. Le gestionnaire de portefeuille poursuivra une stratégie de valeur en cherchant à investir dans des sociétés offrant de forts ratios de rendement de
dividende ainsi qu’une capacité à préserver le revenu et
le capital à long terme. Ce Compartiment tablant sur le
long terme, le Gestionnaire de portefeuille achète des actions et titres apparentés en vue d’un horizon de placement de l’ordre de 3 à 5 ans.
La philosophie du Gestionnaire de portefeuille repose sur un processus d’investissement quantitatif non lié à un indice de référence et basé sur la recherche.
La sélection des titres est concentrée sur les sociétés présentant des gains durables (pour la société), un niveau
de dividende élevé (pour l’actionnaire) et des
valorisations attractives.

##### Règlement sur la publication d’informations en matière de finance durable
La gestion du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents, il évalue le risque qu’un événement ou une
condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
À l’aide de processus quantitatifs et qualitatifs, le risque en matière de durabilité est identifié, contrôlé et géré par le Gestionnaire de portefeuille de la manière suivante :
–	Avant d’acquérir des investissements pour le compte du Compartiment, le Gestionnaire de portefeuille prend en compte les facteurs ESG afin d’évaluer l’investissement pertinent par rapport au risque en matière de durabilité et d’identifier sa vulnérabilité à
cet égard. Ce processus comprend l’application d’une politique d’exclusion (selon laquelle les
investissements potentiels peuvent être retirés de l’univers d’investissement sur la base d’un risque en matière de durabilité trop élevé pour le Compartiment) et d’un filtrage positif par lequel les investissements considérés comme présentant un faible risque en matière de durabilité ainsi qu’une bonne performance financière sont inclus dans l’univers d’investissement. Le Gestionnaire de portefeuille effectue également une analyse
fondamentale de chaque investissement potentiel, en utilisant les données ESG publiées par l’émetteur (le cas échéant) ou une recherche exclusive, afin de pouvoir évaluer l’adéquation des pratiques ESG d’un émetteur et gérer ainsi le risque en matière de
durabilité auquel il est confronté. Dans sa décision d’acquérir une participation dans une société émettrice donnée, le Gestionnaire de portefeuille
tiendra compte des informations recueillies à partir de l’analyse fondamentale et pourra en conséquence, dans certaines circonstances, choisir d’investir dans un émetteur qui présente un risque ESG associé plus élevé lorsqu’il estime que le marché a une perception des pratiques en matière ESG de l’émetteur concerné qui ne reflète pas entièrement les changements
positifs en matière de durabilité que ce dernier a récemment mis en œuvre.
–	Pendant la durée de vie de l’investissement, le risque en matière de durabilité est contrôlé en examinant les données ESG publiées par l’émetteur (le cas échéant) ou en effectuant une recherche exclusive
afin de déterminer si le niveau de risque en matière
de durabilité a changé depuis la réalisation de l’évaluation initiale. Si le risque en matière de durabilité associé à un investissement particulier
augmente au-delà de la propension au risque ESG du
Compartiment, le Gestionnaire de portefeuille envisagera de vendre ou de réduire l’exposition du Compartiment à l’investissement concerné, en tenant compte au mieux des intérêts des Actionnaires du
Compartiment.
Comme expliqué ci-dessus, la gestion et l’évaluation des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours
possible qu’un Événement ESG ait une incidence négative importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du régime des principales incidences négatives prévu à
l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire
soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences
négatives des décisions d’investissement sur les facteurs
de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du
régime en matière de reporting. Le Gestionnaire continue d’analyser les données disponibles qui seraient nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins
d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur devises |
| --- | --- |
| Options | Options sur contrats à terme standardisés de devises Options sur devises (y compris options de change) |
| Contrats à terme (livra- bles et non livrables) | Contrats de change à terme |
| Titres avec IFD intégrés/effet de levier | Obligations convertibles Bons de souscription Droits de souscription d’actions |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Enregistrement en Allemagne
Ce Compartiment est enregistré à la vente en Allemagne. Le Compartiment est classé en tant que Fonds
d’investissement aux fins de l’impôt allemand et, à ce
titre, il investira en permanence plus de 50 % de ses actifs en actions au sens de l’Article 2, paragraphe 8 de la Loi allemande sur la fiscalité des investissements.

#### Période de règlement
Les sommes destinées au règlement des opérations pour ce Compartiment devront normalement être versées en
fonds effectivement disponibles, dans la devise de référence de la catégorie d’actions concernée, par transfert télégraphique sur le compte en banque spécifié
par le formulaire de souscription concerné dans un délai
de deux Jours ouvrables suivant immédiatement le Jour d’évaluation considéré (« T+2 »).

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 100 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 GBP, 1 EUR, 10 DKK, 10 NOK ou
10 SEK, selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de souscription applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés le 31 décembre de chaque année.
Concernant les détenteurs d’Actions de distribution, les
dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Long-Term Global Equity Fund

### SUPPLÉMENT 14, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci-après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- La Valeur liquidative du Compartiment peut faire l’objet d’une volatilité élevée en raison de sa politique d’investissement.


#### Gestionnaire de portefeuille
Walter Scott & Partners Limited

#### Devise de référence
Euro

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les
tableaux ci-après et se différencient par leur devise de référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro A | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| USD A | USD | 5 000 | 5 % | 2,00 % | 0 % |
| Sterling A (Dist.) | GBP | 5 000 | 5 % | 2,00 % | 0 % |
| Sterling A (Cap.) | GBP | 5 000 | 5 % | 2,00 % | 0 % |
| USD H (Cap.) (couverte) | USD | 5 000 | 5 % | 2,00 % | 0 % |
| DKK H (Cap.) (couverte) | DKK | 50 000 | 5 % | 2,00 % | 0 % |
| NOK H (Cap.) (couverte) | NOK | 50 000 | 5 % | 2,00 % | 0 % |
| SEK H (Cap.) (couverte) | SEK | 50 000 | 5 % | 2,00 % | 0 % |

| Actions « B » et Actions « J (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro B | EUR | 10 000 | 5 % | 1,50 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Sterling B (Dist.) | GBP | 10 000 | 5 % | 1,50 % | 0 % |
| USD B | USD | 10 000 | 5 % | 1,50 % | 0 % |
| USD B (Dist.) | USD | 10 000 | 5 % | 1,50 % | 0 % |
| CAD B (Cap.) | CAD | 10 000 | 5 % | 1,50 % | 0 % |
| SGD B (Cap.) | SGD | 10 000 | 5 % | 1,50 % | 0 % |
| SGD B (Dist.) | SGD | 10 000 | 5 % | 1,50 % | 0 % |
| CNH B (Cap.) | CNH | 100 000 | 5 % | 1,50 % | 0 % |
| HKD B (Cap.) | HKD | 100 000 | 5 % | 1,50 % | 0 % |
| USD J (Cap.) (couverte) | USD | 10 000 | 5 % | 1,50 % | 0 % |
| CAD J (Cap.) (couverte) | CAD | 10 000 | 5 % | 1,50 % | 0 % |
| SGD J (Cap.) (couverte) | SGD | 10 000 | 5 % | 1,50 % | 0 % |
| CNH J (Cap.) (couverte) | CNH | 100 000 | 5 % | 1,50 % | 0 % |
| HKD J (Cap.) (couverte) | HKD | 100 000 | 5 % | 1,50 % | 0 % |
| JPY J (Cap.) (couverte) | JPY | 1 000 000 | 5 % | 1,50 % | 0 % |
| JPY J (Dist.) (couverte) | JPY | 1 000 000 | 5 % | 1,50 % | 0 % |

| Actions « G » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Cap.) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Dist.) | GBP | 5 000 | 5 % | 1,00 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro C | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling C (Cap.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD I (Dist.) (couverte) | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD I (Cap.) (couverte) | USD | 5 000 000 | 5 % | 1,00 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro W | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (couverte) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| USD W | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| USD W (couverte) | USD | 15 000 000 | 5 % | 0,75 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| AUD W (Cap.) (couverte) | AUD | 15 000 000 | 5 % | 0,75 % | 0 % |
| CAD W (Cap.) (couverte) | CAD | 15 000 000 | 5 % | 0,75 % | 0 % |
| HKD W (Cap.) (couverte) | HKD | 150 000 000 | 5 % | 0,75 % | 0 % |
| CNH W (Cap.) (couverte) | CNH | 150 000 000 | 5 % | 0,75 % | 0 % |
| SGD W (Cap.) (couverte) | SGD | 15 000 000 | 5 % | 0,75 % | 0 % |
| DKK W (Cap.) (couverte) | DKK | 150 000 000 | 5 % | 0,75 % | 0 % |
| NOK W (Cap.) (couverte) | NOK | 150 000 000 | 5 % | 0,75 % | 0 % |
| SEK W (Cap.) (couverte) | SEK | 150 000 000 | 5 % | 0,75 % | 0 % |

| Actions « S » et Actions « T (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Commission de per- formance | Taux de rendement minimal |
| Euro S | EUR | 5 000 000 | 5 % | 0,50 % | 0 % | 15 % | MSCI World Index (avec dividendes nets réinvestis) exprimé en euros |
| USD S (Cap.) 1 | USD | 5 000 000 | 5 % | 0,50 % | 0 % | 15 % | MSCI World Index (avec dividendes nets réinvestis) exprimé en USD |

| Actions « X » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X | GBP | Aucun(e) | 0 % | 0 % | 0 % |


#### Commission de performance
Outre la commission annuelle de gestion, le Gestionnaire sera en droit de percevoir une commission de performance annuelle (la « Commission de
performance ») sous réserve des conditions énoncées ci- dessous. Le taux auquel la Commission de performance sera appliquée est indiqué dans le tableau ci-dessus. La Commission de performance réduit la valeur de votre investissement et le revenu que vous percevez à ce titre.
La Commission de performance relative à chaque catégorie d’actions sera égale à un pourcentage (comme indiqué dans le tableau ci-dessus) du Rendement de la catégorie d’actions (comme défini ci-dessous) dépassant le Taux de rendement minimal (comme défini ci-dessous).
La Commission de performance sera calculée sur une période de douze mois clôturée le 31 décembre (la
« Période de calcul »). La première Période de calcul s’entend de la période débutant le Jour ouvrable qui suit immédiatement la fin de la Période d’offre initiale et se terminant au 31 décembre de la même année.
Le « Rendement de la catégorie d’actions » est calculé chaque Jour d’évaluation et correspond à la différence exprimée en pourcentage entre la Valeur liquidative ajustée ce Jour d’évaluation et la Valeur liquidative ajustée le Jour d’évaluation précédent.
La « Valeur liquidative ajustée » est la Valeur liquidative de la catégorie d’actions concernée (qui comprend un cumul pour l’ensemble des commissions et frais, y compris la commission annuelle de gestion et les frais d’exploitation et administratifs à la charge de la catégorie d’actions concernée, après ajustement selon les éventuelles distributions de dividendes), mais sans
déduction pour toute Commission de performance courue depuis le début de la Période de calcul.
Le « Taux de rendement minimal » est indiqué dans le tableau ci-dessus et est cohérent avec la politique
d’investissement du Compartiment. Un taux de
rendement minimal désigne donc le taux de rendement minimal qu’un fonds doit dépasser pour percevoir une commission de performance. Les performances passées du Compartiment par rapport à l’indice MSCI World NR Index sont indiquées dans le DICI de la catégorie d’actions concernée.
Le « Taux de rendement minimal » est calculé chaque Jour d’évaluation en prenant la différence, en pourcentage, entre le Taux de rendement minimal du Jour d’évaluation et celui du Jour d’évaluation précédent.
Chaque Jour d’évaluation, une Valeur liquidative ajustée est calculée pour chaque catégorie d’actions à laquelle s’applique la Commission de performance. Si le Rendement de la catégorie d’actions dépasse le Taux de
rendement minimal, une Commission de performance est
due.
Si le Rendement de la catégorie d’actions n’excède pas le Taux de rendement minimal, la Commission de performance courue est réduite (mais ne peut pas être
inférieure à zéro). La Commission de performance est réduite d’un montant égal au pourcentage de la commission de performance (comme défini dans le
tableau ci-dessus) de la sous-performance du Rendement de la catégorie d’actions par rapport au Taux de rendement minimal (le rendement négatif) multiplié
par les Actions émises. Si la Commission de performance courue est réduite à zéro, aucune nouvelle Commission de performance ne sera due tant que (i) le Rendement de
la catégorie d’actions cumulé n’excèdera pas le Taux de
rendement minimal cumulé depuis le début de la Période
de calcul.
Clause de récupération (clawback) : après une Période de
calcul au cours de laquelle aucune Commission de performance n’a été comptabilisée, aucune Commission de performance ne sera due jusqu’à ce que le Rendement de la catégorie d’actions cumulé (depuis le dernier Jour d’évaluation du dernier exercice comptable au cours
duquel une Commission de performance aura été
comptabilisée) dépasse le Taux de rendement minimal cumulé (depuis le dernier Jour d’évaluation du dernier exercice comptable au cours duquel une Commission de
performance aura été comptabilisée).
Si aucune Commission de performance n’a été comptabilisée depuis le lancement d’une catégorie d’actions, aucune Commission de performance ne sera due jusqu’à ce que le Rendement de la catégorie d’actions cumulé (depuis le lancement de cette catégorie d’actions) dépasse le Taux de rendement minimal cumulé depuis le lancement de cette catégorie d’actions.
L’intégration de la Commission de performance dans la Valeur liquidative par Action chaque Jour d’évaluation dépend de l’acceptabilité des souscriptions, rachats,
échanges ou transferts.
Sont incluses dans le calcul de la Commission de performance les plus et moins-values réalisées et latentes à la fin de la période concernée. Ainsi les Commissions de performance peuvent être payées sur des plus-values latentes qui peuvent ne jamais être réalisées.
Une performance positive peut être générée par des mouvements de marché ainsi qu’une gestion active de portefeuille ; ceci peut mener à des situations où une
partie de la Commission de performance est payée sur la base des variations de marché.
Le calcul de la Commission de performance ne peut aucunement être manipulé et doit être vérifié par le Dépositaire.
La Commission de performance est calculée et cumulée chaque Jour d’évaluation et entièrement versée à terme échu, eu égard à chaque Période de calcul. Toute
Commission de performance due sera généralement payée dans les 30 Jours ouvrables suivant la fin de chaque Période de calcul, la date de rachat, la date de
fusion (sous réserve des exigences de la Banque centrale), la date d’expiration de la Convention de gestion de portefeuille ou toute autre date de liquidation ou de cessation d’activité éventuelle de la Société ou du Compartiment.

##### Exemples pour comprendre le calcul de la commission de performance
Veuillez noter que le système de commission de performance permet de prélever une commission de performance dès lors que le Compartiment génère un rendement supérieur à celui du Taux de référence minimal, même si sa performance est globalement négative.
| Jour d’évalua- tion | Valeur liquida- tive ajustée à la fin de la Période de calcul | Taux de rendement mi- nimal exprimé en pence | Rendement ex- cédentaire ex- primé en pence* | Commission de performance** | Valeur liquida- tive à la fin de la Période de calcul | Exemple |
| --- | --- | --- | --- | --- | --- | --- |
| 31 décembre (premier exer- cice) | 105 p | 102 p | 3 p | 0,45 p | 104,55 p | La performance sur la Période de calcul a donné lieu à une Valeur liquidative ajustée de 105 pence à la fin du premier exercice, dépassant ainsi le Taux de rendement minimal établi à 102 pence et impliquant un Rendement excédentaire positif de 3 pence. Par conséquent, une commission de performance de 0,45 p a été payée. |

| Jour d’évalua- tion | Valeur liquida- tive ajustée à la fin de la Période de calcul | Taux de rendement mi- nimal exprimé en pence | Rendement ex- cédentaire ex- primé en pence* | Commission de performance** | Valeur liquida- tive à la fin de la Période de calcul | Exemple |
| --- | --- | --- | --- | --- | --- | --- |
| 31 décembre (deuxième exer- cice) | 95 p | 106 p | 0 p | 0 p | 95 p | La performance sur la Période de calcul a donné lieu à une Valeur liquidative ajustée de 95 p à la fin du deuxième exercice, soit un niveau inférieur au Taux de rendement minimal établi à 106 p. Par conséquent, aucune commission de performance n’a été payée. |
| 31 décembre (troisième exer- cice) | 104 p | 105 p | 0 p | 0 p | 104 p | La performance sur la Période de calcul a donné lieu à une Valeur liquidative ajustée de 104 p à la fin du troisième exercice, soit un niveau inférieur au Taux de rendement minimal établi à 105 p. Par conséquent, aucune commission de performance n’a été payée. |
| 31 décembre (quatrième exer- cice) | 110 p | 108 p | 2 p | 0,30 p | 109,70 p | La performance sur la Période de calcul a donné lieu à une Valeur liquidative ajustée de 110 p à la fin du quatrième exercice, dépassant ainsi le Taux de rendement minimal établi à 108 p et impliquant un Rendement excédentaire positif de 2 p. Par conséquent, une commission de performance de 0,30 p a été payée. |

*Le Rendement excédentaire correspond à la surperformance du Rendement de la catégorie d’actions par rapport au Taux de rendement minimal
** 15 % de Rendement excédentaire

#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
L’objectif du Compartiment est d’obtenir une appréciation du capital à long terme en investissant principalement (c’est-à-dire au moins les trois quarts de son actif total) dans un portefeuille d’actions et de titres apparentés de
sociétés du monde entier.

##### Politique d’investissement
Le Compartiment investira principalement (c’est-à-dire au moins les trois quarts de sa Valeur liquidative) dans un portefeuille d’actions et titres apparentés de sociétés du monde entier dont la majorité sera cotée ou négociée sur
des Marchés éligibles. Les titres apparentés à des actions comprendront des actions ordinaires et privilégiées, des actions privilégiées convertibles et des bons de souscription. Les investissements dans les bons de souscription sont soumis à une limite de 10 % de la Valeur liquidative du Compartiment.
Le Compartiment peut également investir indirectement dans des titres liés à des actions mondiales via des instruments tels que des certificats représentatifs de titres américains et mondiaux (collectivement désignés
« certificats représentatifs de titres »).
Bien que le Gestionnaire de portefeuille puisse affecter les actifs du Compartiment sans restriction entre zones géographiques et pays individuels sur la base de son analyse des conditions économiques, politiques et financières mondiales, le Compartiment peut avoir une exposition significative à certains marchés, dont les États-Unis, et peut investir à hauteur de 20 % de sa Valeur liquidative dans des actions ou titres apparentés
de sociétés situées dans des pays émergents. À cette fin,
le terme « pays émergents » comprend les pays listés dans l’indice Morgan Stanley Capital International Emerging Markets Index (un indice créé pour mesurer la performance de marché d’actions sur les marchés émergents mondiaux), y compris dans toute version
ultérieurement modifiée ou le remplaçant susceptible d’être construite par le fournisseur d’indices. Pour déterminer le pays de l’émetteur d’un titre, le Gestionnaire de portefeuille prend plusieurs éléments en
compte : pays d’organisation, marché de négociation principal des titres, localisation des actifs, du personnel,
des ventes et des revenus.
La capitalisation boursière des actions et titres apparentés dans lesquels le Compartiment peut investir
ne fait l’objet d’aucune restriction.
Le Compartiment peut également investir jusqu’à un quart de sa Valeur liquidative en obligations, qui peuvent être à taux fixe ou variable, des titres de créance d’État ou d’entreprise convertibles et des instruments du marché monétaire (y compris, sans toutefois s’y limiter,
les billets de trésorerie, obligations d’État et certificats de dépôt), ou en liquidités. Les titres de créance dans lesquels le Compartiment peut investir seront notés
investment grade (c.-à-d. notés BBB-/Baa3) ou plus, d’après une Agence de notation reconnue.
Le Compartiment ne peut pas investir plus de 10 % de sa Valeur liquidative dans des organismes de placement collectif.
Le Compartiment peut investir dans des IFD à des fins de couverture et de gestion efficace de portefeuille.
En règle générale, le Compartiment sera exposé aux fluctuations de cours des devises qui découlent de ses investissements dans des actions et titres apparentés.
Étant donné qu’il ne cherche pas à augmenter la valeur
des actifs en spéculant sur les devises, le Gestionnaire
de portefeuille ne couvrira généralement pas le Compartiment contre l’exposition de change. Néanmoins, il contrôlera et révisera l’exposition aux devises
régulièrement et se couvrira contre le risque de change quand il percevra que l’exposition de change présente un risque important. Toutes les couvertures de change
seront généralement conduites par le biais de contrats d’options dîtes « de type américain » sur devises négociés de gré à gré avec des banques et courtiers-
contrepartistes importants. Les options de type américain négociées de gré à gré peuvent être exercées
pendant les jours ouvrables jusqu’à la date d’expiration
incluse, contrairement aux options de type européen
négociées de gré à gré qui peuvent uniquement être exercées à l’expiration. Ces options seront destinées à permettre au Compartiment de convertir la valeur des
actions et titres apparentés en EUR à un taux convenu le jour de la souscription du contrat d’option.

##### Indice de référence
L’indice MSCI World NR Index (l’« Indice de référence »). L’Indice de référence est un indice boursier mondial important conçu pour représenter la performance des
titres à grande ou moyenne capitalisation dans 23 pays développés, incluant les suivants : Allemagne, Australie,
Autriche, Belgique, Canada, Danemark, Espagne, États- Unis d’Amérique, Finlande, France, Hong Kong, Irlande, Israël, Italie, Japon, Nouvelle-Zélande, Norvège, Pays-
Bas, Portugal, Royaume-Uni, Singapour, Suède et Suisse. L’Indice de référence couvre approximativement 85 % de la capitalisation boursière ajustée du flottant dans
chaque pays.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que le Gestionnaire de portefeuille a tout pouvoir pour investir
en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement. Bien que les avoirs du Compartiment puissent inclure des composantes de l’Indice de référence, la sélection des
placements et leurs pondérations dans le portefeuille ne sont pas influencées par celles de l’Indice de référence. La stratégie d’investissement ne restreint pas la mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.

##### Stratégie d’investissement
La stratégie d’investissement du Compartiment consiste à générer une croissance du capital à long terme en
investissant principalement dans un portefeuille d’actions
et de titres apparentés situés dans le monde entier (pour
plus de détails, voir la rubrique « Politique d’investissement »).
La philosophie et le processus d’investissement sont conformes aux principes du Gestionnaire de portefeuille : une approche d’investissement à long terme basée sur l’analyse ascendante et rigoureuse des sociétés dans le
but de détecter celles qui bénéficient des perspectives
de création de richesses les plus élevées. Cette démarche reflète une conviction fondamentale selon
laquelle, avec le temps, le retour sur investissement d’un portefeuille n’excède jamais la plus-value créée par les sociétés sous-jacentes. En conséquence, l’équipe de
recherche du Gestionnaire de portefeuille doit se
concentrer sur la détection des sociétés capables de créer des richesses conformément à l’objectif d’investissement du portefeuille.
La philosophie du Gestionnaire de portefeuille est basée sur une recherche fondamentale détaillée permettant
d’identifier le potentiel de croissance de certains titres sur une période donnée. Compte tenu de l’optique long terme de ce Compartiment, les actions et titres
apparentés du portefeuille devraient être achetés pour être conservés au moins 3 à 5 ans. Le taux de rotation
des titres du portefeuille restera faible tout au long de la vie du Compartiment, étant donné qu’il fait partie intégrante de la procédure du Gestionnaire de
portefeuille, comme décrit ci-dessus. À ce titre et bien qu’il pourrait en faire bénéficier les investisseurs, le Gestionnaire de portefeuille ne cherchera pas
particulièrement à générer de plus-values à court terme.

##### Règlement sur la publication d’informations en matière de finance durable
La gestion du risque en matière de durabilité fait entièrement partie du processus mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents, il évalue le risque qu’un événement ou une
condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Lorsque le Gestionnaire de portefeuille effectue des recherches sur une entreprise, quels que soient son emplacement géographique et son secteur, il applique le
même cadre analytique. Ce cadre est à la fois quantitatif et qualitatif et implique l’analyse des données financières historiques ainsi que la considération de sept axes de
recherche clés :
- activités commerciales et présence physique
- intégrité, durabilité et gouvernance
- caractéristiques du marché
- prise en main de l’avenir
- profil financier
- direction et conseil d’administration
- valorisation et négociationL’analyse des pratiques en matière d’intégrité, de durabilité et de gouvernance effectuée par le Gestionnaire de portefeuille comprend l’évaluation et le suivi des entreprises à l’égard de facteurs pertinents etimportants dans quatre domaines clés :
- considérations environnementales
- risque et changement climatiques
- capital humain et social
- gouvernanceCe processus permet au Gestionnaire de portefeuille d’examiner tous les facteurs susceptibles d’affecter la réussite à long terme d’une entreprise avant d’investir. S’inscrivant dans le cadre de l’évaluation continue que le Gestionnaire de portefeuille mène auprès desentreprises, ce processus est mis à jour, révisé et discuté chaque année, et fait ainsi l’objet d’une surveillance au fil du temps.

Bien que toutes les études de recherche appartiennent au Gestionnaire de portefeuille, elles sont complétées par des informations et des analyses provenant de sources externes, y compris des prestataires de recherche tiers, des universitaires et des spécialistes. Le dialogue régulier que le Gestionnaire de portefeuille entretient avec la
direction contribue également à l’évaluation globale de l’entreprise.
Comme expliqué ci-dessus, la gestion et l’évaluation des risques en matière de durabilité font entièrement partie du processus d’investissement du Gestionnaire de portefeuille. Toutefois, il est toujours possible qu’un
Événement ESG ait une incidence négative importante
sur la valeur du Compartiment.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences
négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Enregistrement en Allemagne
Ce Compartiment est enregistré à la vente en Allemagne.
Le Compartiment est classé en tant que Fonds d’investissement aux fins de l’impôt allemand et, à ce
titre, il investira en permanence plus de 50 % de ses actifs en actions au sens de l’Article 2, paragraphe 8 de la Loi allemande sur la fiscalité des investissements.

#### Enregistrement à Hong Kong
Ce Compartiment est enregistré à la vente à Hong Kong.

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 50 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés,
options, swaps, contrats sur différence, titres avec IFD intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale.
En utilisant des IFD à des fins de GEP, le Compartiment peut obtenir une exposition indirecte aux indices financiers.
Veuillez consulter la section du Prospectus intitulée « La Société – Gestion efficace de portefeuille » pour de plus amples informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la
contrepartie sont fournis aux rubriques du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra
automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 £, 1 €, 1 CAD, 1 AUD, 1 CHF, 1 SGD,
10 HKD, 10 CNH, 10 DKK, 10 NOK, 10 SEK ou 100 ¥, selon
la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront
normalement déclarés le 31 décembre de chaque année. Concernant les détenteurs d’Actions de distribution, les dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Global Real Return Fund (USD)

### SUPPLÉMENT 15, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.
- Le Compartiment peut substantiellement investir dans des dépôts auprès d’établissements de crédit. Même si le Compartiment peut investir dans des instruments du marché monétaire et des dépôts en numéraire, les Actions dans le Compartiment ne sauraient constituer des dépôts et diffèrent des dépôts par nature en ceci que l’investissement n’est pas garanti et que sa valeur est susceptible de fluctuer. Les investissements dans le Compartiment impliquent certains risques d’investissement, dont la perte éventuelle du capital.


#### Gestionnaire de portefeuille
Newton Investment Management Limited

#### Gestionnaire de portefeuille délégué
Le Gestionnaire de portefeuille peut déléguer certaines ou la totalité de ses fonctions de gestion
d’investissement eu égard au présent Compartiment à
Newton Investment Management North America LLC (le
« Gestionnaire de portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique « Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée occasionnellement par les Administrateurs, à condition
que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| USD A | USD | 5 000 | 5 % | 1,50 % | 0 % | SOFR (composé à 30 jours) + +4 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 1,50 % | 0 % | SOFR (composé à 30 jours) + +4 % |
| AUD H (Cap.) (couverte) | AUD | 5 000 | 5 % | 1,50 % | 0 % | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 4 % |

| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| --- | --- | --- | --- | --- | --- | --- |
| CAD H (Cap.) (couverte) | CAD | 5 000 | 5 % | 1,50 % | 0 % | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 4 % |
| CNH H (Cap.) (couverte) | CNH | 50 000 | 5 % | 1,50 % | 0 % | HIBOR CNH à 1 mois + 4 % |
| SGD H (Cap.) (couverte) | SGD | 5 000 | 5 % | 1,50 % | 0 % | SIBOR SGD à 1 mois + 4 % |

| Actions « G » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| USD G (Cap.) | USD | 5 000 | 5 % | 1,00 % | 0 % | SOFR (composé à 30 jours) + +4 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 1,00 % | 0 % | SOFR (composé à 30 jours) + +4 % |

| Actions « C » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| USD C | USD | 5 000 000 | 5 % | 1,00 % | 0 % | SOFR (composé à 30 jours) + +4 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 1,00 % | 0 % | SOFR (composé à 30 jours) + +4 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| USD W | USD | 15 000 000 | 5 % | 0,75 % | 0 % | SOFR (composé à 30 jours) + +4 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,75 % | 0 % | SOFR (composé à 30 jours) + +4 % |
| AUD W (Cap.) (couverte) | AUD | 15 000 000 | 5 % | 0,75 % | 0 % | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 4 % |
| CAD W (Dist.) (couverte) | CAD | 15 000 000 | 5 % | 0,75 % | 0 % | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 4 % |
| CAD W (Cap.) (couverte) | CAD | 15 000 000 | 5 % | 0,75 % | 0 % | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 4 % |
| CNH W (Cap.) (couverte) | CNH | 150 000 000 | 5 % | 0,75 % | 0 % | HIBOR CNH à 1 mois + 4 % |
| SGD W (Cap.) (couverte) | SGD | 15 000 000 | 5 % | 0,75 % | 0 % | SIBOR SGD à 1 mois + 4 % |

| Actions « Z (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| CAD Z (Cap.) (couverte) | CAD | 200 000 000 | 5 % | 0,65 % | 0 % | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 4 % |
| CAD Z (Dist.) (couverte) | CAD | 200 000 000 | 5 % | 0,65 % | 0 % | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 4 % |

| Actions « X » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| USD X | USD | Aucun(e) | 0 % | 0 % | 0 % | SOFR (composé à 30 jours) + +4 % |
| CAD X (Cap.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 4 % |
| CAD X (Dist.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 4 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment a pour objectif de réaliser un rendement total supérieur à l’indice de référence monétaire (tel que décrit ci-dessous) sur un horizon de
placement de 3 à 5 ans.

##### Politique d’investissement
Le Compartiment aura la possibilité d’investir librement dans une gamme étendue de classes d’actifs, avec l’objectif de maintenir une exposition au risque modérée à tout moment. Le Compartiment est constitué d’un
portefeuille mondial composé de divers actifs. Le
Gestionnaire de portefeuille aura toute discrétion pour allouer ses investissements. Il se basera, pour ce faire,
sur son approche d’investissement mondial exclusive qu’il appliquera au sein de chaque classe d’actifs. Le Compartiment ne sera pas nécessairement investi simultanément dans chacune des classes d’actifs.
En règle générale, le Compartiment peut investir dans des actions et titres apparentés, des titres de créance et apparentés, des IFD (y compris les IFD sur devises), des organismes de placement collectif (« OPC »), des dépôts, des liquidités et équivalents et des instruments du marché monétaire. Chacun de ces titres est présenté ci- dessous de façon plus détaillée.
Les actions et titres apparentés dans lesquels le Compartiment peut investir sont principalement, mais de façon non limitative, des actions ordinaires, des actions privilégiées, des titres convertibles ou échangeables en actions ainsi que des certificats représentatifs de titres américains et internationaux cotés ou négociés sur des Marchés éligibles du monde entier.
Les titres de créance et apparentés dans lesquels le Compartiment peut investir seront principalement, mais
sans s’y limiter, des obligations à taux fixe ou variable
d’émetteurs internationaux, souverains, d’États, d’agences supranationales, de sociétés, de banques et d’obligations autres, et d’autres titres de créance et apparentés tels que des débentures, des billets (y
compris des billets émis par des sociétés ou des entités souveraines, à taux variable ou fixe, et à échéance d’un an minimum) ainsi que des titres adossés à des actifs ou
à des créances hypothécaires.
Le Compartiment peut investir dans des titres de qualité investment grade ou de qualité inférieure à investment grade, telle que déterminée par une Agence de notation reconnue. Les investissements dans des titres à revenu fixe de qualité inférieure à investment grade ne devraient pas dépasser 30 % de la Valeur liquidative du Compartiment et seront généralement nettement inférieurs à 30 %.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des CoCo. Veuillez consulter la section
du Prospectus intitulée « Risque lié aux titres convertibles conditionnels (« CoCo ») pour plus de détails sur les risques associés aux CoCo.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des Obligations structurées.
Le Compartiment peut investir plus de 10 % et jusqu’à 35 % de sa Valeur liquidative dans des titres de créance émis et/ou garantis par un même émetteur souverain (y
compris son gouvernement et les autorités publiques ou locales), de qualité inférieure à investment grade (c.-à-d. BB+ ou moins), tel que déterminé par une Agence de
notation reconnue. Le Brésil, l’Indonésie et la Hongrie sont des exemples d’émetteurs souverains. Ces investissements sont basés sur l’appréciation
professionnelle du Gestionnaire de portefeuille, dont les motifs d’investissement peuvent inclure des perspectives positives/favorables pour l’émetteur souverain, une possible amélioration de la notation et des variations
attendues de la valeur de ces investissements en raison des changements de notations. Veuillez noter que la
notation des émetteurs souverains peut changer de temps à autre et que les émetteurs souverains susmentionnés servent uniquement de référence et peuvent changer en même temps que leur notation.
En outre, le Compartiment n’investira pas plus de 10 % de sa Valeur liquidative au total dans des OPC.
Afin de fournir liquidité et couverture aux expositions générées par l’utilisation d’IFD, la majorité des actifs du Compartiment peuvent à tout moment être investis dans
des liquidités, des instruments du marché monétaire, y compris, mais sans s’y limiter, des billets de trésorerie, des obligations d’État à taux fixe ou variable et de qualité investment grade ou inférieure (tel que déterminé par une
Agence de notation reconnue), des certificats de dépôt et des OPC.
Le Compartiment peut investir dans des matières premières et dans les secteurs de l’immobilier, des énergies renouvelables et des infrastructures par le biais d’une combinaison d’OPC (y compris des fonds négociés en Bourse à capital variable), d’actions et titres apparentés (comme les sociétés d’investissement immobilier cotés ou « REIT » et d’autres fonds cotés à capital fixe) et des instruments financiers à revenu fixe
(comme les obligations négociées en Bourse, [dont les matières premières et les certificats négociés en Bourse]). Tout investissement dans des fonds cotés à capital fixe constituera un investissement dans un titre négociable conformément aux exigences de la Banque centrale.
Le Compartiment n’est pas soumis à un secteur géographique ni à un secteur d’activités particulier.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des titres de créance et apparentés en
République populaire de Chine (« RPC ») négociés sur le marché obligataire interbancaire chinois (« CIBM ») via le programme Bond Connect (décrit plus en détail à
l’Annexe VI du Prospectus).
L’achat d’actions A chinoises via le Stock Connect est l’une des méthodes utilisées par le Compartiment pour acquérir une exposition aux titres chinois. Le Compartiment peut investir jusqu’à 10 % de sa Valeur
liquidative dans des actions chinoises de classe A par le
biais du Stock Connect. Le programme Stock Connect est présenté plus en détail dans l’Annexe V du Prospectus.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des valeurs mobilières qui ne sont pas cotées ou négociées sur des Marchés éligibles.

##### Indice de référence
SOFR (composé à 30 jours) + 4 % par an (l’« Indice de référence monétaire »).
Le Compartiment utilise l’Indice de référence monétaire comme objectif de performance à atteindre ou dépasser sur une période de 5 ans, avant déduction des frais.
Le SOFR (Secured Overnight Financing Rate) est une mesure générale du coût d’emprunt de liquidités à un jour garanties par des bons du Trésor américain et est
administré par la Réserve fédérale de New York.
Le Compartiment est géré activement, ce qui signifie que le Gestionnaire de portefeuille a tout pouvoir pour
sélectionner les investissements sur la base de l’objectif et de la politique d’investissement.

##### Stratégie d’investissement
La philosophie d’investissement est basée sur la conviction du Gestionnaire de portefeuille qu’aucune société, aucun marché ni aucune économie ne peuvent
être considérés isolément, chacun de ces éléments devant être examiné dans un contexte global. Le Gestionnaire de portefeuille estime que les événements qui surviennent dans le monde influent sur tous les marchés financiers et que, par conséquent, un investissement réussi dans des titres à la diversification internationale implique de bien comprendre le monde dans son ensemble.
Le Gestionnaire de portefeuille identifie les thèmes qui touchent à des changements majeurs au niveau
international et les utilise pour étayer ses idées d’investissement. Cette approche thématique mondiale permet au Gestionnaire de portefeuille d’acquérir une perspective à long terme sur les marchés financiers et
les économies du monde entier, en gardant toujours une vision d’ensemble. La perspective est une caractéristique essentielle du processus d’investissement, car elle permet d’anticiper les évolutions à l’échelle mondiale et oriente les analystes et gestionnaires de portefeuille vers
les opportunités rentables.
L’approche de rendement réel mondial est une stratégie multi-actifs à gestion active et principalement basée sur des actifs « conventionnels » et le recours aux IFD pour
protéger le capital ou générer des revenus. Les portefeuilles de rendement ciblé multi-actifs sont
construits d’après cette vision globale et suivent une approche d’investissement sans contrainte régionale, sectorielle ni indicielle. Le Gestionnaire de portefeuille adapte les caractéristiques d’investissement visées aux évolutions de l’environnement de marché. L’allocation d’actifs du Compartiment peut varier en fonction du point de vue du Gestionnaire de portefeuille sur les conditions fondamentales de l’économie et du marché ainsi que sur les tendances en matière d’investissement dans le monde, tout en prenant en considération des facteurs comme la liquidité, les coûts, la durée d’exécution, le caractère intéressant relatif des titres individuels et des
émetteurs disponibles sur le marché.

##### Règlement sur la publication d’informations en matière de finance durable
La prise en compte du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents, il évalue le risque qu’un événement ou une
condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Le Gestionnaire de portefeuille a accès à diverses catégories de données ESG fournies par des tiers, qui
permettent d’identifier les problèmes ESG potentiels
auxquels un émetteur peut être confronté. Cela inclut, entre autres, l’exposition à des activités pouvant être considérées comme nocives pour l’environnement ou la société. Ces données, ainsi que celles obtenues par le
Gestionnaire de portefeuille dans le cadre de sa propre recherche sur l’investissement responsable, constituent
une part importante de la prise en compte et de l’évaluation du niveau de risque en matière de durabilité auquel un investissement peut être soumis.
Cette évaluation est intégrée au processus de recherche au niveau des titres, qui repose sur l’analyse fondamentale des opportunités d’investissement individuelles à travers un certain nombre de facteurs
différents, notamment :
- les caractéristiques financières ou économiques fondamentales ;
- l’évaluation ;
- le profil risque/rendement ; et
- les caractéristiques ESG de l’émetteur, y compris la compréhension de la manière dont cesconsidérations peuvent avoir un impact sur les rendements économiques.

Le Gestionnaire de portefeuille tiendra compte des informations recueillies à partir de l’analyse fondamentale dans sa décision d’acquérir une participation dans une société émettrice ou de conserver
une position donnée.
Comme expliqué ci-dessus, l’évaluation et la gestion des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours possible qu’un Événement ESG ait une incidence négative
importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du régime des principales incidences négatives prévu à
l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire
soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs
de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins
d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur devises Contrats à terme standardisés sur obligations d’État Contrats à terme standardisés sur indices boursiers Contrats à terme standardisés sur indices de volatilité Contrats à terme standardisés sur actions |
| --- | --- |
| Options | Options sur actions (titre individuel, indice, secteur, panier personnalisé) Options à faible prix d’exercice (LEPO) et Bons de souscription à faible prix d’exercice (LEPW) Options sur indices Options sur obligations Options sur contrats à terme standardisés sur devises Options sur swaps Options sur indices de volatilité Options sur devises (incluant les Options de change) Options sur contrats à terme standardisés |
| Swaps | Swaps de défaut de crédit (titre individuel, indice et panier personnalisé) Swaps de taux d’intérêt Swaps d’actions (titre individuel, indice, secteur et panier personnalisé) Swaps de variance Swaps de rendement total (titre individuel, crédit, indice et panier personnalisé) Contrats sur différence |
| Contrats à terme | Contrats de change à terme |
| Titres avec IFD intégrés/effet de levier | Obligations convertibles Titres convertibles conditionnels (CoCo) Titres adossés à des actifs (ABS) Titres adossés à des créances hypothécaires (MBS) Bons de souscription Billets structurés |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices financiers suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | Indice Markit iTraxx CDS Index |

peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices d’actions utilisés pour offrir une exposition aux marchés de titres régionaux et mondiaux de manière plus rentable ou plus efficace que par l’achat de titres physiques. | Borsa Istanbul 30 Dax 30 Index Euro Stoxx 50 Index FTSE 100 Index FTSE All Share Index FTSE World Index Hang Seng Index KOSPI Index MDAX Index MSCI All Countries World Index MSCI Emerging Markets Index Nasdaq Composite Index Nikkei 225 Index Russell 2000 Index S&P/ASX 200 Index S&P/TSX Composite Index S&P 500 Index Stoxx Europe 600 Index Stoxx Europe Small 200 |
| Indices de volatilité permettant de fournir une exposition à, ou exprimer le point de vue du Gestionnaire de portefeuille sur, la volatilité d’un marché ou d’une devise spécifique de manière plus rentable ou plus efficace que par l’achat de titres physiques. | Chicago Board Options Exchange SPX Volatility Index |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Les
indices financiers restants seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages,
les coûts associés ou la pondération des actions de l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

##### Positions longues et courtes
Le Compartiment peut construire des expositions synthétiques longues et synthétiques courtes dans
chacune des classes d’actifs référencées dans la Politique d’investissement pour atteindre son objectif d’investissement. L’exposition longue nette totale (après prise en compte de la couverture) par le biais d’IFD ne
devrait pas dépasser 100 % de la Valeur liquidative du Compartiment et l’exposition nette courte totale ne devrait pas dépasser non plus 100 % de la Valeur liquidative du Compartiment (en utilisant l’approche par les engagements).
Exposition globale et effet de levier 
Méthodologie de calcul de l’exposition globale : VaR absolue
Limite de VaR absolue : le portefeuille du Compartiment
ne dépassera pas 20 % de la Valeur liquidative (sur la base d’une période de détention de 20 Jours ouvrables).
L’effet de levier brut devrait varier entre : 0 % et 1 000 % de la Valeur liquidative du Compartiment. L’effet de levier brut peut toutefois dépasser ce niveau cible à certains
moments.
Pour plus d’informations sur l’approche de la VaR absolue et l’Effet de levier brut, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et
effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des OFT, c’est à
dire des accords de prêt de titres et des accords de
mise/prise en pension, comme décrit sous la rubrique
« Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et
aux OFT correspondent respectivement à 100 % et 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que ces expositions respectives aux TRS et aux OFT excèdent
30 % et 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet de TRS et OFT seront les titres dont la nature est conforme à la politique d’investissement du
Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif,
à savoir de 1 USD, 1 €, 1 CAD, 1 AUD, 1 SGD, 10 HKD ou 10 CNH, selon la devise de la catégorie concernée
(majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés le 31 décembre de chaque année.
Concernant les détenteurs d’Actions de distribution, les
dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Global Real Return Fund (EUR)

### SUPPLÉMENT 16, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Un investissement dans le Compartiment ne doit pas représenter une proportion trop importante d’un portefeuille et peut ne pas convenir à tous les investisseurs.
- Le Compartiment peut substantiellement investir dans des dépôts auprès d’établissements de crédit. Même si le Compartiment peut investir dans des instruments du marché monétaire et des dépôts en numéraire, les Actions dans le Compartiment ne sauraient constituer des dépôts et diffèrent des dépôts par nature en ceci que l’investissement n’est pas garanti et que sa valeur est susceptible de fluctuer. Les investissements dans le Compartiment impliquent certains risques d’investissement, dont la perte éventuelle du capital.


#### Gestionnaire de portefeuille
Newton Investment Management Limited

#### Gestionnaire de portefeuille délégué
Le Gestionnaire de portefeuille peut déléguer certaines ou la totalité de ses fonctions de gestion
d’investissement eu égard au présent Compartiment à
Newton Investment Management North America LLC (le
« Gestionnaire de portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique « Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Euro

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée occasionnellement par les Administrateurs, à condition
que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| Euro A | EUR | 5 000 | 5 % | 1,50 % | 0 % | EURIBOR à 1 mois + 4 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 1,50 % | 0 % | EURIBOR à 1 mois + 4 % |
| Sterling H (Cap.) (couverte) | GBP | 5 000 | 5 % | 1,50 % | 0 % | SONIA (composé à 30 jours) + 4 % |
| CHF H (Cap.) (couverte) | CHF | 5 000 | 5 % | 1,50 % | 0 % | SARON (composé à 30 jours) + 4 % |

| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| --- | --- | --- | --- | --- | --- | --- |
| USD H (Cap.) (couverte) | USD | 5 000 | 5 % | 1,50 % | 0 % | SOFR (composé à 30 jours) + 4 % |
| AUD H (Cap.) (couverte) | AUD | 5 000 | 5 % | 1,50 % | 0 % | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 4 % |
| CAD H (Cap.) (couverte) | CAD | 5 000 | 5 % | 1,50 % | 0 % | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 4 % |
| HKD H (Cap.) (couverte) | HKD | 50 000 | 5 % | 1,50 % | 0 % | HIBOR HKD à 1 mois + 4 % |
| CNH H (Cap.) (couverte) | CNH | 50 000 | 5 % | 1,50 % | 0 % | HIBOR CNH à 1 mois + 4 % |
| SGD H (Cap.) (couverte) | SGD | 5 000 | 5 % | 1,50 % | 0 % | SIBOR SGD à 1 mois + 4 % |

| Actions « G » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 1,00 % | 0 % | EURIBOR à 1 mois + 4 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 1,00 % | 0 % | EURIBOR à 1 mois + 4 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| Euro C | EUR | 5 000 000 | 5 % | 1,00 % | 0 % | EURIBOR à 1 mois + 4 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % | EURIBOR à 1 mois + 4 % |
| CHF I (Cap.) (couverte) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % | SARON (composé à 30 jours) + 4 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| Euro W | EUR | 15 000 000 | 5 % | 0,75 % | 0 % | EURIBOR à 1 mois + 4 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % | EURIBOR à 1 mois + 4 % |
| USD W (Cap.) (couverte) | USD | 15 000 000 | 5 % | 0,75 % | 0 % | SOFR (composé à 30 jours) + 4 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % | SONIA (composé à 30 jours) + 4 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % | SARON (composé à 30 jours) + 4 % |
| AUD W (Cap.) (couverte) | AUD | 15 000 000 | 5 % | 0,75 % | 0 % | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 4 % |
| CAD W (Cap.) (couverte) | CAD | 15 000 000 | 5 % | 0,75 % | 0 % | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 4 % |

| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| --- | --- | --- | --- | --- | --- | --- |
| HKD W (Cap.) (couverte) | HKD | 150 000 000 | 5 % | 0,75 % | 0 % | HIBOR HKD à 1 mois + 4 % |
| CNH W (Cap.) (couverte) | CNH | 150 000 000 | 5 % | 0,75 % | 0 % | HIBOR CNH à 1 mois + 4 % |
| SGD W (Cap.) (couverte) | SGD | 15 000 000 | 5 % | 0,75 % | 0 % | SIBOR SGD à 1 mois + 4 % |

| Actions « Z » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| Euro Z (Dist.) | EUR | 200 000 000 | 5 % | 0,65 % | 0 % | EURIBOR à 1 mois + 4 % |
| Euro Z (Cap.) | EUR | 200 000 000 | 5 % | 0,65 % | 0 % | EURIBOR à 1 mois + 4 % |

| Actions « X » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| Euro X | EUR | Aucun(e) | 0 % | 0 % | 0 % | EURIBOR à 1 mois + 4 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment a pour objectif de réaliser un rendement total supérieur à l’indice de référence monétaire (tel que décrit ci-dessous) sur un horizon de
placement de 3 à 5 ans.

##### Politique d’investissement
Le Compartiment aura la possibilité d’investir librement dans une gamme étendue de classes d’actifs, avec l’objectif de maintenir une exposition au risque modérée à tout moment. Le Compartiment est constitué d’un
portefeuille mondial composé de divers actifs. Le
Gestionnaire de portefeuille aura toute discrétion pour
allouer ses investissements. Il se basera, pour ce faire, sur son approche d’investissement mondial exclusive qu’il appliquera au sein de chaque classe d’actifs. Le
Compartiment ne sera pas nécessairement investi simultanément dans chacune des classes d’actifs.
En règle générale, le Compartiment peut investir dans des actions et titres apparentés, des titres de créance et apparentés, des IFD (y compris les IFD sur devises), des organismes de placement collectif (« OPC »), des dépôts, des liquidités et équivalents et des instruments du marché monétaire. Chacun de ces titres est présenté ci- dessous de façon plus détaillée.
Les actions et titres apparentés dans lesquels le Compartiment peut investir sont principalement, mais de façon non limitative, des actions ordinaires, des actions privilégiées, des titres convertibles ou échangeables en
actions ainsi que des certificats représentatifs de titres américains et internationaux cotés ou négociés sur des Marchés éligibles du monde entier.
Les titres de créance et apparentés dans lesquels le
Compartiment peut investir seront principalement, mais sans s’y limiter, des obligations à taux fixe ou variable d’émetteurs internationaux, souverains, d’États, d’agences supranationales, de sociétés, de banques et d’obligations autres, ainsi que d’autres titres de créance
et apparentés tels que des débentures, des billets (y
compris des billets émis par des sociétés ou des entités souveraines, à taux variable ou fixe, et à échéance d’un an minimum) ainsi que des titres adossés à des actifs ou
à des créances hypothécaires.
Le Compartiment peut investir dans des titres de qualité investment grade ou de qualité inférieure à investment grade, telle que déterminée par une Agence de notation reconnue. Les investissements dans des titres à revenu fixe de qualité inférieure à investment grade ne devraient pas dépasser 30 % de la Valeur liquidative du Compartiment et seront généralement nettement inférieurs à 30 %.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des CoCo. Veuillez consulter la section du Prospectus intitulée « Risque lié aux titres
convertibles conditionnels (« CoCo ») pour plus de détails sur les risques associés aux CoCo.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des obligations structurées.
Le Compartiment peut investir plus de 10 % et jusqu’à 35 % de sa Valeur liquidative dans des titres de créance émis et/ou garantis par un même émetteur souverain (y
compris son gouvernement ou des autorités publiques ou
locales), de qualité inférieure à investment grade (c.-à-d.
BB+ ou moins), tels que notés par une Agence de notation reconnue. Le Brésil, l’Indonésie et la Hongrie sont des exemples d’émetteurs souverains. Ces investissements sont basés sur l’appréciation professionnelle du Gestionnaire de portefeuille, dont les motifs d’investissement peuvent inclure des perspectives positives/favorables pour l’émetteur souverain, une possible amélioration de la notation et des variations
attendues de la valeur de ces investissements en raison des changements de notations. Veuillez noter que la notation des émetteurs souverains peut changer de temps à autre et que les émetteurs souverains susmentionnés servent uniquement de référence et peuvent changer en même temps que leur notation.
En outre, le Compartiment n’investira pas plus de 10 % de sa Valeur liquidative au total dans des OPC.
Afin de fournir liquidité et couverture aux expositions générées par l’utilisation d’IFD, la majorité des actifs du Compartiment peuvent à tout moment être investis dans
des liquidités, des instruments du marché monétaire, y compris, mais sans s’y limiter, des billets de trésorerie, des obligations d’État à taux fixe ou variable et de qualité investment grade ou inférieure (tel que déterminé par une
Agence de notation reconnue), des certificats de dépôt et des OPC.
Le Compartiment peut investir dans des matières premières et dans les secteurs de l’immobilier, des énergies renouvelables et des infrastructures par le biais d’une combinaison d’OPC (y compris des fonds négociés
en Bourse à capital variable), d’actions et titres apparentés (comme les sociétés d’investissement immobilier cotés ou « REIT » et d’autres fonds cotés à
capital fixe) et des instruments financiers à revenu fixe
(comme les obligations négociées en Bourse, [dont les matières premières et les certificats négociés en Bourse]). Tout investissement dans des fonds cotés à capital fixe constituera un investissement dans un titre
négociable conformément aux exigences de la Banque centrale. Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des titres de créance et
apparentés en République populaire de Chine (« RPC ») négociés sur le marché obligataire interbancaire chinois (« CIBM ») via le programme Bond Connect (décrit plus en
détail à l’Annexe VI du Prospectus).
L’achat d’actions A chinoises via le Stock Connect est l’une des méthodes utilisées par le Compartiment pour acquérir une exposition aux titres chinois. Le Compartiment peut investir jusqu’à 10 % de sa Valeur
liquidative dans des actions chinoises de classe A par le
biais du Stock Connect. Le programme Stock Connect est présenté plus en détail dans l’Annexe V du Prospectus.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des valeurs mobilières qui ne sont pas cotées ou négociées sur des Marchés éligibles.

##### Indice de référence
EURIBOR à 1 mois + 4 % par an (l’« Indice de référence monétaire »).
Le Compartiment utilise l’Indice de référence monétaire comme objectif de performance à atteindre ou dépasser sur une période de 5 ans, avant déduction des frais.
L’EURIBOR (Euro Interbank Offer Rate) est un taux de référence constitué à partir du taux d’intérêt moyen auquel les banques de la zone euro offrent des prêts à
court terme non garantis sur le marché interbancaire.
Le Compartiment est géré activement, ce qui signifie que le Gestionnaire de portefeuille a tout pouvoir pour
sélectionner les investissements sur la base de l’objectif et de la politique d’investissement.

##### Stratégie d’investissement
La philosophie d’investissement du Gestionnaire de portefeuille se fonde sur la conviction qu’aucune société, aucun marché ni aucune économie ne peuvent être
considérés isolément. Ils doivent tous être envisagés dans un contexte global. Le Gestionnaire de portefeuille estime que les événements qui surviennent dans le monde influent sur tous les marchés financiers et que, par conséquent, un investissement réussi dans des titres à la diversification internationale implique de bien comprendre le monde dans son ensemble.
Le Gestionnaire de portefeuille identifie les thèmes qui touchent à des changements majeurs au niveau international et les utilise pour étayer ses idées
d’investissement. Cette approche thématique mondiale permet au Gestionnaire de portefeuille d’acquérir une perspective à long terme sur les marchés financiers et
les économies du monde entier, en gardant toujours une vision d’ensemble. La perspective est une caractéristique essentielle du processus d’investissement, car elle permet d’anticiper les évolutions à l’échelle mondiale et oriente les analystes et gestionnaires de portefeuille vers
les opportunités rentables.
L’approche de rendement réel mondial est une stratégie multi-actifs à gestion active et principalement basée sur
des actifs « conventionnels » et le recours aux IFD pour protéger le capital ou générer des revenus. Les portefeuilles de rendement ciblé multi-actifs sont
construits d’après cette vision globale et suivent une approche d’investissement sans contrainte régionale, sectorielle ni indicielle. Le Gestionnaire de portefeuille adapte les caractéristiques d’investissement visées aux évolutions de marché telles qu’il les perçoit. L’allocation d’actifs du Compartiment peut varier en fonction du point de vue du Gestionnaire de portefeuille sur les conditions fondamentales de l’économie et du marché ainsi que sur les tendances en matière d’investissement dans le monde, tout en prenant en considération des facteurs comme la liquidité, les coûts, la durée d’exécution, le caractère intéressant relatif des titres individuels et des
émetteurs disponibles sur le marché.

##### Règlement sur la publication d’informations en matière de finance durable
La prise en compte du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque
en matière de durabilité associé aux investissements sous-jacents, il évalue le risque qu’un événement ou une condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Le Gestionnaire de portefeuille a accès à diverses
catégories de données ESG fournies par des tiers, qui permettent d’identifier les problèmes ESG potentiels auxquels un émetteur peut être confronté. Cela inclut,
entre autres, l’exposition à des activités pouvant être considérées comme nocives pour l’environnement ou la société. Ces données, ainsi que celles obtenues par le
Gestionnaire de portefeuille dans le cadre de sa propre recherche sur l’investissement responsable, constituent une part importante de la prise en compte et de l’évaluation du niveau de risque en matière de durabilité auquel un investissement peut être soumis.
Cette évaluation est intégrée au processus de recherche au niveau des titres, qui repose sur l’analyse fondamentale des opportunités d’investissement individuelles à travers un certain nombre de facteurs
différents, notamment :
- les caractéristiques financières ou économiques fondamentales ;
- l’évaluation ;
- le profil risque/rendement ; et
- les caractéristiques ESG de l’émetteur, y compris la compréhension de la manière dont cesconsidérations peuvent avoir un impact sur les rendements économiques.

Le Gestionnaire de portefeuille tiendra compte des informations recueillies à partir de l’analyse fondamentale dans sa décision d’acquérir une participation dans une société émettrice ou de conserver
une position donnée.
Comme expliqué ci-dessus, l’évaluation et la gestion des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours possible qu’un Événement ESG ait une incidence négative
importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du régime des principales incidences négatives prévu à
l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire
soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs
de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins
d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur devises Contrats à terme standardisés sur obligations d’État Contrats à terme standardisés sur indices boursiers Contrats à terme standardisés sur indices de volatilité Contrats à terme standardisés sur actions |
| --- | --- |
| Options | Options sur actions (titre individuel, indice, secteur, panier personnalisé) Options à faible prix d’exercice (LEPO) et Bons de souscription à faible prix d’exercice (LEPW) Options sur indices Options sur obligations Options sur contrats à terme standardisés sur devises Options sur swaps Options sur indices de volatilité Options sur devises (incluant les Options de change) Options sur contrats à terme standardisés |
| Swaps | Swaps de défaut de crédit (titre individuel, indice et panier personnalisé) Swaps de taux d’intérêt Swaps d’actions (titre individuel, indice, secteur et panier personnalisé) Swaps de variance Swaps de rendement total (titre individuel, crédit, indice et panier personnalisé) Contrats sur différence |
| Contrats à terme | Contrats de change à terme |
| Titres avec IFD intégrés/effet de levier | Obligations convertibles Titres convertibles conditionnels (CoCo) Titres adossés à des actifs (ABS) Titres adossés à des créances hypothécaires (MBS) Bons de souscription Billets structurés |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne peut pas accéder
directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | Indice Markit iTraxx CDS Index |

| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices d’actions utilisés pour offrir une exposition aux marchés de titres régionaux et mondiaux de manière plus rentable ou plus efficace que par l’achat de titres physiques. | Borsa Istanbul 30 Dax 30 Index Euro Stoxx 50 Index FTSE 100 Index FTSE All Share Index FTSE World Index Hang Seng Index KOSPI Index MDAX Index MSCI All Countries World Index MSCI Emerging Markets Index Nasdaq Composite Index Nikkei 225 Index Russell 2000 Index S&P/ASX 200 Index S&P/TSX Composite Index S&P 500 Index Stoxx Europe 600 Index Stoxx Europe Small 200 |
| Indices de volatilité permettant de fournir une exposition à, ou exprimer le point de vue du Gestionnaire de portefeuille sur, la volatilité d’un marché ou d’une devise spécifique de manière plus rentable ou plus efficace que par l’achat de titres physiques. | Chicago Board Options Exchange SPX Volatility Index |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Les
indices financiers restants seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages,
les coûts associés ou la pondération des actions de l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

##### Positions longues et courtes
Le Compartiment peut construire des expositions synthétiques longues et synthétiques courtes dans
chacune des classes d’actifs référencées dans la Politique d’investissement pour atteindre son objectif d’investissement. L’exposition longue nette totale (après prise en compte de la couverture) par le biais d’IFD ne
devrait pas dépasser 100 % de la Valeur liquidative du Compartiment et l’exposition nette courte totale ne devrait pas dépasser non plus 100 % de la Valeur liquidative du Compartiment (en utilisant l’approche par les engagements).
Exposition globale et effet de levier 
Méthodologie de calcul de l’exposition globale : VaR absolue
Limite de VaR absolue : le portefeuille du Compartiment
ne dépassera pas 20 % de la Valeur liquidative (sur la base d’une période de détention de 20 Jours ouvrables).
L’effet de levier brut devrait varier entre : 0 % et 1 000 % de la Valeur liquidative du Compartiment. L’effet de levier brut peut toutefois dépasser ce niveau cible à certains
moments.
Pour plus d’informations sur l’approche de la VaR absolue et l’Effet de levier brut, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et
effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des OFT, c’est à
dire des accords de prêt de titres et des accords de
mise/prise en pension, comme décrit sous la rubrique
« Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et
aux OFT correspondent respectivement à 100 % et 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que ces expositions respectives aux TRS et aux OFT excèdent
30 % et 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet de TRS et OFT seront les titres dont la nature est conforme à la politique d’investissement du
Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif,
à savoir de 1 €, 1 USD, 1 GBP, 1 CAD, 1 AUD, 1 CHF, 1 SGD,
10 HKD ou 10 CNH selon la devise de la catégorie
concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés le 31 décembre de chaque année.
Concernant les détenteurs d’Actions de distribution, les
dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Global Equity Income Fund

### SUPPLÉMENT 17, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. L’utilisation d’IFD à des fins d’investissement sera limitée. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- La Valeur liquidative du Compartiment peut faire l’objet d’une volatilité élevée en raison de sa politique d’investissement.
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.
- Il est proposé que les commissions et frais du Compartiment soient imputés au capital de ce dernier en vue de maximiser les distributions.

Veuillez consulter la section « Commissions et
frais » dans le Prospectus pour plus d’informations.

#### Gestionnaire de portefeuille
Newton Investment Management Limited

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro A | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| USD A | USD | 5 000 | 5 % | 2,00 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 2,00 % | 0 % |
| Sterling A (Cap.) | GBP | 5 000 | 5 % | 2,00 % | 0 % |
| Sterling A (Dist.) | GBP | 5 000 | 5 % | 2,00 % | 0 % |
| Euro H (couverte) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| Euro H (Dist.) (couverte) | EUR | 5 000 | 5 % | 2,00 % | 0 % |

| Actions « B » et Actions « J (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro B | EUR | 10 000 | 5 % | 1,50 % | 0 % |
| Euro B (Dist.) | EUR | 10 000 | 5 % | 1,50 % | 0 % |
| USD B | USD | 10 000 | 5 % | 1,50 % | 0 % |
| USD B (Dist.) | USD | 10 000 | 5 % | 1,50 % | 0 % |
| Sterling B (Cap.) | GBP | 10 000 | 5 % | 1,50 % | 0 % |
| Sterling B (Dist.) | GBP | 10 000 | 5 % | 1,50 % | 0 % |
| AUD B (Cap.) | AUD | 10 000 | 5 % | 1,50 % | 0 % |
| AUD B (Dist.) | AUD | 10 000 | 5 % | 1,50 % | 0 % |
| CAD B (Cap.) | CAD | 10 000 | 5 % | 1,50 % | 0 % |
| CAD B (Dist.) | CAD | 10 000 | 5 % | 1,50 % | 0 % |
| HKD B (Cap.) | HKD | 100 000 | 5 % | 1,50 % | 0 % |
| HKD B (Dist.) | HKD | 100 000 | 5 % | 1,50 % | 0 % |
| CNH B (Cap.) | CNH | 100 000 | 5 % | 1,50 % | 0 % |
| CNH B (Dist.) | CNH | 100 000 | 5 % | 1,50 % | 0 % |
| SGD B (Cap.) | SGD | 10 000 | 5 % | 1,50 % | 0 % |
| SGD B (Dist.) | SGD | 10 000 | 5 % | 1,50 % | 0 % |
| Euro J (Cap.) (couverte) | EUR | 10 000 | 5 % | 1,50 % | 0 % |
| Euro J (Dist.) (couverte) | EUR | 10 000 | 5 % | 1,50 % | 0 % |
| SGD J (Cap.) (couverte) | SGD | 10 000 | 5 % | 1,50 % | 0 % |
| SGD J (Dist.) (couverte) | SGD | 10 000 | 5 % | 1,50 % | 0 % |
| AUD J (Cap.) (couverte) | AUD | 10 000 | 5 % | 1,50 % | 0 % |
| AUD J (Dist.) (couverte) | AUD | 10 000 | 5 % | 1,50 % | 0 % |
| CAD J (Cap.) (couverte) | CAD | 10 000 | 5 % | 1,50 % | 0 % |
| CAD J (Dist.) (couverte) | CAD | 10 000 | 5 % | 1,50 % | 0 % |
| CNH J (Cap.) (couverte) | CNH | 100 000 | 5 % | 1,50 % | 0 % |
| CNH J (Dist.) (couverte) | CNH | 100 000 | 5 % | 1,50 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Cap.) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Dist.) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro C | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 1,00 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Sterling C (Cap.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling C (Dist.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling I (Cap.) (couverte) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling I (Dist.) (couverte) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| SGD I (Cap.) (couverte) | SGD | 5 000 000 | 5 % | 1,00 % | 0 % |
| SGD I (Dist.) (couverte) | SGD | 5 000 000 | 5 % | 1,00 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro W | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| USD W | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Cap.) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Dist.) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| HKD W (Dist.) | HKD | 15 000 000 | 5 % | 0,75 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| SGD W (Cap.) (couverte) | SGD | 15 000 000 | 5 % | 0,75 % | 0 % |
| SGD W (Dist.) (couverte) | SGD | 15 000 000 | 5 % | 0,75 % | 0 % |
| AUD W (Dist.) (couverte) | AUD | 15 000 000 | 5 % | 0,75 % | 0 % |
| CAD W (Dist.) (couverte) | CAD | 15 000 000 | 5 % | 0,75 % | 0 % |
| CNH W (Dist.) (couverte) | CNH | 150 000 000 | 5 % | 0,75 % | 0 % |

| Actions « Z » et Actions « Z (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro Z (Dist.) | EUR | 200 000 000 | 5 % | 0,65 % | 0 % |
| Euro Z (Cap.) | EUR | 200 000 000 | 5 % | 0,65 % | 0 % |
| Euro Z (Cap.) (couverte) | EUR | 200 000 000 | 5 % | 0,65 % | 0 % |
| USD Z (Dist.) | USD | 200 000 000 | 5 % | 0,65 % | 0 % |
| USD Z (Cap.) | USD | 200 000 000 | 5 % | 0,65 % | 0 % |
| Sterling Z (Dist.) | GBP | 200 000 000 | 5 % | 0,65 % | 0 % |
| Sterling Z (Cap.) | GBP | 200 000 000 | 5 % | 0,65 % | 0 % |

| Actions « X » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| CAD X (Cap.) | CAD | Aucun(e) | 0 % | 0 % | 0 % |
| JPY X (Cap.) | JPY | Aucun(e) | 0 % | 0 % | 0 % |
| JPY X (Dist.) | JPY | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
L’objectif d’investissement du Compartiment est de générer des distributions annuelles de dividendes et de réaliser une appréciation du capital à long terme en
investissant principalement en actions et titres apparentés du monde entier.

##### Politique d’investissement
Le Compartiment investira principalement, c’est-à-dire au moins les trois quarts de sa Valeur liquidative, dans un portefeuille d’actions et titres apparentés, dont, entre autres, des actions privilégiées convertibles, bons de
souscription (jusqu’à 10 % de sa Valeur liquidative) et des obligations convertibles (jusqu’à 10 % de sa Valeur liquidative, et qui ne sont pas notées par une Agence de
notation reconnue) de sociétés du monde entier cotées ou négociées sur des Marchés éligibles.
La sélection des actions se concentre sur les sociétés disposant de solides fondamentaux, dotées d’une valorisation intéressante et remplissant les critères de
rendement du Gestionnaire de portefeuille s’agissant des objectifs d’investissement du Compartiment qui consistent à générer des distributions annuelles de dividendes ainsi qu’une appréciation du capital à long
terme.
Le Compartiment recourra à des techniques et des IFD à des fins d’investissement, comme détaillé dans la rubrique « Utilisation d’IFD » ci-dessous, et de protection contre les risques de taux de change, comme indiqué ci-
dessous à la rubrique « Gestion efficace de portefeuille ».
Le Compartiment investit à l’échelle mondiale et, bien que ses investissements ne soient pas tenus d’être limités ou concentrés sur une région géographique ou un
marché en particulier, le Compartiment peut se trouver
exposé de manière significative à certains marchés, dont les États-Unis. Il n’existe également aucune restriction quant à la capitalisation boursière des actions et titres
apparentés dans lesquels le Compartiment peut investir.
L’achat d’actions A chinoises via le Stock Connect est l’une des méthodes utilisées par le Compartiment pour acquérir une exposition aux titres chinois. Le Compartiment peut investir jusqu’à 10 % de sa Valeur
liquidative dans des actions chinoises de classe A par le
biais du Stock Connect. Le programme Stock Connect est présenté plus en détail dans l’Annexe V du Prospectus.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des actions cotées ou négociées à la Bourse de Moscou.
En outre, le Compartiment ne peut pas investir plus de 10 % de sa Valeur liquidative au total dans des organismes de placement collectif (« OPC »). Un investissement dans un OPC peut être utilisé à des fins
de gestion de liquidité ou pour offrir une exposition aux actions et titres apparentés énoncés dans la politique
d’investissement ci-dessus.

##### Indice de référence
L’indice FTSE World TR Index (l’« Indice de référence »). L’Indice de référence est un indice pondéré par la capitalisation boursière qui représente la performance
des actions de sociétés à forte et moyenne capitalisation des marchés développés et des marchés émergents
« avancés » de la gamme FTSE Global Equity Index et couvre 90-95 % de la capitalisation boursière
investissable. L’Indice de référence peut servir de base pour les produits d’investissement, tels que les fonds, les IFD et les fonds négociés en Bourse.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour investir en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement.
Bien que les avoirs du Compartiment puissent inclure des composantes de l’Indice de référence, la sélection des placements et leurs pondérations dans le portefeuille ne
sont pas influencées par celles de l’Indice de référence. La stratégie d’investissement ne restreint pas la mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.

##### Stratégie d’investissement
La philosophie d’investissement est basée sur la conviction du Gestionnaire de portefeuille qu’aucune société, aucun marché ni aucune économie ne peuvent
être considérés isolément, chacun de ces éléments devant être examiné dans un contexte global. Le Gestionnaire de portefeuille estime que les événements qui surviennent dans le monde influent sur tous les
marchés financiers et qu’un investissement réussi dans
des actions mondiales à plus fort rendement implique de
bien comprendre le monde dans son ensemble.
Le Gestionnaire de portefeuille identifie les thèmes qui touchent à des changements majeurs au niveau
international et les utilise pour étayer nos idées d’investissement. Cette approche thématique mondiale permet au Gestionnaire de portefeuille d’acquérir une perspective à long terme sur les marchés financiers et
les économies du monde entier, en gardant une vision d’ensemble. La perspective est une caractéristique essentielle du processus d’investissement, car elle permet d’anticiper les évolutions à l’échelle mondiale et oriente les analystes et gestionnaires de portefeuille vers
les opportunités rentables.
Les portefeuilles de revenu d’actions mondiales ont été construits d’après cette vision globale, au moyen du processus d’investissement axé sur la recherche ascendante adopté par le Gestionnaire de portefeuille. Cette approche met l’accent sur les actions de sociétés
assorties d’une valorisation intéressante et offrant de bonnes perspectives et de solides fondamentaux. La stratégie de revenu d’actions mondiales répond à un style d’investissement intrinsèque ; chaque position du
portefeuille doit rapporter au moins 25 % de plus que l’Indice de référence au moment de l’achat. Toute position dont le rendement prospectif chute en deçà du rendement de l’indice comparatif est vendue. Les titres les plus intéressants pour cette stratégie tendent à être
ceux de sociétés de grande qualité, générant des liquidités et offrant un dividende fiable.

##### Règlement sur la publication d’informations en matière de finance durable
La prise en compte du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents, il évalue le risque qu’un événement ou une
condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Le Gestionnaire de portefeuille a accès à diverses catégories de données ESG fournies par des tiers, qui
permettent d’identifier les problèmes ESG potentiels
auxquels un émetteur peut être confronté. Cela inclut, entre autres, l’exposition à des activités pouvant être considérées comme nocives pour l’environnement ou la société. Ces données, ainsi que celles obtenues par le
Gestionnaire de portefeuille dans le cadre de sa propre recherche sur l’investissement responsable, constituent une part importante de la prise en compte et de l’évaluation du niveau de risque en matière de durabilité auquel un investissement peut être soumis.
Cette évaluation est intégrée au processus de recherche au niveau des titres, qui repose sur l’analyse fondamentale des opportunités d’investissement individuelles à travers un certain nombre de facteurs
différents, notamment :
- les caractéristiques financières ou économiques fondamentales ;
- l’évaluation ;
- le profil risque/rendement ; et
- les caractéristiques ESG de l’émetteur, y compris la compréhension de la manière dont ces considérations peuvent avoir un impact sur lesrendements économiques.

Le Gestionnaire de portefeuille tiendra compte des informations recueillies à partir de l’analyse fondamentale dans sa décision d’acquérir une participation dans une société émettrice ou de conserver
une position donnée.
Comme expliqué ci-dessus, l’évaluation et la gestion des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours possible qu’un Événement ESG ait une incidence négative
importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire
soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure
actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en
Bourse ou de gré à gré suivants, à des fins d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur actions Contrats à terme standardisés sur indices boursiers Contrats à terme standardisés sur devises |
| --- | --- |
| Options | Options sur contrats à terme standardisés de devises Options sur devises (y compris options de change) Bons de souscription Options sur actions (valeur individuelle, indice, secteur, panier personnalisé) Options d’achat couvertes Options sur contrats à terme d’actions (valeur individuelle, indice, secteur, panier personnalisé) |
| Contrats à terme (livra- bles et non livrables) | Contrats de change à terme |
| Titres avec IFD intégrés/effet de levier | Obligations convertibles Actions privilégiées convertibles |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices financiers suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne
peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices d’actions utilisés pour offrir une exposition aux marchés de titres régionaux et mondiaux de manière plus rentable ou plus efficace que par l’achat de titres physiques. | Indice Dax 30 Index Indice Euro Stoxx 50 Index Indice FTSE 100 Index Indice FTSE All Share Index Indice FTSE World Index Indice Hang Seng Index Indice KOSPI Index Indice MSCI All Countries World Index Indice MSCI Emerging Markets Index Indice Nasdaq Composite Index Indice Nikkei 225 Index Indice Russell 2000 Index S&P/ASX 200 Index Indice S&P/TSX Composite Index Indice S&P 500 Index Indice Stoxx Europe 600 Index |

Ces indices financiers seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages, les coûts
associés ou la pondération des actions de l’indice
financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

#### Enregistrement en Allemagne
Ce Compartiment est enregistré à la vente en Allemagne. Le Compartiment est classé en tant que Fonds
d’investissement aux fins de l’impôt allemand et, à ce
titre, il investira en permanence plus de 50 % de ses actifs en actions au sens de l’Article 2, paragraphe 8 de la Loi allemande sur la fiscalité des investissements.

#### Enregistrement à Hong Kong
Ce Compartiment est enregistré à la vente à Hong Kong.

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 50 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par
la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux
OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 £, 1 €, 1 CAD, 1 AUD, 1 SGD, 10 HKD,
10 CNH ou 100 ¥ selon la devise de la catégorie
concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés trimestriellement, les
31 décembre, 31 mars, 30 juin et 30 septembre. En ce qui concerne les détenteurs d’Actions de distribution, les dividendes déclarés seront normalement versés au plus
tard le 11 février, le 11 mai, le 11 août et le 11 novembre, respectivement. De plus amples informations sont
disponibles à la section « La Société – Politique de
distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Global Dynamic Bond Fund

### SUPPLÉMENT 18, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. L’utilisation d’IFD à des fins d’investissement sera limitée. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Newton Investment Management Limited

#### Gestionnaire de portefeuille délégué
Le Gestionnaire de portefeuille peut déléguer certaines ou la totalité de ses fonctions de gestion
d’investissement eu égard au présent Compartiment à
Newton Investment Management North America LLC (le
« Gestionnaire de portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique « Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les
tableaux ci-après et se différencient par leur devise de référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| USD A | USD | 5 000 | 5 % | 1,25 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 1,25 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| Euro A | EUR | 5 000 | 5 % | 1,25 % | 0 % | EURIBOR à 1 mois + 2 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 1,25 % | 0 % | EURIBOR à 1 mois + 2 % |
| Sterling A (Cap.) | GBP | 5 000 | 5 % | 1,25 % | 0 % | SONIA (composé à 30 jours) + 2 % |
| Sterling A (Dist.) | GBP | 5 000 | 5 % | 1,25 % | 0 % | SONIA (composé à 30 jours) + 2 % |
| CAD A (Cap.) | CAD | 5 000 | 5 % | 1,25 % | 0 % | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 2 % |

| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| --- | --- | --- | --- | --- | --- | --- |
| CAD A (Dist.) | CAD | 5 000 | 5 % | 1,25 % | 0 % | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 2 % |
| AUD A (Cap.) | AUD | 5 000 | 5 % | 1,25 % | 0 % | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 2 % |
| AUD A (Dist.) | AUD | 5 000 | 5 % | 1,25 % | 0 % | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 2 % |
| HKD A (Cap.) | HKD | 50 000 | 5 % | 1,25 % | 0 % | HIBOR HKD à 1 mois + 2 % |
| HKD A (Dist.) | HKD | 50 000 | 5 % | 1,25 % | 0 % | HIBOR HKD à 1 mois + 2 % |
| CNH A (Cap.) | CNH | 50 000 | 5 % | 1,25 % | 0 % | HIBOR CNH à 1 mois + 2 % |
| CNH A (Dist.) | CNH | 50 000 | 5 % | 1,25 % | 0 % | HIBOR CNH à 1 mois + 2 % |
| SGD A (Cap.) | SGD | 5 000 | 5 % | 1,25 % | 0 % | SIBOR SGD à 1 mois + 2 % |
| SGD A (Dist.) | SGD | 5 000 | 5 % | 1,25 % | 0 % | SIBOR SGD à 1 mois + 2 % |
| Euro H (couverte) | EUR | 5 000 | 5 % | 1,25 % | 0 % | EURIBOR à 1 mois + 2 % |
| Euro H (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,25 % | 0 % | EURIBOR à 1 mois + 2 % |
| CHF H (Cap.) (couverte) | CHF | 5 000 | 5 % | 1,25 % | 0 % | SARON (composé à 30 jours) + 2 % |
| CAD H (Cap.) (couverte) | CAD | 5 000 | 5 % | 1,25 % | 0 % | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 2 % |
| CAD H (Dist.) (couverte) | CAD | 5 000 | 5 % | 1,25 % | 0 % | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 2 % |
| SGD H (Cap.) (couverte) | SGD | 5 000 | 5 % | 1,25 % | 0 % | SIBOR SGD à 1 mois + 2 % |
| SGD H (Dist.) (couverte) | SGD | 5 000 | 5 % | 1,25 % | 0 % | SIBOR SGD à 1 mois + 2 % |
| AUD H (Cap.) (couverte) | AUD | 5 000 | 5 % | 1,25 % | 0 % | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 2 % |
| AUD H (Dist.) (couverte) | AUD | 5 000 | 5 % | 1,25 % | 0 % | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 2 % |
| CNH H (Cap.) (couverte) | CNH | 50 000 | 5 % | 1,25 % | 0 % | HIBOR CNH à 1 mois + 2 % |
| CNH H (Dist.) (couverte) | CNH | 50 000 | 5 % | 1,25 % | 0 % | HIBOR CNH à 1 mois + 2 % |
| DKK H (Cap.) (couverte) | DKK | 50 000 | 5 % | 1,25 % | 0 % | LIBOR DKK à 1 mois + 2 % |
| NOK H (Cap.) (couverte) | NOK | 50 000 | 5 % | 1,25 % | 0 % | LIBOR NOK à 1 mois + 2 % |
| SEK H (Cap.) (couverte) | SEK | 50 000 | 5 % | 1,25 % | 0 % | LIBOR SEK à 1 mois + 2 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| USD G (Cap.) | USD | 5 000 | 5 % | 0,75 % | 0 % | SOFR (composé à 30 jours) + 2 % |

| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| --- | --- | --- | --- | --- | --- | --- |
| USD G (Dist.) | USD | 5 000 | 5 % | 0,75 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 0,75 % | 0 % | EURIBOR à 1 mois + 2 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 0,75 % | 0 % | EURIBOR à 1 mois + 2 % |
| Euro G (Cap.) (couverte) | EUR | 5 000 | 5 % | 0,75 % | 0 % | EURIBOR à 1 mois + 2 % |
| Euro G (Dist.) (couverte) | EUR | 5 000 | 5 % | 0,75 % | 0 % | EURIBOR à 1 mois + 2 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| USD C | USD | 5 000 000 | 5 % | 0,75 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 0,75 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| Euro C (Cap.) | EUR | 5 000 000 | 5 % | 0,75 % | 0 % | EURIBOR à 1 mois + 2 % |
| Sterling C (Dist.) | GBP | 5 000 000 | 5 % | 0,75 % | 0 % | SONIA (composé à 30 jours) + 2 % |
| Sterling C (Cap.) | GBP | 5 000 000 | 5 % | 0,75 % | 0 % | SONIA (composé à 30 jours) + 2 % |
| CHF C (Cap.) (couverte) | CHF | 5 000 000 | 5 % | 0,75 % | 0 % | SARON (composé à 30 jours) + 2 % |
| Euro I (couverte) | EUR | 5 000 000 | 5 % | 0,75 % | 0 % | EURIBOR à 1 mois + 2 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 0,75 % | 0 % | EURIBOR à 1 mois + 2 % |
| SGD I (Cap.) (couverte) | SGD | 5 000 000 | 5 % | 0,75 % | 0 % | SIBOR SGD à 1 mois + 2 % |
| SGD I (Dist.) (couverte) | SGD | 5 000 000 | 5 % | 0,75 % | 0 % | SIBOR SGD à 1 mois + 2 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| USD W | USD | 15 000 000 | 5 % | 0,50 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,50 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| HKD W (Dist.) | HKD | 150 000 000 | 5 % | 0,50 % | 0 % | HIBOR HKD à 1 mois + 2 % |
| Euro W (couverte) | EUR | 15 000 000 | 5 % | 0,50 % | 0 % | EURIBOR à 1 mois + 2 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,50 % | 0 % | EURIBOR à 1 mois + 2 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,50 % | 0 % | SONIA (composé à 30 jours) + 2 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,50 % | 0 % | SONIA (composé à 30 jours) + 2 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,50 % | 0 % | SARON (composé à 30 jours) + 2 % |

| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| --- | --- | --- | --- | --- | --- | --- |
| CAD W (Dist.) (couverte) | CAD | 15 000 000 | 5 % | 0,50 % | 0 % | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 2 % |
| SGD W (Cap.) (couverte) | SGD | 15 000 000 | 5 % | 0,50 % | 0 % | SIBOR SGD à 1 mois + 2 % |
| SGD W (Dist.) (couverte) | SGD | 15 000 000 | 5 % | 0,50 % | 0 % | SIBOR SGD à 1 mois + 2 % |
| AUD W (Dist.) (couverte) | AUD | 15 000 000 | 5 % | 0,50 % | 0 % | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 2 % |
| CNH W (Dist.) (couverte) | CNH | 150 000 000 | 5 % | 0,50 % | 0 % | HIBOR CNH à 1 mois + 2 % |
| DKK W (Cap.) (couverte) | DKK | 150 000 000 | 5 % | 0,50 % | 0 % | LIBOR DKK à 1 mois + 2 % |
| NOK W (Cap.) (couverte) | NOK | 150 000 000 | 5 % | 0,50 % | 0 % | LIBOR NOK à 1 mois + 2 % |
| SEK W (Cap.) (couverte) | SEK | 150 000 000 | 5 % | 0,50 % | 0 % | LIBOR SEK à 1 mois + 2 % |
| JPY W (Cap.) (couverte) | JPY | 1 500 000 000 | 5 % | 0,50 % | 0 % | TONAR (composé à 30 jours) + 2 % |
| JPY W (Dist.) (couverte) | JPY | 1 500 000 000 | 5 % | 0,50 % | 0 % | TONAR (composé à 30 jours) + 2 % |

| Actions « Z » et Actions « Z (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| Sterling Z (Cap.) | GBP | 200 000 000 | 5 % | 0,35 % | 0 % | SONIA (composé à 30 jours) + 2 % |
| Sterling Z (Dist.) | GBP | 200 000 000 | 5 % | 0,35 % | 0 % | SONIA (composé à 30 jours) + 2 % |
| Sterling Z (Cap.) (couverte) | GBP | 200 000 000 | 5 % | 0,35 % | 0 % | SONIA (composé à 30 jours) + 2 % |
| Sterling Z (Dist.) (couverte) | GBP | 200 000 000 | 5 % | 0,35 % | 0 % | SONIA (composé à 30 jours) + 2 % |
| USD Z (Cap.) | USD | 200 000 000 | 5 % | 0,35 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| USD Z (Dist.) | USD | 200 000 000 | 5 % | 0,35 % | 0 % | SOFR (composé à 30 jours) + 2 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % | EURIBOR à 1 mois + 2 % |
| Sterling X (Cap.) | GBP | Aucun(e) | 0 % | 0 % | 0 % | SONIA (composé à 30 jours) + 2 % |
| CHF X (Cap.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % | SARON (composé à 30 jours) + 2 % |
| JPY X (Cap.) (couverte) | JPY | Aucun(e) | 0 % | 0 % | 0 % | TONAR (composé à 30 jours) + 2 % |

| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| --- | --- | --- | --- | --- | --- | --- |
| JPY X (Dist.) (couverte) | JPY | Aucun(e) | 0 % | 0 % | 0 % | TONAR (composé à 30 jours) + 2 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
L’objectif du Compartiment est de maximiser le rendement total tiré des revenus et de l’appréciation du capital en investissant principalement (c’est-à-dire au
moins les trois quarts de son actif total) dans un
portefeuille mondial diversifié composé majoritairement de titres à revenu fixe de sociétés et de gouvernements.

##### Politique d’investissement
Le Compartiment investira au moins trois quarts de sa Valeur liquidative dans un portefeuille d’obligations à taux fixe ou variable d’émetteurs internationaux, des marchés émergents, souverains, d’États, d’agences supranationales, d’entreprises ou de banques (y compris
les obligations hypothécaires et les obligations d’entreprise) et d’autres titres de créance et apparentés (tels que des débentures, des billets (y compris des
billets émis par des sociétés ou des entités souveraines,
à taux variable et fixe) ainsi que des titres adossés à des créances hypothécaires ou à d’autres types d’actifs, des certificats de dépôt et billets de trésorerie) cotés ou
négociés sur des Marchés éligibles du monde entier.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des CoCo. Veuillez consulter la section
du Prospectus intitulée « Risque lié aux titres convertibles conditionnels (« CoCo ») pour plus de détails sur les risques associés aux CoCo.
La notation de crédit minimum des instruments de créance et apparentés dans lesquels le Compartiment
peut investir au moment de l’achat est CCC-/Caa3 (ou son équivalent), telle qu’attribuée par une Agence de notation reconnue. En cas d’une divergence de notation, la notation la plus élevée sera prise en considération. Si un instrument n’est pas noté, il doit être de qualité équivalente à celle déterminée par le Gestionnaire de
portefeuille.
Par conséquent, le Compartiment peut investir dans des titres à revenu fixe émis par des sociétés ou des gouvernements ayant majoritairement une qualité
inférieure à investment grade. Il n’existe aucune limite concernant l’échéance maximale des titres.
Le Compartiment peut également investir dans des IFD, comme indiqué à la rubrique « Utilisation d’IFD » ci- dessous.
Le Compartiment peut également investir jusqu’à 10 % de sa Valeur liquidative dans d’autres organismes de placement collectif à capital variable (« OPC »). Les
investissements dans des OPC peuvent être utilisés à des fins de gestion de liquidité par le biais de placements dans des fonds monétaires ou pour obtenir une exposition à des obligations et autres titres repris ci- dessus.
Le Compartiment peut par ailleurs investir dans des fonds négociés en Bourse (« ETF », exchange traded funds) sur des Marchés éligibles et donnant une exposition aux marchés obligataires. Tout investissement dans des ETF à capital variable sera effectué
conformément aux limites d’investissement applicables
aux OPC, et tout investissement dans des ETF à capital
fixe sera effectué conformément aux limites d’investissement applicables aux valeurs mobilières, comme exposé au chapitre du Prospectus intitulé « La Société - Restrictions en matière d’investissement et d’emprunt ».
Il n’existe aucune limite formelle à la duration du Compartiment.
Le Compartiment peut investir plus de 10 % et jusqu’à 35 % de sa Valeur liquidative dans des titres de créance émis et/ou garantis par un même émetteur souverain (y
compris son gouvernement et les autorités publiques ou locales), de qualité inférieure à investment grade (c.-à-d. BB+ ou moins), tel que déterminé par une Agence de
notation reconnue. Le Brésil, l’Indonésie et la Hongrie sont des exemples d’émetteurs souverains. Ces investissements sont basés sur l’appréciation
professionnelle du Gestionnaire de portefeuille, dont les motifs d’investissement peuvent inclure des perspectives positives/favorables pour l’émetteur souverain, une possible amélioration de la notation et des variations
attendues de la valeur de ces investissements en raison des changements de notations. Veuillez noter que la notation des émetteurs souverains peut changer de temps à autre et que les émetteurs souverains susmentionnés servent uniquement de référence et peuvent changer en même temps que leur notation.
Le Compartiment pourra investir jusqu’à 10 % de sa Valeur liquidative en titres cotés ou négociés sur des marchés russes. De tels investissements ne pourront être
effectués que sur des Marchés éligibles figurant dans l’Annexe II du Prospectus.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des titres de créance et apparentés en
République populaire de Chine (« RPC ») négociés sur le marché obligataire interbancaire chinois (« CIBM ») via le programme Bond Connect (décrit plus en détail à
l’Annexe VI du Prospectus).

##### Indice de référence
SOFR (composé à 30 jours) + 2 % par an (l’« Indice de référence monétaire »).
Le SOFR (Secured Overnight Financing Rate) est une mesure générale du coût d’emprunt de liquidités à un jour garanties par des bons du Trésor américain et est
administré par la Réserve fédérale de New York.
Le Compartiment utilise l’Indice de référence monétaire comme objectif de performance à atteindre ou dépasser sur une période de 5 ans, avant déduction des frais.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour sélectionner les investissements sur la base de l’objectif et de la politique d’investissement.

##### Stratégie d’investissement
La philosophie d’investissement est basée sur la conviction du Gestionnaire de portefeuille qu’aucune société, aucun marché ni aucune économie ne peuvent
être considérés isolément, chacun de ces éléments devant être examiné dans un contexte global. Le Gestionnaire de portefeuille estime que les événements
qui surviennent dans le monde influent sur tous les marchés financiers et qu’un investissement réussi dans des obligations mondiales implique par conséquent de
bien comprendre le monde dans son ensemble.
Le Gestionnaire de portefeuille identifie les thèmes qui
touchent à des changements majeurs dans le monde et les utilise pour étayer ses idées d’investissement. Cette approche thématique mondiale lui permet d’acquérir une perspective à long terme sur les marchés financiers et
les économies du monde entier, en gardant toujours une vision d’ensemble. La perspective est une caractéristique essentielle du processus d’investissement, car elle permet d’anticiper les évolutions à l’échelle mondiale et oriente les analystes et gestionnaires de portefeuille vers
les opportunités rentables.
Dans le cadre de sa stratégie obligataire dynamique mondiale, le Gestionnaire de portefeuille investit dans une gamme diversifiée de titres à revenu fixe. Il identifie les thèmes influant sur les marchés obligataires et des devises, sélectionne les actifs susceptibles de bénéficier de cet impact et investit dans les actifs en question pour générer des rendements positifs.

##### Règlement sur la publication d’informations en matière de finance durable
La prise en compte du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents, il évalue le risque qu’un événement ou une
condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Le Gestionnaire de portefeuille a accès à diverses catégories de données ESG fournies par des tiers, qui
permettent d’identifier les problèmes ESG potentiels
auxquels un émetteur peut être confronté. Cela inclut, entre autres, l’exposition à des activités pouvant être considérées comme nocives pour l’environnement ou la société. Ces données, ainsi que celles obtenues par le
Gestionnaire de portefeuille dans le cadre de sa propre recherche sur l’investissement responsable, constituent une part importante de la prise en compte et de l’évaluation du niveau de risque en matière de durabilité auquel un investissement peut être soumis.
Cette évaluation est intégrée au processus de recherche au niveau des titres, qui repose sur l’analyse fondamentale des opportunités d’investissement individuelles à travers un certain nombre de facteurs
différents, notamment :
- les caractéristiques financières ou économiques fondamentales ;
- l’évaluation ;
- le profil risque/rendement ; et
- les caractéristiques ESG de l’émetteur, y compris la compréhension de la manière dont cesconsidérations peuvent avoir un impact sur les rendements économiques.

Le Gestionnaire de portefeuille tiendra compte des informations recueillies à partir de l’analyse fondamentale dans sa décision d’acquérir une participation dans une société émettrice ou de conserver
une position donnée.
Comme expliqué ci-dessus, l’évaluation et la gestion des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours
possible qu’un Événement ESG ait une incidence négative importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du régime des principales incidences négatives prévu à
l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire
soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs
de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins
d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur obligations d’État Contrats à terme standardisés sur le marché monétaire Contrats à terme standardisés sur devises |
| --- | --- |

| Options | Options sur contrats à terme standardisés d’obligation d’État Options sur contrats à terme standardisés de devises Options sur devises (y compris options de change) Bons de souscription |
| --- | --- |
| Swaps | Swaps de défaut de crédit (sur valeur individuelle, indice et panier personnalisé) |
| Contrats à terme (livra- bles et non livrables) | Contrats de change à terme |
| Titres avec IFD intégrés/effet de levier | Obligations convertibles Titres convertibles conditionnels (CoCo) Titres adossés à des actifs (ABS) et Titres adossés à des créances hypothécaires (MBS) |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne peut pas accéder
directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | Indice Markit iTraxx CDS Index |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Toutefois,
sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages, les coûts associés ou la
pondération des actions de l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

##### Positions longues et courtes
Le Compartiment peut construire des expositions synthétiques longues et synthétiques courtes dans
chacune des classes d’actifs référencées dans la Politique d’investissement pour atteindre son objectif d’investissement. L’exposition longue nette totale (après prise en compte de la couverture) par le biais d’IFD ne
devrait pas dépasser 100 % de la Valeur liquidative du Compartiment et l’exposition nette courte totale ne devrait pas dépasser non plus 100 % de la Valeur liquidative du Compartiment (en utilisant l’approche par les engagements).
Exposition globale et effet de levier 
Méthodologie de calcul de l’exposition globale : VaR absolue
Limite de VaR absolue : le portefeuille du Compartiment ne dépassera pas 20 % de la Valeur liquidative (sur la
base d’une période de détention de 20 Jours ouvrables).
L’effet de levier brut devrait varier entre : 0 % et 1 000 % de la Valeur liquidative du Compartiment. L’effet de levier brut peut toutefois dépasser ce niveau cible à certains
moments.
Pour plus d’informations sur l’approche de la VaR absolue et l’Effet de levier brut, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés,
options, swaps, contrats sur différence, titres avec IFD intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la
contrepartie sont fournis aux rubriques du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra
automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 £, 1 €, 1 CHF, 1 CAD, 1 AUD, 1 SGD,
10 HKD, 100 ¥, 10 CNH, 10 DKK, 10 NOK ou 10 SEK, selon
la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés trimestriellement, les
31 décembre, 31 mars, 30 juin et 30 septembre. En ce qui concerne les détenteurs d’Actions de distribution, les dividendes déclarés seront normalement versés au plus
tard le 11 février, le 11 mai, le 11 août et le 11 novembre,
respectivement. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Absolute Return Equity Fund

### SUPPLÉMENT 19, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut investir principalement dans des IFD et utilisera ces IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Le Compartiment peut substantiellement investir dans des dépôts auprès d’établissements de crédit. Même si le Compartiment peut investir dans des instruments du marché monétaire et des dépôts en numéraire, les Actions dans le Compartiment ne sauraient constituer des dépôts et diffèrent des dépôts par nature en ceci que l’investissement n’est pas garanti et que sa valeur est susceptible de fluctuer. Les investissements dans le Compartiment impliquent certains risques d’investissement, dont la perte éventuelle du capital.


#### Gestionnaire de portefeuille
Insight Investment Management (Global) Limited

#### Devise de référence
Livre sterling

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « R » et Actions « R (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion annuelle de gestion | Commis- sion de rachat | Commission de per- formance | Indice de référence pour compa- raison de la performance | Taux de rendement minimal |
| Sterling R (Cap.) | GBP | 5 000 | 5 % | 1,50 % | 0 % | 15 % | SONIA (composé à 30 jours) | SONIA (composé à 30 jours) + 0,04 % |
| USD R (couverte) | USD | 5 000 | 5 % | 1,50 % | 0 % | 15 % | SOFR (composé à 30 jours) | SOFR (composé à 30 jours) + 0,12 % |
| Euro R (couverte) | EUR | 5 000 | 5 % | 1,50 % | 0 % | 15 % | EURIBOR à 1 mois | EURIBOR à 1 mois |
| Euro R (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,50 % | 0 % | 15 % | EURIBOR à 1 mois | EURIBOR à 1 mois |
| CHF R (Dist.) (couverte) | CHF | 5 000 | 5 % | 1,50 % | 0 % | 15 % | SARON (composé à 30 jours) | SARON (composé à 30 jours) |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion annuelle de gestion | Commis- sion de rachat | Commission de per- formance | Indice de référence pour compa- raison de la performance | Taux de rendement minimal |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| CHF R (couverte) | CHF | 5 000 | 5 % | 1,50 % | 0 % | 15 % | SARON (composé à 30 jours) | SARON (composé à 30 jours) |

| Actions « D » et Actions « D (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion annuelle de gestion | Commis- sion de rachat | Commission de per- formance | Indice de référence pour compa- raison de la performance | Taux de rendement minimal |
| Sterling D (Cap.) | GBP | 5 000 | 5 % | 1,00 % | 0 % | 15 % | SONIA (composé à 30 jours) | SONIA (composé à 30 jours) + 0,04 % |
| Sterling D (Dist.) | GBP | 5 000 | 5 % | 1,00 % | 0 % | 15 % | SONIA (composé à 30 jours) | SONIA (composé à 30 jours) + 0,04 % |
| USD D (Cap.) (couvertes) | USD | 5 000 | 5 % | 1,00 % | 0 % | 15 % | SOFR (composé à 30 jours) | SOFR (composé à 30 jours) + 0,12 % |
| USD D (Dist.) (couverte) | USD | 5 000 | 5 % | 1,00 % | 0 % | 15 % | SOFR (composé à 30 jours) | SOFR (composé à 30 jours) + 0,12 % |
| Euro D (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % | 15 % | EURIBOR à 1 mois | EURIBOR à 1 mois |
| Euro D (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % | 15 % | EURIBOR à 1 mois | EURIBOR à 1 mois |
| CHF D (Cap.) (couvertes) | CHF | 5 000 | 5 % | 1,00 % | 0 % | 15 % | SARON (composé à 30 jours) | SARON (composé à 30 jours) |
| CHF D (Dist.) (couverte) | CHF | 5 000 | 5 % | 1,00 % | 0 % | 15 % | SARON (composé à 30 jours) | SARON (composé à 30 jours) |

| Actions « S » et Actions « T (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion annuelle de gestion | Commis- sion de rachat | Commission de per- formance | Indice de référence pour compa- raison de la performance | Taux de rendement minimal |
| Sterling S (Cap.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % | 15 % | SONIA (composé à 30 jours) | SONIA (composé à 30 jours) + 0,04 % |
| USD T (couverte) | USD | 5 000 000 | 5 % | 1,00 % | 0 % | 15 % | SOFR (composé à 30 jours) | SOFR (composé à 30 jours) + 0,12 % |
| Euro T (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % | 15 % | EURIBOR à 1 mois | EURIBOR à 1 mois |
| Euro T (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % | 15 % | EURIBOR à 1 mois | EURIBOR à 1 mois |
| CHF T (Dist.) (couverte) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % | 15 % | SARON (composé à 30 jours) | SARON (composé à 30 jours) |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion annuelle de gestion | Commis- sion de rachat | Commission de per- formance | Indice de référence pour compa- raison de la performance | Taux de rendement minimal |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| CHF T (Cap.) (couverte) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % | 15 % | SARON (composé à 30 jours) | SARON (composé à 30 jours) |

| Actions « U » et Actions « U (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion annuelle de gestion | Commis- sion de rachat | Commission de per- formance | Indice de référence pour compa- raison de la performance | Taux de rendement minimal |
| Sterling U (Cap.) | GBP | 15 000 000 | 5 % | 0,85 % | 0 % | 15 % | SONIA (composé à 30 jours) | SONIA (composé à 30 jours) + 0,04 % |
| Sterling U (Dist.) | GBP | 15 000 000 | 5 % | 0,85 % | 0 % | 15 % | SONIA (composé à 30 jours) | SONIA (composé à 30 jours) + 0,04 % |
| USD U (couvertes) | USD | 15 000 000 | 5 % | 0,85 % | 0 % | 15 % | SOFR (composé à 30 jours) | SOFR (composé à 30 jours) + 0,12 % |
| USD U (Dist.) (couverte) | USD | 15 000 000 | 5 % | 0,85 % | 0 % | 15 % | SOFR (composé à 30 jours) | SOFR (composé à 30 jours) + 0,12 % |
| Euro U (couverte) | EUR | 15 000 000 | 5 % | 0,85 % | 0 % | 15 % | EURIBOR à 1 mois | EURIBOR à 1 mois |
| Euro U (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,85 % | 0 % | 15 % | EURIBOR à 1 mois | EURIBOR à 1 mois |
| CHF U (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,85 % | 0 % | 15 % | SARON (composé à 30 jours) | SARON (composé à 30 jours) |
| CHF U (Dist.) (couverte) | CHF | 15 000 000 | 5 % | 0,85 % | 0 % | 15 % | SARON (composé à 30 jours) | SARON (composé à 30 jours) |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion annuelle de gestion | Commis- sion de rachat | Commission de per- formance | Indice de référence pour compa- raison de la performance | Taux de rendement minimal |
| Sterling X (Cap.) | GBP | Aucun(e) | 0 % | 0 % | 0 % | Aucun(e) | SONIA (composé à 30 jours) | Aucun(e) |
| USD X (Cap.) (couverte) | USD | Aucun(e) | 0 % | 0 % | 0 % | Aucun(e) | SOFR (composé à 30 jours) | Aucun(e) |
| Euro X (Cap.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % | Aucun(e) | EURIBOR à 1 mois | Aucun(e) |
| CHF X (Dist.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % | Aucun(e) | SARON (composé à 30 jours) | Aucun(e) |
| CHF X (Cap.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % | Aucun(e) | SARON (composé à 30 jours) | Aucun(e) |


#### Commission de performance
Outre la commission annuelle de gestion, le Gestionnaire sera en droit de percevoir une commission de performance annuelle (la « Commission de
performance ») sous réserve des conditions énoncées ci- dessous. Le taux auquel la Commission de performance sera appliquée est indiqué dans le tableau ci-dessus. La Commission de performance réduit la valeur de votre investissement et le revenu que vous percevez à ce titre.
La Commission de performance relative à chaque Catégorie d’actions concernée sera égale au pourcentage de la commission de performance (comme indiqué dans
le tableau ci-dessus) du Rendement de la catégorie d’actions (comme défini ci-dessous) au-delà du Taux de rendement minimal (comme défini ci-dessous), sous réserve d’une « High Water Mark » (comme défini ci- dessous).
La Commission de performance sera calculée sur une période de douze mois clôturée le 31 décembre (la
« Période de calcul »). La première Période de calcul s’entend de la période débutant le Jour ouvrable qui suit immédiatement la fin de la Période d’offre initiale et se terminant au 31 décembre de la même année.
Le « Rendement de la catégorie d’actions » est calculé chaque Jour d’évaluation et correspond à la différence exprimée en pourcentage entre la Valeur liquidative ajustée ce Jour d’évaluation et la Valeur liquidative ajustée le Jour d’évaluation précédent.
La « Valeur liquidative ajustée » est la Valeur liquidative de la catégorie d’actions concernée (qui comprend un cumul pour l’ensemble des commissions et frais, y compris la commission annuelle de gestion et les frais
d’exploitation et administratifs à la charge de la catégorie d’actions concernée, après ajustement selon les éventuelles distributions de dividendes), mais sans
déduction pour toute Commission de performance courue depuis le début de la Période de calcul.
Le « Taux de rendement minimal » est le taux défini dans
le tableau ci-dessus. Un taux de rendement minimal désigne donc le taux de rendement minimal qu’un fonds doit dépasser pour percevoir une commission de
performance.
Le « Taux de rendement minimal » est calculé chaque Jour d’évaluation et défini comme la plus élevée des deux valeurs suivantes : (i) le Taux de rendement minimal
(exprimé en pourcentage) ; ou (ii) zéro pour cent (0 %). Le
« Taux de rendement minimal » est indiqué dans le tableau ci-dessus et calculé sur une période de 365 jours
pour le SONIA (composé à 30 jours) et une période de 360 jours pour l’EURIBOR à 1 mois, le SOFR (composé à 30 jours), le SARON (composé à 30 jours) et le TONAR
(composé à 30 jours).
La « High Water Mark » est définie comme la plus élevée des deux valeurs suivantes : (i) la plus haute Valeur liquidative ajustée par Action pour laquelle une Commission de performance a été payée le dernier jour
de toute Période de calcul antérieure ; ou (ii) le prix d’émission initial par Action de chaque catégorie.
Chaque Jour d’évaluation, une Valeur liquidative ajustée est calculée pour chaque catégorie d’actions à laquelle s’applique la Commission de performance. Si la Valeur liquidative ajustée de la catégorie d’actions concernée
excède la « High Water Mark » et le Rendement de la catégorie d’actions excède le Taux de rendement minimal, une Commission de performance est due.
L’utilisation d’une « High Water Mark » garantit à l’investisseur qu’aucune Commission de performance ne sera due tant que toute sous-performance antérieure de la catégorie d’actions n’aura pas été récupérée. En
conséquence, aucune Commission de performance ne
sera due à moins que la Valeur liquidative ajustée par Action à la fin de la Période de calcul (ou à la date du
rachat, dans le cas d’une fusion, sous réserve des exigences de la Banque centrale), la date d’expiration de la Convention de gestion de portefeuille ou toute autre date de liquidation ou de cessation d’activité éventuelle
de la Société ou du Compartiment) soit supérieure à la
« High Water Mark ». *Les Investisseurs doivent noter que
la sous-performance relative du Rendement de la catégorie d’actions par rapport au Taux de rendement minimal sur les Périodes de calcul antérieures ne sera
pas récupérée.
S’il est inférieur à zéro pour cent (0 %), le Taux de rendement minimal appliqué au moment de calculer une Commission de performance sera de zéro pour cent
(0 %). Cela signifie qu’aucune Commission de
performance ne vous sera prélevée, sauf si le Rendement de la catégorie d’actions est supérieur à zéro pour cent (0 %) et que les Commissions de performance courues
sont limitées à la surperformance atteinte au-dessus de zéro pour cent (0 %). En d’autres termes, aucune commission de performance ne sera prélevée en périodes
de performances négatives.
Si le Rendement de la catégorie d’actions n’excède pas le Taux de rendement minimal, la Commission de
performance courue est réduite (mais ne peut pas être inférieure à zéro). La Commission de performance est
réduite d’un montant égal au pourcentage de la
commission de performance (comme défini dans le
tableau ci-dessus) de la sous-performance du Rendement de la catégorie d’actions par rapport au Taux de rendement minimal (le rendement négatif) multiplié
par les Actions émises. Si la Commission de performance cumulée est réduite à zéro, aucune nouvelle Commission
de performance ne sera due tant que (i) le Rendement de la catégorie d’actions cumulé n’excèdera pas le Taux de rendement minimal cumulé depuis le début de la Période
de calcul et (ii) tant que la Valeur liquidative ajustée de la catégorie d’actions concernée n’excèdera pas la « High Water Mark ».
L’intégration de la Commission de performance dans la Valeur liquidative par Action chaque Jour d’évaluation dépend de l’acceptabilité des souscriptions, rachats, échanges ou transferts.
Sont incluses dans le calcul de la Commission de performance les plus et moins-values réalisées et latentes à la fin de la période concernée. Ainsi les Commissions de performance peuvent être payées sur des plus-values latentes qui peuvent ne jamais être réalisées.
Une performance positive peut être générée par des mouvements de marché ainsi qu’une gestion active de portefeuille ; ceci peut mener à des situations où une
partie de la Commission de performance est payée sur la base des variations de marché.
Le calcul de la Commission de performance ne peut aucunement être manipulé et doit être vérifié par le Dépositaire.
La Commission de performance est calculée et cumulée chaque Jour d’évaluation et entièrement versée à terme échu, eu égard à chaque Période de calcul. Toute
Commission de performance due sera généralement payée dans les 30 Jours ouvrables suivant la fin de chaque Période de calcul, la date de rachat, la date de
fusion (sous réserve des exigences de la Banque centrale), la date d’expiration de la Convention de gestion de portefeuille ou toute autre date de liquidation ou de cessation d’activité éventuelle de la Société ou du Compartiment.

##### Exemples pour comprendre le calcul de la commission de performance
Veuillez noter que le système de commission de performance ne permet pas de prélever de commissions de performance en cas de performance négative.
| Jour d’éva- luation | Valeur liqui- dative ajus- tée à la fin de la Période de calcul | High Water Mark | Taux de rendement minimal ex- primé en pence | Rendement excédentaire exprimé en pence* | Commission de per- formance** | Valeur liqui- dative à la fin de la Période de calcul | Exemple |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 31 décembre (premier exercice) | 105 p | 100 p | 102 p | 3 p | 0,45 p | 104,55 p | La performance s’est révélée positive sur la Période de calcul étant donné que la Valeur liquidative ajustée de 105 pence à la fin du premier exercice dépassait celle du prix d’émission initial de 100 pence En outre, la Valeur liquidative ajustée excède la « High Water Mark » établie à 100 pence ET le Rendement excédentaire de 3 pence est positif. Par conséquent, une commission de performance de 0,45 p a été payée. |
| 31 décembre (deuxième exercice) | 95 p | 105 p | 106 p | 0 p | 0 p | 95 p | La performance s’est révélée négative sur la Période de calcul étant donné que la Valeur liquidative ajustée établie à 95 pence à la fin du deuxième exercice était inférieure à celle 104,55 pence relevée à la fin du premier exercice Par conséquent, aucune commission de performance n’a été payée. |
| 31 décembre (troisième exercice) | 104 p | 105 p | 97 p | 0 p | 0 p | 104 p | La performance s’est avérée positive sur la Période de calcul étant donné que la Valeur liquidative ajustée de 104 pence à la fin du troisième exercice dépassait la Valeur liquidative de 95 pence relevée à la fin du deuxième exercice Toutefois, la Valeur liquidative ajustée de 104 pence était inférieure à la « High Water Mark » établie à 105 pence, impliquant l’absence de Rendement excédentaire. Par conséquent, aucune commission de performance n’a été payée. |

| Jour d’éva- luation | Valeur liqui- dative ajus- tée à la fin de la Période de calcul | High Water Mark | Taux de rendement minimal ex- primé en pence | Rendement excédentaire exprimé en pence* | Commission de per- formance** | Valeur liqui- dative à la fin de la Période de calcul | Exemple |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 31 décembre (quatrième exercice) | 110 p | 105 p | 108 p | 2 p | 0,30 p | 109,7 p | La performance s’est avérée positive sur la Période de calcul étant donné que la Valeur liquidative ajustée de 110 pence à la fin du quatrième exercice dépassait la Valeur liquidative de 104 pence relevée à la fin du troisième exercice En outre, la Valeur liquidative ajustée excède la « High Water Mark » établie à 105 pence ET le Rendement excédentaire de 2 pence est positif. Par conséquent, une commission de performance de 0,30 p a été payée. |

*Le Rendement excédentaire correspond à la surperformance du Rendement de la catégorie d’actions par rapport au Taux de rendement minimal lorsque la Valeur liquidative excède la « High Water Mark ».
** 15 % de Rendement excédentaire

#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise un rendement absolu positif en toutes conditions de marché.

##### Politique d’investissement
Le Compartiment s’efforce d’atteindre son objectif sur une période de douze mois consécutifs par le biais d’une gestion d’investissement discrétionnaire et peut employer
différentes techniques de couverture. Cependant, le
rendement positif ne peut être garanti et une perte de capital peut se produire.
La politique globale comprend deux éléments distincts. Premièrement, le Compartiment cherche à produire une croissance du capital à long terme en investissant dans
une gamme d’actions et titres apparentés (comprenant
des bons de souscription, des actions privilégiées et des
actions privilégiées convertibles) de sociétés situées essentiellement en Europe (y compris au Royaume-Uni et dans des pays européens qui peuvent être considérés comme des marchés émergents) cotés ou négociés sur
tout Marché éligible répertorié à l’Annexe II et d’IFD autorisés par la Réglementation OPCVM. L’utilisation d’IFD constitue une partie importante de la stratégie d’investissement, comme indiqué ci-dessous. Comme
exposé plus en détail ci-dessous, le Compartiment peut
être considéré comme un fonds « long/short ». Le Gestionnaire de portefeuille utilisera essentiellement une
analyse de titres fondamentale ascendante pour son choix d’actions et titres apparentés.
Deuxièmement, le Compartiment investira dans une gamme étendue de titres liquides ou quasi liquides, ou de titres de créance ou titres apparentés comprenant, de façon non limitative, des dépôts en banque, des instruments et des obligations émis ou garantis par tout gouvernement souverain ou ses agences, et des titres, instruments et obligations émis par des organismes
supranationaux ou publics internationaux, des banques, des sociétés ou d’autres émetteurs commerciaux « Titres liquides ou quasi liquides, titres de créance ou titres
apparentés ». Il est prévu que les émetteurs et/ou garants de tous titres, instruments ou obligations
mentionnés à la phrase qui précède bénéficieront d’une notation de crédit, au moment de l’achat, au moins égale à A1/P1 (ou son équivalent) publiée par une Agence de
notation reconnue, ou seront jugés de qualité équivalente par le Gestionnaire de portefeuille. Les titres de créances et apparentés (comme mentionné ci-dessus) comprendront les titres, instruments, obligations, bons du trésor, débentures, obligations garanties, titres adossés à des actifs ou à des créances hypothécaires sans effet de levier, certificats de dépôt, billets à taux variable, billets de trésorerie et obligations à court et moyen terme, à taux fixe ou variable, émis ou garantis par tout gouvernement souverain ou ses agences, des collectivités locales, des organismes supranationaux ou internationaux publics, des banques, des sociétés ou tous autres émetteurs commerciaux et pouvant avoir une
échéance supérieure à 1 an. Cette classe d’actifs sera détenue en tant que classe d’actifs produisant un rendement absolu en soi ainsi qu’à des fins de liquidité et de couverture des expositions générées à travers des
IFD.
Le Compartiment s’efforce d’atteindre son objectif en associant des positions longues/courtes. Les positions longues peuvent être détenues par une association
d’investissements directs et/ou d’instruments dérivés, essentiellement des swaps sur rendement d’actions, des contrats sur différence, des contrats à terme
standardisés, des options et des contrats à terme. Les
positions courtes seront prises essentiellement par le biais d’IFD, principalement des swaps sur rendement d’actions, des contrats sur différence, des contrats à terme standardisés, des options et des contrats à terme,
tel que détaillé ci-dessous. Outre son portefeuille de titres liquides ou quasi liquides, ou de titres de créance et apparentés (tels que décrits ci-dessus), le
Compartiment cherchera généralement à atteindre son
objectif par le biais une gestion active des risques liés au marché et habituellement associés à l’investissement en actions (« bêta ») et en isolant les rendements spécifiques à l’action (« alpha »). Il le fera normalement au moyen de la technique dite de « pair trading ».
Chaque position « pair trade » sur une action ou un titre apparenté du Compartiment comprend deux parties.
L’idée directrice reflète le point de vue du Gestionnaire de portefeuille sur une action particulière et l’unité de couverture centre le risque de la paire de positions sur
les facteurs de rendement spécifiques ciblés par les gestionnaires. Lorsque les gestionnaires ciblent uniquement des facteurs de rendement spécifiques, ils peuvent choisir de couvrir des risques de secteur, de
direction de marché ou d’autres risques. Lorsque les
gestionnaires ciblent des facteurs de rendement directionnels de marché, l’idée directrice peut être partiellement couverte ou non couverte.
L’unité directrice ou l’unité de couverture sera une position courte synthétique. Une position courte synthétique est créée lorsque le Compartiment vend un
actif qu’il ne possède pas, avec l’intention de le racheter à l’avenir. Si le cours de l’actif vendu à découvert baisse, la valeur de la position augmente et vice versa. L’autre partie de chaque paire sera une position longue, créée par l’achat d’un actif. Par conséquent, le Compartiment entre dans la catégorie des fonds « long/short ». Le
Gestionnaire de portefeuille peut à sa discrétion déterminer s’il doit prendre des positions longues ou courtes. Les pourcentages respectifs de ces positions
varieront au cours de la vie du Compartiment en fonction des ajustements qu’il effectuera compte tenu de l’objectif de ce dernier.
Bien que la Réglementation OPCVM interdise la vente à découvert de titres physiques, il autorise la création de
positions courtes synthétiques (synthétique, dans ce contexte, signifie essentiellement que l’on obtient le même résultat économique sans vente à découvert
effective) par l’utilisation d’instruments dérivés, tels que des swaps sur rendement d’actions, des contrats à terme standardisés ou des contrats sur différence. (Voir également la section « Utilisation d’IFD » ci-dessous).
Le Compartiment aura donc fréquemment recours aux IFD pour prendre des positions longues synthétiques et des positions courtes synthétiques (y compris, de façon non limitative, aux contrats sur différence, aux indices
boursiers, aux sous-indices boursiers et aux swaps sur rendement d’actions unique) en rapport avec les indices de marché boursier, les secteurs, les actions et les paniers d’actions dans chaque cas selon les conditions et limites fixées dans la Réglementation OPCVM de la
Banque centrale.
Le Compartiment investira dans des actions et titres
apparentés uniquement lorsque seront identifiées des opportunités qui, de l’avis du Gestionnaire de portefeuille, lui offriront un potentiel de rendements
corrigés du risque significatifs. Autrement, le Compartiment restera investi en titres liquides ou quasi liquides ou en titres de créance et apparentés.
Le Gestionnaire de portefeuille peut exprimer son opinion sur la volatilité future du marché relativement aux indices
de marché d’actions, aux secteurs, aux actions et aux paniers d’actions, toujours selon les conditions et limites fixées dans la Réglementation OPCVM de la Banque centrale. L’investissement dans la volatilité sera
généralement mis en œuvre par le biais d’IFD tels que des options et des options sur contrats à terme standardisés.
Si le Gestionnaire de portefeuille estime que la volatilité future sera supérieure aux prévisions d’autres investisseurs, il augmentera l’exposition à la volatilité en achetant des options. Le Compartiment peut ainsi
bénéficier de toute augmentation future de la volatilité de l’actif ou du marché concerné. Si, en revanche, le Gestionnaire de portefeuille estime que la volatilité future
sera inférieure aux prévisions d’autres investisseurs, il réduira l’exposition à la volatilité en vendant des options. Le Compartiment peut ainsi bénéficier de toute baisse future de la volatilité de l’actif ou du marché.
Le Compartiment peut également investir jusqu’à 10 % de sa Valeur liquidative dans des organismes de placement collectif (« OPC »), y compris d’autres OPC gérés par le Gestionnaire de portefeuille ou ses associés. Par exemple, l’investissement dans des OPC peut être utilisé à des fins de gestion de liquidité ou pour donner une
exposition aux actions et titres apparentés exposés à la politique d’investissement ci-dessus.
Les différents types d’investissement décrits dans ces politiques d’investissement peuvent comprendre des produits que le Gestionnaire de portefeuille estime être des produits structurés parce qu’ils permettront au Compartiment d’obtenir une exposition de marché indirecte aux actions, indices de marché d’actions,
secteurs et/ou paniers d’actions, mais il n’est pas prévu que l’investissement dans ce type d’instruments soit
significatif. Ces produits structurés revêtent typiquement la forme de valeurs mobilières et/ou d’instruments du marché monétaire (c’est-à-dire d’instruments normalement échangés sur les marchés monétaires, qui
sont liquides et dont la valeur peut être déterminée avec exactitude à tout moment) avec dérivé intégré. Les valeurs mobilières ont le sens qui leur est donné dans la Réglementation OPCVM de la Banque centrale. Par exemple, un produit structuré peut être une obligation sans coupon à capital protégé contenant un instrument dérivé et générant un rendement lié à un indice boursier.
Dans la mesure où ces investissements exposent le Compartiment à la performance d’un indice quelconque, cet indice doit être suffisamment diversifié, représenter
une référence appropriée pour les marchés concernés, être publié de façon adéquate et être préalablement autorisé par la Banque centrale. Ces produits structurés
seront essentiellement limités aux actifs cotés ou négociés sur l’un des Marchés éligibles répertoriés à l’Annexe II, ou, en l’absence de cotation, seront limités à 10 % de la Valeur liquidative du Compartiment et seront
conformes aux exigences de la Banque centrale.
À l’exception des investissements autorisés en valeurs non cotées ou en OPC à capital variable, les
investissements seront limités aux Marchés éligibles répertoriés à l’Annexe II du Prospectus.
Le Compartiment peut également conclure des accords de prêts de titres à des fins d’investissement sous réserve des conditions et limites exposées dans la
Réglementation OPCVM de la Banque centrale.

##### Indice de référence
SONIA composé à 30 jours (l’« Indice de référence monétaire »).
Le SONIA (Sterling Over Night Index Average) est le taux d’intérêt qui s’applique aux fonds de marché de gros à court terme libellés en livres sterling dans des
circonstances où les risques de crédit, liquidité et autres sont minimums. Le SONIA est mesuré chaque jour
ouvrable à Londres et représente la moyenne réduite, arrondie à 4 décimales, des taux d’intérêt payés sur les dépôts éligibles libellés en livres sterling. Le SONIA est
pratiquement sans risque, ce qui signifie qu’il ne comporte pas de risque de crédit sur l’établissement bancaire. Le taux peut augmenter ou baisser à la suite de
décisions de la banque centrale en matière de politique monétaire ou de variations des conditions économiques.
Le Compartiment utilise l’Indice de référence monétaire comme élément de comparaison de sa performance sur une base mobile de 12 mois consécutifs, après déduction
des frais.
Le Compartiment est géré activement, ce qui signifie que le Gestionnaire de portefeuille a tout pouvoir pour
sélectionner les investissements sur la base de l’objectif et de la politique d’investissement.

##### Stratégie d’investissement
La stratégie d’investissement du Compartiment vise à offrir une exposition longue/courte aux actions avec une exposition nette active via l’encours de l’opération de couverture.
La construction du Portefeuille repose sur :
- la responsabilité individuelle du gestionnaire de portefeuille
	- la prise de position à mesure que se présentent les différentes idées et opportunités d’investissement

- l’encours de la position et l’exposition brute globale qui varient en fonction
	- des risques spécifiques
	- Liquidité
	- de l’environnement de marché (volatilité, corrélation)

- L’encours de la couverture au niveau « pair trade » dépend de :
	- la valorisation spécifique et des caractéristiques fondamentales de l’idée d’investissement principale
	- l’évaluation de l’environnement de marché dans son ensemble

- La composition de l’opération de couverture varie en fonction de :
	- l’évolution des risques liés à l’idée d’investissement principale
	- l’évaluation de l’environnement de marché dans son ensemble



##### Règlement sur la publication d’informations en matière de finance durable
Lorsque le Gestionnaire de portefeuille évalue le risque
en matière de durabilité associé aux investissements sous-jacents du Compartiment, il évalue le risque qu’un
événement ou une condition ESG (« Événement ESG ») ait une incidence négative importante sur la valeur de ces investissements sous-jacents. Les risques en matière de
durabilité sont inclus dans le programme d’investissement responsable du Gestionnaire de portefeuille et sont gérés en veillant à ce que les décideurs de haut rang soient informés et à l’aide des procédures efficaces de responsabilisation, de transparence et d’application. Lorsque les questions de risque en matière de durabilité sont considérées comme
importantes pour les résultats d’investissement, elles sont intégrées aux processus d’étude préalable. Cette mesure peut inclure l’évaluation de titres individuels et/ ou l’interaction avec des émetteurs ou des acteurs du
marché. Les contrôles internes garantissent une
application permanente des critères de durabilité au Compartiment. Les restrictions ESG, qui comprennent des notations ESG attribuées en interne et des données
externes fournies par des tiers, sont destinées à empêcher ou permettre l’investissement dans des titres qui répondent à des caractéristiques de durabilité. Ces
contrôles sont codés par rapport au Compartiment et mis à jour à mesure que de nouvelles informations sont reçues et intégrées.
La gouvernance d’entreprise est un facteur de risque clé en matière de durabilité et fait partie du processus de notation des risques ESG interne appliqué à tous les
émetteurs. L’évaluation de la gouvernance d’entreprise
effectuée par le Gestionnaire de portefeuille comprend l’évaluation des pratiques, du comportement, de la rémunération, du contrôle, de la responsabilité et de l’éthique du conseil d’administration ou des controverses le concernant. Le Gestionnaire de portefeuille utilise les
résultats des évaluations ESG, en plus de ses propres connaissances des structures de gouvernance des
émetteurs, pour fixer des priorités d’engagement avec
ces derniers. Le Gestionnaire de portefeuille examine ces
risques dans leur ensemble afin de décider si un investissement compense raisonnablement un fonds pour les risques en matière de durabilité encourus à long et court terme.
En termes de facteurs sociaux et environnementaux, la méthode de notation ESG interne du Gestionnaire de portefeuille fournit des informations spécifiques au
secteur et à l’émetteur sur des questions clés. Ce modèle
aide le Gestionnaire de portefeuille à identifier les
risques clés auxquels un secteur ou un émetteur spécifique peut être confronté.
Le Compartiment peut générer des performances inférieures ou se comporter de manière différente par
rapport à d’autres fonds comparables qui n’intègrent pas
les risques en matière de durabilité dans leurs décisions d’investissement. Par ailleurs, il est toujours possible que sa valeur soit négativement affectée par un Événement
ESG.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure
actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le
Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en
Bourse ou de gré à gré suivants, à des fins d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur actions Contrats à terme standardisés sur indices boursiers |
| --- | --- |
| Options | Bons de souscription Options sur actions (valeur individuelle, indice, secteur, panier personnalisé) Options sur contrats à terme standardisés Swaptions |
| Swaps | Swaps de rendement d’actions (valeur individuelle, indice, secteur et panier personnalisé) Contrats sur différence |
| Contrats à terme (livra- bles et non livrables) | Contrats de change à terme |
| Titres avec IFD intégrés/effet de levier | Obligations convertibles Actions privilégiées convertibles |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices financiers suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne
peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices d’actions utilisés pour | Dax 30 Index |
| offrir une exposition aux | Euro Stoxx 50 Index |
| marchés de titres régionaux et | FTSE 100 Index |
| mondiaux de manière plus | FTSE 250 Index |
| rentable ou plus efficace que | FTSE 350 Index |
| par l’achat de titres physiques. | FTSE 350 Supersectors Indexes |
|  | FTSE All Share Index |
|  | FTSE MIB |
|  | FTSE World Index |
|  | Hang Seng Index |
|  | IBEX 35 |
|  | KOSPI Index |
|  | MDAX Index |
|  | MSCI All Countries World Index |
|  | MSCI Emerging Markets Index |
|  | MSCI World Developed ex Europe |
|  | Nasdaq Composite Index |
|  | Nikkei 225 Index |
|  | Russell 2000 Index |
|  | S&P/ASX 200 Index |
|  | S&P/TSX Composite Index |
|  | S&P 500 Index |
|  | Stoxx Europe 600 Index |

Ces indices financiers seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages, les coûts
associés ou la pondération des actions de l’indice
financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

##### Positions longues et courtes
Le Compartiment peut construire des expositions
synthétiques longues et synthétiques courtes dans chacune des classes d’actifs référencées dans la Politique d’investissement pour atteindre son objectif d’investissement. L’exposition longue nette totale (après prise en compte de la couverture) par le biais d’IFD ne
devrait pas dépasser 200 % de la Valeur liquidative du Compartiment et l’exposition nette courte totale ne devrait pas dépasser non plus 200 % de la Valeur liquidative du Compartiment (en utilisant l’approche par les engagements).
Exposition globale et effet de levier 
Méthodologie de calcul de l’exposition globale : VaR absolue
Limite de VaR absolue : 10 % de la Valeur liquidative du Compartiment (sur la base d’une période de détention de 5 Jours ouvrables)
L’effet de levier brut devrait varier entre : 0 – 500 % de la Valeur liquidative. L’effet de levier brut peut toutefois dépasser ce niveau cible à certains moments.
Pour plus d’informations sur l’approche de la VaR absolue et l’Effet de levier brut, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut souscrire des contrats de différence et des swaps d’actions dont les effets en termes de financement sur titres sont similaires à ceux
des swaps de rendement total (à savoir des « Swaps de contrats de financement sur titres » ou « SFS, Securities Financing Swaps), comme décrit sous la section
« Utilisation d’IFD », et peut procéder à des opérations de
financement sur titres (« OFT »), à savoir des accords de
prêt de titres et des contrats de mise/prise en pension, comme stipulé sous la section « Gestion efficace de portefeuille » du Prospectus.
Les expositions maximales du Compartiment aux SFS et aux OFT correspondent respectivement à 400 % et 100 %
de sa Valeur liquidative. Il n’est toutefois pas prévu que
ces expositions respectives aux SFS et aux OFT excèdent 350 % et 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet de SFS seront les titres dont la nature est conforme à la politique d’investissement du Compartiment. Les types d’actifs qui feront l’objet d’OFT
seront les actifs dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 GBP, 1 USD, 1 EUR ou 1 CHF selon la devise
de la catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés le 31 décembre de chaque année.
Concernant les détenteurs d’Actions de distribution, les
dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons particulièrement l’attention des investisseurs sur le contenu de la section intitulée
« Facteurs de risque » du Prospectus.

## BNY Mellon Emerging Markets Corporate Debt Fund

### SUPPLÉMENT 20, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. L’utilisation d’IFD à des fins d’investissement sera limitée. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- L’investissement dans le Compartiment ne devrait pas constituer une proportion conséquente d’un portefeuille de placement et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Insight Investment Management (Global) Limited
Le Gestionnaire de portefeuille peut déléguer ses fonctions de gestion à un Gestionnaire de portefeuille délégué et/ou désigner un conseiller en investissement délégué pour assurer un service de conseil en investissement conformément aux exigences de la Banque centrale. À la date du présent Supplément, le Gestionnaire de portefeuille a désigné le Gestionnaire de portefeuille délégué indiqué ci-dessous.

#### Gestionnaire de portefeuille délégué
Le Gestionnaire de portefeuille peut déléguer certaines ou la totalité de ses fonctions de gestion
d’investissement eu égard au présent Compartiment à
Insight North America LLC (le « Gestionnaire de
portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique
« Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les
tableaux ci-après et se différencient par leur devise de référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro A | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| EUR A (Dist.) (M) | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| USD A | USD | 5 000 | 5 % | 1,50 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 1,50 % | 0 % |
| AUD A (Cap.) | AUD | 5 000 | 5 % | 1,50 % | 0 % |
| AUD A (Dist.) (M) | AUD | 5 000 | 5 % | 1,50 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| HKD A (Cap.) | HKD | 50 000 | 5 % | 1,50 % | 0 % |
| HKD A (Dist.) (M) | HKD | 50 000 | 5 % | 1,50 % | 0 % |
| CNH A (Cap.) | CNH | 50 000 | 5 % | 1,50 % | 0 % |
| CNH A (Dist.) (M) | CNH | 50 000 | 5 % | 1,50 % | 0 % |
| SGD A (Cap.) | SGD | 5 000 | 5 % | 1,50 % | 0 % |
| SGD A (Dist.) (M) | SGD | 5 000 | 5 % | 1,50 % | 0 % |
| Euro H (couverte) | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| Euro H (Dist.) (couverte) (M) | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| AUD H (Cap.) (couverte) | AUD | 5 000 | 5 % | 1,50 % | 0 % |
| AUD H (Dist.) (couverte) (M) | AUD | 5 000 | 5 % | 1,50 % | 0 % |
| CNH H (Cap.) (couverte) | CNH | 50 000 | 5 % | 1,50 % | 0 % |
| CNH H (Dist.) (couverte) (M) | CNH | 50 000 | 5 % | 1,50 % | 0 % |
| SGD H (Cap.) (couverte) | SGD | 5 000 | 5 % | 1,50 % | 0 % |
| SGD H (Dist.) (couverte) (M) | SGD | 5 000 | 5 % | 1,50 % | 0 % |
| DKK H (Cap.) (couverte) | DKK | 50 000 | 5 % | 1,50 % | 0 % |
| NOK H (Cap.) (couverte) | NOK | 50 000 | 5 % | 1,50 % | 0 % |
| SEK H (Cap.) (couverte) | SEK | 50 000 | 5 % | 1,50 % | 0 % |

| Actions « B » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD B | USD | 10 000 | 5 % | 1,25 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 0,85 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 0,85 % | 0 % |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 0,85 % | 0 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 0,85 % | 0 % |
| Euro G (Cap.) (couverte) | EUR | 5 000 | 5 % | 0,85 % | 0 % |
| Euro G (Dist.) (couverte) | EUR | 5 000 | 5 % | 0,85 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro C | EUR | 5 000 000 | 5 % | 0,85 % | 0 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 0,85 % | 0 % |
| Sterling C (Cap.) | GBP | 5 000 000 | 5 % | 0,85 % | 0 % |
| Sterling C (Dist.) | GBP | 5 000 000 | 5 % | 0,85 % | 0 % |
| CHF C (Cap.) | CHF | 5 000 000 | 5 % | 0,85 % | 0 % |
| USD C | USD | 5 000 000 | 5 % | 0,85 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 0,85 % | 0 % |
| Euro I (couverte) | EUR | 5 000 000 | 5 % | 0,85 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 0,85 % | 0 % |
| Sterling I (Cap.) (couverte) | GBP | 5 000 000 | 5 % | 0,85 % | 0 % |
| Sterling I (Dist.) (couverte) | GBP | 5 000 000 | 5 % | 0,85 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro W | EUR | 15 000 000 | 5 % | 0,65 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,65 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,65 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,65 % | 0 % |
| Euro W (Dist.) (couverte) (M) | EUR | 15 000 000 | 5 % | 0,65 % | 0 % |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,65 % | 0 % |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,65 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,65 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,65 % | 0 % |
| CHF W (Cap.) | CHF | 15 000 000 | 5 % | 0,65 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,65 % | 0 % |
| CHF W (Dist.) (couverte) | CHF | 15 000 000 | 5 % | 0,65 % | 0 % |
| USD W | USD | 15 000 000 | 5 % | 0,65 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,65 % | 0 % |
| USD W (Dist.) (M) | USD | 15 000 000 | 5 % | 0,65 % | 0 % |
| HKD W (Dist.) (M) | HKD | 150 000 000 | 5 % | 0,65 % | 0 % |
| AUD W (Dist.) (couverte) (M) | AUD | 15 000 000 | 5 % | 0,65 % | 0 % |
| CAD W (Dist.) (couverte) (M) | CAD | 15 000 000 | 5 % | 0,65 % | 0 % |
| CNH W (Dist.) (couverte) (M) | CNH | 150 000 000 | 5 % | 0,65 % | 0 % |
| SGD W (Dist.) (couverte) (M) | SGD | 15 000 000 | 5 % | 0,65 % | 0 % |
| DKK W (Cap.) (couverte) | DKK | 150 000 000 | 5 % | 0,65 % | 0 % |
| NOK W (Cap.) (couverte) | NOK | 150 000 000 | 5 % | 0,65 % | 0 % |
| SEK W (Cap.) (couverte) | SEK | 150 000 000 | 5 % | 0,65 % | 0 % |

| Actions « X » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Cap.) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| USD X | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |

| Actions « Y » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD Y (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à générer un rendement total constitué d’un revenu et d’une appréciation du capital en investissant principalement dans des instruments de
créance et titres apparentés de sociétés émis par des émetteurs des marchés émergents mondiaux et dans des instruments financiers dérivés liés auxdits instruments.

##### Politique d’investissement
Le Compartiment investira principalement (c’est-à-dire au moins les trois quarts de sa Valeur liquidative) dans un large éventail d’obligations d’entreprise, d’obligations autres et d’instruments liés à des crédits ou à des obligations, et d’investissements comprenant des titres adossés à des actifs et des obligations convertibles émis
par des sociétés qui ont un lien économique avec les
pays émergents, cotés ou négociés sur tous les Marchés éligibles (tel que défini à l’Annexe II du Prospectus). Le Compartiment peut investir directement dans des instruments de ce type ou par le biais d’une gamme
étendue d’instruments financiers dérivés (IFD), comme
autorisé par la Réglementation OPCVM et mentionné ci-
dessous. Les IFD peuvent être utilisés pour gérer les risques de taux d’intérêt, de crédit et/ou de change, ou pour prendre des positions directionnelles sur l’évolution des émetteurs privés.
Le Compartiment peut également investir dans des titres de créance à taux fixe ou variable qui peuvent être émis ou garantis par des gouvernements souverains ou leurs agences ou des organismes internationaux, supranationaux ou publics issus de pays émergents. Les titres de créance et apparentés des marchés émergents dans lesquels le Compartiment peut investir comprennent les obligations Brady, les euro-obligations souveraines, les prêts (tels que les participations à des prêts non sécurisés et/ou les cessions de prêts), les prêts souverains, les bons du Trésor locaux, les billets et obligations, les certificats de dépôt, les billets de trésorerie et les obligations structurées.
Le Compartiment peut investir jusqu’à 15 % de sa Valeur liquidative dans des titres adossés à des actifs et jusqu’à 30 % de sa Valeur liquidative dans des instruments de
créance subordonnés, dont des titres convertibles conditionnels (« CoCo »). Le Compartiment ne peut pas investir plus de 10 % de sa Valeur liquidative dans des CoCo. Veuillez consulter la section du Prospectus intitulée « Risque lié aux titres convertibles conditionnels (« CoCo ») pour plus de détails sur les risques associés aux CoCo.
Le Compartiment peut investir dans des obligations d’entreprises s’agissant de dettes subordonnées, dont des obligations non garanties, des obligations hybrides d’entreprises et des CoCos ainsi que des obligations Additional/Restricted Tier 1, 2 et 3 émises par des
sociétés financières telles que des banques et des compagnies d’assurance.
Le Compartiment peut investir jusqu’à 10 % dans d’autres organismes de placement collectif à capital variable
(« OPC »). Les investissements dans des OPC peuvent être utilisés à des fins de gestion de liquidité (par exemple via des fonds monétaires) ou pour donner une exposition aux instruments de créance et apparentés
énoncés dans la politique d’investissement. Le
Compartiment peut également détenir des instruments du marché monétaire et des actifs liquides à titre accessoire tels que des dépôts bancaires.
Les marchés émergents comprennent les pays autres que les économies avancées même s’ils peuvent inclure certaines économies avancées qui présentent des
caractéristiques financières/une situation économique de pays en développement, par exemple, un produit national
brut (PNB) faible. Le Compartiment est susceptible d’investir, de façon non limitative dans les pays suivants : Asie (par ex. Azerbaïdjan et Thaïlande), Amérique latine
(par ex. Salvador et Panama), Moyen-Orient (par ex. Iraq et Arabie saoudite), Afrique (par ex. Côte d’Ivoire et Tanzanie) et pays européens émergents ou en
développement (par ex. République tchèque et Hongrie).
Le Compartiment peut également investir jusqu’à 15 % de sa Valeur liquidative dans des titres de créance ou apparentés cotés ou négociés à la Bourse de Moscou.
De nombreux titres des marchés émergents dans lesquels le Compartiment peut investir sont, par définition, des titres à haut rendement non notés ou dont la notation de crédit est inférieure à investment grade (BB+ ou inférieure) (ou son équivalent), tel que déterminé par une Agence de notation reconnue. Les émetteurs et/ ou garants de tout investissement détenu par le Compartiment peuvent également être non notés ou de qualité inférieure à investment grade, tel que déterminé par une Agence de notation reconnue. Ces émetteurs dont la notation de crédit est inférieure à investment grade sont de moins bonne qualité que ceux notés
investment grade, et l’investissement dans des titres de
ces émetteurs présente un risque élevé.
Le Compartiment n’investira pas plus de 10 % de sa Valeur liquidative dans des titres émis et/ou garantis par un seul émetteur souverain dont la qualité est inférieure
à investment grade. Afin de lever toute ambiguïté, il est précisé qu’un « émetteur souverain » désigne un pays, son gouvernement, ses agences ou une autorité publique
ou locale.
Le Compartiment peut investir dans des instruments libellés en devises fortes ou en devises locales. Les devises fortes sont généralement émises par les pays développés et présentent un taux de change stable sur une longue période. Les devises locales sont généralement émises par les pays en développement et présentent parfois un taux de change fluctuant.

##### Indice de référence
L’indice JP Morgan Corporate Emerging Market Bond Index Broad Diversified (CEMBI - BD) TR Index (l’« indice de référence »).
L’Indice de référence est un indice pondéré en fonction de la capitalisation boursière, composé d’obligations d’entreprise de marchés émergents libellées en USD.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour investir en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement.
Bien que les avoirs du Compartiment puissent inclure des composantes de l’Indice de référence, la sélection des placements et leurs pondérations dans le portefeuille ne sont pas influencées par celles de l’Indice de référence.
La stratégie d’investissement ne restreint pas la mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.

##### Stratégie d’investissement
La stratégie d’investissement du Compartiment est basée sur :
- les obligations d’entreprise de pays émergents offrant un rendement excédentaire par rapport auxmarchés développés, qui représentent une opportunité d’investissement structurelle ;
- un marché imparfait qui n’est pas toujours adéquatement compris ni valorisé ;et
- les sources d’alpha suivantes :
	- allocation pays ;
	- analyse de crédit et juridique ;
	- gestion de la liquidité ; et
	- sélection des instruments.


Dans le cadre du modèle de couverture des pays émergents, l’analyse de crédit fondamentale, le filtrage selon des critères quantitatifs et l’examen des valorisations amènent le Gestionnaire de portefeuille à
sélectionner des émetteurs (en termes de valorisation du
rapport risque/rendement) et des instruments de créance (en termes d’échéance, d’engagement et d’encours de position).

##### Règlement sur la publication d’informations en matière de finance durable
Lorsque le Gestionnaire de portefeuille évalue le risque
en matière de durabilité associé aux investissements sous-jacents du Compartiment, il évalue le risque qu’un événement ou une condition ESG (« Événement ESG ») ait
une incidence négative importante sur la valeur de ces investissements sous-jacents. Les risques en matière de durabilité sont inclus dans le programme
d’investissement responsable du Gestionnaire de
portefeuille et sont gérés en veillant à ce que les décideurs de haut rang soient informés et à l’aide des procédures efficaces de responsabilisation, de transparence et d’application. Lorsque les questions de risque en matière de durabilité sont considérées comme importantes pour les résultats d’investissement, elles
sont intégrées aux processus d’étude préalable. Cette mesure peut inclure l’évaluation de titres individuels et/ ou l’interaction avec des émetteurs ou des acteurs du
marché. Les contrôles internes garantissent une
application permanente des critères de durabilité au Compartiment. Les restrictions ESG, qui comprennent des notations ESG attribuées en interne et des données externes fournies par des tiers, sont destinées à
empêcher ou permettre l’investissement dans des titres
qui répondent à des caractéristiques de durabilité. Ces
contrôles sont codés par rapport au Compartiment et mis à jour à mesure que de nouvelles informations sont reçues et intégrées.
La gouvernance d’entreprise est un facteur de risque clé en matière de durabilité et fait partie du processus de notation des risques ESG interne appliqué à tous les
émetteurs. L’évaluation de la gouvernance d’entreprise
effectuée par le Gestionnaire de portefeuille comprend
l’évaluation des pratiques, du comportement, de la rémunération, du contrôle, de la responsabilité et de l’éthique du conseil d’administration ou des controverses le concernant. Le Gestionnaire de portefeuille utilise les
résultats des évaluations ESG, en plus de ses propres
connaissances des structures de gouvernance des émetteurs, pour fixer des priorités d’engagement avec ces derniers. Le Gestionnaire de portefeuille examine ces
risques dans leur ensemble afin de décider si un investissement compense raisonnablement un fonds pour les risques en matière de durabilité encourus à long et court terme.
En termes de facteurs sociaux et environnementaux, la méthode de notation ESG interne du Gestionnaire de
portefeuille fournit des informations spécifiques au secteur et à l’émetteur sur des questions clés. Ce modèle aide le Gestionnaire de portefeuille à identifier les
risques clés auxquels un secteur ou un émetteur spécifique peut être confronté.
Le Compartiment peut générer des performances
inférieures ou se comporter de manière différente par rapport à d’autres fonds comparables qui n’intègrent pas les risques en matière de durabilité dans leurs décisions d’investissement. Par ailleurs, il est toujours possible que sa valeur soit négativement affectée par un Événement
ESG.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure
actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du
régime en matière de reporting. Le Gestionnaire continue d’analyser les données disponibles qui seraient nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins
d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur obligations Contrats à terme standardisés sur taux d’intérêt |
| --- | --- |
| Options | Options sur devises (y compris options de change) Options sur obligations |

| Swaps | Swaps de défaut de crédit (sur valeur individuelle, indice et panier personnalisé) Swaps d’inflation Swaps de taux d’intérêt Swaps de rendement total (sur valeur individuelle, crédit, indice, secteur et panier personnalisé) Swaps de devises |
| --- | --- |
| Contrats à terme (livra- bles et non livrables) | Contrats de change à terme |
| Titres avec IFD intégrés/effet de levier | Titres convertibles conditionnels (CoCo) Obligations convertibles Titres adossés à des actifs |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

##### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices financiers suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne
peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | Markit CDX Emerging Markets Index |
| Indices de swaps de rendement total (« TRS») utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficiente qu’avec l’achat de titres physiques. | Markit iBoxx GEMX Index |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Les
indices financiers restants seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages,
les coûts associés ou la pondération des actions de l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

##### Positions longues et courtes
Le Compartiment peut construire des expositions
synthétiques longues et synthétiques courtes dans chacune des classes d’actifs référencées dans la Politique d’investissement pour atteindre son objectif d’investissement. L’exposition longue nette totale (après prise en compte de la couverture) par le biais d’IFD ne
devrait pas dépasser 50 % de la Valeur liquidative du Compartiment et l’exposition nette courte totale ne devrait pas dépasser non plus 50 % de la Valeur liquidative du Compartiment (en utilisant l’approche par les engagements).

#### Enregistrement à Hong Kong
Ce Compartiment est enregistré à la vente à Hong Kong.

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 50 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés,
options, swaps, contrats sur différence, titres avec IFD intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des OFT, c’est à
dire des accords de prêt de titres et des accords de
mise/prise en pension, comme décrit sous la rubrique
« Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et aux OFT correspondent respectivement à 30 % et 100 %
de sa Valeur liquidative. Il n’est toutefois pas prévu que
ces expositions respectives aux TRS et aux OFT excèdent 20 % et 30 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet de TRS et OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la
contrepartie sont fournis aux rubriques du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories d’actions non lancées seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 100 $, 100 £, 100 €, 100 CHF, 100 AUD, 100 CAD,
1 000 HKD, 1 000 CNH, 100 SGD, 1 000 DKK, 1 000 NOK ou
1 000 SEK, selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le Prix de souscription est égal à la Valeur liquidative par Action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes de souscription d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) portant le suffixe « (M) », les dividendes seront normalement déclarés chaque mois, le dernier Jour
ouvrable du mois. Concernant les détenteurs d’Actions de
distribution mensuelle, les dividendes déclarés leur
seront normalement versés au plus tard le 20 du mois
suivant. Dans le cas de toutes les autres catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés
trimestriellement, les 31 décembre, 31 mars, 30 juin et 30 septembre. Concernant les détenteurs de ces Actions de distribution, les dividendes déclarés leur seront normalement versés au plus tard le 11 février, le 11 mai, le 11 août et le 11 novembre, respectivement. De plus amples informations sont disponibles à la section « La
Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Absolute Return Bond Fund

### SUPPLÉMENT 21, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut investir principalement dans des IFD et utilisera ces IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.
- Le Compartiment peut investir, à tout moment, de manière substantielle dans des instruments du marché monétaire ou des dépôts auprès d’établissements de crédit. Même si le Compartiment peut investir dans des instruments du marché monétaire et des dépôts en numéraire, les Actions dans le Compartiment ne sauraient constituer des dépôts et diffèrent des dépôts par nature en ceci que l’investissement n’est pas garanti et que sa valeur est susceptible de fluctuer. Les investissements dans le Compartiment impliquent certains risques d’investissement, dont la perte éventuelle du capital.


#### Gestionnaire de portefeuille
Insight Investment Management (Global) Limited
Le Gestionnaire de portefeuille peut déléguer ses fonctions de gestion à un Gestionnaire de portefeuille délégué et/ou désigner un conseiller en investissement délégué pour assurer un service de conseil en investissement conformément aux exigences de la Banque centrale. À la date du présent Supplément, le Gestionnaire de portefeuille a désigné le Gestionnaire de portefeuille délégué indiqué ci-dessous.

#### Gestionnaire de portefeuille délégué
Le Gestionnaire de portefeuille peut déléguer certaines ou la totalité de ses fonctions de gestion
d’investissement eu égard au présent Compartiment à
Insight North America LLC (le « Gestionnaire de portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique
« Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Euro

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée occasionnellement par les Administrateurs, à condition
que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale
et le niveau des commissions et frais prélevés. Les catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion annuelle de gestion | Commis- sion de rachat | Commission de per- formance | Indice de référence pour compa- raison de la performance | Taux de rendement minimal |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % | Aucun(e) | EURIBOR à 3 mois | Aucun(e) |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion annuelle de gestion | Commis- sion de rachat | Commission de per- formance | Indice de référence pour compa- raison de la performance | Taux de rendement minimal |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % | Aucun(e) | EURIBOR à 3 mois | Aucun(e) |
| USD W (Cap.) (couverte) | USD | 15 000 000 | 5 % | 0,75 % | 0 % | Aucun(e) | SOFR (composé à 90 jours) | Aucun(e) |
| USD W (Dist.) (couverte) | USD | 15 000 000 | 5 % | 0,75 % | 0 % | Aucun(e) | SOFR (composé à 90 jours) | Aucun(e) |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % | Aucun(e) | SONIA (composé à 90 jours) | Aucun(e) |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % | Aucun(e) | SONIA (composé à 90 jours) | Aucun(e) |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % | Aucun(e) | SARON (composé à 90 jours) | Aucun(e) |
| CHF W (Dist.) (couverte) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % | Aucun(e) | SARON (composé à 90 jours) | Aucun(e) |
| JPY W (Cap.) (couverte) | JPY | 1 500 000 000 | 5 % | 0,75 % | 0 % | Aucun(e) | TONAR (composé à 90 jours) | Aucun(e) |
| JPY W (Dist.) (couverte) | JPY | 1 500 000 000 | 5 % | 0,75 % | 0 % | Aucun(e) | TONAR (composé à 90 jours) | Aucun(e) |

| Actions « Z » et Actions « Z (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion annuelle de gestion | Commis- sion de rachat | Commission de per- formance | Indice de référence pour compa- raison de la performance | Taux de rendement minimal |
| Euro Z (Cap.) | EUR | 200 000 000 | 5 % | 0,65 % | 0 % | Aucun(e) | EURIBOR à 3 mois | Aucun(e) |
| Euro Z (Dist.) | EUR | 200 000 000 | 5 % | 0,65 % | 0 % | Aucun(e) | EURIBOR à 3 mois | Aucun(e) |
| Sterling Z (Cap.) (couverte) | GBP | 200 000 000 | 5 % | 0,65 % | 0 % | Aucun(e) | SONIA (composé à 90 jours) | Aucun(e) |
| Sterling Z (Dist.) (couverte) | GBP | 200 000 000 | 5 % | 0,65 % | 0 % | Aucun(e) | SONIA (composé à 90 jours) | Aucun(e) |

| Actions « R » et Actions « R (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion annuelle de gestion | Commis- sion de rachat | Commission de per- formance | Indice de référence pour compa- raison de la performance | Taux de rendement minimal |
| Euro R | EUR | 5 000 | 5 % | 1,00 % | 0 % | 10 % | EURIBOR à 3 mois | EURIBOR à 3 mois |
| Euro R (Dist.) | EUR | 5 000 | 5 % | 1,00 % | 0 % | 10 % | EURIBOR à 3 mois | EURIBOR à 3 mois |
| USD R (couverte) | USD | 5 000 | 5 % | 1,00 % | 0 % | 10 % | SOFR (composé à 90 jours) | SOFR (composé à 90 jours) + 0,27 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion annuelle de gestion | Commis- sion de rachat | Commission de per- formance | Indice de référence pour compa- raison de la performance | Taux de rendement minimal |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| USD R (Dist.) (couverte) | USD | 5 000 | 5 % | 1,00 % | 0 % | 10 % | SOFR (composé à 90 jours) | SOFR (composé à 90 jours) + 0,27 % |
| CHF R (Cap.) (couverte) | CHF | 5 000 | 5 % | 1,00 % | 0 % | 10 % | SARON (composé à 90 jours) | SARON (composé à 90 jours) + 0,01 % |
| CHF R (Dist.) (couverte) | CHF | 5 000 | 5 % | 1,00 % | 0 % | 10 % | SARON (composé à 90 jours) | SARON (composé à 90 jours) + 0,01 % |

| Actions « D » et Actions « D (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion annuelle de gestion | Commis- sion de rachat | Commission de per- formance | Indice de référence pour compa- raison de la performance | Taux de rendement minimal |
| Euro D (Cap.) | EUR | 5 000 | 5 % | 0,50 % | 0 % | 10 % | EURIBOR à 3 mois | EURIBOR à 3 mois |
| Euro D (Dist.) | EUR | 5 000 | 5 % | 0,50 % | 0 % | 10 % | EURIBOR à 3 mois | EURIBOR à 3 mois |
| USD D (Cap.) (couvertes) | USD | 5 000 | 5 % | 0,50 % | 0 % | 10 % | SOFR (composé à 90 jours) | SOFR (composé à 90 jours) + +0,27 % |
| USD D (Dist.) (couverte) | USD | 5 000 | 5 % | 0,50 % | 0 % | 10 % | SOFR (composé à 90 jours) | SOFR (composé à 90 jours) + 0,27 % |
| Sterling D (Cap.) (couverte) | GBP | 5 000 | 5 % | 0,50 % | 0 % | 10 % | SONIA (composé à 90 jours) | SONIA (composé à 90 jours) + 0,12 % |
| Sterling D (Dist.) (couverte) | GBP | 5 000 | 5 % | 0,50 % | 0 % | 10 % | SONIA (composé à 90 jours) | SONIA (composé à 90 jours) + 0,12 % |
| CHF D (Cap.) (couvertes) | CHF | 5 000 | 5 % | 0,50 % | 0 % | 10 % | SARON (composé à 90 jours) | SARON (composé à 90 jours) + 0,01 % |
| CHF D (Dist.) (couverte) | CHF | 5 000 | 5 % | 0,50 % | 0 % | 10 % | SARON (composé à 90 jours) | SARON (composé à 90 jours) + 0,01 % |

| Actions « S » et Actions « T (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion annuelle de gestion | Commis- sion de rachat | Commission de per- formance | Indice de référence pour compa- raison de la performance | Taux de rendement minimal |
| Euro S | EUR | 5 000 000 | 5 % | 0,50 % | 0 % | 10 % | EURIBOR à 3 mois | EURIBOR à 3 mois |
| Euro S (Dist.) | EUR | 5 000 000 | 5 % | 0,50 % | 0 % | 10 % | EURIBOR à 3 mois | EURIBOR à 3 mois |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion annuelle de gestion | Commis- sion de rachat | Commission de per- formance | Indice de référence pour compa- raison de la performance | Taux de rendement minimal |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| USD T (couverte) | USD | 5 000 000 | 5 % | 0,50 % | 0 % | 10 % | SOFR (composé à 90 jours) | SOFR (composé à 90 jours) + 0,27 % |
| USD T (Dist.) (couverte) | USD | 5 000 000 | 5 % | 0,50 % | 0 % | 10 % | SOFR (composé à 90 jours) | SOFR (composé à 90 jours) + 0,27 % |
| Sterling T (Cap.) (couverte) | GBP | 5 000 000 | 5 % | 0,50 % | 0 % | 10 % | SONIA (composé à 90 jours) | SONIA (composé à 90 jours) + 0,12 % |
| Sterling T (Dist.) (couverte) | GBP | 5 000 000 | 5 % | 0,50 % | 0 % | 10 % | SONIA (composé à 90 jours) | SONIA (composé à 90 jours) + 0,12 % |
| CHF T (Cap.) (couverte) | CHF | 5 000 000 | 5 % | 0,50 % | 0 % | 10 % | SARON (composé à 90 jours) | SARON (composé à 90 jours) + 0,01 % |
| CHF T (Dist.) (couverte) | CHF | 5 000 000 | 5 % | 0,50 % | 0 % | 10 % | SARON (composé à 90 jours) | SARON (composé à 90 jours) + 0,01 % |
| JPY T (Cap.) (couverte) | JPY | 500 000 000 | 5 % | 0,50 % | 0 % | 10 % | TONAR (composé à 90 jours) | TONAR (composé à 90 jours) + 0,01 % |
| JPY T (Dist.) (couverte) | JPY | 500 000 000 | 5 % | 0,50 % | 0 % | 10 % | TONAR (composé à 90 jours) | TONAR (composé à 90 jours) + 0,01 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion annuelle de gestion | Commis- sion de rachat | Commission de per- formance | Indice de référence pour compa- raison de la performance | Taux de rendement minimal |
| Euro X | EUR | Aucun(e) | 0 % | 0 % | 0 % | Aucun(e) | EURIBOR à 3 mois | Aucun(e) |
| Euro X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % | Aucun(e) | EURIBOR à 3 mois | Aucun(e) |
| USD X (Cap.) (couverte) | USD | Aucun(e) | 0 % | 0 % | 0 % | Aucun(e) | SOFR (composé à 90 jours) | Aucun(e) |
| USD X (Dist.) (couverte) | USD | Aucun(e) | 0 % | 0 % | 0 % | Aucun(e) | SOFR (composé à 90 jours) | Aucun(e) |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % | Aucun(e) | SONIA (composé à 90 jours) | Aucun(e) |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % | Aucun(e) | SONIA (composé à 90 jours) | Aucun(e) |
| CHF X (Cap.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % | Aucun(e) | SARON (composé à 90 jours) | Aucun(e) |
| CHF X (Dist.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % | Aucun(e) | SARON (composé à 90 jours) | Aucun(e) |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion annuelle de gestion | Commis- sion de rachat | Commission de per- formance | Indice de référence pour compa- raison de la performance | Taux de rendement minimal |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| JPY X (Cap.) (couverte) | JPY | Aucun(e) | 0 % | 0 % | 0 % | Aucun(e) | TONAR (composé à 90 jours) | Aucun(e) |
| JPY X (Dist.) (couverte) | JPY | Aucun(e) | 0 % | 0 % | 0 % | Aucun(e) | TONAR (composé à 90 jours) | Aucun(e) |


#### Commission de performance
Outre la commission annuelle de gestion, le Gestionnaire sera en droit de percevoir une commission de performance annuelle (la « Commission de
performance ») sous réserve des conditions énoncées ci- dessous. Le taux auquel la Commission de performance sera appliquée est indiqué dans le tableau ci-dessus. La Commission de performance réduit la valeur de votre investissement et le revenu que vous percevez à ce titre.
La Commission de performance relative à chaque Catégorie d’actions concernée sera égale au pourcentage de la commission de performance (comme indiqué dans
le tableau ci-dessus) du Rendement de la catégorie d’actions (comme défini ci-dessous) au-delà du Taux de rendement minimal (comme défini ci-dessous), sous réserve d’une « High Water Mark » (comme défini ci- dessous).
La Commission de performance sera calculée sur une période de douze mois clôturée le 31 décembre (la
« Période de calcul »). La première Période de calcul s’entend de la période débutant le Jour ouvrable qui suit immédiatement la fin de la Période d’offre initiale et se terminant au 31 décembre de la même année.
Le « Rendement de la catégorie d’actions » est calculé chaque Jour d’évaluation et correspond à la différence exprimée en pourcentage entre la Valeur liquidative ajustée ce Jour d’évaluation et la Valeur liquidative ajustée le Jour d’évaluation précédent.
La « Valeur liquidative ajustée » est la Valeur liquidative de la catégorie d’actions concernée (qui comprend un cumul pour l’ensemble des commissions et frais, y compris la commission annuelle de gestion et les frais
d’exploitation et administratifs à la charge de la catégorie d’actions concernée, après ajustement selon les éventuelles distributions de dividendes), mais sans
déduction pour toute Commission de performance courue depuis le début de la Période de calcul.
Le « Taux de rendement minimal » est le taux défini dans le tableau ci-dessus. Un taux de rendement minimal
désigne donc le taux de rendement minimal qu’un fonds
doit dépasser pour percevoir une commission de
performance.
Le « Taux de rendement minimal » est calculé chaque Jour d’évaluation et défini comme la plus élevée des deux valeurs suivantes : (i) le Taux de rendement minimal
(exprimé en pourcentage) ; ou (ii) zéro pour cent (0 %). Le
« Taux de rendement minimal » est indiqué dans le tableau ci-dessus et calculé sur une période de 365 jours
pour le SONIA (composé à 90 jours) et une période de 360 jours pour l’EURIBOR à 3 mois, le SOFR (composé à 90 jours), le SARON (composé à 90 jours) et le TONAR
(composé à 90 jours).
La « High Water Mark » est définie comme la plus élevée des deux valeurs suivantes : (i) la plus haute Valeur liquidative ajustée par Action pour laquelle une Commission de performance a été payée le dernier jour de toute Période de calcul antérieure ; ou (ii) le prix
d’émission initial par Action de chaque catégorie.
Chaque Jour d’évaluation, une Valeur liquidative ajustée est calculée pour chaque catégorie d’actions à laquelle s’applique la Commission de performance. Si la Valeur liquidative ajustée de la catégorie d’actions concernée
excède la « High Water Mark » et le Rendement de la catégorie d’actions excède le Taux de rendement minimal, une Commission de performance est due.
L’utilisation d’une « High Water Mark » garantit à l’investisseur qu’aucune Commission de performance ne sera due tant que toute sous-performance antérieure de la catégorie d’actions n’aura pas été récupérée. En
conséquence, aucune Commission de performance ne
sera due à moins que la Valeur liquidative ajustée par Action à la fin de la Période de calcul (ou à la date du
rachat, dans le cas d’une fusion, sous réserve des exigences de la Banque centrale), la date d’expiration de la Convention de gestion de portefeuille ou toute autre date de liquidation ou de cessation d’activité éventuelle
de la Société ou du Compartiment) soit supérieure à la
« High Water Mark ». *Les Investisseurs doivent noter que
la sous-performance relative du Rendement de la catégorie d’actions par rapport au Taux de rendement minimal sur les Périodes de calcul antérieures ne sera
pas récupérée.
S’il est inférieur à zéro pour cent (0 %), le Taux de rendement minimal appliqué au moment de calculer une Commission de performance sera de zéro pour cent
(0 %). Cela signifie qu’aucune Commission de
performance ne vous sera prélevée, sauf si le Rendement de la catégorie d’actions est supérieur à zéro pour cent (0 %) et que les Commissions de performance courues
sont limitées à la surperformance atteinte au-dessus de zéro pour cent (0 %). En d’autres termes, aucune commission de performance ne sera prélevée en périodes
de performances négatives.
Si le Rendement de la catégorie d’actions n’excède pas le Taux de rendement minimal, la Commission de performance courue est réduite (mais ne peut pas être
inférieure à zéro). La Commission de performance est réduite d’un montant égal au pourcentage de la commission de performance (comme défini dans le
tableau ci-dessus) de la sous-performance du Rendement de la catégorie d’actions par rapport au Taux de rendement minimal (le rendement négatif) multiplié
par les Actions émises. Si la Commission de performance cumulée est réduite à zéro, aucune nouvelle Commission de performance ne sera due tant que (i) le Rendement de
la catégorie d’actions cumulé n’excèdera pas le Taux de
rendement minimal cumulé depuis le début de la Période
de calcul et (ii) tant que la Valeur liquidative ajustée de la catégorie d’actions concernée n’excèdera pas la « High Water Mark ».
L’intégration de la Commission de performance dans la Valeur liquidative par Action chaque Jour d’évaluation dépend de l’acceptabilité des souscriptions, rachats,
échanges ou transferts.
Sont incluses dans le calcul de la Commission de performance les plus et moins-values réalisées et latentes à la fin de la période concernée. Ainsi les Commissions de performance peuvent être payées sur des plus-values latentes qui peuvent ne jamais être réalisées.
Une performance positive peut être générée par des mouvements de marché ainsi qu’une gestion active de portefeuille ; ceci peut mener à des situations où une
partie de la Commission de performance est payée sur la base des variations de marché.
Le calcul de la Commission de performance ne peut aucunement être manipulé et doit être vérifié par le Dépositaire.
La Commission de performance est calculée et cumulée chaque Jour d’évaluation et entièrement versée à terme échu, eu égard à chaque Période de calcul. Toute
Commission de performance due sera généralement payée dans les 30 Jours ouvrables suivant la fin de chaque Période de calcul, la date de rachat, la date de fusion (sous réserve des exigences de la Banque
centrale), la date d’expiration de la Convention de gestion
de portefeuille ou toute autre date de liquidation ou de cessation d’activité éventuelle de la Société ou du Compartiment.

##### Exemples pour comprendre le calcul de la commission de performance
Veuillez noter que le système de commission de performance ne permet pas de prélever de commissions de performance en cas de performance négative.
| Jour d’éva- luation | Valeur liqui- dative ajus- tée à la fin de la Période de calcul | High Water Mark | Taux de rendement minimal ex- primé en pence | Rendement excédentaire exprimé en pence* | Commission de per- formance** | Valeur liqui- dative à la fin de la Période de calcul | Exemple |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 31 décembre (premier exercice) | 105 p | 100 p | 102 p | 3 p | 0,3 p | 104,7 p | La performance s’est révélée positive sur la Période de calcul étant donné que la Valeur liquidative ajustée de 105 pence à la fin du premier exercice dépassait celle du prix d’émission initial de 100 pence En outre, la Valeur liquidative ajustée excède la « High Water Mark » établie à 100 pence ET le Rendement excédentaire de 3 pence est positif. Par conséquent, une commission de performance de 0,30 p a été payée. |
| 31 décembre (deuxième exercice) | 95 p | 105 p | 106 p | 0 p | 0 p | 95 p | La performance s’est révélée négative sur la Période de calcul étant donné que la Valeur liquidative ajustée établie à 95 pence à la fin du deuxième exercice était inférieure à celle 104,7 pence relevée à la fin du premier exercice Par conséquent, aucune commission de performance n’a été payée. |

| Jour d’éva- luation | Valeur liqui- dative ajus- tée à la fin de la Période de calcul | High Water Mark | Taux de rendement minimal ex- primé en pence | Rendement excédentaire exprimé en pence* | Commission de per- formance** | Valeur liqui- dative à la fin de la Période de calcul | Exemple |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 31 décembre (troisième exercice) | 104 p | 105 p | 97 p | 0 p | 0 p | 104 p | La performance s’est avérée positive sur la Période de calcul étant donné que la Valeur liquidative ajustée de 104 pence à la fin du troisième exercice dépassait la Valeur liquidative de 95 pence relevée à la fin du deuxième exercice Toutefois, la Valeur liquidative ajustée de 104 pence était inférieure à la « High Water Mark » établie à 105 pence, impliquant l’absence de Rendement excédentaire. Par conséquent, aucune commission de performance n’a été payée. |
| 31 décembre (quatrième exercice) | 110 p | 105 p | 108 p | 2 p | 0,20 p | 109,8 p | La performance s’est avérée positive sur la Période de calcul étant donné que la Valeur liquidative ajustée de 110 pence à la fin du quatrième exercice dépassait la Valeur liquidative de 104 pence relevée à la fin du troisième exercice En outre, la Valeur liquidative ajustée excède la « High Water Mark » établie à 105 pence ET le Rendement excédentaire de 2 pence est positif. Par conséquent, une commission de performance de 0,20 p a été payée. |

*Le Rendement excédentaire correspond à la surperformance du Rendement de la catégorie d’actions par rapport au Taux de rendement minimal lorsque la Valeur liquidative excède la « High Water Mark »
**10 % de Rendement excédentaire

#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à produire un rendement absolu positif en toutes conditions de marché sur une période mobile de 12 mois consécutifs en investissant principalement en titres et instruments de créance et titres apparentés du monde entier, et en instruments financiers dérivés liés à ces titres et instruments.

##### Politique d’investissement
Le Compartiment cherchera à atteindre son objectif d’investissement en investissant essentiellement en obligations et instruments apparentés, en d’autres types de titres cotés ou échangés sur tout Marché éligible et en
IFD autorisés par la Réglementation OPCVM, comme exposé ci-dessous.
Le Compartiment utilisera une gamme de stratégies de
revenu fixe impliquant des positions longues et courtes relativement aux taux d’intérêt, aux obligations et à l’inflation. Les décisions d’investissement dépendront du point de vue que le Gestionnaire de portefeuille porte sur
différentes sources de rendement mondiales comprenant, de façon non limitative, la stratégie de crédit, la sélection
de titres, l’allocation de marché, la duration et la courbe
de rendement, et la sélection de devises. Les positions
longues peuvent être détenues par une combinaison d’investissements directs et/ou d’IFD listés ci-dessous. Les positions à découvert seront détenues synthétiquement, par le biais d’IFD. Le ratio long/court du Compartiment variera au fil du temps en fonction des
stratégies que le Gestionnaire de portefeuille souhaite utiliser.
Le Gestionnaire de portefeuille utilisera principalement l’analyse et la recherche de crédit ascendantes pour sa sélection de valeurs, qui cherche à repérer, au niveau
mondial et sans préférence géographique spécifique, des investissements présentant un bon potentiel de production de rendement total.
Bien que sa devise de référence soit l’euro, le Compartiment peut investir dans des actifs non libellés en euros et pas obligatoirement couverts en euros.
Le Compartiment peut investir dans une gamme étendue d’instruments de créance pouvant être à taux fixe ou variable et comprenant des titres ou instruments de
créance et des obligations pouvant être émis ou garantis par des gouvernements souverains ou leurs agences et des titres ou instruments de créance et des obligations émis par des organismes supranationaux ou
internationaux publics, des banques, des sociétés ou d’autres émetteurs commerciaux.
Il est prévu que les émetteurs et/ou garants de tous
titres, instruments ou obligations mentionnés à la phrase qui précède seront assortis d’une notation de crédit, au moment de l’achat, au moins égale à BBB- (ou son équivalent) publiée par une Agence de notation reconnue,
ou seront jugés de qualité équivalente par le Gestionnaire de portefeuille.
Les types d’investissements en titres de créance dans lesquels le Compartiment peut investir comprennent, de façon non limitative, des obligations d'État et des bons
du Trésor de gouvernements souverains, des obligations supranationales, des obligations d’entreprise, des débentures, des billets (qui sont des valeurs mobilières) et d’autres instruments de créance de sociétés similaires, dont des obligations convertibles (notamment les titres
convertibles conditionnels (CoCo)), des titres adossés à des actifs, des certificats de dépôt, des obligations à taux variable, des obligations à court et moyen terme et des billets de trésorerie et autres instruments du marché monétaire.
Le Compartiment peut investir dans des titres de créance et apparentés de marchés émergents. Ces titres comprennent les obligations Brady, les euro-obligations
souveraines, les obligations d’entreprise, les prêts et les
prêts souverains, les bons, billets et obligations du Trésor
locaux, les certificats de dépôt, les billets de trésorerie, les obligations structurées et les titres du marché monétaire. De nombreux titres de marchés émergents dans lesquels le Compartiment peut investir ont, par définition, une notation de crédit inférieure à investment grade (BBB-) ; les émetteurs dont la notation est inférieure à (BBB-) sont de moins bonne qualité que ceux
notés investment grade, et l’investissement dans les
titres de ces émetteurs présente un risque élevé.
Les titres de créance peuvent être achetés assortis de bons de souscription. Les titres d’entreprise qui génèrent des revenus peuvent également comprendre des formes d’actions privilégiées. Le taux d’intérêt d’un titre de créance de sociétés peut être fixe ou variable et peut
varier inversement à un taux de référence.
Le Compartiment peut investir dans une gamme étendue de titres de qualité inférieure à investment grade notés
Ba1/BB+ ou moins (ou son équivalent) par une Agence de notation reconnue au moment de l’achat. Ces titres comprennent des obligations souveraines, des obligations supranationales, des obligations d’entreprise, des débentures, des billets (qui sont des valeurs mobilières) et d’autres instruments de créance de sociétés similaires, dont des obligations convertibles (notamment les titres
convertibles conditionnels(CoCo)), des titres adossés à des actifs, des certificats de dépôt, des obligations à
taux variable, des obligations à court et moyen terme et des billets de trésorerie et autres instruments du marché monétaire.
Le Compartiment peut également investir jusqu’à 10 % de sa Valeur liquidative en prêts, participations à des prêts
ou cessions de prêts à des emprunteurs (qui peuvent être des sociétés, des gouvernements souverains, des organismes publics ou autres) et qui seront soit des valeurs mobilières, soit des instruments du marché monétaire.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des CoCo. Veuillez consulter la section du Prospectus intitulée « Risque lié aux titres
convertibles conditionnels (« CoCo ») pour plus de détails sur les risques associés aux CoCo.
Le Compartiment peut investir jusqu’à 10 % dans d’autres organismes de placement collectif (« OPC ») à capital
variable, y compris des fonds monétaires, et peut également détenir des actifs liquides à titre accessoire
tels que des dépôts en banque. L’investissement dans
des OPC peut être utilisé à des fins de gestion de
liquidité ou pour donner une exposition aux titres de créance et apparentés indiqués dans la rubrique
« Politique d’investissement » ci-dessus.
Le Compartiment pourra investir jusqu’à 10 % de sa Valeur liquidative en titres cotés ou négociés sur des marchés russes. De tels investissements ne pourront être
effectués que sur des Marchés éligibles figurant dans l’Annexe II du Prospectus.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des titres de créance et apparentés en République populaire de Chine (« RPC ») négociés sur le
marché obligataire interbancaire chinois (« CIBM ») via le
programme Bond Connect (décrit plus en détail à l’Annexe VI du Prospectus).

##### Indice de référence
EURIBOR à 3 mois (l’« Indice de référence monétaire »).
L’EURIBOR (Euro Interbank Offer Rate) est un taux de référence constitué à partir du taux d’intérêt moyen auquel les banques de la zone euro offrent des prêts à
court terme non garantis sur le marché interbancaire.
Le Compartiment utilise l’Indice de référence monétaire comme élément de comparaison de sa performance sur une base mobile de 12 mois consécutifs, après déduction
des frais. Le Compartiment utilise l’Indice de référence
monétaire +3 % par an comme élément de comparaison
de sa performance sur une base mobile de 3 années consécutives, avant déduction des frais.
Le Compartiment est géré activement, ce qui signifie que le Gestionnaire de portefeuille a tout pouvoir pour
sélectionner les investissements sur la base de l’objectif et de la politique d’investissement.

##### Stratégie d’investissement
La stratégie d’investissement du Compartiment est une combinaison de :
Stratégie de crédit : la stratégie de crédit du Gestionnaire de portefeuille est fondée sur une approche descendante combinant des prévisions stratégiques à long terme, des vues tactiques à plus court terme et des observations
des tendances du marché ainsi qu’une analyse ascendante pour identifier les opportunités d’investissement les plus intéressantes.
Sélection de titres : le Gestionnaire de portefeuille étudie l’univers de crédit, en excluant les entreprises dont il estime que le reporting financier est inadéquat ou dont l’équipe de direction n’est pas suffisamment accessible. Les sociétés sont évaluées sur la base de leurs fondamentaux de crédit et d’autres risques pouvant entraîner une forte détérioration de la qualité du crédit.
Seules les opportunités que le Gestionnaire de portefeuille considère comme intéressantes et adéquatement valorisées sont sélectionnées pour le Compartiment.
Duration et courbe de rendement : dans le cadre de la
gestion de la duration, le Gestionnaire de portefeuille adopte un point de vue sur l’évolution future des rendements obligataires et des taux d’intérêt.
Allocation de marchés : les évaluations du Gestionnaire de portefeuille sont basées sur les fondamentaux
macroéconomiques. Le Gestionnaire de portefeuille utilise l’expertise de ses équipes chargées des obligations d’État et de la stratégie. Les gestionnaires du portefeuille d’obligations d’État assument tous les aspects de la recherche économique et autres relatifs à
leur marché. Dans le cadre de leur analyse, les
gestionnaires de portefeuille prennent en compte une gamme étendue de variables, tant liées à l’économie qu’au marché concerné.
Sélection des devises : le Compartiment vise à générer un niveau d’alpha (valeur ajoutée) modéré par le biais d’une sélection et d’une gestion active des devises.
L’univers d’investissement comprend toute la gamme de
devises mondiales.

##### Règlement sur la publication d’informations en matière de finance durable
Lorsque le Gestionnaire de portefeuille évalue le risque
en matière de durabilité associé aux investissements sous-jacents du Compartiment, il évalue le risque qu’un événement ou une condition ESG (« Événement ESG ») ait
une incidence négative importante sur la valeur de ces investissements sous-jacents. Les risques en matière de durabilité sont inclus dans le programme
d’investissement responsable du Gestionnaire de
portefeuille et sont gérés en veillant à ce que les décideurs de haut rang soient informés et à l’aide des procédures efficaces de responsabilisation, de transparence et d’application. Lorsque les questions de risque en matière de durabilité sont considérées comme
importantes pour les résultats d’investissement, elles sont intégrées aux processus d’étude préalable. Cette mesure peut inclure l’évaluation de titres individuels et/ ou l’interaction avec des émetteurs ou des acteurs du
marché. Les contrôles internes garantissent une
application permanente des critères de durabilité au Compartiment. Les restrictions ESG, qui comprennent des notations ESG attribuées en interne et des données
externes fournies par des tiers, sont destinées à empêcher ou permettre l’investissement dans des titres qui répondent à des caractéristiques de durabilité. Ces
contrôles sont codés par rapport au Compartiment et mis à jour à mesure que de nouvelles informations sont reçues et intégrées.
La gouvernance d’entreprise est un facteur de risque clé en matière de durabilité et fait partie du processus de
notation des risques ESG interne appliqué à tous les émetteurs. L’évaluation de la gouvernance d’entreprise effectuée par le Gestionnaire de portefeuille comprend l’évaluation des pratiques, du comportement, de la rémunération, du contrôle, de la responsabilité et de l’éthique du conseil d’administration ou des controverses le concernant. Le Gestionnaire de portefeuille utilise les
résultats des évaluations ESG, en plus de ses propres
connaissances des structures de gouvernance des émetteurs, pour fixer des priorités d’engagement avec ces derniers. Le Gestionnaire de portefeuille examine ces
risques dans leur ensemble afin de décider si un investissement compense raisonnablement un fonds pour les risques en matière de durabilité encourus à long et court terme.
En termes de facteurs sociaux et environnementaux, la méthode de notation ESG interne du Gestionnaire de portefeuille fournit des informations spécifiques au
secteur et à l’émetteur sur des questions clés. Ce modèle
aide le Gestionnaire de portefeuille à identifier les
risques clés auxquels un secteur ou un émetteur spécifique peut être confronté.
Le Compartiment peut générer des performances inférieures ou se comporter de manière différente par
rapport à d’autres fonds comparables qui n’intègrent pas
les risques en matière de durabilité dans leurs décisions d’investissement. Par ailleurs, il est toujours possible que sa valeur soit négativement affectée par un Événement
ESG.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences
négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins
d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur obligations Contrats à terme standardisés sur taux d’intérêt Contrats à terme standardisés sur devises |
| --- | --- |
| Options | Options sur contrats à terme standardisés de taux d’intérêt Options sur contrats à terme standardisés de devises Options sur devises (y compris options de change) Options sur obligations Options sur swaps de défaut de crédit (sur valeur individuelle, indice et panier personnalisé) Bons de souscription |
| Swaps | Swaps de défaut de crédit (sur valeur individuelle, indice et panier personnalisé) Swaps de taux d’intérêt Swaps d’inflation Swaps de devises Swaps de rendement total (sur valeur individuelle, crédit, indice, secteur et panier personnalisé) |
| Contrats à terme (livra- bles et non livrables) | Contrats de change à terme |
| Titres avec IFD intégrés/effet de levier | Obligations convertibles Titres convertibles conditionnels (CoCo), Titres adossés à des actifs (ABS) et Titres adossés à des créances hypothécaires (MBS) |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

##### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices financiers suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne
peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | iTraxx Europe Index Markit CDX North American Investment Grade Index |
| Indices de swaps de rendement total (« TRS») utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficiente qu’avec l’achat de titres physiques. | Markit iBoxx USD Liquid Investment Grade Total Return Index Markit iBoxx EUR Corporates Markit iBoxx USD Liquid High Yield Index Markit iBoxx EUR Liquid High Yield Index |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Les
indices financiers restants seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier,
il ne sera pas directement affecté par les rééquilibrages,
les coûts associés ou la pondération des actions de l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

##### Positions longues et courtes
Le Compartiment peut construire des expositions synthétiques longues et synthétiques courtes dans
chacune des classes d’actifs référencées dans la Politique d’investissement pour atteindre son objectif d’investissement. L’exposition longue nette totale (après prise en compte de la couverture) par le biais d’IFD ne
devrait pas dépasser 200 % de la Valeur liquidative du Compartiment et l’exposition nette courte totale ne devrait pas dépasser non plus 200 % de la Valeur liquidative du Compartiment (en utilisant l’approche par les engagements).
Exposition globale et effet de levier 
Méthodologie de calcul de l’exposition globale : VaR absolue
Limite de VaR absolue : 5 % de la Valeur liquidative du Compartiment (sur la base d’une période de détention de 5 Jours ouvrables)
L’effet de levier brut devrait varier entre : 50 – 1500 % de la Valeur liquidative. L’effet de levier brut peut toutefois dépasser ce niveau cible à certains moments.
Pour plus d’informations sur l’approche de la VaR absolue et l’Effet de levier brut, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».
Le Réglementation OPCVM de la Banque centrale prévoit que lorsque la VaR est utilisée comme approche de
gestion du risque, elle peut être complétée d’un calcul de l’effet de levier par le biais de l’approche par les engagements.
Effet de levier maximum : 300 % de la Valeur liquidative (sur la base de l’approche par les engagements)
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés,
options, swaps, contrats sur différence, titres avec IFD intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez
consulter la section du Prospectus intitulée « La Société – Gestion efficace de portefeuille » pour de plus amples informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des OFT, c’est à
dire des accords de prêt de titres et des accords de
mise/prise en pension, comme décrit sous la rubrique
« Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et aux OFT correspondent respectivement à 30 % et 100 %
de sa Valeur liquidative. Il n’est toutefois pas prévu que
ces expositions respectives aux TRS et aux OFT excèdent 20 % et 30 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet de TRS et OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 100 EUR, 100 USD, 100 GBP, 100 CHF ou
10 000 JPY selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le Prix de souscription est égal à la Valeur liquidative par Action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes de souscription d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés trimestriellement, les
31 décembre, 31 mars, 30 juin et 30 septembre. En ce qui concerne les détenteurs d’Actions de distribution, les dividendes déclarés seront normalement versés au plus
tard le 11 février, le 11 mai, le 11 août et le 11 novembre, respectivement. De plus amples informations sont
disponibles à la section « La Société – Politique de
distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon European Credit Fund

### SUPPLÉMENT 22, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».


#### Gestionnaire de portefeuille
Insight Investment Management (Global) Limited

#### Devise de référence
Euro

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les
tableaux ci-après et se différencient par leur devise de référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro A | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |

| Actions « G » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 0,50 % | 0 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 0,50 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro C | EUR | 5 000 000 | 5 % | 0,50 % | 0 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 0,50 % | 0 % |
| USD I (Cap.) (couverte) | USD | 5 000 000 | 5 % | 0,50 % | 0 % |
| USD I (Dist.) (couverte) | USD | 5 000 000 | 5 % | 0,50 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Sterling I (Cap.) (couverte) | GBP | 5 000 000 | 5 % | 0,50 % | 0 % |
| Sterling I (Dist.) (couverte) | GBP | 5 000 000 | 5 % | 0,50 % | 0 % |
| CHF I (Cap.) (couverte) | CHF | 5 000 000 | 5 % | 0,50 % | 0 % |
| JPY I (Cap.) (couverte) | JPY | 500 000 000 | 5 % | 0,50 % | 0 % |
| JPY I (Dist.) (couverte) | JPY | 500 000 000 | 5 % | 0,50 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,40 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,40 % | 0 % |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,40 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,40 % | 0 % |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,40 % | 0 % |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,40 % | 0 % |
| CHF W (Cap.) | CHF | 15 000 000 | 5 % | 0,40 % | 0 % |
| CHF W (Dist.) | CHF | 15 000 000 | 5 % | 0,40 % | 0 % |
| USD W (Cap.) (couverte) | USD | 15 000 000 | 5 % | 0,40 % | 0 % |
| USD W (Dist.) (couverte) | USD | 15 000 000 | 5 % | 0,40 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,40 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,40 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,40 % | 0 % |
| CHF W (Dist.) (couverte) | CHF | 15 000 000 | 5 % | 0,40 % | 0 % |
| JPY W (Cap.) (couverte) | JPY | 1 500 000 000 | 5 % | 0,40 % | 0 % |
| JPY W (Dist.) (couverte) | JPY | 1 500 000 000 | 5 % | 0,40 % | 0 % |

| Actions « X » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro X | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Cap.) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| JPY X (Cap.) (couverte) | JPY | Aucun(e) | 0 % | 0 % | 0 % |
| JPY X (Dist.) (couverte) | JPY | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à générer un rendement total constitué d’un revenu et d’une croissance du capital en investissant principalement dans une gamme étendue de
titres de créance et apparentés libellés en euros et dans des instruments financiers dérivés liés auxdits placements.

##### Politique d’investissement
Le Compartiment investira la majorité de ses actifs dans des obligations d’entreprise de qualité investment grade et des instruments liés au crédit à taux fixe ou variable
libellés en euros, cotés ou échangés sur tout Marché
éligible, mais peut également investir dans des instruments de créance émis par des entités d’État et supranationales, et des prêts et prêts souverains.
Le Compartiment peut investir directement dans des instruments de ce type ou par le biais d’une gamme étendue d’IFD (comme autorisé par la Réglementation OPCVM et mentionné ci-dessous).
À tout moment, l’exposition du Compartiment aux émetteurs d’État et supranationaux peut être importante, mais l’exposition aux obligations d’entreprise et aux instruments liés au crédit sera toujours supérieure à
50 % de sa Valeur liquidative.
Le Gestionnaire de portefeuille utilisera principalement l’analyse et la recherche de crédit ascendantes dans le cadre de son processus de sélection de valeurs, lequel
permet de repérer des investissements présentant un bon potentiel de production de rendement total.
Le Compartiment peut investir jusqu’à 25 % dans des instruments de qualité inférieure à investment grade et jusqu’à 10 % dans de la dette émergente.
Le Compartiment peut également investir dans d’autres valeurs mobilières, soit directement, soit par le biais d’une gamme étendue d’IFD, c’est-à-dire des titres à revenu fixe (tels que des obligations, des débentures et
des billets) émis par des sociétés (en plus de celles mentionnées ci-dessus) et des États, qui peuvent être à taux fixe ou variable.
Le Compartiment peut investir dans des titres de qualité
investment grade (notés au moins BBB- (ou son équivalent) au moment de l’achat) et de qualité inférieure à investment grade (notés Ba1/BB+ ou moins (ou son équivalent) au moment de l’achat), tel que déterminé par une Agence de notation reconnue, des obligations
convertibles (y compris des titres contingents convertibles), des organismes de placement collectif (« OPC »), des actifs liquides ou quasi-liquides et des
instruments du marché monétaire (y compris des billets de trésorerie et des certificats de dépôt).
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des CoCo. Veuillez consulter la section
du Prospectus intitulée « Risque lié aux titres convertibles conditionnels (« CoCo ») pour plus de détails sur les risques associés aux CoCo.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative en prêts, participations à des prêts ou cessions de prêts à des emprunteurs (qui peuvent être
des sociétés, des gouvernements souverains, des organismes publics ou autres) et qui seront soit des valeurs mobilières, soit des instruments du marché monétaire.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans d’autres OPC à capital variable, y compris des fonds monétaires, et peut également détenir
des actifs liquides à titre accessoire tels que des dépôts en banque. L’investissement dans des OPC peut être utilisé à des fins de gestion de liquidité ou pour donner
une exposition aux titres de créance et apparentés indiqués dans la rubrique « Politique d’investissement » ci-dessus.
Le Compartiment pourra investir jusqu’à 10 % de sa Valeur liquidative en titres cotés ou négociés sur des
marchés russes. De tels investissements ne pourront être effectués que sur des Marchés éligibles figurant dans
l’Annexe II du Prospectus.

##### Indice de référence
L’indice Markit iBoxx Euro Corporates TR Index (l« Indice de référence »).
L’Indice de référence représente des obligations à revenu fixe de qualité investment grade émises par des sociétés publiques ou privées. Les indices Markit iBoxx Corporates
couvrent les titres de créance seniors et subordonnés, et sont classés en valeurs financières (Financials) et non financières (Non Financials). Les valeurs financières sont à leur tour réparties entre quatre secteurs, et les valeurs non financières en neuf secteurs, selon le périmètre
d’activité de l’émetteur. Les indices iBoxx EUR Financials
et EUR Non-Financials comprennent respectivement
environ 700 et 1300 obligations.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour investir en dehors de l’Indice de référence sur la base de son objectif et de sa politique d’investissement. Cependant, du fait que l’Indice de référence couvre une part importante de l’univers d’investissement, la majorité des
participations du Compartiment seront des composantes de l’Indice de référence. Les pondérations du portefeuille pourront également être similaires à celles de l’Indice de référence. La stratégie d’investissement limitera la mesure dans laquelle les participations du portefeuille peuvent s’écarter de l’Indice de référence et, par conséquent, la mesure dans laquelle le Compartiment peut surclasser l’Indice de référence.

##### Stratégie d’investissement
La stratégie d’investissement du Compartiment est une combinaison de :
- appréhender l’environnement macroéconomique actuel et futur, relativement aux niveaux d’emploi, à l’inflation, aux taux d’intérêt, et à l’éventuel impactde ces facteurs sur les titres de créance etapparentés ainsi que sur les devises. Cette analyse est affinée à l’aide d’un certain nombre de sources d’informations, dont notamment les publications de données économiques, les déclarations des banquescentrales en matière de politique monétaire et l’analyse des données historiques ;et
- l’analyse des différentes classes d’actifs qui composent les investissements du Compartiment, c’est-à-dire le crédit, la dette émergente, les obligations d’État et les devises afin d’évaluer leurpotentiel de création de rendement.

Une fois cette analyse achevée, le Gestionnaire de portefeuille peut décider de l’allocation des actifs du Compartiment, c’est-à-dire du pourcentage des actifs à investir dans les différentes classes d’actifs. Le Gestionnaire de portefeuille peut prendre en
considération des facteurs comme les dépenses et la facilité d’implantation liées aux différentes stratégies d’investissement qu’il pourrait décider de mettre en
œuvre et au type d’exposition qu’il pourrait adopter, p. ex., privilégier les IFD ou OPC plutôt que l’achat direct des actifs.
La sélection des différents titres dans chaque classe d’actifs est effectuée avec la contribution des équipes de crédit, qui sont spécialisées dans des secteurs ou des
industries spécifiques, p. ex., les télécommunications, l’automobile, la technologie, la fabrication et les obligations d’État.

##### Règlement sur la publication d’informations en matière de finance durable
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents du Compartiment, il évalue le risque qu’un
événement ou une condition ESG (« Événement ESG ») ait
une incidence négative importante sur la valeur de ces investissements sous-jacents. Les risques en matière de
durabilité sont inclus dans le programme d’investissement responsable du Gestionnaire de portefeuille et sont gérés en veillant à ce que les décideurs de haut rang soient informés et à l’aide des procédures efficaces de responsabilisation, de transparence et d’application. Lorsque les questions de risque en matière de durabilité sont considérées comme
importantes pour les résultats d’investissement, elles sont intégrées aux processus d’étude préalable. Cette mesure peut inclure l’évaluation de titres individuels et/ ou l’interaction avec des émetteurs ou des acteurs du
marché. Les contrôles internes garantissent une
application permanente des critères de durabilité au Compartiment. Les restrictions ESG, qui comprennent des notations ESG attribuées en interne et des données externes fournies par des tiers, sont destinées à
empêcher ou permettre l’investissement dans des titres
qui répondent à des caractéristiques de durabilité. Ces
contrôles sont codés par rapport au Compartiment et mis à jour à mesure que de nouvelles informations sont reçues et intégrées.
La gouvernance d’entreprise est un facteur de risque clé en matière de durabilité et fait partie du processus de notation des risques ESG interne appliqué à tous les
émetteurs. L’évaluation de la gouvernance d’entreprise
effectuée par le Gestionnaire de portefeuille comprend l’évaluation des pratiques, du comportement, de la rémunération, du contrôle, de la responsabilité et de l’éthique du conseil d’administration ou des controverses le concernant. Le Gestionnaire de portefeuille utilise les
résultats des évaluations ESG, en plus de ses propres
connaissances des structures de gouvernance des émetteurs, pour fixer des priorités d’engagement avec ces derniers. Le Gestionnaire de portefeuille examine ces
risques dans leur ensemble afin de décider si un investissement compense raisonnablement un fonds pour les risques en matière de durabilité encourus à long et court terme.
En termes de facteurs sociaux et environnementaux, la méthode de notation ESG interne du Gestionnaire de
portefeuille fournit des informations spécifiques au secteur et à l’émetteur sur des questions clés. Ce modèle aide le Gestionnaire de portefeuille à identifier les
risques clés auxquels un secteur ou un émetteur spécifique peut être confronté.
Le Compartiment peut générer des performances inférieures ou se comporter de manière différente par
rapport à d’autres fonds comparables qui n’intègrent pas
les risques en matière de durabilité dans leurs décisions
d’investissement. Par ailleurs, il est toujours possible que sa valeur soit négativement affectée par un Événement ESG.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences
négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en
Bourse ou de gré à gré suivants, à des fins d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur devises |
| --- | --- |
| Options | Options sur devises (y compris options de change) Options sur obligations |
| Swaps | Swaps de défaut de crédit (sur valeur individuelle, indice et panier personnalisé) Swaps de taux d’intérêt Swaps d’inflation Swaps de devises Swaps de devises croisées Swaps de rendement total (sur valeur individuelle, crédit, indice, secteur et panier personnalisé) |
| Contrats à terme (livra- bles et non livrables) | Contrats de change à terme |
| Titres avec IFD intégrés/effet de levier | Obligations convertibles Titres convertibles conditionnels (CoCo) |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de gestion efficace de portefeuille (GEP). Le Compartiment utilise les indices financiers
suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | iTraxx Europe Index |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Toutefois,
sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages, les coûts associés ou la
pondération des actions de l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

##### Positions longues et courtes
Le Compartiment peut construire des expositions synthétiques longues et synthétiques courtes dans
chacune des classes d’actifs référencées dans la Politique d’investissement pour atteindre son objectif d’investissement. L’exposition longue nette totale (après prise en compte de la couverture) par le biais d’IFD ne
devrait pas dépasser 100 % de la Valeur liquidative du Compartiment et l’exposition nette courte totale ne devrait pas dépasser non plus 100 % de la Valeur liquidative du Compartiment (en utilisant l’approche par les engagements).
Exposition globale et effet de levier 
Méthodologie de calcul de l’exposition globale : VaR relative
Limite de VaR relative : Le portefeuille du Compartiment ne dépassera pas le double de la VaR d’un portefeuille de référence représentatif (sur la base d’une période de détention de 5 Jours ouvrables).
Indice de référence de la VaR relative : Markit iBoxx Euro Corporates Index
L’effet de levier brut devrait varier entre : 0 – 500 % de la Valeur liquidative. L’effet de levier brut peut toutefois dépasser ce niveau cible à certains moments.
Pour plus d’informations sur l’approche de la VaR relative et l’Effet de levier brut, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et Effet de levier » dans le Prospectus.
Le Réglementation OPCVM de la Banque centrale prévoit
que lorsque la VaR est utilisée comme approche de gestion du risque, elle peut être complétée d’un calcul de l’effet de levier par le biais de l’approche par les engagements.
Effet de levier maximum : 200 % de la Valeur liquidative (sur la base de l’approche par les engagements)
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés,
options, swaps, contrats sur différence, titres avec IFD intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des OFT, c’est à
dire des accords de prêt de titres et des accords de
mise/prise en pension, comme décrit sous la rubrique
« Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et aux OFT correspondent respectivement à 30 % et 100 %
de sa Valeur liquidative. Il n’est toutefois pas prévu que
ces expositions respectives aux TRS et aux OFT excèdent 20 % et 30 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet de TRS et OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la
contrepartie sont fournis aux rubriques du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra
automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment sur le site Internet www.bnymellonim.com.
Les Actions des catégories d’actions non lancées seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale respectif par Action, à savoir de 100 $, 100 £, 100 €, 100 CHF ou 10 000 ¥ selon la devise de la catégorie concernée (plus les droits d’entrée, le cas
échéant, applicables à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le Prix de souscription est égal à la Valeur liquidative par Action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes de souscription d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés trimestriellement, les
31 décembre, 31 mars, 30 juin et 30 septembre. En ce qui concerne les détenteurs d’Actions de distribution, les dividendes déclarés seront normalement versés au plus
tard le 11 février, le 11 mai, le 11 août et le 11 novembre, respectivement. De plus amples informations sont
disponibles à la section « La Société – Politique de
distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
Commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Global Real Return Fund (GBP)

### SUPPLÉMENT 23, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.
- Le Compartiment peut substantiellement investir dans des dépôts auprès d’établissements de crédit. Même si le Compartiment peut investir dans des instruments du marché monétaire et des dépôts en numéraire, les Actions dans le Compartiment ne sauraient constituer des dépôts et diffèrent des dépôts par nature en ceci que l’investissement n’est pas garanti et que sa valeur est susceptible de fluctuer. Les investissements dans le Compartiment impliquent certains risques d’investissement, dont la perte éventuelle du capital.


#### Gestionnaire de portefeuille
Newton Investment Management Limited

#### Gestionnaire de portefeuille délégué
Le Gestionnaire de portefeuille peut déléguer certaines ou la totalité de ses fonctions de gestion
d’investissement eu égard au présent Compartiment à
Newton Investment Management North America LLC (le
« Gestionnaire de portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique « Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Livre sterling

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée occasionnellement par les Administrateurs, à condition
que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| Sterling A (Cap.) | GBP | 5 000 | 5 % | 1,50 % | 0 % | SONIA (composé à 30 jours) + 4 % |
| Sterling A (Dist.) | GBP | 5 000 | 5 % | 1,50 % | 0 % | SONIA (composé à 30 jours) + 4 % |

| Actions « B » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| Sterling B (Cap.)* | GBP | 10 000 | 5 % | 1,50 % | 0 % | SONIA (composé à 30 jours) + 4 % |
| Sterling B (Dist.)* | GBP | 10 000 | 5 % | 1,50 % | 0 % | SONIA (composé à 30 jours) + 4 % |

*	Cette catégorie d’actions n’est plus disponible pour les nouveaux investisseurs.
| Actions « G » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| Sterling G (Cap.) | GBP | 5 000 | 5 % | 1,00 % | 0 % | SONIA (composé à 30 jours) + 4 % |
| Sterling G (Dist.) | GBP | 5 000 | 5 % | 1,00 % | 0 % | SONIA (composé à 30 jours) + 4 % |

| Actions « C » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| Sterling C (Cap.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % | SONIA (composé à 30 jours) + 4 % |
| Sterling C (Dist.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % | SONIA (composé à 30 jours) + 4 % |

| Actions « W » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % | SONIA (composé à 30 jours) + 4 % |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % | SONIA (composé à 30 jours) + 4 % |

| Actions « X » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| Sterling X (Cap.) | GBP | Aucun(e) | 0 % | 0 % | 0 % | SONIA (composé à 30 jours) + 4 % |
| Sterling X (Dist.) | GBP | Aucun(e) | 0 % | 0 % | 0 % | SONIA (composé à 30 jours) + 4 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment a pour objectif de réaliser un rendement total supérieur à l’indice de référence monétaire (tel que décrit ci-dessous) sur un horizon de
placement de 3 à 5 ans.

##### Politique d’investissement
Le Compartiment aura la possibilité d’investir librement dans une gamme étendue de classes d’actifs, avec l’objectif de maintenir une exposition au risque modérée à tout moment. Le Compartiment est constitué d’un
portefeuille mondial composé de divers actifs. L’allocation d’actifs se fera à la discrétion du Gestionnaire de portefeuille, sur la base de son approche
d’investissement globale thématique exclusive, à la fois au sein de chaque classe et entre les différentes classes d’actifs. Le Compartiment ne sera pas nécessairement investi simultanément dans chacune des classes d’actifs.
En règle générale, le Compartiment peut investir dans des actions et titres apparentés, des titres de créance et apparentés, des IFD (y compris les IFD sur devises), des organismes de placement collectif (« OPC »), des dépôts, des liquidités et équivalents et des instruments du marché monétaire. Chacun de ces titres est présenté ci- dessous de façon plus détaillée.
Les actions et titres apparentés dans lesquels le Compartiment peut investir sont principalement, mais de façon non limitative, des actions ordinaires, des actions privilégiées, des titres convertibles ou échangeables en actions ainsi que des certificats représentatifs de titres américains et internationaux cotés ou négociés sur des Marchés éligibles du monde entier.
Les titres de créance et apparentés dans lesquels le
Compartiment peut investir seront principalement, mais sans s’y limiter, des obligations à taux fixe ou variable d’émetteurs internationaux, des marchés émergents, souverains, d’États, d’agences supranationales, de sociétés, de banques et d’obligations autres, et d’autres
titres de créance et apparentés tels que des débentures, des billets (y compris des billets émis par des sociétés
ou des entités souveraines, à taux variable ou fixe, et à échéance d’un an minimum) ainsi que des titres adossés à des actifs ou à des créances hypothécaires.
Le Compartiment peut investir dans des titres de qualité investment grade ou de qualité inférieure à investment grade, telle que déterminée par une Agence de notation reconnue. Les investissements dans des titres à revenu fixe de qualité inférieure à investment grade ne devraient pas dépasser 30 % de la Valeur liquidative du Compartiment et seront généralement nettement inférieurs à 30 %.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des CoCo. Veuillez consulter la section
du Prospectus intitulée « Risque lié aux titres convertibles conditionnels (« CoCo ») pour plus de détails sur les risques associés aux CoCo.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des Obligations structurées.
Le Compartiment ne peut pas investir plus de 10 % de sa Valeur liquidative dans des OPC.
Afin de fournir liquidité et couverture aux expositions générées par l’utilisation d’IFD, la majorité des actifs du Compartiment peuvent à tout moment être investis dans
des espèces, des instruments du marché monétaire, y compris, mais sans s’y limiter, des billets de trésorerie, des obligations d’État à taux fixe ou variable et de qualité investment grade ou inférieure à investment grade (tel
que déterminé par une Agence de notation reconnue), des certificats de dépôt et des OPC.
Le Compartiment peut investir dans des matières premières et dans les secteurs de l’immobilier, des énergies renouvelables et des infrastructures par le biais d’une combinaison d’OPC (y compris des fonds négociés en Bourse à capital variable), d’actions et titres apparentés (comme les sociétés d’investissement immobilier cotés ou « REIT » et d’autres fonds cotés à capital fixe) et des instruments financiers à revenu fixe
(comme les obligations négociées en Bourse, [dont les matières premières et les certificats négociés en
Bourse]). Tout investissement dans des fonds cotés à capital fixe constituera un investissement dans un titre négociable conformément aux exigences de la Banque centrale.
Le Compartiment n’est pas soumis à un secteur géographique ni à un secteur d’activités particulier.
Le Compartiment pourra investir jusqu’à 10 % de sa Valeur liquidative en titres cotés ou négociés sur des
marchés russes. De tels investissements ne pourront être effectués que sur des Marchés éligibles figurant dans
l’Annexe II du Prospectus. Si le Compartiment investit
dans des actions et titres apparentés des marchés
émergents, ceux-ci représenteront des sociétés dont le siège social se trouve dans des pays émergents ou qui y exercent la majeure partie de leur activité économique.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des titres de créance et apparentés en
République populaire de Chine (« RPC ») négociés sur le marché obligataire interbancaire chinois (« CIBM ») via le programme Bond Connect (décrit plus en détail à
l’Annexe VI du Prospectus).
L’achat d’actions A chinoises via le Stock Connect est l’une des méthodes utilisées par le Compartiment pour acquérir une exposition aux titres chinois. Le Compartiment peut investir jusqu’à 10 % de sa Valeur
liquidative dans des actions chinoises de classe A par le
biais du Stock Connect. Le programme Stock Connect est présenté plus en détail dans l’Annexe V du Prospectus.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des valeurs mobilières qui ne sont pas cotées ou négociées sur des Marchés éligibles.

##### Indice de référence
SONIA (composé à 30 jours) + 4 % par an (l’« Indice de référence monétaire »).
Le Compartiment utilise l’Indice de référence monétaire comme objectif de performance à atteindre ou dépasser sur une période de 5 ans, avant déduction des frais.
Le SONIA (Sterling Overnight Index Average) est un taux d’intérêt de référence. Le SONIA est basé sur des transactions réelles et reflète la moyenne des taux d’intérêts payés par les Banques pour emprunter des livres sterling à un jour auprès d’autres établissements
financiers ou investisseurs institutionnels.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour sélectionner les investissements sur la base de l’objectif et de la politique d’investissement.

##### Stratégie d’investissement
La philosophie d’investissement est basée sur la conviction du Gestionnaire de portefeuille qu’aucune société, aucun marché ni aucune économie ne peuvent
être considérés isolément, chacun de ces éléments devant être examiné dans un contexte global. Le Gestionnaire de portefeuille estime que les événements qui surviennent dans le monde influent sur tous les marchés financiers et que, par conséquent, un investissement réussi dans des titres à la diversification internationale implique de bien comprendre le monde dans son ensemble.
Le Gestionnaire de portefeuille identifie les thèmes qui touchent à des changements majeurs au niveau
international et les utilise pour étayer ses idées d’investissement. Cette approche thématique mondiale permet au Gestionnaire de portefeuille d’acquérir une perspective à long terme sur les marchés financiers et
les économies du monde entier, en gardant toujours une vision d’ensemble. La perspective est une caractéristique essentielle du processus d’investissement, car elle permet d’anticiper les évolutions à l’échelle mondiale et oriente les analystes et gestionnaires de portefeuille vers
les opportunités rentables.
L’approche de rendement réel mondial est une stratégie multi-actifs à gestion active et principalement basée sur
des actifs « conventionnels » et le recours aux IFD pour protéger le capital ou générer des revenus. Les portefeuilles de rendement ciblé multi-actifs sont
construits d’après cette vision globale et suivent une approche d’investissement sans contrainte régionale, sectorielle ni indicielle. Le Gestionnaire de portefeuille adapte les caractéristiques de l’investissement visé aux évolutions de l’environnement d’investissement.
L’allocation d’actifs du Compartiment peut varier en
fonction du point de vue du Gestionnaire de portefeuille sur les conditions fondamentales de l’économie et du marché ainsi que sur les tendances en matière d’investissement dans le monde, tout en prenant en considération des facteurs comme la liquidité, les coûts, la durée d’exécution, le caractère intéressant relatif des titres individuels et des émetteurs disponibles sur le
marché.

##### Règlement sur la publication d’informations en matière de finance durable
La prise en compte du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque
en matière de durabilité associé aux investissements sous-jacents, il évalue le risque qu’un événement ou une condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Le Gestionnaire de portefeuille a accès à diverses
catégories de données ESG fournies par des tiers, qui permettent d’identifier les problèmes ESG potentiels auxquels un émetteur peut être confronté. Cela inclut, entre autres, l’exposition à des activités pouvant être
considérées comme nocives pour l’environnement ou la
société. Ces données, ainsi que celles obtenues par le
Gestionnaire de portefeuille dans le cadre de sa propre recherche sur l’investissement responsable, constituent une part importante de la prise en compte et de l’évaluation du niveau de risque en matière de durabilité auquel un investissement peut être soumis.
Cette évaluation est intégrée au processus de recherche au niveau des titres, qui repose sur l’analyse fondamentale des opportunités d’investissement individuelles à travers un certain nombre de facteurs
différents, notamment :
- les caractéristiques financières ou économiques fondamentales ;
- l’évaluation ;
- le profil risque/rendement ; et
- les caractéristiques ESG de l’émetteur, y compris la compréhension de la manière dont cesconsidérations peuvent avoir un impact sur les rendements économiques.

Le Gestionnaire de portefeuille tiendra compte des informations recueillies à partir de l’analyse fondamentale dans sa décision d’acquérir une participation dans une société émettrice ou de conserver
une position donnée.
Comme expliqué ci-dessus, l’évaluation et la gestion des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours
possible qu’un Événement ESG ait une incidence négative importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure
actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du
régime en matière de reporting. Le Gestionnaire continue d’analyser les données disponibles qui seraient nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins
| Contrats à terme standar- disés | Contrats à terme standardisés sur devises Contrats à terme standardisés sur obligations d’État Contrats à terme standardisés sur indices boursiers Contrats à terme standardisés sur indices de volatilité Contrats à terme standardisés sur actions |
| --- | --- |
| Options | Options sur actions (titre individuel, indice, secteur, panier personnalisé) Options à faible prix d’exercice (LEPO) et Bons de souscription à faible prix d’exercice (LEPW) Options sur indices Options sur obligations Options sur contrats à terme standardisés sur devises Options sur swaps Options sur indices de volatilité Options sur devises (incluant les Options de change) Options sur contrats à terme standardisés |

d’investissement :
| Swaps | Swaps de défaut de crédit (titre individuel, indice et panier personnalisé) Swaps de taux d’intérêt Swaps d’actions (titre individuel, indice, secteur et panier personnalisé) Swaps de variance Swaps de rendement total (titre individuel, crédit, indice et panier personnalisé) Contrats sur différence |
| --- | --- |
| Contrats à terme | Contrats de change à terme |
| Titres avec IFD intégrés/effet de levier | Obligations convertibles Titres convertibles conditionnels (CoCo) Titres adossés à des actifs (ABS) Titres adossés à des créances hypothécaires (MBS) Bons de souscription Billets structurés |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne peut pas accéder
directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | Indice Markit iTraxx CDS Index |
| Indices d’actions utilisés pour offrir une exposition aux marchés de titres régionaux et mondiaux de manière plus rentable ou plus efficace que par l’achat de titres physiques. | Borsa Istanbul 30 Dax 30 Index Euro Stoxx 50 Index FTSE 100 Index FTSE All Share Index FTSE World Index Hang Seng Index KOSPI Index MDAX Index MSCI All Countries World Index MSCI Emerging Markets Index Nasdaq Composite Index Nikkei 225 Index Russell 2000 Index S&P/ASX 200 Index S&P/TSX Composite Index S&P 500 Index Stoxx Europe 600 Index Stoxx Europe Small 200 |
| Indices de volatilité permettant de fournir une exposition à, ou exprimer le point de vue du Gestionnaire de portefeuille sur, la volatilité d’un marché ou d’une devise spécifique de manière plus rentable ou plus efficace que par l’achat de titres physiques. | Chicago Board Options Exchange SPX Volatility Index |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Les
indices financiers restants seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment
ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages,
les coûts associés ou la pondération des actions de l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

##### Positions longues et courtes
Le Compartiment peut construire des expositions
synthétiques longues et synthétiques courtes dans chacune des classes d’actifs référencées dans la Politique d’investissement pour atteindre son objectif d’investissement. L’exposition longue nette totale (après prise en compte de la couverture) par le biais d’IFD ne
devrait pas dépasser 100 % de la Valeur liquidative du Compartiment et l’exposition nette courte totale ne devrait pas dépasser non plus 100 % de la Valeur liquidative du Compartiment (en utilisant l’approche par les engagements).
Exposition globale et effet de levier 
Méthodologie de calcul de l’exposition globale : VaR absolue
Limite de VaR absolue : le portefeuille du Compartiment ne dépassera pas 20 % de la Valeur liquidative (sur la
base d’une période de détention de 20 Jours ouvrables).
L’effet de levier brut devrait varier entre : 0 % et 1 000 % de la Valeur liquidative du Compartiment. L’effet de levier brut peut toutefois dépasser ce niveau cible à certains
moments.
Pour plus d’informations sur l’approche de la VaR absolue et l’Effet de levier brut, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés,
options, swaps, contrats sur différence, titres avec IFD intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des OFT, c’est à
dire des accords de prêt de titres et des accords de mise/prise en pension, comme décrit sous la rubrique
« Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et
aux OFT correspondent respectivement à 100 % et 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que ces expositions respectives aux TRS et aux OFT excèdent 30 % et 15 % de sa Valeur liquidative. Les types d’actifs
qui feront l’objet de TRS et OFT seront les titres dont la nature est conforme à la politique d’investissement du
Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la
contrepartie sont fournis aux rubriques du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 £ selon la devise de la catégorie concernée
(majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront
normalement déclarés le 31 décembre de chaque année. Concernant les détenteurs d’Actions de distribution, les dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Global Emerging Markets Fund

### SUPPLÉMENT 24, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci-après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- La Valeur liquidative du Compartiment peut faire l’objet d’une volatilité élevée en raison de sa politique d’investissement.
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Newton Investment Management Limited

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Sterling A (Cap.) | GBP | 5 000 | 5 % | 2,00 % | 0 % |
| Sterling A (Dist.) | GBP | 5 000 | 5 % | 2,00 % | 0 % |
| Euro A | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| USD A | USD | 5 000 | 5 % | 2,00 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 2,00 % | 0 % |
| CHF A (Cap.) | CHF | 5 000 | 5 % | 2,00 % | 0 % |
| CHF A (Dist.) | CHF | 5 000 | 5 % | 2,00 % | 0 % |
| DKK A (Cap.) | DKK | 50 000 | 5 % | 2,00 % | 0 % |
| NOK A (Cap.) | NOK | 50 000 | 5 % | 2,00 % | 0 % |
| SEK A (Cap.) | SEK | 50 000 | 5 % | 2,00 % | 0 % |
| Euro H (couverte) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| Euro H (Dist.) (couverte) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| Sterling H (Cap.) (couverte) | GBP | 5 000 | 5 % | 2,00 % | 0 % |
| Sterling H (Dist.) (couverte) | GBP | 5 000 | 5 % | 2,00 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| CHF H (Cap.) (couverte) | CHF | 5 000 | 5 % | 2,00 % | 0 % |
| CHF H (Dist.) (couverte) | CHF | 5 000 | 5 % | 2,00 % | 0 % |

| Actions « B » et Actions « J (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro B (Cap.) | EUR | 10 000 | 5 % | 1,50 % | 0 % |
| Euro B (Dist.) | EUR | 10 000 | 5 % | 1,50 % | 0 % |
| USD B (Cap.) | USD | 10 000 | 5 % | 1,50 % | 0 % |
| USD B (Dist.) | USD | 10 000 | 5 % | 1,50 % | 0 % |
| CAD B (Cap.) | CAD | 10 000 | 5 % | 1,50 % | 0 % |
| SGD B (Cap.) | SGD | 10 000 | 5 % | 1,50 % | 0 % |
| SGD B (Dist.) | SGD | 10 000 | 5 % | 1,50 % | 0 % |
| AUD B (Cap.) | AUD | 10 000 | 5 % | 1,50 % | 0 % |
| CNH B (Cap.) | CNH | 100 000 | 5 % | 1,50 % | 0 % |
| HKD B (Cap.) | HKD | 100 000 | 5 % | 1,50 % | 0 % |
| Euro J (Cap.) (couverte) | EUR | 10 000 | 5 % | 1,50 % | 0 % |
| CAD J (Cap.) (couverte) | CAD | 10 000 | 5 % | 1,50 % | 0 % |
| SGD J (Cap.) (couverte) | SGD | 10 000 | 5 % | 1,50 % | 0 % |
| SGD J (Dist.) (couverte) | SGD | 10 000 | 5 % | 1,50 % | 0 % |
| AUD J (Cap.) (couverte) | AUD | 10 000 | 5 % | 1,50 % | 0 % |
| CNH J (Cap.) (couverte) | CNH | 100 000 | 5 % | 1,50 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| CHF G (Cap.) | CHF | 5 000 | 5 % | 1,00 % | 0 % |
| CHF G (Dist.) | CHF | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Sterling C (Cap.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling C (Dist.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro C (Cap.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| CHF C (Cap.) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % |
| CHF C (Dist.) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Sterling I (Cap.) (couverte) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling I (Dist.) (couverte) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| CHF I (Cap.) (couverte) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % |
| CHF I (Dist.) (couverte) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % |
| SGD I (Cap.) (couverte) | SGD | 5 000 000 | 5 % | 1,00 % | 0 % |
| SGD I (Dist.) (couverte) | SGD | 5 000 000 | 5 % | 1,00 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Cap.) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Dist.) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| CAD W (Cap.) | CAD | 15 000 000 | 5 % | 0,75 % | 0 % |
| AUD W (Cap.) | AUD | 15 000 000 | 5 % | 0,75 % | 0 % |
| HKD W (Cap.) | HKD | 150 000 000 | 5 % | 0,75 % | 0 % |
| SGD W (Cap.) | SGD | 15 000 000 | 5 % | 0,75 % | 0 % |
| CNH W (Cap.) | CNH | 150 000 000 | 5 % | 0,75 % | 0 % |
| DKK W (Cap.) | DKK | 150 000 000 | 5 % | 0,75 % | 0 % |
| NOK W (Cap.) | NOK | 150 000 000 | 5 % | 0,75 % | 0 % |
| SEK W (Cap.) | SEK | 150 000 000 | 5 % | 0,75 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Dist.) (couverte) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| CAD W (Cap.) (couverte) | CAD | 15 000 000 | 5 % | 0,75 % | 0 % |
| AUD W (Cap.) (couverte) | AUD | 15 000 000 | 5 % | 0,75 % | 0 % |
| SGD W (Cap.) (couverte) | SGD | 15 000 000 | 5 % | 0,75 % | 0 % |
| SGD W (Dist.) (couverte) | SGD | 15 000 000 | 5 % | 0,75 % | 0 % |
| CNH W (Cap.) (couverte) | CNH | 150 000 000 | 5 % | 0,75 % | 0 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro E (Cap.) | EUR | Comme convenu | 5 % | 0,45 % | 0 % |
| Euro E (Dist.) | EUR | Comme convenu | 5 % | 0,45 % | 0 % |
| USD E (Cap.) | USD | Comme convenu | 5 % | 0,45 % | 0 % |
| USD E (Dist.) | USD | Comme convenu | 5 % | 0,45 % | 0 % |
| Sterling E (Cap.) | GBP | Comme convenu | 5 % | 0,45 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Sterling E (Dist.) | GBP | Comme convenu | 5 % | 0,45 % | 0 % |
| CHF E (Cap.) | CHF | Comme convenu | 5 % | 0,45 % | 0 % |
| CHF E (Dist.) | CHF | Comme convenu | 5 % | 0,45 % | 0 % |
| Euro E (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,45 % | 0 % |
| Euro E (Dist.) (couverte) | EUR | Comme convenu | 5 % | 0,45 % | 0 % |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,45 % | 0 % |
| Sterling E (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,45 % | 0 % |
| CHF E (Cap.) (couverte) | CHF | Comme convenu | 5 % | 0,45 % | 0 % |
| CHF E (Dist.) (couverte) | CHF | Comme convenu | 5 % | 0,45 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Sterling X (Cap.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Cap.) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Dist.) | CHF | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
L’objectif du Compartiment est d’assurer une croissance du capital à long terme.

##### Politique d’investissement
Le Compartiment investit majoritairement (c’est-à-dire au moins les trois quarts de sa Valeur liquidative) dans des actions et titres apparentés de sociétés cotées,
négociées et situées dans des pays émergents, ou tirant
la majorité de leur revenu ou de leurs recettes de ces pays (y compris,sans toutefois s’y limiter, l’Afrique du Sud, le Brésil, le Chili, la Chine, la Corée, l’Inde, l’Indonésie, le Mexique, les Philippines et Taïwan).
Les participations du Compartiment seront cotées ou négociées sur des Marchés éligibles.
Le Compartiment investira principalement, mais pas exclusivement, dans les titres de capital suivants : actions ordinaires, actions privilégiées, titres convertibles ou échangeables en actions (comme les actions privilégiées convertibles), certificats représentatifs de titres américains et certificats représentatifs de titres mondiaux.
Le Compartiment peut également investir en fonds négociés en Bourse (« ETF », exchange traded funds) et en obligations négociées en Bourse (« ETN ») cotés ou négociés sur des Marchés éligibles du monde entier pour offrir une exposition aux marchés des actions. Tout
investissement dans des ETF à capital variable sera effectué conformément aux limites d’investissement des
organismes de placement collectif (« OPC ») (jusqu’à 10 % de la Valeur liquidative du Compartiment), et tout
investissement dans des ETF à capital fixe sera effectué dans la limite de 5 % de la Valeur liquidative du Compartiment. Les investissements dans les ETN
n’excéderont pas 20 % de la Valeur liquidative du
Compartiment.
Le Compartiment peut également investir au total jusqu’à 30 % de sa Valeur liquidative dans des sociétés d’investissement immobilier (« REIT », Real Estate Investment Trusts), des sociétés d’exploitation
immobilière (« REOC », Real Estate Operating Companies) et des titres de capital de sociétés dont l’activité principale est la détention, la gestion et/ou la promotion
de biens immobiliers produisant un revenu ou destinés à la vente, situés sur des marchés émergents, afin d’offrir une exposition aux marchés d’actions. Un REIT est un type de véhicule en gestion collective qui investit dans
l’immobilier ou dans des prêts ou intérêts liés à l’immobilier et qui sont cotés ou négociés sur des Marchés éligibles. Les REIT sont constitués en tant qu’entités « pass through », ce qui signifie que leurs revenus et plus-values sont exonérés d’impôts et directement transférés à leurs actionnaires, qui
supportent les impôts correspondants. Leur traitement fiscal n’est pas identique dans tous les pays. Les REOC sont des sociétés se livrant à une activité de promotion ou de gestion immobilière, ou de financement d’actifs immobiliers. Elles fournissent généralement des services
tels que la gestion et la promotion immobilières, la gestion d’équipements publics, le financement immobilier et les activités connexes. Les REOC sont des sociétés
immobilières cotées en Bourse qui ont choisi de ne pas être imposées selon le régime fiscal des REIT.
Le choix de ces titres s’explique par les trois principales raisons suivantes :
- l’existence de déficits fiscaux reportables sur les exercices futurs ;
- l’exercice d’activités ne relevant pas des activités générales opérées par les REIT ;et ;
- la possibilité de mettre en réserve des bénéfices.

Le Gestionnaire de portefeuille prévoit une exposition sectorielle étendue pour le Compartiment. Il n’existe également aucune restriction quant à la capitalisation
boursière des actions et titres apparentés dans lesquels le Compartiment peut investir. La sélection des actions se concentre sur les sociétés disposant de solides
fondamentaux et d’une valorisation intéressante dans le but d’assurer une appréciation du capital à long terme. Le Compartiment est essentiellement composé d’actions. Les allocations sont à la discrétion du Gestionnaire de portefeuille, qui s’appuie sur son approche d’investissement thématique globale exclusive. Le Gestionnaire de portefeuille utilise un processus qui se
caractérise par une approche de sélection de titres active
ascendante dans le cadre de laquelle les analystes spécialisés et les gestionnaires de fonds affinent l’univers d’actions sur la base de thèmes mondiaux fondés sur des facteurs politiques, culturels et démographiques de
changement. Il peut ainsi identifier les forces de changement à plus long terme intéressantes pour le Compartiment. Ces thèmes mondiaux incluent la
« concentration financière », qui évalue les implications du secteur bancaire d’après crise, l’« intervention de l’État », qui souligne le rôle accru des États de par le monde dans la vie économique et des marchés financiers
et le « monde Internet », qui observe comment les réseaux permettent à présent à l’information de circuler entre des entités n’ayant peut-être pas été connectées auparavant et comment cette connexion offre des
opportunités et des risques sans précédent pour les modèles d’entreprises basés sur le web ou traditionnels.
Le Compartiment peut utiliser des bons de participation (« P-Notes ») (jusqu’à 30 % de sa Valeur liquidative) cotés ou négociés sur des Marchés éligibles situés dans le monde entier. L’émetteur de ces P-Notes sera réglementé. Les P-Notes sont utilisés à des fins de
gestion efficace de portefeuille et offrent au Compartiment une possibilité d’exposition économique à des actions spécifiques sur des marchés où la détention
d’actions locales peut être moins efficiente que l’investissement aux P-Notes en question. Les types de P-Notes auxquelles le Compartiment peut recourir sont des options à faible prix d’exercice (« LEPO », low
exercise price options) et des bons de souscription à faible prix d’exercice (« LEPW », low exercise price warrants). Les LEPO/LEPW permettent aux investisseurs
de bénéficier des fluctuations du titre sous-jacent.
L’achat d’actions A chinoises via le Stock Connect est l’une des méthodes utilisées par le Compartiment pour acquérir une exposition aux titres chinois. Le Compartiment peut investir jusqu’à 30 % de sa Valeur
liquidative dans des actions chinoises de classe A par le
biais du Stock Connect. Le programme Stock Connect est présenté plus en détail dans l’Annexe V du Prospectus.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des titres cotés ou négociés à la Bourse de Moscou, et jusqu’à 10 % de sa Valeur liquidative dans des valeurs mobilières qui ne sont pas cotées ou
négociées sur des Marchés éligibles.
Le Compartiment peut également investir, à titre accessoire, dans une gamme étendue de titres liquides ou quasi liquides, ou de titres de créance et apparentés pouvant être émis ou garantis par des gouvernements souverains ou leurs agences, une autorité locale, des organismes supranationaux ou internationaux publics,
des banques, des sociétés ou d’autres émetteurs
exerçant une activité commerciale. Il est prévu que les
émetteurs et/ou garants de tous ces titres de créance ou apparentés soient au moins de qualité investment grade, c.-à-d. notés A1/P1 (ou son équivalent) au moment de
l’achat, tel que déterminé par une Agence de notation reconnue, ou, s’ils ne sont pas notés, qu’ils soient jugés être d’une qualité équivalente par le Gestionnaire de
portefeuille. Les titres de créance et apparentés
comprendront les dépôts bancaires, les bons et les billets du Trésor, les débentures, les obligations garanties, les titres adossés à des actifs ou à des créances hypothécaires sans effet de levier, les certificats de dépôt, les billets à taux variable et les billets de trésorerie. Ces titres de créance peuvent être à taux fixe ou variable, sont au moins de qualité investment grade, c.-à-d. notés AA (ou son équivalent) par une
Agence de notation reconnue (ou, s’ils ne sont pas notés, sont jugés d’une qualité équivalente par le Gestionnaire de portefeuille), et peuvent avoir une échéance
supérieure à 1 an. Aux fins du présent paragraphe, et afin de déterminer si un émetteur/garant ou un titre de créance non noté est de qualité équivalente, le Gestionnaire de portefeuille emploie une méthodologie
établie au niveau interne qui intègre les caractéristiques financières et non financières de l’émetteur et, le cas échéant, la notation de crédit de l’émetteur ainsi qu’une analyse comparative par rapport à ses homologues notés.

##### Indice de référence
L’indice MSCI Emerging Markets NR Index (l’« Indice de référence »).
L’Indice de référence est un indice pondéré par capitalisation boursière ajustée du flottant conçu pour mesurer la performance des sociétés à grande et
moyenne capitalisation sur les marchés émergents mondiaux. L’Indice de référence couvre approximativement 85 % de la capitalisation boursière ajustée du flottant dans chaque pays, c’est-à-dire à ce jour : le Brésil, le Chili, la Chine, la Colombie, la République tchèque, l’Égypte, la Grèce, la Hongrie, l’Inde,
l’Indonésie, la Corée, la Malaisie, le Mexique, le Pérou, les Philippines, la Pologne, la Russie, le Qatar, l’Afrique du
Sud, Taïwan, la Thaïlande, la Turquie et les Émirats
arabes unis.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que le Gestionnaire de portefeuille a tout pouvoir pour investir
en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement. Bien que les avoirs du Compartiment puissent inclure des composantes de l’Indice de référence, la sélection des
placements et leurs pondérations dans le portefeuille ne sont pas influencées par celles de l’Indice de référence.
La stratégie d’investissement ne restreint pas la mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.

##### Stratégie d’investissement
La philosophie d’investissement est basée sur la conviction du Gestionnaire de portefeuille qu’aucune société, aucun marché ni aucune économie ne peuvent
être considérés isolément, chacun de ces éléments devant être examiné dans un contexte global. Le Gestionnaire de portefeuille estime que les événements qui surviennent dans le monde influent sur tous les
marchés financiers et qu’un investissement réussi dans
des actions des pays émergents implique par conséquent
de bien comprendre le monde dans son ensemble.
Les thèmes d’investissement mondiaux du Gestionnaire de portefeuille visent à identifier ce qu’il considère être des tendances importantes, qui couvrent les principaux domaines d’évolution au niveau international. Le
Gestionnaire de portefeuille développe ses idées d’investissement à partir de ces thèmes. Cette approche thématique mondiale permet au Gestionnaire de portefeuille d’acquérir une perspective à long terme sur les marchés financiers et les économies du monde entier, en gardant une vision d’ensemble. La perspective est une caractéristique essentielle du processus d’investissement, car elle permet d’anticiper les
évolutions à l’échelle mondiale et oriente les analystes et
gestionnaires de portefeuille vers les opportunités
rentables.
Les portefeuilles d’actions des pays émergents mondiaux du Gestionnaire de portefeuille ont été construits d’après cette vision globale, au moyen d’un processus d’investissement axé sur la recherche ascendante Cette approche permet d’identifier les actions de sociétés
offrant une valorisation intéressante avec de bonnes
perspectives et de solides fondamentaux. Le Gestionnaire de portefeuille recherche en particulier un bilan équilibré, un rendement du capital durable et des équipes de
direction mettant l’accent sur les intérêts des
actionnaires.

##### Règlement sur la publication d’informations en matière de finance durable
La prise en compte du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque
en matière de durabilité associé aux investissements sous-jacents, il évalue le risque qu’un événement ou une condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Le Gestionnaire de portefeuille a accès à diverses
catégories de données ESG fournies par des tiers, qui permettent d’identifier les problèmes ESG potentiels auxquels un émetteur peut être confronté. Cela inclut, entre autres, l’exposition à des activités pouvant être
considérées comme nocives pour l’environnement ou la
société. Ces données, ainsi que celles obtenues par le
Gestionnaire de portefeuille dans le cadre de sa propre recherche sur l’investissement responsable, constituent une part importante de la prise en compte et de l’évaluation du niveau de risque en matière de durabilité auquel un investissement peut être soumis.
Cette évaluation est intégrée au processus de recherche au niveau des titres, qui repose sur l’analyse fondamentale des opportunités d’investissement individuelles à travers un certain nombre de facteurs
différents, notamment :
- les caractéristiques financières ou économiques fondamentales ;
- l’évaluation ;
- le profil risque/rendement ; et
- les caractéristiques ESG de l’émetteur, y compris la compréhension de la manière dont cesconsidérations peuvent avoir un impact sur les rendements économiques.

Le Gestionnaire de portefeuille tiendra compte des informations recueillies à partir de l’analyse fondamentale dans sa décision d’acquérir une participation dans une société émettrice ou de conserver
une position donnée.
Comme expliqué ci-dessus, l’évaluation et la gestion des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours
possible qu’un Événement ESG ait une incidence négative importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du régime des principales incidences négatives prévu à
l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire
soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs
de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Enregistrement en Allemagne
Ce Compartiment est enregistré à la vente en Allemagne. Le Compartiment est classé en tant que Fonds
d’investissement aux fins de l’impôt allemand et, à ce
titre, il investira en permanence plus de 50 % de ses actifs en actions au sens de l’Article 2, paragraphe 8 de la Loi allemande sur la fiscalité des investissements.

#### Enregistrement à Hong Kong
Ce Compartiment est enregistré à la vente à Hong Kong.

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 50 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés,
options, swaps, contrats sur différence, titres avec IFD intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale.
En utilisant des IFD à des fins de GEP, le Compartiment peut obtenir une exposition indirecte aux indices financiers.
Veuillez consulter la section du Prospectus intitulée « La Société – Gestion efficace de portefeuille » pour de plus amples informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux
OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront des titres de nature conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 £, 1 €, 1 CHF, 1 CAD, 1 AUD, 1 SGD,
10 HKD, 10 CNH, 10 DKK, 10 NOK ou 10 SEK, selon la
devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés le 31 décembre de chaque année.
Concernant les détenteurs d’Actions de distribution, les
dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons également l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Emerging Markets Debt Opportunistic Fund

### SUPPLÉMENT 25, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Les commissions de gestion et autres frais du Compartiment seront imputés au capital du Compartiment en vue de maximiser les distributions.

Veuillez consulter la section « Commissions et
frais » dans le Prospectus pour plus d’informations.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Valeurs mobilières, IFD et autres risques liés aux techniques ».
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Insight Investment Management (Global) Limited
Le Gestionnaire de portefeuille peut déléguer ses fonctions de gestion à un Gestionnaire de portefeuille délégué et/ou désigner un conseiller en investissement délégué pour assurer un service de conseil en investissement conformément aux exigences de la Banque centrale. À la date du présent Supplément, le Gestionnaire de portefeuille a désigné le Gestionnaire de portefeuille délégué indiqué ci-dessous.

#### Gestionnaire de portefeuille délégué
Le Gestionnaire de portefeuille peut déléguer certaines
ou la totalité de ses fonctions de gestion d’investissement eu égard au présent Compartiment à Insight North America LLC (le « Gestionnaire de
portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le
Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique
« Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les
tableaux ci-après et se différencient par leur devise de référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro A | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| USD A | USD | 5 000 | 5 % | 1,50 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 1,50 % | 0 % |
| Sterling A (Cap.) | GBP | 5 000 | 5 % | 1,50 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Sterling A (Dist.) | GBP | 5 000 | 5 % | 1,50 % | 0 % |
| CHF A (Cap.) | CHF | 5 000 | 5 % | 1,50 % | 0 % |
| Euro H (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| Euro H (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| Sterling H (Cap.) (couverte) | GBP | 5 000 | 5 % | 1,50 % | 0 % |
| Sterling H (Dist.) (couverte) | GBP | 5 000 | 5 % | 1,50 % | 0 % |
| CHF H (Cap.) (couverte) | CHF | 5 000 | 5 % | 1,50 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro C | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling C (Cap.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling C (Dist.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| CHF C (Cap.) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling I (Cap.) (couverte) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling I (Dist.) (couverte) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| CHF I (Cap.) (couverte) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,65 % | 0 % |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,65 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,65 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,65 % | 0 % |
| Euro W | EUR | 15 000 000 | 5 % | 0,65 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,65 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,65 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,65 % | 0 % |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,65 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,65 % | 0 % |
| CHF W (Cap.) | CHF | 15 000 000 | 5 % | 0,65 % | 0 % |

| Actions « X » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| USD X | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| JPY X (Cap.) | JPY | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Cap.) | CHF | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
L’objectif d’investissement du Compartiment est de maximiser le rendement total provenant de l’appréciation du revenu et du capital d’un portefeuille à revenu fixe d’obligations et d’autres instruments d’emprunt, y
compris les produits dérivés y afférents émis par des
gouvernements, des agences gouvernementales et des entreprises de pays émergents.

##### Politique d’investissement
Le Compartiment investira principalement dans un portefeuille d’obligations et d’autres titres de créance des marchés émergents, ou dans des IFD y afférents comme
prévu ci-dessous (y compris les contrats de change à terme), libellés en dollars américains ou dans la devise
locale du lieu d’émission.
Les titres des marchés émergents dans lesquels le Compartiment peut investir comprennent les obligations à taux fixe ou flottant émises par des agences internationales souveraines, gouvernementales et supranationales et par des entreprises, ainsi que les instruments liés au crédit (y compris les titres liés à un risque de crédit et les swaps de défaut de crédit) et les titres adossés à des créances hypothécaires et titres adossés à des actifs, ou les IFD y afférents.
Ces titres seront cotés ou négociés sur des Marchés éligibles ou des marchés situés dans le monde entier. La
qualité de crédit et l’échéance des titres concernés n’auront pas d’impact sur les décisions d’investissement prises par le Gestionnaire de portefeuille. Par
conséquent, les investissements du Compartiment ne seront pas soumis à une notation de crédit minimum.
Les marchés émergents comprennent les pays dont le produit intérieur brut (PIB) par habitant est inférieur au quartile supérieur, selon la classification de la Banque mondiale, ou les pays compris dans les indices
d’obligations ou d’actions des marchés émergents tels
que, par exemple, les indices JPM EMBI Global, JPM GBI-
EM Broad, JPM CEMBI Broad ou JPM ELMI+, MSCI EM,
ou les économies asiatiques nouvellement industrialisées, selon la classification de la Banque
mondiale/du FMI, ou les pays du Moyen-Orient, ou encore les pays qui représentent un niveau élevé de risque souverain (en raison de conditions financières/
économiques ou de facteurs politiques/géopolitiques). Le Gestionnaire de portefeuille dispose d’une grande latitude
pour déterminer, au sein des paramètres ci-dessus, ce
qui définit un pays émergent. Le Compartiment est susceptible d’investir, sans limitation, dans les pays d’Asie, d’Amérique latine, du Moyen-Orient, d’Afrique, d’Europe centrale et de l’Est, et de l’ex-Union soviétique.
Le Compartiment peut également investir jusqu’à 10 % de sa Valeur liquidative en prêts (y compris des
participations à des prêts/bons de participation à des prêts ou des cessions de prêts), qui seront soit des valeurs mobilières, soit des instruments du marché monétaire.
Le Compartiment peut également investir jusqu’à 10 % dans d’autres organismes de placement collectif
(« OPC ») à capital variable, y compris des fonds
monétaires, et peut également détenir des actifs liquides à titre accessoire tels que des dépôts en banque. Un investissement dans un OPC peut être utilisé à des fins
de gestion de liquidité ou pour offrir une exposition aux instruments énoncés dans la politique d’investissement ci-dessus.
Le Compartiment pourra investir jusqu’à 20 % de sa Valeur liquidative en titres cotés ou négociés sur des
marchés russes. Aux fins du présent Compartiment, l’information présentée dans le Prospectus à l’Annexe II du Prospectus, « Marchés éligibles », qui limite l’investissement dans les titres négociés à la Bourse de
Moscou aux actions ne s’applique pas et les
investissements dans les titres russes cotés à la Bourse
de Moscou sont réputés inclure des titres de créance et des actions.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des titres de créance en République populaire de Chine (« RPC ») négociés sur le marché
obligataire interbancaire chinois (« CIBM ») via le Bond Connect (ci-après décrit à l’Annexe VI au Prospectus).

##### Indice de référence
L’indice mixte composé à 50 % de l’indice JP Morgan Government Bond Index – Emerging Markets Global Diversified, 25 % de l’indice JP Morgan Emerging Markets Bond Index Global et 25 % de l’indice JP Morgan
Corporate Emerging Markets Bond Index Diversified, (l’« Indice de référence mixte »).
L’indice JPM GBI-EM constitue une mesure exhaustive des titres d’État à taux fixe libellés en devises locales et émis sur les marchés émergents. L’indice comprend les obligations d’État liquides, à taux fixe, dîtes « Bullet » (intégralement remboursables à l’échéance), ayant une échéance résiduelle d’au moins treize mois.
L’indice JPM EMBI est un indice de référence exhaustif des marchés émergents libellé en dollars américains. Peuvent être inclus dans l’indice les obligations Brady libellées en dollars américains, les euro-obligations et les
prêts négociés émis par des entités souveraines et quasi souveraines des marchés émergents. L’indice JPM CEMBI est un indice de référence liquide et mondial de sociétés
de pays émergents, y compris les obligations libellées en dollars américains émises par des sociétés de pays émergents.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence mixte.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour investir en dehors de l’Indice de référence mixte sur la base de l’objectif et de la politique d’investissement. Bien que la majorité des participations du Compartiment doivent être
des composantes de l’Indice de référence mixte et être
assorties de pondérations similaires à celles de ce dernier, la stratégie d’investissement ne limite pas la mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence mixte.

##### Stratégie d’investissement
Le Compartiment est un fonds obligataire activement géré conçu pour maximiser le rendement total d’un portefeuille à revenu fixe d’obligations et autres instruments de créance émis en devise forte ou locale
par des États, des agences et des entreprises de pays émergents, y compris avec un recours restreint aux IFD. Le Compartiment vise à répartir ses actifs stratégiquement et tactiquement entre des obligations de pays émergents libellées en dollars américains et en devises locales.
Le Gestionnaire de portefeuille applique un processus d’investissement rigoureux basé sur une analyse fondamentale approfondie du pays et des entreprises et
étayé par des modèles quantitatifs précis.
Les gestionnaires ont recours à une analyse descendante
des variables macroéconomiques, financières et politiques pour orienter l’allocation pays. L’environnement de risque mondial est soigneusement examiné.
Le Compartiment investira au moins les deux tiers de sa Valeur liquidative dans des titres d’émetteurs locaux de pays émergents du monde entier (et/ou y exerçant la
majeure partie de leur activité économique).
Le Compartiment pourra investir jusqu’à 20 % de sa Valeur liquidative en titres cotés ou négociés sur des marchés russes. (Ces titres seront cotés ou négociés sur
des Marchés éligibles du monde entier.)

##### Règlement sur la publication d’informations en matière de finance durable
La gestion du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents, il évalue le risque qu’un événement ou une
condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Dans le cadre de son processus de recherche de titres ascendant, le Gestionnaire de portefeuille évalue les facteurs environnementaux, sociaux et de gouvernance de chaque investissement du portefeuille afin de déterminer les risques potentiels en matière de
durabilité. Ces facteurs peuvent inclure, sans toutefois s’y limiter, un impact des émetteurs sur l’environnement, y compris les émissions, l’utilisation des sols et les pratiques en matière de déchets, ainsi que les politiques et pratiques sociales d’un émetteur, dont les questions
relatives aux employés, les pratiques de gestion de la chaîne d’approvisionnement et les politiques relatives aux droits de l’homme. La recherche sur le crédit interne du Gestionnaire de portefeuille inclut des ressources telles
que le score ESG établi par le Gestionnaire de portefeuille, et est complétée par des informations en provenance de tiers, notamment les données et notations ESG de MSCI, les données ESG de Bloomberg, le Guide
d’engagement du Sustainability Accounting Standards
Board (SASB), les rapports des agences de notation de
crédit, les études sell-side et les événements relatifs au secteur concerné. Cette étude des risques en matière de durabilité est prise en compte dans le processus de
sélection de titres, de même que la recherche macroéconomique et l’analyse de crédit menées par le Gestionnaire de portefeuille.
Le Gestionnaire de portefeuille évalue également les
pratiques de gouvernance des émetteurs par le biais d’une recherche fondamentale, complétée par des évaluations et notations de tiers, notamment en ce qui
concerne de saines structures de direction, les relations avec les employés, la rémunération du personnel et la conformité en matière de fiscalité.
Le Gestionnaire de portefeuille contrôle régulièrement les facteurs de durabilité et les expositions au risque en examinant les rapports de notation ESG de tiers et ceux établis en interne par son équipe.
Comme expliqué ci-dessus, la gestion et l’évaluation des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours
possible qu’un Événement ESG ait une incidence négative importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure
actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins
d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur obligations d’État Contrats à terme standardisés sur le marché monétaire Contrats à terme standardisés sur devises |
| --- | --- |
| Options | Options sur contrats à terme standardisés d’obligation d’État Options sur contrats à terme standardisés de devises Options sur devises (y compris options de change) Options sur obligations |
| Swaps | Swaps de défaut de crédit (sur valeur individuelle, indice et panier personnalisé) Swaps de taux d’intérêt Swaps de rendement total (sur valeur individuelle, crédit, indice, secteur et panier personnalisé) |
| Contrats à terme (livra- bles et non livrables) | Contrats de change à terme |
| Titres avec IFD intégrés/effet de levier | Titres liés à un risque de crédit Titres adossés à des actifs (ABS) et Titres adossés à des créances hypothécaires (MBS) |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices financiers suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne
peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | Markit CDX American Investment Grade High Volatility Index Markit CDX North American Investment Grade Index Markit CDX North American High Yield Index Markit CDX North American High Yield Beta Index Markit CDX Emerging Markets Index Markit CDX Emerging Markets Diversified Index Markit iTraxx Europe Index Markit iTraxx Crossover Index Markit iTraxx Financial Index Markit iTraxx Subordinated Financial Index |

| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de taux d’intérêt utilisés | EURIBOR |
| pour offrir une exposition aux | LIBOR |
| marchés de taux d’intérêt et | SOFR |
| exprimer le point de vue des | SONIA |
| gestionnaires selon lequel la |  |
| courbe de rendement évoluera |  |
| dans une direction particulière, |  |
| d’une manière plus rentable ou |  |
| plus efficiente qu’avec l’achat |  |
| de titres physiques. |  |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Les
indices financiers restants seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages, les coûts associés ou la pondération des actions de
l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.
Exposition globale et effet de levier 
Méthodologie de calcul de l’exposition globale : VaR relative
Limite de VaR relative : Le portefeuille du Compartiment ne dépassera pas le double de la VaR d’un portefeuille de référence représentatif (sur la base d’une période de détention de 20 Jours ouvrables).
Indice de référence de la VaR relative : un indice de référence mixte composé à 50 % de l’indice JP Morgan Government Bond Index – Emerging Markets Global Diversified, à 25 % de l’indice JP Morgan Emerging Markets Bond Index Global Index et à 25 % de l’indice JP
Morgan Corporate Emerging Markets Bond Index
Diversified Index
L’effet de levier brut devrait varier entre : 50 – 500 % de la Valeur liquidative. L’effet de levier brut peut toutefois dépasser ce niveau cible à certains moments.
Pour plus d’informations sur l’approche de la VaR relative et l’Effet de levier brut, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et Effet de levier » dans le Prospectus.

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez
consulter la section du Prospectus intitulée « La Société – Gestion efficace de portefeuille » pour de plus amples informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des OFT, c’est à
dire des accords de prêt de titres et des accords de
mise/prise en pension, comme décrit sous la rubrique
« Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et aux OFT correspondent respectivement à 10 % et 100 %
de sa Valeur liquidative. Il n’est toutefois pas prévu que
ces expositions respectives aux TRS et aux OFT excèdent 10 % et 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet de TRS et OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 £, 1 €, 1 CHF ou 100 ¥ selon la devise de la catégorie concernée (majoré, le cas échéant, de la
commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés trimestriellement, les
31 décembre, 31 mars, 30 juin et 30 septembre. En ce qui concerne les détenteurs d’Actions de distribution, les dividendes déclarés seront normalement versés au plus
tard le 11 février, le 11 mai, le 11 août et le 11 novembre, respectivement. De plus amples informations sont
disponibles à la section « La Société – Politique de
distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à la rubrique « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Japan Small Cap Equity Focus Fund

### SUPPLÉMENT 26, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci-après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- La Valeur liquidative du Compartiment peut faire l’objet d’une volatilité élevée en raison de sa politique d’investissement.


#### Gestionnaire de portefeuille
BNY Mellon Investment Management Japan Limited

#### Devise de référence
Yen japonais

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et au Japon.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les
tableaux ci-après et se différencient par leur devise de référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites sous la rubrique « La Société – Structure » du Prospectus.
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR A (Cap.) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| USD A (Cap.) | USD | 5 000 | 5 % | 2,00 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 2,00 % | 0 % |
| Sterling A (Cap.) | GBP | 5 000 | 5 % | 2,00 % | 0 % |
| Sterling A (Dist.) | GBP | 5 000 | 5 % | 2,00 % | 0 % |
| CHF A (Cap.) | CHF | 5 000 | 5 % | 2,00 % | 0 % |
| CHF A (Dist.) | CHF | 5 000 | 5 % | 2,00 % | 0 % |
| JPY A (Cap.) | JPY | 500 000 | 5 % | 2,00 % | 0 % |
| JPY A (Dist.) | JPY | 500 000 | 5 % | 2,00 % | 0 % |
| Euro H (couverte) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| Euro H (Dist.) (couverte) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| USD H (couverte) | USD | 5 000 | 5 % | 2,00 % | 0 % |
| USD H (Dist.) (couverte) | USD | 5 000 | 5 % | 2,00 % | 0 % |
| Sterling H (Cap.) (couverte) | GBP | 5 000 | 5 % | 2,00 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Sterling H (Dist.) (couverte) | GBP | 5 000 | 5 % | 2,00 % | 0 % |
| CHF H (Cap.) (couverte) | CHF | 5 000 | 5 % | 2,00 % | 0 % |
| CHF H (Dist.) (couverte) | CHF | 5 000 | 5 % | 2,00 % | 0 % |
| SGD H (Cap.) (couverte) | SGD | 5 000 | 5 % | 2,00 % | 0 % |
| SGD H (Dist.) (couverte) | SGD | 5 000 | 5 % | 2,00 % | 0 % |
| DKK H (Cap.) (couverte) | DKK | 50 000 | 5 % | 2,00 % | 0 % |
| NOK H (Cap.) (couverte) | NOK | 50 000 | 5 % | 2,00 % | 0 % |
| SEK H (Cap.) (couverte) | SEK | 50 000 | 5 % | 2,00 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| JPY G (Cap.) | JPY | 500 000 | 5 % | 1,00 % | 0 % |
| JPY G (Dist.) | JPY | 500 000 | 5 % | 1,00 % | 0 % |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| USD G (Cap.) (couverte) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD G (Dist.) (couverte) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| SGD G (Cap.) (couverte) | SGD | 5 000 | 5 % | 1,00 % | 0 % |
| SGD G (Dist.) (couverte) | SGD | 5 000 | 5 % | 1,00 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro C (Cap.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling C (Cap.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling C (Dist.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| CHF C (Cap.) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % |
| CHF C (Dist.) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % |
| JPY C | JPY | 500 000 000 | 5 % | 1,00 % | 0 % |
| JPY C (Dist.) | JPY | 500 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD I (couverte) | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD I (Dist.) (couverte) | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling I (Cap.) (couverte) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling I (Dist.) (couverte) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| CHF I (Cap.) (couverte) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % |
| CHF I (Dist.) (couverte) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % |
| SGD I (Cap.) (couverte) | SGD | 5 000 000 | 5 % | 1,00 % | 0 % |
| SGD I (Dist.) (couverte) | SGD | 5 000 000 | 5 % | 1,00 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Cap.) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Dist.) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| JPY W | JPY | 1 500 000 000 | 5 % | 0,75 % | 0 % |
| JPY W (Dist.) | JPY | 1 500 000 000 | 5 % | 0,75 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| USD W (Cap.) (couverte) | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| USD W (Dist.) (couverte) | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Dist.) (couverte) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| SGD W (Cap.) (couverte) | SGD | 15 000 000 | 5 % | 0,75 % | 0 % |
| SGD W (Dist.) (couverte) | SGD | 15 000 000 | 5 % | 0,75 % | 0 % |
| DKK W (Cap.) (couverte) | DKK | 150 000 000 | 5 % | 0,75 % | 0 % |
| NOK W (Cap.) (couverte) | NOK | 150 000 000 | 5 % | 0,75 % | 0 % |
| SEK W (Cap.) (couverte) | SEK | 150 000 000 | 5 % | 0,75 % | 0 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro E (Cap.) | EUR | Comme convenu | 5 % | 0,55 % | 0 % |
| Euro E (Dist.) | EUR | Comme convenu | 5 % | 0,55 % | 0 % |
| USD E (Cap.) | USD | Comme convenu | 5 % | 0,55 % | 0 % |
| USD E (Dist.) | USD | Comme convenu | 5 % | 0,55 % | 0 % |
| Sterling E (Cap.) | GBP | Comme convenu | 5 % | 0,55 % | 0 % |
| Sterling E (Dist.) | GBP | Comme convenu | 5 % | 0,55 % | 0 % |
| CHF E (Cap.) | CHF | Comme convenu | 5 % | 0,55 % | 0 % |
| CHF E (Dist.) | CHF | Comme convenu | 5 % | 0,55 % | 0 % |
| JPY E (Cap.) | JPY | Comme convenu | 5 % | 0,55 % | 0 % |
| JPY E (Dist.) | JPY | Comme convenu | 5 % | 0,55 % | 0 % |
| Euro E (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,55 % | 0 % |
| Euro E (Dist.) (couverte) | EUR | Comme convenu | 5 % | 0,55 % | 0 % |
| USD E (Cap.) (couverte) | USD | Comme convenu | 5 % | 0,55 % | 0 % |
| USD E (Dist.) (couverte) | USD | Comme convenu | 5 % | 0,55 % | 0 % |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,55 % | 0 % |
| Sterling E (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,55 % | 0 % |
| CHF E (Cap.) (couverte) | CHF | Comme convenu | 5 % | 0,55 % | 0 % |
| CHF E (Dist.) (couverte) | CHF | Comme convenu | 5 % | 0,55 % | 0 % |
| SGD E (Cap.) (couverte) | SGD | Comme convenu | 5 % | 0,55 % | 0 % |
| SGD E (Dist.) (couverte) | SGD | Comme convenu | 5 % | 0,55 % | 0 % |

| Actions « X » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Cap.) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Dist.) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| JPY X (Cap.) | JPY | Aucun(e) | 0 % | 0 % | 0 % |
| JPY X (Dist.) | JPY | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
L’objectif d’investissement du Compartiment est d’obtenir une croissance du capital à long terme en investissant dans un portefeuille d’actions de petites capitalisations négociées sur une ou plusieurs Bourses officielles au
Japon.

##### Politique d’investissement
Le Compartiment cherche à atteindre son objectif d’investissement en plaçant au moins 80 % de sa Valeur liquidative dans les actions de sociétés de petite capitalisation (d’une valeur essentiellement inférieure à 500 milliards de yens) cotées ou régulièrement négociées
sur un Marché éligible au Japon.
Le Compartiment peut également investir en sociétés d’investissement immobilier (« REIT ») cotées ou négociées à la Bourse de Tokyo.
Le Compartiment peut également détenir jusqu’à 20 % en liquidités ou, sous réserve de toutes restrictions
exposées au Prospectus, investir en liquidités ou en fonds monétaires à des fins de gestion de liquidité. Le Compartiment peut également recourir à des contrats à terme standardisés sur indices boursiers à des fins de gestion de liquidité. Par exemple, dans le cas de petites entrées et sorties de liquidités, le Gestionnaire de
portefeuille peut choisir d’utiliser des contrats à terme
standardisés sur indices boursiers pour augmenter ou réduire l’exposition, respectivement, aux actions visées ci-dessus. Dans ces circonstances, investir en contrats à
terme standardisés sur indices boursiers peut être plus rentable qu’investir directement dans ces titres.
Le Compartiment sera normalement diversifié sur de nombreux secteurs du Tokyo Stock Price Index (TOPIX). Le TOPIX comprend 33 secteurs tels que les équipements de
transport, l’informatique et les communications, les
appareils électriques, les produits pharmaceutiques, l’immobilier, la construction et les machines. Le Compartiment sera exposé à un grand nombre de ces
33 secteurs. Il pourra utiliser des contrats de change à terme à des fins de couverture comme stipulé dans la rubrique du Prospectus intitulée « Gestion efficace de portefeuille ».
Le Compartiment ne peut pas investir plus de 10 % de sa Valeur liquidative au total dans des organismes de placement collectif (« OPC »). Un investissement dans un OPC peut être utilisé à des fins de gestion de liquidité ou pour offrir une exposition aux titres de capital énoncés
dans la politique d’investissement ci-dessus.
Le Compartiment peut investir sur une année jusqu’à 10 % de sa Valeur liquidative en valeurs mobilières
(actions) récemment émises, non cotées ni négociées sur des Marchés éligibles.

##### Indice de référence
L’indice Russell Nomura Small Cap Index (l’« Indice de référence »).
L’Indice de référence représente approximativement les 15 % de titres qui présentent la plus petite capitalisation boursière ajustée du flottant de l’indice Russell Nomura Total Market Index.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que le Gestionnaire de portefeuille a tout pouvoir pour investir
en dehors de l’Indice de référence sur la base de son objectif et de sa politique d’investissement.
Cependant, l’Indice de référence couvrant une part importante de l’univers d’investissement, la majorité des participations du Compartiment seront des composantes de l’Indice de référence. Les pondérations du portefeuille ne seront toutefois pas influencées par celles de l’Indice de référence. La stratégie d’investissement limitera la mesure dans laquelle les participations du portefeuille peuvent s’écarter de l’Indice de référence et, par conséquent, la mesure dans laquelle le Compartiment peut surclasser l’Indice de référence.

##### Stratégie d’investissement
La stratégie du Gestionnaire de portefeuille consiste à investir dans un portefeuille concentré d’actions de sociétés à faible capitalisation situées au Japon, cotées
ou régulièrement négociées sur une Place boursière reconnue au Japon. Le Compartiment est un fonds exclusivement axé sur le Japon qui ne recherchera aucune exposition à un autre pays. Le Gestionnaire de portefeuille choisira les titres qui composent le
portefeuille d’après une recherche fondamentale avec
une perspective de revenus à moyen et long terme,
généralement sur trois ans, en s’efforçant de générer un rendement excédentaire par rapport à l’Indice de référence, essentiellement par le biais de la sélection de titres. Le processus d’investissement est centré sur le
repérage de sociétés dotées de qualités telles que le
potentiel de croissance, la capacité à produire des revenus à long terme supérieurs aux attentes ainsi qu’une valorisation intéressante. Le portefeuille sera investi
essentiellement en titres de sociétés ayant une capitalisation boursière maximum de 500 milliards de yens et détiendra normalement moins de 40 positions.

##### Règlement sur la publication d’informations en matière de finance durable
La gestion du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille. Lorsque le Gestionnaire de portefeuille évalue le risque en matière
de durabilité associé aux investissements sous-jacents, il évalue le risque qu’un événement ou une condition ESG (« Événement ESG ») ait une incidence négative
importante sur la valeur de ces investissements sous- jacents.
Le risque en matière de durabilité est identifié, contrôlé et géré par le Gestionnaire de portefeuille de la manière suivante :
–	Avant d’acquérir des investissements pour le compte d’un Compartiment, le Gestionnaire de portefeuille utilise les indicateurs ESG publiés par l’émetteur et engage directement un dialogue avec celui-ci afin d’évaluer l’investissement pertinent par rapport au risque en matière de durabilité et d’identifier sa vulnérabilité à cet égard. Ce processus comprend l’application d’une politique d’exclusion (selon laquelle les investissements potentiels peuvent être retirés de l’univers d’investissement sur la base d’un
risque en matière de durabilité trop élevé pour le
Compartiment). Le Gestionnaire de portefeuille effectue également une analyse fondamentale de
chaque investissement potentiel afin de pouvoir évaluer l’adéquation des pratiques ESG d’un émetteur et gérer ainsi le risque en matière de durabilité auquel il est confronté. Dans sa décision d’acquérir une participation dans une société émettrice donnée,
le Gestionnaire de portefeuille tiendra compte des informations recueillies à partir de l’analyse fondamentale.
–	Pendant la durée de vie de l’investissement, le risque en matière de durabilité est contrôlé en examinant les données ESG publiées par l’émetteur afin de déterminer si le niveau de risque en matière de
durabilité a changé depuis la réalisation de l’évaluation initiale. Cet examen est effectué au moins une fois par an. Si le risque en matière de
durabilité associé à un investissement particulier augmente au-delà de la propension au risque ESG du Compartiment concerné, le Gestionnaire de portefeuille envisagera de vendre ou de réduire
l’exposition du Compartiment à l’investissement
concerné, en tenant compte au mieux des intérêts
des Actionnaires du Compartiment.
Comme expliqué ci-dessus, la gestion et l’évaluation du risque en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours
possible qu’un Événement ESG ait une incidence négative importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences
négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Outre l’utilisation d’IFD à des fins de couverture, ce Compartiment peut utiliser les contrats à terme
standardisés sur indices boursiers à des fins de gestion de liquidité, pour réduire les coûts et générer un capital ou un revenu supplémentaire avec un niveau de risque faible acceptable et conforme au profil de risque du Compartiment (par rapport au rendement attendu) et aux exigences de diversification du risque de la Réglementation OPCVM de la Banque centrale et de la
Note d’orientation de la Banque centrale sur les « Actifs
éligibles des OPCVM » et tel que décrit à la rubrique « La Société – Restrictions en matière d’investissement et d’emprunt » du Prospectus.

#### Enregistrement en Allemagne
Ce Compartiment est enregistré à la vente en Allemagne. Le Compartiment est classé en tant que Fonds
d’investissement aux fins de l’impôt allemand et, à ce
titre, il investira en permanence plus de 50 % de ses actifs en actions au sens de l’Article 2, paragraphe 8 de la Loi allemande sur la fiscalité des investissements.

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 100 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés,
options, swaps, contrats sur différence, titres avec IFD intégrés, contrats à terme et bons de souscription. Le
Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. En utilisant des IFD à des fins de GEP, le Compartiment peut obtenir une exposition indirecte aux indices financiers.
Veuillez consulter la section du Prospectus intitulée « La Société – Gestion efficace de portefeuille » pour de plus amples informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 £, 1 €, 1 CHF, 1 SGD, 100 ¥, 10 DKK,
10 NOK ou 10 SEK, selon la devise de la catégorie
concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront
normalement déclarés le 31 décembre de chaque année. Concernant les détenteurs d’Actions de distribution, les dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à la rubrique « Gestion et administration de la
Société – Commissions et frais » du Prospectus. La commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Asian Income Fund

### SUPPLÉMENT 27, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Les commissions de gestion et autres frais du Compartiment seront imputés au capital du Compartiment en vue de maximiser les distributions.

Veuillez consulter la section « Commissions et
frais » dans le Prospectus pour plus d’informations.
- La Valeur liquidative du Compartiment peut faire l’objet d’une volatilité élevée en raison de sa politique d’investissement.
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Newton Investment Management Limited

#### Gestionnaire de portefeuille délégué
Le Gestionnaire de portefeuille peut déléguer certaines ou la totalité de ses fonctions de gestion
d’investissement eu égard au présent Compartiment à
Newton Investment Management North America LLC (le
« Gestionnaire de portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique « Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée occasionnellement par les Administrateurs, à condition
que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR A (Cap.) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| USD A (Cap.) | USD | 5 000 | 5 % | 2,00 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 2,00 % | 0 % |
| Sterling A (Cap.) | GBP | 5 000 | 5 % | 2,00 % | 0 % |
| Sterling A (Dist.) | GBP | 5 000 | 5 % | 2,00 % | 0 % |
| CHF A (Cap.) | CHF | 5 000 | 5 % | 2,00 % | 0 % |
| CHF A (Dist.) | CHF | 5 000 | 5 % | 2,00 % | 0 % |
| Euro H (Cap.) (couverte) | EUR | 5 000 | 5 % | 2,00 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Euro H (Dist.) (couverte) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| SGD H (Cap.) (couverte) | SGD | 5 000 | 5 % | 2,00 % | 0 % |
| SGD H (Dist.) (couverte) | SGD | 5 000 | 5 % | 2,00 % | 0 % |

| Actions « B » et Actions « J (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD B (Cap.) | USD | 10 000 | 5 % | 1,50 % | 0 % |
| Euro J (Dist.) (couverte) | EUR | 10 000 | 5 % | 1,50 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Cap.) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Dist.) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Sterling C (Cap.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling C (Dist.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro C (Cap.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| CHF C (Cap.) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % |
| CHF C (Dist.) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| SGD I (Cap.) (couverte) | SGD | 5 000 000 | 5 % | 1,00 % | 0 % |
| SGD I (Dist.) (couverte) | SGD | 5 000 000 | 5 % | 1,00 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Cap.) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| CHF W (Dist.) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| SGD W (Cap.) (couverte) | SGD | 15 000 000 | 5 % | 0,75 % | 0 % |
| SGD W (Dist.) (couverte) | SGD | 15 000 000 | 5 % | 0,75 % | 0 % |

| Actions « X » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Sterling X (Cap.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Cap.) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Dist.) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
L’objectif du Compartiment est d’assurer un revenu aux investisseurs et une éventuelle croissance du capital à long terme.

##### Politique d’investissement
Le Compartiment cherche à atteindre son objectif d’investissement en investissant principalement (à savoir, au minimum les deux tiers de sa Valeur liquidative) dans
un portefeuille d’actions et titres apparentés dans la région d’Asie-Pacifique, notamment l’Australie et la Nouvelle-Zélande (à l’exclusion du Japon).
Les actions et titres apparentés dans lesquels le Compartiment peut investir directement, ou indirectement par les IFD, comprennent les actions, bons de souscription, actions privilégiées, certificats représentatifs de titres américains (« ADR »), certificats représentatifs de titres internationaux (« GDR ») (collectivement, « certificats représentatifs de titres »), titres hybrides (tels que les obligations convertibles, notamment les obligations à conversion obligatoire),
sociétés d’investissement immobilier (« REIT ») et actions
privilégiées convertibles (ci-après « Actions et titres
apparentés »).
Le Compartiment peut investir au total jusqu’à 10 % de sa Valeur liquidative dans des organismes de placement collectif (« OPC »), y compris des fonds monétaires à des
fins de gestion de liquidité. Les OPC dans lesquels le Compartiment peut investir incluent les ETF. Tout investissement dans des ETF sera conforme aux limites de placement dans des OPC. Initialement, les OPC ne
seront utilisés qu’à des fins de gestion de liquidité. Cependant, des OPC peuvent également être utilisés pour obtenir une exposition aux actions régionales.
Le Compartiment envisage d’investir dans des Actions et titres apparentés de sociétés situées ou obtenant une
partie prépondérante de leurs revenus dans la région d’Asie-Pacifique, notamment l’Australie et la Nouvelle- Zélande (à l’exclusion du Japon), sans industrie ou secteur de prédilection particulier ; toutefois, le
Compartiment peut parfois concentrer ses
investissements dans des industries ou secteurs géographiques particuliers en fonction de l’opportunité d’investissement identifiée par le Gestionnaire de portefeuille. Le Compartiment peut investir plus de 20 %
de sa Valeur liquidative dans des pays émergents, y compris la Chine et l’Inde, mais ne construira pas d’exposition à la Russie. Le Compartiment peut acquérir une exposition à la Chine moyennant l’achat d’actions chinoises de catégorie H cotées ou négociées à la Bourse de Hongkong, d’actions chinoises de catégorie B cotées ou négociées à la Bourse de Shanghai ou de Shenzhen ou d’actions chinoises de catégorie A par le biais du Stock Connect. Le Compartiment peut investir jusqu’à 20 % de sa Valeur liquidative dans des actions chinoises de classe
A par le biais du Stock Connect. Le programme Stock Connect est présenté plus en détail dans l’Annexe V du Prospectus. Le Compartiment peut acquérir une
exposition en Inde de manière directe ou par le biais de Certificats représentatifs de titres. Tous les accords de licences locales et de délégation de dépositaires concernés sont désormais en place afin de permettre au
Compartiment d’acquérir une exposition directe au
marché indien.
À l’exception des investissements autorisés dans des titres non cotés et des OPC autres que des ETF, les
investissements du Compartiment seront cotés ou négociés sur les Marchés éligibles énumérés à l’Annexe II du Prospectus.

##### Gestion de la liquidité et des garanties
Le Compartiment peut également détenir des niveaux élevés d’actifs liquides et quasi liquides dans certaines circonstances. Il se peut, par exemple, que les conditions du marché nécessitent une stratégie d’investissement défensive, mais le Compartiment peut également détenir
du numéraire en dépôt en attente de réinvestissement, pour financer le rachat d’actions ou le paiement de frais et de dividendes ou afin de fournir des garanties pour les contrats d’IFD. Les actifs quasi liquides peuvent inclure des instruments du marché monétaire (tels que des obligations d’État à court terme, certificats de dépôt, billets de trésorerie et dépôts à terme) et des dépôts
bancaires. De tels titres de créance peuvent être émis par des gouvernements ou des entreprises, à taux fixe ou variable, et il est prévu que les émetteurs et/ou garants de tous ces titres et instruments aient une notation de
crédit, au moment de l’achat, au moins égale à A1/P1 (ou
son équivalent) publiée par une Agence de notation reconnue, ou soient jugés être d’une qualité équivalente par le Gestionnaire de portefeuille.

##### Indice de référence
L’indice FTSE Asia Pacific ex Japan TR Index (l« Indice de référence »).
L’Indice comprend des actions de sociétés à forte et moyenne capitalisation couvrant les marchés développés et les marchés émergents « avancés » en Asie-Pacifique
à l’exclusion du Japon.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que le Gestionnaire de portefeuille a tout pouvoir pour investir
en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement. Bien que les avoirs du Compartiment puissent inclure des composantes de l’Indice de référence, la sélection des
placements et leurs pondérations dans le portefeuille ne sont pas influencées par celles de l’Indice de référence. La stratégie d’investissement ne restreint pas la mesure dans laquelle le Gestionnaire de portefeuille peut
s’écarter de l’Indice de référence.

##### Stratégie d’investissement
La philosophie d’investissement est basée sur la conviction du Gestionnaire de portefeuille qu’aucune société, aucun marché ni aucune économie ne peuvent
être considérés isolément, chacun de ces éléments devant être examiné dans un contexte global. Le Gestionnaire de portefeuille estime que les événements
qui surviennent dans le monde influent sur tous les marchés financiers et qu’un investissement réussi dans des actions asiatiques implique par conséquent de bien
comprendre le monde dans son ensemble.
Le Gestionnaire de portefeuille identifie les thèmes qui touchent à des changements majeurs au niveau international et les utilise pour étayer ses idées
d’investissement. Le Gestionnaire de portefeuille utilise
une approche thématique mondiale qui lui permet
d’acquérir une perspective à long terme sur les marchés financiers et les économies du monde entier, en gardant toujours une vision d’ensemble. La perspective est une caractéristique essentielle du processus
d’investissement, car elle permet d’anticiper les évolutions à l’échelle mondiale et oriente les analystes et gestionnaires de portefeuille vers les opportunités
rentables. Les différents thèmes cherchent à identifier les principaux domaines de changement structurel dans le monde. Ils permettent de fournir un contexte à
l’analyse des investissements et à la prise de décision et d’aider le Gestionnaire de portefeuille à identifier les domaines présentant des opportunités et des risques d’investissement potentiels. Certains des thèmes à long
terme du Gestionnaire de portefeuille incluent, sans toutefois s’y limiter, la « Dynamique de la population » (c’est-à-dire, l’impact du vieillissement de la population) et « L’importance de la terre » (c’est-à-dire, le développement de solutions de gestion de l’énergie propre et des déchets), l’« Intervention de l’État » (c’est- à-dire, l’incidence sur les prix des actifs de l’évolution
des politiques nationales et des politiques des banques centrales) et la « Révolution intelligente » (c’est-à-dire, la montée en puissance de l’intelligence artificielle et de l’automatisation).
Le Compartiment vise à investir dans des sociétés versant des dividendes et offrant des perspectives de revenus. Les perspectives de revenu et le rendement de chaque société seront jugés par rapport au rendement de
l’Indice de référence à la date de l’achat. La sélection des
actions se concentre sur les sociétés disposant de solides fondamentaux et d’une valorisation intéressante et remplissant les critères de rendement du Gestionnaire de portefeuille s’agissant des objectifs d’investissement du Compartiment dans le but de générer un revenu
associé à une appréciation du capital à long terme. Cela
signifie que le Gestionnaire de portefeuille analyse une action par rapport à son groupe de pairs, l’indice ainsi que les données historiques et le potentiel de gains tout en tentant de détecter les opportunités et d’éviter les écueils. Le Gestionnaire de portefeuille tient également compte de l’historique des dividendes de la société.

##### Règlement sur la publication d’informations en matière de finance durable
La prise en compte du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents, il évalue le risque qu’un événement ou une
condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Le Gestionnaire de portefeuille a accès à diverses catégories de données ESG fournies par des tiers, qui
permettent d’identifier les problèmes ESG potentiels
auxquels un émetteur peut être confronté. Cela inclut, entre autres, l’exposition à des activités pouvant être considérées comme nocives pour l’environnement ou la société. Ces données, ainsi que celles obtenues par le
Gestionnaire de portefeuille dans le cadre de sa propre recherche sur l’investissement responsable, constituent une part importante de la prise en compte et de l’évaluation du niveau de risque en matière de durabilité auquel un investissement peut être soumis.
Cette évaluation est intégrée au processus de recherche au niveau des titres, qui repose sur l’analyse fondamentale des opportunités d’investissement individuelles à travers un certain nombre de facteurs
différents, notamment :
- les caractéristiques financières ou économiques fondamentales ;
- l’évaluation ;
- le profil risque/rendement ; et
- les caractéristiques ESG de l’émetteur, y compris la compréhension de la manière dont cesconsidérations peuvent avoir un impact sur les rendements économiques.

Le Gestionnaire de portefeuille tiendra compte des informations recueillies à partir de l’analyse fondamentale dans sa décision d’acquérir une participation dans une société émettrice ou de conserver
une position donnée.
Comme expliqué ci-dessus, l’évaluation et la gestion des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours
possible qu’un Événement ESG ait une incidence négative importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du régime des principales incidences négatives prévu à
l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire
soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs
de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins
d’investissement :
| Options | Options sur actions (valeur individuelle, indice, secteur, panier personnalisé, y compris options d’achat couvertes) Options sur indices Options sur contrats à terme standardisés d’actions Options sur ETF Options sur contrats à terme standardisés d’actions Options sur devises (y compris options de change) Options sur taux d’intérêt Options sur contrats à terme standardisés de devises |
| --- | --- |
| Contrats à terme stan- dardisés | Contrats à terme standardisés sur indices boursiers Contrats à terme standardisés sur le marché monétaire Contrats à terme standardisés sur devises |
| Contrats à terme | Contrats de change à terme |
| Titres avec IFD intégrés/ effet de levier | Bons de souscription Obligations convertibles Actions privilégiées convertibles |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices financiers suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne
peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices d’actions utilisés pour offrir une exposition aux marchés de titres régionaux et mondiaux de manière plus rentable ou plus efficace que par l’achat de titres physiques. | ASX 200 Index Hang Seng Index KOSPI Index |

Ces indices financiers seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages, les coûts
associés ou la pondération des actions de l’indice
financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

##### Positions longues et courtes
Le Compartiment peut construire des expositions synthétiques longues et synthétiques courtes dans
chacune des classes d’actifs référencées dans la Politique d’investissement pour atteindre son objectif d’investissement. L’exposition longue nette totale (après prise en compte de la couverture) par le biais d’IFD ne
devrait pas dépasser 100 % de la Valeur liquidative du Compartiment et l’exposition nette courte totale ne devrait pas dépasser non plus 100 % de la Valeur liquidative du Compartiment (en utilisant l’approche par les engagements).

#### Enregistrement en Allemagne
Ce Compartiment est enregistré à la vente en Allemagne.
Le Compartiment est classé en tant que Fonds d’investissement aux fins de l’impôt allemand et, à ce titre, il investira en permanence plus de 50 % de ses actifs en actions au sens de l’Article 2, paragraphe 8 de la Loi allemande sur la fiscalité des investissements.

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 100 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 £, 1 €, 1 CHF ou 1 SGD selon la devise de la catégorie concernée (majoré, le cas échéant,
de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables sont fournis aux rubriques
« Annexe III – Gestion des Garanties », « Annexe III –
Recours à des contrats mise/prise en pension et des
accords de prêt de titres », « Gestion efficace de portefeuille » et « Facteurs de risques » du Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés trimestriellement, les
31 décembre, 31 mars, 30 juin et 30 septembre. En ce qui concerne les détenteurs d’Actions de distribution, les dividendes déclarés seront normalement versés au plus
tard le 11 février, le 11 mai, le 11 août et le 11 novembre, respectivement. De plus amples informations sont
disponibles à la section « La Société – Politique de
distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à la rubrique « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Dynamic Total Return Fund

### SUPPLÉMENT 28, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
Ce Compartiment a été clôturé par voie d’un rachat forcé et toutes les Actions en circulation au 26 février 2021 ont
été obligatoirement rachetées. Les Actions du Compartiment ne sont plus disponibles pour
l’investissement. La Société prévoit de déposer une
demande auprès de la Banque centrale afin que l’agrément du Compartiment soit révoqué à la suite de la préparation des états financiers audités pour l’exercice
clôturé le 31 décembre 2021. La Société demandera l’accord de la Banque centrale pour retirer ce Compartiment du présent Prospectus après l’approbation de cette révocation.
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut investir principalement dans des instruments financiers dérivés (« IFD ») et utilisera également ces IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Le Compartiment peut investir, à tout moment, de manière substantielle dans des instruments du marché monétaire ou des dépôts auprès d’établissements de crédit. Même si le Compartiment peut investir dans des instruments du marché monétaire et des dépôts en numéraire, les Actions dans le Compartiment ne sauraient constituer des dépôts et diffèrent des dépôts par nature en ceci que l’investissement n’est pas garanti et que sa valeur est susceptible de fluctuer. Les investissements dans le Compartiment impliquent certains risques d’investissement, dont la perte éventuelle du capital.
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’Heure limite de négociation des demandes de souscription, de rachat ou d’échange est fixée à 17 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les
tableaux ci-après et se différencient par leur devise de référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD A (Cap.) | USD | Jusqu’à 5 % | 5 000 USD | 2,00 % | Aucun(e) |
| USD A (Dist.) | USD | Jusqu’à 5 % | 5 000 USD | 2,00 % | Aucun(e) |
| EUR A (Cap.) | EUR | Jusqu’à 5 % | 5 000 EUR | 2,00 % | Aucun(e) |
| Euro A (Dist.) | EUR | Jusqu’à 5 % | 5 000 EUR | 2,00 % | Aucun(e) |
| Sterling A (Cap.) | GBP | Jusqu’à 5 % | 5 000 GBP | 2,00 % | Aucun(e) |

| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Sterling A (Dist.) | GBP | Jusqu’à 5 % | 5 000 GBP | 2,00 % | Aucun(e) |
| CHF A (Cap.) | CHF | Jusqu’à 5 % | 5 000 CHF | 2,00 % | Aucun(e) |
| CHF A (Dist.) | CHF | Jusqu’à 5 % | 5 000 CHF | 2,00 % | Aucun(e) |
| Euro H (Cap.) (couverte) | EUR | Jusqu’à 5 % | 5 000 EUR | 2,00 % | Aucun(e) |
| Euro H (Dist.) (couverte) | EUR | Jusqu’à 5 % | 5 000 EUR | 2,00 % | Aucun(e) |
| Sterling H (Cap.) (couverte) | GBP | Jusqu’à 5 % | 5 000 GBP | 2,00 % | Aucun(e) |
| Sterling H (Dist.) (couverte) | GBP | Jusqu’à 5 % | 5 000 GBP | 2,00 % | Aucun(e) |
| CHF H (Cap.) (couverte) | CHF | Jusqu’à 5 % | 5 000 CHF | 2,00 % | Aucun(e) |
| CHF H (Dist.) (couverte) | CHF | Jusqu’à 5 % | 5 000 CHF | 2,00 % | Aucun(e) |
| SGD H (Cap.) (couverte) | SGD | Jusqu’à 5 % | 5 000 SGD | 2,00 % | Aucun(e) |
| SGD H (Dist.) (couverte) | SGD | Jusqu’à 5 % | 5 000 SGD | 2,00 % | Aucun(e) |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro C (Cap.) | EUR | Jusqu’à 5 % | 5 000 000 EUR | 1,00 % | Aucun(e) |
| Euro C (Dist.) | EUR | Jusqu’à 5 % | 5 000 000 EUR | 1,00 % | Aucun(e) |
| USD C (Cap.) | USD | Jusqu’à 5 % | 5 000 000 USD | 1,00 % | Aucun(e) |
| USD C (Dist.) | USD | Jusqu’à 5 % | 5 000 000 USD | 1,00 % | Aucun(e) |
| Sterling C (Cap.) | GBP | Jusqu’à 5 % | 5 000 000 GBP | 1,00 % | Aucun(e) |
| Sterling C (Dist.) | GBP | Jusqu’à 5 % | 5 000 000 GBP | 1,00 % | Aucun(e) |
| CHF C (Cap.) | CHF | Jusqu’à 5 % | 5 000 000 CHF | 1,00 % | Aucun(e) |
| CHF C (Dist.) | CHF | Jusqu’à 5 % | 5 000 000 CHF | 1,00 % | Aucun(e) |
| CAD C (Cap.) | CAD | Jusqu’à 5 % | 5 000 000 CAD | 1,00 % | Aucun(e) |
| CAD C (Dist.) | CAD | Jusqu’à 5 % | 5 000 000 CAD | 1,00 % | Aucun(e) |
| Euro I (Cap.) (couverte) | EUR | Jusqu’à 5 % | 5 000 000 EUR | 1,00 % | Aucun(e) |
| Euro I (Dist.) (couverte) | EUR | Jusqu’à 5 % | 5 000 000 EUR | 1,00 % | Aucun(e) |
| Sterling I (Cap.) (couverte) | GBP | Jusqu’à 5 % | 5 000 000 GBP | 1,00 % | Aucun(e) |
| Sterling I (Dist.) (couverte) | GBP | Jusqu’à 5 % | 5 000 000 GBP | 1,00 % | Aucun(e) |
| CHF I (Cap.) (couverte) | CHF | Jusqu’à 5 % | 5 000 000 CHF | 1,00 % | Aucun(e) |
| CHF I (Dist.) (couverte) | CHF | Jusqu’à 5 % | 5 000 000 CHF | 1,00 % | Aucun(e) |
| CAD I (Cap.) (couverte) | CAD | Jusqu’à 5 % | 5 000 000 CAD | 1,00 % | Aucun(e) |
| CAD I (Dist.) (couverte) | CAD | Jusqu’à 5 % | 5 000 000 CAD | 1,00 % | Aucun(e) |
| SGD I (Cap.) (couverte) | SGD | Jusqu’à 5 % | 5 000 000 SGD | 1,00 % | Aucun(e) |
| SGD I (Dist.) (couverte) | SGD | Jusqu’à 5 % | 5 000 000 SGD | 1,00 % | Aucun(e) |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | Jusqu’à 5 % | 5 000 USD | 1,00 % | Aucun(e) |
| USD G (Dist.) | USD | Jusqu’à 5 % | 5 000 USD | 1,00 % | Aucun(e) |
| Euro G (Cap.) | EUR | Jusqu’à 5 % | 5 000 EUR | 1,00 % | Aucun(e) |
| Euro G (Dist.) | EUR | Jusqu’à 5 % | 5 000 EUR | 1,00 % | Aucun(e) |
| Euro G (Cap.) (couverte) | EUR | Jusqu’à 5 % | 5 000 EUR | 1,00 % | Aucun(e) |
| Euro G (Dist.) (couverte) | EUR | Jusqu’à 5 % | 5 000 EUR | 1,00 % | Aucun(e) |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD W (Cap.) | USD | Jusqu’à 5 % | 15 000 000 USD | 0,75 % | Aucun(e) |
| USD W (Dist.) | USD | Jusqu’à 5 % | 15 000 000 USD | 0,75 % | Aucun(e) |
| EUR W (Cap.) | EUR | Jusqu’à 5 % | 15 000 000 EUR | 0,75 % | Aucun(e) |
| EUR W (Dist.) | EUR | Jusqu’à 5 % | 15 000 000 EUR | 0,75 % | Aucun(e) |
| Sterling W (Cap.) | GBP | Jusqu’à 5 % | 15 000 000 GBP | 0,75 % | Aucun(e) |
| Sterling W (Dist.) | GBP | Jusqu’à 5 % | 15 000 000 GBP | 0,75 % | Aucun(e) |
| CHF W (Cap.) | CHF | Jusqu’à 5 % | 15 000 000 CHF | 0,75 % | Aucun(e) |
| CHF W (Dist.) | CHF | Jusqu’à 5 % | 15 000 000 CHF | 0,75 % | Aucun(e) |
| CAD W (Cap.) | CAD | Jusqu’à 5 % | 15 000 000 CAD | 0,75 % | Aucun(e) |
| CAD W (Dist.) | CAD | Jusqu’à 5 % | 15 000 000 CAD | 0,75 % | Aucun(e) |
| Euro W (Cap.) (couverte) | EUR | Jusqu’à 5 % | 15 000 000 EUR | 0,75 % | Aucun(e) |
| Euro W (Dist.) (couverte) | EUR | Jusqu’à 5 % | 15 000 000 EUR | 0,75 % | Aucun(e) |
| Sterling W (Cap.) (couverte) | GBP | Jusqu’à 5 % | 15 000 000 GBP | 0,75 % | Aucun(e) |
| Sterling W (Dist.) (couverte) | GBP | Jusqu’à 5 % | 15 000 000 GBP | 0,75 % | Aucun(e) |
| CHF W (Cap.) (couverte) | CHF | Jusqu’à 5 % | 15 000 000 CHF | 0,75 % | Aucun(e) |
| CHF W (Dist.) (couverte) | CHF | Jusqu’à 5 % | 15 000 000 CHF | 0,75 % | Aucun(e) |
| CAD W (Cap.) (couverte) | CAD | Jusqu’à 5 % | 15 000 000 CAD | 0,75 % | Aucun(e) |
| CAD W (Dist.) (couverte) | CAD | Jusqu’à 5 % | 15 000 000 CAD | 0,75 % | Aucun(e) |
| SGD W (Cap.) (couverte) | SGD | Jusqu’à 5 % | 15 000 000 SGD | 0,75 % | Aucun(e) |
| SGD W (Dist.) (couverte) | SGD | Jusqu’à 5 % | 15 000 000 SGD | 0,75 % | Aucun(e) |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD E (Cap.) | USD | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |
| USD E (Dist.) | USD | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |
| Euro E (Cap.) | EUR | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |
| Euro E (Dist.) | EUR | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |
| Sterling E (Cap.) | GBP | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |
| Sterling E (Dist.) | GBP | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |
| CHF E (Cap.) | CHF | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |
| CHF E (Dist.) | CHF | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |
| CAD E (Cap.) | CAD | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |
| CAD E (Dist.) | CAD | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |
| Euro E (Cap.) (couverte) | EUR | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |
| Euro E (Dist.) (couverte) | EUR | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |
| Sterling E (Cap.) (couverte) | GBP | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |
| Sterling E (Dist.) (couverte) | GBP | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |
| CHF E (Cap.) (couverte) | CHF | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |
| CHF E (Dist.) (couverte) | CHF | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |
| CAD E (Cap.) (couverte) | CAD | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |
| CAD E (Dist.) (couverte) | CAD | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |

| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Cap.) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Dist.) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Cap.) | CAD | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Dist.) | CAD | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Cap.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Dist.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
L’objectif du Compartiment est d’assurer aux investisseurs un rendement total composé de revenu et de croissance du capital à long terme.

##### Politique d’investissement
Le Compartiment est un fonds multi-actifs mondial visant à atteindre son objectif grâce à une allocation d’actifs dynamique. Le Compartiment peut investir dans des
actions, des titres de créances et apparentés (obligations, bons du Trésor, débentures, obligations garanties, titres adossés à des actifs ou à des créances hypothécaires, certificats de dépôt, billets à taux variable, obligations à court et moyen terme, obligations
indexées sur l’inflation et billets de trésorerie) à taux fixe
ou variable, émis ou garantis par un gouvernement
souverain ou ses organismes, des collectivités locales, des organismes supranationaux ou internationaux publics, des banques, des sociétés ou tous autres émetteurs commerciaux (ci-après, les « Titres de créance et apparentés »), dans des devises (contrats de change à terme, swaps de devises et options de change), des prêts non titrisés par investissement direct, des obligations convertibles et bons de souscription (tels que décrits plus en détail ci-dessous) ainsi que des IFD (tel que défini ci-après dans la rubrique « IFD ») et des organismes de placement collectif (« OPC ») (y compris des fonds négociés en Bourse « ETF » et des fonds monétaires). Le Compartiment peut, à certains moments, investir plus de 30 % de sa Valeur liquidative dans des titres de qualité inférieure à investment grade et des titres non notés, tel que déterminé par une Agence de notation reconnue.
Le Compartiment peut également investir indirectement en actifs physiques tels que l’immobilier et les matières premières. L’exposition à l’immobilier se fera par le biais d’IFD et d’OPC, en ce compris des sociétés d’investissement immobilier (« REIT ») cotées en Bourse. L’exposition aux matières premières se fera indirectement par le biais d’ETF et d’IFD (par exemple un
swap de rendement total sur indice de matières premières). Le Compartiment s’exposera uniquement aux indices de matières premières conformes aux exigences des Directives de l’AEMF relatives aux émissions d’ETF et
d’autres OPCVM (telles que modifiées à tout moment),
ainsi que de la Réglementation OPCVM de la Banque
centrale (tel que modifié ou remplacé à tout moment) et
la Note d’orientation de la Banque centrale sur les
« Indices financiers des OPCVM ». Il n’investira jamais
directement dans des matières premières ou dans l’immobilier.
Les ETF (décrits plus en détail à la rubrique « Organismes de placement collectif ») seront, quant à eux, cotés sur des Marchés éligibles et assureront une exposition aux indices des matières premières.
Le Compartiment peut investir à l’échelle mondiale, et ne se concentre pas sur une zone géographique, une
industrie ou un secteur donné(e) pour construire son exposition, aux actions comme aux autres classes
d’actifs. Le Compartiment peut investir plus de 30 % de
sa Valeur liquidative dans des pays émergents.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative au total dans des valeurs mobilières ou des
instruments du marché monétaire qui ne sont pas admis à la cote officielle d’une Bourse des valeurs ni négociés sur un Marché éligible, conformément à la
Réglementation OPCVM, dont, entre autres, des actions ou des Titres de créance et apparentés non cotés.
Bien que sa devise de référence soit l’USD, le Compartiment peut investir dans des actifs non libellés en USD et pas obligatoirement couverts en USD.
À l’exception des investissements autorisés dans des titres non cotés et dans des OPC à capital variable, le
Compartiment investira en général dans un large éventail diversifié de classes d’actifs cotés ou négociés sur des Marchés éligibles situés dans le monde entier. Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des titres cotés ou négociés sur des marchés russes listés à l’Annexe II du Prospectus.
Le Compartiment peut également détenir des quantités importantes de liquidités dans certaines circonstances. Par exemple si les conditions du marché nécessitent une
stratégie d’investissement défensive, ou si le
Compartiment détient du numéraire en dépôt en attente de réinvestissement, pour financer le rachat d’actions et le paiement des frais, ou pour appuyer une exposition à
des IFD.

##### Immobilier
Le Compartiment peut acquérir une exposition à l’immobilier par le biais de titres liés à l’immobilier, par exemple des REIT cotés, des titres de capital de sociétés dont l’activité principale est la détention, la gestion et/ou
la promotion de biens immobiliers ou d’IFD (y compris
des contrats à terme standardisés et des swaps) basés
sur des indices de REIT ou d’autres indices liés à l’immobilier décrits ci-dessus et répondant aux exigences de la Banque centrale.

##### Gestion de la liquidité et des garanties
À des fins de gestion de la liquidité et des garanties, le
Compartiment peut, de temps à autre, investir dans un large éventail d’actifs liquides ou quasi liquides afin de fournir liquidité et couverture aux expositions générées par l’utilisation d’IFD.
Les actifs liquides ou quasi liquides peuvent inclure les Titres de créance et apparentés, les dépôts bancaires et les obligations émises ou garanties par des gouvernements souverains ou leurs agences et des titres, instruments et obligations émis par des organismes
supranationaux ou internationaux de droit public, des banques, des sociétés ou d’autres émetteurs commerciaux. Il est prévu que les émetteurs et/ou
garants de tous ces titres, instruments ou obligations auront une notation de crédit, au moment de l’achat, au moins égale à A1/P1 (ou son équivalent) publiée par une Agence de notation reconnue, ou seront jugés être d’une qualité équivalente par le Gestionnaire de portefeuille.
Le Compartiment peut également investir dans des fonds monétaires, y compris dans des OPCVM irlandais.

##### Organismes de placement collectif
Le Compartiment peut également poursuivre ses objectifs et politiques en prenant des positions dans des OPC, avec un plafond de 10 % de sa Valeur liquidative. Tout investissement dans des ETF à capital variable sera soumis au plafond de 10 % cité ci-dessus, et tout investissement dans des ETF à capital fixe constituera un investissement dans une valeur mobilière conformément aux exigences de la Banque centrale.

##### Indice de référence
Le Compartiment est géré activement, à savoir sans rapport à un indice de référence.

##### Stratégie d’investissement
Le Compartiment utilise une stratégie multi-actifs mondiale avec allocation directe ou indirecte à des actions, titres de créance, devises et investissements alternatifs (tels que des indices de matières premières, des REIT et des IFD, comme décrit à la rubrique
« Utilisation d’IFD » ci-dessous), essentiellement par le
biais de positions longues et de positions courtes
synthétiques sur des IFD. Les positions courtes synthétiques représentent environ 1/3 (un tiers) et les
positions longues environ 2/3 (deux tiers) de l’exposition
globale du Compartiment, mais cette répartition peut
varier de temps à autre. Le Compartiment peut prendre des positions courtes synthétiques sur toute classe
d’actifs décrite dans le présent Supplément (comme
détaillé ci-dessous).
À partir de ce vaste ensemble d’opportunités, le portefeuille est construit à l’aide d’une analyse macroéconomique mondiale descendante et d’une valorisation des classes d’actifs fondamentale ascendante. L’allocation des actifs n’est soumise à
aucune contrainte et ne privilégie aucune classe
particulière. Le Gestionnaire de portefeuille prend des positions longues sur les classes d’actifs relativement bon marché par rapport à leur valorisation fondamentale
et vice versa, à savoir des positions courtes synthétiques sur les classes d’actifs chères par rapport à leur valorisation fondamentale.
Le Compartiment investit dans des titres lui permettant de dégager des rendements totaux similaires à ceux générés par des actions, mais présentant une corrélation et un risque moindre que les actions traditionnelles. De plus, le Compartiment vise à minimiser ses rendements négatifs par rapport à ceux produits par les actions traditionnelles sur un cycle économique complet, grâce à une gestion du risque et un rééquilibrage dynamique du portefeuille.
Le Compartiment peut utiliser des positions courtes synthétiques, un effet de levier et des options essentiellement comme outils pour appliquer une gestion défensive du risque, mais également pour générer des rendements positifs en période de baisse des cours.
Conformément à la stratégie multi-actifs du Compartiment, le Gestionnaire de portefeuille peut
prendre des positions courtes synthétiques sur toute classe d’actifs décrite dans le Supplément, dont, entre autres, des actifs de croissance tels que des indices
boursiers ou des actifs de couverture tels que des obligations souveraines ou des biens immobiliers. Le
Compartiment a l’intention de prendre des positions
courtes sur des sociétés, émetteurs ou marchés pour
lesquels le Gestionnaire de portefeuille décèle une faiblesse par rapport à d’autres sociétés, émetteurs ou marchés plus solides. Il peut également recourir à l’effet de levier à des fins de gestion du risque, par exemple
pour acquérir des positions longues sur des actifs de couverture, tels que des obligations souveraines, afin de
protéger le Compartiment d’un actif à risque à corrélation
négative. Les options peuvent être utilisées comme outil
de gestion défensive du risque afin de limiter le risque de baisse. Pour ce faire, il peut être utile d’acheter des options de vente sur des indices boursiers ou sur des
actifs à risque.
Comme indiqué ci-dessus, le Compartiment peut chercher à construire des positions longues et des positions courtes synthétiques. Une position courte est
créée par la vente d’un actif. Le Compartiment peut
recourir aux contrats à terme standardisés, par exemple,
pour créer une position courte, ou vendre à découvert un titre qu’il ne possède pas, avec l’intention de le racheter à l’avenir. Si le cours de l’actif baisse, la valeur de la position augmente et vice versa. Cette dernière pratique
est appelée « vente à découvert de titres physiques » et la Réglementation OPCVM l’interdit. Afin de lever toute ambiguïté, le Compartiment ne vendra pas de titres
physiques à découvert. La Réglementation OPCVM autorise toutefois la création de positions courtes synthétiques (synthétique, dans ce contexte, signifie
essentiellement que l’on obtient le même résultat
économique sans vente à découvert réelle) par l’utilisation d’IFD. Le Compartiment peut utiliser l’un des instruments figurant ci-dessous à la rubrique
« Utilisation d’IFD » lorsqu’il met en œuvre une stratégie
de positions courtes. La prise de positions courtes peut
servir à couvrir et à contrôler le risque du Compartiment ou à exprimer un point de vue sur l’évolution future du marché. La taille des positions courtes adoptées par le
Compartiment dépendra par conséquent du point de vue du Gestionnaire de portefeuille quant à l’évolution future du marché ou du niveau de risque que le Gestionnaire de
portefeuille souhaite couvrir. La taille des positions courtes sera prise en considération dans le suivi des limites de risque du Compartiment.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants à des fins
d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur devises Contrats à terme standardisés sur indices boursiers Contrats à terme standardisés sur dividendes Contrats à terme standardisés sur taux d’intérêt (y compris à court terme) Contrats à terme standardisés sur obligations Contrats à terme standardisés sur indices de volatilité Contrats à terme standardisés sur indices immobiliers Contrats à terme standardisés sur indices de matières premières Contrats à terme standardisés sur le marché monétaire |
| --- | --- |
| Options | Options sur devises (y compris options à barrière) Options sur actions (valeur individuelle, indice, secteur, panier personnalisé) Options sur indices Options sur dividendes Options sur contrats à terme standardisés de taux d’intérêt Options sur obligations Options sur contrats à terme standardisés sur dividendes Options sur swaps de défaut de crédit Swaptions (y compris swaptions de taux d’intérêt) Options sur contrats à terme standardisés de devises Bons de souscription Options sur contrats à terme standardisés d’actions |
| Contrats à terme | Contrats de change à terme |
| Swaps | Swaps de variance Swaps de rendement d’actions (valeur individuelle, indice, secteur) Swaps de défaut de crédit (sur valeur individuelle, indice) Swaps de dividendes Swaps de taux d’intérêt Swaps de taux d’inflation Swaps de devises Swaps d’actifs Swaps de rendement total (y compris valeur individuelle et crédit) Swaps d’indices immobiliers Swaps d’indices infrastructurels Swaps d’indices de matières premières Contrats sur différence (sur valeur individuelle, secteur) |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

##### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de gestion efficace de portefeuille
(GEP). Le Compartiment utilise les indices financiers suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de matières premières qui permettent au Compartiment, qui ne souhaite pas investir directement dans les matières premières, d’acquérir une exposition à certains segments tels que l’énergie, les métaux industriels, les produits agricoles, les produits de bétail et les métaux précieux. | Bloomberg Commodity Index S&P GSCI Index |
| Indices d’actions utilisés pour offrir une exposition aux marchés de titres régionaux et mondiaux de manière plus rentable ou plus efficace que par l’achat de titres physiques. | AEX Index ASX 200 Index CAC- 40 Index DAX 30 Index Hang Seng Index IBEX 35 Index FTSE 100 Index FTSE MIB Index S&P 500 Index S&P/TSX 60 Index S&P Emerging Markets Index Swiss Markit Index TOPIX |

Ces indices financiers seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages, les coûts
associés ou la pondération des actions de l’indice
financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

##### Positions longues et courtes
Le Compartiment peut construire des expositions
synthétiques longues et synthétiques courtes dans chacune des classes d’actifs référencées dans la Politique d’investissement pour atteindre son objectif d’investissement. L’exposition longue brute totale par le biais d’IFD ne devrait pas excéder 1 000 % de la Valeur liquidative du Compartiment et l’exposition courte brute
totale ne devrait pas excéder 1 000 % de la Valeur
liquidative du Compartiment.

#### Émission d’Actions
L’offre initiale (la « Période d’offre initiale ») pour toutes les catégories d’actions lancées du Compartiment est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 30 avril 2021 ou jusqu’à une date antérieure ou ultérieure à celle où les premières actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre
initiale prendra automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 £, 1 €, 1 CHF, 1 CAD ou 1 SGD selon la devise de la catégorie concernée (majoré, le cas
échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Rachat d’Actions
Les Actions de chaque catégorie pourront être rachetées, à la discrétion de l’Actionnaire concerné, tout Jour d’évaluation à l’Heure d’évaluation. Le Prix de rachat est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation, diminuée de la
commission de rachat applicable.
Toutes les demandes de rachat d’actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Restrictions en matière d’investissement et d’emprunt
Les restrictions en matière d’investissement et d’emprunt du Compartiment sont définies sous la section du Prospectus intitulée « La Société – Restrictions en matière d’investissement et d’emprunt ».
Exposition globale et effet de levier 
Méthodologie de calcul de l’exposition globale : VaR absolue
Limite de VaR absolue : 10 % de la Valeur liquidative du Compartiment (sur la base d’une période de détention de 5 Jours ouvrables)
L’effet de levier brut devrait varier entre : 100 – 2000 % de la Valeur liquidative. L’effet de levier brut peut toutefois dépasser ce niveau cible à certains moments.
Pour plus d’informations sur l’approche de la VaR absolue et l’Effet de levier brut, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de gestion efficace de portefeuille (GEP), sous réserve
des conditions et limites posées par la Réglementation
OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société – Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des opérations de
financement sur titres (« OFT »), soit des accords de prêt
de titres et des accords de mise/prise en pension, comme décrit sous la rubrique « Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et aux OFT correspondent respectivement à 30 % et 100 %
de sa Valeur liquidative. Il n’est toutefois pas prévu que
ces expositions respectives aux TRS et aux OFT excèdent 20 % et 60 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet de TRS seront les titres dont la nature est conforme à la politique d’investissement du Compartiment. Les types d’actifs qui feront l’objet d’accords de prêt de titres et d’accords de mise/prise en
pension seront les actifs dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux sections du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Couverture des catégories d’actions
Ce Compartiment propose des catégories d’actions couvertes. Ces catégories d’actions sont indiquées par le suffixe « (couverte) ». Veuillez consulter la section intitulée « Couverture des catégories d’actions » dans le Prospectus pour plus d’informations sur le fonctionnement et l’impact des catégories d’actions couvertes.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés le 31 décembre de chaque année.
Concernant les détenteurs d’Actions de distribution, les
dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à la rubrique « Gestion et administration de la
Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Global Leaders Fund

### SUPPLÉMENT 29, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci-après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Walter Scott & Partners Limited

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les
tableaux ci-après et se différencient par leur devise de référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR A (Cap.) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| EUR A (Dist.) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| USD A (Cap.) | USD | 5 000 | 5 % | 2,00 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 2,00 % | 0 % |
| Sterling A (Cap.) | GBP | 5 000 | 5 % | 2,00 % | 0 % |
| Sterling A (Dist.) | GBP | 5 000 | 5 % | 2,00 % | 0 % |
| CHF A (Cap.) | CHF | 5 000 | 5 % | 2,00 % | 0 % |
| CHF A (Dist.) | CHF | 5 000 | 5 % | 2,00 % | 0 % |
| EUR H (Cap.) (couverte) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| EUR H (Dist.) (couverte) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| Sterling H (Cap.) (couverte) | GBP | 5 000 | 5 % | 2,00 % | 0 % |
| Sterling H (Dist.) (couverte) | GBP | 5 000 | 5 % | 2,00 % | 0 % |
| CHF H (Cap.) (couverte) | CHF | 5 000 | 5 % | 2,00 % | 0 % |
| CHF H (Dist.) (couverte) | CHF | 5 000 | 5 % | 2,00 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| DKK H (Cap.) (couverte) | DKK | 50 000 | 5 % | 2,00 % | 0 % |
| NOK H (Cap.) (couverte) | NOK | 50 000 | 5 % | 2,00 % | 0 % |
| SEK H (Cap.) (couverte) | SEK | 50 000 | 5 % | 2,00 % | 0 % |

| Actions « B » et Actions « J (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR B (Cap.) | EUR | 10 000 | 5 % | 1,50 % | 0 % |
| EUR B (Dist.) | EUR | 10 000 | 5 % | 1,50 % | 0 % |
| USD B (Cap.) | USD | 10 000 | 5 % | 1,50 % | 0 % |
| USD B (Dist.) | USD | 10 000 | 5 % | 1,50 % | 0 % |
| AUD B (Cap.) | AUD | 10 000 | 5 % | 1,50 % | 0 % |
| CAD B (Cap.) | CAD | 10 000 | 5 % | 1,50 % | 0 % |
| CNH B (Cap.) | CNH | 100 000 | 5 % | 1,50 % | 0 % |
| HKD B (Cap.) | HKD | 100 000 | 5 % | 1,50 % | 0 % |
| SGD B (Cap.) | SGD | 10 000 | 5 % | 1,50 % | 0 % |
| SGD B (Dist.) | SGD | 10 000 | 5 % | 1,50 % | 0 % |
| SGD J (Cap.) (couverte) | SGD | 10 000 | 5 % | 1,50 % | 0 % |
| EUR J (Cap.) (couverte) | EUR | 10 000 | 5 % | 1,50 % | 0 % |
| AUD J (Cap.) (couverte) | AUD | 10 000 | 5 % | 1,50 % | 0 % |
| CAD J (Cap.) (couverte) | CAD | 10 000 | 5 % | 1,50 % | 0 % |
| CNH J (Cap.) (couverte) | CNH | 100 000 | 5 % | 1,50 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Cap.) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Dist.) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| EUR G (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| EUR G (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR C (Cap.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| EUR C (Dist.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling C (Cap.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling C (Dist.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| CHF C (Cap.) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % |
| CHF C (Dist.) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % |
| EUR I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| EUR I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling I (Cap.) (couverte) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Sterling I (Dist.) (couverte) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| CHF I (Cap.) (couverte) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % |
| CHF I (Dist.) (couverte) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Cap.) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Dist.) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| EUR W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| EUR W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Dist.) (couverte) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| AUD W (Cap.) (couverte) | AUD | 15 000 000 | 5 % | 0,75 % | 0 % |
| CAD W (Cap.) (couverte) | CAD | 15 000 000 | 5 % | 0,75 % | 0 % |
| HKD W (Cap.) | HKD | 150 000 000 | 5 % | 0,75 % | 0 % |
| CNH W (Cap.) (couverte) | CNH | 150 000 000 | 5 % | 0,75 % | 0 % |
| SGD W (Cap.) (couverte) | SGD | 15 000 000 | 5 % | 0,75 % | 0 % |
| DKK W (Cap.) (couverte) | DKK | 150 000 000 | 5 % | 0,75 % | 0 % |
| NOK W (Cap.) (couverte) | NOK | 150 000 000 | 5 % | 0,75 % | 0 % |
| SEK W (Cap.) (couverte) | SEK | 150 000 000 | 5 % | 0,75 % | 0 % |

| Actions « U » et Actions « U (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Commission de per- formance | Taux de rendement minimal |
| USD U (Cap.) | USD | 15 000 000 | 5 % | 0,20 % | 0 % | 20 % | MSCI World Index (avec dividendes nets réinvestis) exprimé en USD |
| USD U (Dist.) | USD | 15 000 000 | 5 % | 0,20 % | 0 % | 20 % | MSCI World Index (avec dividendes nets réinvestis) exprimé en USD |
| EUR U (Cap.) | EUR | 15 000 000 | 5 % | 0,20 % | 0 % | 20 % | MSCI World Index (avec dividendes nets réinvestis) exprimé en euros |
| EUR U (Dist.) | EUR | 15 000 000 | 5 % | 0,20 % | 0 % | 20 % | MSCI World Index (avec dividendes nets réinvestis) exprimé en euros |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR E (Cap.) | EUR | Comme convenu | 5 % | 0,50 % | 0 % |
| EUR E (Dist.) | EUR | Comme convenu | 5 % | 0,50 % | 0 % |
| USD E (Cap.) | USD | Comme convenu | 5 % | 0,50 % | 0 % |
| USD E (Dist.) | USD | Comme convenu | 5 % | 0,50 % | 0 % |
| Sterling E (Cap.) | GBP | Comme convenu | 5 % | 0,50 % | 0 % |
| Sterling E (Dist.) | GBP | Comme convenu | 5 % | 0,50 % | 0 % |
| CHF E (Cap.) | CHF | Comme convenu | 5 % | 0,50 % | 0 % |
| CHF E (Dist.) | CHF | Comme convenu | 5 % | 0,50 % | 0 % |
| EUR E (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,50 % | 0 % |
| EUR E (Dist.) (couverte) | EUR | Comme convenu | 5 % | 0,50 % | 0 % |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,50 % | 0 % |
| Sterling E (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,50 % | 0 % |
| CHF E (Cap.) (couverte) | CHF | Comme convenu | 5 % | 0,50 % | 0 % |
| CHF E (Dist.) (couverte) | CHF | Comme convenu | 5 % | 0,50 % | 0 % |

| Actions « X » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| EUR X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Cap.) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Dist.) | CHF | Aucun(e) | 0 % | 0 % | 0 % |


#### Commission de performance
Outre la commission annuelle de gestion, le Gestionnaire sera en droit de percevoir une commission de performance annuelle (la « Commission de
performance ») sous réserve des conditions énoncées ci- dessous. Le taux auquel la Commission de performance sera appliquée est indiqué dans le tableau ci-dessus. La Commission de performance réduit la valeur de votre investissement et le revenu que vous percevez à ce titre.
La Commission de performance relative à chaque catégorie d’actions sera égale à un pourcentage (comme indiqué dans le tableau ci-dessus) du Rendement de la catégorie d’actions (comme défini ci-dessous) dépassant le Taux de rendement minimal (comme défini ci-dessous).
La Commission de performance sera calculée sur une période de douze mois clôturée le 31 décembre (la
« Période de calcul »). La première Période de calcul s’entend de la période débutant le Jour ouvrable qui suit immédiatement la fin de la Période d’offre initiale et se terminant au 31 décembre de la même année.
Le « Rendement de la catégorie d’actions » est calculé chaque Jour d’évaluation et correspond à la différence exprimée en pourcentage entre la Valeur liquidative ajustée ce Jour d’évaluation et la Valeur liquidative ajustée le Jour d’évaluation précédent.
La « Valeur liquidative ajustée » est la Valeur liquidative de la catégorie d’actions concernée (qui comprend un cumul pour l’ensemble des commissions et frais, y
compris la commission annuelle de gestion et les frais d’exploitation et administratifs à la charge de la catégorie d’actions concernée, après ajustement selon les éventuelles distributions de dividendes), mais sans
déduction pour toute Commission de performance courue depuis le début de la Période de calcul.
Le « Taux de rendement minimal » est indiqué dans le
tableau ci-dessus et est cohérent avec la politique d’investissement du Compartiment. Un taux de rendement minimal désigne donc le taux de rendement minimal qu’un fonds doit dépasser pour percevoir une commission de performance. Les performances passées du Compartiment par rapport à l’indice MSCI World NR Index sont indiquées dans le DICI de la catégorie d’actions concernée.
Le « Taux de rendement minimal » est calculé chaque Jour d’évaluation en prenant la différence, en pourcentage, entre le Taux de rendement minimal du Jour d’évaluation et celui du Jour d’évaluation précédent.
Chaque Jour d’évaluation, une Valeur liquidative ajustée est calculée pour chaque catégorie d’actions à laquelle s’applique la Commission de performance. Si le Rendement de la catégorie d’actions dépasse le Taux de
rendement minimal, une Commission de performance est
due.
Si le Rendement de la catégorie d’actions n’excède pas le Taux de rendement minimal, la Commission de performance courue est réduite (mais ne peut pas être
inférieure à zéro). La Commission de performance est réduite d’un montant égal au pourcentage de la commission de performance (comme défini dans le
tableau ci-dessus) de la sous-performance du Rendement de la catégorie d’actions par rapport au Taux de rendement minimal (le rendement négatif) multiplié
par les Actions émises. Si la Commission de performance courue est réduite à zéro, aucune nouvelle Commission de performance ne sera due tant que (i) le Rendement de
la catégorie d’actions cumulé n’excèdera pas le Taux de
rendement minimal cumulé depuis le début de la Période
de calcul.
Clause de récupération (clawback) : après une Période de
calcul au cours de laquelle aucune Commission de performance n’a été comptabilisée, aucune Commission de performance ne sera due jusqu’à ce que le Rendement de la catégorie d’actions cumulé (depuis le dernier Jour d’évaluation du dernier exercice comptable au cours
duquel une Commission de performance aura été
comptabilisée) dépasse le Taux de rendement minimal cumulé (depuis le dernier Jour d’évaluation du dernier exercice comptable au cours duquel une Commission de
performance aura été comptabilisée).
Si aucune Commission de performance n’a été comptabilisée depuis le lancement d’une catégorie d’actions, aucune Commission de performance ne sera due jusqu’à ce que le Rendement de la catégorie d’actions cumulé (depuis le lancement de cette catégorie d’actions) dépasse le Taux de rendement minimal cumulé depuis le lancement de cette catégorie d’actions.
L’intégration de la Commission de performance dans la Valeur liquidative par Action chaque Jour d’évaluation dépend de l’acceptabilité des souscriptions, rachats,
échanges ou transferts.
Sont incluses dans le calcul de la Commission de performance les plus et moins-values réalisées et latentes à la fin de la période concernée. Ainsi les Commissions de performance peuvent être payées sur des plus-values latentes qui peuvent ne jamais être réalisées.
Une performance positive peut être générée par des mouvements de marché ainsi qu’une gestion active de portefeuille ; ceci peut mener à des situations où une
partie de la Commission de performance est payée sur la base des variations de marché.
Le calcul de la Commission de performance ne peut aucunement être manipulé et doit être vérifié par le Dépositaire.
La Commission de performance est calculée et cumulée chaque Jour d’évaluation et entièrement versée à terme échu, eu égard à chaque Période de calcul. Toute
Commission de performance due sera généralement payée dans les 30 Jours ouvrables suivant la fin de chaque Période de calcul, la date de rachat, la date de
fusion (sous réserve des exigences de la Banque centrale), la date d’expiration de la Convention de gestion de portefeuille ou toute autre date de liquidation ou de cessation d’activité éventuelle de la Société ou du Compartiment.

##### Exemples pour comprendre le calcul de la commission de performance
Veuillez noter que le système de commission de performance permet de prélever une commission de performance dès lors que le Compartiment génère un rendement supérieur à celui du Taux de référence minimal, même si sa performance est globalement négative.
| Jour d’évalua- tion | Valeur liquida- tive ajustée à la fin de la Période de calcul | Taux de rendement mi- nimal exprimé en pence | Rendement ex- cédentaire ex- primé en pence* | Commission de performance** | Valeur liquida- tive à la fin de la Période de calcul | Exemple |
| --- | --- | --- | --- | --- | --- | --- |
| 31 décembre (premier exer- cice) | 105 p | 102 p | 3 p | 0,6 p | 104,4 p | La performance sur la Période de calcul a donné lieu à une Valeur liquidative ajustée de 105 pence à la fin du premier exercice, dépassant ainsi le Taux de rendement minimal établi à 102 pence et impliquant un Rendement excédentaire positif de 3 pence. Par conséquent, une commission de performance de 0,60 p a été payée. |

| Jour d’évalua- tion | Valeur liquida- tive ajustée à la fin de la Période de calcul | Taux de rendement mi- nimal exprimé en pence | Rendement ex- cédentaire ex- primé en pence* | Commission de performance** | Valeur liquida- tive à la fin de la Période de calcul | Exemple |
| --- | --- | --- | --- | --- | --- | --- |
| 31 décembre (deuxième exer- cice) | 95 p | 106 p | 0 p | 0 p | 95 p | La performance sur la Période de calcul a donné lieu à une Valeur liquidative ajustée de 95 p à la fin du deuxième exercice, soit un niveau inférieur au Taux de rendement minimal établi à 106 p. Par conséquent, aucune commission de performance n’a été payée. |
| 31 décembre (troisième exer- cice) | 104 p | 105 p | 0 p | 0 p | 104 p | La performance sur la Période de calcul a donné lieu à une Valeur liquidative ajustée de 104 p à la fin du troisième exercice, soit un niveau inférieur au Taux de rendement minimal établi à 105 p. Par conséquent, aucune commission de performance n’a été payée. |
| 31 décembre (quatrième exer- cice) | 110 p | 108 p | 2 p | 0,40 p | 109,6 p | La performance sur la Période de calcul a donné lieu à une Valeur liquidative ajustée de 110 p à la fin du quatrième exercice, dépassant ainsi le Taux de rendement minimal établi à 108 p et impliquant un Rendement excédentaire positif de 2 p. Par conséquent, une commission de performance de 0,40 p a été payée. |

*Le Rendement excédentaire correspond à la surperformance du Rendement de la catégorie d’actions par rapport au Taux de rendement minimal
** 20 % de Rendement excédentaire

#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à assurer une croissance du capital à long terme.

##### Politique d’investissement
Le Compartiment investit essentiellement (c’est-à-dire au moins trois quarts de sa Valeur liquidative) dans des
actions et titres apparentés (actions ordinaires et privilégiées, certificats représentatifs de titres américains et certificats représentatifs de titres internationaux, titres convertibles ou échangeables en actions) émis par des sociétés à forte capitalisation réparties dans le monde entier. Les sociétés à forte capitalisation désignent généralement des sociétés ayant une valeur de capitalisation boursière supérieure à 10 milliards de
dollars au moment de l’achat. Cependant, le seuil de
capitalisation boursière minimum pour le Compartiment
reste à la discrétion du Gestionnaire de portefeuille.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans d’autres organismes de placement collectif (« OPC ») à capital variable. Les investissements
dans des OPC peuvent être utilisés à des fins de gestion de liquidité (par exemple via des fonds monétaires) ou pour offrir une exposition aux actions ou titres
apparentés indiqués dans la politique d’investissement décrite ci-dessus. Le Compartiment peut détenir des actifs liquides à titre accessoire, tels que des dépôts
bancaires.
Le Compartiment investit à l’échelle mondiale et, bien qu’il n’ait pas d’orientation géographique, industrielle ou sectorielle privilégiée, il peut parfois se concentrer sur
une industrie ou des secteurs particuliers, dont les pays émergents et les États-Unis. Le Compartiment peut
investir plus de 20 % de sa Valeur liquidative dans des pays émergents, et aucune limite d’investissement n’est imposée pour ces actifs. Lesdits pays émergents
pourront comprendre, sans que cette liste soit limitative, le Brésil, le Chili, la Colombie, le Mexique, le Pérou, la
République tchèque, l’Égypte, la Grèce, la Hongrie, la Pologne, le Qatar, la Russie, l’Afrique du Sud, la Turquie, les Émirats arabes unis, la Chine, l’Inde, l’Indonésie, la Corée, la Malaisie, le Pakistan, les Philippines, Taiwan et
la Thaïlande.
Le Compartiment peut utiliser des IFD, comme stipulé à la section du Prospectus intitulée « Gestion efficace de portefeuille », à des fins de couverture et de gestion efficace de portefeuille uniquement.
En règle générale, le Compartiment sera exposé aux fluctuations de cours des devises qui découlent de ses
investissements dans des actions et titres apparentés. Étant donné qu’il ne cherche pas à augmenter la valeur
des actifs en spéculant sur les devises, le Gestionnaire
de portefeuille ne couvrira généralement pas le Compartiment contre l’exposition de change. Néanmoins, il contrôlera et révisera l’exposition aux devises
régulièrement et se couvrira contre le risque de change quand il percevra que l’exposition de change présente un risque important.

##### Indice de référence
L’indice MSCI World NR Index (l’« Indice de référence »). L’Indice de référence est un vaste indice boursier mondial conçu pour représenter la performance des titres à
capitalisation forte ou moyenne dans les 23 pays développés suivants : Allemagne, Australie, Autriche, Belgique, Canada, Danemark, Espagne, États-Unis
d’Amérique, Finlande, France, Hong Kong, Irlande, Israël,
Italie, Japon, Nouvelle-Zélande, Norvège, Pays-Bas,
Portugal, Royaume-Uni, Singapour, Suède et Suisse. L’Indice de référence couvre approximativement 85 % de la capitalisation boursière ajustée du flottant dans
chaque pays.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour investir en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement.
Bien que les avoirs du Compartiment puissent inclure des composantes de l’Indice de référence, la sélection des placements et leurs pondérations dans le portefeuille ne sont pas influencées par celles de l’Indice de référence.
La stratégie d’investissement ne restreint pas la mesure
dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.

##### Stratégie d’investissement
La Stratégie d’investissement du Compartiment consiste à atteindre une croissance du capital à long terme essentiellement à l’aide un portefeuille concentré d’actions et titres apparentés, axé sur des sociétés à
forte capitalisation réparties dans le monde entier.
La philosophie et le processus d’investissement sont conformes au cadre philosophique existant du
Gestionnaire de portefeuille : une approche d’investissement à long terme basée sur l’analyse ascendante et rigoureuse des sociétés dans le but de
détecter celles qui bénéficient de perspectives supérieures de création de profit. Cette démarche reflète une conviction fondamentale selon laquelle, avec le
temps, le retour sur investissement d’un portefeuille n’excède jamais la plus-value créée par les sociétés
sous-jacentes. En conséquence, l’équipe de recherche du
Gestionnaire de portefeuille doit se concentrer sur la
détection des sociétés capables de créer des richesses conformément à l’objectif d’investissement du portefeuille.
Vu la nature concentrée de la Stratégie d’investissement, il est nécessaire d’avoir un degré de confiance élevé en ce qui concerne les sociétés à forte capitalisation qui font partie du portefeuille. En particulier, si l’on considère qu’une société est considérée comme un « leader mondial », deux critères clés influenceront le processus
de constitution du portefeuille. En premier lieu, le Gestionnaire de portefeuille prévoit de se concentrer sur
les sociétés à forte capitalisation bénéficiant d’une
position forte ou de leader sur les marchés où la société est active et d’un modèle de gestion qui vise à soutenir cette position grâce à un avantage concurrentiel. En
second lieu, le Gestionnaire de portefeuille a pour
objectif de détecter les secteurs industriels de l’économie mondiale affichant des perspectives d’expansion convaincantes et de sélectionner une ou des sociétés au sein de ces secteurs industriels avec une
position forte ou de leader sur le marché. Par conséquent, le processus de Stratégie d’investissement pour la constitution du portefeuille n’est pas uniquement axé sur la sélection des sociétés leaders de leur secteur
qui présentent un avantage concurrentiel, mais aussi sur
celles qui opèrent au sein de secteurs industriels affichant des perspectives d’expansion mondiale convaincantes.
Ce Compartiment tablant sur le long terme, les actions et
titres apparentés du portefeuille sont supposés être détenus avec un horizon de placement de l’ordre de
3 à 5 ans. Le taux de rotation des titres du portefeuille
restera faible tout au long de la vie du Compartiment, étant donné qu’il fait partie intégrante de la procédure du Gestionnaire de portefeuille, comme décrit ci-dessus. À ce titre et bien qu’il pourrait en faire bénéficier les investisseurs, le Gestionnaire de portefeuille ne
cherchera pas particulièrement à générer de plus-values à court terme.

##### Règlement sur la publication d’informations en matière de finance durable
La gestion du risque en matière de durabilité fait entièrement partie du processus mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque
en matière de durabilité associé aux investissements sous-jacents, il évalue le risque qu’un événement ou une condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Lorsque le Gestionnaire de portefeuille effectue des recherches sur une entreprise, quels que soient son emplacement géographique et son secteur, il applique le même cadre analytique. Ce cadre est à la fois quantitatif
et qualitatif et implique l’analyse des données financières
historiques ainsi que la considération de sept axes de
recherche clés :
- activités commerciales et présence physique
- intégrité, durabilité et gouvernance
- caractéristiques du marché
- prise en main de l’avenir
- profil financier
- direction et conseil d’administration
- valorisation et négociationL’analyse des pratiques en matière d’intégrité, de durabilité et de gouvernance effectuée par le Gestionnaire de portefeuille comprend l’évaluation et le suivi des entreprises à l’égard de facteurs pertinents etimportants dans quatre domaines clés :
- considérations environnementales
- risque et changement climatiques
- capital humain et social
- gouvernanceCe processus permet au Gestionnaire de portefeuille d’examiner tous les facteurs susceptibles d’affecter la réussite à long terme d’une entreprise avant d’investir. S’inscrivant dans le cadre de l’évaluation continue que le Gestionnaire de portefeuille mène auprès desentreprises, ce processus est mis à jour, révisé et discuté chaque année, et fait ainsi l’objet d’une surveillance au fil du temps.

Bien que toutes les études de recherche appartiennent au Gestionnaire de portefeuille, elles sont complétées par des informations et des analyses provenant de sources externes, y compris des prestataires de recherche tiers, des universitaires et des spécialistes. Le dialogue régulier
que le Gestionnaire de portefeuille entretient avec la direction contribue également à l’évaluation globale de l’entreprise.
Comme expliqué ci-dessus, la gestion et l’évaluation des risques en matière de durabilité font entièrement partie du processus d’investissement du Gestionnaire de portefeuille. Toutefois, il est toujours possible qu’un
Événement ESG ait une incidence négative importante
sur la valeur du Compartiment.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences
négatives des décisions d’investissement sur les facteurs
de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du
régime en matière de reporting. Le Gestionnaire continue d’analyser les données disponibles qui seraient nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Enregistrement en Allemagne
Ce Compartiment est enregistré à la vente en Allemagne. Le Compartiment est classé en tant que Fonds
d’investissement aux fins de l’impôt allemand et, à ce
titre, il investira en permanence plus de 50 % de ses actifs en actions au sens de l’Article 2, paragraphe 8 de la Loi allemande sur la fiscalité des investissements.

#### Enregistrement à Hong Kong
Ce Compartiment est enregistré à la vente à Hong Kong.

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 50 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés,
options, swaps, contrats sur différence, titres avec IFD intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale.
En utilisant des IFD à des fins de GEP, le Compartiment peut obtenir une exposition indirecte aux indices financiers.
Veuillez consulter la section du Prospectus intitulée « La Société – Gestion efficace de portefeuille » pour de plus amples informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux
OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 £, 1 €, 1 CAD, 1 AUD, 1 CHF, 10 HKD,
10 CNH, 10 DKK, 10 NOK ou 10 SEK, selon la devise de la
catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés le 31 décembre de chaque année.
Concernant les détenteurs d’Actions de distribution, les
dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à la rubrique « Gestion et administration de la
Société – Commissions et frais » du Prospectus. La commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons particulièrement l’attention des investisseurs sur le contenu de la section intitulée
« Facteurs de risque » du Prospectus.

## BNY Mellon Targeted Return Bond Fund

### SUPPLÉMENT 30, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Insight North America LLC

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR A (Cap.) | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| EUR A (Dist.) | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| USD A (Cap.) | USD | 5 000 | 5 % | 1,50 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 1,50 % | 0 % |
| Sterling A (Cap.) | GBP | 5 000 | 5 % | 1,50 % | 0 % |
| Sterling A (Dist.) | GBP | 5 000 | 5 % | 1,50 % | 0 % |
| CHF A (Cap.) | CHF | 5 000 | 5 % | 1,50 % | 0 % |
| CHF A (Dist.) | CHF | 5 000 | 5 % | 1,50 % | 0 % |
| EUR H (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| EUR H (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| Sterling H (Cap.) (couverte) | GBP | 5 000 | 5 % | 1,50 % | 0 % |
| Sterling H (Dist.) (couverte) | GBP | 5 000 | 5 % | 1,50 % | 0 % |
| CHF H (Cap.) (couverte) | CHF | 5 000 | 5 % | 1,50 % | 0 % |
| CHF H (Dist.) (couverte) | CHF | 5 000 | 5 % | 1,50 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR C (Cap.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| EUR C (Dist.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling C (Cap.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling C (Dist.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| CHF C (Cap.) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % |
| CHF C (Dist.) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % |
| EUR I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| EUR I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling I (Cap.) (couverte) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling I (Dist.) (couverte) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| CHF I (Cap.) (couverte) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % |
| CHF I (Dist.) (couverte) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,65 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,65 % | 0 % |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,65 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,65 % | 0 % |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,65 % | 0 % |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,65 % | 0 % |
| CHF W (Cap.) | CHF | 15 000 000 | 5 % | 0,65 % | 0 % |
| CHF W (Dist.) | CHF | 15 000 000 | 5 % | 0,65 % | 0 % |
| EUR W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,65 % | 0 % |
| EUR W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,65 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,65 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,65 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,65 % | 0 % |
| CHF W (Dist.) (couverte) | CHF | 15 000 000 | 5 % | 0,65 % | 0 % |

| Actions « X » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| EUR X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Cap.) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Dist.) | CHF | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
L’objectif du Compartiment est d’assurer aux investisseurs un rendement total composé de revenu et de croissance du capital.

##### Politique d’investissement
Le Compartiment est un fonds multisectoriel, diversifié à l’échelle mondiale qui vise à atteindre son objectif d’investissement en investissant dans un portefeuille d’obligations à taux fixe et/ou variable internationales, souveraines, d’État, d’agences supranationales, d’entreprises, bancaires et autres (y compris les obligations hypothécaires et les obligations d’entreprise) et d’autres titres de créance et apparentés (tels que des
débentures, des billets (y compris des billets émis par des sociétés ou des entités souveraines, à taux fixe et variable, des obligations sans coupon, uniquement à intérêts et uniquement à principal), des créances garanties (y compris des titres adossés à des actifs ou à des créances hypothécaires, des obligations sécurisées, des obligations garanties par des créances et des créances hypothécaires), des paiements en nature, des obligations toggle, des obligations à taux progressif, des participations sur prêts bancaires, des surplus notes, des obligations hybrides (y compris des obligations perpétuelles, des obligations cumulatives et non
cumulatives, des titres privilégiés de fiducies), des certificats d’investissements garantis et des intérêts reportés), dénommés ci-après, les « Titres de créance et
apparentés », et dans des IFD relatifs à ces instruments (comme décrit sous la rubrique « Utilisation d’IFD » ci- dessous), des instruments du marché monétaire (des
billets de trésorerie et des dépôts bancaires), des placements privés (tels que les obligations Reg S et les obligations 144A) et des titres convertibles ou échangeables en actions qui intégreront des IFD et/ou un effet de levier (obligations convertibles et titres convertibles conditionnels (« CoCo »), dont la majorité seront cotés ou négociés sur des Marchés éligibles situés dans le monde entier.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des CoCo. Veuillez consulter la section du Prospectus intitulée « Risque lié aux titres
convertibles conditionnels (« CoCo ») pour plus de détails sur les risques associés aux CoCo.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative en participations sur prêts bancaires non titrisés pour autant que ces instruments constituent des
instruments du marché monétaire normalement négociés sur le marché monétaire, qu’ils soient liquides et qu’il soit possible de déterminer avec précision leur valeur à
tout moment.
Le Compartiment investit à l’échelle mondiale et, bien qu’il n’ait pas d’orientation géographique, industrielle ou sectorielle privilégiée, il peut parfois se concentrer sur
une industrie ou des secteurs particuliers, dont les pays émergents et les États-Unis. Le Compartiment peut investir à hauteur de 40 % de sa Valeur liquidative dans les pays émergents.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des Titres de créance et apparentés en République populaire de Chine (« RPC ») négociés sur le
marché obligataire interbancaire chinois (« CIBM ») via le
programme Bond Connect (décrit plus en détail à l’Annexe VI du Prospectus).
La qualité de crédit et l’échéance des titres concernés n’auront pas d’impact sur les décisions d’investissement prises par le Gestionnaire de portefeuille. Par
conséquent, les investissements du Compartiment ne
seront pas soumis à une notation de crédit minimum et pourront être d’une qualité inférieure à investment grade (à concurrence maximale de 75 %), telle qu’attribuée par une Agence de notation reconnue. Le Compartiment peut
détenir 10 % au maximum de sa Valeur liquidative en titres non notés à condition qu’ils soient jugés être de qualité équivalente par le Gestionnaire de portefeuille.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative au total dans des valeurs mobilières ou des instruments du marché monétaire qui ne sont pas admis
à la cote officielle d’une Bourse des valeurs ni négociés
sur un Marché éligible, conformément à la
Réglementation OPCVM, dont, entre autres, des actions ou des Titres de créance et apparentés non cotés.
Le Compartiment vise à générer un rendement total constitué d’un revenu et d’une croissance du capital de 6 % par an au cours d’un cycle complet du marché (ordinairement un horizon de trois à cinq ans) avant
déduction des commissions. Cependant, le rendement positif ne peut être garanti et une perte de capital peut se produire.

##### Organismes de placement collectif
Le Compartiment peut également investir jusqu’à 10 % de sa Valeur liquidative dans des OPC, y compris des fonds négociés en Bourse à capital variable. Les organismes
dans lesquels le Compartiment investit peuvent également être gérés par le Gestionnaire de portefeuille délégué, le Gestionnaire de portefeuille ou des entités
affiliées à l’un d’entre eux.

##### Indice de référence
Le Compartiment est géré activement, à savoir sans rapport à un indice de référence.

##### Stratégie d’investissement
Le Gestionnaire de portefeuille emploie une approche dynamique et active de gestion de portefeuille impliquant
des investissements dans une large gamme d’instruments à revenu fixe, d’instruments en devises et d’IFD (ainsi que décrit ci-dessus dans la rubrique
« Politique d’investissement » et ci-dessous dans la rubrique « Utilisation d’IFD ») afin de réduire le risque grâce à la diversification et d’améliorer les rendements potentiels. Le processus d’investissement combine une
recherche macroéconomique descendante avec une
approche de sélection de secteurs et de titres ascendante. Le Gestionnaire de portefeuille utilise des techniques de recherche fondamentale exclusives,
complétées de modèles quantitatifs, pour identifier les opportunités d’investissement intéressantes. La constitution du portefeuille est réalisée par les gestionnaires de fonds, dans les limites d’un budget de
risque pour chaque catégorie de risque d’investissement.

##### Règlement sur la publication d’informations en matière de finance durable
La gestion du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents, il évalue le risque qu’un événement ou une
condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Dans le cadre de son processus de recherche de titres ascendant, le Gestionnaire de portefeuille évalue les facteurs environnementaux, sociaux et de gouvernance de chaque investissement du portefeuille afin de déterminer les risques potentiels en matière de
durabilité. Ces facteurs peuvent inclure, sans toutefois s’y limiter, un impact des émetteurs sur l’environnement, y compris les émissions, l’utilisation des sols et les pratiques en matière de déchets, ainsi que les politiques
et pratiques sociales d’un émetteur, dont les questions
relatives aux employés, les pratiques de gestion de la chaîne d’approvisionnement et les politiques relatives aux droits de l’homme. La recherche sur le crédit interne du Gestionnaire de portefeuille inclut des ressources telles
que le score ESG établi par le Gestionnaire de portefeuille, et est complétée par des informations en provenance de tiers, notamment les données et notations ESG de MSCI, les données ESG de Bloomberg, le Guide
d’engagement du Sustainability Accounting Standards
Board (SASB), les rapports des agences de notation de
crédit, les études sell-side et les événements relatifs au secteur concerné. Cette étude des risques en matière de durabilité est prise en compte dans le processus de sélection de titres, de même que la recherche
macroéconomique et l’analyse de crédit menées par le
Gestionnaire de portefeuille.
Le Gestionnaire de portefeuille évalue également les
pratiques de gouvernance des émetteurs par le biais d’une recherche fondamentale, complétée par des évaluations et notations de tiers, notamment en ce qui
concerne de saines structures de direction, les relations avec les employés, la rémunération du personnel et la conformité en matière de fiscalité.
Le Gestionnaire de portefeuille contrôle régulièrement les facteurs de durabilité et les expositions au risque en examinant les rapports de notation ESG de tiers et ceux établis en interne par son équipe.
Comme expliqué ci-dessus, la gestion et l’évaluation des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours possible qu’un Événement ESG ait une incidence négative
importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du régime des principales incidences négatives prévu à
l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire
soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs
de durabilité comme conformes au régime PAI pour le
Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en
Bourse ou de gré à gré suivants, à des fins d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur obligations Contrats à terme standardisés sur taux d’intérêt (y compris à court terme) |
| --- | --- |
| Options | Options sur devises (y compris options à barrière) Options sur contrats à terme standardisés de taux d’intérêt Swaptions (y compris swaptions de taux d’intérêt) Options sur obligations |
| Contrats à terme | Contrats de change à terme |
| Swaps | Swaps de défaut de crédit (sur valeur individuelle, indice) Swaps de taux d’intérêt Swaps de taux d’inflation Swaps de devises Swaps de rendement total (sur valeur individuelle, crédit, indice et panier [dans ce dernier cas, dont les composantes sous-jacentes peuvent être groupées par secteur, territoire ou d’autres caractéristiques]) |
| Titres avec IFD intégrés/ effet de levier | Titres liés à un risque de crédit Valeurs mobilières convertibles (obligations convertibles) Titres convertibles contingents (CoCo) |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices financiers suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne
peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | Markit CDX American Investment Grade High Volatility Index Markit CDX North American Investment Grade Index Markit CDX North American High Yield Index Markit CDX North American High Yield Beta Index Markit CDX Emerging Markets Index Markit CDX Emerging Markets Diversified Index Markit iTraxx Europe Index Markit iTraxx Crossover Index Markit iTraxx Financial Index Markit iTraxx Subordinated Financial Index |
| Indices de taux d’intérêt utilisés pour offrir une exposition aux marchés de taux d’intérêt et exprimer le point de vue des gestionnaires selon lequel la courbe de rendement évoluera dans une direction particulière, d’une manière plus rentable ou plus efficiente qu’avec l’achat de titres physiques. | EURIBOR LIBOR SOFR SONIA |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Les
indices financiers restants seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages,
les coûts associés ou la pondération des actions de l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.
Exposition globale et effet de levier 
Méthodologie de calcul de l’exposition globale : VaR absolue
Limite de VaR absolue : 20 % de la Valeur liquidative du Compartiment (sur la base d’une période de détention de 20 Jours ouvrables)
L’effet de levier brut devrait varier entre : 100 – 2000 % de la Valeur liquidative. L’effet de levier brut peut toutefois dépasser ce niveau cible à certains moments.
Pour plus d’informations sur l’approche de la VaR absolue et l’Effet de levier brut, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des OFT, c’est à
dire des accords de prêt de titres et des accords de
mise/prise en pension, comme décrit sous la rubrique
« Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et aux OFT correspondent respectivement à 10 % et 100 %
de sa Valeur liquidative. Il n’est toutefois pas prévu que
ces expositions respectives aux TRS et aux OFT excèdent 10 % et 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet de TRS et OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 £, 1 € ou 1 CHF selon la devise de la catégorie concernée (majoré, le cas échéant, de la
commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés trimestriellement, les
31 décembre, 31 mars, 30 juin et 30 septembre. En ce qui concerne les détenteurs d’Actions de distribution, les dividendes déclarés seront normalement versés au plus
tard le 11 février, le 11 mai, le 11 août et le 11 novembre, respectivement. De plus amples informations sont
disponibles à la section « La Société – Politique de
distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à la rubrique « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Global Credit Fund

### SUPPLÉMENT 31, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- L’investissement dans le Compartiment ne devrait pas représenter une proportion conséquente d’un portefeuille de placement et pourrait ne pas convenir à tous les investisseurs.
- Le Compartiment peut, dans certains cas exceptionnels, effectuer des investissements importants dans des dépôts auprès d’établissements de crédit. Même si le Compartiment peut investir dans des instruments du marché monétaire et des dépôts en numéraire, les Actions dans le Compartiment ne sauraient constituer des dépôts et diffèrent des dépôts par nature en ceci que l’investissement n’est pas garanti et que sa valeur est susceptible de fluctuer. Les investissements dans le Compartiment impliquent certains risques d’investissement, dont la perte éventuelle du capital.


#### Gestionnaire de portefeuille
Insight Investment Management (Global) Limited
Le Gestionnaire de portefeuille peut déléguer ses fonctions de gestion à un Gestionnaire de portefeuille délégué et/ou désigner un conseiller en investissement délégué pour assurer un service de conseil en investissement conformément aux exigences de la Banque centrale. À la date du présent Supplément, le Gestionnaire de portefeuille a désigné le Gestionnaire de portefeuille délégué indiqué ci-dessous.

#### Gestionnaire de portefeuille délégué
Le Gestionnaire de portefeuille peut déléguer certaines
ou la totalité de ses fonctions de gestion d’investissement eu égard au présent Compartiment à
Insight North America LLC (le « Gestionnaire de portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique
« Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée occasionnellement par les Administrateurs, à condition
que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale
et le niveau des commissions et frais prélevés. Les catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD A (Cap.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD A (Dist.) (Q) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| EUR H (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| EUR H (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| EUR H (Dist.) (couverte) (Q) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling H (Cap.) (couverte) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling H (Dist.) (couverte) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| CHF H (Cap.) (couverte) | CHF | 5 000 | 5 % | 1,00 % | 0 % |
| CHF H (Dist.) (couverte) | CHF | 5 000 | 5 % | 1,00 % | 0 % |
| AUD H (Cap.) (couverte) | AUD | 5 000 | 5 % | 1,00 % | 0 % |
| AUD H (Dist.) (couverte) (Q) | AUD | 5 000 | 5 % | 1,00 % | 0 % |
| CAD H (Cap.) (couverte) | CAD | 5 000 | 5 % | 1,00 % | 0 % |
| CAD H (Dist.) (couverte) (Q) | CAD | 5 000 | 5 % | 1,00 % | 0 % |
| CNH H (Cap.) (couverte) | CNH | 50 000 | 5 % | 1,00 % | 0 % |
| CNH H (Dist.) (couverte) (Q) | CNH | 50 000 | 5 % | 1,00 % | 0 % |
| SGD H (Cap.) (couverte) | SGD | 5 000 | 5 % | 1,00 % | 0 % |
| SGD H (Dist.) (couverte) (Q) | SGD | 5 000 | 5 % | 1,00 % | 0 % |

| Actions « B » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD B (Cap.) | USD | 10 000 | 5 % | 0,75 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 0,50 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 0,50 % | 0 % |
| EUR G (Cap.) (couverte) | EUR | 5 000 | 5 % | 0,50 % | 0 % |
| EUR G (Dist.) (couverte) | EUR | 5 000 | 5 % | 0,50 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 0,50 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 0,50 % | 0 % |
| EUR I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 0,50 % | 0 % |
| EUR I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 0,50 % | 0 % |
| Sterling I (Cap.) (couverte) | GBP | 5 000 000 | 5 % | 0,50 % | 0 % |
| Sterling I (Dist.) (couverte) | GBP | 5 000 000 | 5 % | 0,50 % | 0 % |
| CHF I (Cap.) (couverte) | CHF | 5 000 000 | 5 % | 0,50 % | 0 % |
| CHF I (Dist.) (couverte) | CHF | 5 000 000 | 5 % | 0,50 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,40 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,40 % | 0 % |
| USD W (Dist.) (Q) | USD | 15 000 000 | 5 % | 0,40 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| EUR W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,40 % | 0 % |
| EUR W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,40 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,40 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,40 % | 0 % |
| CAD W (Cap.) (couverte) | CAD | 15 000 000 | 5 % | 0,40 % | 0 % |
| CAD W (Dist.) (couverte) | CAD | 15 000 000 | 5 % | 0,40 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,40 % | 0 % |
| CHF W (Dist.) (couverte) | CHF | 15 000 000 | 5 % | 0,40 % | 0 % |
| AUD W (Dist.) (couverte) (Q) | AUD | 15 000 000 | 5 % | 0,40 % | 0 % |
| CAD W (Dist.) (couverte) (Q) | CAD | 15 000 000 | 5 % | 0,40 % | 0 % |
| HKD W (Dist.) (couverte) (Q) | HKD | 150 000 000 | 5 % | 0,40 % | 0 % |
| CNH W (Dist.) (couverte) (Q) | CNH | 150 000 000 | 5 % | 0,40 % | 0 % |
| SGD W (Dist.) (couverte) (Q) | SGD | 15 000 000 | 5 % | 0,40 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR X (Cap.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| EUR X (Dist.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Cap.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Dist.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Cap.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Dist.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| JPY X (Cap.) | JPY | Aucun(e) | 0 % | 0 % | 0 % |
| JPY X (Dist.) | JPY | Aucun(e) | 0 % | 0 % | 0 % |
| JPY X (Cap.) (couverte) | JPY | Aucun(e) | 0 % | 0 % | 0 % |
| JPY X (Dist.) (couverte) | JPY | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
L’objectif du Compartiment est d’assurer aux investisseurs un rendement total composé de revenu et de croissance du capital.

##### Politique d’investissement
Le Compartiment s’efforce d’atteindre son objectif d’investissement en investissant l’essentiel de sa Valeur liquidative, c’est-à-dire plus de 50 %, dans les marchés du crédit mondiaux. Les actifs restant seront investis
dans des titres de créance et apparentés non liés à un crédit (titres de créance et apparentés émis par des gouvernements, des organismes supranationaux et des organisations publiques internationales), des devises, des actifs liquides et quasi liquides comme décrit ci-dessous.
Le Compartiment peut investir dans des titres de créances et apparentés (obligations, bons du Trésor, débentures, obligations, prêts, titres adossés à des actifs ou à des créances hypothécaires, certificats de dépôt, obligations à taux variable, billets de trésorerie et obligations à court et moyen terme, à taux fixe, flottant ou variable, émis ou garantis par un gouvernement souverain ou ses agences, des collectivités locales, des organismes supranationaux ou internationaux publics, des banques, des sociétés ou tous autres émetteurs commerciaux et des titres convertibles conditionnels
(« CoCo »), dénommés ci-après « Titres de créance et apparentés »).
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des CoCo. Les CoCo dans lesquelles le Compartiment peut investir n’intégreront pas d’IFD et/ou d’effet de levier. Veuillez consulter la section du
Prospectus intitulée « Risque lié aux titres convertibles
conditionnels (« CoCo ») » pour plus de détails sur les risques associés aux CoCo.
Le Compartiment peut aussi investir dans des devises afin de couvrir le portefeuille en USD ou pour générer des
rendements, tel que décrit dans la rubrique« Stratégie d’investissement » ci-dessous.
Le Compartiment acquerra une exposition aux devises en utilisant des IFD et peut acquérir une exposition aux titres de créance et apparentés en utilisant des IFD, tel
que décrit sous la rubrique « Utilisation d’IFD » ci-
dessous.
Les IFD sont utilisés pour adopter des positions longues et des positions courtes synthétiques. Ils peuvent assurer une protection ou des bénéfices découlant des défauts ou des attentes de défaut des émetteurs de créances, et être utilisés pour exprimer des positions sur la direction et la volatilité des Titres de créances et titres apparentés ainsi que des devises.
Sur la base de l’analyse mentionnée dans la section ci- dessous intitulée « Stratégie d’investissement », le Compartiment peut avoir recours à des positions courtes
synthétiques pour :
- arbitrer une exposition longue, c’est-à-dire protéger le niveau de perte que le Compartiment peut subir en cas de perte de valeur d’un titre ou d’un marché auquel il est exposé ;
- exprimer une opinion négative sur l’évolution future d’un marché, d’une classe d’actifs ou d’un émetteur individuel. Par exemple, le Gestionnaire de portefeuille peut penser que la valeur d’un marché, d’une classe d’actifs ou d’un émetteur individuel risque de chuter et la position courte synthétiquesignifiera que le Compartiment profitera de ce mouvement. Ce résultat peut être obtenu, par exemple, en vendant des contrats à termestandardisés sur obligations d’État, en achetant desswaps de défaut de crédit ou en achetant desoptions de vente ; et
- pour exprimer une opinion sur la volatilité d’un marché, d’une classe d’actifs ou d’un émetteur individuel. Par exemple, le Gestionnaire de portefeuille peut penser que le niveau d’un marché, d’une classe d’actifs ou d’un émetteur individuel risque de chuter et la position courte synthétiquesignifiera que le Compartiment profitera de ce mouvement. Ce résultat peut être obtenu en vendant des options.

Alors que l’importance des expositions courtes synthétiques dans le Compartiment varie dans le temps, le Compartiment veillera généralement à maintenir une
exposition positive significative aux marchés du crédit mondiaux.
Le Compartiment peut investir à l’échelle mondiale, et ne se concentre pas sur une zone géographique, une
industrie ou un secteur donné(e) pour construire son exposition à tout titre tel que susmentionné. Cependant, le portefeuille est parfois concentré sur des obligations
émises par des émetteurs dans un nombre limité de pays ou de régions. Cela peut être dû au fait que l’indice de référence du Compartiment a adopté une position
concentrée et que la performance du Compartiment est évaluée par rapport à l’indice de référence ou parce que le Gestionnaire de portefeuille estime qu’une position concentrée sera bénéfique pour le Compartiment. Bien
que le Compartiment ne suive pas l’« Indice de
référence » (tel que défini ci-dessous), il limite la mesure dans laquelle il s’en écarte.
Le Compartiment peut investir plus de 20 % dans des titres de créance des marchés émergents, y compris des
obligations Brady, des euro-obligations souveraines, des obligations d’entreprise, des prêts et des prêts souverains, des bons, billets et obligations du Trésor
locaux, des certificats de dépôt, des billets de trésorerie, des obligations structurées et des titres du marché
monétaire. L’exposition à la dette des marchés émergents
peut également être représentée par des titres de
créance de qualité investment grade.
Les notations de crédit minimums respectives attribuées par une Agence de notation reconnue pour les investissements du Compartiment sont B- (ou son équivalent) pour les titres de créance et apparentés ou au moins BBB- pour les titres adossés à des actifs ou à des créances hypothécaires et les obligations structurées. Dans le cas de trois notations différentes, la notation la plus basse des deux meilleures notations sera déterminante. Dans le cas de deux notations différentes,
la notation la plus basse sera déterminante. En cas d’une
seul notation, celle-ci sera déterminante. Si un instrument n’est pas noté, il doit être de qualité équivalente à celle déterminée par le Gestionnaire de
portefeuille. Tout titre tombant sous la notation minimale requise après l’acquisition sera vendu dans les six mois suivant sa rétrogradation, sauf si la notation a été
relevée durant cette période.
Le Compartiment peut investir jusqu’à 25 % cumulés de sa Valeur liquidative dans des Titres de créance et apparentés de qualité inférieure à investment grade
(notés BB+ ou moins (mais B- ou plus) (ou son équivalent)), tel que déterminé par une Agence de notation reconnue.
Le Compartiment n’investira pas plus de 10 % de sa Valeur liquidative dans des titres émis et/ou garantis par
un seul émetteur souverain dont la qualité est inférieure à investment grade. Afin de lever toute ambiguïté, il est
précisé qu’un émetteur souverain désigne un pays, son
gouvernement ou une autorité publique ou locale.
Le Compartiment peut investir jusqu’à 10 % cumulés de sa Valeur liquidative dans des valeurs mobilières ou des
instruments du marché monétaire qui ne sont pas admis à la cote officielle d’une Bourse des valeurs ni négociés sur un Marché éligible, conformément à la
Réglementation OPCVM, dont, entre autres, des actions ou des Titres de créance et apparentés non cotés.
Le Compartiment peut également investir dans des
liquidités et des actifs liquides ou quasi liquides et, jusqu’à 10 %, dans des organismes de placement collectif (« OPC ») (y compris des fonds négociés en
Bourse (« ETF ») et des fonds monétaires) à des fins de liquidité (tel que décrit ci-dessous) ou d’investissement, lorsque ces OPC présentent une exposition cohérente avec sa propre politique d’investissement.
Bien que sa devise de référence soit l’USD, le Compartiment peut investir dans des actifs non libellés en USD et pas obligatoirement couverts en USD.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des Titres de créance et apparentés en République populaire de Chine (« RPC ») négociés sur le
marché obligataire interbancaire chinois (« CIBM ») via le
programme Bond Connect (décrit plus en détail à l’Annexe VI du Prospectus).

##### Investissements en prêts bancaires
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des participations sur prêts bancaires non titrisés et/ou dans des cessions de prêts, pour
autant que ces instruments constituent des instruments du marché monétaire normalement négociés sur le
marché monétaire, qu’ils soient liquides et qu’il soit
possible de déterminer avec précision leur valeur à tout
moment.

##### Gestion de la liquidité et des garanties
À des fins de gestion de la liquidité et des garanties, le Compartiment peut, de temps à autre, investir dans un
large éventail d’actifs liquides ou quasi liquides afin de
fournir liquidité et couverture aux expositions générées par le biais d’IFD. Dans certains cas exceptionnels (par ex. effondrement du marché ou crise majeure), le Compartiment peut être investi jusqu’à 100 % en actifs liquides ou quasi liquides afin de gérer ses flux de
trésorerie.
Les actifs liquides ou quasi liquides peuvent inclure les Titres de créance et apparentés, les dépôts bancaires et les obligations émises ou garanties par des gouvernements souverains ou leurs agences et des titres, instruments et obligations émis par des organismes supranationaux ou internationaux de droit public, des
banques, des sociétés ou d’autres émetteurs
commerciaux. Il est prévu que les émetteurs et/ou
garants de tous ces titres et instruments auront une notation de crédit, au moment de l’achat, au moins égale à A1/P1 (ou son équivalent) publiée par une Agence de notation reconnue, ou seront jugés être d’une qualité équivalente par le Gestionnaire de portefeuille.
Le Compartiment peut également investir dans des fonds monétaires, y compris des OPCVM irlandais gérés par
Insight Investment Funds Management Limited et à l’aide
des conseils fournis par le Gestionnaire de portefeuille.

##### Organismes de placement collectif
Le Compartiment peut également poursuivre ses objectifs et sa politique d’investissement en prenant des positions dans des OPC, avec un plafond fixé à 10 % de sa Valeur
liquidative.
Tout investissement dans des ETF à capital variable sera soumis au plafond de 10 % cité ci-dessus, et tout investissement dans des ETF à capital fixe constituera un investissement dans une valeur mobilière conformément aux exigences de la Banque centrale.
La notation de crédit minimum des Titres de créance et
apparentés dans lesquels un organisme de placement collectif peut investir au moment de l’achat est B- (ou son équivalent), ou, dans le cas de titres adossés à des
actifs, de titres adossés à des crédits hypothécaires et d’autres instruments liés à un risque de crédit, est BBB- (ou son équivalent), telle qu’attribuée par une Agence de notation reconnue. En cas d’une divergence de notation, la plus basse des deux notations les plus élevées sera
prise en considération.

##### Indice de référence
L’indice Bloomberg Barclays Global Aggregate Credit TR (couvert par rapport au dollar américain) (l’« Indice de référence »).
L’Indice de référence peut être décrit comme la composante de crédit de l’Indice Barclays Global Aggregate, qui fournit une mesure générale des marchés
mondiaux des titres à revenu fixe de qualité investment
grade. La composante de crédit exclut les obligations d’État et les créances titrisées.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour investir en dehors de l’Indice de référence sur la base de son objectif et de sa politique d’investissement.
Cependant, l’Indice de référence couvrant une part importante de l’univers d’investissement, la majorité des participations du Compartiment seront des composantes de l’Indice de référence, mais seront pondérées différemment. La stratégie d’investissement limitera la mesure dans laquelle les participations du portefeuille peuvent s’écarter de l’Indice de référence et, par
conséquent, la mesure dans laquelle le Compartiment peut surclasser l’Indice de référence.

##### Stratégie d’investissement
La stratégie d’investissement du Compartiment est une combinaison de :
- appréhender l’environnement macroéconomique actuel et futur, relativement aux niveaux d’emploi, à l’inflation, aux taux d’intérêt, et à l’éventuel impact de ces facteurs sur les titres de créance etapparentés ainsi que sur les devises. Cette analyse est affinée à l’aide d’un certain nombre de sources d’informations, dont notamment les publications de données économiques, les déclarations des banquescentrales en matière de politique monétaire et l’analyse des données historiques ;et
- l’analyse des différentes classes d’actifs qui composent les investissements du Compartiment, c’est-à-dire le crédit, la dette émergente, les obligations d’État et les devises afin d’évaluer leurpotentiel de création de rendement.

Une fois cette analyse achevée, le Gestionnaire de portefeuille peut décider de l’allocation des actifs du Compartiment, c’est-à-dire du pourcentage des actifs à investir dans les différentes classes d’actifs. Le Gestionnaire de portefeuille peut prendre en
considération des facteurs comme les dépenses et la facilité d’implantation liées aux différentes stratégies d’investissement qu’il pourrait décider de mettre en œuvre et au type d’exposition qu’il pourrait adopter, p. ex., privilégier les IFD ou OPC plutôt que l’achat direct
des actifs.
La sélection des différents titres dans chaque classe d’actifs est effectuée avec la contribution des équipes de crédit, qui sont spécialisées dans des secteurs ou des
industries spécifiques, p. ex., les télécommunications, l’automobile, la technologie, la fabrication et les obligations d’État.

##### Règlement sur la publication d’informations en matière de finance durable
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents du Compartiment, il évalue le risque qu’un
événement ou une condition ESG (« Événement ESG ») ait
une incidence négative importante sur la valeur de ces investissements sous-jacents. Les risques en matière de
durabilité sont inclus dans le programme d’investissement responsable du Gestionnaire de portefeuille et sont gérés en veillant à ce que les décideurs de haut rang soient informés et à l’aide des procédures efficaces de responsabilisation, de transparence et d’application. Lorsque les questions de risque en matière de durabilité sont considérées comme importantes pour les résultats d’investissement, elles
sont intégrées aux processus d’étude préalable. Cette
mesure peut inclure l’évaluation de titres individuels et/ ou l’interaction avec des émetteurs ou des acteurs du marché. Les contrôles internes garantissent une
application permanente des critères de durabilité au Compartiment. Les restrictions ESG, qui comprennent des notations ESG attribuées en interne et des données externes fournies par des tiers, sont destinées à
empêcher ou permettre l’investissement dans des titres
qui répondent à des caractéristiques de durabilité. Ces
contrôles sont codés par rapport au Compartiment et mis à jour à mesure que de nouvelles informations sont reçues et intégrées.
La gouvernance d’entreprise est un facteur de risque clé en matière de durabilité et fait partie du processus de notation des risques ESG interne appliqué à tous les
émetteurs. L’évaluation de la gouvernance d’entreprise
effectuée par le Gestionnaire de portefeuille comprend l’évaluation des pratiques, du comportement, de la rémunération, du contrôle, de la responsabilité et de l’éthique du conseil d’administration ou des controverses le concernant. Le Gestionnaire de portefeuille utilise les
résultats des évaluations ESG, en plus de ses propres
connaissances des structures de gouvernance des émetteurs, pour fixer des priorités d’engagement avec ces derniers. Le Gestionnaire de portefeuille examine ces
risques dans leur ensemble afin de décider si un investissement compense raisonnablement un fonds pour les risques en matière de durabilité encourus à long et court terme. En termes de facteurs sociaux et environnementaux, la méthode de notation ESG interne du Gestionnaire de portefeuille fournit des informations
spécifiques au secteur et à l’émetteur sur des questions
clés. Ce modèle aide le Gestionnaire de portefeuille à
identifier les risques clés auxquels un secteur ou un émetteur spécifique peut être confronté.
Le Compartiment peut générer des performances
inférieures ou se comporter de manière différente par rapport à d’autres fonds comparables qui n’intègrent pas les risques en matière de durabilité dans leurs décisions d’investissement. Par ailleurs, il est toujours possible que sa valeur soit négativement affectée par un Événement
ESG.
Le Gestionnaire a prudemment évalué les exigences du régime des principales incidences négatives prévu à
l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire
soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement
sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du
régime en matière de reporting. Le Gestionnaire continue d’analyser les données disponibles qui seraient nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins
d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur obligations Contrats à terme standardisés sur taux d’intérêt Contrats à terme standardisés sur devises |
| --- | --- |
| Options | Options sur devises Options sur contrats à terme standardisés de taux d’intérêt Options sur obligations Swaptions de défaut de crédit |
| Contrats à terme | Contrats de change à terme |
| Swaps | Swaps de défaut de crédit (« CDS ») (sur valeur individuelle, indice) Swaps de taux d’intérêt Swaps d’inflation Swaps de devises croisées Swaps d’actifs Swaps de rendement total (sur valeur individuelle, crédit, indice et panier [dans ce dernier cas, dont les composantes sous-jacentes peuvent être groupées par secteur, territoire ou d’autres caractéristiques]) |
| Titres avec IFD intégrés/effet de levier | Obligations avec bons de souscription assortis Obligations convertibles |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices financiers suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne
peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | Markit CDX Emerging Markets Index Markit CDX North American High Yield Index Markit CDX North American Investment Grade Index Markit iTraxx Asia Index Markit iTraxx Europe Index Markit iTraxx Senior Financials Index Markit iTraxx Subordinated Financials Index Markit iTraxx Crossover Index |
| Indices de taux d’intérêt utilisés pour offrir une exposition aux marchés de taux d’intérêt et exprimer le point de vue des Gestionnaires de portefeuille selon lequel la courbe de rendement évoluera dans une direction particulière, d’une manière plus rentable ou plus efficiente qu’avec l’achat de titres physiques. | EURIBOR LIBOR SOFR SONIA |
| Indices de swaps de rendement total (« TRS », total return swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficiente qu’avec l’achat de titres physiques. | Markit iBoxx EUR Corporates Index Markit iBoxx EUR Liquid High Yield Index Markit iBoxx GBP Corporates Index Markit iBoxx USD Liquid IG Index Markit iBoxx USD Liquid HY Index Markit iBoxx USD Domestic Corporates Index Markit iBoxx USD Liquid Leveraged Loans Index |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Les
indices financiers restants seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages,
les coûts associés ou la pondération des actions de l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

##### Positions longues et courtes
Le Compartiment peut construire des expositions synthétiques longues et synthétiques courtes dans
chacune des classes d’actifs référencées dans la Politique d’investissement pour atteindre son objectif d’investissement. L’exposition longue nette totale (après prise en compte des opérations de couverture) par le biais d’IFD ne devrait pas dépasser 200 % de la Valeur
liquidative du Compartiment et l’exposition nette courte totale ne devrait pas dépasser 100 % de la Valeur liquidative du Compartiment.
Exposition globale et effet de levier 
Méthodologie de calcul de l’exposition globale : VaR relative
Limite de VaR relative : Le portefeuille du Compartiment ne dépassera pas le double de la VaR d’un portefeuille de référence représentatif (sur la base d’une période de détention de 20 Jours ouvrables).
Indice de référence de la VaR relative : Bloomberg Barclays Global Aggregate Credit Index (couvert par rapport au dollar américain)
L’effet de levier brut devrait varier entre : 50 – 800 % de la Valeur liquidative. L’effet de levier brut peut toutefois dépasser ce niveau cible à certains moments.
Pour plus d’informations sur l’approche de la VaR relative et l’Effet de levier brut, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et Effet de levier » dans le Prospectus.

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des OFT, c’est à
dire des accords de prêt de titres et des accords de
mise/prise en pension, comme décrit sous la rubrique
« Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et aux OFT correspondent respectivement à 30 % et 100 %
de sa Valeur liquidative. Il n’est toutefois pas prévu que
ces expositions respectives aux TRS et aux OFT excèdent 20 % et 30 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet de TRS et OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 £, 1 €, 1 CAD, 1 AUD, 1 CHF, 1 SGD,
10 HKD, 10 CNH ou 100 ¥ selon la devise de la catégorie
concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) portant le suffixe « Q », les dividendes seront normalement déclarés trimestriellement, les
31 décembre, 31 mars, 30 juin et 30 septembre, respectivement, et versés au plus tard les 11 février,
11 mai, 11 août et 11 novembre, respectivement. Dans le cas de toutes les autres catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les
dividendes seront normalement déclarés le 31 décembre de chaque année. Concernant les détenteurs de ces Actions de distribution, les dividendes déclarés leur seront normalement versés au plus tard le 11 février. De plus amples informations sont disponibles à la section
« La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à la rubrique « Gestion et administration de la
Société – Commissions et frais » du Prospectus. La commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Asia Rising Stars Fund

### SUPPLÉMENT 32, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
Ce Compartiment a été clôturé par voie d’un rachat forcé et toutes les Actions en circulation au 2 septembre 2020
ont été obligatoirement rachetées. Les Actions du Compartiment ne sont plus disponibles pour
l’investissement. La Société prévoit de déposer une
demande auprès de la Banque centrale afin que l’agrément du Compartiment soit révoqué à la suite de la préparation des états financiers audités pour l’exercice
clôturé le 31 décembre 2020. La Société demandera l’accord de la Banque centrale pour retirer ce Compartiment du présent Prospectus après l’approbation de cette révocation.
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des instruments financiers dérivés (« IFD ») à des fins de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci-après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée« Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- La Valeur liquidative du Compartiment peut faire l’objet d’une volatilité élevée en raison de sa politique d’investissement.
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
BNY Mellon Asset Management Japan Limited
Le Gestionnaire de portefeuille peut déléguer ses fonctions de gestion de portefeuille à un Gestionnaire de
portefeuille délégué et/ou désigner un conseiller en investissement délégué afin qu’il fournisse des conseils en investissement. À la date du présent Supplément, le Gestionnaire de portefeuille a l’intention de désigner le Gestionnaire de portefeuille délégué indiqué ci-dessous.

#### Gestionnaire de portefeuille délégué
Le Gestionnaire de portefeuille a délégué ses fonctions de gestion des investissements eu égard à la part en actions Asie hors Japon du Compartiment à Maybank Asset Management Singapore Pte Limited (le
« Gestionnaire de portefeuille délégué »), ou tout successeur désigné par le Gestionnaire de portefeuille, conformément aux exigences de la Banque centrale.
Le Gestionnaire de portefeuille délégué fait partie du Maybank Asset Management Group (« MAMG »), la
branche dédiée à la gestion d’actifs de Maybank. Fort de
plus de 30 années d’expérience, MAMG est un pionnier de la gestion d’actifs en Malaisie. MAMG gère des portefeuilles orientés Asie comprenant des actions,
obligations et instruments du marché monétaire pour des entreprises, institutions et établissements financiers,
fonds de pension, compagnies d’assurances y compris les compagnies d’assurance islamique (Takaful) et des clients particuliers par le biais de mandats directs, de
fiducies à participation unitaire et de fonds de gros.
Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés à
l’Annexe A au présent Supplément.

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin, au Japon et à Singapour.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les
tableaux ci-après et se différencient par leur devise de référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR A (Cap.) | EUR | Jusqu’à 5 % | 5 000 EUR | 1,60 % | Aucun(e) |
| Euro A (Dist.) | EUR | Jusqu’à 5 % | 5 000 EUR | 1,60 % | Aucun(e) |
| USD A (Cap.) | USD | Jusqu’à 5 % | 5 000 USD | 1,60 % | Aucun(e) |
| USD A (Dist.) | USD | Jusqu’à 5 % | 5 000 USD | 1,60 % | Aucun(e) |
| Sterling A (Cap.) | GBP | Jusqu’à 5 % | 5 000 GBP | 1,60 % | Aucun(e) |
| Sterling A (Dist.) | GBP | Jusqu’à 5 % | 5 000 GBP | 1,60 % | Aucun(e) |
| CHF A (Cap.) | CHF | Jusqu’à 5 % | 5 000 CHF | 1,60 % | Aucun(e) |
| CHF A (Dist.) | CHF | Jusqu’à 5 % | 5 000 CHF | 1,60 % | Aucun(e) |
| SGD A (Cap.) | SGD | Jusqu’à 5 % | 5 000 SGD | 1,60 % | Aucun(e) |
| SGD A (Dist.) | SGD | Jusqu’à 5 % | 5 000 SGD | 1,60 % | Aucun(e) |
| JPY A (Cap.) | JPY | Jusqu’à 5 % | 500 000 JPY | 1,60 % | Aucun(e) |
| JPY A (Dist.) | JPY | Jusqu’à 5 % | 500 000 JPY | 1,60 % | Aucun(e) |
| EUR H (Cap.) (couverte) | EUR | Jusqu’à 5 % | 5 000 EUR | 1,60 % | Aucun(e) |
| EUR H (Dist.) (couverte) | EUR | Jusqu’à 5 % | 5 000 EUR | 1,60 % | Aucun(e) |
| Sterling H (Cap.) (couverte) | GBP | Jusqu’à 5 % | 5 000 GBP | 1,60 % | Aucun(e) |
| Sterling H (Dist.) (couverte) | GBP | Jusqu’à 5 % | 5 000 GBP | 1,60 % | Aucun(e) |
| CHF H (Cap.) (couverte) | CHF | Jusqu’à 5 % | 5 000 CHF | 1,60 % | Aucun(e) |
| CHF H (Dist.) (couverte) | CHF | Jusqu’à 5 % | 5 000 CHF | 1,60 % | Aucun(e) |
| SGD H (Cap.) (couverte) | SGD | Jusqu’à 5 % | 5 000 SGD | 1,60 % | Aucun(e) |
| SGD H (Dist.) (couverte) | SGD | Jusqu’à 5 % | 5 000 SGD | 1,60 % | Aucun(e) |
| JPY H (Cap.) (couverte) | JPY | Jusqu’à 5 % | 500 000 JPY | 1,60 % | Aucun(e) |
| JPY H (Dist.) (couverte) | JPY | Jusqu’à 5 % | 500 000 JPY | 1,60 % | Aucun(e) |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR W (Cap.) | EUR | Jusqu’à 5 % | 15 000 000 EUR | 0,80 % | Aucun(e) |
| EUR W (Dist.) | EUR | Jusqu’à 5 % | 15 000 000 EUR | 0,80 % | Aucun(e) |
| USD W (Cap.) | USD | Jusqu’à 5 % | 15 000 000 USD | 0,80 % | Aucun(e) |
| USD W (Dist.) | USD | Jusqu’à 5 % | 15 000 000 USD | 0,80 % | Aucun(e) |
| Sterling W (Cap.) | GBP | Jusqu’à 5 % | 15 000 000 GBP | 0,80 % | Aucun(e) |
| Sterling W (Dist.) | GBP | Jusqu’à 5 % | 15 000 000 GBP | 0,80 % | Aucun(e) |
| CHF W (Cap.) | CHF | Jusqu’à 5 % | 15 000 000 CHF | 0,80 % | Aucun(e) |
| CHF W (Dist.) | CHF | Jusqu’à 5 % | 15 000 000 CHF | 0,80 % | Aucun(e) |
| SGD W (Cap.) | SGD | Jusqu’à 5 % | 15 000 000 SGD | 0,80 % | Aucun(e) |
| SGD W (Dist.) | SGD | Jusqu’à 5 % | 15 000 000 SGD | 0,80 % | Aucun(e) |
| JPY W (Cap.) | JPY | Jusqu’à 5 % | 1 500 000 000 JPY | 0,80 % | Aucun(e) |
| JPY W (Dist.) | JPY | Jusqu’à 5 % | 1 500 000 000 JPY | 0,80 % | Aucun(e) |
| EUR W (Cap.) (couverte) | EUR | Jusqu’à 5 % | 15 000 000 EUR | 0,80 % | Aucun(e) |
| EUR W (Dist.) (couverte) | EUR | Jusqu’à 5 % | 15 000 000 EUR | 0,80 % | Aucun(e) |
| Sterling W (Cap.) (couverte) | GBP | Jusqu’à 5 % | 15 000 000 GBP | 0,80 % | Aucun(e) |
| Sterling W (Dist.) (couverte) | GBP | Jusqu’à 5 % | 15 000 000 GBP | 0,80 % | Aucun(e) |
| CHF W (Cap.) (couverte) | CHF | Jusqu’à 5 % | 15 000 000 CHF | 0,80 % | Aucun(e) |
| CHF W (Dist.) (couverte) | CHF | Jusqu’à 5 % | 15 000 000 CHF | 0,80 % | Aucun(e) |
| SGD W (Cap.) (couverte) | SGD | Jusqu’à 5 % | 15 000 000 SGD | 0,80 % | Aucun(e) |
| SGD W (Dist.) (couverte) | SGD | Jusqu’à 5 % | 15 000 000 SGD | 0,80 % | Aucun(e) |
| JPY W (Cap.) (couverte) | JPY | Jusqu’à 5 % | 1 500 000 000 JPY | 0,80 % | Aucun(e) |
| JPY W (Dist.) (couverte) | JPY | Jusqu’à 5 % | 1 500 000 000 JPY | 0,80 % | Aucun(e) |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR X (Cap.) (couverte) | EUR | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| EUR X (Dist.) (couverte) | EUR | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| USD X (Cap.) | USD | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| USD X (Dist.) | USD | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| CHF X (Cap.) (couverte) | CHF | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| CHF X (Dist.) (couverte) | CHF | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| SGD X (Cap.) (couverte) | SGD | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| SGD X (Dist.) (couverte) | SGD | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| JPY X (Cap.) (couverte) | JPY | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| JPY X (Dist.) (couverte) | JPY | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à générer une croissance du capital à long terme en investissant essentiellement dans
un portefeuille d’actions et titres apparentés (comme décrit à la rubrique « Politique d’investissement » ci- dessous) de sociétés asiatiques à faible capitalisation
cotées sur un Marché Éligible.

##### Politique d’investissement
Le Compartiment vise à réaliser son objectif d’investissement en investissant au moins 70 % de sa Valeur liquidative directement ou indirectement dans des
actions et titres apparentés (à savoir des certificats représentatifs de titres américains (« ADR ») et des obligations participatives (« P-Notes ») (notamment les
options à faible prix d’exercice [« LEPO »] et les bons de souscription à faibles prix d’exercice [« LEPW »], comme décrit ci-dessous) de sociétés asiatiques à faible
capitalisation (à savoir des titres inférieurs à 5 milliards d’USD à l’achat, dans des pays comprenant, entre autres, Hong Kong, la Chine, l’Inde, la Corée, la Malaisie, Singapour, l’Indonésie, la Thaïlande, les Philippines, Taïwan, le Vietnam, le Sri Lanka et le Bangladesh, avec
un accent particulier sur le Japon, comme plus
spécifiquement décrit à la rubrique « Stratégie d’investissement » ci-dessous) cotées sur des Marchés éligibles. Le Compartiment peut également investir dans
des ADR cotés ou négociés sur un Marché éligible aux États-Unis afin d’assurer un accès efficace aux titres des marchés asiatiques susmentionnés.
Le Compartiment peut également investir dans les actions A chinoises cotées à la Bourse de Shanghai avec un accès direct via le programme Shanghai-Hong Kong Stock Connect (tel que plus précisément décrit à la rubrique « Stock Connect » en Annexe V au Prospectus).
L’exposition aux actions A chinoises via le programme Shanghai-Hong Kong Stock Connect n’excédera pas 10 % de la Valeur liquidative du Compartiment.
Le Compartiment peut investir plus de 20 % de sa Valeur liquidative dans des pays émergents.
Le Compartiment utilisera des IFD à des fins de gestion efficace de portefeuille et de couverture des catégories
d’actions, comme plus spécifiquement décrit aux
rubriques « Gestion efficace de portefeuille » et
« Couverture des catégorie d’actions » ci-dessous. Ces IFD sont limités aux P-Notes, contrats de change à terme
et contrats à terme non livrables. Le Compartiment n’investira pas plus de 10 % de sa Valeur liquidative dans des organismes de placement collectif (« OPC ») à capital
variable, y compris des fonds monétaires. Un investissement dans un OPC à capital variable peut être utilisé à des fins de gestion de liquidité ou pour offrir une
exposition aux titres énoncés dans la politique d’investissement ci-dessus.
Le Compartiment peut investir sur une année jusqu’à
10 % de sa Valeur liquidative en valeurs mobilières (c.-à-
d. des actions) récemment émises, non cotées ni négociées sur des Marchés éligibles.
Le Compartiment n’a pas l’intention d’initier des positions courtes.

##### Indice de référence
L’indice MSCI AC Asia Small Cap NR Index (l’« Indice de référence »).
L’Indice de référence intègre des faibles capitalisations représentatives des marchés développés et des marchés émergents en Asie. Avec 2 391 composantes, l’Indice de référence couvre approximativement 14 % de la
capitalisation boursière ajustée du flottant dans chaque pays.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que le Gestionnaire de portefeuille a tout pouvoir pour investir
en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement. Bien que les avoirs du Compartiment puissent inclure des composantes de l’Indice de référence, la sélection des
placements et leurs pondérations dans le portefeuille ne sont pas influencées par celles de l’Indice de référence. La stratégie d’investissement ne restreint pas la mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.

##### Stratégie d’investissement
La stratégie d’investissement du Compartiment consiste à investir dans des sociétés asiatiques à faible capitalisation cotées sur des Marchés éligibles d’Asie au moyen d’un processus de sélection de titres actif.
Le Gestionnaire de portefeuille gérera 50 % du portefeuille du Compartiment et mettra essentiellement
l’accent sur les actions à faible capitalisation japonaises,
comme décrit plus en détail ci-dessous. Le Gestionnaire
de portefeuille confie la gestion des 50 % restants du
Compartiment (à savoir la part du portefeuille investie en actions d’Asie hors Japon) à un Gestionnaire de portefeuille délégué.
Le Gestionnaire de portefeuille se concentrera sur les
actions et titres apparentés (tels que décrits à la rubrique « Politique d’investissement » ci-dessus) des sociétés à faible capitalisation japonaises d’une valeur inférieure à 500 milliards de yens à l’achat. La stratégie du Gestionnaire de portefeuille consiste à investir dans un portefeuille d’actions de sociétés à faible capitalisation japonaises d’après une recherche fondamentale des perspectives de bénéfices à moyen et long terme, en insistant sur l’analyse de chaque société. Ce processus d’investissement met l’accent sur l’identification des sociétés convenant à la politique d’investissement du Compartiment (telle que décrite ci- dessous) et vise à générer de l’alpha (un rendement excédentaire), essentiellement par ce processus de
sélection de titres. La stratégie du Gestionnaire de portefeuille consiste à investir dans des sociétés possédant de solides perspectives de croissance à un
prix raisonnable dont le Gestionnaire de portefeuille estime qu’elles ont la capacité de dégager des résultats supérieurs aux attentes du marché à long terme (comme
décrit ci-dessous). Le Gestionnaire de portefeuille analyse généralement les résultats de la société concernée sur une période de 3 ans pour évaluer ses perspectives de croissance, sa valorisation et sa capacité à générer des résultats supérieurs aux attentes du marché à long terme. La majorité des positions de la part du portefeuille du Compartiment gérée par le Gestionnaire de portefeuille présenteront une capitalisation boursière de 500 milliards de yens au maximum. Cette part du portefeuille du Compartiment
comportera normalement moins de 40 titres. Le Gestionnaire de portefeuille n’a pas l’intention de procéder à des allocations par pays ou par région actives
et rééquilibrera régulièrement le portefeuille combiné par rapport à une position neutre (à savoir 50 % en actions japonaises et 50 % en actions hors Japon).
Le Gestionnaire de portefeuille délégué identifie les titres
en fonction de leur pertinence pour la politique d’investissement, telle qu’énoncée ci-dessus, et sélectionne les titres selon une approche ascendante. La
sélection des titres selon une approche ascendante implique de prendre en compte les fondamentaux d’une société de divers points de vue, notamment ses états
financiers et la qualité de sa direction (la stabilité de l’équipe dirigeante et sa capacité à faire croître les bénéfices conformément aux attentes du marché), au moyen d’une recherche fondamentale détaillée. En fonction de la société concernée, cette recherche
fondamentale détaillée peut comprendre une entrevue avec l’équipe dirigeante, une étude de marché et/ou une analyse du modèle d’affaires afin de déterminer les principaux facteurs influant sur le cours du titre
(notamment la valorisation et l’estimation des résultats).
Les deux portefeuilles formeront le portefeuille combiné du Compartiment (la combinaison des parts du portefeuille gérées respectivement par le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué). Le
Gestionnaire de portefeuille surveille le respect des restrictions d’investissement applicables au Compartiment.

#### Émission d’Actions
L’offre initiale (la « Période d’offre initiale ») pour toutes les catégories d’actions lancées du Compartiment est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au
28 février 2020 ou toute date antérieure ou postérieure à
laquelle les premières Actions de la catégorie concernée
sont émises, qui déterminera la clôture automatique de la Période d’offre initiale de cette catégorie d’actions. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment sur le site Internet www.bnymellonim.com.
Les Actions dans chaque catégorie d’actions non lancée disponible seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 £, 1 €, 1 CHF, 1 SGD ou
100 ¥ selon la devise de la catégorie concernée (majoré,
le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Rachat d’Actions
Les Actions de chaque catégorie pourront être rachetées, à la discrétion de l’Actionnaire concerné, tout Jour d’évaluation à l’Heure d’évaluation. Le Prix de rachat est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation, diminuée de la
commission de rachat applicable.
Toutes les demandes de rachat d’actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Restrictions en matière d’investissement et d’emprunt
Les restrictions en matière d’investissement et d’emprunt du Compartiment sont définies sous la section du Prospectus intitulée « La Société – Restrictions en matière d’investissement et d’emprunt ».

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 100 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de gestion efficace de portefeuille (GEP), sous réserve des conditions et limites posées par la Réglementation
OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société – Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des opérations de financement sur titres (« OFT »), soit des accords de prêt de titres, comme décrit ci-dessous à la rubrique du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’accords de prêt de titres seront les actifs dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la
contrepartie sont fournis aux sections du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Couverture des catégories d’actions
Ce Compartiment propose des catégories d’actions couvertes. Ces catégories d’actions sont indiquées par le suffixe « (couverte) ». Veuillez consulter la section intitulée « Couverture des catégories d’actions » dans le Prospectus pour plus d’informations sur le fonctionnement et l’impact des catégories d’actions couvertes.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés le 31 décembre de chaque année.
Concernant les détenteurs d’Actions de distribution, les
dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont
définis à la rubrique « Gestion et administration de la Société – Commissions et frais » du Prospectus. La commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.
Les investisseurs devraient également avoir conscience qu’un investissement en République populaire de Chine ou par le biais du programme Shanghai-Hong Kong Stock
Connect et dans des sociétés à faible capitalisation présente un niveau de risque significatif. Ces risques sont détaillés dans le Prospectus.

#### ANNEXE A
- Convention de délégation de gestion de portefeuille –Maybank Asset Management Singapore.
- En vertu d’une Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire deportefeuille délégué datée 5 du septembre 2016, telle qu’amendée, le Gestionnaire de portefeuille délégué gérera les actifs du Compartiment qui lui sont confiés le cas échéant et à l’entière discrétion du Gestionnaire de portefeuille, sousréserve du contrôle et de la supervision générale du Gestionnaire de portefeuille
- La Convention de délégation de gestion de portefeuille prévoit le paiement des commissions et frais du Gestionnaire de portefeuille délégué par le Gestionnaire de portefeuille.


## BNY Mellon U.S. Equity Income Fund

### SUPPLÉMENT 33, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. L’utilisation d’IFD à des fins d’investissement sera limitée. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Il est proposé que les commissions de gestion et autres commissions et frais du Compartiment soient imputés au capital de ce dernier en vue de maximiser les distributions. Veuillez consulter la section « Commissions et frais » dans le Prospectus pour plus d’informations.
- La Valeur liquidative du Compartiment peut faire l’objet d’une volatilité élevée en raison de sa politique d’investissement.


#### Gestionnaire de portefeuille
Newton Investment Management North America LLC

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR A (Cap.) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| EUR A (Dist.) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| USD A (Cap.) | USD | 5 000 | 5 % | 2,00 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 2,00 % | 0 % |
| Sterling A (Cap.) | GBP | 5 000 | 5 % | 2,00 % | 0 % |
| Sterling A (Dist.) | GBP | 5 000 | 5 % | 2,00 % | 0 % |
| CHF A (Cap.) | CHF | 5 000 | 5 % | 2,00 % | 0 % |
| CHF A (Dist.) | CHF | 5 000 | 5 % | 2,00 % | 0 % |
| EUR H (Cap.) (couverte) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| EUR H (Dist.) (couverte) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| Sterling H (Cap.) (couverte) | GBP | 5 000 | 5 % | 2,00 % | 0 % |
| Sterling H (Dist.) (couverte) | GBP | 5 000 | 5 % | 2,00 % | 0 % |
| CHF H (Cap.) (couverte) | CHF | 5 000 | 5 % | 2,00 % | 0 % |
| CHF H (Dist.) (couverte) | CHF | 5 000 | 5 % | 2,00 % | 0 % |

| Actions « B » et Actions « J (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD B (Cap.) | USD | 10 000 | 5 % | 1,50 % | 0 % |
| USD B (Dist.) | USD | 10 000 | 5 % | 1,50 % | 0 % |
| EUR B (Cap.) | EUR | 10 000 | 5 % | 1,50 % | 0 % |
| EUR B (Dist.) | EUR | 10 000 | 5 % | 1,50 % | 0 % |
| SGD B (Cap.) | SGD | 10 000 | 5 % | 1,50 % | 0 % |
| SGD B (Dist.) | SGD | 10 000 | 5 % | 1,50 % | 0 % |
| AUD B (Cap.) | AUD | 10 000 | 5 % | 1,50 % | 0 % |
| AUD B (Dist.) | AUD | 10 000 | 5 % | 1,50 % | 0 % |
| CAD B (Cap.) | CAD | 10 000 | 5 % | 1,50 % | 0 % |
| CAD B (Dist.) | CAD | 10 000 | 5 % | 1,50 % | 0 % |
| HKD B (Cap.) | HKD | 100 000 | 5 % | 1,50 % | 0 % |
| HKD B (Dist.) | HKD | 100 000 | 5 % | 1,50 % | 0 % |
| CNH B (Cap.) | CNH | 100 000 | 5 % | 1,50 % | 0 % |
| CNH B (Dist.) | CNH | 100 000 | 5 % | 1,50 % | 0 % |
| EUR J (Cap.) (couverte) | EUR | 10 000 | 5 % | 1,50 % | 0 % |
| SGD J (Cap.) (couverte) | SGD | 10 000 | 5 % | 1,50 % | 0 % |
| SGD J (Dist.) (couverte) | SGD | 10 000 | 5 % | 1,50 % | 0 % |
| AUD J (Cap.) (couverte) | AUD | 10 000 | 5 % | 1,50 % | 0 % |
| AUD J (Dist.) (couverte) | AUD | 10 000 | 5 % | 1,50 % | 0 % |
| CAD J (Cap.) (couverte) | CAD | 10 000 | 5 % | 1,50 % | 0 % |
| CAD J (Dist.) (couverte) | CAD | 10 000 | 5 % | 1,50 % | 0 % |
| CNH J (Cap.) (couverte) | CNH | 100 000 | 5 % | 1,50 % | 0 % |
| CNH J (Dist.) (couverte) | CNH | 100 000 | 5 % | 1,50 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| EUR G (Cap.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| EUR G (Dist.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Cap.) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Dist.) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| EUR G (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| EUR G (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Cap.) (couverte) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Dist.) (couverte) | GBP | 5 000 | 5 % | 1,00 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR C (Cap.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| EUR C (Dist.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling C (Cap.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Sterling C (Dist.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| CHF C (Cap.) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % |
| CHF C (Dist.) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % |
| EUR I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| EUR I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling I (Cap.) (couverte) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling I (Dist.) (couverte) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| CHF I (Cap.) (couverte) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % |
| CHF I (Dist.) (couverte) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| EUR W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| EUR W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Cap.) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Dist.) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Dist.) (couverte) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| AUD W (Dist.) (couverte) | AUD | 15 000 000 | 5 % | 0,75 % | 0 % |
| CAD W (Dist.) (couverte) | CAD | 15 000 000 | 5 % | 0,75 % | 0 % |
| HKD W (Dist.) | HKD | 150 000 000 | 5 % | 0,75 % | 0 % |
| CNH W (Dist.) (couverte) | CNH | 150 000 000 | 5 % | 0,75 % | 0 % |
| SGD W (Dist.) (couverte) | SGD | 15 000 000 | 5 % | 0,75 % | 0 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR E (Cap.) | EUR | Comme convenu | 5 % | 0,45 % | 0 % |
| EUR E (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,45 % | 0 % |
| EUR E (Dist.) | EUR | Comme convenu | 5 % | 0,45 % | 0 % |
| EUR E (Dist.) (couverte) | EUR | Comme convenu | 5 % | 0,45 % | 0 % |
| USD E (Cap.) | USD | Comme convenu | 5 % | 0,45 % | 0 % |
| USD E (Dist.) | USD | Comme convenu | 5 % | 0,45 % | 0 % |
| Sterling E (Cap.) | GBP | Comme convenu | 5 % | 0,45 % | 0 % |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,45 % | 0 % |
| Sterling E (Dist.) | GBP | Comme convenu | 5 % | 0,45 % | 0 % |
| Sterling E (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,45 % | 0 % |
| CHF E (Cap.) | CHF | Comme convenu | 5 % | 0,45 % | 0 % |
| CHF E (Cap.) (couverte) | CHF | Comme convenu | 5 % | 0,45 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| CHF E (Dist.) | CHF | Comme convenu | 5 % | 0,45 % | 0 % |
| CHF E (Dist.) (couverte) | CHF | Comme convenu | 5 % | 0,45 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| EUR X (Cap.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| EUR X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| EUR X (Dist.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Cap.) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Cap.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Dist.) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Dist.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
L’objectif du Compartiment est d’assurer aux investisseurs un rendement total maximal composé de revenu et de croissance du capital.

##### Politique d’investissement
Le Compartiment investit essentiellement (c’est-à-dire au moins deux tiers de sa Valeur liquidative) dans des actions et titres apparentés (actions ordinaires et
privilégiées, certificats représentatifs de titres américains et certificats représentatifs de titres internationaux [collectivement, les « Certificats représentatifs de
titres »], sociétés d’investissement immobilier cotées
[« REIT »] et sociétés en commandite principale
[« MLP »]) émis par des « sociétés à forte capitalisation » implantées aux États-Unis. L’expression « sociétés à forte capitalisation » sera entendue comme incluant les titres de sociétés qui, au moment de l’achat, ont une
capitalisation boursière d’au moins 2 milliards de dollars
américains.
Les investissements dans des REIT n’excéderont pas 5 % de la Valeur liquidative du Compartiment. Les investissements dans des MLP n’excéderont pas 5 % de la Valeur liquidative du Compartiment.
Le Compartiment est habilité à investir jusqu’à un tiers de sa Valeur liquidative dans des actions ou titres apparentés de sociétés de toutes tailles (qui seront
cotées ou négociées sur des Marchés éligibles) implantées aux États-Unis, ainsi que dans des actions ou
titres apparentés de sociétés dont le siège social n’est
pas situé aux États-Unis et qui ne réalisent pas la majeure partie de leurs activités économiques dans ce pays.
Le Compartiment n’investira pas dans les pays émergents.
Le Gestionnaire de portefeuille du Compartiment surveille les investissements du Compartiment, y compris la capitalisation boursière des titres du Compartiment, dans le cadre de ses fonctions de gestion de portefeuille du Compartiment. Le Gestionnaire de portefeuille ne vend pas automatiquement un titre si la capitalisation
boursière de ce titre devient inférieure à 2 milliards de dollars américains après l’achat, mais tient compte de facteurs supplémentaires, comme la stratégie d’investissement et la politique d’investissement du
Compartiment, lors d’une telle prise de décision.
Le Compartiment peut également investir jusqu’à 10 % de sa Valeur liquidative dans d’autres organismes de placement collectif (« OPC ») à capital variable, y compris
des fonds négociés en Bourse à capital variable (« ETF »), pour offrir une exposition aux marchés des actions. Les investissements dans des OPC peuvent également être utilisés à des fins de gestion de liquidité (par exemple via des fonds monétaires) ou pour donner une exposition aux actions ou titres apparentés énumérés ci-dessus. Le Compartiment peut détenir des actifs liquides à titre accessoire, tels que des dépôts bancaires.
Le Compartiment n’investit pas dans des ETF à capital fixe.
Le Compartiment peut également acquérir une exposition
aux actions et titres apparentés ayant recours à des IFD, sous réserve d’une limite de 5 % de sa Valeur liquidative dans le cas des bons de souscription, comme décrit sous la rubrique « Utilisation d’IFD ».
Le Compartiment n’a pas l’intention d’initier des positions courtes.
Les investissements du Compartiment seront cotés ou négociés sur des Marchés éligibles. Une liste des
Marchés éligibles est exposée à l’Annexe II du
Prospectus.

##### Indice de référence
L’indice S&P 500 NR Index (l’« Indice de référence »). L’Indice de référence est largement considéré comme le
meilleur indicateur unique des actions américaines à forte capitalisation. Plus de 9 900 milliards d’USD sont indexés ou référencés par rapport à l’indice, les actifs indexés représentant environ 3,4 billions d’USD de ce total. L’indice inclut 500 sociétés leader et couvre
approximativement 80 % de la capitalisation boursière disponible.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour investir en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement.
Cependant, l’Indice de référence couvrant une part importante de l’univers d’investissement, la majorité des
participations du Compartiment seront des composantes de l’Indice de référence. Les pondérations du portefeuille ne seront toutefois pas influencées par celles de l’Indice de référence. La stratégie d’investissement ne restreint pas la mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.

##### Stratégie d’investissement
Le Gestionnaire de portefeuille est convaincu qu’un investissement réussi est possible grâce une philosophie
axée sur la valeur, la recherche et le contrôle du risque, comme expliqué ci-dessous.
Orientation sur la valeur
- Une concentration sur les actions présentant une valorisation intéressante (en identifiant les actions que le Gestionnaire de portefeuille estime valoirdavantage que ce qu’elles valent actuellement sur lemarché) par rapport au marché, au secteur et auxperformances passées.
- L’approche consistant à éviter d’acheter des titres dont le cours continue à baisser en utilisant plusieurs mesures traditionnelles de la valorisation (comme leratio cours/capitaux propres, le ratio cours/valeurcomptable et le ratio cours/flux de trésorerie) et en mettant l’accent sur des sociétés qui connaissent une progression commerciale et s’appuient sur de solides fondamentaux.

Orientation sur la recherche
- La conviction qu’une analyse fondamentale est la meilleure façon d’évaluer la capacité et la volonté d’une société à produire des dividendes et, idéalement, à augmenter ces distributions au fil dutemps.

Contrôle du risque
- Le recours à des contrôles des risques à toutes les étapes du processus de construction du portefeuille du Compartiment afin de minimiser les risques involontaires.
- Mise en place/fixation de cours cibles (à savoir : le meilleur et le pire des cours auxquels l’évolution actuelle et future du cours est comparée) avant d’établir de nouvelles positions.

Afin de mettre en œuvre la politique d’investissement du Compartiment, le Gestionnaire de portefeuille se concentre sur un processus en trois étapes.
Étape 1 : Détermination de l’univers d’investissement Le but de cette étape est d’examiner tous les titres d’actions américaines potentiels en tenant compte du
caractère durable des dividendes et de leur potentiel de
croissance, ainsi que de la valorisation (en identifiant les
actions que le Gestionnaire de portefeuille estime valoir davantage que ce qu’elles valent actuellement sur le marché) et des fondamentaux (qualités de base et informations déclarées nécessaires à l’analyse de la
santé et de la stabilité d’une entreprise) du titre
correspondant. Le Gestionnaire de portefeuille utilise
également des filtres quantitatifs (calculs de valorisation, dynamique bénéficiaire et autres facteurs quantitatifs
d’une action par rapport aux autres) lors de cette étape. Les deux méthodes – fondamentale ou quantitative – permettent d’identifier les titres à prendre éventuellement en considération. Cette première
approche débouche sur une recherche fondamentale plus approfondie qui constitue la deuxième étape.

##### Étape 2 : recherche fondamentale
Une fois sa liste de titres identifiée, le gestionnaire de portefeuille délégué effectue une recherche fondamentale en collaboration avec une équipe de recherche dédiée du Gestionnaire de portefeuille, mais les travaux conduits ne reposent pas sur une seule et
unique approche. La recherche fondamentale s’appuie
également sur les conversations engagées avec la direction d’une entreprise, la construction des modèles financiers (pour aider à prévoir avec précision la valeur
ou la performance future des bénéfices d’une entreprise) et l’examen de documents réglementaires (documents déposés par la société auprès de l’autorité concernée en vertu des exigences légales). L’analyste désigné émet ensuite une recommandation d’achat ou non en fonction
des cours cibles à la hausse/à la baisse (attentes concernant le cours futur d’un titre), des facteurs s’inscrivant dans le cadre de la thèse d’investissement du processus susmentionné (à savoir : valorisation,
fondamentaux, progression commerciale, perspectives relatives au dividende) et des risques potentiels.

##### Étape 3 : construction du portefeuille
Le Gestionnaire de portefeuille a le dernier mot quant à l’ajout ou non d’un titre au portefeuille du Compartiment et à sa pondération spécifique. Les décisions prises lors
de cette dernière étape interviennent en tenant compte du profil de risque global du portefeuille du Compartiment.

##### Règlement sur la publication d’informations ean matière de finance durable
La gestion du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents, il évalue le risque qu’un événement ou une
condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Le Gestionnaire de portefeuille utilise la recherche fondamentale renforcée par l’analyse de données quantitatives afin d’évaluer les facteurs environnementaux, sociaux et de gouvernance de chaque
investissement et de déterminer les risques potentiels en
matière de durabilité. Ces facteurs peuvent inclure, entre autres, l’impact d’un émetteur sur l’environnement, y compris les émissions, l’utilisation des sols et les pratiques en matière de déchets, ainsi que les politiques
et pratiques sociales, dont les questions relatives aux employés, les pratiques de gestion de la chaîne
d’approvisionnement et les politiques relatives aux droits de l’homme. Le Gestionnaire de portefeuille identifie et intègre dans son processus de décision d’investissement les considérations qui influenceront le comportement d’un émetteur ou auront un impact sur les environnements économique, réglementaire, politique,
social ou physique dans lesquels il opère. Le Gestionnaire de portefeuille tire parti de l’analyse fondamentale et des données quantitatives pour obtenir un score ESG obtenu en interne afin d’améliorer la gestion des facteurs de durabilité au sein du Compartiment. Le Gestionnaire de portefeuille effectue une recherche en interne qu’il complète par des informations de tiers, notamment les
données et notations ESG de MSCI, les données ESG de Bloomberg, le Guide d’engagement du Sustainability Accounting Standards Board (SASB), les études sell-side
et les événements relatifs au secteur concerné. Il en résulte un processus de décision d’investissement qui vise à minimiser l’exposition du Compartiment aux sociétés encore à la traîne sur les critères
environnementaux, sociaux et de gouvernance, tout en tenant compte des risques résiduels en matière de durabilité associés aux investissements.
Le Gestionnaire de portefeuille évalue également les pratiques de gouvernance des émetteurs par le biais
d’une recherche fondamentale, complétée par des
évaluations et notations établies en interne ou par des
tiers, notamment en ce qui concerne de saines structures de direction, les relations avec les employés, la rémunération du personnel et la conformité en matière
de fiscalité.
Le Gestionnaire de portefeuille contrôle régulièrement les facteurs de durabilité et les expositions au risque en examinant les rapports de notation ESG de tiers et ceux établis en interne par son équipe.
Comme expliqué ci-dessus, la gestion et l’évaluation des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours possible qu’un Événement ESG ait une incidence négative
importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du régime des principales incidences négatives prévu à
l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire
soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure
actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en
Bourse ou de gré à gré suivants, à des fins d’investissement :
| Options | Options d’achat |
| --- | --- |
| Titres avec IFD intégrés/effet de levier | Bons de souscription Droits de souscription d’actions |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices financiers suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne
peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices d’actions utilisés pour offrir une exposition aux marchés de titres régionaux et mondiaux de manière plus rentable ou plus efficace que par l’achat de titres physiques. | S&P 500 NR Index |

Ces indices financiers seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages, les coûts
associés ou la pondération des actions de l’indice
financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

#### Enregistrement en Allemagne
Ce Compartiment est enregistré à la vente en Allemagne.
Le Compartiment est classé en tant que Fonds d’investissement aux fins de l’impôt allemand et, à ce titre, il investira en permanence plus de 50 % de ses actifs en actions au sens de l’Article 2, paragraphe 8 de la Loi allemande sur la fiscalité des investissements.

#### Enregistrement à Hong Kong
Ce Compartiment est enregistré à la vente à Hong Kong.

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 50 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés,
options, swaps, contrats sur différence, titres avec IFD intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la
contrepartie sont fournis aux rubriques du Prospectus intitulées « Annexe III – Opérations de financement sur
titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 GBP, 1 EUR, 1 CAD, 1 AUD, 1 CHF,
1 SGD, 10 HKD ou 10 CNH selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés trimestriellement, les
31 décembre, 31 mars, 30 juin et 30 septembre. En ce qui concerne les détenteurs d’Actions de distribution, les dividendes déclarés seront normalement versés au plus
tard le 11 février, le 11 mai, le 11 août et le 11 novembre, respectivement. De plus amples informations sont
disponibles à la section « La Société – Politique de
distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Global Short-Dated High Yield Bond Fund

### SUPPLÉMENT 34, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. L’utilisation d’IFD à des fins d’investissement sera limitée. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- L’investissement dans le Compartiment ne devrait pas représenter une proportion conséquente d’un portefeuille de placement et pourrait ne pas convenir à tous les investisseurs.
- Le Compartiment peut, dans certains cas exceptionnels, effectuer des investissements importants dans des dépôts auprès d’établissements de crédit. Même si le Compartiment peut investir dans des instruments du marché monétaire et des dépôts en numéraire, les Actions dans le Compartiment ne sauraient constituer des dépôts et diffèrent des dépôts par nature en ceci que l’investissement n’est pas garanti et que sa valeur est susceptible de fluctuer. Les investissements dans le Compartiment impliquent certains risques d’investissement, dont la perte éventuelle du capital.


#### Gestionnaire de portefeuille
Insight Investment Management (Global) Limited
Le Gestionnaire de portefeuille peut déléguer ses fonctions de gestion à un Gestionnaire de portefeuille délégué et/ou désigner un conseiller en investissement délégué pour assurer un service de conseil en investissement conformément aux exigences de la Banque centrale. À la date du présent Supplément, le Gestionnaire de portefeuille a désigné le Gestionnaire de portefeuille délégué indiqué ci-dessous.

#### Gestionnaire de portefeuille délégué
Le Gestionnaire de portefeuille peut déléguer certaines
ou la totalité de ses fonctions de gestion d’investissement eu égard au présent Compartiment à
Insight North America LLC (le « Gestionnaire de portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique
« Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les
tableaux ci-après et se différencient par leur devise de référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| USD A (Cap.) | USD | 5 000 | 5 % | 1,25 % | 0 % | SOFR (composé à 90 jours) |
| USD A (Dist.) | USD | 5 000 | 5 % | 1,25 % | 0 % | SOFR (composé à 90 jours) |
| EUR H (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,25 % | 0 % | EURIBOR à 3 mois |
| EUR H (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,25 % | 0 % | EURIBOR à 3 mois |
| Sterling H (Cap.) (couverte) | GBP | 5 000 | 5 % | 1,25 % | 0 % | SONIA (composé à 90 jours) |
| Sterling H (Dist.) (couverte) | GBP | 5 000 | 5 % | 1,25 % | 0 % | SONIA (composé à 90 jours) |
| CHF H (Cap.) (couverte) | CHF | 5 000 | 5 % | 1,25 % | 0 % | SARON (composé à 90 jours) |
| CHF H (Dist.) (couverte) | CHF | 5 000 | 5 % | 1,25 % | 0 % | SARON (composé à 90 jours) |
| JPY H (Cap.) (couverte) | JPY | 500 000 | 5 % | 1,25 % | 0 % | TONAR (composé à 90 jours) |
| JPY H (Dist.) (couverte) | JPY | 500 000 | 5 % | 1,25 % | 0 % | TONAR (composé à 90 jours) |
| AUD H (Cap.) (couverte) | AUD | 5 000 | 5 % | 1,25 % | 0 % | BofA Merrill Lynch AUD LIBOR 3 M Cons Maturity TR |
| AUD H (Dist.) (couverte) (M) | AUD | 5 000 | 5 % | 1,25 % | 0 % | BofA Merrill Lynch AUD LIBOR 3 M Cons Maturity TR |
| CAD H (Cap.) (couverte) | CAD | 5 000 | 5 % | 1,25 % | 0 % | BofA Merrill Lynch CAD LIBOR 3 M Cons Maturity TR |
| CAD H (Dist.) (couverte) (M) | CAD | 5 000 | 5 % | 1,25 % | 0 % | BofA Merrill Lynch CAD LIBOR 3 M Cons Maturity TR |
| CNH H (Cap.) (couverte) | CNH | 50 000 | 5 % | 1,25 % | 0 % | HIBOR CNH à 3 mois |
| CNH H (Dist.) (couverte) (M) | CNH | 50 000 | 5 % | 1,25 % | 0 % | HIBOR CNH à 3 mois |
| SGD H (Cap.) (couverte) | SGD | 5 000 | 5 % | 1,25 % | 0 % | SIBOR SGD à 3 mois |
| SGD H (Dist.) (couverte) (M) | SGD | 5 000 | 5 % | 1,25 % | 0 % | SIBOR SGD à 3 mois |
| DKK H (Cap.) (couverte) | DKK | 50 000 | 5 % | 1,25 % | 0 % | LIBOR DKK à 3 mois |
| NOK H (Cap.) (couverte) | NOK | 50 000 | 5 % | 1,25 % | 0 % | LIBOR NOK à 3 mois |
| SEK H (Cap.) (couverte) | SEK | 50 000 | 5 % | 1,25 % | 0 % | LIBOR SEK à 3 mois |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| USD G (Cap.) | USD | 5 000 | 5 % | 0,75 % | 0 % | SOFR (composé à 90 jours) |
| USD G (Dist.) | USD | 5 000 | 5 % | 0,75 % | 0 % | SOFR (composé à 90 jours) |
| Euro G (Cap.) (couverte) | EUR | 5 000 | 5 % | 0,75 % | 0 % | EURIBOR à 3 mois |
| Euro G (Dist.) (couverte) | EUR | 5 000 | 5 % | 0,75 % | 0 % | EURIBOR à 3 mois |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 0,75 % | 0 % | SOFR (composé à 90 jours) |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 0,75 % | 0 % | SOFR (composé à 90 jours) |
| EUR I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 0,75 % | 0 % | EURIBOR à 3 mois |
| EUR I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 0,75 % | 0 % | EURIBOR à 3 mois |
| Sterling I (Cap.) (couverte) | GBP | 5 000 000 | 5 % | 0,75 % | 0 % | SONIA (composé à 90 jours) |
| Sterling I (Dist.) (couverte) | GBP | 5 000 000 | 5 % | 0,75 % | 0 % | SONIA (composé à 90 jours) |
| CHF I (Cap.) (couverte) | CHF | 5 000 000 | 5 % | 0,75 % | 0 % | SARON (composé à 90 jours) |
| CHF I (Dist.) (couverte) | CHF | 5 000 000 | 5 % | 0,75 % | 0 % | SARON (composé à 90 jours) |
| JPY I (Cap.) (couverte) | JPY | 500 000 000 | 5 % | 0,75 % | 0 % | TONAR (composé à 90 jours) |
| JPY I (Dist.) (couverte) | JPY | 500 000 000 | 5 % | 0,75 % | 0 % | TONAR (composé à 90 jours) |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,50 % | 0 % | SOFR (composé à 90 jours) |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,50 % | 0 % | SOFR (composé à 90 jours) |
| EUR W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,50 % | 0 % | EURIBOR à 3 mois |
| EUR W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,50 % | 0 % | EURIBOR à 3 mois |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,50 % | 0 % | SONIA (composé à 90 jours) |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,50 % | 0 % | SONIA (composé à 90 jours) |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,50 % | 0 % | SARON (composé à 90 jours) |
| CHF W (Dist.) (couverte) | CHF | 15 000 000 | 5 % | 0,50 % | 0 % | SARON (composé à 90 jours) |
| JPY W (Cap.) (couverte) | JPY | 1 500 000 000 | 5 % | 0,50 % | 0 % | TONAR (composé à 90 jours) |
| JPY W (Dist.) (couverte) | JPY | 1 500 000 000 | 5 % | 0,50 % | 0 % | TONAR (composé à 90 jours) |
| AUD W (Dist.) (couverte) (M) | AUD | 15 000 000 | 5 % | 0,50 % | 0 % | BofA Merrill Lynch AUD LIBOR 3 M Cons Maturity TR |
| CAD W (Dist.) (couverte) (M) | CAD | 15 000 000 | 5 % | 0,50 % | 0 % | BofA Merrill Lynch CAD LIBOR 3 M Cons Maturity TR |
| HKD W (Dist.) (couverte) (M) | HKD | 150 000 000 | 5 % | 0,50 % | 0 % | HIBOR HKD à 3 mois |
| CNH W (Dist.) (couverte) (M) | CNH | 150 000 000 | 5 % | 0,50 % | 0 % | HIBOR CNH à 3 mois |
| SGD W (Dist.) (couverte) (M) | SGD | 15 000 000 | 5 % | 0,50 % | 0 % | SIBOR SGD à 3 mois |
| DKK W (Cap.) (couverte) | DKK | 150 000 000 | 5 % | 0,50 % | 0 % | LIBOR DKK à 3 mois |
| NOK W (Cap.) (couverte) | NOK | 150 000 000 | 5 % | 0,50 % | 0 % | LIBOR NOK à 3 mois |
| SEK W (Cap.) (couverte) | SEK | 150 000 000 | 5 % | 0,50 % | 0 % | LIBOR SEK à 3 mois |

| Actions « Z » et Actions « Z (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| Sterling Z (Cap.) (couverte) | GBP | 200 000 000 | 5 % | 0,40 % | 0 % | SONIA (composé à 90 jours) |
| Sterling Z (Dist.) (couverte) | GBP | 200 000 000 | 5 % | 0,40 % | 0 % | SONIA (composé à 90 jours) |
| USD Z (Cap.) | USD | 200 000 000 | 5 % | 0,40 % | 0 % | SOFR (composé à 90 jours) |
| USD Z (Dist.) | USD | 200 000 000 | 5 % | 0,40 % | 0 % | SOFR (composé à 90 jours) |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| EUR X (Cap.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % | EURIBOR à 3 mois |
| EUR X (Dist.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % | EURIBOR à 3 mois |
| JPY X (Cap.) | JPY | Aucun(e) | 0 % | 0 % | 0 % | TONAR (composé à 90 jours) |
| JPY X (Dist.) (M) | JPY | Aucun(e) | 0 % | 0 % | 0 % | TONAR (composé à 90 jours) |
| JPY X (Cap.) (couverte) | JPY | Aucun(e) | 0 % | 0 % | 0 % | TONAR (composé à 90 jours) |
| JPY X (Dist.) (couverte) | JPY | Aucun(e) | 0 % | 0 % | 0 % | TONAR (composé à 90 jours) |
| JPY X (Dist.) (couverte) (M) | JPY | Aucun(e) | 0 % | 0 % | 0 % | TONAR (composé à 90 jours) |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % | SOFR (composé à 90 jours) |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % | SOFR (composé à 90 jours) |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % | SONIA (composé à 90 jours) |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % | SONIA (composé à 90 jours) |
| CHF X (Cap.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % | SARON (composé à 90 jours) |
| CHF X (Dist.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % | SARON (composé à 90 jours) |
| CAD X (Cap.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % | BofA Merrill Lynch CAD LIBOR 3 M Cons Maturity TR |
| CAD X (Dist.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % | BofA Merrill Lynch CAD LIBOR 3 M Cons Maturity TR |

| Actions « Y » et Actions « Y » (couvertes) |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| USD Y (Cap.)* | USD | Aucun(e) | 5 % | 0 % | 0 % | SOFR (composé à 90 jours) |
| Sterling Y (Cap.) (couverte) * | GBP | Aucun(e) | 5 % | 0 % | 0 % | SONIA (composé à 90 jours) |

*	Cette catégorie d’actions n’est plus disponible pour les nouveaux investisseurs.

#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à générer des rendements positifs supérieurs à l’Indice de référence monétaire sur une base mobile de 3 années consécutives.

##### Politique d’investissement
Le Compartiment cherche à atteindre son objectif d’investissement en plaçant l’essentiel de sa Valeur liquidative, c’est-à-dire plus de 50 %, dans un portefeuille d’obligations à haut rendement (c’est-à-dire des obligations considérées comme sous-évaluées par le
Gestionnaire de portefeuille) qui arrivent généralement ou sont censées arriver à échéance dans les 3 ans.
Le restant des actifs peut être investi dans un vaste éventail de liquidités, d’actifs liquides ou quasi liquides (tel que décrit dans la section « Gestion de la liquidité et
des garanties » ci-dessous). Cependant, dans les périodes d’incertitude du marché, le Compartiment peut être amené à réduire son allocation en obligations à haut
rendement et à investir une majorité de ses liquidités, actifs liquides ou quasi liquides afin de protéger sa valeur.
Le Compartiment peut investir dans des titres de créance et apparentés (obligations, bons du Trésor, débentures, obligations, prêts, titres adossés à des actifs ou à des créances hypothécaires, certificats de dépôt, billets à taux variable, billets de trésorerie et obligations à court et moyen terme, qui peuvent être à taux fixe, flottant ou
variable et varier inversement à un taux de référence, obligations avec remboursement anticipé à l’option de l’émetteur (callable) ou obligations convertibles, c.-à-d. qui sont attachées à un droit de conversion en actions ou
possèdent des caractéristiques similaires aux actions, et peuvent être émis ou garantis par un gouvernement souverain ou ses agences, des collectivités locales, des organismes supranationaux ou internationaux publics, des banques, des sociétés ou tous autres émetteurs commerciaux [dénommés ci-après, les « Titres de créance et apparentés »]).
Les titres de créance émis par des sociétés peuvent être achetés assortis de bons de souscription. Suite à une
opération sur titres incluant un événement de conversion ou de restructuration d’un émetteur sous-jacent, le Compartiment peut recevoir des actions. Le Gestionnaire
de portefeuille peut décider de conserver ou de vendre les investissements en question s’il considère qu’il est dans l’intérêt du Compartiment de le faire, en tenant compte des conditions dominantes du marché.
Le Compartiment investira directement dans des Titres de créance et apparentés et peut également acquérir une exposition à ceux-ci en utilisant des IFD, tel que décrit
sous la rubrique « Utilisation d’IFD » ci-dessous. Veuillez consulter la section « Utilisation d’IFD » ci-dessous, pour obtenir une liste des valeurs/instruments pouvant
intégrer des IFD et/ou un effet de levier.
Les IFD sont utilisés pour adopter des positions longues et des positions courtes synthétiques. Ils peuvent assurer une protection ou des bénéfices découlant des défauts
ou des prévisions de défaut des émetteurs de créances, et être utilisés pour exprimer des opinions sur l’évolution future et la volatilité des cours des titres de créances et
apparentés.
Sur la base de l’analyse mentionnée dans la section ci- dessous intitulée « Stratégie d’investissement », le Compartiment peut avoir recours à des positions courtes
synthétiques pour :
- arbitrer une exposition longue, c’est-à-dire protéger le niveau de perte que le Compartiment peut subir en cas de perte de valeur d’un titre ou d’un marché auquel il est exposé ;et
- exprimer une vue négative sur l’évolution future d’un marché, d’une classe d’actifs (par exemple : des obligations à haut rendement, des obligations d’État, tel que spécifié ci-dessus dans la politique d’investissement), des taux d’intérêt ou d’un émetteur individuel. Par exemple, le Gestionnaire de portefeuille peut penser que la valeur d’un marché, d’une classe d’actifs (tel que décrit ci-dessus) ou d’un émetteur individuel risque de chuter et la positioncourte synthétique signifiera que le Compartiment profitera de ce mouvement. Ce résultat peut êtreobtenu, par exemple, en vendant des contrats à terme standardisés sur obligations d’État, en achetant des swaps de défaut de crédit ou enachetant des options de vente.

Alors que l’importance des expositions courtes synthétiques dans le Compartiment varie dans le temps, le Compartiment veillera généralement à maintenir une
exposition positive significative aux titres de créance et apparentés.
Le Compartiment peut investir à l’échelle mondiale, et ne se concentre pas sur une zone géographique, une
industrie ou un secteur donné(e) pour construire son exposition à tout titre tel que susmentionné. Cependant, le portefeuille est parfois concentré sur des obligations émises par des émetteurs dans un nombre limité de pays ou de régions. Ceci peut être dû au fait que le
Gestionnaire de portefeuille considère qu’une position
concentrée sera bénéfique pour le Compartiment. Le
Compartiment peut investir plus de 20 % dans des titres de créance des marchés émergents, y compris des
obligations Brady, des euro-obligations souveraines, des obligations d’entreprise, des prêts et des prêts souverains, des bons, billets et obligations du Trésor
locaux, des certificats de dépôt, des billets de trésorerie et des titres du marché monétaire. L’exposition à la dette des marchés émergents peut également être représentée
par des titres de créance de qualité investment grade. Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des titres de créance et apparentés
cotés ou négociés sur des marchés russes. Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des Titres de créance et apparentés en
République populaire de Chine (« RPC ») négociés sur le marché obligataire interbancaire chinois (« CIBM ») via le programme Bond Connect (décrit plus en détail à
l’Annexe VI du Prospectus). De tels investissements ne
pourront être effectués que sur des Marchés éligibles figurant dans l’Annexe II du Prospectus.
Les investissements du Compartiment peuvent être de qualité investment grade ou inférieure ou être non notés. Le Gestionnaire de portefeuille considère les titres de qualité inférieure à investment grade comme étant ceux dont la notation de crédit est inférieure à BBB- à la date
d’achat, telle qu’attribuée par une Agence de notation
reconnue. Le Compartiment peut être investi à 100 %
dans des titres de qualité inférieure à investment grade
ou non notés. Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative au total dans des valeurs
mobilières ou des instruments du marché monétaire qui ne sont pas admis à la cote officielle d’une Bourse des valeurs ni négociés sur un Marché éligible, conformément
à la Réglementation OPCVM, dont, entre autres, des actions ou des Titres de créance et apparentés non cotés. Sinon, les titres dans lesquels le Compartiment
investira seront cotés ou négociés sur des Marchés éligibles figurant à l’Annexe II au Prospectus.
Le Compartiment peut également investir dans des liquidités et actifs liquides ou quasi liquides et jusqu’à 10 % de sa Valeur liquidative dans des organismes de
placement collectif (« OPC ») (y compris des fonds négociés en Bourse (« ETF ») et des fonds monétaires) à des fins de liquidité (tel que décrit ci-dessous) ou
d’investissement, lorsque ces OPC présentent une exposition cohérente avec la politique d’investissement du Compartiment.
Le Compartiment n’investira pas plus de 10 % de sa Valeur liquidative dans des titres émis et/ou garantis par un seul émetteur souverain dont la qualité est inférieure
à investment grade. Afin de lever toute ambiguïté, il est précisé qu’un émetteur souverain désigne un pays, son gouvernement ou une autorité publique ou locale.
Bien que sa devise de référence soit l’USD, le Compartiment peut investir dans des actifs non libellés en USD et pas obligatoirement couverts en USD.

##### Investissements en prêts bancaires
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des participations sur prêts bancaires non titrisés et/ou dans des cessions de prêts, pour
autant que ces instruments constituent des instruments du marché monétaire normalement négociés sur le
marché monétaire, qu’ils soient liquides et qu’il soit
possible de déterminer avec précision leur valeur à tout
moment.

##### Gestion de la liquidité et des garanties
À des fins de gestion de la liquidité et des garanties, le
Compartiment peut, de temps à autre, investir dans un large éventail d’actifs liquides ou quasi liquides afin de fournir liquidité et couverture aux expositions générées par l’utilisation d’IFD. Dans certains cas exceptionnels (par ex. effondrement du marché ou crise majeure), le Compartiment peut être investi jusqu’à 100 % en actifs liquides ou quasi liquides afin de gérer ses flux de
trésorerie.
Les actifs liquides ou quasi liquides peuvent inclure les Titres de créance et apparentés, les dépôts bancaires et les obligations émises ou garanties par des gouvernements souverains ou leurs agences et des titres et instruments émis par des organismes supranationaux ou internationaux de droit public, des banques, des
sociétés ou d’autres émetteurs commerciaux. Il est prévu
que les émetteurs et/ou garants de tous ces titres,
instruments ou obligations auront une notation de crédit, au moment de l’achat, au moins égale à A1/P1 (ou son équivalent) publiée par une Agence de notation reconnue, ou seront jugés être d’une qualité équivalente par le Gestionnaire de portefeuille.
Le Compartiment peut également investir dans des fonds
monétaires, y compris des OPCVM irlandais gérés par Insight Investment Funds Management Limited et à l’aide des conseils fournis par le Gestionnaire de portefeuille.

##### Organismes de placement collectif
Le Compartiment peut également poursuivre ses objectifs et sa politique d’investissement en prenant des positions dans des OPC, avec un plafond fixé à 10 % de sa Valeur
liquidative. Tout investissement dans des ETF à capital variable sera soumis au plafond de 10 % cité ci-dessus, et tout investissement dans des ETF à capital fixe constituera un investissement dans une valeur mobilière conformément aux exigences de la Banque centrale.
Les organismes dans lesquels le Compartiment investit peuvent également être gérés par Insight Investment Funds Management Limited, le Gestionnaire de
portefeuille ou des entités affiliées à l’un d’entre eux.

##### Indice de référence
SOFR (composé à 90 jours) (l’« Indice de référence monétaire »).
Le SOFR (Secured Overnight Financing Rate) est une mesure générale du coût d’emprunt de liquidités à un jour garanties par des bons du Trésor américain et est
administré par la Réserve fédérale de New York.
Le Compartiment utilise l’Indice de référence monétaire comme élément de comparaison de sa performance sur une base mobile de 3 années consécutives, avant
déduction des frais.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour sélectionner les investissements sur la base de l’objectif et de la politique d’investissement.

##### Stratégie d’investissement
La politique d’investissement du Compartiment repose sur les opinions que porte le Gestionnaire de portefeuille sur des entreprises spécifiques, plutôt que sur les
secteurs dans lesquelles ces entreprises évoluent ou sur l’économie en général. Le Gestionnaire de portefeuille recherche des entreprises dont les créances sont
considérées comme sous-évaluées (comme indiqué ci- dessous) et à haut rendement par rapport à des créances similaires. En particulier, le Gestionnaire de portefeuille recherche des entreprises qui :
- génèrent un niveau positif de trésorerie tel qu’elles cherchent à réduire leurs emprunts, mais sans que cela ne soit reflété dans le coût de leurs créances ;
- ont des créances subordonnées en cours (c’est-à-dire des créances faiblement notées, qui offrent ainsi un taux d’intérêt élevé) arrivant à échéance avant leurs créances senior ;
- peuvent rencontrer des difficultés à plus long terme, mais sont liquides à court terme et sont en mesure de régler les paiements de leurs créances à court terme.

Les liquidités, actifs liquides et quasi liquides peuvent être utilisés pour protéger la valeur du Compartiment. La part du portefeuille investie dans de tels actifs est déterminée par le Gestionnaire de portefeuille en fonction de sa vision de la conjoncture basée sur les indicateurs économiques clés tels que le produit intérieur brut (PIB),
l’inflation et les prévisions de taux d’intérêt ainsi que les données relatives à l’emploi. Par exemple, si le Gestionnaire de portefeuille craint une crise économique,
le Compartiment peut augmenter sa position de liquidités.

##### Règlement sur la publication d’informations en matière de finance durable
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents du Compartiment, il évalue le risque qu’un
événement ou une condition ESG (« Événement ESG ») ait
une incidence négative importante sur la valeur de ces investissements sous-jacents. Les risques en matière de durabilité sont inclus dans le programme
d’investissement responsable du Gestionnaire de
portefeuille et sont gérés en veillant à ce que les décideurs de haut rang soient informés et à l’aide des procédures efficaces de responsabilisation, de transparence et d’application. Lorsque les questions de risque en matière de durabilité sont considérées comme
importantes pour les résultats d’investissement, elles sont intégrées aux processus d’étude préalable. Cette mesure peut inclure l’évaluation de titres individuels et/ ou l’interaction avec des émetteurs ou des acteurs du
marché. Les contrôles internes garantissent une
application permanente des critères de durabilité au Compartiment. Les restrictions ESG, qui comprennent des notations ESG attribuées en interne et des données
externes fournies par des tiers, sont destinées à empêcher ou permettre l’investissement dans des titres qui répondent à des caractéristiques de durabilité. Ces
contrôles sont codés par rapport au Compartiment et mis à jour à mesure que de nouvelles informations sont reçues et intégrées.
La gouvernance d’entreprise est un facteur de risque clé en matière de durabilité et fait partie du processus de
notation des risques ESG interne appliqué à tous les émetteurs. L’évaluation de la gouvernance d’entreprise effectuée par le Gestionnaire de portefeuille comprend l’évaluation des pratiques, du comportement, de la rémunération, du contrôle, de la responsabilité et de l’éthique du conseil d’administration ou des controverses le concernant. Le Gestionnaire de portefeuille utilise les
résultats des évaluations ESG, en plus de ses propres
connaissances des structures de gouvernance des émetteurs, pour fixer des priorités d’engagement avec ces derniers. Le Gestionnaire de portefeuille examine ces
risques dans leur ensemble afin de décider si un investissement compense raisonnablement un fonds pour les risques en matière de durabilité encourus à long et court terme.
En termes de facteurs sociaux et environnementaux, la méthode de notation ESG interne du Gestionnaire de portefeuille fournit des informations spécifiques au
secteur et à l’émetteur sur des questions clés. Ce modèle
aide le Gestionnaire de portefeuille à identifier les
risques clés auxquels un secteur ou un émetteur spécifique peut être confronté.
Le Compartiment peut générer des performances
inférieures ou se comporter de manière différente par rapport à d’autres fonds comparables qui n’intègrent pas les risques en matière de durabilité dans leurs décisions d’investissement. Par ailleurs, il est toujours possible que sa valeur soit négativement affectée par un Événement
ESG.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences
négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en
Bourse ou de gré à gré suivants, à des fins d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur taux d’intérêt |
| --- | --- |
| Options | Options sur taux d’intérêt |
| Contrats à terme | Contrats de change à terme |
| Swaps | Swaps de défaut de crédit (« CDS ») (sur valeur individuelle, indice) Swaps de taux d’intérêt Swaps de devises croisées Swaps de rendement total (sur valeur individuelle, indice et panier [dans ce dernier cas, dont les composantes sous-jacentes peuvent être groupées par secteur, territoire ou d’autres caractéristiques]) |
| Titres avec IFD intégrés/effet de levier | Obligations avec bons de souscription assortis Obligations avec remboursement anticipé à l’option de l’émetteur (callable) Titres adossés à des actifs (ABS) et Titres adossés à des créances hypothécaires (MBS) Obligations convertibles |
| Autres | Accords de mise/prise en pension |

Une liste des Marchés éligibles sur lesquels les IFD peuvent être cotés ou négociés est exposée à l’Annexe II du Prospectus.
De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices financiers suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne
peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | Markit CDX Emerging Markets Index Markit CDX North American High Yield Index Markit iTraxx Asia Index Markit iTraxxEurope Index Markit iTraxxSenior Financials Index Markit iTraxxSubordinated Financials Index Markit iTraxx Crossover Index |
| Indices de taux d’intérêt utilisés pour offrir une exposition aux marchés de taux d’intérêt et exprimer le point de vue des Gestionnaires de portefeuille selon lequel la courbe de rendement évoluera dans une direction particulière, d’une manière plus rentable ou plus efficiente qu’avec l’achat de titres physiques. | EURIBOR LIBOR SOFR SONIA |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Les
indices financiers restants seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages, les coûts associés ou la pondération des actions de
l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement qui ne figure pas dans la liste ci- dessus, des informations détaillées, notamment sur le marché qu’il représente, et des références pour obtenir des informations supplémentaires seront présentées
dans les comptes semestriels et annuels de la Société.

##### Positions longues et courtes
Le Compartiment peut construire des expositions synthétiques longues et synthétiques courtes dans
chacune des classes d’actifs référencées dans la Politique d’investissement pour atteindre son objectif d’investissement. L’exposition longue nette totale (après prise en compte de la couverture) par le biais d’IFD ne
devrait pas dépasser 100 % de la Valeur liquidative du Compartiment et l’exposition nette courte totale ne devrait pas dépasser non plus 100 % de la Valeur liquidative du Compartiment (en utilisant l’approche par les engagements).

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 100 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des OFT, c’est à
dire des accords de prêt de titres et des accords de
mise/prise en pension, comme décrit sous la rubrique
« Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et
aux OFT correspondent respectivement à 30 % et 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que ces expositions respectives aux TRS et aux OFT excèdent
20 % et 30 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet de TRS et OFT seront les titres dont la nature est conforme à la politique d’investissement du
Compartiment.
De plus amples détails concernant les TRS, les OFT ainsi que les garanties acceptables et la procédure relative à
la contrepartie sont fournis aux rubriques du Prospectus intitulées « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 GBP, 1 EUR, 1 CAD, 1 AUD, 1 CHF,
1 SGD, 10 HKD, 10 CNH, 100 JPY, 10 DKK, 10 NOK ou
10 SEK, selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) portant le suffixe (« M »), les dividendes seront normalement déclarés chaque mois, le dernier Jour
ouvrable du mois. Concernant les détenteurs d’Actions de
distribution mensuelle, les dividendes déclarés leur
seront normalement versés au plus tard le 20 du mois
suivant. Dans le cas de toutes les autres catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés
trimestriellement, les 31 décembre, 31 mars, 30 juin et 30 septembre. Concernant les détenteurs d’Actions de distribution, les dividendes déclarés leur seront
normalement versés au plus tard le 11 février, le 11 mai, le 11 août et le 11 novembre, respectivement. De plus amples informations sont disponibles à la section « La
Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur la section intitulée « Facteurs de risque » du Prospectus et spécifiquement sur les risques décrits dans les rubriques
« Risque lié aux Marchés émergents », « Risque liés aux titres à haut rendement/de qualité inférieure à investment grade » et « Investissement en Russie ».

## BNY Mellon U.S. Municipal Infrastructure Debt Fund

### SUPPLÉMENT 35, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Il est proposé que les commissions de gestion et autres commissions et frais du Compartiment soient imputés au capital de ce dernier en vue de maximiser les distributions. Veuillez consulter la section « Commissions et frais » dans le Prospectus pour plus d’informations.


#### Gestionnaire de portefeuille
Insight North America LLC

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée occasionnellement par les Administrateurs, à condition
que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale
et le niveau des commissions et frais prélevés. Les catégories d’investisseurs auxquels chaque catégorie d’actions peut être offerte sont décrites sous la rubrique
« La Société – Structure » du Prospectus.
| Actions « P » et Actions « P (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro P (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,10 % | 0 % |
| Euro P (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,10 % | 0 % |
| USD P (Cap.) | USD | 5 000 | 5 % | 1,10 % | 0 % |
| USD P (Dist.) | USD | 5 000 | 5 % | 1,10 % | 0 % |
| AUD P (Cap.) (couverte) | AUD | 5 000 | 5 % | 1,10 % | 0 % |
| AUD P (Dist.) (couverte) | AUD | 5 000 | 5 % | 1,10 % | 0 % |

| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR A (Cap.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| USD A (Cap.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD A (Dist.) (M) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling A (Cap.) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling A (Dist.) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| CHF A (Cap.) | CHF | 5 000 | 5 % | 1,00 % | 0 % |
| CHF A (Dist.) | CHF | 5 000 | 5 % | 1,00 % | 0 % |
| Euro H (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro H (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling H (Cap.) (couverte) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling H (Dist.) (couverte) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| CHF H (Cap.) (couverte) | CHF | 5 000 | 5 % | 1,00 % | 0 % |
| CHF H (Dist.) (couverte) | CHF | 5 000 | 5 % | 1,00 % | 0 % |
| AUD H (Cap.) (couverte) | AUD | 5 000 | 5 % | 1,00 % | 0 % |
| AUD H (Dist.) (couverte) | AUD | 5 000 | 5 % | 1,00 % | 0 % |
| SGD H (Dist.) (M) (couverte) | SGD | 5 000 | 5 % | 1,00 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 0,50 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 0,50 % | 0 % |
| Euro G (Cap.) (couverte) | EUR | 5 000 | 5 % | 0,50 % | 0 % |
| Euro G (Dist.) (couverte) | EUR | 5 000 | 5 % | 0,50 % | 0 % |
| Sterling G (Cap.) (couverte) | GBP | 5 000 | 5 % | 0,50 % | 0 % |
| Sterling G (Dist.) (couverte) | GBP | 5 000 | 5 % | 0,50 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro C (Cap.) | EUR | 5 000 000 | 5 % | 0,50 % | 0 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 0,50 % | 0 % |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 0,50 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 0,50 % | 0 % |
| Sterling C (Cap.) | GBP | 5 000 000 | 5 % | 0,50 % | 0 % |
| Sterling C (Dist.) | GBP | 5 000 000 | 5 % | 0,50 % | 0 % |
| CHF C (Cap.) | CHF | 5 000 000 | 5 % | 0,50 % | 0 % |
| CHF C (Dist.) | CHF | 5 000 000 | 5 % | 0,50 % | 0 % |
| Euro I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 0,50 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 0,50 % | 0 % |
| Sterling I (Cap.) (couverte) | GBP | 5 000 000 | 5 % | 0,50 % | 0 % |
| Sterling I (Dist.) (couverte) | GBP | 5 000 000 | 5 % | 0,50 % | 0 % |
| CHF I (Cap.) (couverte) | CHF | 5 000 000 | 5 % | 0,50 % | 0 % |
| CHF I (Dist.) (couverte) | CHF | 5 000 000 | 5 % | 0,50 % | 0 % |
| AUD I (Cap.) (couverte) | AUD | 5 000 000 | 5 % | 0,50 % | 0 % |
| AUD I (Dist.) (couverte) | AUD | 5 000 000 | 5 % | 0,50 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,40 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,40 % | 0 % |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,40 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,40 % | 0 % |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,40 % | 0 % |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,40 % | 0 % |
| CHF W (Cap.) | CHF | 15 000 000 | 5 % | 0,40 % | 0 % |
| CHF W (Dist.) | CHF | 15 000 000 | 5 % | 0,40 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,40 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,40 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,40 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,40 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,40 % | 0 % |
| CHF W (Dist.) (couverte) | CHF | 15 000 000 | 5 % | 0,40 % | 0 % |

| Actions « Z » et Actions « Z (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD Z (Cap.) | USD | 200 000 000 | 5 % | 0,35 % | 0 % |
| USD Z (Dist.) | USD | 200 000 000 | 5 % | 0,35 % | 0 % |
| Euro Z (Cap.) (couverte) | EUR | 200 000 000 | 5 % | 0,35 % | 0 % |
| Euro Z (Dist.) (couverte) | EUR | 200 000 000 | 5 % | 0,35 % | 0 % |
| CHF Z (Cap.) (couverte) | CHF | 200 000 000 | 5 % | 0,35 % | 0 % |
| CHF Z (Dist.) (couverte) | CHF | 200 000 000 | 5 % | 0,35 % | 0 % |
| Sterling Z (Cap.) (couverte) | GBP | 200 000 000 | 5 % | 0,35 % | 0 % |
| Sterling Z (Dist.) (couverte) | GBP | 200 000 000 | 5 % | 0,35 % | 0 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro E (Cap.) | EUR | Comme convenu | 5 % | 0,30 % | 0 % |
| Euro E (Dist.) | EUR | Comme convenu | 5 % | 0,30 % | 0 % |
| USD E (Cap.) | USD | Comme convenu | 5 % | 0,30 % | 0 % |
| USD E (Dist.) | USD | Comme convenu | 5 % | 0,30 % | 0 % |
| Sterling E (Cap.) | GBP | Comme convenu | 5 % | 0,30 % | 0 % |
| Sterling E (Dist.) | GBP | Comme convenu | 5 % | 0,30 % | 0 % |
| CHF E (Cap.) | CHF | Comme convenu | 5 % | 0,30 % | 0 % |
| CHF E (Dist.) | CHF | Comme convenu | 5 % | 0,30 % | 0 % |
| Euro E (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,30 % | 0 % |
| Euro E (Dist.) (couverte) | EUR | Comme convenu | 5 % | 0,30 % | 0 % |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,30 % | 0 % |
| Sterling E (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,30 % | 0 % |
| CHF E (Cap.) (couverte) | CHF | Comme convenu | 5 % | 0,30 % | 0 % |
| CHF E (Dist.) (couverte) | CHF | Comme convenu | 5 % | 0,30 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Cap.) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Dist.) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Cap.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Dist.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à fournir un niveau de revenu aussi élevé que possible tout en préservant le capital.

##### Politique d’investissement
Afin d’atteindre son objectif d’investissement, à savoir fournir un niveau élevé de revenu tout en préservant le capital, le Compartiment investit principalement (soit au
moins 75 % de la Valeur liquidative) dans un portefeuille d’obligations municipales cotées ou négociées sur des Marchés éligibles. Les obligations municipales sont des
obligations émises par un État, une municipalité, des entités sans but lucratif ou une collectivité locale comme des autorités de transit (c.-à-d. des unités gouvernementales indépendantes à mission spéciale qui existent séparément des gouvernements locaux) pour
financer des secteurs d’infrastructure et des projets
menés aux États-Unis, ses territoires et ses possessions
inclus. Certains émetteurs non gouvernementaux, principalement des hôpitaux, des collèges et des
universités, émettront des obligations municipales imposables à titre d’entités privées sans but lucratif. Cela peut réduire le coût d’émission en permettant à ces émetteurs de vendre directement les obligations
municipales. De plus, les obligations municipales émises par des entités privées sans but lucratif peuvent être incluses dans les principaux indices obligataires agrégés mondiaux ou américains, élargissant ainsi la base
d’investisseurs potentiels pour de telles obligations
municipales.
Outre les obligations municipales, le Compartiment peut également investir jusqu’à 20 % de sa Valeur liquidative dans d’autres titres de créance et apparentés de gouvernement ou de d’entreprise, émis par le gouvernement fédéral des États-Unis ou ses organismes,
organismes internationaux publics, sociétés ou autres entités privées.
Le Compartiment peut investir dans des titres de créance
et apparentés de gouvernements et/ou de sociétés, à taux fixe ou variable (c’est-à-dire des obligations municipales, des billets payables à vue à taux variable
(« VRDN »), des obligations TOB, des billets à taux variable (« FRN »), des bons du Trésor, des obligations
d’agence, des obligations à zéro coupon, des titres
adossés à des actifs, des titres adossés à des créances
hypothécaires, des titres liés à un risque de crédit, des obligations structurées, des instruments du marché monétaire (à savoir des billets de trésorerie et des dépôts bancaires), des placements privés (à savoir des obligations 144A), (ci-après, les «°Titres de créance et apparentés°»)).
Le Gestionnaire de portefeuille peut chercher à investir dans des FRN s’il est prévu que les taux d’intérêt augmentent. Le Compartiment peut investir dans des certificats d’intérêts résiduel émis par des fiducies
d’obligations TOB si cela constitue un moyen plus rentable de s’exposer à des obligations municipales que d’investir directement dans les obligations municipales
sous-jacentes.
Le Compartiment investira directement dans des Titres de créance et apparentés et peut également acquérir une exposition à ceux-ci en utilisant des IFD, tel que décrit
sous la rubrique « Utilisation d’IFD ». Les IFD peuvent
être utilisés pour exprimer des positions sur la direction et l’instabilité des Titres de créance et apparentés.
Le Compartiment investira dans des Titres de créance et
apparentés de qualité investment grade ou inférieure (c’est-à-dire inférieure à BBB- ou son équivalent), tels que notés par une Agence de notation reconnue. Afin de lever toute ambiguïté, le Compartiment n’investira pas dans des titres qui ne sont pas notés. Au moins 80 % des
Titres de créance et apparentés dans lesquels le Compartiment peut investir seront de qualité investment grade et pas plus de 20 % des Titres de créance et apparentés dans lesquels le Compartiment peut investir seront des titres de qualité inférieure à investment grade. Dans le cadre des investissements du Compartiment dans des titres de qualité inférieure à investment grade, le Compartiment ne peut pas investir plus de 10°% de sa Valeur liquidative dans des titres de qualité inférieure à
investment grade assortis d’une notation de crédit inférieure à BB-, telle qu’attribuée par une Agence de notation reconnue, au moment de l’investissement. La notation de crédit minimum des Titres de créance et
apparentés aux titres de créance dans lesquels le Compartiment peut investir au moment de
l’investissement est B- (ou son équivalent), telle qu’attribuée par une Agence de notation reconnue.
Dans le cas de titres adossés à des actifs, de titres adossés à des créances hypothécaires et autres
instruments liés au crédit, le Compartiment n’investira
pas dans des Titres de créance et apparentés assortis d’une note inférieure à BBB- (ou équivalent) attribuée par une Agence de notation reconnue à la date d’achat.
En cas de divergence de notation (c’est-à-dire si différentes notations sont attribuées par deux agences
de notation ou plus), la plus basse des deux notations les plus élevées sera prise en considération.
Si un Titre de créance ou apparenté détenu par le Compartiment est subséquemment dégradé en dessous des limites susmentionnées, le Gestionnaire de portefeuille pourra maintenir une exposition au titre en question, à concurrence maximale de 3 % de sa Valeur liquidative. Si la valeur cumulée de ces titres dépasse
3 % de la Valeur liquidative du Compartiment, tout titre ou instrument qui n’a pas été revalorisé dans un délai de six mois sera vendu. Les expositions découlant de participations sous-jacentes d’organismes de placement collectif (« OPC ») seront prises en compte dans l’application des restrictions énoncées dans le présent paragraphe.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative globale dans des valeurs mobilières (c’est-à- dire des Titres de créance et apparentés) qui ne sont pas
admises ou négociées sur un Marché éligible, conformément à la Réglementation OPCVM. À l’exception des investissements autorisés dans des valeurs
mobilières non cotées et dans des instruments du marché monétaire approuvés, les investissements du Compartiment doivent être cotés ou négociés sur des Marchés éligibles. Une liste des Marchés éligibles est
exposée à l’Annexe II du Prospectus.
Le Compartiment peut également investir dans des liquidités et actifs liquides et quasi liquides et jusqu’à 10°% de sa Valeur liquidative dans des organismes de
placement collectif («°OPC°»).
Le Compartiment n’a pas l’intention d’initier des positions courtes.

##### Gestion de la liquidité et des garanties
Le Compartiment détiendra des actifs liquides et quasi liquides dans certaines circonstances, telles que pour satisfaire aux demandes de rachat, faciliter le paiement des frais, conserver des liquidités en attente de
réinvestissement et fournir des liquidités et des garanties pour les contrats d’IFD.
Les actifs quasi-liquides peuvent comprendre des instruments du marché monétaire tels que des bons du Trésor américain, des obligations du Trésor et des dépôts bancaires. Il est prévu que les émetteurs et/ou garants
de tous ces titres et instruments auront une notation de crédit, au moment de l’achat, au moins égale à A1/P1 (ou son équivalent) publiée par une Agence de notation reconnue, ou seront jugés être d’une qualité équivalente par le Gestionnaire de portefeuille.

##### Organismes de placement collectif
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des OPC à capital variable, y compris des fonds négociés en Bourse (« ETF ») et des fonds
monétaires. La notation de crédit minimum des Titres de
créance et apparentés dans lesquels un organisme de placement collectif peut investir au moment de l’achat est B- (ou son équivalent), ou, dans le cas de titres
adossés à des actifs, de titres adossés à des crédits hypothécaires et d’autres instruments liés à un risque, est BBB- (ou son équivalent), telle qu’attribuée par une Agence de notation reconnue. En cas d’une divergence de notation, la plus basse des deux notations les plus
élevées sera prise en considération. Les OPC peuvent inclure un ou plusieurs autres Compartiments de la
Société ou d’autres fonds conseillés par le Gestionnaire
de portefeuille. Tout investissement dans des fonds à
capital fixe (y compris des EFT) constituant des valeurs mobilières sera effectué conformément aux critères et
aux limites d’investissement applicables aux valeurs mobilières, comme exposé au chapitre « La Société – Restrictions en matière d’investissement et d’emprunt »
du Prospectus.

##### Indice de référence
L’indice mixte composé à 50 % de l’indice Bloomberg Barclays U.S. Municipal Bond TR Index et à 50 % de l’indice Bloomberg Barclays Taxable U.S. Municipal Bond TR Index (ci-après l’« Indice de référence mixte »).
Bloomberg Barclays U.S. Municipal Bond est un indice de
référence général mesurant le marché des obligations à taux fixe, exonérées d’impôt, de qualité investment grade et libellées en dollars américains. L’indice comprend les obligations générales nationales et locales, à recettes,
assurées et à clause de remboursement anticipé.
Bloomberg Barclays Taxable U.S. Municipal Bond est un indice de référence général mesurant le marché des obligations municipales imposables, à taux fixe, de qualité investment grade et libellées en dollars américains.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence mixte.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour investir en dehors de l’Indice de référence mixte sur la base de l’objectif et de la politique d’investissement. Bien que la majorité des participations du Compartiment doivent être des composantes de l’Indice de référence mixte et être
assorties de pondérations similaires à celles de ce dernier, la stratégie d’investissement ne limite pas la mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence mixte.

##### Stratégie d’investissement
La stratégie d’investissement du Compartiment est orientée par la philosophie adoptée par l’équipe du Gestionnaire de portefeuille, qui vise à diversifier l’exposition au risque et met l’accent sur la sélection des secteurs et des titres pour les obligations d’infrastructure municipales américaines à coupon imposable comme exonéré d’impôt. Les émetteurs de titres de créance
municipaux peuvent émettre, des obligations d’infrastructure municipales américaines soumises à l’impôt et exonérées d’impôt que le Compartiment peut
acheter. Le traitement fiscal des coupons reçus de ces obligations soumises à l’impôt et exonérées d’impôt n’est
toutefois pas différent pour les contribuables non américains et le Compartiment ne cherche pas à
bénéficier, et ne bénéficiera pas nécessairement, du statut d’exonération d’impôt des obligations d’infrastructure municipales qu’il achète. Ces investissements seront sélectionnés pour leurs autres
caractéristiques, telles que décrites ici. Le Gestionnaire de portefeuille sélectionne les investissements proposés du Compartiment, comme décrit sous la rubrique
« Politique d’investissement » ci-dessus, en identifiant
les secteurs et titres sous-évalués grâce à une analyse
fondamentale et quantitative poussée. Le processus d’investissement du Gestionnaire de portefeuille met l’accent sur l’identification des secteurs et titres sous- évalués sur les marchés des obligations municipales et soumises à l’impôt. L’accent est mis sur l’exploitation des
anomalies de rendement dans les secteurs des obligations municipales et soumises à l’impôt, en identifiant les titres sous-évalués, en déterminant pour
ce faire la valeur relative de différentes obligations. Grâce à l’expertise du Gestionnaire de portefeuille en matière de recherche et de négociation, l’équipe cherche à investir dans des titres dont le cours est plus élevé que
ses homologues plutôt que de s’attacher à un taux d’intérêt prédisant un rendement excédentaire. L’équipe expérimentée d’analystes municipaux du Gestionnaire de portefeuille s’efforce d’identifier des titres de créance
qualifiés de « stables-à-progressant » par une recherche
indépendante menée régulièrement auprès de centaines d’émetteurs. Les analystes de crédit couvrent à la fois les nouvelles émissions et les émissions du marché
secondaire et font des recommandations sur les secteurs et les titres en fonction des fondamentaux de crédit, des
conditions de marché et des opinions des agences de notation externes. Fondées sur l’analyse précitée effectuée par le Gestionnaire de portefeuille, les décisions de vente de titres s’appuient sur la baisse
prévue des perspectives des fondamentaux de crédit d’un émetteur et l’identification de titres présentant un cours
anormalement élevé.

##### Règlement sur la publication d’informations en matière de finance durable
La gestion du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents, il évalue le risque qu’un événement ou une
condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Dans le cadre du processus ascendant de recherche de titres, le Gestionnaire de portefeuille évalue les facteurs ESG de chaque investissement pour déterminer les risques potentiels en matière de durabilité. La recherche sur le crédit interne que mène le Gestionnaire de portefeuille inclut les évaluations et notations ESG établies en interne et est complétée par les rapports des agences de notation de crédit, les études sell-side et les événements relatifs au secteur concerné. Cette recherche
sur les risques en matière de durabilité est prise en compte, de même que d’autres analyses fondamentales, dans le processus de sélection de titres.
Le Gestionnaire de portefeuille évalue également les pratiques de gouvernance des émetteurs par le biais
d’une recherche fondamentale, notamment en ce qui
concerne de saines structures de direction, les pratiques de communication des informations financières, la
gestion du financement des retraites, les programmes d’amélioration de la structure du capital et les politiques de cybersécurité.
Le Gestionnaire de portefeuille contrôle régulièrement les facteurs de risque en matière de durabilité en procédant à des examens du portefeuille.
Comme expliqué ci-dessus, la gestion et l’évaluation des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours possible qu’un Événement ESG ait une incidence négative
importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du régime des principales incidences négatives prévu à
l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire
soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs
de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du
régime en matière de reporting. Le Gestionnaire continue d’analyser les données disponibles qui seraient nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins
d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur taux d’intérêt (y compris contrats à terme standardisés sur obligations) |
| --- | --- |
| Options | Options sur taux d’intérêt Swaptions Options sur obligations (y compris obligations TOB) |
| Contrats à terme | Contrats de change à terme |
| Swaps | Swaps de taux d’intérêt Swaps de défaut de crédit |
| Titres avec IFD intégrés/effet de levier | Titres adossés à des actifs (ABS) Titres adossés à des créances hypothécaires (MBS) Titres liés à un risque de crédit (CLN) Obligations structurées |

Une liste des Marchés éligibles sur lesquels les IFD peuvent être cotés ou négociés est exposée à l’Annexe II du Prospectus.
De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices financiers suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne
peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de taux d’intérêt utilisés pour offrir une exposition aux marchés de taux d’intérêt et exprimer le point de vue des Gestionnaires de portefeuille selon lequel la courbe de rendement évoluera dans une direction particulière, d’une manière plus rentable ou plus efficiente qu’avec l’achat de titres physiques. | SOFR SONIA |

Ces indices financiers seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages, les coûts
associés ou la pondération des actions de l’indice
financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

#### Enregistrement à Hong Kong
Ce Compartiment est enregistré à la vente à Hong Kong.

#### Enregistrement à Taïwan
Ce Compartiment est enregistré à la vente à Taïwan.
Exposition globale et effet de levier 
Méthodologie de calcul de l’exposition globale : VaR absolue
Limite de VaR absolue : 20 % de la Valeur liquidative du Compartiment (sur la base d’une période de détention de 20 Jours ouvrables)
L’effet de levier brut devrait varier entre : 0 – 200 % de la Valeur liquidative. L’effet de levier brut peut toutefois dépasser ce niveau cible à certains moments.
Pour plus d’informations sur l’approche de la VaR absolue et l’Effet de levier brut, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».
Le Réglementation OPCVM de la Banque centrale prévoit
que lorsque la VaR est utilisée comme approche de gestion du risque, elle peut être complétée d’un calcul de l’effet de levier par le biais de l’approche par les engagements.
Effet de levier maximum : 40 % de la Valeur liquidative (sur la base de l’approche par les engagements)
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés,
options, swaps, contrats sur différence, titres avec IFD intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des OFT, c’est à
dire des accords de prêt de titres et des accords de
mise/prise en pension, comme décrit sous la rubrique
« Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et aux OFT correspondent respectivement à 100 % et 100 %
de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux TRS excède 10 % de sa Valeur liquidative, et 15 % pour les OFT. Les types d’actifs qui feront l’objet de TRS et OFT seront les titres
dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les TRS et les OFT
ainsi que les garanties acceptables sont fournis aux rubriques du Prospectus intitulées « Annexe III – Gestion des garanties », « Annexe III – Recours à des accords de mise/prise en pension et accords de prêt de titres »,
« Gestion efficace de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 GBP, 1 EUR, 1 CHF, 1 SGD ou 1 AUD,
selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) portant le suffixe (« M »), les dividendes seront normalement déclarés chaque mois, le dernier Jour
ouvrable du mois. Concernant les détenteurs d’Actions de
distribution mensuelle, les dividendes déclarés leur
seront normalement versés au plus tard le 20 du mois suivant. Pour toutes les autres catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les
dividendes seront normalement déclarés semestriellement les 31 décembre et 30 juin. Concernant
les détenteurs d’Actions de distribution, les dividendes
déclarés leur seront normalement versés au plus tard le
11 février et le 11 août. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Dynamic U.S. Equity Fund

### SUPPLÉMENT 36, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut investir principalement dans des IFD et utilisera ces IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. L’utilisation des IFD à des fins d’investissement peut être très répandue. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci-après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- La Valeur liquidative du Compartiment peut faire l’objet d’une volatilité élevée en raison de sa politique d’investissement.


#### Gestionnaire de portefeuille
Newton Investment Management North America LLC

#### Gestionnaire de portefeuille délégué
Le Gestionnaire d’investissement peut déléguer certaines ou la totalité de ses fonctions de gestion d’investissement eu égard au présent Compartiment à Newton Investment Management Limited (le
« Gestionnaire de portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique « Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée occasionnellement par les Administrateurs, à condition
que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’Heure limite de négociation des demandes de souscription, de rachat ou d’échange est fixée à 17 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale
et le niveau des commissions et frais prélevés. Les catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD A (Cap.) | USD | 5 000 | 5 % | 0,80 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 0,80 % | 0 % |
| EUR A (Cap.) | EUR | 5 000 | 5 % | 0,80 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 0,80 % | 0 % |
| Sterling A (Cap.) | GBP | 5 000 | 5 % | 0,80 % | 0 % |
| Sterling A (Dist.) | GBP | 5 000 | 5 % | 0,80 % | 0 % |
| CHF H (Cap.) | CHF | 5 000 | 5 % | 0,80 % | 0 % |
| CHF H (Dist.) | CHF | 5 000 | 5 % | 0,80 % | 0 % |
| Euro H (Cap.) (couverte) | EUR | 5 000 | 5 % | 0,80 % | 0 % |
| Euro H (Dist.) (couverte) | EUR | 5 000 | 5 % | 0,80 % | 0 % |
| Sterling H (Cap.) (couverte) | GBP | 5 000 | 5 % | 0,80 % | 0 % |
| Sterling H (Dist.) (couverte) | GBP | 5 000 | 5 % | 0,80 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| CHF H (Cap.) (couverte) | CHF | 5 000 | 5 % | 0,80 % | 0 % |
| CHF H (Dist.) (couverte) | CHF | 5 000 | 5 % | 0,80 % | 0 % |
| SEK H (Cap.) (couverte) | SEK | 50 000 | 5 % | 0,80 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 0,60 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 0,60 % | 0 % |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 0,60 % | 0 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 0,60 % | 0 % |
| Sterling G (Cap.) | GBP | 5 000 | 5 % | 0,60 % | 0 % |
| Sterling G (Dist.) | GBP | 5 000 | 5 % | 0,60 % | 0 % |
| Euro G (Cap.) (couverte) | EUR | 5 000 | 5 % | 0,60 % | 0 % |
| Euro G (Dist.) (couverte) | EUR | 5 000 | 5 % | 0,60 % | 0 % |
| Sterling G (Cap.) (couverte) | GBP | 5 000 | 5 % | 0,60 % | 0 % |
| Sterling G (Dist.) (couverte) | GBP | 5 000 | 5 % | 0,60 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 0,60 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 0,60 % | 0 % |
| Euro C (Cap.) | EUR | 5 000 000 | 5 % | 0,60 % | 0 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 0,60 % | 0 % |
| Sterling C (Cap.) | GBP | 5 000 000 | 5 % | 0,60 % | 0 % |
| Sterling C (Dist.) | GBP | 5 000 000 | 5 % | 0,60 % | 0 % |
| CHF C (Cap.) | CHF | 5 000 000 | 5 % | 0,60 % | 0 % |
| CHF C (Dist.) | CHF | 5 000 000 | 5 % | 0,60 % | 0 % |
| CAD C (Cap.) | CAD | 5 000 000 | 5 % | 0,60 % | 0 % |
| CAD C (Dist.) | CAD | 5 000 000 | 5 % | 0,60 % | 0 % |
| Euro I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 0,60 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 0,60 % | 0 % |
| Sterling I (Cap.) (couverte) | GBP | 5 000 000 | 5 % | 0,60 % | 0 % |
| Sterling I (Dist.) (couverte) | GBP | 5 000 000 | 5 % | 0,60 % | 0 % |
| CHF I (Cap.) (couverte) | CHF | 5 000 000 | 5 % | 0,60 % | 0 % |
| CHF I (Dist.) (couverte) | CHF | 5 000 000 | 5 % | 0,60 % | 0 % |
| CAD I (Cap.) (couverte) | CAD | 5 000 000 | 5 % | 0,60 % | 0 % |
| CAD I (Dist.) (couverte) | CAD | 5 000 000 | 5 % | 0,60 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,40 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,40 % | 0 % |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,40 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,40 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,40 % | 0 % |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,40 % | 0 % |
| CHF W (Cap.) | CHF | 15 000 000 | 5 % | 0,40 % | 0 % |
| CHF W (Dist.) | CHF | 15 000 000 | 5 % | 0,40 % | 0 % |
| CAD W (Cap.) | CAD | 15 000 000 | 5 % | 0,40 % | 0 % |
| CAD W (Dist.) | CAD | 15 000 000 | 5 % | 0,40 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,40 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,40 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,40 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,40 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,40 % | 0 % |
| CHF W (Dist.) (couverte) | CHF | 15 000 000 | 5 % | 0,40 % | 0 % |
| CAD W (Cap.) (couverte) | CAD | 15 000 000 | 5 % | 0,40 % | 0 % |
| CAD W (Dist.) (couverte) | CAD | 15 000 000 | 5 % | 0,40 % | 0 % |
| SEK W (Cap.) (couverte) | SEK | 150 000 000 | 5 % | 0,40 % | 0 % |

| Actions « R » et Actions « R (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Commission de per- formance | Taux de rendement minimal |
| USD R (Cap.) | USD | 5 000 | 5 % | 0,60 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| USD R (Dist.) | USD | 5 000 | 5 % | 0,60 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| Euro R (Cap.) (couverte) | EUR | 5 000 | 5 % | 0,60 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| Euro R (Dist.) (couverte) | EUR | 5 000 | 5 % | 0,60 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| Sterling R (Cap.) (couverte) | GBP | 5 000 | 5 % | 0,60 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| Sterling R (Dist.) (couverte) | GBP | 5 000 | 5 % | 0,60 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| CHF R (Cap.) (couverte) | CHF | 5 000 | 5 % | 0,60 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| CHF R (Dist.) (couverte) | CHF | 5 000 | 5 % | 0,60 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |

| Actions « D » et Actions « D (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Commission de per- formance | Taux de rendement minimal |
| USD D (Cap.) | USD | 5 000 | 5 % | 0,40 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Commission de per- formance | Taux de rendement minimal |
| --- | --- | --- | --- | --- | --- | --- | --- |
| USD D (Dist.) | USD | 5 000 | 5 % | 0,40 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| Euro D (Cap.) (couverte) | EUR | 5 000 | 5 % | 0,40 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| Euro D (Dist.) (couverte) | EUR | 5 000 | 5 % | 0,40 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| Sterling D (Cap.) (couverte) | GBP | 5 000 | 5 % | 0,40 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| Sterling D (Dist.) (couverte) | GBP | 5 000 | 5 % | 0,40 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| CHF D (Cap.) (couvertes) | CHF | 5 000 | 5 % | 0,40 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| CHF D (Dist.) (couverte) | CHF | 5 000 | 5 % | 0,40 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| CAD D (Cap.) (couvertes) | CAD | 5 000 | 5 % | 0,40 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| CAD D (Dist.) (couverte) | CAD | 5 000 | 5 % | 0,40 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |

| Actions « S » et Actions « T (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Commission de per- formance | Taux de rendement minimal |
| USD S (Cap.) | USD | 5 000 000 | 5 % | 0,40 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| USD S (Dist.) | USD | 5 000 000 | 5 % | 0,40 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| Euro T (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 0,40 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| Euro T (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 0,40 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| Sterling T (Cap.) (couverte) | GBP | 5 000 000 | 5 % | 0,40 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| Sterling T (Dist.) (couverte) | GBP | 5 000 000 | 5 % | 0,40 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| CHF T (Cap.) (couverte) | CHF | 5 000 000 | 5 % | 0,40 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| CHF T (Dist.) (couverte) | CHF | 5 000 000 | 5 % | 0,40 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| CAD T (Cap.) (couverte) | CAD | 5 000 000 | 5 % | 0,40 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Commission de per- formance | Taux de rendement minimal |
| --- | --- | --- | --- | --- | --- | --- | --- |
| CAD T (Dist.) (couverte) | CAD | 5 000 000 | 5 % | 0,40 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |

| Actions « U » et Actions « U (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Commission de per- formance | Taux de rendement minimal |
| USD U (Cap.) | USD | 15 000 000 | 5 % | 0,20 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| USD U (Dist.) | USD | 15 000 000 | 5 % | 0,20 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| Euro U (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,20 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| Euro U (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,20 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| Sterling U (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,20 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| Sterling U (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,20 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| CHF U (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,20 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| CHF U (Dist.) (couverte) | CHF | 15 000 000 | 5 % | 0,20 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| CAD U (Cap.) (couverte) | CAD | 15 000 000 | 5 % | 0,20 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| CAD U (Dist.) (couverte) | CAD | 15 000 000 | 5 % | 0,20 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |

| Actions « F » et Actions « F (couvertes) »* |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Commission de per- formance | Taux de rendement minimal |
| USD F (Cap.) | USD | Comme convenu | 5 % | 0,10 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| USD F (Dist.) | USD | Comme convenu | 5 % | 0,10 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| Euro F (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,10 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| Euro F (Dist.) (couverte) | EUR | Comme convenu | 5 % | 0,10 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Commission de per- formance | Taux de rendement minimal |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sterling F (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,10 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| Sterling F (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,10 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| CHF F (Cap.) (couverte) | CHF | Comme convenu | 5 % | 0,10 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| CHF F (Dist.) (couverte) | CHF | Comme convenu | 5 % | 0,10 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| CAD F (Cap.) (couverte) | CAD | Comme convenu | 5 % | 0,10 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |
| CAD F (Dist.) (couverte) | CAD | Comme convenu | 5 % | 0,10 % | 0 % | 10 % | S&P 500 Net Total Return exprimé en USD |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD E (Cap.) | USD | Comme convenu | 5 % | 0,25 % | 0 % |
| USD E (Dist.) | USD | Comme convenu | 5 % | 0,25 % | 0 % |
| Euro E (Cap.) | EUR | Comme convenu | 5 % | 0,25 % | 0 % |
| Euro E (Dist.) | EUR | Comme convenu | 5 % | 0,25 % | 0 % |
| Sterling E (Cap.) | GBP | Comme convenu | 5 % | 0,25 % | 0 % |
| Sterling E (Dist.) | GBP | Comme convenu | 5 % | 0,25 % | 0 % |
| CHF E (Cap.) | CHF | Comme convenu | 5 % | 0,25 % | 0 % |
| CHF E (Dist.) | CHF | Comme convenu | 5 % | 0,25 % | 0 % |
| CAD E (Cap.) | CAD | Comme convenu | 5 % | 0,25 % | 0 % |
| CAD E (Dist.) | CAD | Comme convenu | 5 % | 0,25 % | 0 % |
| Euro E (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,25 % | 0 % |
| Euro E (Dist.) (couverte) | EUR | Comme convenu | 5 % | 0,25 % | 0 % |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,25 % | 0 % |
| Sterling E (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,25 % | 0 % |
| CHF E (Cap.) (couverte) | CHF | Comme convenu | 5 % | 0,25 % | 0 % |
| CHF E (Dist.) (couverte) | CHF | Comme convenu | 5 % | 0,25 % | 0 % |
| CAD E (Cap.) (couverte) | CAD | Comme convenu | 5 % | 0,25 % | 0 % |
| CAD E (Dist.) (couverte) | CAD | Comme convenu | 5 % | 0,25 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| CHF X (Cap.) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Dist.) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Cap.) | CAD | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Dist.) | CAD | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Cap.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Dist.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Cap.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Dist.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % |


#### Commission de performance
Outre la commission annuelle de gestion, le Gestionnaire sera en droit de percevoir une commission de performance annuelle (la « Commission de
performance ») sous réserve des conditions énoncées ci- dessous. Le taux auquel la Commission de performance sera appliquée est indiqué dans le tableau ci-dessus. La Commission de performance réduit la valeur de votre investissement et le revenu que vous percevez à ce titre.
La Commission de performance relative à chaque catégorie d’actions sera égale à un pourcentage (comme indiqué dans le tableau ci-dessus) du Rendement de la catégorie d’actions (comme défini ci-dessous) dépassant le Taux de rendement minimal (comme défini ci-dessous).
La Commission de performance sera calculée sur une période de douze mois clôturée le 31 décembre (la
« Période de calcul »). La première Période de calcul s’entend de la période débutant le Jour ouvrable qui suit immédiatement la fin de la Période d’offre initiale et se terminant au 31 décembre de la même année.
Le « Rendement de la catégorie d’actions » est calculé chaque Jour d’évaluation et correspond à la différence exprimée en pourcentage entre la Valeur liquidative ajustée ce Jour d’évaluation et la Valeur liquidative ajustée le Jour d’évaluation précédent.
La « Valeur liquidative ajustée » est la Valeur liquidative de la catégorie d’actions concernée (qui comprend un cumul pour l’ensemble des commissions et frais, y compris la commission annuelle de gestion et les frais d’exploitation et administratifs à la charge de la catégorie d’actions concernée, après ajustement selon les éventuelles distributions de dividendes), mais sans
déduction pour toute Commission de performance courue depuis le début de la Période de calcul.
Le « Taux de rendement minimal » est indiqué dans le tableau ci-dessus et est cohérent avec la politique
d’investissement du Compartiment. Un taux de
rendement minimal désigne donc le taux de rendement minimal qu’un fonds doit dépasser pour percevoir une commission de performance. Les performances passées du Compartiment par rapport à l’indice S&P 500
® 
Net Total Return Index sont indiquées dans le DICI de la catégorie d’actions concernée.
Le « Taux de rendement minimal » est calculé chaque Jour d’évaluation en prenant la différence, en pourcentage, entre le Taux de rendement minimal du Jour d’évaluation et celui du Jour d’évaluation précédent.
Chaque Jour d’évaluation, une Valeur liquidative ajustée est calculée pour chaque catégorie d’actions à laquelle s’applique la Commission de performance. Si le Rendement de la catégorie d’actions dépasse le Taux de
rendement minimal, une Commission de performance est
due.
Si le Rendement de la catégorie d’actions n’excède pas le Taux de rendement minimal, la Commission de
performance courue est réduite (mais ne peut pas être inférieure à zéro). La Commission de performance est
réduite d’un montant égal au pourcentage de la
commission de performance (comme défini dans le
tableau ci-dessus) de la sous-performance du Rendement de la catégorie d’actions par rapport au Taux de rendement minimal (le rendement négatif) multiplié
par les Actions émises. Si la Commission de performance courue est réduite à zéro, aucune nouvelle Commission de performance ne sera due tant que (i) le Rendement de
la catégorie d’actions cumulé n’excèdera pas le Taux de
rendement minimal cumulé depuis le début de la Période
de calcul.
Clause de récupération (clawback) : après une Période de calcul au cours de laquelle aucune Commission de
performance n’a été comptabilisée, aucune Commission de performance ne sera due jusqu’à ce que le Rendement de la catégorie d’actions cumulé (depuis le dernier Jour d’évaluation du dernier exercice comptable au cours
duquel une Commission de performance aura été
comptabilisée) dépasse le Taux de rendement minimal cumulé (depuis le dernier Jour d’évaluation du dernier exercice comptable au cours duquel une Commission de
performance aura été comptabilisée).
Si aucune Commission de performance n’a été comptabilisée depuis le lancement d’une catégorie d’actions, aucune Commission de performance ne sera due jusqu’à ce que le Rendement de la catégorie d’actions cumulé (depuis le lancement de cette catégorie d’actions) dépasse le Taux de rendement minimal cumulé depuis le lancement de cette catégorie d’actions.
L’intégration de la Commission de performance dans la Valeur liquidative par Action chaque Jour d’évaluation dépend de l’acceptabilité des souscriptions, rachats, échanges ou transferts.
Sont incluses dans le calcul de la Commission de performance les plus et moins-values réalisées et latentes à la fin de la période concernée. Ainsi les Commissions de performance peuvent être payées sur des plus-values latentes qui peuvent ne jamais être réalisées.
Une performance positive peut être générée par des mouvements de marché ainsi qu’une gestion active de portefeuille ; ceci peut mener à des situations où une
partie de la Commission de performance est payée sur la base des variations de marché.
Le calcul de la Commission de performance ne peut aucunement être manipulé et doit être vérifié par le Dépositaire.
La Commission de performance est calculée et cumulée chaque Jour d’évaluation et entièrement versée à terme échu, eu égard à chaque Période de calcul. Toute
Commission de performance due sera généralement payée dans les 30 Jours ouvrables suivant la fin de chaque Période de calcul, la date de rachat, la date de fusion (sous réserve des exigences de la Banque
centrale), la date d’expiration de la Convention de gestion
de portefeuille ou toute autre date de liquidation ou de cessation d’activité éventuelle de la Société ou du Compartiment.

##### Exemples pour comprendre le calcul de la commission de performance
Veuillez noter que le système de commission de performance permet de prélever une commission de performance dès lors que le Compartiment génère un rendement supérieur à celui du Taux de référence minimal, même si sa performance est globalement négative.
| Jour d’évalua- tion | Valeur liquida- tive ajustée à la fin de la Période de calcul | Taux de rendement mi- nimal exprimé en pence | Rendement ex- cédentaire ex- primé en pence* | Commission de performance** | Valeur liquida- tive à la fin de la Période de calcul | Exemple |
| --- | --- | --- | --- | --- | --- | --- |
| 31 décembre (premier exer- cice) | 105 p | 102 p | 3 p | 0,3 p | 104,7 p | La performance sur la Période de calcul a donné lieu à une Valeur liquidative ajustée de 105 pence à la fin du premier exercice, dépassant ainsi le Taux de rendement minimal établi à 102 pence et impliquant un Rendement excédentaire positif de 3 pence. Par conséquent, une commission de performance de 0,30 p a été payée. |
| 31 décembre (deuxième exer- cice) | 95 p | 106 p | 0 p | 0 p | 95 p | La performance sur la Période de calcul a donné lieu à une Valeur liquidative ajustée de 95 p à la fin du deuxième exercice, soit un niveau inférieur au Taux de rendement minimal établi à 106 p. Par conséquent, aucune commission de performance n’a été payée. |
| 31 décembre (troisième exer- cice) | 104 p | 105 p | 0 p | 0 p | 104 p | La performance sur la Période de calcul a donné lieu à une Valeur liquidative ajustée de 104 p à la fin du troisième exercice, soit un niveau inférieur au Taux de rendement minimal établi à 105 p. Par conséquent, aucune commission de performance n’a été payée. |

| Jour d’évalua- tion | Valeur liquida- tive ajustée à la fin de la Période de calcul | Taux de rendement mi- nimal exprimé en pence | Rendement ex- cédentaire ex- primé en pence* | Commission de performance** | Valeur liquida- tive à la fin de la Période de calcul | Exemple |
| --- | --- | --- | --- | --- | --- | --- |
| 31 décembre (quatrième exer- cice) | 110 p | 108 p | 2 p | 0,20 p | 109,8 p | La performance sur la Période de calcul a donné lieu à une Valeur liquidative ajustée de 110 p à la fin du quatrième exercice, dépassant ainsi le Taux de rendement minimal établi à 108 p et impliquant un Rendement excédentaire positif de 2 p. Par conséquent, une commission de performance de 0,20 p a été payée. |

*Le Rendement excédentaire correspond à la surperformance du Rendement de la catégorie d’actions par rapport au Taux de rendement minimal
** 10 % de Rendement excédentaire

#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment a pour objectif de surperformer l’indice S&P 500
® 
Net Total Return (l’« Indice ») avec un niveau de volatilité similaire à celui de l’Indice, sur une période de trois à cinq ans, avant déduction des commissions et
frais.

##### Politique d’investissement
Le Compartiment vise à réaliser son objectif d’investissement en investissant l’essentiel de sa Valeur liquidative dans des actions américaines comprises dans l’Indice. Le Compartiment investira plus de 50 % de sa Valeur liquidative directement dans les composantes de l’Indice et pourra également investir indirectement dans
les composantes de l’Indice via des IFD. Le Compartiment peut aussi s’exposer à des titres de créance américains,
comme expliqué plus en détail ci-dessous, et détiendra
des actifs liquides ou quasi liquides, comme précisé à la section relative à la « Gestion de la liquidité et des garanties » ci-dessous.
Le Compartiment s’exposera à l’Indice en investissant directement dans les actions sous-jacentes qui composent l’Indice et indirectement par le biais d’IFD (comme exposé ci-dessous). L’Indice représente le marché d’actions américain et se compose d’un grand
nombre de secteurs de l’économie de ce pays. L’Indice s’inscrit dans la stratégie d’investissement du Compartiment, car il représente le marché d’actions
américain. Il est rééquilibré tous les trois mois.
Cependant, comme le Compartiment ne vise pas à reproduire ou répliquer l’Indice, il ne sera pas nécessairement touché par les rééquilibrages, les coûts
associés ou la pondération des actions de l’Indice qui ne respecterait pas les restrictions d’investissement fixées. Vous trouverez de plus amples informations concernant l’Indice sur le site www.standardandpoors.com.
Le Compartiment investira directement dans des titres de créance et apparentés (bons du Trésor et obligations) pouvant être à taux fixe ou variable et émis ou garantis par le gouvernement des États-Unis ou ses agences, des entreprises ou toutes autres sociétés commerciales (ci- après, les « Titres de créance et apparentés »). Les Titres de créance et apparentés dans lesquels le Compartiment investit doivent être des titres de qualité investment
grade tel que déterminé par une Agence de notation reconnue, ou des titres non notés, mais considérés comme étant de qualité investment grade par le
Gestionnaire de portefeuille au moment de l’achat. Le
Compartiment peut également acquérir une exposition
aux Titres de créance et apparentés en utilisant des IFD, tel que décrit à la rubrique « Utilisation d’IFD » ci- dessous.
Le Compartiment n’investira pas plus de 10 % de sa Valeur liquidative dans des titres émis ou garantis par un seul pays dont la notation de crédit est inférieure à
investment grade. Afin de lever toute ambiguïté, il est précisé qu’un « seul pays » désigne un pays, son gouvernement, une autorité publique ou locale ainsi que
les industries nationalisées du pays en question.
Le Compartiment peut utiliser des positions courtes synthétiques, un effet de levier et des options comme outils de gestion défensive du risque, mais également pour générer des rendements positifs lorsque les cours baissent. En fonction de la stratégie du Compartiment, le Gestionnaire de portefeuille peut utiliser des positions courtes synthétiques pour vendre à découvert des bons
du Trésor américain. L’importance des positions courtes
adoptées par le Compartiment dépendra par conséquent des perspectives d’investissement du Gestionnaire de portefeuille ou du niveau de risque du Compartiment.
L’importance des positions courtes reflétera les objectifs
de volatilité et de risque du Compartiment. Pour tout complément d’information, veuillez vous reporter à la section « Positions longues et courtes ».
Le Compartiment pourra investir jusqu’à 10 % de sa Valeur liquidative dans des organismes de placement collectif (« OPC »), comme décrit plus en détail ci-après.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative au total dans des valeurs mobilières ou des
instruments du marché monétaire qui ne sont pas admis à la cote officielle d’une Bourse de valeurs ni négociés sur un Marché éligible, conformément à la
Réglementation OPCVM, y compris, mais sans que cette liste soit limitative, dans des actions non cotées et des Titres de créance et apparentés.
À l’exception des investissements autorisés dans des titres non cotés et dans des organismes de placement
collectif à capital variable, le Compartiment investira
dans des actifs (y compris des IFD) cotés ou négociés sur les Marchés éligibles repris dans l’Annexe II du Prospectus.

##### Organismes de placement collectif
Le Compartiment peut également poursuivre ses objectifs et politiques en prenant des positions dans des OPC, avec un plafond de 10 % de sa Valeur liquidative. Tout investissement dans des ETF à capital variable sera soumis au plafond de 10 % cité ci-dessus, et tout investissement dans des ETF à capital fixe constituera un investissement dans une valeur mobilière conformément aux exigences de la Banque centrale. Les OPC dans lesquels le Compartiment investit peuvent également être gérés par le Gestionnaire de portefeuille ou ses entités affiliées.

##### Gestion de la liquidité et des garanties
Le Compartiment peut également détenir des niveaux élevés d’actifs liquides et quasi liquides dans certaines circonstances. Il se peut, par exemple, que les conditions du marché requièrent l’adoption d’une stratégie
d’investissement défensive, mais le Compartiment peut
également détenir du numéraire en dépôt en attente de réinvestissement, pour financer le rachat d’actions ou le paiement de frais ou afin de fournir des garanties pour les contrats d’IFD.
Les actifs quasi liquides peuvent comprendre des Titres de créance et apparentés ainsi que des dépôts bancaires. Il est prévu que les émetteurs et/ou garants de tous ces titres et instruments auront une notation de crédit, au
moment de l’achat, au moins égale à A1/P1 (ou son
équivalent) publiée par une Agence de notation reconnue, ou seront jugés être d’une qualité équivalente par le Gestionnaire de portefeuille.

##### Indice de référence
S&P 500
® 
Net Total Return Index (l’« Indice ») L’Indice est largement considéré comme le meilleur indicateur unique des actions américaines à forte
capitalisation. Plus de 9 900 milliards d’USD sont indexés ou référencés par rapport à l’indice, les actifs indexés représentant environ 3,4 billions d’USD de ce total.
L’indice inclut 500 sociétés leader et couvre
approximativement 80 % de la capitalisation boursière
disponible.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour sélectionner les investissements sur la base de l’objectif et de la politique d’investissement. Les titres de capital du Compartiment seront des composantes de l’Indice. La stratégie d’investissement permet au Gestionnaire de portefeuille d’avoir une certaine flexibilité pour s’écarter des positions de l’Indice tout en conservant une volatilité similaire à celle de l’indice de référence sur 5 ans.

##### Stratégie d’investissement
La stratégie de gestion dynamique des actions américaines adoptée par le Gestionnaire de portefeuille est basée sur son travail pionnier dans les domaines de
l’indexation et de l’évaluation fondamentale. Le
Gestionnaire de portefeuille utilise la méthode suivante pour comparer l’attrait relatif des actions, obligations et liquidités en vue de sélectionner ses investissements :
Étape 1 : Prévoir le rendement futur des actions, obligations et liquidités au sein de l’univers d’investissement du Compartiment en se basant sur les
anticipations à long terme des bénéfices sur actions, du rendement des obligations et des taux d’intérêt des comptes bancaires.
Étape 2 : Prévoir les performances des actions, obligations et liquidités les unes par rapport aux autres dans diverses conditions du marché.
Étape 3 : Combiner les prévisions liées au rendement des Étapes 1 et 2 en vue d’obtenir un portefeuille de positions présentant les meilleures caractéristiques
possibles en termes de risque et de rendement.
Étape 4 : Le Gestionnaire de portefeuille recherchera les titres les plus rentables à priori pour mettre en œuvre le portefeuille obtenu à l’Étape 3. Les titres en question peuvent inclure des titres physiques et des IFD. Pour
obtenir des informations plus détaillées, veuillez consulter la section « Utilisation d’IFD » ci-dessous.
Étape 5 : Afin de gérer la volatilité du portefeuille aux niveaux requis, le Gestionnaire de portefeuille surveille les mouvements du marché à plus court terme et les
adapte à ses perspectives d’investissement. En cas de
volatilité accrue des marchés ou de probable récession,
le Gestionnaire de portefeuille sélectionnera des investissements visant à réduire le risque du Compartiment.
Étape 6 : Surveiller le portefeuille quotidiennement. Le Gestionnaire de portefeuille répète cette procédure chaque Jour ouvrable afin de détecter tout changement en matière de rendement ou de risque.
À l’aide de ce processus, le Gestionnaire de portefeuille cherche à identifier les périodes durant lesquelles les
actions semblent bon marché ou chères par rapport à d’autres expositions (par ex., les obligations et les liquidités) afin de choisir ses actifs. Si les actions
semblent bon marché par rapport aux autres expositions, le Gestionnaire de portefeuille surpondérera les actions à
l’aide de quelques leviers financiers. Si les actions
semblent chères, le Gestionnaire de portefeuille les sous- pondérera, mais il continuera d’investir plus de la moitié de la valeur liquidative du Compartiment dans des
actions physiques ou des IFD apparentés à des actions. Le levier financier peut aussi être utilisé à des fins de gestion des risques. Exemple : en achetant sur marge des
obligations du Trésor américain. L’exposition aux
obligations du Trésor américain devrait atténuer les
effets de la baisse des cours des actions américaines sur le portefeuille. En résumé, le Gestionnaire de portefeuille répartit activement les actifs dans des actions américaines, des bons du Trésor américain et le marché monétaire américain en fonction de ses prévisions en matière de rendement, de risque et de corrélation.

##### Règlement sur la publication d’informations en matière de finance durable
Du fait de l’objectif d’investissement du Compartiment, le Gestionnaire de portefeuille n’intègre pas les risques en matière de durabilité (qui sont définis comme un
événement ou une condition ESG qui, en cas de
survenance, pourrait avoir un impact négatif réel ou potentiel important sur la valeur de l’investissement concerné [un « Événement ESG »]) dans ses décisions d’investissement. le Gestionnaire de portefeuille est
contraint d’allouer les actifs du Compartiment aux
actions américaines pour maintenir une volatilité similaire à celle de l’Indice sur 5 ans et, par conséquent, dispose d’une flexibilité limitée pour s’écarter du positionnement de l’Indice en question. L’Indice ne prend
pas en compte les facteurs ESG ni les risques en matière de durabilité. Toutefois, en raison de la nature diversifiée du Compartiment, le Gestionnaire de portefeuille a déterminé que le risque en matière de durabilité était minimal.
Le Gestionnaire a prudemment évalué les exigences du régime des principales incidences négatives prévu à
l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire
soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs
de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins
d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur indices boursiers Contrats à terme standardisés sur obligations |
| --- | --- |
| Options | Options sur actions (valeur individuelle, indice, secteur, panier personnalisé) Options sur obligations Options sur contrats à terme standardisés d’actions Options sur contrats à terme standardisés d’obligations |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices financiers suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne
peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices d’actions utilisés pour offrir une exposition aux marchés de titres régionaux et mondiaux de manière plus rentable ou plus efficace que par l’achat de titres physiques. | S&P 500 NR Index |

Ces indices financiers seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas
directement affecté par les rééquilibrages, les coûts associés ou la pondération des actions de l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

##### Positions longues et courtes
Le Compartiment peut construire des expositions
synthétiques longues et synthétiques courtes dans chacune des classes d’actifs référencées dans la Politique d’investissement pour atteindre son objectif d’investissement. L’exposition longue brute totale par le biais d’IFD ne devrait pas excéder 200 % de la Valeur liquidative du Compartiment et l’exposition courte brute totale par le biais d’IFD ne devrait pas excéder 150 % de
la Valeur liquidative du Compartiment.

#### Enregistrement en Allemagne
Ce Compartiment est enregistré à la vente en Allemagne. Le Compartiment est classé en tant que Fonds
d’investissement aux fins de l’impôt allemand et, à ce
titre, il investira en permanence plus de 50 % de ses actifs en actions au sens de l’Article 2, paragraphe 8 de la Loi allemande sur la fiscalité des investissements.
Exposition globale et effet de levier 
Méthodologie de calcul de l’exposition globale : VaR relative
Limite de VaR relative : Le portefeuille du Compartiment ne dépassera pas le double de la VaR d’un portefeuille de référence représentatif (sur la base d’une période de détention de 5 Jours ouvrables).
Indice de référence de la VaR relative : S&P 500 NR Index
L’effet de levier brut devrait varier entre : 100 – 500 % de la Valeur liquidative. L’effet de levier brut peut toutefois dépasser ce niveau cible à certains moments.
Pour plus d’informations sur l’approche de la VaR absolue et l’Effet de levier brut, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 GBP, 1 EUR, 1 CAD, 1 CHF ou 10 SEK,
selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action
de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant, applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront
normalement déclarés le 31 décembre de chaque année. Concernant les détenteurs d’Actions de distribution, les dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont
définis à la rubrique « Gestion et administration de la Société – Commissions et frais » du Prospectus. La commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Global Unconstrained Fund

### SUPPLÉMENT 37, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Newton Investment Management Limited

#### Gestionnaire de portefeuille délégué
Le Gestionnaire de portefeuille peut déléguer certaines ou la totalité de ses fonctions de gestion
d’investissement eu égard au présent Compartiment à
Newton Investment Management North America LLC (le
« Gestionnaire de portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique « Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée occasionnellement par les Administrateurs, à condition
que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale
et le niveau des commissions et frais prélevés. Les catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD A (Dist.) | USD | 5 000 | 5 % | 1,50 % | 0 % |
| USD A (Cap.) | USD | 5 000 | 5 % | 1,50 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| EUR A (Cap.) | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| Sterling A (Dist.) | GBP | 5 000 | 5 % | 1,50 % | 0 % |
| Sterling A (Cap.) | GBP | 5 000 | 5 % | 1,50 % | 0 % |
| Euro H (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| Euro H (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| Sterling H (Dist.) (couverte) | GBP | 5 000 | 5 % | 1,50 % | 0 % |
| Sterling H (Cap.) (couverte) | GBP | 5 000 | 5 % | 1,50 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Dist.) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Cap.) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Dist.) (couverte) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Cap.) (couverte) | GBP | 5 000 | 5 % | 1,00 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro C (Cap.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling C (Dist.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling C (Cap.) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling I (Dist.) (couverte) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |
| Sterling I (Cap.) (couverte) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Cap.) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Dist.) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Dist.) (couverte) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| CAD W (Cap.) (couverte) | CAD | 15 000 000 | 5 % | 0,75 % | 0 % |
| CAD W (Dist.) (couverte) | CAD | 15 000 000 | 5 % | 0,75 % | 0 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD E (Cap.) | USD | Comme convenu | 5 % | 0,55 % | 0 % |
| USD E (Dist.) | USD | Comme convenu | 5 % | 0,55 % | 0 % |
| Euro E (Cap.) | EUR | Comme convenu | 5 % | 0,55 % | 0 % |
| Euro E (Dist.) | EUR | Comme convenu | 5 % | 0,55 % | 0 % |
| Sterling E (Cap.) | GBP | Comme convenu | 5 % | 0,55 % | 0 % |
| Sterling E (Dist.) | GBP | Comme convenu | 5 % | 0,55 % | 0 % |
| CHF E (Cap.) | CHF | Comme convenu | 5 % | 0,55 % | 0 % |
| CHF E (Dist.) | CHF | Comme convenu | 5 % | 0,55 % | 0 % |
| Euro E (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,55 % | 0 % |
| Euro E (Dist.) (couverte) | EUR | Comme convenu | 5 % | 0,55 % | 0 % |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,55 % | 0 % |
| Sterling E (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,55 % | 0 % |
| CHF E (Cap.) (couverte) | CHF | Comme convenu | 5 % | 0,55 % | 0 % |
| CHF E (Dist.) (couverte) | CHF | Comme convenu | 5 % | 0,55 % | 0 % |
| CAD E (Cap.) (couverte) | CAD | Comme convenu | 5 % | 0,55 % | 0 % |
| CAD E (Dist.) (couverte) | CAD | Comme convenu | 5 % | 0,55 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Cap.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Dist.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
L’objectif du Compartiment est d’assurer aux investisseurs un rendement total composé d’une croissance du capital à long terme et de revenu grâce à
une approche multi-actifs dynamique et peu contraignante en termes d’allocation d’actifs et de sélection de titres.

##### Politique d’investissement
Le Compartiment est un fonds mondial composé de
divers actifs qui cherche à atteindre son objectif grâce à une allocation d’actifs dynamique et non contraignante.
Le Compartiment peut investir dans des actions et titres apparentés (actions ordinaires et actions privilégiées, certificats représentatifs de titres américains et
certificats représentatifs de titres internationaux, titres convertibles ou échangeables pour ce type d’actions, bons de souscription et droits de souscription d’actions), ainsi que dans des IFD sur actions, énoncés sous la
rubrique « Utilisation d’IFD » ci-dessous.
Le Compartiment peut aussi investir dans des Titres de créance et apparentés (débentures, dépôts, billets dont
billets de sociétés et souverains, à taux variable et fixe, d’une durée minimum d’un an, titres adossés à des actifs [ABS], titres adossés à des créances hypothécaires [MBS]
et obligations, à taux fixe ou variable, émis ou garantis par un gouvernement souverain ou ses agences, des collectivités locales, des organismes supranationaux ou publics internationaux, des banques, des sociétés ou tous autres émetteurs commerciaux [ci-après, les « Titres
de créance et apparentés »]) et dans des IFD de créance, comme énoncé à la section intitulée « Utilisation d’IFD » ci-dessous.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des CoCo. Veuillez consulter la section
du Prospectus intitulée « Risque lié aux titres convertibles conditionnels (« CoCo ») pour plus de détails sur les risques associés aux CoCo.
Les Titres de créance et apparentés détenus par le Compartiment peuvent être de qualité investment grade ou inférieure, ou non notés. Le Gestionnaire de portefeuille considère les titres de qualité inférieure à investment grade comme étant ceux dont la notation de
crédit est inférieure à BBB- à la date d’achat, telle qu’attribuée par une Agence de notation reconnue. Le Compartiment peut investir plus de 30 % de sa Valeur
liquidative dans des Titres de créance et apparentés de qualité inférieure à investment grade.
Le Compartiment peut investir plus de 10 % et jusqu’à 35 % de sa Valeur liquidative dans des Titres de créance
et apparentés émis et/ou garantis par un même émetteur souverain (y compris son gouvernement et les autorités publiques ou locales) de qualité inférieure à investment grade (c.-à-d. BB+ ou moins), tel que déterminé par une
Agence de notation reconnue. Le Brésil, l’Indonésie et la Hongrie sont des exemples d’émetteurs souverains. Ces investissements sont basés sur l’appréciation professionnelle du Gestionnaire de portefeuille, dont les motifs d’investissement peuvent inclure des perspectives positives/favorables pour l’émetteur souverain, une possible amélioration de la notation et des variations
attendues de la valeur de ces investissements en raison des changements de notations. Veuillez noter que la notation des émetteurs souverains peut changer de temps à autre et que les émetteurs souverains susmentionnés servent uniquement de référence et peuvent changer en même temps que leur notation.
Le Compartiment peut également investir dans des matières premières, de l’immobilier et des infrastructures par le biais d’organismes de placement collectif (« OPC ») et de titres cotés ou négociés sur des Marchés éligibles
tels que des sociétés d’investissement immobilier
(« REIT ») et des fonds négociés en Bourse (« ETF »). Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative totale dans des OPC, y compris des fonds
monétaires.
Le Compartiment peut investir à l’échelle mondiale et, bien qu’il n’ait pas d’orientation géographique, industrielle ou sectorielle privilégiée, il peut parfois se
concentrer sur une industrie ou des secteurs particuliers, dont les pays émergents et les États-Unis. Le Compartiment peut investir plus de 40 % de sa Valeur liquidative dans des pays émergents, y compris la Russie. Toutefois, seulement 20 % de la Valeur liquidative du Compartiment sera investi dans des titres cotés ou négociés en Russie ou en Ukraine. Le Compartiment peut uniquement investir dans des titres russes négociés sur la Bourse de Moscou. En ce qui concerne les investissements dans les pays émergents, le Gestionnaire de portefeuille écartera explicitement les entreprises figurant sur les listes de sanctions internationales et autres. Dans certaines circonstances, le Compartiment peut également détenir des niveaux élevés de liquidités,
des équivalents (p. ex., des certificats de dépôt et des instruments de créance à court terme) et d’instruments du marché monétaire (p. ex., des billets de trésorerie et des obligations d’État à taux fixe ou variable). Il se peut,
par exemple, que le Gestionnaire de portefeuille estime
que les marchés sont surévalués ou que les conditions du marché nécessitent une stratégie d’investissement défensive. Néanmoins, le Compartiment peut également
détenir du numéraire en dépôt en attente de réinvestissement, pour financer le rachat d’actions ou le paiement de frais ou afin de fournir des garanties pour les contrats d’IFD.
À l’exception des investissements autorisés dans des titres non cotés et des OPC à capital variable, les
investissements du Compartiment dans des titres et des IFD seront cotés ou négociés sur des Marchés éligibles
énumérés à l’Annexe II du Prospectus.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des Titres de créance et apparentés en République populaire de Chine (« RPC ») négociés sur le
marché obligataire interbancaire chinois (« CIBM ») via le
programme Bond Connect (décrit plus en détail à l’Annexe VI du Prospectus).
L’achat d’actions A chinoises via le Stock Connect est l’une des méthodes utilisées par le Compartiment pour acquérir une exposition aux titres chinois. Le Compartiment peut investir jusqu’à 10 % de sa Valeur
liquidative dans des actions chinoises de classe A par le
biais du Stock Connect. Le programme Stock Connect est présenté plus en détail dans l’Annexe V du Prospectus.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des Obligations structurées.

##### Indice de référence
L’indice mixte composé à 60 % de l’indice MSCI AC World NR Index et à 40 % de l’indice JP Morgan Global GBI Unhedged TR Index (l’« Indice de référence mixte »).
L’indice MSCI All Countries World couvre la plupart des possibilités sur la scène mondiale en termes d’actions investissables et représente un indicateur exhaustif des
performances du marché mondial des actions.
L’indice JP Morgan Global Bond (GBI) libellé en USD représente les titres d’État à taux fixe. Il mesure le rendement total des investissements réalisés sur un
certain nombre de marchés développés des obligations d’État.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence mixte.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour investir en dehors de l’Indice de référence mixte sur la base de l’objectif et de la politique d’investissement. Bien que les avoirs du Compartiment puissent inclure des
composantes de l’Indice de référence mixte, la sélection
des investissements et leurs pondérations dans le portefeuille ne sont pas influencées par l’indice en question. La stratégie d’investissement ne limite pas la mesure dans laquelle le Gestionnaire de portefeuille peut
s’écarter de l’Indice de référence mixte.

##### Stratégie d’investissement
Le Compartiment est un portefeuille mondial multi-actifs sans contraintes. Les allocations seront à la discrétion du
Gestionnaire de portefeuille et seront réparties entre les classes d’actifs décrites ci-dessus. Le Compartiment n’est pas tenu de se concentrer sur une zone géographique, une entreprise ou un secteur donné(e) pour construire son exposition aux classes d’actifs. Par
conséquent, le Compartiment peut investir entièrement dans des instruments de capitaux propres et titres
apparentés, dans des Titres de créance et apparentés, ou dans n’importe quelle combinaison de toutes les classes d’actifs décrites ci-dessus sous la rubrique « Politique d’investissement ».
Le Gestionnaire de portefeuille estime qu’aucune société, aucun marché et aucune économie ne peuvent être
considérés isolément, chacun de ces éléments devant être examiné dans un contexte global. Le Gestionnaire de portefeuille estime que les événements qui surviennent dans le monde influent sur tous les marchés financiers et que, par conséquent, un investissement réussi dans des titres à la diversification internationale implique de bien comprendre le monde dans son ensemble.
Le processus d’investissement du Gestionnaire de portefeuille combine plusieurs thèmes d’investissement, une analyse fondamentale et la valorisation des titres.
Les thèmes visent à identifier les changements majeurs
au niveau international, ce qui permet de replacer l’analyse des investissements et la prise de décision dans le contexte. Ils aident également le Gestionnaire de
portefeuille à identifier les opportunités éventuelles et les risques potentiels eu égard à la classe d’actifs et aux titres concernés. L’analyse fondamentale et la prise en considération des valorisations des titres par le
Gestionnaire de portefeuille permettent ensuite de définir une liste d’investissements potentiels pour le Compartiment. Lorsqu’il investit dans des titres, le Gestionnaire de portefeuille prend en compte les effets
de ces investissements sur l’ensemble du Compartiment, comme le niveau d’exposition à une classe d’actifs, l’encours de chaque position de titre et les caractéristiques du risque d’investissement des titres
eux-mêmes.

##### Règlement sur la publication d’informations en matière de finance durable
La prise en compte du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque
en matière de durabilité associé aux investissements sous-jacents, il évalue le risque qu’un événement ou une condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Le Gestionnaire de portefeuille a accès à diverses catégories de données ESG fournies par des tiers, qui
permettent d’identifier les problèmes ESG potentiels
auxquels un émetteur peut être confronté. Cela inclut, entre autres, l’exposition à des activités pouvant être considérées comme nocives pour l’environnement ou la société. Ces données, ainsi que celles obtenues par le
Gestionnaire de portefeuille dans le cadre de sa propre recherche sur l’investissement responsable, constituent une part importante de la prise en compte et de l’évaluation du niveau de risque en matière de durabilité auquel un investissement peut être soumis.
Cette évaluation est intégrée au processus de recherche au niveau des titres, qui repose sur l’analyse fondamentale des opportunités d’investissement individuelles à travers un certain nombre de facteurs
différents, notamment :
- les caractéristiques financières ou économiques fondamentales ;
- l’évaluation ;
- le profil risque/rendement ; et
- les caractéristiques ESG de l’émetteur, y compris la compréhension de la manière dont cesconsidérations peuvent avoir un impact sur les rendements économiques.

Le Gestionnaire de portefeuille tiendra compte des informations recueillies à partir de l’analyse fondamentale dans sa décision d’acquérir une participation dans une société émettrice ou de conserver
une position donnée.
Comme expliqué ci-dessus, l’évaluation et la gestion des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours
possible qu’un Événement ESG ait une incidence négative importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du régime des principales incidences négatives prévu à
l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire
soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs
de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices d’actions utilisés pour offrir une exposition aux marchés de titres régionaux et mondiaux de manière plus rentable ou plus efficace que par l’achat de titres physiques. | Borsa Istanbul 30 Dax 30 Index Euro Stoxx 50 Index FTSE 100 Index FTSE All Share Index FTSE World Index Hang Seng Index KOSPI Index |
|  | MDAX Index MSCI All Countries World Index MSCI Emerging Markets Index Nasdaq Composite Index Nikkei 225 Index Russell 2000 Index S&P/ASX 200 Index S&P/TSX Composite Index S&P 500 Index Stoxx Europe 600 Index |
|  | Stoxx Europe Small 200 |
| Indices de volatilité permettant de fournir une exposition à, ou exprimer le point de vue du Gestionnaire de portefeuille sur, la volatilité d’un marché ou d’une devise spécifique de manière plus rentable ou plus efficace que par l’achat de titres physiques. | Chicago Board Options Exchange SPX Volatility Index |


#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins
| Options | Options sur devises (y compris options de change) Options sur contrats à terme standardisés d’obligations d’État Options sur obligations Options sur actions (valeur individuelle, indice, secteur, panier personnalisé) Options sur contrats à terme standardisés d’actions Options sur indices de volatilité Swaptions |
| --- | --- |
| Contrats à terme standar- disés | Contrats à terme standardisés sur devises et options sur contrats à terme standardisés de devises Contrats à terme d’actions ou contrats à terme standardisés sur indices boursiers Contrats à terme standardisés sur obligations d’État Contrats à terme standardisés sur indices de volatilité |
| Swaps | Swaps de rendement total (titre individuel, crédit, indice et panier personnalisé) Swaps d’actions/d’indices boursiers/de secteurs Swaps de défaut de crédit (titre individuel, indice et panier personnalisé) Swaps de taux d’intérêt |
| Contrats à terme | Contrats de change à terme |
| Titres avec IFD intégrés/effet de levier | Bons de souscription Obligations convertibles Titres convertibles conditionnels (CoCo) Titres adossés à des actifs (ABS) Titres adossés à des créances hypothécaires (MBS) Obligations structurées |
| Autres ins- truments | Options à faible prix d’exercice (LEPO) et bons de souscription à faible prix d’exercice (LEPW) Contrats sur différence (« CFD ») |

d’investissement :
De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne peut pas accéder
directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | Indice Markit iTraxx CDS Index |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Les
indices financiers restants seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages, les coûts associés ou la pondération des actions de
l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

##### Positions longues et courtes
Le Compartiment peut construire des expositions synthétiques longues et synthétiques courtes dans
chacune des classes d’actifs référencées dans la Politique d’investissement pour atteindre son objectif d’investissement. L’exposition longue nette totale (après prise en compte de la couverture) par le biais d’IFD ne
devrait pas dépasser 100 % de la Valeur liquidative du Compartiment et l’exposition nette courte totale ne devrait pas dépasser non plus 100 % de la Valeur liquidative du Compartiment (en utilisant l’approche par les engagements).

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 100 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés,
options, swaps, contrats sur différence, titres avec IFD intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des OFT, c’est à
dire des accords de prêt de titres et des accords de
mise/prise en pension, comme décrit sous la rubrique
« Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et aux OFT correspondent respectivement à 100 % et 100 %
de sa Valeur liquidative. Toutefois, le Gestionnaire de portefeuille ne s’attend pas à ce que l’exposition du Compartiment aux TRS excède 30 % de sa Valeur liquidative, et 15 % pour les OFT. Les types d’actifs qui
feront l’objet de TRS et OFT seront les titres dont la nature est conforme à la politique d’investissement du
Compartiment.
De plus amples détails concernant les TRS et les OFT, notamment les garanties acceptables et la procédure
relative à la contrepartie, sont fournis aux rubriques du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties », « Annexe III – Recours à des accords de mise/prise en pension et accords de prêt de titres »,
« Gestion efficace de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories d’actions non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action
respectif, à savoir de 1 USD, 1 GBP, 1 EUR, 1 CAD ou
1 CHF, selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés le 31 décembre de chaque année.
Concernant les détenteurs d’Actions de distribution, les
dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Global Multi-Asset Income Fund

### SUPPLÉMENT 38, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
Ce Compartiment a été clôturé par voie d’un rachat forcé et toutes les Actions en circulation au 18 mars 2021 ont
été obligatoirement rachetées. Les Actions du Compartiment ne sont plus disponibles pour
l’investissement. La Société prévoit de déposer une
demande auprès de la Banque centrale afin que l’agrément du Compartiment soit révoqué à la suite de la préparation des états financiers audités pour l’exercice
clôturé le 31 décembre 2021. La Société demandera l’accord de la Banque centrale pour retirer ce Compartiment du présent Prospectus après l’approbation de cette révocation.
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des instruments financiers dérivés (« IFD ») à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Il est proposé que les commissions de gestion et autres commissions et frais du Compartiment soient imputés au capital de ce dernier en vue de maximiser les distributions. Veuillez consulter la section « Commissions et frais » dans le Prospectus pour plus d’informations.
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.
- Le Compartiment peut, dans certains cas exceptionnels, effectuer des investissements importants dans des dépôts auprès d’établissements de crédit. Même si le Compartiment peut investir dans des instruments du marché monétaire et des dépôts en numéraire, les Actions dans le Compartiment ne sauraient constituer des dépôts et diffèrent des dépôts par nature en ceci que l’investissement n’est pas garanti et que sa valeur est susceptible de fluctuer. Les investissements dans le Compartiment impliquent certains risques d’investissement, dont la perte éventuelle du capital.


#### Gestionnaire de portefeuille
Newton Investment Management Limited

#### Devise de référence
Euro

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée occasionnellement par les Administrateurs, à condition
que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro A (Dist.) | EUR | Jusqu’à 5 % | 5 000 EUR | 1,50 % | Aucun(e) |
| EUR A (Cap.) | EUR | Jusqu’à 5 % | 5 000 EUR | 1,50 % | Aucun(e) |
| USD A (Dist.) | USD | Jusqu’à 5 % | 5 000 USD | 1,50 % | Aucun(e) |
| USD A (Cap.) | USD | Jusqu’à 5 % | 5 000 USD | 1,50 % | Aucun(e) |
| Sterling A (Dist.) | GBP | Jusqu’à 5 % | 5 000 GBP | 1,50 % | Aucun(e) |
| Sterling A (Cap.) | GBP | Jusqu’à 5 % | 5 000 GBP | 1,50 % | Aucun(e) |
| CAD A (Cap.) | CAD | Jusqu’à 5 % | 5 000 CAD | 1,50 % | Aucun(e) |
| CAD A (Dist.) | CAD | Jusqu’à 5 % | 5 000 CAD | 1,50 % | Aucun(e) |
| AUD A (Cap.) | AUD | Jusqu’à 5 % | 5 000 AUD | 1,50 % | Aucun(e) |
| AUD A (Dist.) | AUD | Jusqu’à 5 % | 5 000 AUD | 1,50 % | Aucun(e) |
| HKD A (Cap.) | HKD | Jusqu’à 5 % | 50 000 HKD | 1,50 % | Aucun(e) |
| HKD A (Dist.) | HKD | Jusqu’à 5 % | 50 000 HKD | 1,50 % | Aucun(e) |
| SGD A (Cap.) | SGD | Jusqu’à 5 % | 5 000 SGD | 1,50 % | Aucun(e) |
| SGD A (Dist.) | SGD | Jusqu’à 5 % | 5 000 SGD | 1,50 % | Aucun(e) |
| CNH A (Cap.) | CNH | Jusqu’à 5 % | 50 000 CNH | 1,50 % | Aucun(e) |
| CNH A (Dist.) | CNH | Jusqu’à 5 % | 50 000 CNH | 1,50 % | Aucun(e) |
| USD H (Dist.) (couverte) | USD | Jusqu’à 5 % | 5 000 USD | 1,50 % | Aucun(e) |
| USD H (Cap.) (couverte) | USD | Jusqu’à 5 % | 5 000 USD | 1,50 % | Aucun(e) |
| Sterling H (Dist.) (couverte) | GBP | Jusqu’à 5 % | 5 000 GBP | 1,50 % | Aucun(e) |
| Sterling H (Cap.) (couverte) | GBP | Jusqu’à 5 % | 5 000 GBP | 1,50 % | Aucun(e) |
| CAD H (Cap.) (couverte) | CAD | Jusqu’à 5 % | 5 000 CAD | 1,50 % | Aucun(e) |
| CAD H (Dist.) (couverte) | CAD | Jusqu’à 5 % | 5 000 CAD | 1,50 % | Aucun(e) |
| AUD H (Cap.) (couverte) | AUD | Jusqu’à 5 % | 5 000 AUD | 1,50 % | Aucun(e) |
| AUD H (Dist.) (couverte) | AUD | Jusqu’à 5 % | 5 000 AUD | 1,50 % | Aucun(e) |
| HKD H (Cap.) (couverte) | HKD | Jusqu’à 5 % | 50 000 HKD | 1,50 % | Aucun(e) |
| HKD H (Dist.) (couverte) | HKD | Jusqu’à 5 % | 50 000 HKD | 1,50 % | Aucun(e) |
| SGD H (Cap.) (couverte) | SGD | Jusqu’à 5 % | 5 000 SGD | 1,50 % | Aucun(e) |
| SGD H (Dist.) (couverte) | SGD | Jusqu’à 5 % | 5 000 SGD | 1,50 % | Aucun(e) |
| CNH H (Cap.) (couverte) | CNH | Jusqu’à 5 % | 50 000 CNH | 1,50 % | Aucun(e) |
| CNH H (Dist.) (couverte) | CNH | Jusqu’à 5 % | 50 000 CNH | 1,50 % | Aucun(e) |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro C (Dist.) | EUR | Jusqu’à 5 % | 5 000 000 EUR | 1,00 % | Aucun(e) |
| Euro C (Cap.) | EUR | Jusqu’à 5 % | 5 000 000 EUR | 1,00 % | Aucun(e) |
| USD C (Dist.) | USD | Jusqu’à 5 % | 5 000 000 USD | 1,00 % | Aucun(e) |
| USD C (Cap.) | USD | Jusqu’à 5 % | 5 000 000 USD | 1,00 % | Aucun(e) |
| Sterling C (Dist.) | GBP | Jusqu’à 5 % | 5 000 000 GBP | 1,00 % | Aucun(e) |
| Sterling C (Cap.) | GBP | Jusqu’à 5 % | 5 000 000 GBP | 1,00 % | Aucun(e) |
| CHF C (Dist.) | CHF | Jusqu’à 5 % | 5 000 000 CHF | 1,00 % | Aucun(e) |
| CHF C (Cap.) | CHF | Jusqu’à 5 % | 5 000 000 CHF | 1,00 % | Aucun(e) |
| USD I (Cap.) (couverte) | USD | Jusqu’à 5 % | 5 000 000 USD | 1,00 % | Aucun(e) |
| USD I (Dist.) (couverte) | USD | Jusqu’à 5 % | 5 000 000 USD | 1,00 % | Aucun(e) |
| Sterling I (Dist.) (couverte) | GBP | Jusqu’à 5 % | 5 000 000 GBP | 1,00 % | Aucun(e) |
| Sterling I (Cap.) (couverte) | GBP | Jusqu’à 5 % | 5 000 000 GBP | 1,00 % | Aucun(e) |
| CHF I (Dist.) (couverte) | CHF | Jusqu’à 5 % | 5 000 000 CHF | 1,00 % | Aucun(e) |
| CHF I (Cap.) (couverte) | CHF | Jusqu’à 5 % | 5 000 000 CHF | 1,00 % | Aucun(e) |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | Jusqu’à 5 % | 5 000 USD | 1,00 % | Aucun(e) |
| USD G (Dist.) | USD | Jusqu’à 5 % | 5 000 USD | 1,00 % | Aucun(e) |
| Euro G (Cap.) | EUR | Jusqu’à 5 % | 5 000 EUR | 1,00 % | Aucun(e) |
| Euro G (Dist.) | EUR | Jusqu’à 5 % | 5 000 EUR | 1,00 % | Aucun(e) |
| Sterling G (Cap.) | GBP | Jusqu’à 5 % | 5 000 GBP | 1,00 % | Aucun(e) |
| Sterling G (Dist.) | GBP | Jusqu’à 5 % | 5 000 GBP | 1,00 % | Aucun(e) |
| USD G (Cap.) (couverte) | USD | Jusqu’à 5 % | 5 000 USD | 1,00 % | Aucun(e) |
| USD G (Dist.) (couverte) | USD | Jusqu’à 5 % | 5 000 USD | 1,00 % | Aucun(e) |
| Sterling G (Cap.) (couverte) | GBP | Jusqu’à 5 % | 5 000 GBP | 1,00 % | Aucun(e) |
| Sterling G (Dist.) (couverte) | GBP | Jusqu’à 5 % | 5 000 GBP | 1,00 % | Aucun(e) |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR W (Cap.) | EUR | Jusqu’à 5 % | 15 000 000 EUR | 0,75 % | Aucun(e) |
| EUR W (Dist.) | EUR | Jusqu’à 5 % | 15 000 000 EUR | 0,75 % | Aucun(e) |
| USD W (Cap.) | USD | Jusqu’à 5 % | 15 000 000 USD | 0,75 % | Aucun(e) |
| USD W (Dist.) | USD | Jusqu’à 5 % | 15 000 000 USD | 0,75 % | Aucun(e) |
| Sterling W (Cap.) | GBP | Jusqu’à 5 % | 15 000 000 GBP | 0,75 % | Aucun(e) |
| Sterling W (Dist.) | GBP | Jusqu’à 5 % | 15 000 000 GBP | 0,75 % | Aucun(e) |
| CHF W (Cap.) | CHF | Jusqu’à 5 % | 15 000 000 CHF | 0,75 % | Aucun(e) |
| CHF W (Dist.) | CHF | Jusqu’à 5 % | 15 000 000 CHF | 0,75 % | Aucun(e) |
| CAD W (Cap.) | CAD | Jusqu’à 5 % | 15 000 000 CAD | 0,75 % | Aucun(e) |
| CAD W (Dist.) | CAD | Jusqu’à 5 % | 15 000 000 CAD | 0,75 % | Aucun(e) |
| AUD W (Cap.) | AUD | Jusqu’à 5 % | 15 000 000 AUD | 0,75 % | Aucun(e) |
| AUD W (Dist.) | AUD | Jusqu’à 5 % | 15 000 000 AUD | 0,75 % | Aucun(e) |
| HKD W (Cap.) | HKD | Jusqu’à 5 % | 150 000 000 HKD | 0,75 % | Aucun(e) |
| HKD W (Dist.) | HKD | Jusqu’à 5 % | 150 000 000 HKD | 0,75 % | Aucun(e) |
| SGD W (Cap.) | SGD | Jusqu’à 5 % | 15 000 000 SGD | 0,75 % | Aucun(e) |
| SGD W (Dist.) | SGD | Jusqu’à 5 % | 15 000 000 SGD | 0,75 % | Aucun(e) |
| CNH W (Cap.) | CNH | Jusqu’à 5 % | 150 000 000 CNH | 0,75 % | Aucun(e) |
| CNH W (Dist.) | CNH | Jusqu’à 5 % | 150 000 000 CNH | 0,75 % | Aucun(e) |
| USD W (Cap.) (couverte) | USD | Jusqu’à 5 % | 15 000 000 USD | 0,75 % | Aucun(e) |
| USD W (Dist.) (couverte) | USD | Jusqu’à 5 % | 15 000 000 USD | 0,75 % | Aucun(e) |
| Sterling W (Cap.) (couverte) | GBP | Jusqu’à 5 % | 15 000 000 GBP | 0,75 % | Aucun(e) |
| Sterling W (Dist.) (couverte) | GBP | Jusqu’à 5 % | 15 000 000 GBP | 0,75 % | Aucun(e) |
| CHF W (Cap.) (couverte) | CHF | Jusqu’à 5 % | 15 000 000 CHF | 0,75 % | Aucun(e) |
| CHF W (Dist.) (couverte) | CHF | Jusqu’à 5 % | 15 000 000 CHF | 0,75 % | Aucun(e) |
| CAD W (Cap.) (couverte) | CAD | Jusqu’à 5 % | 15 000 000 CAD | 0,75 % | Aucun(e) |
| CAD W (Dist.) (couverte) | CAD | Jusqu’à 5 % | 15 000 000 CAD | 0,75 % | Aucun(e) |
| AUD W (Cap.) (couverte) | AUD | Jusqu’à 5 % | 15 000 000 AUD | 0,75 % | Aucun(e) |
| AUD W (Dist.) (couverte) | AUD | Jusqu’à 5 % | 15 000 000 AUD | 0,75 % | Aucun(e) |
| HKD W (Cap.) (couverte) | HKD | Jusqu’à 5 % | 150 000 000 HKD | 0,75 % | Aucun(e) |
| HKD W (Dist.) (couverte) | HKD | Jusqu’à 5 % | 150 000 000 HKD | 0,75 % | Aucun(e) |
| SGD W (Cap.) (couverte) | SGD | Jusqu’à 5 % | 15 000 000 SGD | 0,75 % | Aucun(e) |
| SGD W (Dist.) (couverte) | SGD | Jusqu’à 5 % | 15 000 000 SGD | 0,75 % | Aucun(e) |
| CNH W (Cap.) (couverte) | CNH | Jusqu’à 5 % | 150 000 000 CNH | 0,75 % | Aucun(e) |
| CNH W (Dist.) (couverte) | CNH | Jusqu’à 5 % | 150 000 000 CNH | 0,75 % | Aucun(e) |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro E (Cap.) | EUR | Jusqu’à 5 % | Comme convenu | 0,25 % | Aucun(e) |
| Euro E (Dist.) | EUR | Jusqu’à 5 % | Comme convenu | 0,25 % | Aucun(e) |
| USD E (Cap.) | USD | Jusqu’à 5 % | Comme convenu | 0,25 % | Aucun(e) |
| USD E (Dist.) | USD | Jusqu’à 5 % | Comme convenu | 0,25 % | Aucun(e) |
| Sterling E (Cap.) | GBP | Jusqu’à 5 % | Comme convenu | 0,25 % | Aucun(e) |
| Sterling E (Dist.) | GBP | Jusqu’à 5 % | Comme convenu | 0,25 % | Aucun(e) |
| CHF E (Cap.) | CHF | Jusqu’à 5 % | Comme convenu | 0,25 % | Aucun(e) |
| CHF E (Dist.) | CHF | Jusqu’à 5 % | Comme convenu | 0,25 % | Aucun(e) |
| USD E (Cap.) (couverte) | USD | Jusqu’à 5 % | Comme convenu | 0,25 % | Aucun(e) |
| USD E (Dist.) (couverte) | USD | Jusqu’à 5 % | Comme convenu | 0,25 % | Aucun(e) |
| Sterling E (Cap.) (couverte) | GBP | Jusqu’à 5 % | Comme convenu | 0,25 % | Aucun(e) |
| Sterling E (Dist.) (couverte) | GBP | Jusqu’à 5 % | Comme convenu | 0,25 % | Aucun(e) |
| CHF E (Cap.) (couverte) | CHF | Jusqu’à 5 % | Comme convenu | 0,25 % | Aucun(e) |
| CHF E (Dist.) (couverte) | CHF | Jusqu’à 5 % | Comme convenu | 0,25 % | Aucun(e) |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro X (Cap.) | EUR | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| Euro X (Dist.) | EUR | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| USD X (Cap.) | USD | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| USD X (Dist.) | USD | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| Sterling X (Cap.) | GBP | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| Sterling X (Dist.) | GBP | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| USD X (Cap.) (couverte) | USD | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| USD X (Dist.) (couverte) | USD | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
L’objectif du Compartiment est d’assurer un revenu aux investisseurs et une éventuelle croissance du capital à long terme.

##### Politique d’investissement
Le Compartiment est un fonds multi-actifs mondial axé
sur le revenu qui cherche à atteindre son objectif grâce à une allocation d’actifs flexible et active.
Le Compartiment peut investir dans des actions et titres apparentés (actions ordinaires et actions privilégiées, certificats représentatifs de titres américains et
certificats représentatifs de titres internationaux, titres convertibles ou échangeables pour ce type d’actions, bons de souscription et droits de souscription d’actions), ainsi que dans des IFD sur actions, énoncés sous la
rubrique « Utilisation d’IFD » ci-dessous.
Le Compartiment peut aussi investir dans des Titres de créance et apparentés (débentures, dépôts, billets dont
billets de sociétés et souverains, à taux variable et fixe, d’une durée minimum d’un an, titres adossés à des actifs
[ABS], titres adossés à des créances hypothécaires [MBS] et obligations, à taux fixe ou variable, émis ou garantis par un gouvernement souverain ou ses agences, des collectivités locales, des organismes supranationaux ou publics internationaux, des banques, des sociétés ou tous autres émetteurs commerciaux [ci-après, les « Titres
de créance et apparentés »]) et dans des IFD de créance, comme énoncé à la section intitulée « Utilisation d’IFD » ci-dessous.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des CoCo. Veuillez consulter la section du Prospectus intitulée « Risque lié aux titres
convertibles conditionnels (« CoCo ») pour plus de détails sur les risques associés aux CoCo.
Les Titres de créance et apparentés détenus par le Compartiment peuvent être de qualité investment grade, inférieure à investment grade ou non notés. Le Gestionnaire de portefeuille considère les titres de qualité inférieure à investment grade comme étant ceux
dont la notation de crédit est inférieure à BBB- à la date d’achat, telle qu’attribuée par une Agence de notation reconnue. Le Compartiment peut investir plus de 30 % de
sa Valeur liquidative dans des Titres de créance et apparentés de qualité inférieure à investment grade.
Le Compartiment peut investir plus de 10 % et jusqu’à 35 % de sa Valeur liquidative dans des Titres de créance
et apparentés émis et/ou garantis par un même émetteur souverain (y compris son gouvernement et les autorités publiques ou locales) de qualité inférieure à investment grade (c.-à-d. BB+ ou moins), tel que déterminé par une
Agence de notation reconnue. Le Brésil, l’Indonésie et la Hongrie sont des exemples d’émetteurs souverains. Ces investissements sont basés sur l’appréciation professionnelle du Gestionnaire de portefeuille, dont les motifs d’investissement peuvent inclure des perspectives positives/favorables pour l’émetteur souverain, une possible amélioration de la notation et des variations
attendues de la valeur de ces investissements en raison des changements de notations. Veuillez noter que la notation des émetteurs souverains peut changer de temps à autre et que les émetteurs souverains susmentionnés servent uniquement de référence et peuvent changer en même temps que leur notation.
Le Compartiment peut également investir dans des matières premières, de l’immobilier et des infrastructures par le biais d’organismes de placement collectif (« OPC ») et de titres cotés ou négociés sur des Marchés éligibles
tels que des sociétés d’investissement immobilier
(« REIT ») et des ETF. Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative totale dans des OPC, y compris des fonds monétaires.
Le Compartiment peut investir à l’échelle mondiale. Le Compartiment peut investir plus de 40 % de sa Valeur liquidative dans des pays émergents, y compris la Russie.
Toutefois, seulement 20 % de la Valeur liquidative du Compartiment sera investi dans des titres cotés ou négociés en Russie. Le Compartiment peut uniquement investir dans des titres russes négociés sur la Bourse de Moscou.
Dans certaines circonstances, et à des fins de gestion des flux de trésorerie, le Compartiment peut également détenir temporairement des quantités importantes de
liquidités (c’est-à-dire jusqu’à 100 % de sa Valeur
liquidative) ou équivalents (p. ex., des certificats de dépôt
et des instruments de créance à court terme) ainsi que
des instruments du marché monétaire (p. ex., des billets de trésorerie et des obligations d’État à taux fixe ou variable). Il se peut, par exemple, que le Gestionnaire de
portefeuille estime que les marchés sont surévalués ou
que les conditions du marché nécessitent une stratégie d’investissement défensive (par ex. effondrement du marché ou crise majeure). Néanmoins, le Compartiment
peut également détenir du numéraire en dépôt en attente de réinvestissement, pour financer le rachat d’actions ou le paiement de frais ou afin de fournir des garanties pour les contrats d’IFD.
À l’exception des investissements autorisés dans des titres non cotés et des OPC à capital variable, les
investissements du Compartiment dans des titres et des IFD seront cotés ou négociés sur des Marchés éligibles
énumérés à l’Annexe II du Prospectus.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des Titres de créance et apparentés en
République populaire de Chine (« RPC ») négociés sur le marché obligataire interbancaire chinois (« CIBM ») via le programme Bond Connect (décrit plus en détail à
l’Annexe VI du Prospectus).
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des Obligations structurées.

##### Indice de référence
L’indice mixte composé à 60 % de l’ndice MSCI AC World NR Index et à 40 % de l’ndice ICE Bank of America Merrill Lynch Global Broad Market TR Index (couvert par rapport à l’euro) (l’« Indice de référence mixte »).
L’indice MSCI AC World intègre des fortes et moyennes capitalisations représentatives de 23 marchés développés et 24 marchés émergents. Avec plus de 2 000
composantes, l’indice couvre approximativement 85 % des possibilités d’investissement en actions sur la scène mondiale. L’indice applique une approche exhaustive et cohérente qui permet d’avoir un aperçu global très pertinent et d’établir des comparaisons entre régions de
toutes les tailles de capitalisation boursière, de tous les
segments et combinaisons sectorielles et de style. Cette méthodologie vise à fournir une couverture exhaustive de
l’opportunité d’investissement concernée, un fort accent étant mis sur la liquidité, l’investissabilité et la réplicabilité de l’indice. L’Indice est revu tous les trimestres, en février, mai, août et novembre, l’objectif
étant de refléter les changements affectant les marchés d’actions sous-jacents de manière opportune, tout en limitant le roulement indu de l’indice.
L’indice ICE Bank of America Merrill Lynch Global Broad Market Index reflète la performance de titres de créance de qualité investment grade émis au public sur les
principaux marchés nationaux et des euro-obligations, y compris les titres souverains, d’organismes quasi- gouvernementaux, d’entreprises, titrisés et garantis.
Le Compartiment mesurera les revenus qu’il a générés par rapport à ceux dégagés par l’Indice de référence mixte.
Le Compartiment est géré activement, ce qui signifie que le Gestionnaire de portefeuille a tout pouvoir pour investir
en dehors de l’Indice de référence mixte sur la base de l’objectif et de la politique d’investissement. Bien que les avoirs du Compartiment puissent inclure des composantes de l’Indice de référence mixte, la sélection
des investissements et leurs pondérations dans le portefeuille ne sont pas influencées par l’indice en question. La stratégie d’investissement ne limite pas la mesure dans laquelle le Gestionnaire de portefeuille peut
s’écarter de l’Indice de référence mixte.

##### Stratégie d’investissement
Le Compartiment est un portefeuille multi-actifs mondial, axé sur le revenu. Ainsi, une part importante des actifs du Compartiment sera investie dans des titres générant des revenus. Les allocations seront à la discrétion du Gestionnaire de portefeuille et seront réparties entre les
classes d’actifs décrites ci-dessus. Alors que le
Compartiment se concentre sur la génération de revenus, il n’est pas tenu de se concentrer sur une zone géographique, une entreprise ou un secteur donné(e) pour construire son exposition aux classes d’actifs. Par conséquent, le Compartiment peut investir entièrement
dans des instruments de capitaux propres et titres
apparentés, dans des Titres de créance et apparentés, ou dans n’importe quelle combinaison de toutes les classes d’actifs décrites ci-dessus sous la rubrique « Politique d’investissement ». L’allocation d’actifs du Compartiment peut varier en fonction du point de vue du Gestionnaire
de portefeuille sur les conditions fondamentales de l’économie et du marché ainsi que sur les tendances en matière d’investissement dans le monde, tout en prenant en considération des facteurs comme la liquidité, les
coûts, la durée d’exécution, le caractère intéressant relatif des titres individuels et des émetteurs disponibles sur le marché.
Le Gestionnaire de portefeuille estime qu’aucune société, aucun marché et aucune économie ne peuvent être
considérés isolément, chacun de ces éléments devant être examiné dans un contexte global. Le Gestionnaire de portefeuille estime que les événements qui surviennent dans le monde influent sur tous les marchés financiers et que, par conséquent, un investissement réussi dans des titres à la diversification internationale implique de bien comprendre le monde dans son ensemble.
Le processus d’investissement du Gestionnaire de portefeuille combine plusieurs thèmes d’investissement, une analyse fondamentale et la valorisation des titres.
Les thèmes visent à identifier les changements majeurs
au niveau international, ce qui permet de replacer l’analyse des investissements et la prise de décision dans le contexte. Ils aident également le Gestionnaire de
portefeuille à identifier les opportunités éventuelles et les risques potentiels eu égard à la classe d’actifs et aux titres concernés. L’analyse fondamentale et la prise en considération des valorisations des titres par le
Gestionnaire de portefeuille permettent ensuite de définir une liste d’investissements potentiels pour le Compartiment. Lorsqu’il investit dans des titres, le
gestionnaire de portefeuille prend en compte les effets de ces investissements sur l’ensemble du Compartiment, comme l’exposition à une classe d’actifs donnée, l’encours de chaque position de titre ainsi que les caractéristiques des titres eux-mêmes en matière de risque d’investissement et de revenu.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants à des fins
| Options | Options sur devises (y compris options de change) Options sur contrats à terme standardisés d’obligations d’État Options sur obligations Options sur actions (valeur individuelle, indice, secteur, panier personnalisé) Options sur contrats à terme standardisés d’actions Options sur indices de volatilité Swaptions |
| --- | --- |
| Contrats à terme standar- disés | Contrats à terme standardisés sur devises et options sur contrats à terme standardisés de devises Contrats à terme d’actions ou contrats à terme standardisés sur indices boursiers Contrats à terme standardisés sur obligations d’État Contrats à terme standardisés sur indices de volatilité |
| Swaps | Swaps de rendement total Actions/Indice boursier/Swaps sectoriels Swaps de défaut de crédit Swaps de taux d’intérêt |
| Contrats à terme | Contrats de change à terme |
| Titres avec IFD intégrés/effet de levier | Bons de souscription Obligations convertibles Titres convertibles conditionnels (CoCo) Titres adossés à des actifs (ABS) Titres adossés à des créances hypothécaires (MBS) Obligations structurées |

d’investissement :
| Autres ins- truments | Bons de participation (y compris les LEPO et les LEPW) Contrats de différence (« CFD ») |
| --- | --- |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

##### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de gestion efficace de portefeuille
(GEP). Le Compartiment utilise les indices à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne peut pas accéder directement aux placements.
| Type d’indices | Nom des Indices |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | Indice Markit iTraxx CDS Index |
| Indices d’actions utilisés pour offrir une exposition aux marchés de titres régionaux et mondiaux de manière plus rentable ou plus efficace que par l’achat de titres physiques. | Indice Dax 30 Index Indice Euro Stoxx 50 Index Indice FTSE 100 Index Indice FTSE All Share Index Indice FTSE World Index Indice Hang Seng Index Indice KOSPI Index Indice MSCI All Countries World Index Indice MSCI Emerging Markets Index Indice Nasdaq Composite Index Indice Nikkei 225 Index Indice Russell 2000 Index S&P/ASX 200 Index Indice S&P/TSX Composite Index Indice S&P 500 Index Indice Stoxx Europe 600 Index |
| Indices de volatilité permettant de fournir une exposition à, ou exprimer le point de vue du Gestionnaire de portefeuille sur, la volatilité d’un marché ou d’une devise spécifique de manière plus rentable ou plus efficace que par l’achat de titres physiques. | Chicago Board Options Exchange SPX Volatility Index |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Les
indices financiers restants seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages,
les coûts associés ou la pondération des actions de l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

##### Positions longues et courtes
Le Compartiment peut construire des expositions synthétiques longues et synthétiques courtes dans
chacune des classes d’actifs référencées dans la Politique d’investissement pour atteindre son objectif d’investissement. L’exposition longue nette totale (après prise en compte de la couverture) par le biais d’IFD ne
devrait pas dépasser 100 % de la Valeur liquidative du Compartiment et l’exposition nette courte totale ne devrait pas dépasser non plus 100 % de la Valeur liquidative du Compartiment (en utilisant l’approche par les engagements).

#### Émission d’Actions
L’offre initiale (la « Période d’offre initiale ») pour toutes les catégories d’actions lancées du Compartiment est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 30 avril 2021 ou jusqu’à une date antérieure ou ultérieure à celle où les premières actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre
initiale prendra automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment sur le site Internet www.bnymellonim.com.
Les Actions de chaque catégorie d’actions non lancée disponible seront émises durant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 GBP, 1 EUR, 1 CHF, 1 CAD,
1 AUD, 1 SGD, 10 HKD ou 10 CNH selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de souscription applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Rachat d’Actions
Les Actions de chaque catégorie pourront être rachetées, à la discrétion de l’Actionnaire concerné, tout Jour d’évaluation à l’Heure d’évaluation. Le Prix de rachat est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation, diminuée de la
commission de rachat applicable.
Toutes les demandes de rachat d’actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Restrictions en matière d’investissement et d’emprunt
Les restrictions en matière d’investissement et d’emprunt du Compartiment sont définies sous la section du Prospectus intitulée « La Société – Restrictions en matière d’investissement et d’emprunt ».
Exposition globale et effet de levier 
Méthodologie de calcul de l’exposition globale : VaR absolue
Limite de VaR absolue : le portefeuille du Compartiment ne dépassera pas 20 % de la Valeur liquidative (sur la
base d’une période de détention de 20 Jours ouvrables).
L’effet de levier brut devrait varier entre : 0 % et 750 % de la Valeur liquidative du Compartiment. L’effet de levier brut peut toutefois dépasser ce niveau cible à certains
moments.
Pour plus d’informations sur l’approche de la VaR absolue et l’Effet de levier brut, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés,
options, swaps, contrats sur différence, titres avec IFD intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de gestion efficace de portefeuille (GEP), sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la
section du Prospectus intitulée « La Société – Gestion
efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des opérations de
financement sur titres (« OFT »), soit des accords de prêt
de titres et des accords de mise/prise en pension, comme décrit sous la rubrique « Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et aux OFT correspondent respectivement à 100 % et 100 %
de sa Valeur liquidative. Toutefois, le Gestionnaire de portefeuille ne s’attend pas à ce que l’exposition du Compartiment aux TRS excède 30 % de sa Valeur liquidative, et 15 % pour les OFT. Les types d’actifs qui
feront l’objet de TRS ou OFT seront les actifs dont la nature est conforme à la politique d’investissement du
Compartiment.
De plus amples détails concernant les TRS et les OFT, notamment les garanties acceptables et la procédure
relative à la contrepartie, sont fournis aux rubriques du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties », « Annexe III – Recours à des accords de
mise/prise en pension et accords de prêt de titres »,
« Gestion efficace de portefeuille » et « Facteurs de risques ».

#### Couverture des catégories d’actions
Ce Compartiment propose des catégories d’actions couvertes. Ces catégories d’actions sont indiquées par le suffixe « (couverte) ». Veuillez consulter la section intitulée « Couverture des catégories d’actions » dans le Prospectus pour plus d’informations sur le fonctionnement et l’impact des catégories d’actions couvertes.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés trimestriellement, les
31 décembre, 31 mars, 30 juin et 30 septembre. En ce qui concerne les détenteurs d’Actions de distribution, les dividendes déclarés seront normalement versés au plus
tard le 11 février, le 11 mai, le 11 août et le 11 novembre, respectivement. De plus amples informations sont
disponibles à la section « La Société – Politique de
distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.
Les commissions et frais liés à la constitution et à l’organisation du Compartiment, y compris les honoraires des conseillers professionnels du Compartiment seront
pris en charge par le Compartiment. Ces commissions et frais sont estimés à un maximum de 60 000 € et seront pris en charge par le Compartiment et amortis sur une
période de 5 ans à partir de son lancement.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Efficient U.S. High Yield Beta Fund

### SUPPLÉMENT 39, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Il est proposé que les commissions de gestion et autres commissions et frais du Compartiment soient imputés au capital de ce dernier en vue de maximiser les distributions. Veuillez consulter la section « Commissions et frais » dans le Prospectus pour plus d’informations.
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Insight North America LLC

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD A (Cap.) | USD | 5 000 | 5 % | 0,40 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 0,40 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 0,40 % | 0 % |
| Euro H (Cap.) (couverte) | EUR | 5 000 | 5 % | 0,40 % | 0 % |
| Euro H (Dist.) (couverte) | EUR | 5 000 | 5 % | 0,40 % | 0 % |
| Sterling H (Cap.) (couverte) | GBP | 5 000 | 5 % | 0,40 % | 0 % |
| Sterling H (Dist.) (couverte) | GBP | 5 000 | 5 % | 0,40 % | 0 % |
| CHF H (Cap.) (couverte) | CHF | 5 000 | 5 % | 0,40 % | 0 % |
| CHF H (Dist.) (couverte) | CHF | 5 000 | 5 % | 0,40 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 0,30 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 0,30 % | 0 % |
| Euro G (Cap.) (couverte) | EUR | 5 000 | 5 % | 0,30 % | 0 % |
| Euro G (Dist.) (couverte) | EUR | 5 000 | 5 % | 0,30 % | 0 % |
| Sterling G (Cap.) (couverte) | GBP | 5 000 | 5 % | 0,30 % | 0 % |
| Sterling G (Dist.) (couverte) | GBP | 5 000 | 5 % | 0,30 % | 0 % |
| CHF G (Cap.) (couverte) | CHF | 5 000 | 5 % | 0,30 % | 0 % |
| CHF G (Dist.) (couverte) | CHF | 5 000 | 5 % | 0,30 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 0,30 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 0,30 % | 0 % |
| Euro C (Cap.) | EUR | 5 000 000 | 5 % | 0,30 % | 0 % |
| Euro I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 0,30 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 0,30 % | 0 % |
| Sterling I (Cap.) (couverte) | GBP | 5 000 000 | 5 % | 0,30 % | 0 % |
| Sterling I (Dist.) (couverte) | GBP | 5 000 000 | 5 % | 0,30 % | 0 % |
| CHF I (Cap.) (couverte) | CHF | 5 000 000 | 5 % | 0,30 % | 0 % |
| CHF I (Dist.) (couverte) | CHF | 5 000 000 | 5 % | 0,30 % | 0 % |
| CAD I (Cap.) (couverte) | CAD | 5 000 000 | 5 % | 0,30 % | 0 % |
| CAD I (Dist.) (couverte) | CAD | 5 000 000 | 5 % | 0,30 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,20 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,20 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,20 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,20 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,20 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,20 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,20 % | 0 % |
| CHF W (Dist.) (couverte) | CHF | 15 000 000 | 5 % | 0,20 % | 0 % |
| CAD W (Cap.) (couverte) | CAD | 15 000 000 | 5 % | 0,20 % | 0 % |
| CAD W (Dist.) (couverte) | CAD | 15 000 000 | 5 % | 0,20 % | 0 % |

| Actions « K » et Actions « K (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD K (Cap.) | USD | Comme convenu | 5 % | 0,30 % | 0 % |
| Euro K (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,30 % | 0 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD E (Cap.) | USD | Comme convenu | 5 % | 0,10 % | 0 % |
| USD E (Dist.) | USD | Comme convenu | 5 % | 0,10 % | 0 % |
| Euro E (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,10 % | 0 % |
| Euro E (Dist.) (couverte) | EUR | Comme convenu | 5 % | 0,10 % | 0 % |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,10 % | 0 % |
| Sterling E (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,10 % | 0 % |
| CHF E (Cap.) (couverte) | CHF | Comme convenu | 5 % | 0,10 % | 0 % |
| CHF E (Dist.) (couverte) | CHF | Comme convenu | 5 % | 0,10 % | 0 % |
| CAD E (Cap.) (couverte) | CAD | Comme convenu | 5 % | 0,10 % | 0 % |
| CAD E (Dist.) (couverte) | CAD | Comme convenu | 5 % | 0,10 % | 0 % |

| Actions « L » et Actions « L (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD L (Cap.) | USD | Comme convenu | 5 % | 0,16 % | 0 % |
| USD L (Dist.) | USD | Comme convenu | 5 % | 0,16 % | 0 % |
| Euro L (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,16 % | 0 % |
| Euro L (Dist.) (couverte) | EUR | Comme convenu | 5 % | 0,16 % | 0 % |
| Sterling L (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,16 % | 0 % |
| Sterling L (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,16 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Cap.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Dist.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Cap.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Dist.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à fournir des performances et des niveaux de volatilité similaires à ceux de l’indice de référence (détaillé ci-dessous) à moyen et long terme
avant déduction des commissions et frais.

##### Politique d’investissement
Le Compartiment vise à atteindre son objectif d’investissement en acquérant une exposition diversifiée aux titres présentant des caractéristiques de crédit et d’échéance similaires à celles de l’indice Bloomberg
Barclays US Corporate High Yield Bond TR Index (l’« Indice de référence ») en investissant dans des
obligations, bons du Trésor, débentures, certificats de
dépôt, billets de trésorerie, dépôts à terme et placements privés (c.-à-d. des obligations Reg S et des obligations 144A) (ci-après, les « Titres de créance et apparentés ») et dans des IFD. Le reste des actifs peut être investi en actifs liquides ou quasi liquides, tel que décrit dans la section « Gestion de la liquidité et des garanties » ci-dessous.
Le Compartiment investira dans des Titres de créance et apparentés pouvant être à taux fixe ou variable et émis ou garantis par toute société ou autre émetteur
commercial inclus dans l’Indice de référence. Le
Gestionnaire de portefeuille prévoit d’investir majoritairement dans des Titres de créance et
apparentés émis par des émetteurs dont le siège social se trouve aux États-Unis ou qui y exercent la partie prédominante de leur activité économique (« Émetteurs américains »), bien que le Compartiment puisse également investir dans des Titres de créance et apparentés émis par des Émetteurs non américains, si de
tels émetteurs sont inclus dans l’Indice de référence. Les
Titres de créance et apparentés dans lesquels le
Compartiment investit doivent essentiellement être des titres de qualité inférieure à investment grade, tel que déterminé par Agence de notation reconnue au moment
de l’achat.
Le Compartiment peut être exposé jusqu’à 10 % de sa Valeur liquidative à des titres convertibles conditionnels (« CoCo »). Veuillez consulter la section du Prospectus
intitulée « Risque lié aux titres convertibles conditionnels (« CoCo ») pour plus de détails sur les risques associés aux CoCo.
Le Compartiment investira principalement directement dans les Titres de créance et apparentés sous-jacents
inclus dans l’Indice de référence, mais investira
également, à titre accessoire, dans des composantes de l’Indice de référence via des indices de swaps de défaut de crédit (« CDS »), comme indiqué dans la section
« Indices financier » ci-dessous, et dans des organismes de placement collectif (« OPC »).
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des OPC, y compris des fonds négociés
en Bourse (« ETF ») à capital variable et des fonds monétaires.
Le Compartiment peut investir au total jusqu’à 10 % de sa Valeur liquidative dans des valeurs mobilières, dont, entre autres, des instruments du marché monétaire et
des Titres de créance et apparentés qui ne sont pas admis à la cote officielle d’une Bourse des valeurs ni négociés sur un Marché éligible, conformément à la Réglementation OPCVM. À l’exception des investissements autorisés dans des titres non cotés et
dans des OPC à capital variable, le Compartiment
investira dans des actifs, y compris des IFD cotés ou négociés sur les Marchés éligibles repris dans l’Annexe II du Prospectus.

##### Gestion de la liquidité et des garanties
Le Compartiment peut également détenir des actifs liquides et quasi liquides dans certaines circonstances. Il
se peut, par exemple, que les conditions du marché requièrent l’adoption d’une stratégie d’investissement défensive, mais le Compartiment peut également détenir
du numéraire en dépôt en attente de réinvestissement, pour financer le rachat d’actions ou le paiement de frais ou afin de fournir des garanties pour les contrats d’IFD.
Les actifs liquides ou quasi liquides peuvent comprendre des Titres de créance et apparentés, ainsi que des instruments, obligations, bons du Trésor, certificats de dépôt, billets à taux variable et billets de trésorerie, à taux fixe ou variable, émis ou garantis par tout gouvernement souverain ou ses agences, des collectivités locales, des organismes supranationaux ou internationaux publics, des banques, des sociétés ou tous autres émetteurs commerciaux et pouvant avoir une échéance supérieure à 1 an. Il est prévu que les
émetteurs et/ou garants de tous ces titres et instruments auront une notation de crédit, au moment de l’achat, au
moins égale à A1/P1 (ou son équivalent) publiée par une Agence de notation reconnue, ou seront jugés être d’une qualité équivalente par le Gestionnaire de portefeuille.

##### Indice de référence
L’indice Bloomberg Barclays U.S. Corporate High Yield TR Index (l’« Indice de référence »)
L’Indice de référence représente le marché des obligations d’entreprise à taux fixe, à haut rendement et libellées en dollars américains. Le Compartiment fournira
principalement une exposition aux émetteurs américains représentés dans l’Indice de référence et investira directement dans les composantes de l’indice en question et indirectement via des IFD.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Gestionnaire de portefeuille utilisera l’Indice de référence pour construire l’univers d’investissement. Le Compartiment est géré activement et ne vise pas à répliquer toutes les composantes de l’Indice de référence. Le Gestionnaire de portefeuille jouit d’un pouvoir discrétionnaire limité pour investir en dehors de l’Indice de référence sur la base de l’objectif et de la politique d’investissement.
La majorité des participations du Compartiment seront des composantes de l’Indice de référence et, par conséquent, le Compartiment sera exposé de manière
similaire aux différentes devises et aux différents secteurs, et présentera également un profil similaire en
matière d’échéance et de qualité de crédit.
La stratégie d’investissement restreint la mesure dans laquelle les participations du portefeuille peuvent s’écarter de l’Indice de référence et, par conséquent, la mesure dans laquelle le Fonds peut surclasser l’Indice de référence. La stratégie d’investissement permet d’obtenir une volatilité similaire à celle de l’indice de référence sur le moyen et le long terme.

##### Stratégie d’investissement
Une approche descendante est utilisée pour construire un portefeuille basé sur l’Indice de référence qui fournit un « bêta efficace ». Le terme « Bêta » fait référence à l’acquisition de l’exposition de marché tandis que
« efficace » fait référence à l’atteinte du coefficient
« bêta » souhaité grâce aux décisions et stratégies d’investissement réfléchies et rentables du Gestionnaire de portefeuille.
Une sélection de titres de créance et apparentés sera opérée dans le processus de construction du portefeuille en identifiant les caractéristiques rendement/écart,
risque, secteur et qualité des composantes de l’Indice de
référence et en sélectionnant les Titres de créance et
apparentés de sorte que les indicateurs globaux de rendement/écart, risque, secteur et qualité des participations du Compartiment et son bêta
correspondent de près à ceux de l’Indice de référence.
L’application du modèle de crédit propriétaire du Gestionnaire de portefeuille affine le processus de
sélection de titres. Ce modèle de crédit évalue et classe l’univers d’investissement en collectant des informations sur les marchés financiers et les bilans des entreprises
pour aider à identifier la valeur appropriée à laquelle un Titre de créance ou titre apparenté devrait se négocier et intègre des indicateurs fondamentaux tels que la qualité
des bénéfices (marge brute et rentabilité) et les révisions des bénéfices. Le Gestionnaire de portefeuille intègre les informations du modèle de crédit dans le processus de sélection des actifs et dans son suivi permanent de
l’univers investissable. Ainsi, le modèle permet au
Gestionnaire de portefeuille à identifier les titres de
créance et apparentés avec une probabilité plus élevée
de dégradation, de défaut ou de sous-performance par rapport à l’Indice de référence. Le Gestionnaire de portefeuille s’assurera alors que l’exposition du Compartiment à ces Titres de créance et apparentés sera
égale ou inférieure à la pondération de tels Titres de créance et apparentés dans l’Indice de référence.
Le Gestionnaire de portefeuille cherchera à utiliser des stratégies de rotation efficaces pour gérer le portefeuille de manière rentable, lequel pourra, par exemple, détenir
des obligations qui ne sont plus incluses dans l’Indice de
référence, mais dont la vente entraînerait des frais de
négociation inutiles. Bien que le Gestionnaire de portefeuille recherche un rendement qui reflète l’Indice de référence à moyen et long terme, il n’a pas pour objectif de répliquer l’Indice de référence au jour le jour. Cela signifie que le Gestionnaire de portefeuille ne se concentre pas sur l’écart de suivi du Compartiment par
rapport à l’Indice de référence, et qu’il ne prend pas de mesures destinées à minimiser l’écart de suivi. Au
contraire, en associant des stratégies qui corrigent les anomalies détectées au sein de l’Indice de référence, le Gestionnaire de portefeuille cherche à offrir une solution d’investissement à « bêta efficace » aux investisseurs.

##### Règlement sur la publication d’informations en matière de finance durable
Du fait de l’objectif d’investissement, le Gestionnaire de portefeuille dispose d’un pouvoir discrétionnaire limité pour s’écarter des caractéristiques et des expositions de l’Indice de référence. Ce pouvoir discrétionnaire lui permet, par exemple, d’investir dans des titres non inclus dans l’Indice de référence lorsque ces titres répondent aux exigences de l’Indice de référence et devraient à l’avenir être inclus dans l’Indice de référence, et
également de continuer à détenir des titres inclus dans l’Indice de référence au moment de l’achat, même s’ils sont ensuite retirés. L’Indice de référence ne prend pas en compte les facteurs ESG ni les risques en matière de
durabilité. Par conséquent, le Gestionnaire de portefeuille n’intègre pas les risques en matière de durabilité (qui sont définis comme un événement ou une condition ESG
qui, en cas de survenance, pourrait avoir un impact
négatif réel ou potentiel important sur la valeur de l’investissement concerné [un « Événement ESG »]) dans ses décisions d’investissement. Toutefois, en raison de la nature diversifiée du Compartiment, le Gestionnaire de
portefeuille a déterminé que le risque en matière de durabilité était minimal.
Le Gestionnaire a prudemment évalué les exigences du régime des principales incidences négatives prévu à
l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire
soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs
de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du
manque de données facilement accessibles pour se conformer aux nombreuses exigences techniques du
régime en matière de reporting. Le Gestionnaire continue d’analyser les données disponibles qui seraient nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins
d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur obligations |
| --- | --- |
| Swaps | Swaps de défaut de crédit (CDS) |
| Titres avec IFD intégrés/effet de levier | Titres convertibles conditionnels (CoCo) |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne peut pas accéder
directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe américains d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | IHS Markit CDX North American High Yield |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Toutefois, le Compartiment n’ayant pas pour objectif de répliquer ou de suivre ces indices, il ne sera pas directement impacté
par le rééquilibrage, les coûts associés ou toute pondération en actions des indices qui ne respecterait
pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices mentionnés ci-dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement qui n’est pas indiqué dans la liste
ci-dessus, des informations détaillées, notamment sur le marché qu’il représente et des références pour obtenir des informations supplémentaires, seront présentées
dans les comptes semestriels et annuels de la Société.

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 100 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats à terme, et bons de
souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du
Prospectus intitulée « La Société – Gestion efficace de
portefeuille » pour de plus amples informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la
contrepartie sont fournis aux rubriques du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories d’actions non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action
respectif, à savoir de 1 USD, 1 GBP, 1 EUR, 1 CHF ou
1 CAD selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés trimestriellement, les
31 décembre, 31 mars, 30 juin et 30 septembre. En ce qui concerne les détenteurs d’Actions de distribution, les dividendes déclarés seront normalement versés au plus
tard le 11 février, le 11 mai, le 11 août et le 11 novembre, respectivement. De plus amples informations sont
disponibles à la section « La Société – Politique de
distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis dans la rubrique intitulée « Gestion et
administration de la Société – Commissions et frais » du Prospectus. La commission annuelle de gestion perçue
par le Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Emerging Markets Debt Total Return Fund

### SUPPLÉMENT 40, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Les commissions de gestion et autres frais du Compartiment seront imputés au capital du Compartiment en vue de maximiser les distributions.

Veuillez consulter la section « Commissions et
frais » dans le Prospectus pour plus d’informations.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. L’utilisation d’IFD à des fins d’investissement sera limitée. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.
- Le Compartiment peut, dans certains cas exceptionnels, effectuer des investissements importants dans des dépôts auprès d’établissements de crédit. Même si le Compartiment peut investir dans des instruments du marché monétaire et des dépôts en numéraire, les Actions dans le Compartiment ne sauraient constituer des dépôts et diffèrent des dépôts par nature en ceci que l’investissement n’est pas garanti et que sa valeur est susceptible de fluctuer. Les investissements dans le Compartiment impliquent certains risques d’investissement, dont la perte éventuelle du capital.


#### Gestionnaire de portefeuille
Insight Investment Management (Global) Limited
Le Gestionnaire de portefeuille peut déléguer ses fonctions de gestion à un Gestionnaire de portefeuille délégué et/ou désigner un conseiller en investissement délégué pour assurer un service de conseil en investissement conformément aux exigences de la Banque centrale. À la date du présent Supplément, le Gestionnaire de portefeuille a désigné le Gestionnaire de portefeuille délégué indiqué ci-dessous.

#### Gestionnaire de portefeuille délégué
Le Gestionnaire de portefeuille peut déléguer certaines ou la totalité de ses fonctions de gestion
d’investissement eu égard au présent Compartiment à
Insight North America LLC (le « Gestionnaire de
portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique
« Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée occasionnellement par les Administrateurs, à condition
que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale
et le niveau des commissions et frais prélevés. Les catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD A (Cap.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| Euro H (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro H (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| CHF H (Cap.) (couverte) | CHF | 5 000 | 5 % | 1,00 % | 0 % |
| CAD H (Cap.) (couverte) | CAD | 5 000 | 5 % | 1,00 % | 0 % |
| CAD H (Dist.) (couverte) | CAD | 5 000 | 5 % | 1,00 % | 0 % |
| AUD H (Cap.) (couverte) | AUD | 5 000 | 5 % | 1,00 % | 0 % |
| AUD H (Dist.) (couverte) | AUD | 5 000 | 5 % | 1,00 % | 0 % |
| SGD H (Cap.) (couverte) | SGD | 5 000 | 5 % | 1,00 % | 0 % |
| SGD H (Dist.) (couverte) | SGD | 5 000 | 5 % | 1,00 % | 0 % |
| CNH H (Cap.) (couverte) | CNH | 50 000 | 5 % | 1,00 % | 0 % |
| CNH H (Dist.) (couverte) | CNH | 50 000 | 5 % | 1,00 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 0,80 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 0,80 % | 0 % |
| Euro G (Cap.) (couverte) | EUR | 5 000 | 5 % | 0,80 % | 0 % |
| Euro G (Dist.) (couverte) | EUR | 5 000 | 5 % | 0,80 % | 0 % |
| Sterling G (Cap.) (couverte) | GBP | 5 000 | 5 % | 0,80 % | 0 % |
| Sterling G (Dist.) (couverte) | GBP | 5 000 | 5 % | 0,80 % | 0 % |
| CHF G (Cap.) (couverte) | CHF | 5 000 | 5 % | 0,80 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 0,80 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 0,80 % | 0 % |
| Euro I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 0,80 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 0,80 % | 0 % |
| CHF I (Cap.) (couverte) | CHF | 5 000 000 | 5 % | 0,80 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,55 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,55 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,55 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,55 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,55 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,55 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,55 % | 0 % |
| CAD W (Cap.) (couverte) | CAD | 15 000 000 | 5 % | 0,55 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| CAD W (Dist.) (couverte) | CAD | 15 000 000 | 5 % | 0,55 % | 0 % |
| AUD W (Cap.) (couverte) | AUD | 15 000 000 | 5 % | 0,55 % | 0 % |
| AUD W (Dist.) (couverte) | AUD | 15 000 000 | 5 % | 0,55 % | 0 % |
| SGD W (Cap.) (couverte) | SGD | 15 000 000 | 5 % | 0,55 % | 0 % |
| SGD W (Dist.) (couverte) | SGD | 15 000 000 | 5 % | 0,55 % | 0 % |
| CNH W (Cap.) (couverte) | CNH | 150 000 000 | 5 % | 0,55 % | 0 % |
| CNH W (Dist.) (couverte) | CNH | 150 000 000 | 5 % | 0,55 % | 0 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD E (Cap.) | USD | Comme convenu | 5 % | 0,45 % | 0 % |
| USD E (Dist.) | USD | Comme convenu | 5 % | 0,45 % | 0 % |
| Euro E (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,45 % | 0 % |
| Euro E (Dist.) (couverte) | EUR | Comme convenu | 5 % | 0,45 % | 0 % |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,45 % | 0 % |
| Sterling E (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,45 % | 0 % |
| CHF E (Cap.) (couverte) | CHF | Comme convenu | 5 % | 0,45 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Cap.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Cap.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Dist.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment a pour objectif de générer un rendement total supérieur à celui de l’indice de référence, tel que décrit plus en détail ci-dessous.

##### Politique d’investissement
Le Compartiment cherche à atteindre son objectif en investissant essentiellement (c’est-à-dire au moins les trois quarts de sa Valeur liquidative) dans des titres de
créance et apparentés à taux fixe et variable émis par des émetteurs souverains, gouvernementaux, des institutions supranationales, des agences, des organisations publiques internationales, des établissements financiers, des autorités locales et des sociétés qui ont un lien économique avec les pays émergents.
Les titres de créances et titres apparentés dans lesquels le Compartiment peut investir comprennent des
débentures, des obligations (p. ex. des obligations à coupon zéro, des obligations d’agence gouvernementale, des obligations municipales, des obligations sécurisées, des obligations avec remboursement anticipé à l’option
du détenteur (puttable) ou de l’émetteur (callable), des
obligations TOB, des obligations toggle, des obligations à
basculement, des obligations à taux progressif, des obligations assorties de paiements en nature, des euro- obligations, des obligations Bullet et des obligations du Trésor), des obligations liées au PIB, des instruments du marché monétaire (p. ex. des bons du Trésor local, des certificats de dépôt, des billets de trésorerie et des dépôts à terme), des billets (p. ex. des billets à taux variable, des billets payables à vue à taux variable et des bons de participation à des prêts), des placements privés (p. ex. des obligations Reg S ou 144A), des obligations hybrides (p. ex. des obligations perpétuelles, des obligations reportables comme les obligations cumulatives et non cumulatives, et les titres privilégiés
de trusts), des obligations à intérêts différés, des obligations convertibles et des titres convertibles conditionnels (« Coco »), ci-après « Titres de créances et apparentés ». Les Titres de créances et titres apparentés peuvent être libellés en devises fortes ou locales.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des CoCo. Veuillez consulter la section
du Prospectus intitulée « Risque lié aux titres convertibles conditionnels (« CoCo ») pour plus de détails sur les risques associés aux CoCo.
Le Compartiment peut investir dans des certificats d’intérêts résiduel émis par des fiducies d’obligations TOB si cela constitue un moyen plus rentable de s’exposer à des obligations municipales que d’investir directement dans les obligations municipales sous-
jacentes.
Le Compartiment investira directement dans des Titres de créances et titres apparentés, ou indirectement en utilisant des produits financiers dérivés (comme prévu
dans la section ci-dessous, intitulée « Utilisation d’IFD »).
Le Compartiment peut investir au total jusqu’à 10 % de sa Valeur liquidative dans des organismes de placement collectif (« OPC ») comme des fonds monétaires, par
exemple des OPCVM irlandais gérés par Insight Investment Funds Management Limited et conseillés par le Gestionnaire de portefeuille.
Le Gestionnaire de portefeuille peut investir dans des titres de qualité investment grade (c.-à-d. notés BBB- ou plus) ou inférieure à investment grade (c.-à-d. notés BB+
ou moins), tel que déterminé par une Agence de notation reconnue, et ses choix d’investissements ne seront pas restreints par des questions de qualité de crédit ou de d’échéance. Par conséquent, les investissements du Compartiment ne seront pas soumis à une notation de crédit minimum et pourront être d’une qualité inférieure à investment grade.
Le Compartiment peut investir plus de 10 % et jusqu’à 35 % de sa Valeur liquidative dans des titres de créance émis et/ou garantis par un même émetteur souverain (y
compris son gouvernement et les autorités publiques ou locales), de qualité inférieure à investment grade, comme
défini ci-dessus. Le Brésil, l’Indonésie et la Turquie sont des exemples d’émetteurs souverains. Ces investissements sont basés sur (i) l’indice de référence
(voir la section « Indice de référence » ci-dessous) et/ou
(ii) l’appréciation professionnelle du Gestionnaire de portefeuille, dont les motifs d’investissement peuvent inclure des perspectives positives/favorables pour l’émetteur souverain, une possible amélioration de la
notation et des variations attendues de la valeur des
investissements après le changement de notation. Veuillez noter que la notation des émetteurs souverains peut changer de temps à autre et que les émetteurs souverains susmentionnés servent uniquement de référence et peuvent changer selon leur notation.
À l’exception des investissements autorisés dans des titres non cotés et dans des OPC à capital variable, les
investissements du Compartiment dans des titres de créance et apparentés et des IFD se feront dans des
actifs cotés ou négociés sur les Marchés éligibles repris dans l’Annexe II du Prospectus.
Le Compartiment peut investir jusqu’à 15 % de sa Valeur liquidative dans des titres cotés ou négociés sur la Bourse de Moscou.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des Titres de créance et apparentés en
République populaire de Chine (« RPC ») négociés sur le marché obligataire interbancaire chinois (« CIBM ») via le programme Bond Connect (décrit plus en détail à
l’Annexe VI du Prospectus).

##### Gestion de la liquidité et des garanties
Dans certaines circonstances, et à des fins de gestion des flux de trésorerie, le Compartiment peut également détenir temporairement des quantités importantes
d’actifs liquides ou quasi liquides (c’est-à-dire jusqu’à
100 % de sa Valeur liquidative). Il se peut, par exemple, que les conditions du marché requièrent l’adoption d’une stratégie d’investissement défensive (pas ex. effondrement du marché ou crise majeure). Néanmoins,
le Compartiment peut également détenir du numéraire en
dépôt en attente de réinvestissement, pour financer le rachat d’actions ou le paiement de frais ou afin de fournir des garanties pour les contrats d’IFD.
Les actifs quasi liquides peuvent inclure des Titres de
créance et apparentés à taux fixe et variable, dont l’échéance est supérieure à 1 an, et qui sont émis par des émetteurs souverains, gouvernementaux, des
institutions supranationales, des agences, des organisations publiques internationales, des établissements financiers, des autorités locales ou des sociétés qui ont un lien économique avec les pays émergents. Il est prévu que les émetteurs et/ou garants de tous ces titres et instruments auront une notation de
crédit, au moment de l’achat, au moins égale à A1/P1 (ou
son équivalent) publiée par une Agence de notation reconnue, ou seront jugés être d’une qualité équivalente par le Gestionnaire de portefeuille.

##### Indice de référence
L’indice mixte composé pour 1/3 de l’indice JP Morgan Government Bond Index – Emerging Markets Global Diversified TR Index, pour 1/3 Indice de l’indice JP Morgan Emerging Markets Bond Index Global Diversified TR Index et pour 1/3 de l’indice JP Morgan Corporate Emerging Markets Bond Index Broad Diversified TR Index (l’« Indice de référence mixte »).
L’indice JPM GBI-EM Global Diversified constitue une mesure exhaustive des titres d’État à taux fixe libellés en devises locales et émis sur les marchés émergents.
L’indice comprend les obligations d’État liquides, à taux
fixe, dîtes « Bullet » (intégralement remboursables à l’échéance), ayant une échéance résiduelle d’au moins treize mois.
L’indice JPM EMBI Global Diversified est un indice de référence qui offre une représentation exhaustive des marchés émergents libellés en dollars américains.
L’indice peut inclure les obligations Brady libellées en
dollars américains et les euro-obligations émises par des
entités souveraines et quasi souveraines de marchés émergents.
L’indice JPM CEMBI Broad Diversified est un indice de référence liquide comprenant les titres de sociétés
situées dans des marchés émergents à travers le monde, y compris les obligations libellées en dollars américains émises par des sociétés des marchés émergents.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence mixte.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour investir en dehors de l’Indice de référence mixte sur la base de l’objectif et de la politique d’investissement. Bien que les
avoirs du Compartiment puissent inclure des composantes de l’Indice de référence mixte, la sélection des investissements et leurs pondérations dans le portefeuille ne sont pas influencées par l’indice en
question. La stratégie d’investissement ne limite pas la
mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence mixte.

##### Stratégie d’investissement
La stratégie d’investissement du Compartiment est basée sur l’identification des pays émergents qui entreprennent des réformes structurelles et économiques laissant
présager une réforme structurelle et une amélioration de l’économie. Ces politiques, d’efficacité variable, offrent une large palette d’opportunités d’investissement que le
Gestionnaire de portefeuille cherchera à évaluer avant de décider d’investir ou pas dans des Titres de créance et apparentés, des OPC et des IFD listés dans la section
« Utilisation d’IFD » ci-dessous.
Le Gestionnaire de portefeuille effectuera des recherches fondamentales à grande échelle sur chaque pays
émergent, en utilisant une combinaison d’instruments
quantitatifs et qualitatifs, afin de former un jugement sur l’amélioration ou la détérioration de leur qualité de crédit. Le Gestionnaire de portefeuille identifiera ensuite
quantitativement les primes de risque (c.-à-d. le
supplément de rendement par rapport au rendement sans risque) (ou la prime de taux d’intérêt) des obligations, des taux d’intérêt et des marchés de devises de chacun des pays et décidera si, selon lui, ces primes
compensent suffisamment les risques pris par les investisseurs. Une fois cette analyse complétée, le Gestionnaire de portefeuille pourra décider quel
pourcentage d’actifs du Compartiment investir dans les
Titres de créances et titres apparentés, OPC et IFD.
Cette stratégie d’investissement a pour but particulier de générer de l’alpha, une mesure de performance (il s’agit du rendement excédentaire du Compartiment par rapport au rendement de l’indice de référence mixte),par le biais
de :
- L’allocation géographique : distinguer les pays dont le crédit s’améliore de ceux dont le crédit se détériore ;
- La sélection de titres : choisir les titres qui présentent les meilleurs conditions de risque/ rendement selon l’environnement de marché, ensuivant le processus présenté plus haut ;
- L’analyse de crédit et réglementaire des obligations d’entreprise issues de pays émergents ;
- La gestion de liquidité : mesurer la liquidité d’un titre avant de l’ajouter au portefeuille et déterminer s’il est pertinent de l’incorporer, selon les besoins en liquidité du Compartiment ;
- L’allocation d’actifs : mesurer les meilleures opportunités de rendement offertes par les Titres decréances et titres apparentés, les OPC et les IFD issus de pays émergents. Selon l’étape du cycle d’investissement, les perspectives de rendement et la valeur des Titres de créances et titres apparentés,des OPC ou des IFD peut varier. Grâce aux instruments quantitatifs et qualitatifs décrits plus haut, le Gestionnaire de portefeuille accordera unpoids plus important aux classes d’actifs qui lui semblent offrir les opportunités les plusintéressantes, selon les conditions du marché actuelles et attendues.

Selon notre philosophie d’investissement, l’évolution des caractéristiques d’une classe d’actifs dans le temps crée des opportunités pour générer de l’alpha :
- Les pays émergents présentent un large éventail de tailles et de complexités diverses, et l’évolution positive de leur qualité de crédit suit autant detrajectoires différentes ;
- Les différences structurelles fondamentales et géographiques entre les pays émergents, comme le niveau d’activité économique ou le poids de la detteglobal, offrent des opportunités de diversification.
- Les marchés de capitaux offrent de plus en plus de possibilités, car les nouveaux marchés évoluent et de nouveaux pays créent de la dette ou remboursentleur dette (sortant ainsi de la classe d’actifscorrespondant à la dette émergente) du fait de leurpassage à une économie développée.

Les obligations, les taux d’intérêts et les marchés de devises ont des caractéristiques cycliques qui offrent des opportunités d’allocation d’actifs active.

##### Règlement sur la publication d’informations en matière de finance durable
Lorsque le Gestionnaire de portefeuille évalue le risque
en matière de durabilité associé aux investissements sous-jacents du Compartiment, il évalue le risque qu’un événement ou une condition ESG (« Événement ESG ») ait
une incidence négative importante sur la valeur de ces investissements sous-jacents. Les risques en matière de durabilité sont inclus dans le programme
d’investissement responsable du Gestionnaire de
portefeuille et sont gérés en veillant à ce que les décideurs de haut rang soient informés et à l’aide des procédures efficaces de responsabilisation, de transparence et d’application. Lorsque les questions de risque en matière de durabilité sont considérées comme
importantes pour les résultats d’investissement, elles sont intégrées aux processus d’étude préalable. Cette mesure peut inclure l’évaluation de titres individuels et/ ou l’interaction avec des émetteurs ou des acteurs du
marché. Les contrôles internes garantissent une
application permanente des critères de durabilité au Compartiment. Les restrictions ESG, qui comprennent des notations ESG attribuées en interne et des données externes fournies par des tiers, sont destinées à
empêcher ou permettre l’investissement dans des titres
qui répondent à des caractéristiques de durabilité. Ces
contrôles sont codés par rapport au Compartiment et mis à jour à mesure que de nouvelles informations sont reçues et intégrées.
La gouvernance d’entreprise est un facteur de risque clé en matière de durabilité et fait partie du processus de
notation des risques ESG interne appliqué à tous les émetteurs. L’évaluation de la gouvernance d’entreprise effectuée par le Gestionnaire de portefeuille comprend l’évaluation des pratiques, du comportement, de la rémunération, du contrôle, de la responsabilité et de l’éthique du conseil d’administration ou des controverses le concernant. Le Gestionnaire de portefeuille utilise les
résultats des évaluations ESG, en plus de ses propres connaissances des structures de gouvernance des
émetteurs, pour fixer des priorités d’engagement avec ces derniers. Le Gestionnaire de portefeuille examine ces
risques dans leur ensemble afin de décider si un investissement compense raisonnablement un fonds pour les risques en matière de durabilité encourus à long et court terme.
En termes de facteurs sociaux et environnementaux, la méthode de notation ESG interne du Gestionnaire de
portefeuille fournit des informations spécifiques au secteur et à l’émetteur sur des questions clés. Ce modèle aide le Gestionnaire de portefeuille à identifier les
risques clés auxquels un secteur ou un émetteur spécifique peut être confronté.
Le Compartiment peut générer des performances inférieures ou se comporter de manière différente par
rapport à d’autres fonds comparables qui n’intègrent pas
les risques en matière de durabilité dans leurs décisions d’investissement. Par ailleurs, il est toujours possible que sa valeur soit négativement affectée par un Événement
ESG.
Le Gestionnaire a prudemment évalué les exigences du régime des principales incidences négatives prévu à
l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire
soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences
négatives des décisions d’investissement sur les facteurs
de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du
régime en matière de reporting. Le Gestionnaire continue d’analyser les données disponibles qui seraient nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins
| Contrats à terme standar- disés | Contrats à terme standardisés sur devises Contrats à terme standardisés sur taux d’intérêt (y compris à court terme) Contrats à terme standardisés sur Obligations d’État |
| --- | --- |
| Options | Options sur actions (indice, secteur, ETF, panier personnalisé) Options sur devises Options sur contrats à terme standardisés de taux d’intérêt Options sur obligations |
| Contrats à terme | Contrats de change à terme |

d’investissement :
| Swaps | Swaps de défaut de crédit (« CDS ») (sur valeur individuelle, indice) Swaps de taux d’intérêt Swaps de devises Swaps de rendement total (sur valeur individuelle, indice et panier [dans ce dernier cas, dont les composantes sous-jacentes peuvent être groupées par secteur, région ou d’autres caractéristiques]) |
| --- | --- |
| Titres avec IFD intégrés/effet de levier | Obligations convertibles Titres convertibles conditionnels (CoCo) Obligations avec remboursement anticipé à l’option du détenteur (puttable) ou de l’émetteur (callable) |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices financiers suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne
peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | Markit CDX Emerging Markets Index |
| Indices de swaps de rendement total (« TRS») utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficiente qu’avec l’achat de titres physiques. | Markit iBoxx GEMX Index |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Les
indices financiers restants seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages,
les coûts associés ou la pondération des actions de l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 100 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier »

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés,
options, swaps, contrats sur différence, titres avec IFD intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des OFT, c’est à
dire des accords de prêt de titres et des accords de
mise/prise en pension, comme décrit sous la rubrique
« Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et
aux OFT correspondent respectivement à 15 % et 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que ces expositions respectives aux TRS et aux OFT excèdent
15 % et 25 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet de TRS et OFT seront les titres dont la nature est conforme à la politique d’investissement du
Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leurs Périodes d’offre initiale respectives à leurs prix d’offre initiale par Action respectifs, à savoir de 1 USD, 1 GBP, 1 EUR, 1 CHF, 1 CAD,
1 AUD, 1 SGD ou 10 CNH selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de souscription applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés trimestriellement, les
31 décembre, 31 mars, 30 juin et 30 septembre. En ce qui concerne les détenteurs d’Actions de distribution, les dividendes déclarés seront normalement versés au plus
tard le 11 février, le 11 mai, le 11 août et le 11 novembre, respectivement. De plus amples informations sont
disponibles à la section « La Société – Politique de
distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à la rubrique « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Multi-Asset High Income Fund

### SUPPLÉMENT 41, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
Le présent Supplément contient des informations spécifiques relatives au Compartiment BNY Mellon Multi- Asset High Income (le « Compartiment »), compartiment de BNY Mellon Global Funds, plc (la « Société »), société
d’investissement à capital variable à compartiments
constituée en OPCVM, conformément aux dispositions de
la Réglementation OPCVM. Il existe une responsabilité séparée entre les Compartiments de la Société.
Ce Compartiment a été clôturé par voie d’un rachat forcé et toutes les Actions en circulation au 28 août 2018 ont été obligatoirement rachetées. Les Actions du
Compartiment ne sont plus disponibles pour l’investissement. La Société prévoit de déposer une demande auprès de la Banque centrale afin que l’agrément du Compartiment soit révoqué à la suite de la
préparation des états financiers audités pour l’exercice
clôturé le 31 décembre 2018. La Société demandera l’accord de la Banque centrale pour retirer ce Compartiment du présent Prospectus après l’approbation de cette révocation.
Le présent Supplément fait partie intégrante de, et doit être lu conjointement avec la description générale :
- de ses catégories d’actions
- de ses restrictions en matière d’investissement et d’emprunt
- de sa politique de distribution
- de sa méthode de calcul de la Valeur liquidative
- de la Société, de sa Gestion et de son Administration
- des commissions et frais de la Société
- de ses Facteurs de risque
- du régime fiscal de la Société et de ses Actionnaires
- contenue dans le Prospectus de la Société en date du 3 mai 2022, qui est fournie avec le présent Supplément. Si vous n’avez pas reçu le Prospectus, veuillez prendre contact avec l’Agent administratif.
- Les Administrateurs, dont les noms sont cités sous la rubrique « Gestion et administration de la Société » du Prospectus, assument la responsabilité des informations contenues dans le présent Supplément et dans le Prospectus. À la connaissance des Administrateurs (qui ont pris toutes les précautionsraisonnables pour s’en assurer), ces informations sont conformes à la réalité des faits et n’omettent aucun élément qui serait susceptible d’en affecter la teneur. En conséquence, les Administrateurs enassument la responsabilité.
- Le Compartiment peut recourir à des instruments financiers dérivés (« IFD ») à des finsd’investissement, de couverture et de gestion efficace de portefeuille. L’utilisation d’IFD à des fins d’investissement sera limitée. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Restrictions en matière d’investissement et d’emprunt – Exposition globale et effet de levier » ci-après. Référez-vous également à la rubrique« Risques liés aux instruments dérivés » dans le Prospectus sous la rubrique « Facteurs de risque ».
- Les commissions de gestion et autres frais du Compartiment seront imputés au capital du Compartiment en vue de maximiser les distributions.

Veuillez consulter la section « Commissions et
frais » dans le Prospectus pour plus d’informations.
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Le Gestionnaire a désigné BNY Mellon Asset Management North America Corporation (le « Gestionnaire de
portefeuille ») pour gérer l’investissement et le
réinvestissement des actifs du Compartiment.
Des informations sur le Gestionnaire de portefeuille sont données à la section « Gestion et administration de la Société » du Prospectus.

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée occasionnellement par les Administrateurs, à condition
que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’Heure limite de négociation des demandes de souscription, de rachat ou d’échange est fixée à 17 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les
tableaux ci-après et se différencient par leur devise de référence, leur montant minimum de souscription initiale
et le niveau des commissions et frais prélevés. Les	catégories d’investisseurs auxquels chaque catégorie
d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD A (Cap.) | USD | Jusqu’à 5 % | 5 000 USD | 1,50 % | Aucun(e) |
| USD A (Dist.) | USD | Jusqu’à 5 % | 5 000 USD | 1,50 % | Aucun(e) |
| EUR A (Cap.) | EUR | Jusqu’à 5 % | 5 000 EUR | 1,50 % | Aucun(e) |
| Euro A (Dist.) | EUR | Jusqu’à 5 % | 5 000 EUR | 1,50 % | Aucun(e) |
| Sterling A (Dist.) | GBP | Jusqu’à 5 % | 5 000 GBP | 1,50 % | Aucun(e) |
| HKD A (Cap.) | HKD | Jusqu’à 5 % | 50 000 HKD | 1,50 % | Aucun(e) |
| HKD A (Dist.) | HKD | Jusqu’à 5 % | 50 000 HKD | 1,50 % | Aucun(e) |
| AUD A (Cap.) | AUD | Jusqu’à 5 % | 5 000 AUD | 1,50 % | Aucun(e) |
| AUD A (Dist.) | AUD | Jusqu’à 5 % | 5 000 AUD | 1,50 % | Aucun(e) |
| CAD A (Cap.) | CAD | Jusqu’à 5 % | 5 000 CAD | 1,50 % | Aucun(e) |
| CAD A (Dist.) | CAD | Jusqu’à 5 % | 5 000 CAD | 1,50 % | Aucun(e) |
| CNH A (Cap.) | CNH | Jusqu’à 5 % | 50 000 CNH | 1,50 % | Aucun(e) |
| CNH A (Dist.) | CNH | Jusqu’à 5 % | 50 000 CNH | 1,50 % | Aucun(e) |
| SGD A (Cap.) | SGD | Jusqu’à 5 % | 5 000 SGD | 1,50 % | Aucun(e) |
| SGD A (Dist.) | SGD | Jusqu’à 5 % | 5 000 SGD | 1,50 % | Aucun(e) |
| Euro H (Cap.) (couverte) | EUR | Jusqu’à 5 % | 5 000 EUR | 1,50 % | Aucun(e) |
| Euro H (Dist.) (couverte) | EUR | Jusqu’à 5 % | 5 000 EUR | 1,50 % | Aucun(e) |
| Sterling H (Dist.) (couverte) | GBP | Jusqu’à 5 % | 5 000 GBP | 1,50 % | Aucun(e) |
| AUD H (Cap.) (couverte) | AUD | Jusqu’à 5 % | 5 000 AUD | 1,50 % | Aucun(e) |
| AUD H (Dist.) (couverte) | AUD | Jusqu’à 5 % | 5 000 AUD | 1,50 % | Aucun(e) |
| CAD H (Cap.) (couverte) | CAD | Jusqu’à 5 % | 5 000 CAD | 1,50 % | Aucun(e) |
| CAD H (Dist.) (couverte) | CAD | Jusqu’à 5 % | 5 000 CAD | 1,50 % | Aucun(e) |
| CNH H (Cap.) (couverte) | CNH | Jusqu’à 5 % | 50 000 CNH | 1,50 % | Aucun(e) |
| CNH H (Dist.) (couverte) | CNH | Jusqu’à 5 % | 50 000 CNH | 1,50 % | Aucun(e) |
| SGD H (Cap.) (couverte) | SGD | Jusqu’à 5 % | 5 000 SGD | 1,50 % | Aucun(e) |
| SGD H (Dist.) (couverte) | SGD | Jusqu’à 5 % | 5 000 SGD | 1,50 % | Aucun(e) |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD C (Cap.) | USD | Jusqu’à 5 % | 5 000 000 USD | 1,00 % | Aucun(e) |
| USD C (Dist.) | USD | Jusqu’à 5 % | 5 000 000 USD | 1,00 % | Aucun(e) |
| Euro C (Cap.) | EUR | Jusqu’à 5 % | 5 000 000 EUR | 1,00 % | Aucun(e) |
| Euro C (Dist.) | EUR | Jusqu’à 5 % | 5 000 000 EUR | 1,00 % | Aucun(e) |
| Euro I (Cap.) (couverte) | EUR | Jusqu’à 5 % | 5 000 000 EUR | 1,00 % | Aucun(e) |
| Euro I (Dist.) (couverte) | EUR | Jusqu’à 5 % | 5 000 000 EUR | 1,00 % | Aucun(e) |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD W (Cap.) | USD | Jusqu’à 5 % | 15 000 000 USD | 0,75 % | Aucun(e) |
| USD W (Dist.) | USD | Jusqu’à 5 % | 15 000 000 USD | 0,75 % | Aucun(e) |
| EUR W (Dist.) | EUR | Jusqu’à 5 % | 15 000 000 EUR | 0,75 % | Aucun(e) |
| Sterling W (Dist.) | GBP | Jusqu’à 5 % | 15 000 000 GBP | 0,75 % | Aucun(e) |

| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| HKD W (Dist.) | HKD | Jusqu’à 5 % | 150 000 000 HKD | 0,75 % | Aucun(e) |
| AUD W (Dist.) | AUD | Jusqu’à 5 % | 15 000 000 AUD | 0,75 % | Aucun(e) |
| CAD W (Dist.) | CAD | Jusqu’à 5 % | 15 000 000 CAD | 0,75 % | Aucun(e) |
| CNH W (Dist.) | CNH | Jusqu’à 5 % | 150 000 000 CNH | 0,75 % | Aucun(e) |
| SGD W (Dist.) | SGD | Jusqu’à 5 % | 15 000 000 SGD | 0,75 % | Aucun(e) |
| Euro W (Dist.) (couverte) | EUR | Jusqu’à 5 % | 15 000 000 EUR | 0,75 % | Aucun(e) |
| Sterling W (Dist.) (couverte) | GBP | Jusqu’à 5 % | 15 000 000 GBP | 0,75 % | Aucun(e) |
| AUD W (Dist.) (couverte) | AUD | Jusqu’à 5 % | 15 000 000 AUD | 0,75 % | Aucun(e) |
| CAD W (Dist.) (couverte) | CAD | Jusqu’à 5 % | 15 000 000 CAD | 0,75 % | Aucun(e) |
| CNH W (Dist.) (couverte) | CNH | Jusqu’à 5 % | 150 000 000 CNH | 0,75 % | Aucun(e) |
| SGD W (Dist.) (couverte) | SGD | Jusqu’à 5 % | 15 000 000 SGD | 0,75 % | Aucun(e) |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD E (Cap.) | USD | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |
| USD E (Dist.) | USD | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |
| Euro E (Dist.) | EUR | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |
| HKD E (Dist.) | HKD | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |
| CNH E (Dist.) | CNH | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |
| SGD E (Dist.) | SGD | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |
| Euro E (Dist.) (couverte) | EUR | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |
| CNH E (Dist.) (couverte) | CNH | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |
| SGD E (Dist.) (couverte) | SGD | Jusqu’à 5 % | Comme convenu | 0,50 % | Aucun(e) |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Commission de souscription | Investissement ini- tial minimum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD X (Cap.) | USD | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| USD X (Dist.) | USD | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| Euro X (Cap.) (couverte) | EUR | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |
| Euro X (Dist.) (couverte) | EUR | Aucun(e) | Aucun(e) | Aucun(e) | Aucun(e) |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
L’objectif du Compartiment est d’assurer un revenu et une croissance du capital à long terme.

##### Politique d’investissement
Le Compartiment est un fonds multi-actifs mondial visant à atteindre son objectif grâce aux techniques d’allocation d’actifs et de sélection de titres. Le Compartiment peut investir dans des actions et titres apparentés, ainsi que
dans des titres de créance et apparentés, comme défini ci-dessous. Les actions et titres apparentés sont les suivants : actions ordinaires et privilégiées, actions de sociétés en commandite principale (« MLP ») cotées en Bourse, certificats représentatifs de titres américains et certificats représentatifs de titres internationaux, titres convertibles ou échangeables en actions tels que des
options sur actions, et droits de souscription d’actions.
Les Titres de créance et apparentés sont les suivants :
bons du Trésor, débentures, obligations, dont obligations convertibles et titres convertibles contingents, titres adossés à des actifs (ABS) et titres adossés à des créances hypothécaires (MBS), billets à taux variable dont les caractéristiques sous-jacentes sont de nature
standardisée, obligations indexées sur l’inflation et
instruments du marché monétaire (dont les acceptations
bancaires, les billets de trésorerie, les dépôts à terme et les certificats de dépôt), à taux fixe ou variable, émis ou garantis par un gouvernement souverain ou ses agences, des collectivités locales, des organismes supranationaux ou publics internationaux, des banques, des sociétés ou tous autres émetteurs commerciaux, ci-après, les « Titres de créance et apparentés ».
Les MLP sont des partenariats organisés aux États-Unis qui sont cotés et négociés publiquement sur des marchés
réglementés. L’actif d’une MLP est la propriété d’une
limited liability company (société à responsabilité limitée) ou d’une société en commandite, connue comme l’entité d’exploitation qui possède, à son tour, des filiales et des actifs d’exploitation. Le Compartiment investira
équitablement dans les MLP, notamment en devenant commanditaire de la MLP. Les contrats de partenariat des MLP déterminent le mode de distribution de numéraire aux commanditaires à responsabilité illimitée et à ceux à responsabilité limitée. Toute distribution effectuée par
les MLP sera incluse dans la VL du Compartiment. Aux États-Unis, les MLP sont considérées comme des
partenariats à des fins fiscales et ne paient pas d’impôts
au niveau de la société.
Par ailleurs, le Compartiment peut également investir dans des IFD (tel que décrit ci-dessous à la rubrique
« Utilisation d’instruments financiers dérivés ») et engager jusqu’à 10 % de ses actifs nets dans des organismes de placement collectif (notamment des fonds
négociés en Bourse (« ETF ») et des fonds monétaires). En plus de l’immobilier, des matières premières et des marchés monétaires, les organismes de placement
collectif seront utilisés pour offrir une exposition aux marchés et instruments qui sont conformes aux objectifs et aux politiques du Compartiment et qui satisfont aux
critères exposés dans la note d’orientation de la Banque
centrale.
Le Compartiment peut parfois investir plus de 30 % de ses actifs nets dans des titres non notés ou de qualité inférieure à investment grade (BBB-), ou son équivalent, tel que déterminé par une agence de notation reconnue
(Standard & Poor’s, Moody’s Investor Services, Fitch
Ratings) ou une agence de notation reconnue équivalente.
Le Compartiment n’investira pas plus de 10 % de sa Valeur liquidative dans des titres émis et/ou garantis par
un seul émetteur souverain dont la qualité est inférieure à investment grade. Afin de lever toute ambiguïté, il est
précisé qu’un émetteur souverain désigne un pays, son
gouvernement ou une autorité publique ou locale.
Le Compartiment peut également investir indirectement dans de l’immobilier, des matières premières et des infrastructures. Une telle exposition ne devrait toutefois pas excéder 20 % de ses actifs nets pour l’immobilier ; 20 % pour les matières premières, 20 % pour les
infrastructures et, 50 % pour les trois segments au total. Le Compartiment acquerra une exposition à l’immobilier par le biais d’une exposition à des titres de capital de sociétés dont l’activité principale est la détention, la gestion et/ou la promotion de biens immobiliers, à des
investissements dans des organismes de placement collectif, notamment des sociétés d’investissement immobilier (REIT – Real Estate Investment Trusts) cotés et des contrats à terme standardisés, swaps et options sur
REIT, ou à tous autres indices financiers liés à l’immobilier qui ont été approuvés préalablement par la Banque centrale. Les REIT dans lesquels le Compartiment
peut investir peuvent être à capital variable ou fixe. Tout investissement dans des REIT à capital fixe sera limité à des REIT dont le Gestionnaire de portefeuille estime
qu’ils sont relativement liquides, soit en raison de leur
cotation sur un Marché éligible, soit en raison de l’existence d’un marché secondaire pour les parts de ces REIT. Un tel investissement constituera un investissement
dans une valeur mobilière, conformément aux exigences
de la Banque centrale. Le Compartiment acquerra une exposition aux matières premières et à l’infrastructure par le biais de swaps de rendement total sur des indices
financiers liés aux matières premières et à l’infrastructure, d’ETF et d’autres organismes de placement collectif, conformément aux exigences de la
Banque centrale et de la Réglementation OPCVM.
Le Compartiment peut investir à l’échelle mondiale, et n’est pas tenu de se concentrer sur une zone géographique, une industrie ou un secteur donné(e) pour
construire son exposition aux actions ou autres classes d’actifs. En outre, il peut investir plus de 30 % de ses actifs nets dans des pays émergents, notamment la Russie, la Chine et l’Inde. Toutefois, seulement 20 % des actifs nets du Compartiment seront investis dans des
titres cotés ou négociés en Russie. Le Compartiment peut uniquement investir dans des titres russes négociés sur
la Bourse de Moscou. Avant d’acquérir une exposition directe à l’Inde, le Gestionnaire de portefeuille mettra le Supplément à jour en vue de fournir des informations sur
les accords de délégation de dépositaires et de licences locales concernés et s’assurera que ceux-ci soient mis en place. À l’exception des investissements autorisés dans des titres non cotés et dans des organismes de
placement collectif à capital variable, les investissements du Compartiment dans des titres (y compris des IFD)
seront cotés ou négociés sur les Marchés éligibles repris dans l’Annexe II du Prospectus. Le Compartiment peut aussi investir dans des IFD de gré à gré.
Le Compartiment peut investir au total jusqu’à 10 % de son actif net dans des valeurs mobilières ou des instruments du marché monétaire qui ne sont pas admis
à la cote officielle d’une Bourse des valeurs ni négociés
sur un marché éligible, conformément à la
Réglementation OPCVM, y compris, mais sans que cette liste soit limitative, dans des actions non cotées et des Titres de créance et apparentés.
Bien que sa devise de référence soit l’USD, le Compartiment peut investir dans des actifs non libellés en USD et pas obligatoirement couverts en USD.
Seulement 30 % des actifs nets du Compartiment sera investi dans des titres libellés en won coréen.
Le Compartiment peut également détenir des niveaux élevés d’actifs liquides et quasi liquides dans certaines circonstances. Veuillez vous référer à la section « Gestion
de la liquidité et des garanties » pour obtenir des informations plus détaillées.

##### Stratégie d’investissement
Le Compartiment cherche à assurer un revenu et une croissance du capital par le biais d’une allocation d’actifs dynamique et d’une approche sélective de titres. Cela
signifie que le Gestionnaire de portefeuille allouera ses investissements entre les différentes classes d’actifs et les titres décrits plus en détail à la section « Politique d’investissement » et qu’il ajustera cette allocation en
fonction du processus d’investissement décrit ci-dessous.
- 
##### Allocation aux composantes Actions et Créances

Tout d’abord, le Gestionnaire de portefeuille déterminera l’allocation de ses investissements entre les actions et titres apparentés et les Titres de créance et apparentés à l’aide de prévisions basées sur les facteurs
macroéconomiques fondamentaux comme la croissance économique et l’inflation. Cela signifie que le Gestionnaire de portefeuille allouera ses avoirs en
fonction des estimations liées au risque et au rendement de chaque marché concerné (p. ex., actions britanniques et obligations du gouvernement britannique).
En ce qui concerne la composante Actions, le rendement attendu des actions est estimé en établissant des prévisions de flux de trésorerie pour chaque titre de capital. Le Gestionnaire de portefeuille compare ensuite
les estimations relatives à ses propres prévisions de surprises potentielles aux opinions consensuelles portant
sur les facteurs macroéconomiques afin de déterminer l’allocation aux actions. Ces prévisions sont utilisées en vue d’estimer le risque de récession dans chaque pays. Si ces prévisions indiquent la possibilité d’une récession, le Gestionnaire de portefeuille réduira le nombre d’actions.
En ce qui concerne la composante Créances, le rendement attendu des obligations est estimé en établissant des prévisions sur les rendements monétaires
attendus à l’aide d’estimations portant sur la croissance, l’inflation et les taux d’intérêt réels à long terme. Le rendement attendu des obligations est la différence entre le rendement monétaires attendu et l’analyse personnelle
du Gestionnaire de portefeuille au regard du rendements actuel d’une obligation donnée.
- 
##### Sélection des actions et des titres de créances

Une fois l’étape précédente achevée, le Gestionnaire de portefeuille se concentre sur la sélection de titres au sein des composantes Actions et Créances du Compartiment.
Le Gestionnaire de portefeuille sélectionnera des titres en tenant compte de leur potentiel de revenu et du risque ajouté au portefeuille. Une analyse sera effectuée sur la base des fondamentaux comme la valeur, la
rentabilité, la qualité de la croissance et l’endettement de l’entreprise.
La composante Actions comprend d’autres actifs à risque comme des investissements indirects dans l’immobilier (« REIT »), les matières premières (« ETF ») et l’infrastructure (« ETF »), comme décrit ci-dessus dans la politique d’investissement.
- 
##### Sélection des IFD

Le Gestionnaire de portefeuille utilise les IFD décrits à la section « Utilisation des instruments financiers dérivés » pour répondre à trois des objectifs de sa stratégie
d’investissement. Le Gestionnaire de portefeuille
sélectionne les différents IFD en fonction de la finalité
souhaitée (comme indiqué ci-dessous), des coûts impliqués et de l’avantage offert par un IFD en particulier.
- Accroître le revenuPour accroître le revenu du Compartiment, leGestionnaire de portefeuille peut recevoir des primes ou revenus sur contrats d’option en vendant des options d’achat couvertes. La vente d’options d’achatcouvertes peut limiter le potentiel de hausse du rendement d’un titre en cas de hausse du marché si l’acheteur de l’option d’achat couverte choisit de l’exercer. La vente d’options d’achat couvertes peut réduire la volatilité quotidienne de la participationsous-jacente et limiter la baisse de la participation sous-jacente dans un marché en déclin.
- Modifier l’allocation aux composantes Actions et CréancesLe Gestionnaire de portefeuille utilisera les IFDcomme une solution rentable pour modifier l’allocation aux composantes Actions et Créances en fonction de ses résultats d’analyse. Par exemple, le Gestionnaire de portefeuille peut acheter ou vendredes contrats à terme standardisés, comme décritdans la section « Utilisation des instruments financiers dérivés », en vue d’augmenter ou de réduire rapidement et à moindres frais l’allocation à un titre ou un secteur.
- CouvertureLe Gestionnaire de portefeuille utilisera des IFD telsque des contrats à terme standardisés sur actions, des swaps de taux d’intérêt et des CDS pour couvrir les risques liés au crédit, au taux d’intérêt et aux actions inhérents aux titres individuels dans lesquelsle Compartiment investit, en vue de préserver les actifs pendant les périodes d’effondrement des marchés. Le Gestionnaire de portefeuille utilisera desIFD tels que des contrats de change à terme pour couvrir l’exposition aux devises du Compartiment.


##### Positions longues et courtes
Le Compartiment peut utiliser des positions longues et
des positions courtes synthétiques pour atteindre son objectif d’investissement. Le Gestionnaire de portefeuille peut chercher à construire des positions longues dans n’importe quelle classe d’actifs décrite dans le Supplément en vue de générer un revenu. Il peut
également chercher à prendre des positions courtes synthétiques sur des actions, des obligations et des swaps de défaut de crédit (« CDS ») (sur valeur individuelle et indice) pour générer un revenu
supplémentaire, couvrir les actions, les obligations ou le risque de crédit et/ou pour réduire l’exposition de marché lors des périodes de baisse significative des prix du
marché.
La position longue brute directe et indirecte des investissements détenus conformément à l’objectif d’investissement devrait représenter un pourcentage situé entre 50 % et 200 % de la Valeur liquidative du
Compartiment et la position courte brute devrait représenter un pourcentage situé entre 0 % et 150 %.
L’encours des positions longues pourrait devoir être augmenté pour répondre à l’objectif d’investissement du Compartiment, si la volatilité du marché est
exceptionnellement faible, par exemple. Les positions courtes, autres que les options d’achat couvertes sont destinées à contrebalancer ou à couvrir les positions longues. Il ne s’agit pas de positions courtes pures et simples. Leur objectif est plutôt de contrôler et de
réduire le risque découlant des positions longues. Par exemple, les positions courtes dans les actions, les
obligations ou les CDS seront utilisées pour couvrir l’exposition aux actions, aux obligations ou au crédit. Les options d’achat couvertes seront vendues en vue d’améliorer le revenu du Compartiment.
Les positions longues et courtes utilisées pour les catégories d’actions couvertes contre le risque de change n’ont pas été incluses dans les informations concernant les positions longues et courtes fournies dans ce
supplément.

##### Gestion de la liquidité et des garanties
Le Compartiment peut également détenir des niveaux élevés d’actifs liquides et quasi liquides dans certaines circonstances. Il se peut, par exemple, que les conditions du marché requièrent l’adoption d’une stratégie d’investissement défensive, mais le Compartiment peut
également détenir du numéraire en dépôt en attente de réinvestissement, pour financer le rachat d’actions ou le paiement de frais ou afin de fournir des garanties pour les contrats d’IFD.
Les actifs liquides ou quasi liquides peuvent comprendre n’importe quels Titres de créance et apparentés, comme décrit ci-dessus, autres que les CoCo, les MBS et les
ABS, lorsque ceux-ci disposent de caractéristiques semblables à celles d’un actif liquide ou quasi liquide et à des dépôts bancaires. Il est prévu que les émetteurs
et/ou garants de tous ces titres de créance et apparentés
et de ces dépôts bancaires auront une notation de crédit, au moment de l’achat, au moins égale à A1/P1 (ou son équivalent) publiée par une agence de notation reconnue telle que Standard & Poor’s, ou seront jugés d’une qualité équivalente par le Gestionnaire de portefeuille.

##### Expositions aux produits dérivés
À des fins d’investissement, de couverture et de GEP, le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, comme décrit plus en
détail à la Section intitulée « Utilisation des Instruments financiers dérivés » :
| Contrats à terme standar- disés | Contrats à terme standardisés sur indices boursiers Contrats à terme standardisés sur taux d’intérêt (y compris à court terme) Contrats à terme standardisés sur obligations Contrats à terme standardisés sur indices de volatilité Contrats à terme standardisés sur le marché monétaire |
| --- | --- |
| Options | Options sur actions (valeur individuelle, indice, secteur, panier personnalisé, y compris options d’achat couvertes) Options sur indices Options sur contrats à terme standardisés de taux d’intérêt Options sur obligations Options sur contrats à terme standardisés d’obligations Options sur ETF Options sur contrats à terme standardisés d’actions |
| Contrats de change à terme | Contrats à terme non livrables Contrats à terme livrables |
| Swaps | Swaps de défaut de crédit (sur valeur individuelle, indice) Swaps de taux d’intérêt Swaps de rendement total (y compris valeur individuelle, crédit et indice) |
| Titres à IFD intégrés | Obligations convertibles (y compris les obligations convertibles contingentes) Titres adossés à des actifs (ABS) et Titres adossés à des créances hypothécaires (MBS) |
| Titres qui peuvent in- tégrer l’effet de levier | Obligations convertibles (y compris les obligations convertibles contingentes) Droits de souscription d’actions |


##### Indices financiers
Le Compartiment peut être exposé à divers indices financiers par le biais d’IFD à des fins d’investissement et de gestion efficace de portefeuille (GEP).
Il n’est pas possible de dresser la liste exhaustive des indices financiers auxquels le portefeuille peut être
exposé, car ils sont très nombreux et évolueront au fil du temps. En outre, ils peuvent inclure des indices de matières premières comme le S&P GSCI Index et le Bloomberg Commodity Index, qui permettent au
Compartiment de s’exposer à un certain nombre de secteurs de matières premières comme l’énergie, les métaux industriels, les produits agricoles, les produits du
bétail et les métaux précieux.
Les détails des indices financiers utilisés par le Compartiment (y compris les marchés qu’ils représentent) seront communiqués sur demande aux Actionnaires par
le Gestionnaire de portefeuille du Compartiment et seront indiqués dans les comptes semestriels et annuels de la Société. Tous les indices de ce type utilisés seront approuvés par la Banque centrale ou respecteront les exigences imposées par la Banque centrale. Les indices
financiers auxquels le Compartiment est susceptible d’être exposé seront rééquilibrés régulièrement.
Cependant, comme le Compartiment ne vise pas à
reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages, les coûts
associés ou la pondération des actions de l’indice
financier qui ne respecterait pas les restrictions d’investissement fixées.

#### Utilisation d’instruments financiers dérivés
Comme expliqué ci-dessus dans les sections relatives à la stratégie d’investissement et à la politique d’investissement, le Compartiment peut effectuer des opérations portant sur des IFD, comme décrit ci-dessous,
à des fins d’investissement et de GEP ou de couverture. Le Gestionnaire de portefeuille s’attend généralement à utiliser les IFD à des fins d’investissement lorsqu’il estime que l’utilisation d’un IFD constitue un moyen plus rentable de s’exposer à un actif particulier que d’investir directement dans l’actif sous-jacent. Pour obtenir davantage d’informations sur l’utilisation des IFD à des
fins de GEP, veuillez consulter la rubrique « Gestion
efficace de portefeuille ».
Le niveau de levier prévu pour le Compartiment découlant de l’utilisation d’IFD est exposé à la rubrique
« Restrictions en matière d’investissement et d’emprunt –
Exposition globale et effet de levier » ci-après.

##### Contrats à terme standardisés
Les contrats à terme standardisés sont des contrats d’achat ou de vente d’une quantité standard d’un actif spécifique (ou, dans certains cas, de réception ou de paiement d’espèces basés sur la performance d’un actif,
d’un instrument ou d’un indice sous-jacent) à une date
future prédéterminée et à un prix convenu par une
opération effectuée en Bourse. Les contrats à terme standardisés permettent aux investisseurs de couvrir le
risque de marché ou de s’engager sur le marché sous-
jacent. Ces contrats étant évalués quotidiennement à la
valeur de marché, les investisseurs peuvent, en liquidant leur position, sortir de leur obligation d’acheter ou de vendre les actifs sous-jacents avant la date de livraison
du contrat. Le recours fréquent aux contrats à terme standardisés pour appliquer une stratégie particulière, au
lieu d’utiliser le titre ou l’indice sous-jacent ou lié, le
secteur indiciel ou le panier de titres de créance sous-
jacent ou associé, permet de réduire les coûts de transaction.
Le Compartiment peut investir dans les types de contrats à terme standardisés suivants :
- Contrats à terme standardisés sur indices boursiers : le Gestionnaire de portefeuille peut conclure descontrats à terme standardisés sur indices boursiers pour se positionner sur l’évolution future de certains marchés boursiers.
- Contrats à terme standardisés sur taux d’intérêt (ycompris à court terme) : les contrats à terme standardisés sur taux d’intérêt (y compris à courtterme) permettent d’exprimer le point de vue du Gestionnaire de portefeuille selon lequel la courbe des taux va évoluer d’une façon particulière. Le Gestionnaire de portefeuille peut utiliser cesinstruments pour atténuer l’exposition aux taux d’intérêt des obligations à taux fixe.
- Contrats à terme standardisés sur obligations : les contrats à terme standardisés sur obligations permettent au Gestionnaire de portefeuille d’exprimerdes opinions positives ou négatives quant à l’orientation des cours des obligations et de réduire l’exposition aux taux d’intérêt des obligations à taux fixe.
- Contrats à terme standardisés sur indices devolatilité : le Compartiment peut adopter des positions longues ou courtes sur des contrats à terme standardisés sur indices de volatilité pour exprimer des opinions quant à la volatilité attendue des marchés.
- Contrats à terme standardisés sur le marchémonétaire : Les contrats à terme standardisés sur le marché monétaire permettent au Compartiment defournir une alternative rentable et efficace à l’obligation d’effectuer un dépôt auprès d’un établissement de crédit spécifique. Toutefois, commela valeur du contrat à terme variera en fonction du niveau du marché, de tels investissements exposeront le Compartiment au risque deperformances négatives si les taux d’intérêt augmentent après l’achat du contrat.


##### Options
Il existe deux formes d’options, les options de vente et les options d’achat. Les options de vente sont des contrats vendus contre une prime qui donne à une partie (l’acheteur) le droit, mais non l’obligation, de vendre à l’autre partie au contrat (le vendeur) une quantité
spécifique d’un produit ou d’un instrument financier particulier à un prix convenu. Les options d’achat sont
des contrats similaires vendus contre une prime qui donne à l’acheteur le droit, mais non l’obligation, d’acheter le sous-jacent au vendeur de l’option à un prix convenu. Les options peuvent également être réglées en
numéraire. Le Compartiment peut être vendeur ou acheteur d’options de vente et d’achat. Le Compartiment peut acheter ou vendre ces instruments individuellement
ou en associant des types différents. Par exemple, l’acquisition d’une option d’achat permet au Compartiment de bénéficier des hausses de performance
tout en limitant son exposition globale à la prime payée initialement par le Compartiment.
Le Compartiment peut investir dans les types d’options suivants :
- Options sur actions (valeur individuelle, indice,secteur, panier personnalisé) : les options sur actionspeuvent servir à exprimer des opinions quant à l’orientation prise par une valeur individuelle, un indice boursier ou un panier personnalisé d’actions.
- Options d’achat couvertes : la vente d’options d’achat couvertes est une stratégie par laquelle le Gestionnaire de portefeuille vend une option d’achat tout en détenant un nombre équivalent d’actions de l’actif sous-jacent afin de générer un revenusupplémentaire et/ou d’apporter un degré de protection limité contre une baisse de la valeur des actifs sous-jacents.
- Options sur indices : le Compartiment peut conclure des contrats d’option afin de se procurer une exposition à certains indices, par exemple en achetant une option d’achat sur l’indice Goldman Sachs Commodity Index. Cela permettrait auCompartiment de bénéficier des hausses de performance de l’indice tout en limitant son exposition globale à la prime initialement payée.
- Options sur contrats à terme standardisés de tauxd’intérêt : les options sur contrats à terme standardisés sur taux d’intérêt peuvent être utilisées pour exprimer des opinions similaires à cellesdécrites pour les contrats à terme standardisés sur taux d’intérêt.
- Options sur obligations : les options sur obligations peuvent être utilisées pour prendre des positions similaires à celles prises en achetant ou vendant les obligations sous-jacentes ou, sinon, pour exprimerl’opinion du Gestionnaire de portefeuille quant à lavolatilité des obligations.
- Options sur contrats à terme standardisésd’obligations : les options sur contrats à terme standardisés d’obligations peuvent être utilisées pour exprimer des opinions similaires à celles décritespour les contrats à terme standardisés sur obligations ou pour exprimer le point de vue du Gestionnaire de portefeuille concernant la volatilité des contrats à terme standardisés sur obligations.
- Options sur ETF : les options sur ETF permettent au Compartiment de bénéficier des performances del’ETF, tout en limitant l’exposition globale au risque baissier, à la prime payée pour l’option. Si le Compartiment se positionne positivement sur un ETF par l’utilisation d’une option d’achat, l’exposition au risque baissier sera limitée à la prime de l’option concernée, et inversement pour un positionnement inverse par l’intermédiaire d’une option de vente.
- Options sur contrats à terme standardisés d’actions : les options sur contrats à terme standardisés d’actions permettent au Compartiment d’augmenter ou de réduire l’exposition à un marché, à une classe d’actifs ou à un secteur sans avoir à acheter ou vendre directement les titres sous-jacents.


##### Contrats de change à terme (y compris les contrats à terme non livrables)
Le Compartiment peut également conclure des contrats
de change à terme. Un contrat à terme verrouille le prix d’achat ou de vente d’un indice ou d’un actif à une date future. Dans les contrats de change, les titulaires des contrats sont tenus d’acheter ou de vendre la devise à un prix déterminé, à une quantité déterminée et à une date future déterminée. Le règlement d’un contrat de change à terme peut se faire en numéraire (non livrable) ou
moyennant la livraison des devises, pour autant que cette approche ait été préalablement précisée.
Les contrats de change à terme peuvent être utilisés pour couvrir, à la discrétion du Gestionnaire de portefeuille, toute exposition aux devises par rapport à la devise de référence.

##### Swaps
Un swap est un contrat négocié entre deux parties pour échanger le rendement d’un taux d’intérêt de référence, tel qu’un taux du marché monétaire fixe ou variable, contre le rendement d’une action, d’un panier d’actions, d’un indice ou d’un panier d’indices représentant un
même secteur. Ils peuvent être utilisés pour exprimer des
opinions positives et négatives sur des actions (en créant une position courte synthétique).
Le Compartiment peut investir dans les types de swaps suivants :
- Swaps de défaut de crédit : un swap de défaut de crédit (« CDS ») est un contrat de swap financier qui transfère un risque de crédit sur une entité spécifique (« de référence ») ou un portefeuilled’entités de référence (« indice » ou « panier » de CDS) entre les participants au marché. L’acheteur d’un CDS, par exemple le Compartiment, effectue des paiements périodiques ; en contrepartie, il reçoit uneindemnité compensatoire si un événement de crédit est réputé avoir eu lieu.
- Swaps de taux d’intérêt : un swap de taux d’intérêt est un contrat négocié entre deux parties consistant à échanger les flux de trésorerie générés par LIBORet/ou d’autres taux d’intérêt officiellement reconnussimilaires calculés sur un montant notionnel, à desdates spécifiées pendant la durée du swap. L’utilisation de swaps de taux d’intérêt permet de modifier la sensibilité aux taux d’intérêt duCompartiment plus rapidement et de façon moins coûteuse qu’en ayant recours aux marchés monétaires physiques et de manière plus précise que par le biais de marchés d’IFD négociés en Bourse. Ils peuvent également être utilisés pour se positionnersur l’évolution future des mouvements de taux d’intérêt.
- Swaps de rendement total (y compris sur valeurindividuelle et sur crédit) : un swap de rendement total (TRS) est un type de contrat sur IFD négociés degré à gré qui permet au Compartiment d’obtenir une exposition à un actif ou à une classe d’actifs sur une base synthétique. Le Compartiment reçoit le rendement total d’un actif ou d’une classe d’actifs deréférence (p. ex., un titre/indice à revenu fixe, unindice de crédit ou un indice boursier) pendant une période déterminée en échange d’un coût de financement. Si le rendement de l’investissement est supérieur au coût de financement du TRS, leCompartiment devrait percevoir un rendement amélioré supérieur à celui que l’actif sous-jacent pourrait générer à lui seul.
- Le Compartiment ne conclura pour son compte des swaps de rendement total qu’avec les établissements de crédit décrits sous le titre « Restrictions en matière d’investissement et d’emprunt » du Prospectus et possédant une notation de crédit aumoins égale à A-2 (octroyée par une agence de notation reconnue, par exemple Standard & Poor’s), ou inférieure si l’établissement de crédit dépose une marge initiale. Sous réserve de la conformité à cesconditions, le Gestionnaire de portefeuille a toute latitude quant à la désignation des contrepartiesavec lesquelles il conclut des swaps de rendement total, dans le respect de l’objectif et des politiques d’investissement du Compartiment. Il n’est pas possible d’établir dans le présent Supplément uneliste exhaustive des contreparties, dans la mesure où elles n’ont pas été sélectionnées à la date de publication du présent Supplément et peuvent changer à tout moment. Les risques liés à l’utilisation des TRS sont présentés en détail sous la section« Facteurs de risque » du Prospectus.

Le Compartiment peut investir dans les types de valeurs mobilières suivantes qui peuvent incorporer des IFD et/ ou un effet de levier :
- Obligations convertibles : Le Compartiment peut acheter des obligations convertibles au lieu d’actions ordinaires d’une société afin de générer un revenu supplémentaire. Lorsque le rendement des actions ordinaires d’une société n’est pas suffisant, et que lerendement et la liquidité des obligations convertiblesde cette société sont suffisamment élevés, le Compartiment peut choisir d’avoir recours cet instrument. Les obligations convertibles confèrent au propriétaire l’option de les convertir en actions ordinaires à des conditions spécifiques.
- Obligations convertibles contingentes (CoCo) : Ce type de titres offre un rendement supérieur à celui des obligations conventionnelles. Les CoCo sont converties en actions uniquement lorsque le capitalde l’émetteur tombe en deçà d’un seuil prédéfini.

Cette conversion obligatoire a généralement lieu
lorsque les conditions économiques sont défavorables et engendrent des pertes significatives pour les investisseurs. Veuillez consulter la section du Prospectus intitulée « Risque lié aux titres convertibles conditionnels (« CoCo ») pour plus de détails sur les risques associés aux CoCo.
- Droits de souscription d’actions : les droits de souscription d’actions accordent au titulaire le droit, mais non l’obligation, d’acheter un nombre prédéterminé d’actions à un prix prédéterminé.
- Titres adossés à des actifs (ABS) et Titres adossés àdes créances hypothécaires (MBS) :
- Le Compartiment peut également acheter des ABS et des MBS qui intègrent des produits dérivés. Les ABS et les MBS peuvent être utilisés pour fournir au Compartiment la possibilité de construire uneexposition économique aux groupes d’actifs sous-jacents des ABS ou des MBS et peuvent générer desrevenus pour le Compartiment.


#### Émission d’Actions
Les Actions de chaque catégorie d’actions non lancée disponible seront proposées durant une période d’offre initiale, commençant à 9 h, le 25 janvier 2021 et s’achevant à 17 h le 23 juillet 2021 (la « Période d’offre initiale »), à un prix d’offre initial par Action de 1 €,
1 USD, 1 £, 1 CHF, 10 DKK, 10 SEK, 10 NOK ou 1 CAD selon
la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente de la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Rachat d’Actions
Les Actions de chaque catégorie pourront être rachetées, à la discrétion de l’Actionnaire concerné, tout Jour d’évaluation à l’Heure d’évaluation. Le Prix de rachat est égal à la Valeur liquidative par action de cette catégorie,
calculée à l’Heure d’évaluation, diminuée de la
commission de rachat applicable.
Toutes les demandes de rachat d’actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Restrictions en matière d’investissement et d’emprunt
Les restrictions en matière d’investissement et d’emprunt du Compartiment sont définies sous la section du Prospectus intitulée « La Société – Restrictions en matière d’investissement et d’emprunt ».

#### Exposition globale et effet de levier
Le Compartiment peut exercer un effet de levier pour
générer une exposition notionnelle supérieure à la Valeur liquidative du Compartiment lorsqu’elle est calculée avec la méthodologie de la Valeur à risque (« VaR », Value at
Risk) conformément aux exigences de la Banque centrale.
La VaR est une méthodologie avancée de la mesure du risque, utilisée pour permettre l’endettement du Compartiment et la volatilité des marchés. Cette mesure
vise à prévoir, à partir de données historiques, l’importance probable des pertes susceptibles d’être générées sur une période donnée. La VaR du
Compartiment sera calculée quotidiennement avec un niveau de confiance unilatéral de 99 %, une période de
détention de 5 jours et une période d’observation historique d’au moins 1 an. Par exemple, si la VaR absolue d’un Compartiment calculée correspond à 2 % de la Valeur liquidative, sur la base d’un intervalle de
confiance de 99 % pour une période de détention de
5 Jours ouvrables, cela signifie que statistiquement, celui-ci ne devrait pas subir une perte de plus de 2 % de sa Valeur liquidative pour une période de 5 jours, 99 %
du temps. Il est important que la VaR du Compartiment varie quotidiennement et qu’en tant que tel, le Compartiment essaie d’appliquer une limite de VaR qu’il ne dépassera pas.
Cette période de détention et cette période d’observation historique peuvent changer et, dans ce cas, la limite absolue sera modifiée en conséquence, à condition
toujours que la modification soit conforme aux exigences de la Banque centrale et que le Processus de gestion du risque soit mis à jour et préalablement agréé. Il convient de noter que les indications qui précèdent sont conformes aux limites de VaR actuelles exigées par la Banque centrale.
Conformément aux exigences de la Banque centrale, le Compartiment applique une limite de VaR égale à10 % de sa VL (une limite de VaR absolue).
Les méthodes de VaR reposent sur plusieurs hypothèses concernant la prévision des marchés d’investissement et la capacité de déduire le comportement futur des prix de
marché à partir des mouvements historiques. Si ces hypothèses présentent un niveau d’inexactitude important, l’encours et la fréquence des pertes effectivement subies par le portefeuille peuvent être
largement supérieurs à ceux prévus par le modèle de VaR (et même une faible inexactitude des modèles de
prévision utilisés peut produire d’importantes déviations
des prévisions produites). La VaR permet en fait de comparer les risques de différentes classes d’actifs et constitue, pour un gestionnaire de portefeuille, un indicateur du risque d’investissement. Si elle est utilisée ainsi, en tenant compte des limites des méthodes VaR et
du modèle particulier choisi, elle peut signaler une augmentation du niveau de risque général d’un portefeuille et déclencher une action de correction par le
Gestionnaire de portefeuille. La mesure et la surveillance de toutes les expositions relatives à l’utilisation d’IFD seront effectuées au moins quotidiennement.
L’Autorité européenne des marchés financiers (AEMF) a publié une série de directives sur la Mesure du risque et le calcul de l’exposition globale et le risque de contrepartie pour les OPCVM. Ces directives fixent des
méthodologies obligatoires à appliquer dans le domaine de la mesure du risque et du calcul de l’exposition globale et le risque de contrepartie devant être utilisées
par tous les fonds OPCVM. En particulier, en ce qui concerne le calcul de l’exposition globale, l’AEMF fixe les méthodologies précises devant être suivies et les
communications devant être faites par un OPCVM utilisant l’approche VaR. L’une des exigences de l’AEMF consiste à calculer l’endettement en faisant la somme des notionnels des IFD utilisés.
Conformément aux exigences de l’AEMF et de la Banque centrale, l’effet de levier est calculé en additionnant la valeur notionnelle de toutes les positions longues et la
valeur notionnelle positive de toutes les positions IFD courtes synthétiques sur les dérivés du Compartiment. Le
calcul de l’effet de levier inclura par conséquent toutes
les positions détenues à des fins de réduction du risque
ou de couverture, par exemple les contrats de change à terme utilisés pour couvrir le risque de change au sein du Compartiment, ainsi que celles utilisées à des fins
d’investissement. De plus, lorsque des positions
existantes sont ajustées pour tenir compte des
mouvements de marché ou des souscriptions et rachats au sein du Compartiment, ceci peut être réalisé en mettant en place des positions supplémentaires couvrant
les IFD existants, ce qui a pour effet d’augmenter la
valeur notionnelle totale des IFD en cours lorsque ces
ajustements sont faits pour compenser des positions existantes.
L’effet de levier du Compartiment découlant de l’utilisation d’IFD devrait se situer entre 0 % et 600 % de sa Valeur liquidative, mais il peut parfois dépasser cette
fourchette cible. La somme des notionnels est calculée en ajoutant la valeur notionnelle totale des positions longues ainsi que la valeur absolue des positions courtes
sur IFD du Compartiment, comme l’exige la
Réglementation OPCVM. La largeur de cette fourchette de
levier permet de prendre en compte le fait que le Compartiment offre des catégories d’actions en devises
couvertes pour lesquelles l’exposition de change est couverte (par le biais d’IFD, ce qui peut entraîner un effet de levier plus élevé [sur la base de la somme des notionnels]). Cette mesure de l’effet de levier est élevée,
car elle ne prend pas en compte les éventuels accords de
compensation ou de couverture mis en place par le Compartiment, même s’ils sont utilisés à des fins de réduction du risque. En particulier, il est prévu qu’une partie significative de cette fourchette située entre 0 %
et 600 % sera constituée par la valeur notionnelle des
IFD utilisés par le Compartiment en rapport avec des catégories d’actions couvertes contre le risque de change.

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP. Les techniques et IFD pouvant être employés par le Compartiment en vue d’optimiser la gestion du portefeuille sont présentés ci-dessus à la
section « Utilisation des instruments financiers dérivés » et décrits ci-dessous à la rubrique « La Société – Gestion efficace de portefeuille » du Prospectus. Le
Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM 2015 de la Banque centrale.
Les accords de mise en pension sont des opérations en vertu desquelles une partie vend un titre à l’autre partie, en s’obligeant simultanément à racheter le titre à une
date future fixée et à un prix convenu, reflétant un taux d’intérêt du marché non corrélé au taux de coupon des titres. Un accord de prise en pension est une opération
en vertu de laquelle un Compartiment achète des titres auprès d’une contrepartie et s’engage simultanément à revendre les titres à ladite contrepartie à une date et un
prix mutuellement convenus. Par exemple, le
Gestionnaire de portefeuille peut conclure des accords de mise en pension pour améliorer les revenus générés par le Compartiment, ou pour gérer les expositions au risque
de taux d’intérêt des obligations à taux fixe plus précisément que par l’utilisation de contrats à terme standardisés sur taux d’intérêt.
Sous réserve des conditions et limites posées par la Réglementation OPCVM 2015 de la Banque centrale, le Compartiment peut recourir à des accords de prêt de titres afin de générer un revenu additionnel. Un accord de prêt de titres est un accord en vertu duquel la propriété des titres « prêtés » est transférée par un « prêteur » à
un « emprunteur », ce dernier s’obligeant à livrer des
« titres équivalents » au prêteur à une date ultérieure.
Dans cette optique de GEP, la conclusion d’opérations sur les actifs du Compartiment vise l’un des objectifs suivants :
- une réduction du risque ;
- une réduction du coût ; ou
- la création d’un capital ou un revenu supplémentaire pour le Compartiment, avec un niveau de risque (parrapport au rendement attendu) conforme au profil de risque du Compartiment et aux exigences dediversification du risque d’après la RéglementationOPCVM 2015 de la Banque centrale et la Note d’orientation de la Banque centrale sur les « Actifs éligibles des OPCVM » et telles que présentées sousla rubrique « La Société – Restrictions en matière d’investissement et d’emprunt » du Prospectus.

Le Gestionnaire de portefeuille veillera à ce que ces opérations de GEP soient toujours conclues à des conditions économiques appropriées et réalisées de manière rentable.
Des coûts de transaction peuvent être engagés à l’égard de techniques de GEP au titre du Compartiment. Tous les revenus générés par les techniques de GEP, net de coûts
opérationnels directs et indirects, seront restitués au Compartiment. Les coûts/commissions directs et indirects générés par les techniques de GEP ne comprennent pas de revenu caché et seront payés aux entités figurant dans le rapport annuel de la Société, lequel indiquera si les entités sont liées au Gestionnaire ou au Dépositaire.
Les investisseurs sont invités à consulter les sections du Prospectus intitulées « Facteurs de risque – Risque de contrepartie », « Facteurs de risque – Risque lié aux produits techniques et instruments dérivés » et « Conflits d’intérêts » pour obtenir plus d’informations sur les
risques liés à la GEP.
Le chapitre « Politique de gestion des garanties » du Prospectus présente des informations relatives à la politique de gestion des garanties du Compartiment.

##### Processus de gestion du risque
La Société mettra en œuvre un Processus de gestion du risque qui lui permet de mesurer, de surveiller et de gérer avec précision les risques associés aux positions sur
instruments financiers dérivés et dont les modalités ont été soumises à la Banque centrale. La Société n’utilisera aucun IFD qui n’a pas été inclus dans le Processus de gestion du risque avant que ces instruments ne soient soumis dans le cadre d’une procédure révisée de gestion du risque à la Banque centrale, qui l’aura préalablement autorisée.
La Société fournira aux Actionnaires, sur simple demande de leur part, des informations supplémentaires sur les méthodes de gestion du risque employées par la Société, y compris les limites quantitatives qui sont appliquées et
tous développements récents des caractéristiques des principales catégories d’investissements, en termes de risque et de rendement.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des opérations de
financement sur titres (« OFT »), soit des accords de prêt
de titres et des accords de mise/prise en pension, comme décrit sous la rubrique « Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et aux OFT correspondent respectivement à 100 % et 100 %
de sa Valeur liquidative. Il n’est toutefois pas prévu que
ces expositions respectives aux TRS et aux OFT excèdent 20 % et 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet de TRS ou OFT seront les actifs dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux sections du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en pension et accords de prêt de titres », « Gestion efficace de portefeuille » et « Facteurs de risques ».

#### Couverture des catégories d’actions
Ce Compartiment propose des catégories d’actions couvertes. Ces catégories d’actions sont indiquées par le suffixe « (couverte) ». Veuillez consulter la section intitulée « Couverture des catégories d’actions » dans le Prospectus pour plus d’informations sur le fonctionnement et l’impact des catégories d’actions couvertes.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés trimestriellement, les
31 décembre, 31 mars, 30 juin et 30 septembre. En ce qui concerne les détenteurs d’Actions de distribution, les dividendes déclarés seront normalement versés au plus
tard le 11 février, le 11 mai, le 11 août et le 11 novembre, respectivement. De plus amples informations sont
disponibles à la section « La Société – Politique de
distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à la rubrique « Gestion et administration de la
Société – Commissions et frais » du Prospectus. La commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.
Les commissions et frais liés à la constitution et à l’organisation du Compartiment, y compris les honoraires des conseillers professionnels du Compartiment seront
pris en charge par le Compartiment. Ces commissions et frais sont estimés à un maximum de 65 000 € et seront pris en charge par le Compartiment et amortis sur une
période de 3 ans à partir de son lancement.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Global Infrastructure Income Fund

### SUPPLÉMENT 42, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins de couverture et de gestion efficace de portefeuille. Le Compartiment n’utilisera pas d’IFD à des fins d’investissement. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section« Exposition globale et effet de levier » ci-après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Il est proposé que les commissions de gestion et autres commissions et frais du Compartiment soient imputés au capital de ce dernier en vue de maximiser les distributions. Veuillez consulter la section « Commissions et frais » dans le Prospectus pour plus d’informations.
- La Valeur liquidative du Compartiment peut faire l’objet d’une volatilité élevée en raison de sa politique d’investissement.
- L’investissement dans le Compartiment ne devrait pas constituer une proportion conséquente d’un portefeuille de placement et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Newton Investment Management North America LLC

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée occasionnellement par les Administrateurs, à condition
que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale
et le niveau des commissions et frais prélevés. Les catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR A (Cap.) | EUR | 5 000 | 5 % | 1,85 % | 0 % |
| EUR A (Dist.) | EUR | 5 000 | 5 % | 1,85 % | 0 % |
| USD A (Cap.) | USD | 5 000 | 5 % | 1,85 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 1,85 % | 0 % |
| CHF A (Cap.) | CHF | 5 000 | 5 % | 1,85 % | 0 % |
| CHF A (Dist.) | CHF | 5 000 | 5 % | 1,85 % | 0 % |
| EUR H (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,85 % | 0 % |
| EUR H (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,85 % | 0 % |

| Actions « B » et Actions « J (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR B (Cap.) | EUR | 10 000 | 5 % | 1,40 % | 0 % |
| EUR B (Dist.) | EUR | 10 000 | 5 % | 1,40 % | 0 % |
| USD B (Cap.) | USD | 10 000 | 5 % | 1,40 % | 0 % |
| USD B (Dist.) | USD | 10 000 | 5 % | 1,40 % | 0 % |
| USD B (Dist.) (M) | USD | 10 000 | 5 % | 1,40 % | 0 % |
| SGD B (Cap.) | SGD | 10 000 | 5 % | 1,40 % | 0 % |
| SGD B (Dist.) | SGD | 10 000 | 5 % | 1,40 % | 0 % |
| SGD B (Dist.) (M) | SGD | 10 000 | 5 % | 1,40 % | 0 % |
| EUR J (Cap.) (couverte) | EUR | 10 000 | 5 % | 1,40 % | 0 % |
| EUR J (Dist.) (couverte) | EUR | 10 000 | 5 % | 1,40 % | 0 % |
| SGD J (Cap.) (couverte) | SGD | 10 000 | 5 % | 1,40 % | 0 % |
| SGD J (Dist.) (couverte) | SGD | 10 000 | 5 % | 1,40 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 0,90 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 0,90 % | 0 % |
| EUR G (Cap.) | EUR | 5 000 | 5 % | 0,90 % | 0 % |
| EUR G (Dist.) | EUR | 5 000 | 5 % | 0,90 % | 0 % |
| CHF G (Cap.) | CHF | 5 000 | 5 % | 0,90 % | 0 % |
| CHF G (Dist.) | CHF | 5 000 | 5 % | 0,90 % | 0 % |
| EUR G (Dist.) (couverte) | EUR | 5 000 | 5 % | 0,90 % | 0 % |
| EUR G (Cap.) (couverte) | EUR | 5 000 | 5 % | 0,90 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR C (Cap.) | EUR | 5 000 000 | 5 % | 0,90 % | 0 % |
| EUR C (Dist.) | EUR | 5 000 000 | 5 % | 0,90 % | 0 % |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 0,90 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 0,90 % | 0 % |
| SGD C (Cap.) | SGD | 5 000 000 | 5 % | 0,90 % | 0 % |
| SGD C (Dist.) | SGD | 5 000 000 | 5 % | 0,90 % | 0 % |
| EUR I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 0,90 % | 0 % |
| EUR I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 0,90 % | 0 % |
| SGD I (Dist.) (couverte) | SGD | 5 000 000 | 5 % | 0,90 % | 0 % |
| SGD I (Cap.) (couverte) | SGD | 5 000 000 | 5 % | 0,90 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,68 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,68 % | 0 % |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,68 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,68 % | 0 % |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,68 % | 0 % |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,68 % | 0 % |
| CHF W (Cap.) | CHF | 15 000 000 | 5 % | 0,68 % | 0 % |
| CHF W (Dist.) | CHF | 15 000 000 | 5 % | 0,68 % | 0 % |
| SGD W (Cap.) | SGD | 15 000 000 | 5 % | 0,68 % | 0 % |
| SGD W (Dist.) | SGD | 15 000 000 | 5 % | 0,68 % | 0 % |
| EUR W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,68 % | 0 % |
| EUR W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,68 % | 0 % |
| SGD W (Cap.) (couverte) | SGD | 15 000 000 | 5 % | 0,68 % | 0 % |
| SGD W (Dist.) (couverte) | SGD | 15 000 000 | 5 % | 0,68 % | 0 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD E (Cap.) | USD | Comme convenu | 5 % | 0,40 % | 0 % |
| USD E (Dist.) | USD | Comme convenu | 5 % | 0,40 % | 0 % |
| EUR E (Cap.) | EUR | Comme convenu | 5 % | 0,40 % | 0 % |
| EUR E (Dist.) | EUR | Comme convenu | 5 % | 0,40 % | 0 % |
| CHF E (Cap.) | CHF | Comme convenu | 5 % | 0,40 % | 0 % |
| CHF E (Dist.) | CHF | Comme convenu | 5 % | 0,40 % | 0 % |
| SGD E (Cap.) | SGD | Comme convenu | 5 % | 0,40 % | 0 % |
| SGD E (Dist.) | SGD | Comme convenu | 5 % | 0,40 % | 0 % |
| EUR E (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,40 % | 0 % |
| EUR E (Dist.) (couverte) | EUR | Comme convenu | 5 % | 0,40 % | 0 % |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,40 % | 0 % |
| Sterling E (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,40 % | 0 % |
| SGD E (Cap.) (couverte) | SGD | Comme convenu | 5 % | 0,40 % | 0 % |
| SGD E (Dist.) (couverte) | SGD | Comme convenu | 5 % | 0,40 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| EUR X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| EUR X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| EUR X (Cap.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| EUR X (Dist.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à maximiser le rendement total tiré des revenus et de l’appréciation du capital en acquérant une exposition à des sociétés situées dans le monde
entier qui participent à des activités liées aux infrastructures et à des activités connexes.

##### Politique d’investissement
Le Compartiment investit essentiellement (c’est-à-dire au moins deux tiers de sa Valeur liquidative) dans des actions et titres apparentés (actions ordinaires et
privilégiées, certificats représentatifs de titres américains et certificats représentatifs de titres internationaux [collectivement, les « Certificats représentatifs de
titres »], sociétés d’investissement immobilier cotées
[REIT] et sociétés en commandite principales [MLP]) de
sociétés situées dans le monde entier qui participent à des activités liées aux infrastructures et à des activités
connexes (les « Sociétés d’infrastructure »).
Les investissements dans des REIT n’excéderont pas 20 % de la Valeur liquidative du Compartiment.
Le Compartiment n’investira pas plus de 25 % de sa Valeur liquidative dans des pays émergents. Ces pays émergents sont susceptibles d’inclure, sans toutefois s’y limiter, le Brésil, la Russie, la Chine (l’exposition à la
Chine sera réalisée au moyen de titres de sociétés
enregistrées en Chine continentale qui sont cotées à la Bourse de Hong Kong et de Certificats représentatifs de
titres), l’Inde (l’exposition à l’Inde sera réalisée au moyen
de Certificats représentatifs de titres) et le Mexique. Le Compartiment n’investira pas en Russie. Le
Compartiment peut également investir jusqu’à 10 % de sa Valeur liquidative dans d’autres organismes de placement
collectif (« OPC ») à capital variable, y compris des fonds
monétaires et des fonds négociés en Bourse à capital variable (« ETF »). Le Compartiment peut également détenir des actifs liquides à titre accessoire, tels que des dépôts bancaires.
Le Compartiment peut avoir recours à des IFD, comme indiqué ci-dessous dans la section intitulée « Gestion
efficace de portefeuille ». Le Compartiment n’utilisera pas d’IFD à des fins d’investissement. Le Compartiment a la faculté de détenir occasionnellement des bons de souscription ou droits de souscription d’actions si ceux-ci ont été acquis du fait d’une opération sur titres.
Le Compartiment n’a pas l’intention d’initier des positions courtes.
À l’exception des investissements autorisés dans des valeurs mobilières non cotées, dans des instruments du marché monétaire approuvés et des OPC à capital
variable, les investissements du Compartiment doivent être cotés ou négociés sur des Marchés éligibles. Une
liste des Marchés éligibles est exposée à l’Annexe II du
Prospectus.

##### Indice de référence
L’indice Global Infrastructure NR Index (l’« Indice de référence »).
L’Indice de référence est conçu pour assurer le suivi d’entreprises du monde entier qui ont été choisies pour représenter le secteur des infrastructures cotées tout en
maintenant la liquidité et la négociabilité. Afin de créer une exposition diversifiée, l’Indice de référence comprend trois groupes d’infrastructure distincts : l’énergie, les transports et les services publics.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour investir en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement.
Cependant, l’Indice de référence couvrant une part importante de l’univers d’investissement, la majorité des
participations du Compartiment seront des composantes de l’Indice de référence. Les pondérations du portefeuille ne seront toutefois pas influencées par celles de l’Indice de référence. La stratégie d’investissement ne restreint pas la mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.

##### Stratégie d’investissement
La stratégie d’investissement vise à maximiser le rendement total de la croissance des revenus et du capital en investissant dans un portefeuille concentré de
sociétés d’infrastructure, tel que décrit plus en détail dans la section « Politique d’investissement » ci-dessus.
La majeure partie des actifs du Compartiment sera allouée à des investissements dans des sociétés
d’infrastructures à haut rendement afin de fournir un
revenu sous forme de dividendes. En outre, une partie
des actifs du Compartiment sera allouée à des sociétés d’infrastructure à faible rendement (p. ex., des actions pour lesquelles les dividendes versés sont plus faibles)
présentant de fortes perspectives de croissance.
Dans le cadre de ces allocations d’actifs, le Gestionnaire de portefeuille peut rechercher une exposition à des secteurs d’infrastructure traditionnels tels que l’énergie, l’industrie, le transport et les services publics, ainsi qu’à des secteurs d’infrastructure non traditionnels tels que les télécommunications, l’hébergement des personnes
âgées, les soins de santé et l’immobilier. À tout moment,
le Compartiment peut être exposé à une partie ou à l’ensemble de ces secteurs, en fonction de la vision du Gestionnaire de portefeuille quant à chacun de ces
secteurs. Cette vision sera influencée par les événements économiques, politiques ou réglementaires affectant chaque secteur. Le Compartiment investira dans des
sociétés d’infrastructures situées dans des pays
développés comme émergents.
Le Gestionnaire de portefeuille cherche à investir dans des sociétés d’infrastructure qui, selon lui, bénéficient d’un environnement réglementaire constant (une caractéristique plus courante dans les marchés
développés), ainsi que de flux de trésorerie stables axés sur des modèles commerciaux durables et des profils cohérents en matière de versement de dividendes. Le Gestionnaire de portefeuille utilise la recherche quantitative et fondamentale pour sélectionner des investissements en se concentrant sur les sociétés
d’infrastructure qui possèdent la combinaison la plus
rentable en termes de stabilité des flux de trésorerie, de
potentiel en matière de versement de dividende et de paramètres d’évaluation (tels que le ratio cours/ bénéfices, le ratio cours/valeur comptable et le ratio
cours/flux de trésorerie). La recherche fondamentale du Gestionnaire de portefeuille repose sur les principaux
critères d’évaluation suivants : solidité du bilan, paysage concurrentiel, valorisation des cours, liquidité et analyse du contexte réglementaire.
La gestion du risque est un élément clé de la stratégie d’investissement. Lorsqu’un risque économique, politique ou réglementaire est présent dans un pays ou un secteur d’infrastructure, le Gestionnaire de portefeuille cherche à limiter l’impact de ces risques sur le Compartiment par le
biais de son processus de sélection de titres (décrit ci-
dessous).

##### Sélection des titres Critères d’achat
Lorsqu’il choisit une Société d’infrastructure dans
laquelle investir, le Gestionnaire de portefeuille se
demande avant tout si les prévisions de flux de trésorerie de la Société d’infrastructure sont durables ou non. Pour le déterminer, le Gestionnaire de portefeuille examine la
viabilité de la stratégie de croissance de la Société d’infrastructure, sa compétitivité et les conditions générales du secteur. En outre, le Gestionnaire de portefeuille identifie, à l’échelle de l’entreprise, les risques économiques, réglementaires et politiques qui pèsent sur chaque Société d’infrastructure considérée, en examinant et en évaluant des domaines clés tels que le
paysage concurrentiel, le contexte politique et le cadre réglementaire, et sélectionne ensuite les sociétés
d’infrastructure qu’il estime les plus à même de résister
à, ou celles qui sont le moins exposées à, de tels risques en raison d’avantages concurrentiels particuliers dont jouit la Société d’infrastructure, tels que les années d’existence, la qualité et le coût de remplacement de ses actifs infrastructurels (et donc la durabilité de ses flux de
trésorerie).
Critères de vente
Le Gestionnaire de portefeuille peut décider de vendre sa participation dans une Société d’infrastructure lorsqu’il identifie, au cours de l’analyse, des failles dans son modèle commercial, une exposition accrue au risque
économique, réglementaire ou politique, ou des versements de dividendes inférieurs aux prévisions.. Des investissements seront également vendus lorsque le
Gestionnaire de portefeuille identifie des opportunités d’investissement plus prometteuses.

##### Règlement sur la publication d’informations en matière de finance durable
La gestion du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents, il évalue le risque qu’un événement ou une
condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Le Gestionnaire de portefeuille utilise la recherche fondamentale renforcée par l’analyse de données quantitatives afin d’évaluer les facteurs environnementaux, sociaux et de gouvernance de chaque
investissement et de déterminer les risques potentiels en
matière de durabilité. Ces facteurs peuvent inclure, entre autres, l’impact d’un émetteur sur l’environnement, y compris les émissions, l’utilisation des sols et les
pratiques en matière de déchets, ainsi que les politiques et pratiques sociales, dont les questions relatives aux
employés, les pratiques de gestion de la chaîne d’approvisionnement et les politiques relatives aux droits de l’homme. Le Gestionnaire de portefeuille identifie et intègre dans son processus de décision d’investissement les considérations qui influenceront le comportement d’un émetteur ou auront un impact sur les environnements économique, réglementaire, politique,
social ou physique dans lesquels il opère. Le Gestionnaire de portefeuille tire parti de l’analyse fondamentale et des données quantitatives pour obtenir un score ESG obtenu en interne afin d’améliorer la gestion des facteurs de durabilité au sein du Compartiment. Le Gestionnaire de portefeuille effectue une recherche en interne qu’il complète par des informations de tiers, notamment les
données et notations ESG de MSCI, les données ESG de Bloomberg, le Guide d’engagement du Sustainability Accounting Standards Board (SASB), les études sell-side
et les événements relatifs au secteur concerné. Il en résulte un processus de décision d’investissement qui vise à minimiser l’exposition du Compartiment aux sociétés encore à la traîne sur les critères
environnementaux, sociaux et de gouvernance, tout en tenant compte des risques résiduels en matière de durabilité associés aux investissements.
Le Gestionnaire de portefeuille évalue également les
pratiques de gouvernance des émetteurs par le biais d’une recherche fondamentale, complétée par des évaluations et notations établies en interne ou par des
tiers, notamment en ce qui concerne de saines structures de direction, les relations avec les employés, la rémunération du personnel et la conformité en matière
de fiscalité.
Le Gestionnaire de portefeuille contrôle régulièrement les facteurs de durabilité et les expositions au risque en examinant les rapports de notation ESG de tiers et ceux établis en interne par son équipe.
Comme expliqué ci-dessus, la gestion et l’évaluation des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours possible qu’un Événement ESG ait une incidence négative
importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du régime des principales incidences négatives prévu à
l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire
soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences
négatives des décisions d’investissement sur les facteurs
de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du
régime en matière de reporting. Le Gestionnaire continue d’analyser les données disponibles qui seraient nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Enregistrement en Allemagne
Ce Compartiment est enregistré à la vente en Allemagne. Le Compartiment est classé en tant que Fonds
d’investissement aux fins de l’impôt allemand et, à ce
titre, il investira en permanence plus de 50 % de ses actifs en actions au sens de l’Article 2, paragraphe 8 de la Loi allemande sur la fiscalité des investissements.

#### Enregistrement à Hong Kong
Ce Compartiment est enregistré à la vente à Hong Kong.

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 50 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale.
En utilisant des IFD à des fins de GEP, le Compartiment peut obtenir une exposition indirecte aux indices financiers.
Veuillez consulter la section du Prospectus intitulée « La Société – Gestion efficace de portefeuille » pour de plus amples informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux
OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories d’actions non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 EUR, 1 USD, 1 GBP, 1 CHF ou
1 SGD selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) portant le suffixe (« M »), les dividendes seront normalement déclarés chaque mois, le dernier Jour
ouvrable du mois. Concernant les détenteurs d’Actions de
distribution mensuelle, les dividendes déclarés leur
seront normalement versés au plus tard le 20 du mois suivant. Pour toutes les autres catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les
dividendes seront normalement déclarés trimestriellement, les 31 décembre, 31 mars, 30 juin et
30 septembre. En ce qui concerne les détenteurs d’Actions de distribution, les dividendes déclarés seront normalement versés au plus tard le 11 février, le 11 mai,
le 11 août et le 11 novembre, respectivement. De plus
amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.
Les commissions et frais liés à la constitution et à l’organisation du Compartiment, y compris les honoraires des conseillers professionnels du Compartiment seront
pris en charge par le Compartiment. Ces commissions et frais sont estimés à un maximum de 50 000 € et seront pris en charge par le Compartiment et amortis sur une
période de 3 ans à partir de son lancement.

#### Facteurs de risque
De plus, nous attirons l’attention des investisseurs sur la section intitulée « Facteurs de risque » du Prospectus et plus spécifiquement sur celle intitulée « Risque de
concentration ».

## BNY Mellon Mobility Innovation Fund

### SUPPLÉMENT 43, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
Le présent Supplément contient des informations spécifiques relatives au Compartiment BNY Mellon Pan European Equity (le « Compartiment »), compartiment de BNY Mellon Global Funds plc (la « Société »), société
d’investissement à capital variable à compartiments multiples constituée en tant qu’OPCVM en vertu de la Réglementation OPCVM. Il existe une responsabilité
séparée entre les Compartiments de la Société.
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins de couverture et de gestion efficace de portefeuille. Le Compartiment n’utilisera pas d’IFD à des fins d’investissement. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section« Exposition globale et effet de levier » ci-après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- L’investissement dans le Compartiment ne devrait pas constituer une proportion conséquente d’un portefeuille de placement et pourrait ne pas convenir à tous les investisseurs.
- La Valeur liquidative du Compartiment peut faire l’objet d’une volatilité élevée en raison de sa politique d’investissement.


#### Gestionnaire de portefeuille
Newton Investment Management North America LLC

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée occasionnellement par les Administrateurs, à condition
que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale
et le niveau des commissions et frais prélevés. Les catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR A (Cap.) | EUR | 5 000 | 5 % | 1,85 % | 0 % |
| EUR A (Dist.) | EUR | 5 000 | 5 % | 1,85 % | 0 % |
| USD A (Cap.) | USD | 5 000 | 5 % | 1,85 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 1,85 % | 0 % |
| CHF A (Cap.) | CHF | 5 000 | 5 % | 1,85 % | 0 % |
| CHF A (Dist.) | CHF | 5 000 | 5 % | 1,85 % | 0 % |
| EUR H (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,85 % | 0 % |
| EUR H (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,85 % | 0 % |
| Sterling H (Cap.) (couverte) | GBP | 5 000 | 5 % | 1,85 % | 0 % |
| Sterling H (Dist.) (couverte) | GBP | 5 000 | 5 % | 1,85 % | 0 % |
| CHF H (Cap.) (couverte) | CHF | 5 000 | 5 % | 1,85 % | 0 % |
| CHF H (Dist.) (couverte) | CHF | 5 000 | 5 % | 1,85 % | 0 % |

| Actions « B » et Actions « J (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR B (Cap.) | EUR | 10 000 | 5 % | 1,40 % | 0 % |
| EUR B (Dist.) | EUR | 10 000 | 5 % | 1,40 % | 0 % |
| USD B (Cap.) | USD | 10 000 | 5 % | 1,40 % | 0 % |
| USD B (Dist.) | USD | 10 000 | 5 % | 1,40 % | 0 % |
| SGD B (Cap.) | SGD | 10 000 | 5 % | 1,40 % | 0 % |
| SGD B (Dist.) | SGD | 10 000 | 5 % | 1,40 % | 0 % |
| HKD B (Cap.) | HKD | 100 000 | 5 % | 1,40 % | 0 % |
| HKD B (Dist.) | HKD | 100 000 | 5 % | 1,40 % | 0 % |
| EUR J (Cap.) (couverte) | EUR | 10 000 | 5 % | 1,40 % | 0 % |
| EUR J (Dist.) (couverte) | EUR | 10 000 | 5 % | 1,40 % | 0 % |
| SGD J (Cap.) (couverte) | SGD | 10 000 | 5 % | 1,40 % | 0 % |
| SGD J (Dist.) (couverte) | SGD | 10 000 | 5 % | 1,40 % | 0 % |
| AUD J (Cap.) (couverte) | AUD | 10 000 | 5 % | 1,40 % | 0 % |
| AUD J (Dist.) (couverte) | AUD | 10 000 | 5 % | 1,40 % | 0 % |
| CAD J (Cap.) (couverte) | CAD | 10 000 | 5 % | 1,40 % | 0 % |
| CAD J (Dist.) (couverte) | CAD | 10 000 | 5 % | 1,40 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 0,90 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 0,90 % | 0 % |
| EUR G (Cap.) | EUR | 5 000 | 5 % | 0,90 % | 0 % |
| EUR G (Dist.) | EUR | 5 000 | 5 % | 0,90 % | 0 % |
| CHF G (Cap.) | CHF | 5 000 | 5 % | 0,90 % | 0 % |
| CHF G (Dist.) | CHF | 5 000 | 5 % | 0,90 % | 0 % |
| EUR G (Dist.) (couverte) | EUR | 5 000 | 5 % | 0,90 % | 0 % |
| EUR G (Cap.) (couverte) | EUR | 5 000 | 5 % | 0,90 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR C (Cap.) | EUR | 5 000 000 | 5 % | 0,90 % | 0 % |
| EUR C (Dist.) | EUR | 5 000 000 | 5 % | 0,90 % | 0 % |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 0,90 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 0,90 % | 0 % |
| SGD C (Cap.) | SGD | 5 000 000 | 5 % | 0,90 % | 0 % |
| SGD C (Dist.) | SGD | 5 000 000 | 5 % | 0,90 % | 0 % |
| EUR I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 0,90 % | 0 % |
| EUR I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 0,90 % | 0 % |
| SGD I (Dist.) (couverte) | SGD | 5 000 000 | 5 % | 0,90 % | 0 % |
| SGD I (Cap.) (couverte) | SGD | 5 000 000 | 5 % | 0,90 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,70 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,70 % | 0 % |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,70 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,70 % | 0 % |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,70 % | 0 % |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,70 % | 0 % |
| CHF W (Cap.) | CHF | 15 000 000 | 5 % | 0,70 % | 0 % |
| CHF W (Dist.) | CHF | 15 000 000 | 5 % | 0,70 % | 0 % |
| SGD W (Cap.) | SGD | 15 000 000 | 5 % | 0,70 % | 0 % |
| SGD W (Dist.) | SGD | 15 000 000 | 5 % | 0,70 % | 0 % |
| EUR W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,70 % | 0 % |
| EUR W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,70 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,70 % | 0 % |
| CHF W (Dist.) (couverte) | CHF | 15 000 000 | 5 % | 0,70 % | 0 % |
| SGD W (Cap.) (couverte) | SGD | 15 000 000 | 5 % | 0,70 % | 0 % |
| SGD W (Dist.) (couverte) | SGD | 15 000 000 | 5 % | 0,70 % | 0 % |

| Actions « K » et Actions « K (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD K (Cap.) | USD | Comme convenu | 5 % | 1,40 % | 0 % |
| USD K (Dist.) | USD | Comme convenu | 5 % | 1,40 % | 0 % |
| EUR K (Cap.) (couverte) | EUR | Comme convenu | 5 % | 1,40 % | 0 % |
| EUR K (Dist.) (couverte) | EUR | Comme convenu | 5 % | 1,40 % | 0 % |
| CHF K (Cap.) (couverte) | CHF | Comme convenu | 5 % | 1,40 % | 0 % |
| CHF K (Dist.) (couverte) | CHF | Comme convenu | 5 % | 1,40 % | 0 % |
| Sterling K (Cap.) (couverte) | GBP | Comme convenu | 5 % | 1,40 % | 0 % |
| Sterling K (Dist.) (couverte) | GBP | Comme convenu | 5 % | 1,40 % | 0 % |
| SGD K (Cap.) (couverte) | SGD | Comme convenu | 5 % | 1,40 % | 0 % |
| SGD K (Dist.) (couverte) | SGD | Comme convenu | 5 % | 1,40 % | 0 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD E (Cap.) | USD | Comme convenu | 5 % | 0,40 % | 0 % |
| USD E (Dist.) | USD | Comme convenu | 5 % | 0,40 % | 0 % |
| EUR E (Cap.) | EUR | Comme convenu | 5 % | 0,40 % | 0 % |
| EUR E (Dist.) | EUR | Comme convenu | 5 % | 0,40 % | 0 % |
| CHF E (Cap.) | CHF | Comme convenu | 5 % | 0,40 % | 0 % |
| CHF E (Dist.) | CHF | Comme convenu | 5 % | 0,40 % | 0 % |
| SGD E (Cap.) | SGD | Comme convenu | 5 % | 0,40 % | 0 % |
| SGD E (Dist.) | SGD | Comme convenu | 5 % | 0,40 % | 0 % |
| EUR E (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,40 % | 0 % |
| EUR E (Dist.) (couverte) | EUR | Comme convenu | 5 % | 0,40 % | 0 % |
| CHF E (Cap.) (couverte) | CHF | Comme convenu | 5 % | 0,40 % | 0 % |
| CHF E (Dist.) (couverte) | CHF | Comme convenu | 5 % | 0,40 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,40 % | 0 % |
| Sterling E (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,40 % | 0 % |
| SGD E (Cap.) (couverte) | SGD | Comme convenu | 5 % | 0,40 % | 0 % |
| SGD E (Dist.) (couverte) | SGD | Comme convenu | 5 % | 0,40 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| EUR X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| EUR X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| EUR X (Cap.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| EUR X (Dist.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à assurer l’appréciation du capital sur le long terme, en acquérant principalement une
exposition à des sociétés situées dans le monde entier qui sont axées sur l’innovation dans les transports et sur les technologies connexes.

##### Politique d’investissement
Le Compartiment investit essentiellement (c’est-à-dire au moins 80 % de sa Valeur liquidative) dans des actions et
titres apparentés, dont, entre autres, des actions ordinaires et privilégiées, des certificats représentatifs de titres américains et des certificats représentatifs de titres internationaux [collectivement, les « Certificats
représentatifs de titres »]), de sociétés situées dans le monde entier qui sont axées sur l’innovation dans les transports et les technologies connexes.
Ces sociétés incluent des constructeurs automobiles, des équipementiers et des fournisseurs de technologies automobiles qui sont axés sur les innovations en matière
d’usage, de contrôle et de puissance dans le secteur des
transports, comme les infrastructures améliorées et les
capacités de traitement de données, la production d’énergie propre, les répercussions sécuritaires des systèmes avancés d’aide à la conduite. Elles regroupent également les entreprises qui recherchent ces solutions
innovantes dans le domaine de la mobilité ou permettent l’émergence de ces dernières (les « Sociétés innovantes autour de la mobilité »). Le Compartiment investira dans
plusieurs secteurs à travers le monde reflétant le large éventail de liens entre les investissements dans les transports, dans les composants automobiles, dans les logiciels et dans les services Internet.
Il n’existe aucune limite à l’investissement du Compartiment dans des actions et titres apparentés de sociétés à petite et moyenne capitalisation et le
Compartiment peut investir de manière significative dans ce type de sociétés.
En particulier, une part significative de l’univers d’investissement du Compartiment peut être choisie parmi les composantes de l’Indice de référence appartenant à certains secteurs de marché. L’Indice de
référence représente le marché des capitalisations
moyennes tant sur les marchés développés que sur les marchés émergents. L’Indice de référence comprend plusieurs secteurs de marché qui sont pertinents pour la stratégie d’investissement du Compartiment, comme détaillé ci-dessous. Le Compartiment investira
directement dans des composantes sélectionnées de l’Indice de référence. Vous trouverez de plus amples informations concernant l’Indice de référence sur le site www.msci.com. L’Indice de référence est rééquilibré en mai et en novembre. Cependant, alors que le Compartiment utilise l’Indice de référence à des fins d’investissement, car il ne vise ni à le reproduire ni à le répliquer, il ne sera pas nécessairement touché par les
rééquilibrages, les coûts associés ou la pondération des actions de l’Indice de référence qui ne respecterait pas les restrictions d’investissement fixées.
Le Compartiment peut investir tant sur les marchés développés que sur les marchés émergents. Alors qu’il est prévu que le Compartiment construise une exposition
significative aux marchés développés, celui-ci peut occasionnellement investir plus de 40 % de sa Valeur
liquidative dans des pays émergents, en fonction du développement du secteur du marché de l’innovation en matière de mobilité, et aucune limite d’investissement n’est imposée pour ces investissements. Ces pays émergents sont susceptibles d’inclure, sans toutefois s’y limiter, le Brésil, la Russie, la Chine, l’Inde et le Mexique.
Le Compartiment peut acquérir une exposition à la Chine moyennant l’achat d’actions chinoises de catégorie H cotées ou négociées à la Bourse de Hongkong, d’actions chinoises de catégorie B cotées ou négociées à la Bourse
de Shanghai ou de Shenzhen ou d’actions chinoises de catégorie A par le biais du Stock Connect, ou encore par
le biais de Certificats représentatifs de titres. Le Compartiment peut investir jusqu’à 20 % de sa Valeur liquidative dans des actions chinoises de classe A par le
biais du Stock Connect. Le programme Stock Connect est présenté plus en détail dans l’Annexe V du Prospectus.
Le Compartiment peut acquérir une exposition en Inde de
manière directe ou par le biais de Certificats représentatifs de titres. Le Compartiment peut investir
jusqu’à 20 % de sa Valeur liquidative dans des titres
cotés ou négociés sur la Bourse de Moscou.
Le Compartiment peut également investir jusqu’à 10 % de sa Valeur liquidative dans d’autres organismes de placement collectif (« OPC ») à capital variable, y compris
des fonds monétaires et des fonds négociés en Bourse à capital variable (« ETF »). Le Compartiment peut également détenir des actifs liquides à titre accessoire, tels que des dépôts bancaires.
En conséquence, la performance du Compartiment peut être fortement influencée par les fluctuations des taux de change, car les actifs du Compartiment libellés dans une devise autre que la devise de référence ne sont généralement pas couverts dans la devise de référence.
Cependant, le Compartiment peut de temps à autre utiliser des IFD, comme indiqué ci-dessous dans les
sections intitulées « Utilisation d’IFD » et « Gestion
efficace de portefeuille », pour conclure des opérations
de change croisées visant à couvrir tout ou partie de l’exposition aux devises dans la Devise de référence du Compartiment.
Le Compartiment n’a pas l’intention d’initier des positions courtes.
À l’exception des investissements autorisés dans des valeurs mobilières non cotées, dans des instruments du marché monétaire approuvés et des OPC à capital
variable, les investissements du Compartiment doivent être cotés ou négociés sur des Marchés éligibles. Une
liste des Marchés éligibles est exposée à l’Annexe II du
Prospectus.

##### Indice de référence
L’indice MSCI AC World Mid Cap NR Index (l’« Indice de référence »).
L’Indice de référence intègre des moyennes capitalisations représentatives de 23 marchés développés
(MD) et 26 marchés émergents (ME). Avec 1 307 composantes, l’Indice de référence couvre approximativement 15 % de la capitalisation boursière
ajustée du flottant dans chaque pays.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que le Gestionnaire de portefeuille a tout pouvoir pour investir
en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement. Bien que les avoirs du Compartiment puissent inclure des composantes de l’Indice de référence, la sélection des
placements et leurs pondérations dans le portefeuille ne sont pas influencées par celles de l’Indice de référence. La stratégie d’investissement ne restreint pas la mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.
Veuillez consulter les sections « Politique d’investissement » et « Stratégie d’investissement » pour obtenir de plus amples informations sur l’utilisation de l’Indice de référence.

##### Stratégie d’investissement
Le Compartiment vise à atteindre son objectif d’investissement en acquérant une exposition aux Sociétés innovantes autour de la mobilité, tel que décrit
plus en détail dans la section « Politique d’investissement » ci-dessus.
Identifier l’univers d’investissement
Le Gestionnaire de portefeuille peut sélectionner une part significative (jusqu’à 80 %) des titres du Compartiment provenant des secteurs de marché pertinents de l’Indice de référence. Ces secteurs comprennent, mais sans s’y limiter, les biens non essentiels (composants
automobiles, automobiles, articles ménagers durables), les biens industriels (matériaux de construction, construction et ingénierie, matériel électrique, conglomérats industriels, machines), les technologies de
l’information (matériel de communication, instruments et
composants électroniques, logiciels et services Internet,
semi-conducteurs et équipements associés, logiciels, technologie, matériel informatique et périphériques) et les services de télécommunication (services de télécommunication diversifiés, services de télécommunication sans fil). Le Compartiment investira directement dans des composantes sélectionnées de ces secteurs.
La liste des secteurs de marché pertinents au sein de l’Indice de référence et leurs composantes sera régulièrement examinée. Tout changement pertinent de l’Indice de référence sera examiné et analysé par le Gestionnaire de portefeuille qui décidera si des mesures doivent être prises pour refléter l’évolution de l’univers
d’investissement.
Le Gestionnaire de portefeuille bénéficie également d’une exposition à des sociétés qui ne font pas partie de l’Indice de référence et qu’il identifie à travers ses recherches sectorielles.
Sélection d’investissements
Le Gestionnaire de portefeuille sélectionne des investissements issus de l’univers d’investissement en ayant recours à une analyse fondamentale pour évaluer la capacité et la volonté d’une société à conserver et, idéalement, à accroître sa valeur. Cette analyse fondamentale comprend l’évaluation des éléments suivants : solidité du bilan, paysage concurrentiel,
valorisation des cours, liquidité et analyse du contexte réglementaire.
Critères de vente
Le Gestionnaire de portefeuille examine régulièrement la performance de chaque investissement. Les examens des performances comprennent une évaluation de la
performance d’un titre par rapport à son groupe de pairs ainsi qu’à l’Indice de référence. Le Gestionnaire de portefeuille envisage de vendre des titres dont le
potentiel de croissance est limité ou inexistant, dont la valeur devrait diminuer ou lorsque des opportunités
d’investissement plus prometteuses sont disponibles.

##### Règlement sur la publication d’informations en matière de finance durable
La gestion du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents, il évalue le risque qu’un événement ou une
condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Le Gestionnaire de portefeuille utilise la recherche fondamentale renforcée par l’analyse de données quantitatives afin d’évaluer les facteurs environnementaux, sociaux et de gouvernance de chaque
investissement et de déterminer les risques potentiels en
matière de durabilité. Ces facteurs peuvent inclure, entre autres, l’impact d’un émetteur sur l’environnement, y compris les émissions, l’utilisation des sols et les pratiques en matière de déchets, ainsi que les politiques
et pratiques sociales, dont les questions relatives aux employés, les pratiques de gestion de la chaîne
d’approvisionnement et les politiques relatives aux droits de l’homme. Le Gestionnaire de portefeuille identifie et intègre dans son processus de décision d’investissement les considérations qui influenceront le comportement d’un émetteur ou auront un impact sur les environnements économique, réglementaire, politique,
social ou physique dans lesquels il opère. Le Gestionnaire de portefeuille tire parti de l’analyse fondamentale et des données quantitatives pour obtenir un score ESG obtenu en interne afin d’améliorer la gestion des facteurs de durabilité au sein du Compartiment. Le Gestionnaire de portefeuille effectue une recherche en interne qu’il complète par des informations de tiers, notamment les
données et notations ESG de MSCI, les données ESG de Bloomberg, le Guide d’engagement du Sustainability Accounting Standards Board (SASB), les études sell-side
et les événements relatifs au secteur concerné. Il en résulte un processus de décision d’investissement qui vise à minimiser l’exposition du Compartiment aux sociétés encore à la traîne sur les critères
environnementaux, sociaux et de gouvernance, tout en tenant compte des risques résiduels en matière de durabilité associés aux investissements.
Le Gestionnaire de portefeuille évalue également les pratiques de gouvernance des émetteurs par le biais
d’une recherche fondamentale, complétée par des
évaluations et notations établies en interne ou par des
tiers, notamment en ce qui concerne de saines structures de direction, les relations avec les employés, la rémunération du personnel et la conformité en matière
de fiscalité.
Le Gestionnaire de portefeuille contrôle régulièrement les facteurs de durabilité et les expositions au risque en examinant les rapports de notation ESG de tiers et ceux établis en interne par son équipe.
Comme expliqué ci-dessus, la gestion et l’évaluation des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours possible qu’un Événement ESG ait une incidence négative
importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du régime des principales incidences négatives prévu à
l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire
soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure
actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment n’utilisera pas d’IFD à des fins d’investissement.

#### Enregistrement en Allemagne
Ce Compartiment est enregistré à la vente en Allemagne. Le Compartiment est classé en tant que Fonds
d’investissement aux fins de l’impôt allemand et, à ce
titre, il investira en permanence plus de 50 % de ses actifs en actions au sens de l’Article 2, paragraphe 8 de la Loi allemande sur la fiscalité des investissements.

#### Enregistrement à Hong Kong
Ce Compartiment est enregistré à la vente à Hong Kong.

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 50 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale.
En utilisant des IFD à des fins de GEP, le Compartiment peut obtenir une exposition indirecte aux indices financiers.
Veuillez consulter la section du Prospectus intitulée « La Société – Gestion efficace de portefeuille » pour de plus amples informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégorie d’actions non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action
respectif, à savoir de 1 EUR, 1 USD, 1 GBP, 1 CHF ou
1 SGD selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés le 31 décembre de chaque année.
Concernant les détenteurs d’Actions de distribution, les
dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.
Les commissions et frais liés à la constitution et à l’organisation du Compartiment, y compris les honoraires des conseillers professionnels du Compartiment seront
pris en charge par le Compartiment. Ces commissions et frais sont estimés à un maximum de 50 000 € et seront amortis sur une période de maximum 3 ans à compter de
la date de lancement du Compartiment.

#### Facteurs de risque
De plus, nous attirons l’attention des investisseurs sur la section intitulée « Facteurs de risque » du Prospectus et
plus spécifiquement sur celle intitulée « Risque de concentration ».

## BNY Mellon U.S. Credit Select Income Fund

### SUPPLÉMENT 44, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Les commissions de gestion et autres frais du Compartiment seront imputés au capital du Compartiment en vue de maximiser les distributions.

Veuillez consulter la section « Commissions et
frais » dans le Prospectus pour plus d’informations.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.
- Le Compartiment peut, dans certains cas exceptionnels, effectuer des investissements importants dans des dépôts auprès d’établissements de crédit. Même si le Compartiment peut investir dans des instruments du marché monétaire et des dépôts en numéraire, les Actions dans le Compartiment ne sauraient constituer des dépôts et diffèrent des dépôts par nature en ceci que l’investissement n’est pas garanti et que sa valeur est susceptible de fluctuer. Les investissements dans le Compartiment impliquent certains risques d’investissement, dont la perte éventuelle du capital.


#### Gestionnaire de portefeuille
Insight Investment Management (Global) Limited
Le Gestionnaire de portefeuille peut déléguer ses fonctions de gestion à un Gestionnaire de portefeuille délégué et/ou désigner un conseiller en investissement délégué pour assurer un service de conseil en investissement conformément aux exigences de la Banque centrale. À la date du présent Supplément, le Gestionnaire de portefeuille a désigné le Gestionnaire de portefeuille délégué indiqué ci-dessous.

#### Gestionnaire de portefeuille délégué
Le Gestionnaire de portefeuille peut déléguer certaines ou la totalité de ses fonctions de gestion
d’investissement eu égard au présent Compartiment à
Insight North America LLC (le « Gestionnaire de portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique
« Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les
tableaux ci-après et se différencient par leur devise de référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD A (Cap.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| Euro H (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro H (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| CHF H (Cap.) (couverte) | CHF | 5 000 | 5 % | 1,00 % | 0 % |
| CAD H (Cap.) (couverte) | CAD | 5 000 | 5 % | 1,00 % | 0 % |
| CAD H (Dist.) (couverte) | CAD | 5 000 | 5 % | 1,00 % | 0 % |
| HKD H (Cap.) (couverte) | HKD | 50 000 | 5 % | 1,00 % | 0 % |
| HKD H (Dist.) (couverte) | HKD | 50 000 | 5 % | 1,00 % | 0 % |
| CNH H (Cap.) (couverte) | CNH | 50 000 | 5 % | 1,00 % | 0 % |
| CNH H (Dist.) (couverte) | CNH | 50 000 | 5 % | 1,00 % | 0 % |
| SGD H (Cap.) (couverte) | SGD | 5 000 | 5 % | 1,00 % | 0 % |
| SGD H (Dist.) (couverte) | SGD | 5 000 | 5 % | 1,00 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 0,50 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 0,50 % | 0 % |
| Euro G (Cap.) (couverte) | EUR | 5 000 | 5 % | 0,50 % | 0 % |
| Euro G (Dist.) (couverte) | EUR | 5 000 | 5 % | 0,50 % | 0 % |
| Sterling G (Cap.) (couverte) | GBP | 5 000 | 5 % | 0,50 % | 0 % |
| Sterling G (Dist.) (couverte) | GBP | 5 000 | 5 % | 0,50 % | 0 % |
| CHF G (Cap.) (couverte) | CHF | 5 000 | 5 % | 0,50 % | 0 % |
| CAD G (Cap.) (couverte) | CAD | 5 000 | 5 % | 0,50 % | 0 % |
| CAD G (Dist.) (couverte) | CAD | 5 000 | 5 % | 0,50 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 0,50 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 0,50 % | 0 % |
| Euro I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 0,50 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 0,50 % | 0 % |
| CHF I (Cap.) (couverte) | CHF | 5 000 000 | 5 % | 0,50 % | 0 % |
| CAD I (Cap.) (couverte) | CAD | 5 000 000 | 5 % | 0,50 % | 0 % |
| CAD I (Dist.) (couverte) | CAD | 5 000 000 | 5 % | 0,50 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,40 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,40 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,40 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,40 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,40 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,40 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,40 % | 0 % |
| CAD W (Cap.) (couverte) | CAD | 15 000 000 | 5 % | 0,40 % | 0 % |
| CAD W (Dist.) (couverte) | CAD | 15 000 000 | 5 % | 0,40 % | 0 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD E (Cap.) | USD | Comme convenu | 5 % | 0,30 % | 0 % |
| USD E (Dist.) | USD | Comme convenu | 5 % | 0,30 % | 0 % |
| Euro E (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,30 % | 0 % |
| Euro E (Dist.) (couverte) | EUR | Comme convenu | 5 % | 0,30 % | 0 % |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,30 % | 0 % |
| Sterling E (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,30 % | 0 % |
| CHF E (Cap.) (couverte) | CHF | Comme convenu | 5 % | 0,30 % | 0 % |
| CAD E (Cap.) (couverte) | CAD | Comme convenu | 5 % | 0,30 % | 0 % |
| CAD E (Dist.) (couverte) | CAD | Comme convenu | 5 % | 0,30 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Cap.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Dist.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Cap.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
L’objectif du Compartiment est d’assurer un revenu aux investisseurs et une éventuelle croissance du capital à long terme.

##### Politique d’investissement
Le Compartiment investit la majorité de ses actifs (soit au moins 51 % de sa Valeur liquidative) dans un portefeuille de titres de créance et apparentés à taux fixe et variable émis par des entreprises, des établissements financiers, des agences américaines et le gouvernement américain.
Le Compartiment peut investir le reste de ses actifs dans des instruments de créance et apparentés émis par des émetteurs en dehors des États-Unis, y compris des titres de créance et apparentés émis par des sociétés ou des
entités souveraines. Le Compartiment peut investir jusqu’à 20 % de sa Valeur liquidative dans des marchés émergents, dont près de 10 % de sa Valeur liquidative
dans des actions russes cotées ou négociées à la Bourse de Moscou.
Le Compartiment peut investir à la fois dans des titres de qualité investment grade (c’est-à-dire BBB ou plus) et jusqu’à 35 % de sa Valeur liquidative dans des titres de qualité inférieure à investment grade (c’est-à-dire BB+ ou moins), tel que déterminé par Agence de notation reconnue équivalente, au moment de l’achat, ou dans des titres non notés. Le Compartiment ne sera pas limité par la qualité du crédit ou l’échéance lors de la prise des décisions d’investissement. Par conséquent, les investissements du Compartiment ne seront pas soumis
à une notation de crédit minimum.
Les titres de créances et titres apparentés dans lesquels le Compartiment peut investir comprennent des débentures, des obligations (p. ex. des obligations à
coupon zéro, des obligations d’agence gouvernementale, des obligations municipales, des obligations sécurisées, des obligations avec remboursement anticipé à l’option du détenteur (puttable) ou de l’émetteur (callable), des
obligations TOB, des obligations à basculement, des
obligations à taux progressif, des obligations assorties de paiements en nature, des euro-obligations, des obligations Bullet et des obligations du Trésor), des obligations liées au PIB, des instruments du marché monétaire (p. ex. des bons du Trésor américain, des certificats de dépôt, des billets de trésorerie et des dépôts à terme), des billets (p. ex. des billets à taux variable, des billets payables à vue à taux variable et des bons de participation à des prêts), des placements privés (p. ex. des obligations Reg S ou 144A), des obligations hybrides (p. ex. des obligations perpétuelles, des obligations reportables comme les obligations cumulatives et les obligations non cumulatives, et les titres privilégiés de trusts), des obligations à intérêts différés, des obligations convertibles et des titres convertibles conditionnels (« Coco »), ci-après « Titres de créances et apparentés ».
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des prêts.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des CoCo. Veuillez consulter la section du Prospectus intitulée « Risque lié aux titres
convertibles conditionnels (« CoCo ») pour plus de détails sur les risques associés aux CoCo.
Le Compartiment peut investir dans des certificats d’intérêts résiduel émis par des fiducies d’obligations TOB si cela constitue un moyen plus rentable de s’exposer à des obligations municipales que d’investir directement dans les obligations municipales sous-
jacentes.
Le Compartiment peut investir jusqu’à 5 % de sa Valeur liquidative globale dans des placements privés (tels que certains titres Reg. S. et certains titres 144A).
Le Compartiment chercher à prendre des positions courtes synthétiques sur des swaps de défaut de crédit (« CDS »), des contrats à terme standardisés sur obligations, des swaps de rendement total et des contrats de change à terme pour générer un revenu supplémentaire, couvrir des obligations ou un risque de
crédit (c.-à-d., un risque de défaut, d’inflation ou de taux d’intérêt) et/ou réduire le risque de marché (le risque qu’un marché, une classe d’actifs, ou un émetteur
individuel perde de la valeur) pendant les périodes de
baisse significative des cours du marché.
Le Compartiment peut investir au total jusqu’à 10 % de sa Valeur liquidative dans des organismes de placement
collectif (« OPC ») comme des fonds monétaires, par exemple des OPCVM irlandais gérés par Insight Investment Funds Management Limited et conseillés par le Gestionnaire de portefeuille.
À l’exception des investissements autorisés dans des titres non cotés et des OPC à capital variable, les
investissements du Compartiment seront cotés ou négociés sur des Marchés éligibles énumérés à
l’Annexe II du Prospectus.
Bien que sa devise de référence du Compartiment soit l’USD, le Compartiment peut investir dans des actifs non libellés en USD, qui seront généralement couverts en USD par le biais d’IFD sur devises. Les IFD sur devises qui peuvent être utilisés par le Compartiment à des fins de
couverture sont décrits plus en détail dans le Prospectus, dans la section intitulée « Techniques et instruments financiers dérivés ».

##### Investissements en prêts bancaires
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des participations sur prêts bancaires non titrisés et/ou dans des cessions de prêts, pour
autant que ces instruments constituent des instruments du marché monétaire normalement négociés sur le
marché monétaire, qu’ils soient liquides et qu’il soit
possible de déterminer avec précision leur valeur à tout
moment.
Le Compartiment peut également investir dans des prêts amortissables.
Un prêt est souvent administré par une banque faisant office d’agent pour tous les titulaires. Le Compartiment peut être amené à recourir à la banque mandataire ou à
un autre intermédiaire financier pour appliquer les mesures correctives en matière de crédit appropriées à
l’encontre d’une entreprise emprunteuse.

##### Gestion de la liquidité et des garanties
Le Compartiment détiendra des actifs liquides et quasi liquides dans certaines circonstances, telles que pour satisfaire aux demandes de rachat, faciliter le paiement des frais, conserver des liquidités en attente de réinvestissement et fournir des garanties pour les
contrats d’IFD. Dans des circonstances exceptionnelles,
le Compartiment peut détenir temporairement des niveaux élevés de liquidités et d’actifs quasi liquides (jusqu’à 100 % de sa Valeur liquidative), lorsque les conditions de marché requièrent l’adoption d’une stratégie d’investissement défensive (par exemple, un
krach boursier ou une crise majeure).
Les actifs liquides ou quasi liquides peuvent comprendre n’importe quels titres de créance et apparentés, comme décrit ci-dessus, autres que les CoCo, les MBS et les
ABS, lorsque ceux-ci disposent de caractéristiques semblables à celles d’un actif liquide ou quasi liquide ou de dépôts bancaires. Il est prévu que les émetteurs et/ou
garants de tous ces titres de créance et apparentés et de ces dépôts bancaires auront une notation de crédit, au
moment de l’achat, au moins égale à A1/P1 (ou son
équivalent) publiée par une Agence de notation reconnue, ou seront jugés d’une qualité équivalente par le Gestionnaire de portefeuille.

##### Indice de référence
L’indice Bloomberg Barclays US Credit Index TR (l’« Indice de référence »).
L’Indice de référence mesure les marchés des obligations d’entreprise et d’État de qualité investment grade, libellées en dollars américains, à taux fixe et imposables. Il est composé de l’Indice Bloomberg Barclays US Corporate et d’une composante n’incluant pas d’entreprises, mais plutôt des agences étrangères, des entités souveraines, des entités supranationales et des
autorités locales.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour investir en dehors des composantes de l’Indice de référence sur
la base de l’objectif et de la politique d’investissement. Bien que les avoirs du Compartiment puissent inclure des composantes de l’Indice de référence, la sélection des placements et leurs pondérations dans le portefeuille ne
sont pas influencées par celles de l’Indice de référence. La stratégie d’investissement ne restreint pas la mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.

##### Stratégie d’investissement
La stratégie d’investissement du Compartiment consiste à appliquer à la fois une approche de revenu et une approche de rendement total, combinant :
- essentiellement des revenus générés par les participations centrales du portefeuille achetées pour être détenues à long terme ;et
- dans une moindre mesure, des participations à rendement total actives, que le Gestionnaire de portefeuille aura la possibilité de renouveler fréquemment en fonction de conditions du marché et qui, par conséquent, seront détenues pendant des périodes plus courtes.

Tant les participations centrales du portefeuille générant des revenus que les participations à rendement total actives seront composées de titres de créance et apparentés émis par des émetteurs américains et non américains.
Afin de déterminer l’allocation des actifs du Compartiment dans les participations centrales du portefeuille générant des revenus et les participations à
rendement total actives, le Gestionnaire de portefeuille examine le marché du crédit en prenant en compte les éléments suivants :
- Évaluation de la valeur : en déterminant si chaque segment du marché du crédit se négocie à des niveaux fondamentalement bon marché ou onéreux ;
- Indicateurs stratégiques : en évaluant les fondamentaux des entreprises (c.-à-d. revenus,actifs, passifs), les fondamentaux des ABS (risque de défaut, notations de crédit), l’environnement technique et l’activité économique. Cette évaluation est obtenue en analysant l’évolution future des écarts de rendement sur une période de 12 mois. Un écartde rendement correspond à la différence entre les rendements d’instruments de créance ayant des échéances, des notations de crédit et des risques variables. L’écart peut s’élargir, ce qui signifie que la différence de rendement entre deux obligations augmente et qu’un secteur génère de meilleursrésultats qu’un autre. Lorsque les écarts seréduisent, la différence de rendement diminue et un secteur se comporte moins bien qu’un autre.
- Perspective tactique : en évaluant des facteurs tels que le positionnement, l’opinion des investisseurs (c.- à-d., les attitudes du marché à l’égard d’un titre donné, qui se reflètent dans les fluctuations des cours et l’activité), les émissions et le risque lié auxévénements à court terme (y compris les événementspolitiques). Cette évaluation découle subjectivement des jugements effectués par le Gestionnaire de portefeuille.

Après avoir pris en compte, l’analyse de la valeur, les indicateurs stratégiques et les perspectives tactiques de
chaque segment du marché du crédit, le Gestionnaire de portefeuille décide de la part à allouer aux participations centrales du portefeuille générant des revenus et de celle à affecter aux participations à rendement total actives.
La sélection de certaines participations générant des
revenus et certaines participations à rendement total actives se fera ensuite à partir de l’analyse des titres individuels et de la prise en considération de la duration
et de la courbe de rendement du portefeuille dans son ensemble. La duration est la sensibilité des prix des titres de créance et apparentés aux variations des taux
d’intérêt, exprimée en nombre d’années. La sélection de
titres rassemble également des données de titres individuels obtenues dans le cadre d’une approche ascendante et fournies par les analystes de crédit du
Gestionnaire de portefeuille, spécialisés dans les obligations d’entreprise de secteurs et industries spécifiques, comme les télécommunications,
l’automobile,la technologie, la fabrication et les obligations d’État.
Le Gestionnaire de portefeuille peut tenir compte de facteurs tels que le coût et la facilité d’application pour savoir comment mettre en œuvre la stratégie d’investissement ainsi que la construction de l’exposition aux Titres de créance et apparentés (c’est-à-dire en utilisant des IFD ou OPC plutôt qu’en achetant
directement les Titres de créance et apparentés).

##### Règlement sur la publication d’informations en matière de finance durable
Lorsque le Gestionnaire de portefeuille évalue le risque
en matière de durabilité associé aux investissements sous-jacents du Compartiment, il évalue le risque qu’un événement ou une condition ESG (« Événement ESG ») ait
une incidence négative importante sur la valeur de ces investissements sous-jacents. Les risques en matière de durabilité sont inclus dans le programme
d’investissement responsable du Gestionnaire de
portefeuille et sont gérés en veillant à ce que les décideurs de haut rang soient informés et à l’aide des procédures efficaces de responsabilisation, de transparence et d’application. Lorsque les questions de risque en matière de durabilité sont considérées comme importantes pour les résultats d’investissement, elles
sont intégrées aux processus d’étude préalable. Cette mesure peut inclure l’évaluation de titres individuels et/ ou l’interaction avec des émetteurs ou des acteurs du
marché. Les contrôles internes garantissent une
application permanente des critères de durabilité au Compartiment. Les restrictions ESG, qui comprennent des notations ESG attribuées en interne et des données externes fournies par des tiers, sont destinées à
empêcher ou permettre l’investissement dans des titres
qui répondent à des caractéristiques de durabilité. Ces
contrôles sont codés par rapport au Compartiment et mis à jour à mesure que de nouvelles informations sont reçues et intégrées.
La gouvernance d’entreprise est un facteur de risque clé en matière de durabilité et fait partie du processus de
notation des risques ESG interne appliqué à tous les émetteurs. L’évaluation de la gouvernance d’entreprise effectuée par le Gestionnaire de portefeuille comprend l’évaluation des pratiques, du comportement, de la rémunération, du contrôle, de la responsabilité et de l’éthique du conseil d’administration ou des controverses le concernant. Le Gestionnaire de portefeuille utilise les
résultats des évaluations ESG, en plus de ses propres
connaissances des structures de gouvernance des émetteurs, pour fixer des priorités d’engagement avec ces derniers. Le Gestionnaire de portefeuille examine ces
risques dans leur ensemble afin de décider si un investissement compense raisonnablement un fonds pour les risques en matière de durabilité encourus à long et court terme.
En termes de facteurs sociaux et environnementaux, la méthode de notation ESG interne du Gestionnaire de
portefeuille fournit des informations spécifiques au secteur et à l’émetteur sur des questions clés. Ce modèle aide le Gestionnaire de portefeuille à identifier les
risques clés auxquels un secteur ou un émetteur spécifique peut être confronté.
Le Compartiment peut générer des performances
inférieures ou se comporter de manière différente par rapport à d’autres fonds comparables qui n’intègrent pas les risques en matière de durabilité dans leurs décisions d’investissement. Par ailleurs, il est toujours possible que sa valeur soit négativement affectée par un Événement
ESG.
Le Gestionnaire a prudemment évalué les exigences du régime des principales incidences négatives prévu à
l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire
soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences
négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en
Bourse ou de gré à gré suivants, à des fins d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur taux d’intérêt (y compris à court terme) Contrats à terme standardisés sur Obligations d’État Contrats à terme standardisés sur obligations |
| --- | --- |

| Options | Options sur devises (y compris options à barrière) Options sur contrats à terme standardisés de taux d’intérêt Options sur actions Options sur obligations Options sur contrats à terme standardisés d’obligations Options sur taux d’intérêt Options sur swaps de défaut de crédit Options sur indices de volatilité Options sur indices |
| --- | --- |
| Contrats à terme | Contrats de change à terme |
| Swaps | Swaps de défaut de crédit (« CDS ») (sur valeur individuelle, indice) Swaps de taux d’intérêt Swaps de devises Swaps de rendement total (sur valeur individuelle, indice et panier [dans ce dernier cas, dont les composantes sous-jacentes peuvent être groupées par secteur, territoire ou d’autres caractéristiques]) |
| Titres avec IFD intégrés/effet de levier | Obligations convertibles Titres convertibles conditionnels (CoCo) Obligations avec remboursement anticipé à l’option du détenteur (puttable) ou de l’émetteur (callable) Titres adossés à des actifs (ABS) et Titres adossés à des créances hypothécaires (MBS) |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices financiers suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne
peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | Markit CDX North American High Yield Index Markit CDX North American Investment Grade Index |
| Indices de swaps de rendement total (« TRS») utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficiente qu’avec l’achat de titres physiques. | Markit iBoxx USD Liquid High Yield Index |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Les
indices financiers restants seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages,
les coûts associés ou la pondération des actions de l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.

##### Positions longues et courtes
Le Compartiment peut construire des expositions synthétiques longues et synthétiques courtes dans
chacune des classes d’actifs référencées dans la Politique d’investissement pour atteindre son objectif d’investissement. L’exposition longue nette totale (après prise en compte de la couverture) par le biais d’IFD ne
devrait pas dépasser 100 % de la Valeur liquidative du Compartiment et l’exposition nette courte totale ne devrait pas dépasser non plus 100 % de la Valeur liquidative du Compartiment (en utilisant l’approche par les engagements).

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 100 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des OFT, c’est à
dire des accords de prêt de titres et des accords de
mise/prise en pension, comme décrit sous la rubrique
« Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et aux OFT correspondent respectivement à 15 % et 100 %
de sa Valeur liquidative. Il n’est toutefois pas prévu que
ces expositions respectives aux TRS et aux OFT excèdent 15 % et 25 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet de TRS et OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
Les Actions des catégories d’actions non lancées disponibles seront proposées durant une Période d’offre initiale, débutant à 9 h le 4 mai 2022 et s’achevant à 17 h
le 3 novembre 2022, à un prix d’offre initial par Action de 1 USD, 1 GBP, 1 EUR, 1 CHF, 10 HKD, 10 CNH ou 1 SGD
selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente de la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés trimestriellement, les
31 décembre, 31 mars, 30 juin et 30 septembre. En ce qui concerne les détenteurs d’Actions de distribution, les dividendes déclarés seront normalement versés au plus
tard le 11 février, le 11 mai, le 11 août et le 11 novembre,
respectivement. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à la rubrique « Gestion et administration de la
Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.
Les commissions et frais liés à la constitution et à l’organisation du Compartiment, y compris les honoraires des conseillers professionnels du Compartiment seront
pris en charge par le Compartiment. Ces commissions et frais sont estimés à un maximum de 35 000 € et seront pris en charge par le Compartiment et amortis sur une
période de 3 ans à partir de son lancement.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Sustainable Global Dynamic Bond Fund

### SUPPLÉMENT 45, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.
- Le Compartiment peut substantiellement investir dans des dépôts auprès d’établissements de crédit. Même si le Compartiment peut investir dans des instruments du marché monétaire et des dépôts en numéraire, les Actions dans le Compartiment ne sauraient constituer des dépôts et diffèrent des dépôts par nature en ceci que l’investissement n’est pas garanti et que sa valeur est susceptible de fluctuer. Les investissements dans le Compartiment impliquent certains risques d’investissement, dont la perte éventuelle du capital.


#### Gestionnaire de portefeuille
Newton Investment Management Limited

#### Gestionnaire de portefeuille délégué
Le Gestionnaire de portefeuille peut déléguer certaines ou la totalité de ses fonctions de gestion
d’investissement eu égard au présent Compartiment à
Newton Investment Management North America LLC (le
« Gestionnaire de portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique « Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Euro

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les
tableaux ci-après et se différencient par leur devise de référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| USD A (Cap.) | USD | 5 000 | 5 % | 1,25 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 1,25 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| EUR A (Cap.) | EUR | 5 000 | 5 % | 1,25 % | 0 % | EURIBOR à 1 mois + 2 % |

| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| --- | --- | --- | --- | --- | --- | --- |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 1,25 % | 0 % | EURIBOR à 1 mois + 2 % |
| Sterling A (Cap.) | GBP | 5 000 | 5 % | 1,25 % | 0 % | SONIA (composé à 30 jours) + 2 % |
| Sterling A (Dist.) | GBP | 5 000 | 5 % | 1,25 % | 0 % | SONIA (composé à 30 jours) + 2 % |
| CAD A (Cap.) | CAD | 5 000 | 5 % | 1,25 % | 0 % | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 2 % |
| CAD A (Dist.) | CAD | 5 000 | 5 % | 1,25 % | 0 % | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 2 % |
| AUD A (Cap.) | AUD | 5 000 | 5 % | 1,25 % | 0 % | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 2 % |
| AUD A (Dist.) | AUD | 5 000 | 5 % | 1,25 % | 0 % | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 2 % |
| HKD A (Cap.) | HKD | 50 000 | 5 % | 1,25 % | 0 % | HIBOR HKD à 1 mois + 2 % |
| HKD A (Dist.) | HKD | 50 000 | 5 % | 1,25 % | 0 % | HIBOR HKD à 1 mois + 2 % |
| CNH A (Cap.) | CNH | 50 000 | 5 % | 1,25 % | 0 % | HIBOR CNH à 1 mois + 2 % |
| CNH A (Dist.) | CNH | 50 000 | 5 % | 1,25 % | 0 % | HIBOR CNH à 1 mois + 2 % |
| SGD A (Cap.) | SGD | 5 000 | 5 % | 1,25 % | 0 % | SIBOR SGD à 1 mois + 2 % |
| SGD A (Dist.) | SGD | 5 000 | 5 % | 1,25 % | 0 % | SIBOR SGD à 1 mois + 2 % |
| USD H (Cap.) (couverte) | USD | 5 000 | 5 % | 1,25 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| USD H (Dist.) (couverte) | USD | 5 000 | 5 % | 1,25 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| GBP H (Cap.) (couverte) | GBP | 5 000 | 5 % | 1,25 % | 0 % | SONIA (composé à 30 jours) + 2 % |
| CHF H (Cap.) (couverte) | CHF | 5 000 | 5 % | 1,25 % | 0 % | SARON (composé à 30 jours) + 2 % |
| CAD H (Cap.) (couverte) | CAD | 5 000 | 5 % | 1,25 % | 0 % | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 2 % |
| CAD H (Dist.) (couverte) | CAD | 5 000 | 5 % | 1,25 % | 0 % | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 2 % |
| SGD H (Cap.) (couverte) | SGD | 5 000 | 5 % | 1,25 % | 0 % | SIBOR SGD à 1 mois + 2 % |
| SGD H (Dist.) (couverte) | SGD | 5 000 | 5 % | 1,25 % | 0 % | SIBOR SGD à 1 mois + 2 % |
| AUD H (Cap.) (couverte) | AUD | 5 000 | 5 % | 1,25 % | 0 % | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 2 % |
| AUD H (Dist.) (couverte) | AUD | 5 000 | 5 % | 1,25 % | 0 % | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 2 % |
| CNH H (Cap.) (couverte) | CNH | 50 000 | 5 % | 1,25 % | 0 % | HIBOR CNH à 1 mois + 2 % |
| CNH H (Dist.) (couverte) | CNH | 50 000 | 5 % | 1,25 % | 0 % | HIBOR CNH à 1 mois + 2 % |
| DKK H (Cap.) (couverte) | DKK | 50 000 | 5 % | 1,25 % | 0 % | LIBOR DKK à 1 mois + 2 % |
| NOK H (Cap.) (couverte) | NOK | 50 000 | 5 % | 1,25 % | 0 % | LIBOR NOK à 1 mois + 2 % |

| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| --- | --- | --- | --- | --- | --- | --- |
| SEK H (Cap.) (couverte) | SEK | 50 000 | 5 % | 1,25 % | 0 % | LIBOR SEK à 1 mois + 2 % |

| Actions « V » et Actions « V (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| Euro V (Cap.) | EUR | Comme convenu | 5 % | 0,18 % | 0 % | EURIBOR à 1 mois + 2 % |
| Euro V (Dist.) | EUR | Comme convenu | 5 % | 0,18 % | 0 % | EURIBOR à 1 mois + 2 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| USD G (Cap.) | USD | 5 000 | 5 % | 0,75 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 0,75 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 0,75 % | 0 % | EURIBOR à 1 mois + 2 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 0,75 % | 0 % | EURIBOR à 1 mois + 2 % |
| USD G (Cap.) (couverte) | USD | 5 000 | 5 % | 0,75 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| USD G (Dist.) (couverte) | USD | 5 000 | 5 % | 0,75 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| GBP G (Cap.) (couverte) | GBP | 5 000 | 5 % | 0,75 % | 0 % | SONIA (composé à 30 jours) + 2 % |
| CHF G (Cap.) (couverte) | CHF | 5 000 | 5 % | 0,75 % | 0 % | SARON (composé à 30 jours) + 2 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 0,75 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 0,75 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| Euro C (Cap.) | EUR | 5 000 000 | 5 % | 0,75 % | 0 % | EURIBOR à 1 mois + 2 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 0,75 % | 0 % | EURIBOR à 1 mois + 2 % |
| Sterling C (Dist.) | GBP | 5 000 000 | 5 % | 0,75 % | 0 % | SONIA (composé à 30 jours) + 2 % |
| Sterling C (Cap.) | GBP | 5 000 000 | 5 % | 0,75 % | 0 % | SONIA (composé à 30 jours) + 2 % |
| CHF I (Cap.) (couverte) | CHF | 5 000 000 | 5 % | 0,75 % | 0 % | SARON (composé à 30 jours) + 2 % |
| USD I (Cap.) (couverte) | USD | 5 000 000 | 5 % | 0,75 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| USD I (Dist.) (couverte) | USD | 5 000 000 | 5 % | 0,75 % | 0 % | SOFR (composé à 30 jours) + 2 % |

| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| --- | --- | --- | --- | --- | --- | --- |
| SGD I (Cap.) (couverte) | SGD | 5 000 000 | 5 % | 0,75 % | 0 % | SIBOR SGD à 1 mois + 2 % |
| SGD I (Dist.) (couverte) | SGD | 5 000 000 | 5 % | 0,75 % | 0 % | SIBOR SGD à 1 mois + 2 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,50 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,50 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,50 % | 0 % | EURIBOR à 1 mois + 2 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,50 % | 0 % | EURIBOR à 1 mois + 2 % |
| HKD W (Dist.) | HKD | 150 000 000 | 5 % | 0,50 % | 0 % | HIBOR HKD à 1 mois + 2 % |
| USD W (Cap.) (couverte) | USD | 15 000 000 | 5 % | 0,50 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| USD W (Dist.) (couverte) | USD | 15 000 000 | 5 % | 0,50 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,50 % | 0 % | SONIA (composé à 30 jours) + 2 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,50 % | 0 % | SONIA (composé à 30 jours) + 2 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,50 % | 0 % | SARON (composé à 30 jours) + 2 % |
| CAD W (Dist.) (couverte) | CAD | 15 000 000 | 5 % | 0,50 % | 0 % | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 2 % |
| SGD W (Cap.) (couverte) | SGD | 15 000 000 | 5 % | 0,50 % | 0 % | SIBOR SGD à 1 mois + 2 % |
| SGD W (Dist.) (couverte) | SGD | 15 000 000 | 5 % | 0,50 % | 0 % | SIBOR SGD à 1 mois + 2 % |
| AUD W (Dist.) (couverte) | AUD | 15 000 000 | 5 % | 0,50 % | 0 % | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 2 % |
| CNH W (Dist.) (couverte) | CNH | 150 000 000 | 5 % | 0,50 % | 0 % | HIBOR CNH à 1 mois + 2 % |
| DKK W (Cap.) (couverte) | DKK | 150 000 000 | 5 % | 0,50 % | 0 % | LIBOR DKK à 1 mois + 2 % |
| NOK W (Cap.) (couverte) | NOK | 150 000 000 | 5 % | 0,50 % | 0 % | LIBOR NOK à 1 mois + 2 % |
| SEK W (Cap.) (couverte) | SEK | 150 000 000 | 5 % | 0,50 % | 0 % | LIBOR SEK à 1 mois + 2 % |

| Actions « Z » et Actions « Z (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| USD Z (Cap.) (couverte) | USD | 200 000 000 | 5 % | 0,35 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| USD Z (Dist.) (couverte) | USD | 200 000 000 | 5 % | 0,35 % | 0 % | SOFR (composé à 30 jours) + 2 % |

| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| --- | --- | --- | --- | --- | --- | --- |
| Euro Z (Cap.) | EUR | 200 000 000 | 5 % | 0,35 % | 0 % | EURIBOR à 1 mois + 2 % |
| Euro Z (Dist.) | EUR | 200 000 000 | 5 % | 0,35 % | 0 % | EURIBOR à 1 mois + 2 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| USD E (Cap.) | USD | Comme convenu | 5 % | 0,30 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| USD E (Dist.) | USD | Comme convenu | 5 % | 0,30 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| Euro E (Dist.) | EUR | Comme convenu | 5 % | 0,30 % | 0 % | EURIBOR à 1 mois + 2 % |
| Euro E (Cap.) | EUR | Comme convenu | 5 % | 0,30 % | 0 % | EURIBOR à 1 mois + 2 % |
| USD E (Dist.) (couverte) | USD | Comme convenu | 5 % | 0,30 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| USD E (Cap.) (couverte) | USD | Comme convenu | 5 % | 0,30 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| CHF E (Dist.) (couverte) | CHF | Comme convenu | 5 % | 0,30 % | 0 % | SARON (composé à 30 jours) + 2 % |
| CHF E (Cap.) (couverte) | CHF | Comme convenu | 5 % | 0,30 % | 0 % | SARON (composé à 30 jours) + 2 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % | SOFR (composé à 30 jours) + 2 % |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % | EURIBOR à 1 mois + 2 % |
| Euro X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % | EURIBOR à 1 mois + 2 % |
| Sterling X (Cap.) | GBP | Aucun(e) | 0 % | 0 % | 0 % | SONIA (composé à 30 jours) + 2 % |
| CHF X (Cap.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % | SARON (composé à 30 jours) + 2 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment a pour objectif de maximiser le rendement total composé du revenu et de la croissance
du capital en investissant principalement (c’est-à-dire au
moins les trois quarts de sa Valeur liquidative) dans un portefeuille diversifié à l’échelle mondiale composé de titres de créance et apparentés d’entreprise ou d’État, qui présentent des attributs d’investissement intéressants et sont considérés comme durables.

##### Politique d’investissement
Le Compartiment investira au moins trois quarts de sa Valeur liquidative dans un portefeuille d’obligations à taux fixe ou variable d’émetteurs internationaux, de marchés émergents, souverains, d’États, d’agences supranationales, d’entreprises et de banques (y compris
les obligations hypothécaires et les obligations d’entreprises) et d’autres titres de créance et apparentés (tels que des débentures, des billets [y compris des
billets émis par des sociétés ou des entités souveraines,
à taux variable et fixe] ainsi que des titres adossés à des créances hypothécaires ou à d’autres types d’actifs, des certificats de dépôt et billets de trésorerie cotés ou
négociés sur des Marchés éligibles du monde entier, tel qu’indiqué dans la section « Utilisation d’IFD » ci-dessous (ci-après, les Titres de créance et apparentés »).
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des CoCo. Veuillez consulter la section
du Prospectus intitulée « Risque lié aux titres convertibles conditionnels (« CoCo ») pour plus de détails sur les risques associés aux CoCo.
Le Compartiment peut investir principalement dans des Titres de créance et apparentés d’entreprise et d’État de qualité inférieure à investment grade. Le Compartiment
n’investira pas dans des Titres de créance et apparentés dont la notation à la date d’achat est inférieure à B- (ou l’équivalent) ou, dans le cas de titres adossés à des actifs, de titres adossés à des créances hypothécaires et
autres placements liés au risque de crédit, de BBB- (ou l’équivalent) attribuée par une Agence de notation reconnue. Le Compartiment peut investir dans des Titres
de créance et apparentés non notés, à condition que le Gestionnaire de portefeuille les juge de qualité
équivalente, comme indiqué ci-dessus. En cas de divergence de notation (c’est-à-dire si différentes notations sont attribuées par deux agences de notation
ou plus), la plus basse des deux notations les plus élevées sera prise en considération. Si un Titre de créance ou apparenté détenu par le Compartiment est subséquemment dégradé en dessous des limites susmentionnées, le Gestionnaire de portefeuille pourra maintenir une exposition au titre en question, à concurrence maximale de 3 % de sa Valeur liquidative. Si la valeur totale de ces titres dépasse 3 % de la Valeur liquidative du Compartiment, tout titre ou instrument qui
n’a pas été revalorisé dans un délai de six mois sera
vendu. Les expositions découlant de participations sous- jacentes d’organismes de placement collectif (« OPC ») seront prises en compte dans l’application des restrictions énoncées dans le présent paragraphe.
Le Compartiment peut investir plus de 10 % et jusqu’à 35 % de sa Valeur liquidative dans des titres de créance
émis et/ou garantis par un même émetteur souverain (y compris son gouvernement et les autorités publiques ou locales), de qualité inférieure à investment grade (c.-à-d.
dotés d’une notation inférieure à BBB-, mais supérieure à
B- [ou son équivalent]), tel que déterminé par Agence de notation reconnue. Le Brésil, l’Indonésie et la Hongrie sont des exemples d’émetteurs souverains. Ces investissements sont basés sur l’appréciation professionnelle du Gestionnaire de portefeuille, dont les motifs d’investissement peuvent inclure des perspectives positives/favorables pour l’émetteur souverain, une possible amélioration de la notation et des variations
attendues de la valeur de ces investissements en raison des changements de notations. Veuillez noter que la notation des émetteurs souverains peut changer de temps à autre et que les émetteurs souverains susmentionnés servent uniquement de référence et peuvent changer en même temps que leur notation.
Aucune limite n’est fixée en ce qui concerne l’échéance maximale des Titres de créance et apparentés. Il n’existe aucune limite formelle à la duration du Compartiment.
Le Compartiment ne sera pas exposé aux Titres de créance et apparentés d’entreprises réalisant plus de 10 % de leur chiffre d’affaires grâce à la production et à la vente de tabac et ne participera pas aux activités de
prêt de titres.
Le Compartiment peut également investir dans des IFD, comme indiqué à la rubrique « Utilisation d’IFD » ci- dessous.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des organismes de placement collectif (« OPC »), y compris des fonds négociés en Bourse
(« ETF » à capital variable. Les investissements dans des OPC peuvent être utilisés à des fins de gestion de liquidité par le biais de placements dans des fonds monétaires ou pour obtenir une exposition à des Titres de créance et apparentés.
La notation de crédit minimum des Titres de créance et apparentés dans lesquels un OPC peut investir au
moment de l’achat est B- (ou son équivalent), ou, dans le
cas de titres adossés à des actifs, de titres adossés à des crédits hypothécaires et d’autres instruments liés à un risque de crédit, est BBB- (ou son équivalent), telle
qu’attribuée par une Agence de notation reconnue. En cas d’une divergence de notation, la plus basse des deux notations les plus élevées sera prise en considération. Le
Compartiment peut investir dans des ETF qui seront cotés sur des Marchés éligibles et lui donneront une exposition aux marchés obligataires.
Le Compartiment peut prendre des positions longues et
courtes pour couvrir afin de contrôler le risque ou exprimer un point de vue sur l’évolution future du marché. Les positions courtes seront principalement
utilisées à des fins de couverture.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des titres cotés ou négociés sur la Bourse de Moscou.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des Titres de créance et apparentés en
République populaire de Chine (« RPC ») négociés sur le marché obligataire interbancaire chinois (« CIBM ») via le programme Bond Connect (décrit plus en détail à
l’Annexe VI du Prospectus).
Le Compartiment peut détenir des niveaux élevés d’actifs liquides et quasi liquides dans certaines circonstances.
Veuillez vous référer à la section « Gestion de la liquidité et des garanties » pour obtenir des informations plus détaillées.
Bien que sa devise de référence soit l’euro, le Compartiment peut investir dans des actifs non libellés en euros. Ces actifs seront couverts en euro en utilisant
des IFD sur devises.

##### Gestion de la liquidité et des garanties
Le Compartiment peut également détenir des niveaux élevés d’actifs liquides et quasi liquides afin de fournir des garanties pour les contrats d’IFD et dans certaines
circonstances. De telles circonstances incluent, lorsque les conditions du marché requièrent l’adoption d’une stratégie d’investissement défensive, la détention de numéraire en dépôt en attente de réinvestissement, pour
faire face aux rachats et faciliter le paiement des frais.
Les actifs quasi liquides peuvent inclure des instruments du marché monétaire (tels que des obligations d’État à court terme, certificats de dépôt, billets de trésorerie et
dépôts à terme) et des dépôts bancaires. Il est prévu que les émetteurs et/ou garants de tous ces titres et
instruments auront une notation de crédit, au moment de l’achat, au moins égale à A1/P1 (ou son équivalent)
publiée par une Agence de notation reconnue, ou seront jugés être d’une qualité équivalente par le Gestionnaire de portefeuille.

##### Indice de référence
EURIBOR à 1 mois + 2 % par an (l’« Indice de référence monétaire »).
Le Compartiment utilise l’Indice de référence monétaire comme objectif de performance à atteindre ou dépasser sur une période de 5 ans, avant déduction des frais.
L’EURIBOR (Euro Interbank Offer Rate) est un taux de référence constitué à partir du taux d’intérêt moyen auquel les banques de la zone euro offrent des prêts à
court terme non garantis sur le marché interbancaire.
Le Compartiment est géré activement, ce qui signifie que le Gestionnaire de portefeuille a tout pouvoir pour
sélectionner les investissements sur la base de l’objectif et de la politique d’investissement.
L’Indice de référence est un indice de référence monétaire qui ne prend pas en compte les facteurs ESG et n’est pas utilisé pour déterminer le degré de conformité de ses composantes aux caractéristiques
environnementales ou sociales promues par le Compartiment.

##### Stratégie d’investissement
Le Compartiment est un portefeuille mondial de titres à revenu fixe dynamique et activement géré qui vise à générer des rendements positifs en investissant dans un portefeuille de Titres de créance et apparentés démontrant une capacité à générer des rendements
cohérents avec son objectif d’investissement et à
satisfaire les attentes en matière de critères
environnementaux, sociaux et de gouvernance (« ESG ») et de durabilité du Gestionnaire de portefeuille. Lorsque le Gestionnaire de portefeuille détermine si un émetteur applique des pratiques commerciales durables et répond
à ses critères ESG et de durabilité, il détermine si l’émetteur (i) applique de telles pratiques sur le plan économique (par exemple, la durabilité de sa stratégie,
de ses opérations et de son financement), et (ii) prend en compte, de manière appropriée, l’environnement économique, politique, de gouvernance et de réglementation dans lequel l’émetteur exerce ses activités, ce qui implique une évaluation des pratiques
environnementales, sociales et/ou de gouvernance de ce dernier.
Les critères du Gestionnaire de portefeuille incluent des éléments de filtrage négatif et positif ainsi que l’analyse ESG générale et au niveau des titres et, conformément à l’objectif et à la stratégie d’investissement du Compartiment, visent à :
–	identifier et éviter les émetteurs qui participent à des domaines d’activité spécifiques que le Gestionnaire de portefeuille juge nocifs du point de vue ESG, ou
qui ne suivent pas de bonnes pratiques de gouvernance. À titre d’exemple, le Gestionnaire de portefeuille peut estimer que les émetteurs ayant
une empreinte carbone importante ou les
gouvernements appliquant des politiques peu respectueuses des droits de l’homme ne sont pas éligibles à l’investissement. Cette mesure exclura également les sociétés qui enfreignent les Principes
du Pacte mondial des Nations Unies, notamment les principes relatifs aux droits de l’homme, au travail, à l’environnement et à la lutte contre la corruption.
–	identifier et investir dans des émetteurs qui cherchent de manière proactive à gérer les facteurs sociaux et environnementaux dans le but de générer des rendements durables. Cette mesure peut également inclure les émetteurs qui contribuent au développement de solutions qui aideront à résoudre les problèmes environnementaux et/ou sociaux, par
exemple l’utilisation plus efficace ou réduite des ressources naturelles ou l’accessibilité aux soins de santé.
Le Gestionnaire de portefeuille peut également investir dans des émetteurs privés lorsqu’il pense que ces derniers contribuent à promouvoir des pratiques
commerciales durables grâce à un engagement continu. Aucun investissement ne sera effectué dans une société réputée avoir des enjeux ESG importants inhérents à son activité économique ou commerciale, comme une société productrice de tabac, en raison des implications du tabagisme sur la santé.
Afin de déterminer si un émetteur répond à ses critères ESG et de durabilité, le Gestionnaire de portefeuille utilise une combinaison de données externes et internes, de recherches et de notations à la fois quantitatives et qualitatives.
Le Gestionnaire de portefeuille dépend des informations et des données de tiers (qui peuvent inclure des informations fournies par des services de recherche, des rapports, des résultats de filtrages, notations ou
d’analyses tels que produits par les fournisseurs d’indices et les consultants). Ces informations ou données peuvent s’avérer incomplètes, inexactes ou incohérentes.
Le Gestionnaire de portefeuille estime qu’aucune société, aucun marché et aucune économie ne peuvent être considérés isolément, chacun de ces éléments devant
être examiné dans un contexte global. Le Gestionnaire de portefeuille estime que les événements qui se produisent dans le monde influent sur tous les marchés financiers et
qu’un investissement réussi dans des titres de créance et
apparentés mondiaux exige donc une compréhension
approfondie du monde dans son ensemble. Le processus d’investissement du Gestionnaire de portefeuille comprend la comparaison croisée de classes d’actifs à
revenu fixe et de Titres de créance et apparentés dans un cadre global, combinant thèmes d’investissement, analyse fondamentale de l’émetteur et de l’émission, évaluation des titres et analyse des questions ESG. Le
Gestionnaire de portefeuille déterminera le montant à investir dans chaque classe d’actifs à revenu fixe, notamment la dette d’entreprise de qualité investment grade ou inférieure, la dette souveraine de qualité
investment grade et la dette souveraine de marchés émergents, en examinant des facteurs tels que la duration, la qualité du crédit, le pays et la devise des Titres de créance et apparentés. Dans le contexte des titres à revenu fixe, les facteurs ESG ont une influence sur la qualité, et donc la valeur, des Titres de créance et apparentés émis par des entreprises ou des entités souveraines.
Les différents thèmes cherchent à identifier les
principaux domaines de changement structurel dans le monde. Ils permettent de fournir un contexte à l’analyse des investissements et à la prise de décision et d’aider le
Gestionnaire de portefeuille à identifier les domaines
présentant des opportunités et des risques d’investissement potentiels. Certains des thèmes à long terme du Gestionnaire de portefeuille incluent, sans
toutefois s’y limiter, la « Dynamique de la population » (c’est-à-dire, l’impact du vieillissement de la population) et « L’importance de la terre » (c’est-à-dire, le développement de solutions de gestion de l’énergie propre et des déchets), l’« Intervention de l’État » (c’est- à-dire, l’incidence sur les prix des actifs de l’évolution
des politiques nationales et des politiques des banques centrales) et la « Révolution intelligente » (c’est-à-dire, la montée en puissance de l’intelligence artificielle et de l’automatisation). Les allocations sont effectuées à la discrétion du Gestionnaire de portefeuille et ne sont
soumises à aucune contrainte de région ou de type de revenu fixe. Néanmoins, tous les investissements doivent respecter les critères de durabilité établis par ce dernier.
Les titres d’émetteurs éventuellement identifiés comme participant à des domaines d’activité spécifiques que le Gestionnaire de portefeuille juge nocifs du point de vue
ESG, seront soumis à un examen plus approfondi avant d’être achetés ou détenus en portefeuille sur une base continue.
Dans certaines situations, le Gestionnaire de portefeuille pourra investir dans le titre d’une société identifiée comme étant impliquée dans des activités
potentiellement nocives. Cette situation peut se produire pour certaines sociétés dont les activités ou opérations,
généralement en raison d’un ensemble d’activités
commerciales exercées de longue date, peuvent avoir
enregistré de mauvais résultats environnementaux ou
sociaux par le passé, mais qui effectuent désormais de nouveaux investissements et s’adaptent positivement aux nouvelles exigences (par exemple, les sociétés du secteur de l’énergie qui se préparent à une transition vers un monde à plus faible émission de carbone). De même,
dans certains cas, les notations ESG retenues peuvent ne pas refléter entièrement les initiatives ESG positives sur lesquelles un émetteur est susceptible de travailler.
Les investissements du Compartiment doivent continuer
à répondre aux critères du Gestionnaire de portefeuille de manière continue après leur acquisition initiale, et le niveau de risque en matière de durabilité auquel un titre
peut être soumis continuera d’être évalué de la même manière qu’avant l’acquisition initiale.

##### Règlement sur la publication d’informations en matière de finance durable
Le Compartiment intègre le risque de durabilité dans ses décisions d’investissement et promeut des caractéristiques environnementales ou sociales et
investit dans des entreprises qui font état d’une bonne gouvernance au sens de l’Article 8 du règlement SFDR.
La prise en compte du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents, il évalue le risque qu’un événement ou une
condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Le Gestionnaire de portefeuille a accès à diverses
catégories de données ESG fournies par des fournisseurs tiers, qui permettent d’identifier les problèmes ESG potentiels auxquels un émetteur peut être confronté.
Cela inclut, entre autres, l’exposition à des activités
pouvant être considérées comme nocives pour l’environnement ou la société. Ces données, ainsi que celles obtenues par le Gestionnaire de portefeuille dans le cadre de sa propre recherche sur l’investissement responsable, constituent une part importante de la prise en compte et de l’évaluation du niveau de risque en matière de durabilité auquel un investissement peut être
soumis.
Cette évaluation est intégrée au processus de recherche au niveau des titres, qui repose sur une analyse
fondamentale des opportunités d’investissement
individuelles à travers un certain nombre de facteurs
différents, notamment :
- les caractéristiques financières ou économiques fondamentales ;
- l’évaluation ;
- le profil risque/rendement ; et
- les caractéristiques ESG de l’émetteur, y compris la compréhension de la manière dont ces considérations peuvent avoir un impact sur lesrendements économiques.

Le Gestionnaire de portefeuille tiendra compte des informations recueillies à partir de l’analyse fondamentale dans sa décision d’acquérir une participation dans une société émettrice ou de conserver
une position donnée.
Si le risque en matière de durabilité associé à un investissement particulier augmente au-delà d’un niveau jugé acceptable par le Gestionnaire de portefeuille, en prenant en compte l’objectif et la stratégie d’investissement du Compartiment, le Gestionnaire de
portefeuille envisagera de vendre ou de réduire l’exposition du Compartiment à l’investissement concerné, en tenant compte au mieux des intérêts des
Actionnaires du Compartiment.
Comme expliqué ci-dessus, l’évaluation et la gestion des risques de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours possible qu’un
Événement ESG ait une incidence négative importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences
négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations
en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les Critères d’examen technique (« CET » du Règlement sur la taxonomie de l’UE exigeront la disponibilité de plusieurs points de données spécifiques concernant
chaque investissement. À la date des présentes, le Gestionnaire ne dispose pas de données suffisamment fiables, opportunes et vérifiables pour pouvoir évaluer les
investissements du Compartiment à l’aide des TSC.
Par ailleurs, les normes techniques réglementaires du SFDR qui définissent la méthode de calcul de la part des produits financiers (tels que le portefeuille du
Compartiment) alignés sur le Règlement sur la taxonomie de l’UE ainsi que les modèles de communication des informations requises ne sont pas encore définitivement établis. À la date des présentes, le Gestionnaire n’est pas en mesure de fournir des données normalisées et comparables permettant d’évaluer l’alignement des investissements du Compartiment au sens du Règlement sur la taxonomie de l’UE.
Bien que certains investissements du Compartiment appartiennent à des activités économiques qui contribuent à un objectif environnemental et pourraient
faire l’objet d’une évaluation mesurée à l’aide des TSC, le Gestionnaire n’a pas actuellement la possibilité de décrire :
- la mesure dans laquelle les investissements du Compartiment sont réalisés dans des Activités économiques durables sur le plan environnemental ;
- la proportion, en pourcentage de la taille du portefeuille du Compartiment, d’investissements réalisés dans des Activités économiques durables surle plan environnemental ;
- les proportions respectives, en pourcentage de la taille du portefeuille du Compartiment, des investissements réalisés dans des Activités habilitantes et des Activités transitoires au sens duRèglement sur la taxonomie de l’UE ;Le Gestionnaire suit activement l’évolution de la situation et fournira, dès qu’il disposera de données suffisamment précises, fiables et vérifiables sur les investissements duCompartiment, les informations auxquelles il est fait référence ci-dessus. Le Prospectus et le Supplément correspondant seront alors actualisés en conséquence.


#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en
| Options | Options sur devises (y compris options de change) Options sur contrats à terme standardisés d’obligations d’État Options sur obligations Swaptions |
| --- | --- |
| Contrats à terme standar- disés | Contrats à terme standardisés sur devises et options sur contrats à terme standardisés sur devises Contrats à terme standardisés sur obligations d’État Contrats à terme standardisés sur le marché monétaire |

Bourse ou de gré à gré suivants, à des fins d’investissement :
| Swaps | Swaps de rendement total (titre individuel, crédit, indice et panier personnalisé) Swaps de défaut de crédit (titre individuel, indice et panier personnalisé) Swaps de taux d’intérêt |
| --- | --- |
| Contrats à terme | Contrats de change à terme |
| Titres avec IFD intégrés/effet de levier | Bons de souscription Obligations convertibles Titres convertibles conditionnels (CoCo) Titres adossés à des actifs (ABS) et Titres adossés à des créances hypothécaires (MBS) |
| Autres ins- truments | Contrats sur différence (« CFD ») |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne peut pas accéder
directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | Indice Markit iTraxx CDS Index |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Toutefois,
sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement
affecté par les rééquilibrages, les coûts associés ou la pondération des actions de l’indice financier qui ne respecterait pas les restrictions d’investissement fixées. Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus. Si le
Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

##### Positions longues et courtes
Le Compartiment peut construire des expositions
synthétiques longues et synthétiques courtes dans chacune des classes d’actifs référencées dans la Politique d’investissement pour atteindre son objectif d’investissement. L’exposition longue nette totale (après prise en compte de la couverture) par le biais d’IFD ne
devrait pas dépasser 100 % de la Valeur liquidative du Compartiment et l’exposition nette courte totale ne
devrait pas dépasser non plus 100 % de la Valeur liquidative du Compartiment (en utilisant l’approche par les engagements).
Exposition globale et effet de levier 
Méthodologie de calcul de l’exposition globale : VaR absolue
Limite de VaR absolue : le portefeuille du Compartiment ne dépassera pas 20 % de la Valeur liquidative (sur la
base d’une période de détention de 20 Jours ouvrables).
L’effet de levier brut devrait varier entre : 0 % et 1 000 % de la Valeur liquidative du Compartiment. L’effet de levier brut peut toutefois dépasser ce niveau cible à certains
moments.
Pour plus d’informations sur l’approche de la VaR absolue et l’Effet de levier brut, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de mise/ prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la
section du Prospectus intitulée « La Société – Gestion
efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Accords de prêt de titres
Ce Compartiment n’aura pas recours aux accords de prêt de titres et peut donc renoncer à tout rendement supplémentaire pouvant être généré par ces activités.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des OFT, c’est à
dire des accords de mise/prise en pension, comme décrit
sous la rubrique « Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et aux OFT correspondent respectivement à 100 % et 100 %
de sa Valeur liquidative. Toutefois, le Gestionnaire de portefeuille ne s’attend pas à ce que l’exposition du Compartiment aux TRS excède 30 % de sa Valeur liquidative, et 15 % pour les OFT. Les types d’actifs qui
feront l’objet de TRS et OFT seront les titres dont la nature est conforme à la politique d’investissement du
Compartiment.
De plus amples détails concernant les TRS et les OFT, notamment les garanties acceptables et la procédure
relative à la contrepartie, sont fournis aux rubriques du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties », « Annexe III – Recours à des accords de mise/prise en pension et accords de prêt de titres »,
« Gestion efficace de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 GBP, 1 EUR, 1 CAD, 1 AUD, 1 SGD,
1 CHF, 10 HKD, 10 CNH, 10 DKK, 10 NOK ou 10 SEK, selon
la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés trimestriellement, les
31 décembre, 31 mars, 30 juin et 30 septembre. En ce qui concerne les détenteurs d’Actions de distribution, les dividendes déclarés seront normalement versés au plus
tard le 11 février, le 11 mai, le 11 août et le 11 novembre, respectivement. De plus amples informations sont
disponibles à la section « La Société – Politique de
distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Blockchain Innovation Fund

### SUPPLÉMENT 46, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.
- La Valeur liquidative du Compartiment peut faire l’objet d’une volatilité élevée en raison de sa politique d’investissement.


#### Gestionnaire de portefeuille
Newton Investment Management North America LLC

#### Gestionnaire de portefeuille délégué
Le Gestionnaire d’investissement peut déléguer certaines ou la totalité de ses fonctions de gestion d’investissement eu égard au présent Compartiment à Newton Investment Management Limited (le
« Gestionnaire de portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique « Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée occasionnellement par les Administrateurs, à condition
que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale
et le niveau des commissions et frais prélevés. Les catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD A (Cap.) | USD | 5 000 | 5 % | 1,85 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 1,85 % | 0 % |
| EUR A (Cap.) | EUR | 5 000 | 5 % | 1,85 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 1,85 % | 0 % |
| Sterling A (Cap.) | GBP | 5 000 | 5 % | 1,85 % | 0 % |
| Sterling A (Dist.) | GBP | 5 000 | 5 % | 1,85 % | 0 % |
| Euro H (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,85 % | 0 % |
| Euro H (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,85 % | 0 % |
| Sterling H (Cap.) (couverte) | GBP | 5 000 | 5 % | 1,85 % | 0 % |
| Sterling H (Dist.) (couverte) | GBP | 5 000 | 5 % | 1,85 % | 0 % |

| Actions « B » et Actions « J (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro B (Cap.) | EUR | 10 000 | 5 % | 1,40 % | 0 % |
| Euro B (Dist.) | EUR | 10 000 | 5 % | 1,40 % | 0 % |
| USD B (Cap.) | USD | 10 000 | 5 % | 1,40 % | 0 % |
| USD B (Dist.) | USD | 10 000 | 5 % | 1,40 % | 0 % |
| SGD B (Cap.) | SGD | 10 000 | 5 % | 1,40 % | 0 % |
| SGD B (Dist.) | SGD | 10 000 | 5 % | 1,40 % | 0 % |
| HKD B (Cap.) | HKD | 100 000 | 5 % | 1,40 % | 0 % |
| HKD B (Dist.) | HKD | 100 000 | 5 % | 1,40 % | 0 % |
| Euro J (Cap.) (couverte) | EUR | 10 000 | 5 % | 1,40 % | 0 % |
| Euro J (Dist.) (couverte) | EUR | 10 000 | 5 % | 1,40 % | 0 % |
| SGD J (Cap.) (couverte) | SGD | 10 000 | 5 % | 1,40 % | 0 % |
| SGD J (Dist.) (couverte) | SGD | 10 000 | 5 % | 1,40 % | 0 % |
| AUD J (Cap.) (couverte) | AUD | 10 000 | 5 % | 1,40 % | 0 % |
| AUD J (Dist.) (couverte) | AUD | 10 000 | 5 % | 1,40 % | 0 % |
| CAD J (Cap.) (couverte) | CAD | 10 000 | 5 % | 1,40 % | 0 % |
| CAD J (Dist.) (couverte) | CAD | 10 000 | 5 % | 1,40 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 0,90 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 0,90 % | 0 % |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 0,90 % | 0 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 0,90 % | 0 % |
| CHF G (Cap.) | CHF | 5 000 | 5 % | 0,90 % | 0 % |
| CHF G (Dist.) | CHF | 5 000 | 5 % | 0,90 % | 0 % |
| Euro G (Dist.) (couverte) | EUR | 5 000 | 5 % | 0,90 % | 0 % |
| Euro G (Cap.) (couverte) | EUR | 5 000 | 5 % | 0,90 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro C (Cap.) | EUR | 5 000 000 | 5 % | 0,90 % | 0 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 0,90 % | 0 % |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 0,90 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 0,90 % | 0 % |
| SGD C (Cap.) | SGD | 5 000 000 | 5 % | 0,90 % | 0 % |
| SGD C (Dist.) | SGD | 5 000 000 | 5 % | 0,90 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 0,90 % | 0 % |
| Euro I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 0,90 % | 0 % |
| SGD I (Dist.) (couverte) | SGD | 5 000 000 | 5 % | 0,90 % | 0 % |
| SGD I (Cap.) (couverte) | SGD | 5 000 000 | 5 % | 0,90 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,70 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,70 % | 0 % |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,70 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,70 % | 0 % |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,70 % | 0 % |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,70 % | 0 % |
| CHF W (Cap.) | CHF | 15 000 000 | 5 % | 0,70 % | 0 % |
| CHF W (Dist.) | CHF | 15 000 000 | 5 % | 0,70 % | 0 % |
| SGD W (Cap.) | SGD | 15 000 000 | 5 % | 0,70 % | 0 % |
| SGD W (Dist.) | SGD | 15 000 000 | 5 % | 0,70 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,70 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,70 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,70 % | 0 % |
| CHF W (Dist.) (couverte) | CHF | 15 000 000 | 5 % | 0,70 % | 0 % |
| SGD W (Cap.) (couverte) | SGD | 15 000 000 | 5 % | 0,70 % | 0 % |
| SGD W (Dist.) (couverte) | SGD | 15 000 000 | 5 % | 0,70 % | 0 % |

| Actions « K » et Actions « K (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD K (Cap.) | USD | Comme convenu | 5 % | 1,40 % | 0 % |
| USD K (Dist.) | USD | Comme convenu | 5 % | 1,40 % | 0 % |
| Euro K (Cap.) | EUR | Comme convenu | 5 % | 1,40 % | 0 % |
| Euro K (Dist.) | EUR | Comme convenu | 5 % | 1,40 % | 0 % |
| CHF K (Cap.) | CHF | Comme convenu | 5 % | 1,40 % | 0 % |
| CHF K (Dist.) | CHF | Comme convenu | 5 % | 1,40 % | 0 % |
| Euro K (Cap.) (couverte) | EUR | Comme convenu | 5 % | 1,40 % | 0 % |
| Euro K (Dist.) (couverte) | EUR | Comme convenu | 5 % | 1,40 % | 0 % |
| CHF K (Cap.) (couverte) | CHF | Comme convenu | 5 % | 1,40 % | 0 % |
| CHF K (Dist.) (couverte) | CHF | Comme convenu | 5 % | 1,40 % | 0 % |
| Sterling K (Cap.) (couverte) | GBP | Comme convenu | 5 % | 1,40 % | 0 % |
| Sterling K (Dist.) (couverte) | GBP | Comme convenu | 5 % | 1,40 % | 0 % |
| SGD K (Cap.) (couverte) | SGD | Comme convenu | 5 % | 1,40 % | 0 % |
| SGD K (Dist.) (couverte) | SGD | Comme convenu | 5 % | 1,40 % | 0 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD E (Cap.) | USD | Comme convenu | 5 % | 0,50 % | 0 % |
| USD E (Dist.) | USD | Comme convenu | 5 % | 0,50 % | 0 % |
| Euro E (Cap.) | EUR | Comme convenu | 5 % | 0,50 % | 0 % |
| Euro E (Dist.) | EUR | Comme convenu | 5 % | 0,50 % | 0 % |
| CHF E (Cap.) | CHF | Comme convenu | 5 % | 0,50 % | 0 % |
| CHF E (Dist.) | CHF | Comme convenu | 5 % | 0,50 % | 0 % |
| SGD E (Cap.) | SGD | Comme convenu | 5 % | 0,50 % | 0 % |
| SGD E (Dist.) | SGD | Comme convenu | 5 % | 0,50 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Euro E (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,50 % | 0 % |
| Euro E (Dist.) (couverte) | EUR | Comme convenu | 5 % | 0,50 % | 0 % |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,50 % | 0 % |
| Sterling E (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,50 % | 0 % |
| SGD E (Cap.) (couverte) | SGD | Comme convenu | 5 % | 0,50 % | 0 % |
| SGD E (Dist.) (couverte) | SGD | Comme convenu | 5 % | 0,50 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à assurer l’appréciation du capital à long terme en investissant essentiellement dans des prestataires en services sur actifs numériques.

##### Politique d’investissement
Le Compartiment investit essentiellement (c’est-à-dire au moins 80 % de sa Valeur liquidative) dans des actions et titres apparentés, dont, entre autres, des actions
ordinaires et privilégiées, des droits de souscription d’actions, des bons de souscription, des certificats représentatifs de titres américains et des certificats
représentatifs de titres internationaux (collectivement, les « Certificats représentatifs de titres »), des sociétés
d’investissement immobilier cotées en Bourse (« REIT »)
et des IFD sur actions (« Actions et titres apparentés »),
dans des prestataires en services sur actifs numériques situées dans le monde entier.
Les prestataires en services sur actifs numériques sont des sociétés qui sont en mesure de bénéficier des revenus nouveaux ou existants et/ou des opportunités
d’économies de coûts qu’offrent la technologie de la
blockchain (également appelée la technologie des
registres distribués) ou des sociétés qui permettent d’appliquer la technologie de la blockchain (« Sociétés innovantes dans le domaine de la Blockchain »). La
technologie de la blockchain peut être plus simplement définie comme des équipements et logiciels
informatiques intégrés permettant aux sociétés de tenir à jour et d’échanger des données transactionnelles de manière autonome dans un format standardisé.
Le Compartiment peut investir librement, et donc de manière significatives, dans des Actions et titres apparentés de sociétés de petite et moyenne capitalisation.
Les investissements dans les REIT ne devront pas excéder 10 % de la Valeur liquidative du Compartiment, et ceux dans les bons de souscription 20 % de la Valeur liquidative du Compartiment.
Le Compartiment peut également investir jusqu’à 10 % de sa Valeur liquidative dans des OPC à capital variable, y
compris des fonds négociés en Bourse (« ETF ») et des fonds monétaires. Les OPC peuvent inclure un ou
plusieurs autres Compartiments de la Société ou d’autres
fonds conseillés par le Gestionnaire de portefeuille. Tout
investissement dans des fonds à capital fixe (y compris des EFT) constituant des valeurs mobilières sera effectué
conformément aux critères et aux limites d’investissement applicables aux valeurs mobilières, comme exposé au chapitre « La Société – Restrictions en matière d’investissement et d’emprunt » du Prospectus. Le Compartiment peut également détenir des actifs
liquides à titre accessoire, tels que des dépôts bancaires.
Le Compartiment peut acquérir une exposition aux matières premières par le biais d’une combinaison de titres cotés ou négociés sur des Marchés éligibles tels
que des Actions et titres apparentés et des OPC. Le Compartiment n’investira pas directement dans les matières premières.
À l’exception des investissements autorisés dans des valeurs mobilières non cotées, des instruments du marché monétaire approuvés et des OPC à capital
variable, les investissements du Compartiment doivent être cotés ou négociés sur des Marchés éligibles. Une
liste des Marchés éligibles est exposée à l’Annexe II du
Prospectus.
Le Compartiment peut investir tant sur les marchés développés que sur les marchés émergents. Alors qu’il est prévu que le Compartiment soit exposé de façon
significative aux marchés développés, celui-ci peut occasionnellement investir plus de 40 % de sa Valeur liquidative dans des pays émergents, en fonction du développement du secteur du marché de la technologie
de la blockchain. Ces pays émergents sont susceptibles d’inclure, sans toutefois s’y limiter, le Brésil, la Russie, la Chine, l’Inde et le Mexique. Le Compartiment peut acquérir une exposition à la Chine moyennant l’achat d’actions chinoises de catégorie H cotées ou négociées à la Bourse de Hongkong, d’actions chinoises de catégorie
B cotées ou négociées à la Bourse de Shanghai ou de Shenzhen ou d’actions chinoises de catégorie A par le biais du Stock Connect, ou encore par le biais de
Certificats représentatifs de titres. Le Compartiment peut investir jusqu’à 20 % de sa Valeur liquidative dans des actions chinoises de classe A par le biais du Stock
Connect. Le programme Stock Connect est présenté plus en détail dans l’Annexe V du Prospectus. Le Compartiment peut acquérir une exposition en Inde de
manière directe ou par le biais de Certificats
représentatifs de titres. Le Compartiment peut investir jusqu’à 20 % de sa Valeur liquidative dans des titres cotés ou négociés sur la Bourse de Moscou.
Bien que sa devise de référence soit l’USD, le Compartiment peut investir dans des actifs non libellés en USD. Ces actifs ne seront généralement pas couverts
en USD. Par conséquent, la performance du Compartiment peut être très sensible aux mouvements des taux de change.
Cependant, le Compartiment peut de temps à autre utiliser des IFD pour conclure des opérations de change
croisées visant à couvrir tout ou partie de l’exposition aux
devises dans sa Devise de référence. Les IFD sont décrits
plus en détail dans la section du Prospectus intitulée
« Techniques et instruments financiers dérivés ».
Le Compartiment n’a pas l’intention d’initier des positions courtes, mais il investira toutefois dans des IFD sur actions et autres.

##### Indice de référence
L’indice MSCI AC World NR Index (l’« Indice de référence »).
L’Indice de référence est un indicateur exhaustif des performances du marché d’actions mondial, qui intègre des fortes et moyennes capitalisations représentatives
des marchés développés et des marchés émergents. Avec plus de 2 000 composantes, il couvre approximativement
85 % des possibilités d’investissement en actions sur la scène mondiale. L’indice de référence applique une approche exhaustive et cohérente qui permet d’avoir un aperçu global très pertinent et d’établir des
comparaisons entre régions de toutes les tailles de
capitalisation boursière, de tous les segments et combinaisons sectorielles et de style. Cette méthodologie
vise à couvrir de manière exhaustive l’ensemble des opportunités en mettant fortement l’accent sur la liquidité, l’investissabilité et la réplicabilité de l’indice. L’Indice de référence est rééquilibré tous les trimestres afin de refléter l’évolution des marchés d’actions sous-
jacents, tout en limitant toute rotation injustifiée.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour investir en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement.
Bien que les avoirs du Compartiment puissent inclure des composantes de l’Indice de référence, la sélection des placements et leurs pondérations dans le portefeuille ne sont pas influencées par celles de l’Indice de référence.
La stratégie d’investissement ne restreint pas la mesure
dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.

##### Stratégie d’investissement
Identifier l’univers d’investissement
Le Gestionnaire de portefeuille investit dans des Actions et titres apparentés dans le but d’obtenir une exposition aux sociétés innovantes dans le domaine de la Blockchain et comprises dans l’univers d’investissement.
L’univers d’investissement est développé et tenu à jour
par le Gestionnaire de portefeuille qui recherche et
évalue les sociétés innovantes dans le domaine de la Blockchain. Le Gestionnaire de portefeuille s’appuie sur un univers d’investissement à l’échelle mondiale, quel(le) que soit le secteur ou la capitalisation boursière, en
utilisant une combinaison de ressources internes (analystes du secteur de la recherche fondamentale mondiale, équipes de gestion de portefeuille et membres
de l’équipe chargée de la gestion quantitative), mais
également de ressources externes comme les rencontres
professionnelles et les études sectorielles.
Cette univers regroupe les secteurs de la technologie de l’information, de la finance, des services publics, des biens de consommation de base, de l’industrie, de la
santé, des produits de consommation discrétionnaire, des services de communication et de l’immobilier, lesquels englobent à leur tour des sous-secteurs/catégories. Les
sociétés appartenant à ces secteurs peuvent utiliser la technologie de la blockchain et/ou des contrats
intelligents pour gérer la chaîne d’approvisionnement,
accélérer les transactions et réduire les coûts. Du fait du caractère extensif de l’application de la technologie des registres distribués et de l’ampleur des composantes impliquées dans chaque mise en œuvre individuelle, le Compartiment peut investir dans tout un ensemble
évolutif de secteurs. Ces secteurs incluent, entre autres,
ceux dont les sociétés sont exposées au suivi et à la traçabilité ainsi qu’à l’optimisation de la chaîne d’approvisionnement mondiale (p. ex., le fret aérien et la logistique, le transport maritime, le camionnage, les
aliments et viandes emballés, les supermarchés, les restaurants, les produits d’hygiène personnelle), au marché financier mondial (p. ex., les échanges financiers, les sociétés de gestion d’actifs, les banques dépositaires, les assureurs généralistes) et à la digitalisation de la
santé (p. ex., les services de santé, la gestion des soins de santé). Les secteurs de la technologie de l’information (logiciels d’application, production de semi-conducteurs,
fourniture de services Internet et infrastructures liées à la technologie de l’information) peuvent offrir leur technologie de la blockchain en tant que service
supplémentaire et en tirer certains bénéfices. Le Compartiment peut également chercher à obtenir une exposition aux matières premières en investissant dans
des indices financiers. Cet ensemble très varié d’opportunités devrait permettre à l’univers de se développer encore davantage, afin d’intégrer un ensemble de secteurs toujours plus vaste.
Sélection d’investissements
Le Gestionnaire de portefeuille sélectionne des investissements issus de l’univers d’investissement en ayant recours à des modèles exclusifs pour évaluer les
entreprises par rapport aux attentes du marché, et à une
analyse fondamentale pour évaluer la capacité et la volonté d’une société à conserver et, idéalement, à accroître sa valeur. Cette analyse fondamentale comprend l’évaluation des éléments suivants : solidité du bilan, paysage concurrentiel, valorisation des cours, liquidité et analyse du contexte réglementaire. L’analyse
est effectuée par un groupe d’analystes expérimentés dans le domaine de la recherche d’actions.
Les investissements sont ensuite classés en utilisant un
système qui note sur le plan qualitatif la mesure dans laquelle l’investissement est susceptible de bénéficier des revenus nouveaux ou existants et/ou des opportunités d’économies de coûts offerts par la technologie des registres distribués. Le système note les investissements potentiels, afin de montrer s’il est prévu que la société considérée soit exposée à la technologie
blockchain dans le futur (exposition prévue), si elle cherche actuellement à s’exposer à la technologie de la blockchain (exposition modérée) ou si elle est
actuellement exposée à la technologie de la blockchain (exposition élevée). Le Gestionnaire de portefeuille
cherche à construire un portefeuille mettant l’accent sur
des sociétés présentant une exposition élevée, tout en
investissant également dans des sociétés présentant une exposition modérée et une exposition prévue.
Critères de vente
Le Gestionnaire de portefeuille contrôle régulièrement la
performance de chaque investissement. Ces analyses comprennent une évaluation de la performance d’un investissement par rapport à son groupe de pairs au sein de l’univers d’investissement. Le Gestionnaire de portefeuille envisage de vendre des titres dont le
potentiel de croissance est limité ou inexistant, dont la
valeur devrait diminuer ou lorsque des opportunités d’investissement plus prometteuses sont disponibles.

##### Règlement sur la publication d’informations en matière de finance durable
La gestion du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents, il évalue le risque qu’un événement ou une
condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Le Gestionnaire de portefeuille utilise la recherche fondamentale renforcée par l’analyse de données quantitatives afin d’évaluer les facteurs environnementaux, sociaux et de gouvernance de chaque
investissement et de déterminer les risques potentiels en
matière de durabilité. Ces facteurs peuvent inclure, entre autres, l’impact d’un émetteur sur l’environnement, y compris les émissions, l’utilisation des sols et les pratiques en matière de déchets, ainsi que les politiques
et pratiques sociales, dont les questions relatives aux employés, les pratiques de gestion de la chaîne
d’approvisionnement et les politiques relatives aux droits de l’homme. Le Gestionnaire de portefeuille identifie et intègre dans son processus de décision d’investissement
les considérations qui influenceront le comportement d’un émetteur ou auront un impact sur les environnements économique, réglementaire, politique,
social ou physique dans lesquels il opère. Le Gestionnaire de portefeuille tire parti de l’analyse fondamentale et des données quantitatives pour obtenir un score ESG obtenu en interne afin d’améliorer la gestion des facteurs de durabilité au sein du Compartiment. Le Gestionnaire de portefeuille effectue une recherche en interne qu’il complète par des informations de tiers, notamment les
données et notations ESG de MSCI, les données ESG de Bloomberg, le Guide d’engagement du Sustainability Accounting Standards Board (SASB), les études sell-side
et les événements relatifs au secteur concerné. Il en résulte un processus de décision d’investissement qui vise à minimiser l’exposition du Compartiment aux sociétés encore à la traîne sur les critères
environnementaux, sociaux et de gouvernance, tout en tenant compte des risques résiduels en matière de durabilité associés aux investissements.
Le Gestionnaire de portefeuille évalue également les pratiques de gouvernance des émetteurs par le biais
d’une recherche fondamentale, complétée par des
évaluations et notations établies en interne ou par des
tiers, notamment en ce qui concerne de saines structures de direction, les relations avec les employés, la rémunération du personnel et la conformité en matière
de fiscalité.
Le Gestionnaire de portefeuille contrôle régulièrement les facteurs de durabilité et les expositions au risque en examinant les rapports de notation ESG de tiers et ceux établis en interne par son équipe.
Comme expliqué ci-dessus, la gestion et l’évaluation des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours possible qu’un Événement ESG ait une incidence négative
importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences
négatives des décisions d’investissement sur les facteurs
de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du
régime en matière de reporting. Le Gestionnaire continue d’analyser les données disponibles qui seraient nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins
d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur indices boursiers Contrats à terme standardisés sur indices de matières premières |
| --- | --- |
| Options | Options à faible prix d’exercice (LEPO) et Bons de souscription à faible prix d’exercice (LEPW) |
| Contrats à terme | Contrats de change à terme |
| Titres avec IFD intégrés/effet de levier | Bons de souscription Droits de souscription d’actions |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à un éventail d’indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices financiers suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne
peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de matières premières qui permettent au Compartiment, qui ne souhaite pas investir directement dans les matières premières, d’acquérir une exposition à certains segments tel que l’énergie et les métaux industriels. | Bloomberg Commodity Index S&P GSCI Index |
| Indices d’actions pour offrir une exposition aux marchés d’actions régionaux et mondiaux de manière plus rentable ou plus efficace que par l’achat de titres physiques. | Indice MSCI AC World NR Index |

Ces indices financiers seront rééquilibrés régulièrement. Toutefois, le Compartiment n’ayant pas pour objectif de répliquer ou de suivre ces indices, il ne sera pas
directement impacté par le rééquilibrage, les coûts associés ou toute pondération en actions des indices qui
ne respecterait pas les restrictions d’investissement
fixées.
Des détails sur comment se procurer des informations
supplémentaires sur les indices financiers mentionnés ci- dessus sont fournis dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

#### Enregistrement en Allemagne
Ce Compartiment est enregistré à la vente en Allemagne. Le Compartiment est classé en tant que Fonds
d’investissement aux fins de l’impôt allemand et, à ce
titre, il investira en permanence plus de 50 % de ses actifs en actions au sens de l’Article 2, paragraphe 8 de la Loi allemande sur la fiscalité des investissements.

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 100 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés,
options, swaps, contrats sur différence, titres avec IFD intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la
contrepartie sont fournis aux rubriques du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra
automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment sur le site Internet www.bnymellonim.com.
Les Actions des catégories d’actions non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 EUR, 1 USD, 1 GBP, 1 CHF ou
1 SGD selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés le 31 décembre de chaque année.
Concernant les détenteurs d’Actions de distribution, les
dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Absolute Return Global Convertible Fund

### SUPPLÉMENT 47, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment investira principalement dans des IFD et utilisera ces IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci-après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- La Valeur liquidative du Compartiment peut faire l’objet d’une volatilité élevée en raison de sa politique d’investissement.
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.
- Le Compartiment peut substantiellement investir dans des dépôts auprès d’établissements de crédit. Même si le Compartiment peut investir dans des instruments du marché monétaire et des dépôts en numéraire, les Actions dans le Compartiment ne sauraient constituer des dépôts et diffèrent des dépôts par nature en ceci que l’investissement n’est pas garanti et que sa valeur est susceptible de fluctuer. Les investissements dans le Compartiment impliquent certains risques d’investissement, dont la perte éventuelle du capital.


#### Gestionnaire de portefeuille
Insight Investment Management (Global) Limited
Le Gestionnaire de portefeuille peut déléguer ses fonctions de gestion à un Gestionnaire de portefeuille délégué et/ou désigner un conseiller en investissement délégué pour assurer un service de conseil en investissement conformément aux exigences de la Banque centrale. À la date du présent Supplément, le Gestionnaire de portefeuille a désigné le Gestionnaire de portefeuille délégué indiqué ci-dessous.

#### Gestionnaire de portefeuille délégué
Le Gestionnaire de portefeuille peut déléguer certaines ou la totalité de ses fonctions de gestion
d’investissement eu égard au présent Compartiment à
Insight North America LLC (le « Gestionnaire de portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique
« Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Euro

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée occasionnellement par les Administrateurs, à condition
que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale
et le niveau des commissions et frais prélevés. Les catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « R » et Actions « R (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion annuelle de gestion | Commis- sion de rachat | Commission de per- formance | Indice de référence pour compa- raison de la performance | Taux de rendement minimal |
| Euro R (Cap.) | EUR | 5 000 | 5 % | 1,50 % | 0 % | 15 % | EURIBOR à 1 mois | EURIBOR à 1 mois |
| Euro R (Dist.) | EUR | 5 000 | 5 % | 1,50 % | 0 % | 15 % | EURIBOR à 1 mois | EURIBOR à 1 mois |
| Sterling R (Cap.) (couverte) | GBP | 5 000 | 5 % | 1,50 % | 0 % | 15 % | SONIA (composé à 30 jours) | SONIA (composé à 30 jours) + 0,04 % |
| Sterling R (Dist.) (couverte) | GBP | 5 000 | 5 % | 1,50 % | 0 % | 15 % | SONIA (composé à 30 jours) | SONIA (composé à 30 jours) + 0,04 % |
| USD R (Cap.) (couverte) | USD | 5 000 | 5 % | 1,50 % | 0 % | 15 % | SOFR (composé à 30 jours) | SOFR (composé à 30 jours) + 0,12 % |
| USD R (Dist.) (couverte) | USD | 5 000 | 5 % | 1,50 % | 0 % | 15 % | SOFR (composé à 30 jours) | SOFR (composé à 30 jours) + 0,12 % |
| CHF R (Cap.) (couverte) | CHF | 5 000 | 5 % | 1,50 % | 0 % | 15 % | SARON (composé à 30 jours) | SARON (composé à 30 jours) |
| JPY R (Cap.) (couverte) | JPY | 500 000 | 5 % | 1,50 % | 0 % | 15 % | TONAR (composé à 30 jours) | TONAR (composé à 30 jours) |

| Actions « D » et Actions « D (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion annuelle de gestion | Commis- sion de rachat | Commission de per- formance | Indice de référence pour compa- raison de la performance | Taux de rendement minimal |
| Euro D (Cap.) | EUR | 5 000 | 5 % | 1,00 % | 0 % | 15 % | EURIBOR à 1 mois | EURIBOR à 1 mois |
| Euro D (Dist.) | EUR | 5 000 | 5 % | 1,00 % | 0 % | 15 % | EURIBOR à 1 mois | EURIBOR à 1 mois |
| Sterling D (Cap.) (couverte) | GBP | 5 000 | 5 % | 1,00 % | 0 % | 15 % | SONIA (composé à 30 jours) | SONIA (composé à 30 jours) + 0,04 % |
| USD D (Cap.) (couvertes) | USD | 5 000 | 5 % | 1,00 % | 0 % | 15 % | SOFR (composé à 30 jours) | SOFR (composé à 30 jours) + 0,12 % |
| CHF D (Cap.) (couvertes) | CHF | 5 000 | 5 % | 1,00 % | 0 % | 15 % | SARON (composé à 30 jours) | SARON (composé à 30 jours) |
| JPY D (Cap.) (couvertes) | JPY | 500 000 | 5 % | 1,00 % | 0 % | 15 % | TONAR (composé à 30 jours) | TONAR (composé à 30 jours) |

| Actions « S » et Actions « T (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion annuelle de gestion | Commis- sion de rachat | Commission de per- formance | Indice de référence pour compa- raison de la performance | Taux de rendement minimal |
| Euro S (Cap.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % | 15 % | EURIBOR à 1 mois | EURIBOR à 1 mois |
| Euro S (Dist.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % | 15 % | EURIBOR à 1 mois | EURIBOR à 1 mois |
| Sterling T (Cap.) (couverte) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % | 15 % | SONIA (composé à 30 jours) | SONIA (composé à 30 jours) + 0,04 % |
| Sterling T (Dist.) (couverte) | GBP | 5 000 000 | 5 % | 1,00 % | 0 % | 15 % | SONIA (composé à 30 jours) | SONIA (composé à 30 jours) + 0,04 % |
| USD T (Cap.) (couverte) | USD | 5 000 000 | 5 % | 1,00 % | 0 % | 15 % | SOFR (composé à 30 jours) | SOFR (composé à 30 jours) + 0,12 % |
| CHF T (Cap.) (couverte) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % | 15 % | SARON (composé à 30 jours) | SARON (composé à 30 jours) |
| JPY T (Cap.) (couverte) | JPY | 500 000 000 | 5 % | 1,00 % | 0 % | 15 % | TONAR (composé à 30 jours) | TONAR (composé à 30 jours) |

| Actions « U » et Actions « U (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion annuelle de gestion | Commis- sion de rachat | Commission de per- formance | Indice de référence pour compa- raison de la performance | Taux de rendement minimal |
| Euro U (Cap.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % | 15 % | EURIBOR à 1 mois | EURIBOR à 1 mois |
| Euro U (Dist.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % | 15 % | EURIBOR à 1 mois | EURIBOR à 1 mois |
| Sterling U (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % | 15 % | SONIA (composé à 30 jours) | SONIA (composé à 30 jours) + 0,04 % |
| Sterling U (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % | 15 % | SONIA (composé à 30 jours) | SONIA (composé à 30 jours) + 0,04 % |
| USD U (Cap.) (couverte) | USD | 15 000 000 | 5 % | 0,75 % | 0 % | 15 % | SOFR (composé à 30 jours) | SOFR (composé à 30 jours) + 0,12 % |
| USD U (Dist.) (couverte) | USD | 15 000 000 | 5 % | 0,75 % | 0 % | 15 % | SOFR (composé à 30 jours) | SOFR (composé à 30 jours) + 0,12 % |
| CHF U (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % | 15 % | SARON (composé à 30 jours) | SARON (composé à 30 jours) |
| JPY U (Cap.) (couverte) | JPY | 1 500 000 000 | 5 % | 0,75 % | 0 % | 15 % | TONAR (composé à 30 jours) | TONAR (composé à 30 jours) |

| Actions « F » et Actions « F (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion annuelle de gestion | Commis- sion de rachat | Commission de per- formance | Indice de référence pour compa- raison de la performance | Taux de rendement minimal |
| Euro F (Cap.) | EUR | Comme convenu | 5 % | 0,35 % | 0 % | 15 % | EURIBOR à 1 mois | EURIBOR à 1 mois |
| Sterling F (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,35 % | 0 % | 15 % | SONIA (composé à 30 jours) | SONIA (composé à 30 jours) + 0,04 % |
| USD F (Cap.) (couverte) | USD | Comme convenu | 5 % | 0,35 % | 0 % | 15 % | SOFR (composé à 30 jours) | SOFR (composé à 30 jours) + 0,12 % |
| CHF F (Cap.) (couverte) | CHF | Comme convenu | 5 % | 0,35 % | 0 % | 15 % | SARON (composé à 30 jours) | SARON (composé à 30 jours) |
| JPY F (Cap.) (couverte) | JPY | Comme convenu | 5 % | 0,35 % | 0 % | 15 % | TONAR (composé à 30 jours) | TONAR (composé à 30 jours) |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis- sion de souscri- ption ini- tiale maxi- mum | Commis-sion annuelle de gestion | Commis- sion de rachat | Commission de per- formance | Indice de référence pour compa- raison de la performance | Taux de rendement minimal |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % | Aucun(e) | EURIBOR à 1 mois | Aucun(e) |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % | Aucun(e) | SONIA (composé à 30 jours) | Aucun(e) |
| USD X (Cap.) (couverte) | USD | Aucun(e) | 0 % | 0 % | 0 % | Aucun(e) | SOFR (composé à 30 jours) | Aucun(e) |
| CHF X (Cap.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % | Aucun(e) | SARON (composé à 30 jours) | Aucun(e) |
| JPY X (Cap.) (couverte) | JPY | Aucun(e) | 0 % | 0 % | 0 % | Aucun(e) | TONAR (composé à 30 jours) | Aucun(e) |


#### Commission de performance
Outre la commission annuelle de gestion, le Gestionnaire sera en droit de percevoir une commission de performance annuelle (la « Commission de
performance ») sous réserve des conditions énoncées ci- dessous. Le taux auquel la Commission de performance sera appliquée est indiqué dans le tableau ci-dessus. La Commission de performance réduit la valeur de votre investissement et le revenu que vous percevez à ce titre.
La Commission de performance relative à chaque catégorie d’actions concernée sera égale au pourcentage de la commission de performance (comme indiqué dans
le tableau ci-dessus) du Rendement de la catégorie d’actions (comme défini ci-dessous) au-delà du Taux de
rendement minimal (comme défini ci-dessous), sous réserve d’une « High Water Mark » (comme défini ci- dessous) 
1
.
La Commission de performance sera calculée sur une période de douze mois clôturée le 31 décembre (la
« Période de calcul »). La première Période de calcul s’entend de la période débutant le Jour ouvrable qui suit immédiatement la fin de la Période d’offre initiale et se terminant au 31 décembre de la même année.
Le « Rendement de la catégorie d’actions » est calculé chaque Jour d’évaluation et correspond à la différence exprimée en pourcentage entre la Valeur liquidative ajustée ce Jour d’évaluation et la Valeur liquidative ajustée le Jour d’évaluation précédent.
1 
Il est rappelé aux investisseurs que les Compartiments suivants de la Société appliquent une définition différente de la « High Water Mark » lors du calcul de la commission de performance pour les catégories d’actions appropriées : il s’agit des Compartiments BNY Mellon Absolute Return Equity et BNY Mellon Absolute Return Bond. De plus amples détails relatifs au calcul de la commission de performance appliquée à ces Compartiments figurent dans leurs Suppléments respectifs.
La « Valeur liquidative ajustée » est la Valeur liquidative de la catégorie d’actions concernée (qui comprend un cumul pour l’ensemble des commissions et frais, y compris la commission annuelle de gestion et les frais
d’exploitation et administratifs à la charge de la catégorie d’actions concernée, après ajustement selon les éventuelles distributions de dividendes), mais sans
déduction pour toute Commission de performance courue depuis le début de la Période de calcul.
Le « Taux de rendement minimal » est le taux défini dans
le tableau ci-dessus. Un taux de rendement minimal désigne donc le taux de rendement minimal qu’un fonds doit dépasser pour percevoir une commission de
performance.
Le « Taux de rendement minimal » est calculé chaque Jour d’évaluation et défini comme la plus élevée des deux valeurs suivantes : (i) le Taux de rendement minimal
(exprimé en pourcentage) ; ou (ii) zéro pour cent (0 %). Le
« Taux de rendement minimal » est indiqué dans le tableau ci-dessus et calculé sur une période de 365 jours
pour le SONIA (composé à 30 jours) et une période de 360 jours pour l’EURIBOR à 1 mois, le SOFR (composé à 30 jours), le SARON (composé à 30 jours) et le TONAR
(composé à 30 jours).
La « High Water Mark » est définie comme la plus élevée des deux valeurs suivantes : (i) la plus haute Valeur liquidative ajustée par Action pour laquelle une Commission de performance a été payée le dernier jour de toute Période de calcul antérieure ; ou (ii) le prix
d’émission initial par Action de chaque catégorie.
Chaque Jour d’évaluation, une Valeur liquidative ajustée est calculée pour chaque catégorie d’actions à laquelle s’applique la Commission de performance. Si la Valeur liquidative ajustée de la catégorie d’actions concernée
excède la « High Water Mark » et le Rendement de la catégorie d’actions excède le Taux de rendement minimal, une Commission de performance est due.
L’utilisation d’une « High Water Mark » garantit à l’investisseur qu’aucune Commission de performance ne sera due tant que toute sous-performance antérieure de la catégorie d’actions n’aura pas été récupérée. En
conséquence, aucune Commission de performance ne
sera due à moins que la Valeur liquidative ajustée par Action à la fin de la Période de calcul (ou à la date du
rachat, dans le cas d’une fusion, sous réserve des exigences de la Banque centrale), la date d’expiration de la Convention de gestion de portefeuille ou toute autre date de liquidation ou de cessation d’activité éventuelle
de la Société ou du Compartiment) soit supérieure à la
« High Water Mark ». *Les Investisseurs doivent noter que
la sous-performance relative du Rendement de la catégorie d’actions par rapport au Taux de rendement minimal sur les Périodes de calcul antérieures ne sera
pas récupérée.
S’il est inférieur à zéro pour cent (0 %), le Taux de rendement minimal appliqué au moment de calculer une Commission de performance sera de zéro pour cent
(0 %). Cela signifie qu’aucune Commission de performance ne vous sera prélevée, sauf si le Rendement de la catégorie d’actions est supérieur à zéro pour cent (0 %) et que les Commissions de performance courues
sont limitées à la surperformance atteinte au-dessus de zéro pour cent (0 %). En d’autres termes, aucune commission de performance ne sera prélevée en périodes
de performances négatives.
Si le Rendement de la catégorie d’actions n’excède pas le Taux de rendement minimal, la Commission de
performance courue est réduite (mais ne peut pas être inférieure à zéro). La Commission de performance est
réduite d’un montant égal au pourcentage de la
commission de performance (comme défini dans le
tableau ci-dessus) de la sous-performance du Rendement de la catégorie d’actions par rapport au Taux de rendement minimal (le rendement négatif) multiplié
par les Actions émises. Si la Commission de performance cumulée est réduite à zéro, aucune nouvelle Commission de performance ne sera due tant que (i) le Rendement de
la catégorie d’actions cumulé n’excèdera pas le Taux de
rendement minimal cumulé depuis le début de la Période
de calcul et (ii) tant que la Valeur liquidative ajustée de la catégorie d’actions concernée n’excèdera pas la « High Water Mark ».
L’intégration de la Commission de performance dans la Valeur liquidative par Action chaque Jour d’évaluation dépend de l’acceptabilité des souscriptions, rachats, échanges ou transferts.
Sont incluses dans le calcul de la Commission de performance les plus et moins-values réalisées et latentes à la fin de la période concernée. Ainsi les Commissions de performance peuvent être payées sur des plus-values latentes qui peuvent ne jamais être réalisées.
Une performance positive peut être générée par des mouvements de marché ainsi qu’une gestion active de portefeuille ; ceci peut mener à des situations où une
partie de la Commission de performance est payée sur la base des variations de marché.
Le calcul de la Commission de performance ne peut aucunement être manipulé et doit être vérifié par le Dépositaire.
La Commission de performance est calculée et cumulée chaque Jour d’évaluation et entièrement versée à terme échu, eu égard à chaque Période de calcul. Toute
Commission de performance due sera généralement payée dans les 30 Jours ouvrables suivant la fin de chaque Période de calcul, la date de rachat, la date de
fusion (sous réserve des exigences de la Banque centrale), la date d’expiration de la Convention de gestion de portefeuille ou toute autre date de liquidation ou de cessation d’activité éventuelle de la Société ou du Compartiment.

##### Exemples pour comprendre le calcul de la commission de performance
Veuillez noter que le système de commission de performance ne permet pas de prélever de commissions de performance en cas de performance négative.
| Jour d’éva- luation | Valeur liqui- dative ajus- tée à la fin de la Période de calcul | High Water Mark | Taux de rendement minimal ex- primé en pence | Rendement excédentaire exprimé en pence* | Commission de per- formance** | Valeur liqui- dative à la fin de la Période de calcul | Exemple |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 31 décembre (premier exercice) | 105 p | 100 p | 102 p | 3 p | 0,45 p | 104,55 p | La performance s’est révélée positive sur la Période de calcul étant donné que la Valeur liquidative ajustée de 105 pences à la fin du premier exercice dépassait celle du prix d’émission initial de 100 pence. En outre, la Valeur liquidative ajustée excède la « High Water Mark » établie à 100 pence ET le Rendement excédentaire de 3 pence est positif. Par conséquent, une commission de performance de 0,45 p a été payée. |
| 31 décembre (deuxième exercice) | 95 p | 104,55 p | 106 p | 0 p | 0 p | 95 p | La performance s’est révélée négative sur la Période de calcul étant donné que la Valeur liquidative ajustée établie à 95 pence à la fin du deuxième exercice était inférieure à celle 104,55 pence relevée à la fin du premier exercice. Par conséquent, aucune commission de performance n’a été payée. |
| 31 décembre (troisième exercice) | 104 p | 104,55 p | 97 p | 0 p | 0 p | 104 p | La performance s’est avérée positive sur la Période de calcul étant donné que la Valeur liquidative ajustée de 104 pence à la fin du troisième exercice dépassait la Valeur liquidative de 95 pence relevée à la fin du deuxième exercice. Toutefois, la Valeur liquidative ajustée de 104 pence était inférieure à la « High Water Mark » établie à 104,55 pence, impliquant l’absence de Rendement excédentaire. Par conséquent, aucune commission de performance n’a été payée. |

| Jour d’éva- luation | Valeur liqui- dative ajus- tée à la fin de la Période de calcul | High Water Mark | Taux de rendement minimal ex- primé en pence | Rendement excédentaire exprimé en pence* | Commission de per- formance** | Valeur liqui- dative à la fin de la Période de calcul | Exemple |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 31 décembre (quatrième exercice) | 110 p | 104,55 p | 108 p | 2 p | 0,30 p | 109,7 p | La performance s’est avérée positive sur la Période de calcul étant donné que la Valeur liquidative ajustée de 110 pence à la fin du quatrième exercice dépassait la Valeur liquidative de 104 pence relevée à la fin du troisième exercice. En outre, la Valeur liquidative ajustée excède la « High Water Mark » établie à 104,55 pence ET le Rendement excédentaire de 2 pence est positif. Par conséquent, une commission de performance de 0,30 p a été payée. |

*Le Rendement excédentaire correspond à la surperformance du Rendement de la catégorie d’actions par rapport au Taux de rendement minimal lorsque la Valeur liquidative excède la « High Water Mark ».
** 15 % de Rendement excédentaire

#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à produire un rendement positif quelles que soient les conditions de marché, mais rien ne permet toutefois de garantir des rendements positifs.

##### Politique d’investissement
Le Compartiment vise à réaliser son objectif d’investissement sur une base mobile de 3 années consécutives, après déduction des frais.
Le Compartiment sera exposé directement, ou indirectement par le biais d’IFD, à des obligations convertibles (y compris les obligations à conversion obligatoire), des actions et titres apparentés, et d’autres titres de créance et apparentés (tels que définis ci-après)
sur du long et court terme.
Le Compartiment peut investir plus de 100 % de sa Valeur liquidative en obligations convertibles (y compris les obligations à conversion obligatoire).
Les actions et les titres apparentés dans lesquels le Compartiment est susceptible d’investir directement ou indirectement par le biais d’IFD incluent les actions, les bons de souscription, les actions privilégiées, les fonds
négociés en Bourse (« ETF »), les obligations négociées en Bourse (« ETN »), les certificats représentatifs de titres américains (« ADR »), les certificats représentatifs de titres internationaux (« GDR ») et les titres hybrides (tels que les obligations échangeables, les obligations perpétuelles, les obligations avec intérêts reportables, à savoir les obligations cumulatives et non cumulatives et les titres privilégiés de fiducie) (ci-après désignés
« Actions et titres apparentés »).
Les ETN peuvent être utilisés pour offrir une exposition aux indices financiers, y compris les indices de volatilité et les indices boursiers énumérés ci-dessous à la
rubrique « Indices financiers ». L’exposition principale aux actions du Compartiment se fera par la prise de
positions courtes sur des actions de sociétés par le biais d’obligations convertibles, de titres de créance et apparentés (tel que défini ci-après) ou d’Actions et titres apparentés. Une position longue sur actions se créent dès lors qu’une obligation convertible est convertie en
action.
Le Compartiment peut investir dans des titres de créance d’État à taux fixe et variable et titres apparentés (tels que des obligations à taux fixe, des obligations indexées
et des bons du Trésor à coupon zéro), des titres apparentés à des titres de créances de sociétés (tels que des billets à taux fixe et variable, des obligations
d’organismes publics, des obligations sécurisées, des obligations avec remboursement anticipé à l’option du détenteur (puttable) ou de l’émetteur (callable) ainsi que
des euro-obligations et des obligations Bullet), des
instruments du marché monétaire (tels que les certificats de dépôt, des billets de trésorerie et des dépôts à un jour) et des titres adossés à des actifs ou à des créances hypothécaires (ci-après désignés « titres de créance et apparentés »). Le Compartiment peut investir dans des
Titres de créance et apparentés, soit directement, soit indirectement par le biais d’IFD.
Il n’y aura pas de notation de crédit minimum appliquée aux investissements du Compartiment. Le Compartiment
peut investir dans des instruments de qualité investment grade ou inférieure à investment grade (c.-à-d. des instruments notés BBB- [ou équivalent] par une Agence de notation reconnue) et dans des instruments non notés. La majorité des obligations convertibles étant non notées, le Compartiment peut être exposé de manière significative à des instruments non notés pouvant être considérés comme équivalents aux instruments de qualité inférieure à investment grade. Le Compartiment peut également investir dans des dépôts en numéraire.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative globalement dans des organismes de
placement collectif (« OPC »), y compris les OPC qui fournissent une exposition à des obligations convertibles, des Titres de créance et apparentés, des Actions et titres apparentés et des fonds monétaires, des indices de
volatilité et d’autres OPCVM irlandais conseillés par le
Gestionnaire de portefeuille. Les OPC dans lesquels le
Compartiment peut investir incluent les ETF. Tout investissement dans des ETF sera conforme aux limites de placement dans des OPC. Le Compartiment peut également investir dans des OPC à capital fixe
conformément aux limites d’investissement applicables
aux valeurs mobilières, décrites à la rubrique « La Société - Restrictions en matière d’investissement et d’emprunt » du Prospectus.
Le Compartiment vise à investir dans le monde entier, sans industrie ou secteur de prédilection particulier ; cependant, il pourra parfois se concentrer sur des
régions géographiques ou des secteurs particuliers en fonction de l’opportunité d’investissement identifiée par le Gestionnaire de portefeuille.
Le Compartiment peut investir plus de 20 % de sa Valeur liquidative dans des pays émergents, notamment la
Russie, la Chine et l’Inde. Le Compartiment peut investir
dans des titres qui fournissent une exposition aux
émetteurs russes négociés sur un Marché éligible, mais peut également investir jusqu’à 10 % de sa Valeur liquidative dans des titres cotés ou négociés à la Bourse
de Moscou. Le Compartiment peut obtenir une exposition indirecte à la Chine et à l’Inde par le biais d’obligations convertibles pouvant être converties en actions, ADR ou
GDR. Aucune des obligations convertibles ou actions, aucun ADR/GDR ne seront détenus sur le marché local.
Avant d’acquérir une exposition directe à l’Inde, le
Gestionnaire de portefeuille mettra le Supplément à jour
en vue de fournir des informations sur les accords de délégation de dépositaires et de licences locales
concernés et s’assurera que ceux-ci soient mis en place.
Le Compartiment peut acquérir une exposition aux titres chinois moyennant l’achat d’actions chinoises de catégorie H cotées ou négociées à la Bourse de Hongkong, d’actions chinoises de catégorie B cotées ou négociées à la Bourse de Shanghai ou de Shenzhen ou d’actions chinoises de catégorie A par le biais du Stock
Connect. Le Compartiment peut investir jusqu’à 10 % de
sa Valeur liquidative dans des actions chinoises de classe
A par le biais du Stock Connect. Le programme Stock Connect est présenté plus en détail dans l’Annexe V du Prospectus.
À l’exception des investissements autorisés dans des titres non cotés et des OPC autres que des ETF, les investissements du Compartiment seront cotés ou
négociés sur les Marchés éligibles énumérés à l’Annexe II
du Prospectus.
Bien que la devise de référence du Compartiment soit l’EUR, le Compartiment peut investir dans des actifs non libellés en EUR, qui seront généralement couverts en EUR par le biais d’IFD sur devises. Les IFD sur devises qui peuvent être utilisés par le Compartiment à des fins de
couverture sont décrits plus en détail dans le Prospectus, dans la section intitulée « Techniques et instruments financiers dérivés ».

##### Gestion de la liquidité et des garanties
Le Compartiment détiendra des actifs liquides et quasi liquides dans certaines circonstances, telles que pour satisfaire aux demandes de rachat, faciliter le paiement des frais, conserver des liquidités en attente de
réinvestissement et fournir des garanties pour les contrats d’IFD.
En outre, dans certains cas, le Compartiment peut détenir des niveaux élevés d’actifs liquides et quasi liquides (c.-à-d. jusqu’à 100 % de sa Valeur liquidative), par exemple, en cas de volatilité extrême, de possibilité
de manquer son objectif de performance ou de conditions de marché requérant une stratégie d’investissement défensive.
Les actifs quasi liquides peuvent comporter des dépôts en numéraire et l’un quelconque des types de Titres de créance et apparentés à taux fixe et variable décrits ci- dessus lorsqu’il est prévu que les émetteurs et/ou garants de tous ces Titres de créance et apparentés et
dépôts bancaires auront une notation de crédit, au moment de l’achat, au moins égale à A1/P1 (ou son équivalent) publiée par une Agence de notation reconnue, ou seront jugés d’une qualité équivalente par le Gestionnaire de portefeuille.

##### Indice de référence
EURIBOR à 1 mois (l’« Indice de référence monétaire »).
L’EURIBOR (Euro Interbank Offer Rate) est un taux de référence constitué à partir du taux d’intérêt moyen auquel les banques de la zone euro offrent des prêts à
court terme non garantis sur le marché interbancaire.
Le Compartiment utilise l’Indice de référence monétaire comme élément de comparaison de sa performance sur une base mobile de 3 années consécutives, avant
déduction des frais.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour sélectionner les investissements sur la base de l’objectif et de la politique d’investissement.

##### Stratégie d’investissement
Le Compartiment cherche à générer des rendements en prenant majoritairement des positions longues de manière directe ou indirecte sur des obligations convertibles et des titres apparentés à des actions ou des positions courtes sur les titres correspondants. Le Compartiment peut chercher à détenir des positions courtes synthétiques dans des swaps de rendement
d’actions, swaps d’obligations (y compris les swaps d’obligations convertibles), swaps de défaut de crédit (« CDS », credit default swap), contrats à terme
standardisés sur obligations, swaps de rendement total, contrats sur différence et contrats de change à terme.
Le Compartiment cherchera à tirer parti des anomalies éventuelles au niveau des valorisations, c.-à-d. à identifier des investissements que le Gestionnaire de portefeuille juge surévalués ou sous-évalués. Ces évaluations peuvent être déterminées sur une base absolue (c.-à-d. la valeur dérivée en considérant le titre et son émetteur en tant que tels) ou sur une base relative (c.-à-d. la valeur comparée aux concurrents et au marché général).
Les opportunités de négociation basées sur la
valorisation absolue ou relative peuvent se produire en raison de plusieurs facteurs, y compris l’erreur d’appréciation de la volatilité (par ex., si le prix réel des titres diffère de la valorisation théorique), l’incertitude de marché (susceptible, par exemple, d’entraîner une
certaine volatilité et une erreur de valorisation similaire),
la valeur du crédit par rapport aux actions (à savoir, les différences de prix entre le crédit et l’action d’un même émetteur ou de sociétés au sein de la même industrie) et
les différences de valorisation entre les instruments correspondant à différentes parties de la structure de capital du même émetteur.
Le Gestionnaire de portefeuille constituera le portefeuille d’investissement en utilisant une combinaison d’approche ascendante et descendante pour déterminer si un titre
est surévalué ou sous-évalué. Le processus ascendant est basé sur l’analyse d’industries et de sociétés pour identifier de potentiels candidats à l’investissement à l’aide d’une modélisation quantitative combinée avec, l’analyse d’actions et du crédit (par ex. l’examen des
états financiers, comme les bilans et les comptes de résultat afin d’évaluer la solvabilité et les perspectives de bénéfices), le prix actuel et historique de titres similaires
et les rapports préparés par des fournisseurs indépendants.
Le processus descendant consiste à analyser les variations des actions, des crédits et des taux d’intérêt à l’échelle mondiale et leur effet attendu sur le portefeuille d’investissement. Les meilleurs candidats susceptibles d’être sélectionnés dans le Compartiment seront
identifiés.

##### Règlement sur la publication d’informations en matière de finance durable
Lorsque le Gestionnaire de portefeuille évalue le risque
en matière de durabilité associé aux investissements sous-jacents du Compartiment, il évalue le risque qu’un événement ou une condition ESG (« Événement ESG ») ait
une incidence négative importante sur la valeur de ces investissements sous-jacents. Les risques en matière de durabilité sont inclus dans le programme
d’investissement responsable du Gestionnaire de
portefeuille et sont gérés en veillant à ce que les décideurs de haut rang soient informés et à l’aide des procédures efficaces de responsabilisation, de transparence et d’application. Lorsque les questions de risque en matière de durabilité sont considérées comme importantes pour les résultats d’investissement, elles
sont intégrées aux processus d’étude préalable. Cette mesure peut inclure l’évaluation de titres individuels et/ ou l’interaction avec des émetteurs ou des acteurs du
marché. Les contrôles internes garantissent une
application permanente des critères de durabilité au Compartiment. Les restrictions ESG, qui comprennent des notations ESG attribuées en interne et des données externes fournies par des tiers, sont destinées à
empêcher ou permettre l’investissement dans des titres
qui répondent à des caractéristiques de durabilité. Ces
contrôles sont codés par rapport au Compartiment et mis à jour à mesure que de nouvelles informations sont reçues et intégrées.
La gouvernance d’entreprise est un facteur de risque clé en matière de durabilité et fait partie du processus de
notation des risques ESG interne appliqué à tous les émetteurs. L’évaluation de la gouvernance d’entreprise effectuée par le Gestionnaire de portefeuille comprend
l’évaluation des pratiques, du comportement, de la rémunération, du contrôle, de la responsabilité et de l’éthique du conseil d’administration ou des controverses le concernant. Le Gestionnaire de portefeuille utilise les
résultats des évaluations ESG, en plus de ses propres connaissances des structures de gouvernance des
émetteurs, pour fixer des priorités d’engagement avec
ces derniers. Le Gestionnaire de portefeuille examine ces
risques dans leur ensemble afin de décider si un investissement compense raisonnablement un fonds pour les risques en matière de durabilité encourus à long et court terme.
En termes de facteurs sociaux et environnementaux, la méthode de notation ESG interne du Gestionnaire de
portefeuille fournit des informations spécifiques au secteur et à l’émetteur sur des questions clés. Ce modèle aide le Gestionnaire de portefeuille à identifier les
risques clés auxquels un secteur ou un émetteur spécifique peut être confronté.
Le Compartiment peut générer des performances inférieures ou se comporter de manière différente par
rapport à d’autres fonds comparables qui n’intègrent pas
les risques en matière de durabilité dans leurs décisions d’investissement. Par ailleurs, il est toujours possible que sa valeur soit négativement affectée par un Événement
ESG.
Le Gestionnaire a prudemment évalué les exigences du régime des principales incidences négatives prévu à
l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire
soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences
négatives des décisions d’investissement sur les facteurs
de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du
régime en matière de reporting. Le Gestionnaire continue d’analyser les données disponibles qui seraient nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | Markit CDX North American High Yield Index Markit CDX North American Investment Grade Index Markit iTraxx Europe Main (Investment Grade) Index Markit iTraxx Europe Crossover (High Yield) Index Markit iTraxx Europe High Yield Index |
| Indices d’actions utilisés pour offrir une exposition aux marchés de titres régionaux et mondiaux de manière plus rentable ou plus efficace que par l’achat de titres physiques. | S&P 500 Index Nasdaq 100 Index Euro Stoxx 50 Index Euro Stoxx 600 Index Nikkei 225 Index FTSE 100 Index Hang Seng Index |
| Indices de swaps de rendement total (« TRS») utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficiente qu’avec l’achat de titres physiques. | Markit iBoxx USD Liquid High Yield Index |
| Indices de volatilité permettant de fournir une exposition à, ou exprimer le point de vue du Gestionnaire de portefeuille sur, la volatilité d’un marché ou d’une devise spécifique de manière plus rentable ou plus efficace que par l’achat de titres physiques. | Indice de volatilité CBOE (VIX) |


#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins
| Contrats à terme standar- disés | Contrats à terme standardisés sur actions Contrats à terme standardisés sur devises Contrats à terme standardisés sur taux d’intérêt (y compris à court terme) Contrats à terme standardisés sur obligations d’État Contrats à terme standardisés sur obligations Contrats à terme standardisés sur indices financiers |
| --- | --- |
| Options | Options sur devises (y compris options à barrière) Options sur contrats à terme standardisés de taux d’intérêt Options sur actions Options sur obligations Options sur contrats à terme standardisés d’obligations Options sur taux d’intérêt Options sur swaps de défaut de crédit Options sur indices de volatilité Options sur indices |
| Contrats à terme | Contrats de change à terme |
| Swaps | Swaps de défaut de crédit (« CDS ») (sur valeur individuelle et indice) Swaps de rendement d’actions (y compris sur valeur individuelle et swaps de portefeuille) Swaps d’obligations, dont les swaps d’obligations convertibles (y compris sur valeur individuelle et sur portefeuille) Swaps de taux d’intérêt Swaps d’actifs Swaps de rendement total, y compris les contrats sur différence (sur valeur individuelle, indice et panier [dans ce dernier cas, dont les composantes sous-jacentes peuvent être groupées par secteur, territoire ou d’autres caractéristiques]) |
| Titres avec IFD intégrés/effet de levier | Obligations convertibles Obligations avec remboursement anticipé à l’option du détenteur (puttable) ou de l’émetteur (callable) Certains titres adossés à des actifs (ABS) et certains titres adossés à des créances hypothécaires (MBS) Bons de souscription ETF (seuls les ETF synthétiques intégreront des IFD/levier financier, les ETF physiques n’intégreront pas d’IFD/de levier financier) ETN |

d’investissement :
De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne peut pas accéder
directement aux placements.
Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Les
indices financiers restants seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages, les coûts associés ou la pondération des actions de
l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

##### Positions longues et courtes
Le Compartiment peut construire des expositions
synthétiques longues et synthétiques courtes dans chacune des classes d’actifs référencées dans la Politique d’investissement pour atteindre son objectif d’investissement. L’exposition longue nette totale (après prise en compte de la couverture) par le biais d’IFD ne
devrait pas dépasser 500 % de la Valeur liquidative du Compartiment et l’exposition nette courte totale ne devrait pas dépasser non plus 500 % de la Valeur liquidative du Compartiment (en utilisant l’approche par les engagements).
Exposition globale et effet de levier 
Méthodologie de calcul de l’exposition globale : VaR absolue
Limite de VaR absolue : 6 % de la Valeur liquidative du Compartiment (sur la base d’une période de détention de 5 Jours ouvrables)
L’effet de levier brut devrait varier entre : 50 – 1000 % de la Valeur liquidative. L’effet de levier brut peut toutefois dépasser ce niveau cible à certains moments.
Pour plus d’informations sur l’approche de la VaR absolue et l’Effet de levier brut, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des OFT, c’est à
dire des accords de prêt de titres et des accords de
mise/prise en pension, comme décrit sous la rubrique
« Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et aux OFT correspondent respectivement à 500 % et 100 %
de sa Valeur liquidative. Il n’est toutefois pas prévu que
ces expositions respectives aux TRS et aux OFT excèdent 400 % et 30 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet de TRS et OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories d’actions non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 EUR, 1 GBP, 1 USD, 1 CHF ou
100 JPY selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront déclarés le 31 décembre de chaque année. Concernant
les détenteurs d’Actions de distribution, les dividendes
déclarés leur seront normalement versés au plus tard le
11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à la rubrique « Gestion et administration de la
Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.
Les commissions et frais liés à la constitution et à l’organisation du Compartiment, y compris les honoraires des conseillers professionnels du Compartiment seront
pris en charge par le Compartiment. Ces commissions et frais sont estimés à un maximum de 35 000 € et seront pris en charge par le Compartiment et amortis sur une
période de 3 ans à partir de son lancement.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Floating Rate Credit Fund

### SUPPLÉMENT 48, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Les commissions de gestion et autres frais du Compartiment seront imputés au capital du Compartiment en vue de maximiser les distributions.

Veuillez consulter la section « Commissions et
frais » dans le Prospectus pour plus d’informations.
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Alcentra Limited
Alcentra Limited (« Alcentra ») est une société d’investissement globale établie à Londres, 160 Queen Victoria Street, Londres EC4V 4LA, Royaume-Uni. Alcentra
est axée sur le crédit aux entreprises de qualité inférieure à investment grade en Europe et aux États- Unis. À travers plusieurs sociétés holdings, Alcentra Limited est une filiale de The Bank of New York Mellon Corporation et est réglementée par la Financial Conduct Authority (« FCA »).

#### Devise de référence
Euro

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les
tableaux ci-après et se différencient par leur devise de référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR A (Cap.) | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| USD H (Cap.) (couverte) | USD | 5 000 | 5 % | 1,50 % | 0 % |
| USD H (Dist.) (couverte) | USD | 5 000 | 5 % | 1,50 % | 0 % |
| CHF H (Cap.) (couverte) | CHF | 5 000 | 5 % | 1,50 % | 0 % |
| CAD H (Dist.) (couverte) | CAD | 5 000 | 5 % | 1,50 % | 0 % |
| SGD H (Dist.) (couverte) | SGD | 5 000 | 5 % | 1,50 % | 0 % |
| AUD H (Dist.) (couverte) | AUD | 5 000 | 5 % | 1,50 % | 0 % |
| SEK H (Cap.) (couverte) | SEK | 50 000 | 5 % | 1,50 % | 0 % |
| DKK H (Cap.) (couverte) | DKK | 50 000 | 5 % | 1,50 % | 0 % |
| NOK H (Cap.) (couverte) | NOK | 50 000 | 5 % | 1,50 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 0,65 % | 0 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 0,65 % | 0 % |
| USD G (Cap.) (couverte) | USD | 5 000 | 5 % | 0,65 % | 0 % |
| USD G (Dist.) (couverte) | USD | 5 000 | 5 % | 0,65 % | 0 % |
| Sterling G (Cap.) (couverte) | GBP | 5 000 | 5 % | 0,65 % | 0 % |
| Sterling G (Dist.) (couverte) | GBP | 5 000 | 5 % | 0,65 % | 0 % |
| CHF G (Cap.) (couverte) | CHF | 5 000 | 5 % | 0,65 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro C (Cap.) | EUR | 5 000 000 | 5 % | 0,65 % | 0 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 0,65 % | 0 % |
| USD I (Cap.) (couverte) | USD | 5 000 000 | 5 % | 0,65 % | 0 % |
| USD I (Dist.) (couverte) | USD | 5 000 000 | 5 % | 0,65 % | 0 % |
| CHF I (Cap.) (couverte) | CHF | 5 000 000 | 5 % | 0,65 % | 0 % |
| JPY I (Dist.) (couverte) | JPY | 500 000 000 | 5 % | 0,65 % | 0 % |
| JPY I (Cap.) (couverte) | JPY | 500 000 000 | 5 % | 0,65 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,50 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,50 % | 0 % |
| USD W (Cap.) (couverte) | USD | 15 000 000 | 5 % | 0,50 % | 0 % |
| USD W (Dist.) (couverte) | USD | 15 000 000 | 5 % | 0,50 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,50 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,50 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,50 % | 0 % |
| JPY W (Cap.) (couverte) | JPY | 1 500 000 000 | 5 % | 0,50 % | 0 % |
| JPY W (Dist.) (couverte) | JPY | 1 500 000 000 | 5 % | 0,50 % | 0 % |
| AUD W (Cap.) (couverte) | AUD | 15 000 000 | 5 % | 0,50 % | 0 % |
| AUD W (Dist.) (couverte) | AUD | 15 000 000 | 5 % | 0,50 % | 0 % |
| SGD W (Cap.) (couverte) | SGD | 15 000 000 | 5 % | 0,50 % | 0 % |
| CAD W (Dist.) (couverte) | CAD | 15 000 000 | 5 % | 0,50 % | 0 % |
| DKK W (Cap.) (couverte) | DKK | 150 000 000 | 5 % | 0,50 % | 0 % |
| NOK W (Cap.) (couverte) | NOK | 150 000 000 | 5 % | 0,50 % | 0 % |
| SEK W (Cap.) (couverte) | SEK | 150 000 000 | 5 % | 0,50 % | 0 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro E (Cap.) | EUR | Comme convenu | 5 % | 0,10 % | 0 % |
| Euro E (Dist.) | EUR | Comme convenu | 5 % | 0,10 % | 0 % |
| USD E (Cap.) (couverte) | USD | Comme convenu | 5 % | 0,10 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| USD E (Dist.) (couverte) | USD | Comme convenu | 5 % | 0,10 % | 0 % |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,10 % | 0 % |
| Sterling E (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,10 % | 0 % |
| CHF E (Cap.) (couverte) | CHF | Comme convenu | 5 % | 0,10 % | 0 % |
| DKK E (Cap.) (couverte) | DKK | Comme convenu | 5 % | 0,10 % | 0 % |
| NOK E (Cap.) (couverte) | NOK | Comme convenu | 5 % | 0,10 % | 0 % |
| SEK E (Cap.) (couverte) | SEK | Comme convenu | 5 % | 0,10 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Cap.) (couverte) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) (couverte) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Cap.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| JPY X (Dist.) (couverte) | JPY | Aucun(e) | 0 % | 0 % | 0 % |
| JPY X (Cap.) (couverte) | JPY | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à générer des rendements supérieurs à l’indice de référence spécifié ci-après sur une base mobile de 3 années consécutives, après
déduction des frais.

##### Politique d’investissement
Le Compartiment cherche à atteindre son objectif d’investissement en investissant en premier lieu (à savoir, au minimum 70 % de sa Valeur liquidative) dans un portefeuille d’actifs à taux variable incluant des billets à taux variable (« FRN »), des Obligations structurées
garanties par des prêts (« CLO ») et des prêts, ensemble dénommés les « Actifs à taux variable », qui peuvent être
émis en tant qu’obligations 144A ou Reg S. Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative en prêts, dont les prêts à effet de levier, les
participations à des prêts bancaires et les cessions de
prêts. Le Compartiment peut également investir dans d’autres titres de créance et apparentés (tels que définis ci-après). Les Actifs à taux variable et les titres de
créance et titres apparentés peuvent être détenus directement et indirectement par le biais d’IFD. Les FRN à haut rendement (assortis généralement d’une échéance
de cinq à huit ans) représentent une composante de plus en plus large de l’univers de crédit de qualité inférieure à investment grade (c’est-à-dire des instruments affichant une notation BBB- ou équivalente tel que déterminé par
Agence de notation reconnue) et sont principalement émis par des entreprises. Le Compartiment pourra
procéder à l’achat de tranches notées de AAA à B de CLO européennes et américaines (dès lors qu’elles sont
conformes à la réglementation européenne sur la rétention des risques). L’investissement sera axé sur les tranches A, BBB et BB de CLO.
Le Compartiment peut investir dans des titres de créance d’État et d’entreprise à taux fixe et variable et des titres de créance et apparentés comme des débentures, des
obligations (comme des obligations Toggle, des obligations PIK [payment in kind], des obligations du Trésor, des obligations avec remboursement anticipé à
l’option de l’émetteur [callable] [en ce compris les
obligations à taux progressif]), des billets (billets
payables à vue à taux variable), des débentures (comme
des obligations à haut rendement, des obligations d’entreprise à taux fixe et variable de qualité inférieure à investment grade et des obligations non sécurisées d’établissements financiers comme des obligations
subordonnées émises par des banques d’Amérique du
Nord et européennes), des obligations hybrides (comme
des obligations perpétuelles, des obligations à intérêts reportables, c’est-à-dire les obligations cumulatives ou non cumulatives et les titres privilégiés de fiducies), des
titres adossés à des actifs (« ABS ») et des instruments du marché monétaire (comme les bons du Trésor américain, les certificats de dépôt, les billets de trésorerie et les dépôts à terme), ci-après, les « Titres de
créance et apparentés ». Bien qu’en vertu de sa stratégie d’investissement, les obligations non sécurisées ne représentent pas une partie significative de ses placements, l Compartiment pourra investir jusqu’à 25 % de sa Valeur liquidative dans cette classe d’instruments.
Le Compartiment n’a pas l’intention d’initier des positions courtes.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans d’autres organismes de placement collectif (« OPC ») à capital variable, y compris des fonds
monétaires et des fonds négociés en Bourse (« ETF » à capital variable. Le Compartiment peut également détenir des actifs liquides à titre accessoire, tels que des dépôts bancaires.
Le Compartiment peut également détenir des niveaux élevés d’actifs liquides et quasi liquides dans certaines circonstances. Veuillez vous référer à la section « Gestion
de la liquidité et des garanties » pour obtenir des informations plus détaillées.
Il n’y aura pas de notation de crédit minimum appliquée aux investissements du Compartiment. Le Compartiment
peut investir dans des instruments de qualité investment grade ou inférieure ou bien non notés. En cas d’une divergence de notation, la notation la plus élevée sera
prise en considération. Le Compartiment ne sera pas limité par la qualité du crédit ou l’échéance lors de la prise des décisions d’investissement.
Le Compartiment vise à investir dans le monde entier, sans industrie ou secteur de prédilection particulier ; cependant, il pourra parfois se concentrer sur des
régions géographiques ou des secteurs particuliers en fonction de l’opportunité d’investissement identifiée par le Gestionnaire de portefeuille.
Le Compartiment peut investir jusqu’à 20 % de sa Valeur liquidative dans des pays émergents. Le Compartiment n’investira pas en Russie.
À l’exception des investissements autorisés dans des titres non cotés et des OPC à capital variable, les investissements du Compartiment seront cotés ou
négociés sur des Marchés éligibles listés dans l’Annexe II
du Prospectus.
Bien que sa devise de référence soit l’EUR, le Compartiment peut investir dans des actifs non libellés en euros qui seront couverts en EUR par le biais d’IFD sur devises. Les IFD sur devises qui peuvent être utilisés par
le Compartiment à des fins de couverture sont décrits plus en détail dans le Prospectus, dans la section intitulée « Techniques et instruments financiers dérivés ».

##### Gestion de la liquidité et des garanties
Le Compartiment détiendra des actifs liquides et quasi liquides dans certaines circonstances, telles que pour satisfaire aux demandes de rachat, faciliter le paiement des frais, conserver des liquidités en attente de
réinvestissement et fournir des garanties pour les contrats d’IFD. Dans des circonstances exceptionnelles, le Compartiment peut détenir temporairement des niveaux élevés de liquidités et d’actifs quasi liquides
(jusqu’à 100 % de sa Valeur liquidative), lorsque les conditions de marché requièrent l’adoption d’une stratégie d’investissement défensive (par exemple, un
krach boursier ou une crise majeure).
Les actifs quasi-liquides peuvent inclure des instruments du marché monétaire (comme indiqué ci-dessus) et des dépôts bancaires. Il est prévu que les émetteurs et/ou garants de tous ces titres et instruments auront une
notation de crédit, au moment de l’achat, au moins égale
à A1/P1 (ou son équivalent) publiée par une Agence de notation reconnue, ou seront jugés être d’une qualité équivalente par le Gestionnaire de portefeuille.

##### Indice de référence
EURIBOR à 1 mois (l’« Indice de référence monétaire »).
L’EURIBOR (Euro Interbank Offer Rate) est un taux de référence constitué à partir du taux d’intérêt moyen auquel les banques de la zone euro offrent des prêts à
court terme non garantis sur le marché interbancaire.
Le Compartiment utilise l’Indice de référence monétaire comme élément de comparaison de sa performance sur une base mobile de 3 années consécutives, avant
déduction des frais.
Le Compartiment est géré activement, ce qui signifie que le Gestionnaire de portefeuille a tout pouvoir pour
sélectionner les investissements sur la base de l’objectif et de la politique d’investissement.

##### Stratégie d’investissement
Le Compartiment investira principalement dans des actifs
à taux variable et cherchera à identifier les opportunités d’investissement qui conjuguent un rendement courant intéressant avec une forte probabilité de rendement de
capital ultime. Le Compartiment est conçu pour fournir un rendement, mais aussi une protection contre la
volatilité des taux d’intérêt en maintenant une duration
faible et en offrant une protection contre la perte de
capital.
Le processus du Gestionnaire de portefeuille repose à la fois sur une vision descendante à une approche ascendante. Le processus implique une recherche de crédit fondamentale et une analyse de marché
ascendantes dans le but d’identifier et d’exploiter les anomalies au sein des marchés d’instruments de financement à effet de levier. Le Gestionnaire de
portefeuille favorise les secteurs assortis de valorisations d’actifs intéressantes, ayant des environnements compétitifs stables et des barrières à l’entrée élevées. De plus, le Gestionnaire de portefeuille sélectionne les
émetteurs qui présentent selon lui un profil de crédit qualifié de « stable-à-progressant », une position concurrentielle solide, une certaine flexibilité financière et dont les actifs affichent une valorisation qualifiée de
« juste-à bon marché ». La valorisation est déterminée par une évaluation de l’actif par rapport à d’autres actifs au sein de la structure de capital de l’émetteur et par rapport à d’autres actifs du secteur et du marché.
Cette recherche de crédit fondamentale ascendante est rehaussée d’une approche descendante qui se compose de différentes mesures macro et de marché spécifiques,
qui incluent des perspectives économiques régionales, des perspectives sectorielles, l’orientation des taux d’intérêt et les perspectives de défaut.
Le processus d’investissement du Gestionnaire de portefeuille repose sur une étude préalable à la fois qualitative et quantitative, menée par une équipe
mondiale d’analystes aguerris et expérimentés qui cherchent à identifier les sources d’alpha (rendements excédentaires) au niveau du secteur, de l’émetteur et du
titre. Cette étude préalable inclut une évaluation de l’émetteur (caractéristiques de crédit, qualité de gestion de la société, flux de trésorerie disponibles, flexibilité
financière, part de marché, croissance du revenu, évolution des marges, accès au capital), mais aussi des réunions avec la direction générale et la participation à
des conférences sectorielles. L’équipe d’analystes du
Gestionnaire de portefeuille est organisée par secteur
industriel sur les marchés de FRN à haut rendement, de
prêts à taux fixe à haut rendement et de prêts à effet de levier et dispose en son sein d’une équipe indépendante dédiée au marché des CLO.
L’équipe d’Alcentra Limited organise un comité d’allocation d’actifs hebdomadaire, qui fixe les objectifs d’allocation de chaque classe d’actifs et articule les thèmes d’investissement. Les thèmes d’investissement du Compartiment sont ensuite sélectionnés à l’issue de
discussions portant sur les thèmes pertinents eu égard à des classes d’actifs spécifiques, comme le statut de crédit des émetteurs, la dynamique de l’offre et la demande et les valorisations. Des thèmes macro sont
également pris en compte, comme la croissance spécifique à la région, l’inflation, les taux d’intérêt et les perspectives de taux de défaut. Les objectifs d’allocation
des actifs sont modifiés sur la base de ces discussions et de l’analyse de l’émetteur individuel menée par le Gestionnaire de portefeuille.

##### Règlement sur la publication d’informations en matière de finance durable
La gestion du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents, il évalue le risque qu’un événement ou une
condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
À l’aide de processus quantitatifs et qualitatifs, le risque en matière de durabilité est identifié, contrôlé et géré par le Gestionnaire de portefeuille de la manière suivante :
–	Avant d’acquérir des investissements pour le compte d’un Compartiment, l’univers d’investissement est filtré à l’aide de la politique d’exclusion sectorielle du
Gestionnaire de portefeuille, selon laquelle les
investissements potentiels sont supprimés en fonction du secteur dans lequel ils sont opérés, par exemple les armes controversées. Lorsque le
Gestionnaire de portefeuille évalue une opportunité d’investissement, il effectue une analyse fondamentale holistique du risque de crédit de l’émetteur. Un élément clé de cette analyse est
l’évaluation de tout facteur ESG important susceptible d’avoir un impact négatif sur la solvabilité d’un émetteur. Le processus d’intégration des facteurs ESG commence par l’identification de l’exposition d’un émetteur aux risques ESG importants, suivie d’une évaluation de l’impact
financier potentiel de ces risques. Enfin, le Gestionnaire de portefeuille évalue l’engagement de l’émetteur à gérer l’exposition à des risques ESG
importants. Étant donné les marchés auxquels le Compartiment est exposé, l’engagement actif des entreprises est l’outil le plus important et constitue la base de l’intégration et de l’analyse des facteurs ESG. Le Gestionnaire de portefeuille a élaboré une liste de contrôle ESG et un guide de l’importance relative du secteur qui encadrent les activités d’engagement. L’intégration des facteurs de risque ESG aboutit à l’attribution d’une notation ESG établie en interne, qui façonne l’opinion de crédit du
Gestionnaire de portefeuille et motive les décisions de construction du portefeuille.
–	Pendant la durée de vie de l’investissement, le risque en matière de durabilité est contrôlé en examinant les données ESG publiées par l’émetteur (le cas échéant) et en se concentrant continuellement sur l’engagement actif de l’entreprise afin de déterminer
si le niveau de risque en matière de durabilité a changé depuis la réalisation de l’évaluation initiale. L’évaluation des facteurs ESG par le Gestionnaire de portefeuille constitue une partie importante du
processus quotidien de surveillance du crédit, par lequel le Gestionnaire de portefeuille évalue tous les
risques et opportunités liés à l’émetteur. Le Gestionnaire de portefeuille s’engage chaque année auprès de tous les émetteurs sur les questions ESG. L’engagement est toutefois plus fréquent lorsque l’exposition aux risques ESG importants est plus élevée. En outre, le Gestionnaire de portefeuille suit de près ce processus d’engagement ESG afin de saisir et mesurer l’efficacité des activités d’engagement. Si le risque en matière de durabilité associé à un investissement particulier augmente au-
delà de la propension au risque ESG du Compartiment, le Gestionnaire de portefeuille
envisagera de vendre ou de réduire l’exposition du Compartiment à l’investissement concerné, en tenant compte au mieux des intérêts des Actionnaires du
Compartiment.
Comme expliqué ci-dessus, la gestion et l’évaluation des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours possible qu’un Événement ESG ait une incidence négative
importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences
négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en
Bourse ou de gré à gré suivants, à des fins d’investissement :
| Swaps | Swaps de défaut de crédit (sur valeur individuelle, indice) Swaps de taux d’inflation |
| --- | --- |
| Contrats à terme | Contrats de change à terme |

| Titres avec IFD intégrés/effet de levier | Obligations avec remboursement anticipé à l’option de l’émetteur (callable) (y compris les obligations à taux progressif) ABS |
| --- | --- |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne peut pas accéder
directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | Markit North American High Yield CDX Index Markit North American Investment Grade CDX Index Markit iTraxx Europe Index Markit iTraxx Europe Crossover |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Toutefois,
sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages, les coûts associés ou la
pondération des actions de l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.
Exposition globale et effet de levier 
Méthodologie de calcul de l’exposition globale : VaR absolue
Limite de VaR absolue : 4,47 % de la Valeur liquidative du Compartiment (sur la base d’une période de détention de 1 Jours ouvrables)
L’effet de levier brut devrait varier entre : 100 – 500 % de la Valeur liquidative. L’effet de levier brut peut toutefois dépasser ce niveau cible à certains moments.
Pour plus d’informations sur l’approche de la VaR absolue et l’Effet de levier brut, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
Les Actions des catégories d’actions non lancées disponibles seront proposées durant une Période d’offre initiale, débutant à 9 h le 4 mai 2022 et s’achevant à 17 h le 3 novembre 2022, à un prix d’offre initial par Action de
1 USD, 1 EUR, 1 GBP, 1 CHF, 1 AUD, 1 CAD, 1 SGD, 10 DKK,
10 NOK, 10 SEK ou 100 JPY selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente de la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés trimestriellement, les
31 décembre, 31 mars, 30 juin et 30 septembre. En ce qui concerne les détenteurs d’Actions de distribution, les dividendes déclarés seront normalement versés au plus
tard le 11 février, le 11 mai, le 11 août et le 11 novembre, respectivement. De plus amples informations sont
disponibles à la section « La Société – Politique de
distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.
Les commissions et frais liés à la constitution et à l’organisation du Compartiment, y compris les honoraires des conseillers professionnels du Compartiment seront
pris en charge par le Compartiment. Ces commissions et frais sont estimés à un maximum de 35 000 € et seront pris en charge par le Compartiment et amortis sur une
période de 3 ans à partir de son lancement.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Sustainable Global Real Return Fund (EUR)

### SUPPLÉMENT 49, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.
- Le Compartiment peut substantiellement investir dans des dépôts auprès d’établissements de crédit. Même si le Compartiment peut investir dans des instruments du marché monétaire et des dépôts en numéraire, les Actions dans le Compartiment ne sauraient constituer des dépôts et diffèrent des dépôts par nature en ceci que l’investissement n’est pas garanti et que sa valeur est susceptible de fluctuer. Les investissements dans le Compartiment impliquent certains risques d’investissement, dont la perte éventuelle du capital.


#### Gestionnaire de portefeuille
Newton Investment Management Limited

#### Gestionnaire de portefeuille délégué
Le Gestionnaire de portefeuille peut déléguer certaines ou la totalité de ses fonctions de gestion
d’investissement eu égard au présent Compartiment à
Newton Investment Management North America LLC (le
« Gestionnaire de portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique « Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Euro

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les
tableaux ci-après et se différencient par leur devise de référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| EUR A (Cap.) | EUR | 5 000 | 5 % | 1,50 % | 0 % | EURIBOR à 1 mois + 4 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 1,50 % | 0 % | EURIBOR à 1 mois + 4 % |
| USD H (Cap.) (couverte) | USD | 5 000 | 5 % | 1,50 % | 0 % | SOFR (composé à 30 jours) + 4 % |

| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| --- | --- | --- | --- | --- | --- | --- |
| Sterling H (Cap.) (couverte) | GBP | 5 000 | 5 % | 1,50 % | 0 % | SONIA (composé à 30 jours) + 4 % |
| CHF H (Cap.) (couverte) | CHF | 5 000 | 5 % | 1,50 % | 0 % | SARON (composé à 30 jours) + 4 % |
| AUD H (Cap.) (couverte) | AUD | 5 000 | 5 % | 1,50 % | 0 % | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 4 % |
| CAD H (Cap.) (couverte) | CAD | 5 000 | 5 % | 1,50 % | 0 % | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 4 % |
| SGD H (Cap.) (couverte) | SGD | 5 000 | 5 % | 1,50 % | 0 % | SIBOR SGD à 1 mois + 4 % |

| Actions « G » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 1,00 % | 0 % | EURIBOR à 1 mois + 4 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 1,00 % | 0 % | EURIBOR à 1 mois + 4 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| Euro C (Cap.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % | EURIBOR à 1 mois + 4 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % | EURIBOR à 1 mois + 4 % |
| CHF I (Cap.) (couverte) | CHF | 5 000 000 | 5 % | 1,00 % | 0 % | SARON (composé à 30 jours) + 4 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % | EURIBOR à 1 mois + 4 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % | EURIBOR à 1 mois + 4 % |
| USD W (Cap.) (couverte) | USD | 15 000 000 | 5 % | 0,75 % | 0 % | SOFR (composé à 30 jours) + 4 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % | SARON (composé à 30 jours) + 4 % |
| AUD W (Cap.) (couverte) | AUD | 15 000 000 | 5 % | 0,75 % | 0 % | BofA Merrill Lynch AUD LIBOR 1 M Cons Maturity TR + 4 % |
| CAD W (Cap.) (couverte) | CAD | 15 000 000 | 5 % | 0,75 % | 0 % | BofA Merrill Lynch CAD LIBOR 1 M Cons Maturity TR + 4 % |
| SGD W (Cap.) (couverte) | SGD | 15 000 000 | 5 % | 0,75 % | 0 % | SIBOR SGD à 1 mois + 4 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % | SONIA (composé à 30 jours) + 4 % |

| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| --- | --- | --- | --- | --- | --- | --- |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % | SONIA (composé à 30 jours) + 4 % |

| Actions « Z » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| Euro Z (Cap.) | EUR | 200 000 000 | 5 % | 0,65 % | 0 % | EURIBOR à 1 mois + 4 % |
| Euro Z (Dist.) | EUR | 200 000 000 | 5 % | 0,65 % | 0 % | EURIBOR à 1 mois + 4 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| Euro E (Dist.) | EUR | Comme convenu | 5 % | 0,50 % | 0 % | EURIBOR à 1 mois + 4 % |
| Euro E (Cap.) | EUR | Comme convenu | 5 % | 0,50 % | 0 % | EURIBOR à 1 mois + 4 % |
| USD E (Dist.) (couverte) | USD | Comme convenu | 5 % | 0,50 % | 0 % | SOFR (composé à 30 jours) + 4 % |
| USD E (Cap.) (couverte) | USD | Comme convenu | 5 % | 0,50 % | 0 % | SOFR (composé à 30 jours) + 4 % |
| CHF E (Dist.) (couverte) | CHF | Comme convenu | 5 % | 0,50 % | 0 % | SARON (composé à 30 jours) + 4 % |
| CHF E (Cap.) (couverte) | CHF | Comme convenu | 5 % | 0,50 % | 0 % | SARON (composé à 30 jours) + 4 % |

| Actions « X » |
| --- |
| Catégorie | Devise | Investis-sement ini- tial minimum dans la devise de la catégorie | Commis-sion de souscri- ption initiale maximum | Commis-sion an- nuelle de gestion | Commis-sion de rachat | Indice de référence pour comparaison de la performance |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % | EURIBOR à 1 mois + 4 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à atteindre un rendement total supérieur à un indice de référence monétaire (tel que
décrit ci-dessous) sur un horizon d’investissement de 3 à
5 ans en investissant dans des titres qui présentent des caractéristiques d’investissement intéressantes et sont considérés comme durables. Cependant, rien ne permet
de garantir que cet objectif sera atteint au cours de cette période ou de toute autre période.

##### Politique d’investissement
Le Compartiment peut investir dans des actions et titres apparentés, des titres de créance et apparentés, des IFD (y compris des IFD sur devises), des organismes de placement collectif (« OPC »), des actifs liquides et quasi liquides.
Le Compartiment peut investir dans des actions ordinaires, des actions privilégiées, des certificats représentatifs de titres américains, des certificats représentatifs de titres internationaux, des titres convertibles en, ou échangeables, contre ce type
d’actions (tels que des obligations participatives [«
P-Notes »], y compris des options à faible prix d’exercice
(« LEPO ») et des bons de souscription à faible prix d’exercice (« LEPW »), des sociétés d’investissement immobilier cotées (« REIT ») et d’autres fonds cotés en
Bourse à capital fixe, des bons de souscription, des droits de souscription d’actions et des IFD sur actions (ci-après, les « Actions et titres apparentés »)).
Le Compartiment peut investir dans des titres de créance
et apparentés internationaux, de marchés émergents, souverains, d’État, d’agences supranationales, d’entreprises et de banques tels que des débentures, des billets, des obligations, des titres adossés à des actifs
(« ABS »), des titres adossés à des créances
hypothécaires (« MBS »), des titres convertibles ou échangeables en actions (tels que des obligations convertibles et des titres convertibles conditionnels
(« CoCo »)), des obligations structurées, des instruments
du marché monétaire (tels que des certificats de dépôt, des billets de trésorerie, des obligations d’État à court terme et des dépôts à terme), des obligations négociées
en Bourse (« ETN ») (y compris les matières premières négociées en Bourse et les certificats négociés en Bourse) et des IFD y afférents (ci-après, les « Titres de créance et apparentés »).
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des CoCo. Veuillez consulter la section
du Prospectus intitulée « Risque lié aux titres convertibles conditionnels (« CoCo ») pour plus de détails sur les risques associés aux CoCo.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des obligations structurées.
Le Compartiment peut investir dans des Titres de Créance et titres apparentés de qualité investment grade ou inférieure à investment grade (c.-à-d. des instruments notés BB+ ou moins [ou équivalent] tel que déterminé par une Agence de notation reconnue). Les investissements dans des Titres de créance et apparentés de qualité inférieure à investment grade ne devraient pas dépasser 30 % de la Valeur liquidative du Compartiment et seront généralement nettement inférieurs à ce niveau de 30 %.
Le Compartiment ne sera pas directement exposé aux sociétés réalisant plus de 10 % de leur chiffre d’affaires grâce à la production et à la vente de tabac et ne
participera pas aux activités de prêt de titres.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des OPC, y compris des ETF à capital variable. Le Compartiment peut détenir des niveaux
élevés d’actifs liquides et quasi liquides dans certaines
circonstances. Veuillez vous référer à la section « Gestion
de la liquidité et des garanties » pour obtenir des informations plus détaillées.
Le Compartiment peut acquérir une exposition aux matières premières, à l’immobilier, aux énergies renouvelables et aux infrastructures par le biais d’une combinaison de titres cotés ou négociés sur des Marchés
éligibles tels que des Actions et titres apparentés, des Titres de créance et apparentés et des OPC éligibles aux
OPCVM, y compris des ETF à capital variable. Le Compartiment n’investira pas directement dans les matières premières, l’immobilier, les énergies renouvelables ou les infrastructures.
Le Compartiment vise à investir dans le monde entier, sans industrie ou secteur de prédilection particulier ; cependant, il pourra parfois se concentrer sur des régions géographiques ou des secteurs particuliers en
fonction de l’opportunité d’investissement identifiée par
le Gestionnaire de portefeuille.
Le Compartiment peut investir plus de 20 % de sa Valeur
liquidative dans des marchés émergents et peut investir jusqu’à 10 % de sa Valeur liquidative dans des actions russes cotées ou négociées à la Bourse de Moscou.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des Titres de créance et apparentés en République populaire de Chine (« RPC ») négociés sur le
marché obligataire interbancaire chinois (« CIBM ») via le programme Bond Connect (décrit plus en détail à
l’Annexe VI du Prospectus).
L’achat d’actions A chinoises via le Stock Connect est l’une des méthodes utilisées par le Compartiment pour acquérir une exposition aux titres chinois. Le Compartiment peut investir jusqu’à 10 % de sa Valeur
liquidative dans des actions chinoises de classe A par le
biais du Stock Connect. Le programme Stock Connect est présenté plus en détail dans l’Annexe V du Prospectus.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des valeurs mobilières qui ne sont pas cotées ou négociées sur des Marchés éligibles.
Bien que sa devise de référence soit l’EUR, le Compartiment peut investir dans des actifs non libellés en EUR. Lesdits actifs ne seront pas nécessairement
couverts en euros. En outre, le Compartiment peut prendre des positions de change actives en utilisant des contrats de change à terme en couvrant les actifs non libellés en euros avec une autre devise, comme le dollar américain, et exprimer ainsi le point de vue du Gestionnaire de portefeuille sur les devises autres que
l’euro. Par conséquent, la performance du Compartiment
peut être fortement influencée par les fluctuations des
taux de change, car les positions en devises détenues par le Compartiment peuvent différer de ses positions en titres et tous les actifs ne peuvent pas être couverts par rapport à la devise de référence.

##### Gestion de la liquidité et des garanties
Le Compartiment peut également détenir des niveaux élevés d’actifs liquides et quasi liquides dans certaines circonstances. Il se peut, par exemple, que le
Gestionnaire de portefeuille estime que les marchés sont surévalués ou que les conditions du marché requièrent
l’adoption d’une stratégie d’investissement défensive.
Néanmoins, le Compartiment peut également détenir du
numéraire en dépôt, en attente de réinvestissement, pour financer le rachat d’actions, faciliter le paiement de frais ou afin de fournir des garanties pour les contrats d’IFD. Le Compartiment peut détenir temporairement des niveaux élevés d’actifs liquides et quasi liquides (jusqu’à
100 % de sa Valeur liquidative), lorsque les conditions de marché requièrent l’adoption d’une stratégie d’investissement défensive (par exemple, un crash boursier ou une crise majeure).
Les actifs quasi-liquides peuvent inclure les instruments du marché monétaire et les dépôts bancaires. Il est prévu que les émetteurs et/ou garants de tous ces titres et instruments auront une notation de crédit, au moment de
l’achat, au moins égale à A1/P1 (ou son équivalent)
publiée par une Agence de notation reconnue, ou seront jugés être d’une qualité équivalente par le Gestionnaire de portefeuille.

##### Indice de référence
EURIBOR à 1 mois + 4 % par an (l’« Indice de référence monétaire »).
Le Compartiment utilise l’Indice de référence monétaire comme objectif de performance à atteindre ou dépasser sur une période de 5 ans, avant déduction des frais.
L’EURIBOR (Euro Interbank Offer Rate) est un taux de référence constitué à partir du taux d’intérêt moyen auquel les banques de la zone euro offrent des prêts à
court terme non garantis sur le marché interbancaire.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour sélectionner les investissements sur la base de l’objectif et de la politique d’investissement.
L’Indice de référence est un indice de référence monétaire qui ne prend pas en compte les facteurs ESG et n’est pas utilisé pour déterminer le degré de conformité de ses composantes aux caractéristiques
environnementales ou sociales promues par le Compartiment.

##### Stratégie d’investissement
Le Gestionnaire de portefeuille estime qu’aucun émetteur, aucun marché et aucune économie ne peuvent être considérés isolément, chacun de ces éléments devant
être examiné dans un contexte global. Le Gestionnaire de portefeuille estime également que les événements qui
surviennent dans le monde influent sur tous les marchés financiers et qu’un investissement réussi dans des titres mondiaux implique par conséquent de bien comprendre
le monde dans son ensemble. Le Compartiment suit une stratégie multi-actifs mondiale non contraignante et gérée de manière dynamique. Les allocations se feront à
la discrétion du Gestionnaire de portefeuille entre les régions, secteurs et classes d’actifs décrits précédemment, même si tous les investissements doivent
respecter les critères environnementaux, sociaux et de gouvernance (« ESG ») de ce dernier. Le Gestionnaire de
portefeuille se concentre principalement sur l’investissement direct dans plusieurs classes d’actifs.
Le processus d’investissement du Gestionnaire de portefeuille repose sur l’allocation d’actifs et les thèmes d’investissement.
L’allocation d’actifs du Compartiment varie en fonction du point de vue du Gestionnaire de portefeuille sur les conditions fondamentales de l’économie et du marché ainsi que sur les tendances en matière d’investissement
dans le monde, tout en tenant compte de facteurs tels que la liquidité, les coûts, la durée d’exécution, les émetteurs disponibles sur le marché et l’analyse des questions ESG. Par exemple, lorsqu’il anticipe une hausse des taux d’intérêt, le Gestionnaire de portefeuille peut
décider de réduire la pondération du revenu fixe du
Compartiment et augmenter celle des actions. Autre exemple, s’il anticipe une baisse des marchés boursiers, il peut décider de réduire la pondération des actions du Compartiment et d’augmenter celle du revenu fixe et des actifs liquides et quasi liquides. Le Gestionnaire de portefeuille pourrait acheter des options d’achat liées à
un indice d’actions (comme l’indice S&P 500) en prévision
de la volatilité accrue attendue du marché boursier (par ex. le marché boursier américain) dans le but d’accroître la performance du Compartiment.
Les différents thèmes cherchent à identifier les
principaux domaines de changement structurel dans le monde. Ils permettent de fournir un contexte à l’analyse des investissements et à la prise de décision et d’aider le Gestionnaire de portefeuille à identifier les domaines
présentant des opportunités et des risques d’investissement potentiels.
Lorsque le Gestionnaire de portefeuille détermine si un émetteur donné répond à ses critères ESG et de durabilité, il détermine si celui-ci (i) applique de telles pratiques sur le plan économique (par exemple, la durabilité de sa stratégie, de ses opérations et de son financement), et (ii) prend en compte, de manière
appropriée, l’environnement économique, politique, de gouvernance et de réglementation dans lequel l’émetteur exerce ses activités, ce qui implique une évaluation des
pratiques environnementales, sociales et/ou de gouvernance de ce dernier.
Les critères du Gestionnaire de portefeuille incluent des éléments de filtrage négatif et positif ainsi que l’analyse ESG générale et au niveau des titres et, conformément à l’objectif et à la stratégie d’investissement du Compartiment, visent à :
–	identifier et éviter les émetteurs qui participent à des domaines d’activité spécifiques que le Gestionnaire de portefeuille juge nocifs du point de vue ESG, ou
qui ne suivent pas de bonnes pratiques de gouvernance. À titre d’exemple, le Gestionnaire de portefeuille peut estimer que les émetteurs ayant
une empreinte carbone importante ou les
gouvernements appliquant des politiques peu respectueuses des droits de l’homme ne sont pas éligibles à l’investissement. Cette mesure exclura également les sociétés qui enfreignent les Principes
du Pacte mondial des Nations Unies, notamment les principes relatifs aux droits de l’homme, au travail, à l’environnement et à la lutte contre la corruption.
–	identifier et investir dans des émetteurs qui cherchent de manière proactive à gérer les facteurs sociaux et environnementaux dans le but de générer des rendements durables. Cette mesure peut également inclure les émetteurs qui contribuent au développement de solutions qui aideront à résoudre les problèmes environnementaux et/ou sociaux, par
exemple l’utilisation plus efficace ou réduite des ressources naturelles ou l’accessibilité aux soins de santé.
Le Gestionnaire de portefeuille peut également investir dans des émetteurs privés lorsqu’il pense que ces derniers contribuent à promouvoir des pratiques
commerciales durables grâce à un engagement continu. Aucun investissement ne sera effectué dans une société réputée avoir des enjeux ESG importants inhérents à son activité économique ou commerciale, comme une société productrice de tabac, en raison des implications du tabagisme sur la santé. Afin de déterminer si un émetteur répond à ses critères ESG et de durabilité, le Gestionnaire de portefeuille utilise une combinaison de données externes et internes, de recherches et de notations à la fois quantitatives et qualitatives.
Le Gestionnaire de portefeuille dépend des informations et des données de tiers (qui peuvent inclure des informations fournies par des services de recherche, des
rapports, des résultats de filtrages, notations ou d’analyses tels que produits par les fournisseurs d’indices et les consultants). Ces informations ou données peuvent s’avérer incomplètes, inexactes ou incohérentes.
Les titres d’émetteurs éventuellement identifiés comme participant à des domaines d’activité spécifiques que le Gestionnaire de portefeuille juge nocifs du point de vue
ESG, seront soumis à un examen plus approfondi avant d’être achetés ou détenus en portefeuille sur une base continue.
Dans certaines situations, le Gestionnaire de portefeuille pourra investir dans le titre d’une société identifiée comme étant impliquée dans des activités
potentiellement nocives. Cette situation peut se produire pour certaines sociétés dont les activités ou opérations,
généralement en raison d’un ensemble d’activités commerciales exercées de longue date, peuvent avoir
enregistré de mauvais résultats environnementaux ou sociaux par le passé, mais qui effectuent désormais de
nouveaux investissements et s’adaptent positivement aux
nouvelles exigences (par exemple, les sociétés du secteur de l’énergie qui se préparent à une transition vers un monde à plus faible émission de carbone). De même,
dans certains cas, les notations ESG retenues peuvent ne pas refléter entièrement les initiatives ESG positives sur lesquelles un émetteur est susceptible de travailler.
Les investissements du Compartiment doivent continuer
à répondre aux critères du Gestionnaire de portefeuille de manière continue après leur acquisition initiale, et le
niveau de risque en matière de durabilité auquel un titre peut être soumis continuera d’être évalué de la même manière qu’avant l’acquisition initiale.

##### Règlement sur la publication d’informations en matière de finance durable
Le Compartiment intègre le risque de durabilité dans ses décisions d’investissement et promeut des caractéristiques environnementales ou sociales et
investit dans des entreprises qui font état d’une bonne gouvernance au sens de l’Article 8 du règlement SFDR.
La prise en compte du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque
en matière de durabilité associé aux investissements sous-jacents, il évalue le risque qu’un événement ou une condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Le Gestionnaire de portefeuille a accès à diverses
catégories de données ESG fournies par des fournisseurs tiers, qui permettent d’identifier les problèmes ESG potentiels auxquels un émetteur peut être confronté.
Cela inclut, entre autres, l’exposition à des activités
pouvant être considérées comme nocives pour l’environnement ou la société. Ces données, ainsi que celles obtenues par le Gestionnaire de portefeuille dans le cadre de sa propre recherche sur l’investissement responsable, constituent une part importante de la prise en compte et de l’évaluation du niveau de risque en matière de durabilité auquel un investissement peut être
soumis.
Cette évaluation est intégrée au processus de recherche au niveau des titres, qui repose sur une analyse
fondamentale des opportunités d’investissement
individuelles à travers un certain nombre de facteurs
différents, notamment :
- les caractéristiques financières ou économiques fondamentales ;
- l’évaluation ;
- le profil risque/rendement ; et
- les caractéristiques ESG de l’émetteur, y compris la compréhension de la manière dont ces considérations peuvent avoir un impact sur lesrendements économiques.

Le Gestionnaire de portefeuille tiendra compte des informations recueillies à partir de l’analyse fondamentale dans sa décision d’acquérir une participation dans une société émettrice ou de conserver
une position donnée.
Si le risque en matière de durabilité associé à un investissement particulier augmente au-delà d’un niveau jugé acceptable par le Gestionnaire de portefeuille, en
prenant en compte l’objectif et la stratégie d’investissement du Compartiment, le Gestionnaire de portefeuille envisagera de vendre ou de réduire l’exposition du Compartiment à l’investissement
concerné, en tenant compte au mieux des intérêts des
Actionnaires du Compartiment.
Comme expliqué ci-dessus, l’évaluation et la gestion des risques de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours possible qu’un
Événement ESG ait une incidence négative importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du régime des principales incidences négatives prévu à
l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire
soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences
négatives des décisions d’investissement sur les facteurs
de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du
régime en matière de reporting. Le Gestionnaire continue d’analyser les données disponibles qui seraient nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les Critères d’examen technique (« CET » du Règlement sur la taxonomie de l’UE exigeront la disponibilité de plusieurs points de données spécifiques concernant
chaque investissement. À la date des présentes, le Gestionnaire ne dispose pas de données suffisamment
fiables, opportunes et vérifiables pour pouvoir évaluer les investissements du Compartiment à l’aide des TSC.
Par ailleurs, les normes techniques réglementaires du SFDR qui définissent la méthode de calcul de la part des produits financiers (tels que le portefeuille du
Compartiment) alignés sur le Règlement sur la taxonomie de l’UE ainsi que les modèles de communication des informations requises ne sont pas encore définitivement établis. À la date des présentes, le Gestionnaire n’est pas en mesure de fournir des données normalisées et comparables permettant d’évaluer l’alignement des investissements du Compartiment au sens du Règlement sur la taxonomie de l’UE.
Bien que certains investissements du Compartiment appartiennent à des activités économiques qui contribuent à un objectif environnemental et pourraient
faire l’objet d’une évaluation mesurée à l’aide des TSC, le Gestionnaire n’a pas actuellement la possibilité de décrire :
- la mesure dans laquelle les investissements du Compartiment sont réalisés dans des Activités économiques durables sur le plan environnemental ;
- la proportion, en pourcentage de la taille du portefeuille du Compartiment, d’investissements réalisés dans des Activités économiques durables surle plan environnemental ;
- les proportions respectives, en pourcentage de la taille du portefeuille du Compartiment, des investissements réalisés dans des Activitéshabilitantes et des Activités transitoires au sens du Règlement sur la taxonomie de l’UE ;Le Gestionnaire suit activement l’évolution de la situation et fournira, dès qu’il disposera de données suffisamment précises, fiables et vérifiables sur les investissements duCompartiment, les informations auxquelles il est fait référence ci-dessus. Le Prospectus et le Supplément correspondant seront alors actualisés en conséquence.


#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en
Bourse ou de gré à gré suivants, à des fins d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur devises Contrats à terme standardisés sur obligations d’État Contrats à terme standardisés sur indices boursiers Contrats à terme standardisés sur indices de volatilité Contrats à termes standardisés sur le marché monétaire Contrats à terme standardisés sur actions |
| --- | --- |
| Options | Options sur actions (titre individuel, indice, secteur, panier personnalisé) Options à faible prix d’exercice (LEPO) et Bons de souscription à faible prix d’exercice (LEPW) Options sur obligations Options sur contrats à terme standardisés sur obligations Options sur contrats à terme standardisés sur actions Options sur swaps Options sur indices de volatilité Options sur devises (incluant les Options barrière) |
| Swaps | Swaps de défaut de crédit (titre individuel, indice et panier personnalisé) Swaps de taux d’intérêt Swaps d’actions Swaps d’indices Swaps de rendement total (titre individuel, crédit, indice et panier personnalisé) Contrats sur différence (CFD) Swaps de secteurs Swaps de volatilité |
| Contrats à terme | Contrats de change à terme |
| Titres avec IFD intégrés/effet de levier | Obligations convertibles Titres convertibles conditionnels (CoCo) Titres adossés à des actifs (ABS) Titres adossés à des créances hypothécaires (MBS) Bons de souscription Billets structurés ETN |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne peut pas accéder
directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | Indice Markit iTraxx CDS Index |
| Indices d’actions utilisés pour offrir une exposition aux marchés de titres régionaux et mondiaux de manière plus rentable ou plus efficace que par l’achat de titres physiques. | Borsa Istanbul 30 Dax 30 Index Euro Stoxx 50 Index FTSE 100 Index FTSE All Share Index FTSE World Index Hang Seng Index KOSPI Index MDAX Index MSCI All Countries World Index MSCI Emerging Markets Index Nasdaq Composite Index Nikkei 225 Index Russell 2000 Index S&P/ASX 200 Index S&P/TSX Composite Index S&P 500 Index Stoxx Europe 600 Index Stoxx Europe Small 200 |
| Indices de volatilité permettant de fournir une exposition à, ou exprimer le point de vue du Gestionnaire de portefeuille sur, la volatilité d’un marché ou d’une devise spécifique de manière plus rentable ou plus efficace que par l’achat de titres physiques. | Chicago Board Options Exchange SPX Volatility Index |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Les
indices financiers restants seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages,
les coûts associés ou la pondération des actions de l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références
pour obtenir des informations supplémentaires seront fournies dans les comptes semestriels et annuels de la Société.

##### Positions longues et courtes
Le Compartiment peut construire des expositions
synthétiques longues et synthétiques courtes dans chacune des classes d’actifs référencées dans la Politique d’investissement pour atteindre son objectif d’investissement. L’exposition longue nette totale (après prise en compte de la couverture) par le biais d’IFD ne
devrait pas dépasser 100 % de la Valeur liquidative du Compartiment et l’exposition nette courte totale ne devrait pas dépasser non plus 100 % de la Valeur liquidative du Compartiment (en utilisant l’approche par les engagements).
Exposition globale et effet de levier 
Méthodologie de calcul de l’exposition globale : VaR absolue
Limite de VaR absolue : le portefeuille du Compartiment ne dépassera pas 20 % de la Valeur liquidative (sur la
base d’une période de détention de 20 Jours ouvrables).
L’effet de levier brut devrait varier entre : 0 % et 1 000 % de la Valeur liquidative du Compartiment. L’effet de levier brut peut toutefois dépasser ce niveau cible à certains
moments.
Pour plus d’informations sur l’approche de la VaR absolue et l’Effet de levier brut, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats sur différence, titres avec IFD
intégrés, contrats à terme et bons de souscription. Le Compartiment peut également utiliser des accords de mise en pension/prise en pension à des fins de gestion efficace de portefeuille uniquement, sous réserve des conditions et limites énoncées dans la Réglementation OPCVM de la Banque centrale. Veuillez consulter la
section du Prospectus intitulée « La Société – Gestion
efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Accords de prêt de titres
Ce Compartiment n’aura pas recours aux accords de prêt de titres et peut donc renoncer à tout rendement supplémentaire pouvant être généré par ces activités.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des OFT, c’est à
dire des accords de mise/prise en pension, comme décrit
sous la rubrique « Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et
aux OFT correspondent respectivement à 100 % et 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que ces expositions respectives aux TRS et aux OFT excèdent 30 % et 15 % de sa Valeur liquidative. Les types d’actifs
qui feront l’objet de TRS et OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les TRS et les OFT, notamment les garanties acceptables et la procédure
relative à la contrepartie, sont fournis aux rubriques du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties », « Annexe III – Recours à des accords de mise/prise en pension et accords de prêt de titres »,
« Gestion efficace de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 EUR, 1 GBP, 1 CAD, 1 AUD, 1 SGD ou
10 CHF selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront
normalement déclarés le 31 décembre de chaque année. Concernant les détenteurs d’Actions de distribution, les dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.
Les commissions et frais liés à la constitution et à l’organisation du Compartiment, y compris les honoraires des conseillers professionnels du Compartiment seront
pris en charge par le Compartiment. Ces commissions et frais sont estimés à un maximum de 35 000 € et seront pris en charge par le Compartiment et amortis sur une
période de 3 ans à partir de son lancement.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Efficient Global IG Corporate Beta Fund

### SUPPLÉMENT 50, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».


#### Gestionnaire de portefeuille
Insight North America LLC

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée occasionnellement par les Administrateurs, à condition
que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale
et le niveau des commissions et frais prélevés. Les catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD A (Cap.) | USD | 5 000 | 5 % | 0,40 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 0,40 % | 0 % |
| Euro H (Cap.) (couverte) | EUR | 5 000 | 5 % | 0,40 % | 0 % |
| Euro H (Dist.) (couverte) | EUR | 5 000 | 5 % | 0,40 % | 0 % |
| DKK H (Cap.) (couverte) | DKK | 50 000 | 5 % | 0,40 % | 0 % |
| SEK H (Cap.) (couverte) | SEK | 50 000 | 5 % | 0,40 % | 0 % |
| NOK H (Cap.) (couverte) | NOK | 50 000 | 5 % | 0,40 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 0,30 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 0,30 % | 0 % |
| Euro I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 0,30 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 0,30 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,20 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,20 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,20 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,20 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,20 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,20 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,20 % | 0 % |
| DKK W (Cap.) (couverte) | DKK | 150 000 000 | 5 % | 0,20 % | 0 % |
| SEK W (Cap.) (couverte) | SEK | 150 000 000 | 5 % | 0,20 % | 0 % |
| NOK W (Cap.) (couverte) | NOK | 150 000 000 | 5 % | 0,20 % | 0 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD E (Cap.) | USD | Comme convenu | 5 % | 0,10 % | 0 % |
| USD E (Dist.) | USD | Comme convenu | 5 % | 0,10 % | 0 % |
| Euro E (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,10 % | 0 % |
| Euro E (Dist.) (couverte) | EUR | Comme convenu | 5 % | 0,10 % | 0 % |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,10 % | 0 % |
| Sterling E (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,10 % | 0 % |
| CHF E (Cap.) (couverte) | CHF | Comme convenu | 5 % | 0,10 % | 0 % |

| Actions « L » et Actions « L (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Sterling L (Cap.) | GBP | Comme convenu | 5 % | 0,08 % | 0 % |
| Sterling L (Dist.) | GBP | Comme convenu | 5 % | 0,08 % | 0 % |
| Sterling L (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,08 % | 0 % |
| Sterling L (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,08 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Cap.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Cap.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à générer un rendement supérieur à l’Indice de référence détaillé ci-dessous avec des niveaux de volatilité similaires à moyen et long terme
avant commissions et frais.

##### Politique d’investissement
Le Compartiment vise à atteindre son objectif d’investissement en investissant directement et indirectement dans des titres de créance et apparentés sous-jacents inclus dans l’indice Bloomberg Barclays
Global Aggregate Corporate TR USD Hedged (l’« Indice de
référence »). Le Compartiment peut également investir
dans des titres de créance ou titres apparentés non inclus dans l’Indice de référence lorsque d’autres titres de l’émetteur des titres concernés sont déjà inclus dans l’Indice de référence ou lorsque le titre de créance ou titre apparenté investi satisfait aux exigences de l’Indice de référence et devrait y être inclus à l’avenir. Cela permet au Compartiment d’acheter des titres lors de leur première émission plutôt que d’attendre qu’ils soient ajoutés à l’Indice de référence. Le Compartiment peut
continuer de détenir des titres initialement inclus dans l’Indice de référence au moment de l’achat, même s’ils sont par la suite retirés.
Le Compartiment peut investir dans des titres de créance et apparentés d’entreprise à taux fixe et variable, notamment des obligations, des placements privés
(obligations Reg S et 144A), des instruments du marché monétaire (tels que des bons du Trésor américain, des certificats de dépôt, des billets de trésorerie et des dépôts à terme) et dans des IFD ci-après, les « Titres de créance et apparentés ». Les IFD sont énumérés ci-
dessous sous la rubrique « Utilisation d’IFD ».
Le Compartiment peut être exposé jusqu’à 10 % de sa Valeur liquidative à des titres convertibles conditionnels (« CoCo »). Veuillez consulter la section du Prospectus
intitulée « Risque lié aux titres convertibles conditionnels (« CoCo ») pour plus de détails sur les risques associés aux CoCo.
Le Compartiment peut investir dans des titres de qualité
investment grade, tel que déterminé par Agence de notation reconnue au moment de l’achat. Les titres sont notés investment grade si la notation médiane des
Agences de notation reconnues est supérieure à Ba1/BB
+/BB+. Lorsque seules deux notations d’agences sont disponibles, la note la plus basse est utilisée ; dès lors qu’un titre est noté par une seule agence, cette note est utilisée. Le Compartiment peut également continuer à
détenir des titres qui ont été rétrogradés à la catégorie inférieure à investment grade après l’achat et qui sont par conséquent retirés de l’Indice de référence.
L’investissement dans des titres qui ont été rétrogradés à la catégorie inférieure à investment grade après l’achat
sera limité à 10 % de la Valeur liquidative du
Compartiment.
Le Compartiment investira principalement directement
dans les Titres de créance et apparentés sous-jacents inclus dans l’Indice de référence, mais investira également, à titre accessoire, dans des composantes de l’Indice de référence via des indices de swaps de défaut
de crédit (« CDS »), comme indiqué dans la section
« Indices financier » ci-dessous, et dans des organismes de placement collectif (« OPC »).
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans d’autres organismes de placement collectif (OPC) à capital variable, y compris des fonds
monétaires et des fonds négociés en Bourse à capital variable (« ETF »). Le Compartiment peut également détenir des actifs liquides à titre accessoire, tels que des dépôts bancaires.
Le Compartiment peut également détenir des actifs liquides et quasi liquides dans certaines circonstances. Veuillez vous référer à la section « Gestion de la liquidité et des garanties » pour obtenir des informations plus détaillées.
Le Compartiment vise à investir dans le monde entier, sans industrie ou secteur de prédilection particulier ; cependant, il pourra parfois se concentrer sur des industries ou secteurs géographiques spécifiques, y
compris les États-Unis, en fonction des opportunités d’investissement identifiées par le Gestionnaire de portefeuille ou des secteurs/industries ciblés par l’Indice de référence.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des pays émergents. Le Compartiment n’investira pas en Russie.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative globale dans des valeurs mobilières (c’est-à- dire des Titres de créance et apparentés) qui ne sont pas
admises ou négociées sur un Marché éligible, conformément à la Réglementation OPCVM. À l’exception des investissements autorisés dans des organismes de
placement collectif (OPC) à capital variable, les
investissements du Compartiment seront cotés ou négociés sur les Marchés éligibles listés dans l’Annexe II du Prospectus.
Bien que la devise de référence du Compartiment soit l’USD, le compartiment peut investir dans des actifs non libellés en USD qui seront couverts en USD par le biais d’IFD sur devises. Les IFD sur devises qui peuvent être utilisés par le Compartiment à des fins de couverture
sont décrits plus en détail dans le Prospectus, dans la section intitulée « Techniques et instruments financiers dérivés ».

##### Gestion de la liquidité et des garanties
Le Compartiment détiendra des actifs liquides et quasi liquides dans certaines circonstances, telles que pour satisfaire aux demandes de rachat, faciliter le paiement des frais, conserver des liquidités en attente de réinvestissement et fournir des liquidités et des garanties
pour les contrats d’IFD.
Les actifs quasi-liquides peuvent comprendre des instruments du marché monétaire tels que des bons du Trésor américain, des obligations du Trésor et des dépôts bancaires. Il est prévu que les émetteurs et/ou garants de tous ces titres et instruments auront une notation de
crédit, au moment de l’achat, au moins égale à A1/P1 (ou
son équivalent) publiée par une Agence de notation reconnue, ou seront jugés être d’une qualité équivalente par le Gestionnaire de portefeuille.

##### Indice de référence
L’indice Bloomberg Barclays Global Aggregate Corporate TR Index USD Hedged (l’« Indice de référence »)
L’Indice de référence mesure la performance du marché mondial des titres de créance d’entreprise. L’Indice de référence est un indice pondéré du marché qui comprend des titres de créance d’entreprise à revenu fixe émis par
des sociétés situées dans des pays émergents et
développés du monde entier, comme décrit ci-dessus en tant que Titres de créance et apparentés. Ces titres de créance sont de qualité investment grade au moment de leur émission, comme défini précédemment, et auront
une échéance minimale d’au moins un an ainsi qu’une taille d’émission minimale, conformément aux directives fixées par le fournisseur d’indices. L’Indice de référence est rééquilibré mensuellement ; toutefois, le Compartiment n’a pas pour objectif de suivre ou de reproduire l’Indice de référence et ne sera donc pas directement affecté par le rééquilibrage, les coûts associés ou la pondération des actions dans l’Indice de référence qui ne respecterait pas les restrictions d’investissement fixées.
Des informations supplémentaires sur l’Indice de référence sont disponibles ici :
https://www.bloomberg.com/quote/LGCPTRUU:IND
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Gestionnaire de portefeuille utilisera l’Indice de référence pour construire l’univers d’investissement. Le Compartiment est géré activement et ne vise pas à répliquer toutes les composantes de l’Indice de référence. Le Gestionnaire de portefeuille jouit d’un pouvoir discrétionnaire limité pour investir en dehors de l’Indice de référence sur la base de l’objectif et de la politique d’investissement.
La majorité des participations du Compartiment seront des composantes de l’Indice de référence et, par conséquent, le Compartiment sera exposé de manière
similaire aux différentes devises et différents secteurs, ainsi qu’à la duration. Cependant, le Gestionnaire de portefeuille ne vise pas à refléter le profil d’échéances ou de qualité de crédit de l’Indice de référence.
La stratégie d’investissement permet d’obtenir une volatilité similaire à celle de l’Indice de référence sur le moyen et le long terme.

##### Stratégie d’investissement
Une approche descendante est utilisée pour construire un portefeuille basé sur l’Indice de référence qui fournit un « bêta efficace ». Le terme « Bêta » fait référence à l’acquisition de l’exposition de marché tandis que
« efficace » fait référence à l’atteinte du coefficient
« bêta » souhaité grâce aux décisions et stratégies d’investissement réfléchies et rentables du Gestionnaire de portefeuille.
Le Gestionnaire de portefeuille cherche à répartir efficacement le portefeuille, en surpondérant les
segments offrant un rendement ajusté du risque intéressant en termes d’échéance et de qualité de crédit par rapport à l’Indice de référence. Le Gestionnaire de portefeuille peut par exemple choisir de sous-pondérer
les Titres de créance et apparentés notés AAA/AA ou notés A et à longue duration par rapport à l’Indice de référence, et de surpondérer les Titres de créance et
apparentés notés BBB et à échéance courte. Le Gestionnaire de portefeuille s’efforcera de maintenir une duration de taux d’intérêt conforme à celle de l’Indice de référence. La duration étant la mesure de la sensibilité
du prix d’une obligation par rapport aux variations des taux d’intérêt.
Ce faisant, le Compartiment accède au segment de crédit où le Gestionnaire de portefeuille considère que le compromis entre rendement excédentaire et risque supplémentaire est le plus efficace. Cette évaluation
découle d’estimations internes de la taille des primes de risque actuelles, ainsi que d’une analyse continue du marché.
Le Gestionnaire de portefeuille utilise des stratégies qui visent à pallier les anomalies au sein de l’Indice de référence et plus largement, de l’univers investment grade. Du point de vue du Gestionnaire de portefeuille,
ces stratégies incluent une gestion efficace de rotation des actifs et des investissements dans des valeurs dites
« fallen angels ». Les « fallen angels » sont des titres de créance et apparentés qui, à un moment donné, ont été de qualité investment grade et ont depuis été rétrogradés dans la catégorie inférieure à investment grade. Bien que
l’Indice de référence supprime les « fallen angels », il n’est pas toujours rentable de les vendre. Ainsi, le Compartiment peut détenir des Titres de créance et
apparentés qui ont été rétrogradés à une notation inférieure à investment grade (c’est-à-dire BB+ ou moins, tel que déterminé par une Agence de notation reconnue).
En termes de titres, les Titres de créance et apparentés
seront choisis pour représenter les expositions aux secteurs et aux devises globales de l’Indice de référence de sorte que ces expositions soient conformes à celles de l’Indice de référence, ce qui revient en soi, à une exposition au coefficient bêta.
Le portefeuille est bien diversifié et le Gestionnaire de portefeuille utilise un modèle de crédit exclusif pour faciliter la prise de décision. Le modèle de crédit utilise des signaux factoriels pour identifier les Titres de créance et apparentés plus risqués. Ces facteurs comprennent des paramètres de qualité, momentum et valeur. Ils permettent au Gestionnaire de portefeuille de prévoir la possibilité de rétrogradation et de défaut, ainsi que la juste valeur des Titres de créance et apparentés. Le Gestionnaire de portefeuille intègre les informations fournies par le modèle dans le processus de sélection de
titres et dans le suivi permanent de l’Indice de référence.
En associant des stratégies qui corrigent les anomalies détectées au sein de l’Indice de référence, le Gestionnaire de portefeuille cherche à offrir une solution d’investissement à « bêta efficace » aux investisseurs.

##### Règlement sur la publication d’informations en matière de finance durable
Du fait de l’objectif d’investissement, le Gestionnaire de portefeuille dispose d’un pouvoir discrétionnaire limité pour s’écarter des caractéristiques et des expositions de l’Indice de référence. Ce pouvoir discrétionnaire lui permet, par exemple, d’investir dans des titres non inclus dans l’Indice de référence lorsque ces titres répondent aux exigences de l’Indice de référence et devraient à l’avenir être inclus dans l’Indice de référence, et
également de continuer à détenir des titres inclus dans l’Indice de référence au moment de l’achat, même s’ils sont ensuite retirés. L’Indice de référence ne prend pas en compte les facteurs ESG ni les risques en matière de
durabilité. Par conséquent, le Gestionnaire de portefeuille
n’intègre pas les risques en matière de durabilité (qui sont définis comme un événement ou une condition ESG
qui, en cas de survenance, pourrait avoir un impact négatif réel ou potentiel important sur la valeur de
l’investissement concerné [un « Événement ESG »]) dans ses décisions d’investissement. Toutefois, en raison de la nature diversifiée du Compartiment, le Gestionnaire de
portefeuille a déterminé que le risque en matière de durabilité était minimal.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences
négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en
Bourse ou de gré à gré suivants, à des fins d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur obligations |
| --- | --- |
| Swaps | Swaps de défaut de crédit (sur valeur individuelle et indice [CDS]) |
| Titres avec IFD intégrés/effet de levier | Titres convertibles conditionnels (CoCo) |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne peut pas accéder
directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | Markit CDX North American Investment Grade Markit iTraxx Global Index Europe (Main) |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Toutefois,
sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement
affecté par les rééquilibrages, les coûts associés ou la pondération des actions de l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 100 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés,
options, swaps, titres avec IFD intégrés, contrats à terme et bons de souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la
section du Prospectus intitulée « La Société – Gestion
efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types
d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la
contrepartie sont fournis aux rubriques du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leurs Périodes d’offre initiale respectives à leurs prix d’offre initiale par Action respectifs, à savoir de 1 USD, 1 GBP, 1 EUR, 1 CHF,
10 DKK, 10 SEK, 10 NOK ou 1 CAD selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de souscription applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés trimestriellement, les
31 décembre, 31 mars, 30 juin et 30 septembre. En ce qui concerne les détenteurs d’Actions de distribution, les dividendes déclarés seront normalement versés au plus
tard le 11 février, le 11 mai, le 11 août et le 11 novembre,
respectivement. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la
Société – Commissions et frais » du Prospectus. La commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.
Les commissions et frais liés à la constitution et à l’organisation du Compartiment, y compris les honoraires des conseillers professionnels du Compartiment seront
pris en charge par le Compartiment. Ces commissions et frais sont estimés à un maximum de 40 000 € et seront pris en charge par le Compartiment et amortis sur une
période de 4 ans à partir de son lancement.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Efficient EM Debt Local Currency Beta Fund

### SUPPLÉMENT 51, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- La Valeur liquidative du Compartiment peut faire l’objet d’une volatilité élevée en raison de sa politique d’investissement.
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Insight North America LLC

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée occasionnellement par les Administrateurs, à condition
que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale
et le niveau des commissions et frais prélevés. Les catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD A (Cap.) | USD | 5 000 | 5 % | 0,40 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 0,40 % | 0 % |
| Euro H (Cap.) (couverte) | EUR | 5 000 | 5 % | 0,40 % | 0 % |
| Euro H (Dist.) (couverte) | EUR | 5 000 | 5 % | 0,40 % | 0 % |
| DKK H (Cap.) (couverte) | DKK | 50 000 | 5 % | 0,40 % | 0 % |
| SEK H (Cap.) (couverte) | SEK | 50 000 | 5 % | 0,40 % | 0 % |
| NOK H (Cap.) (couverte) | NOK | 50 000 | 5 % | 0,40 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 0,30 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| USD G (Dist.) | USD | 5 000 | 5 % | 0,30 % | 0 % |
| Euro G (Cap.) (couverte) | EUR | 5 000 | 5 % | 0,30 % | 0 % |
| Euro G (Dist.) (couverte) | EUR | 5 000 | 5 % | 0,30 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 0,30 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 0,30 % | 0 % |
| Euro I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 0,30 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 0,30 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,20 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,20 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,20 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,20 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,20 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,20 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,20 % | 0 % |
| DKK W (Cap.) (couverte) | DKK | 150 000 000 | 5 % | 0,20 % | 0 % |
| SEK W (Cap.) (couverte) | SEK | 150 000 000 | 5 % | 0,20 % | 0 % |
| NOK W (Cap.) (couverte) | NOK | 150 000 000 | 5 % | 0,20 % | 0 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD E (Cap.) | USD | Comme convenu | 5 % | 0,10 % | 0 % |
| USD E (Dist.) | USD | Comme convenu | 5 % | 0,10 % | 0 % |
| Euro E (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,10 % | 0 % |
| Euro E (Dist.) (couverte) | EUR | Comme convenu | 5 % | 0,10 % | 0 % |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,10 % | 0 % |
| Sterling E (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,10 % | 0 % |
| CHF E (Cap.) (couverte) | CHF | Comme convenu | 5 % | 0,10 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| CHF X (Cap.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Cap.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à fournir des performances et des niveaux de volatilité similaires à ceux de l’Indice de référence (détaillé ci-dessous) à moyen et long terme
avant déduction des commissions et frais.

##### Politique d’investissement
Le Compartiment vise à atteindre son objectif d’investissement en investissant directement dans des titres de créance et apparentés sous-jacents inclus dans l’indice JP Morgan GBI-EM Global Diversified Index
(l’« Indice de référence »). Le Compartiment peut
également investir dans des titres de créance ou titres apparentés qui satisfont aux exigences de l’Indice de référence et devraient y être inclus à l’avenir. Le Compartiment peut continuer de détenir des titres initialement inclus dans l’Indice de référence au moment de l’achat, même s’ils sont par la suite retirés.
Le Compartiment investira dans des titres de créance et apparentés à taux fixe de gouvernements de pays émergents, libellés devise locale, y compris des obligations, des débentures, ci-après, les « Titres de créance et apparentés », et les IFD associés (comme
indiqué dans la section « Utilisation d’IFD » ci-dessous).
Le Compartiment peut être exposé jusqu’à 10 % de sa Valeur liquidative à des titres convertibles conditionnels (« CoCo »). Veuillez consulter la section du Prospectus
intitulée « Risque lié aux titres convertibles conditionnels (« CoCo ») pour plus de détails sur les risques associés aux CoCo.
Le Compartiment investira dans des Titres de créance et apparentés de qualité investment grade et inférieure, tels que notés par une Agence de notation reconnue au
moment de l’achat. Les Titres de créance et apparentés
sont considérés comme étant de qualité investment grade
si la notation médiane attribuée par ces agences de notation est supérieure à Ba1/BB+/BB+ et de qualité
inférieure si la notation médiane est Ba1/BB+/BB+ ou inférieure. Lorsque seules deux notations d’agences sont disponibles, la note la plus basse est utilisée ; dès lors qu’un titre est noté par une seule agence, cette note est utilisée. Le Compartiment peut investir plus de 30 % de
sa Valeur liquidative dans des Titres de créance et apparentés de qualité inférieure à investment grade. Le Compartiment peut continuer à détenir des Titres de créance et apparentés qui sont rétrogradés dans la catégorie inférieure à investment grade, qui ne sont pas notés ou qui sont surclassés dans la catégorie investment grade après leur achat.
Le Compartiment investira principalement directement dans des Titres de créance et apparentés sous-jacents
inclus dans l’Indice de référence, mais investira
également, à titre accessoire, dans des composantes de l’Indice de référence via des IFD et dans des organismes de placement collectif (« OPC »).
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans d’autres OPC à capital variable, y compris des fonds monétaires et des fonds négociés en
Bourse (« ETF » à capital variable. Le Compartiment peut également détenir des actifs liquides à titre accessoire, tels que des dépôts bancaires.
Le Compartiment peut également détenir des actifs liquides et quasi liquides dans certaines circonstances. Veuillez vous référer à la section « Gestion de la liquidité et des garanties » pour obtenir des informations plus détaillées.
Le Compartiment vise à investir plus de 20 % de sa Valeur liquidative dans des marchés émergents sans industrie ou secteur de prédilection particulier ; cependant, il pourra parfois se concentrer sur des
industries ou secteurs géographiques particuliers en fonction de l’opportunité d’investissement identifiée par le Gestionnaire de portefeuille ou des secteurs/industries ciblés par l’Indice de référence.
Le Compartiment peut investir jusqu’à 15 % de sa Valeur liquidative dans des Titres de créance et apparentés en République populaire de Chine (« RPC ») négociés sur le
marché obligataire interbancaire chinois (« CIBM ») via le programme Bond Connect (décrit plus en détail à
l’Annexe VI du Prospectus).
Le Compartiment peut également acquérir une exposition au marché russe. Le Compartiment peut investir jusqu’à 15 % de sa Valeur liquidative dans des titres cotés ou
négociés sur la Bourse de Moscou.
À l’exception des investissements autorisés en valeurs non cotées ou en OPC à capital variable, les
investissements seront limités aux Marchés éligibles répertoriés à l’Annexe II du Prospectus. La performance du Compartiment peut être fortement influencée par les
fluctuations des taux de change, car ses actifs sont libellés dans une devise autre que la Devise de référence et ne seront généralement pas couverts par rapport à
cette Devise de référence. Le Compartiment conservera un profil de change similaire à celui de l’Indice de référence et utilisera des contrats de change à terme pour couvrir ses positions d’obligations en devise locale, si nécessaire, pour y parvenir. Les IFD sur devises qui
peuvent être utilisés par le Compartiment à des fins de couverture sont décrits plus en détail dans le Prospectus, dans la section intitulée « Techniques et instruments financiers dérivés ».

##### Gestion de la liquidité et des garanties
Le Compartiment détiendra des actifs liquides et quasi liquides dans certaines circonstances, telles que pour satisfaire aux demandes de rachat, faciliter le paiement des frais, conserver des liquidités en attente de
réinvestissement et fournir des liquidités et des garanties pour les contrats d’IFD.
Les actifs quasi-liquides peuvent comprendre des instruments du marché monétaire tels que des bons du Trésor américain, des obligations du Trésor et des dépôts bancaires. Il est prévu que les émetteurs et/ou garants
de tous ces titres et instruments auront une notation de crédit, au moment de l’achat, au moins égale à A1/P1 (ou son équivalent) publiée par une Agence de notation reconnue, ou seront jugés être d’une qualité équivalente par le Gestionnaire de portefeuille.

##### Indice de référence
L’indice JP Morgan GBI-EM Global Diversified Index (l’« Indice de référence »).
L’Indice de référence est un indice exhaustif regroupant les marchés émergents en devise locale mondiaux et se compose d’obligations d’État liquides en devises locales, à taux fixe, négociées régulièrement et auxquelles les
investisseurs internationaux peuvent accéder. Des informations supplémentaires sur l’Indice de référence sont disponibles ici :
https://etfdb.com/index/jpmorgan-government-bond- index-emerging-markets-global-diversified-index/.
L’Indice de référence est rééquilibré mensuellement ; toutefois, le Compartiment n’a pas pour objectif de suivre ou de reproduire l’Indice de référence et ne sera donc pas directement affecté par le rééquilibrage, les coûts associés ou la pondération des actions dans l’Indice de référence qui ne respecterait pas les restrictions d’investissement fixées.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Gestionnaire de portefeuille utilisera l’Indice de référence pour construire l’univers d’investissement. Le Compartiment est géré activement et ne vise pas à répliquer toutes les composantes de l’Indice de référence. Le Gestionnaire de portefeuille jouit d’un pouvoir discrétionnaire limité pour investir en dehors de l’Indice de référence sur la base de l’objectif et de la politique d’investissement.
La majorité des participations du Compartiment seront des composantes de l’Indice de référence et, par conséquent, le Compartiment sera exposé de manière
similaire aux différentes devises et aux différents secteurs. Toutefois, le Gestionnaire de portefeuille ne
cherchera pas à refléter le profil géographique ou d’échéance de l’Indice de référence.
La stratégie d’investissement permet d’obtenir une volatilité similaire à celle de l’Indice de référence sur le moyen et le long terme.

##### Stratégie d’investissement
Une approche descendante est utilisée pour construire un portefeuille basé sur l’Indice de référence qui fournit un « bêta efficace ». Le terme « Bêta » fait référence à l’acquisition de l’exposition de marché tandis que
« efficace » fait référence à l’atteinte du coefficient
« bêta » souhaité grâce aux décisions et stratégies d’investissement réfléchies et rentables du Gestionnaire de portefeuille.
Le Gestionnaire de portefeuille cherche à répartir efficacement le portefeuille, en surpondérant les segments offrant un rendement ajusté du risque
intéressant par rapport à l’Indice de référence. Le
Gestionnaire de portefeuille peut notamment choisir de
surpondérer certains Titres de créance et apparentés par rapport à l’Indice de référence et de sous-pondérer d’autres titres.
Le Gestionnaire de portefeuille utilise des stratégies qui visent à pallier les anomalies au sein de l’Indice de référence et de l’univers des titres de créance émergents en devises locales dans leur ensemble. L’application des règles de l’Indice de référence et d’une approche d’indexation standard se traduirait par des résultats négatifs de l’indice. De plus, les impôts locaux ont un
impact négatif sur la performance des investisseurs.
Notre approche « bêta efficace » vise à surmonter ces éléments.
Plus précisément, le Gestionnaire de portefeuille cherchera à surpondérer l’exposition aux segments de la courbe de rendement des pays qui offrent des taux d’intérêt comparativement plus élevés sur une période donnée à mesure que les Titres de créance et apparentés arrivent à échéance, et à sous-pondérer l’exposition aux segments de la courbe de rendement des pays qui offrent des taux d’intérêt plus bas sur cette même période. Ainsi, le Compartiment pourra détenir des positions en titres de créance et apparentés qu’il considère comme les plus efficaces en fonction des courbes de rendement des pays
concernés. Le Gestionnaire de portefeuille appliquera
également une gestion efficace de rotation des actifs. Il s’écartera des règles de rééquilibrage de l’Indice de référence afin de minimiser les frais de transaction. À mesure que le Compartiment s’écartera de l’Indice de référence en termes de positions, le Gestionnaire de
portefeuille utilisera des contrats de change à terme de sorte que l’exposition de change soit conforme à celle de l’Indice de référence.
À noter qu’au niveau des titres, les Titres de créance et apparentés seront choisis pour représenter les expositions par pays de l’Indice de référence. Le Compartiment ne sera pas nécessairement exposé à tout moment à tous les pays représentés dans l’Indice de référence et dans les mêmes proportions. Toutefois, ces
expositions constitueront, en soi, une exposition au bêta. En associant des stratégies qui corrigent les anomalies
détectées au sein de l’Indice de référence, le
Gestionnaire de portefeuille cherche à offrir une solution d’investissement à « bêta efficace » aux investisseurs.

##### Règlement sur la publication d’informations en matière de finance durable
Du fait de l’objectif d’investissement, le Gestionnaire de portefeuille dispose d’un pouvoir discrétionnaire limité pour s’écarter des caractéristiques et des expositions de l’Indice de référence. Ce pouvoir discrétionnaire lui permet, par exemple, d’investir dans des titres non inclus dans l’Indice de référence lorsque ces titres répondent aux exigences de l’Indice de référence et devraient à l’avenir être inclus dans l’Indice de référence, et
également de continuer à détenir des titres inclus dans l’Indice de référence au moment de l’achat, même s’ils sont ensuite retirés. L’Indice de référence ne prend pas en compte les facteurs ESG ni les risques en matière de
durabilité. Par conséquent, le Gestionnaire de portefeuille n’intègre pas les risques en matière de durabilité (qui sont définis comme un événement ou une condition ESG
qui, en cas de survenance, pourrait avoir un impact
négatif réel ou potentiel important sur la valeur de l’investissement concerné [un « Événement ESG »]) dans ses décisions d’investissement. Toutefois, en raison de la nature diversifiée du Compartiment, le Gestionnaire de
portefeuille a déterminé que le risque en matière de durabilité était minimal.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences
négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en
Bourse ou de gré à gré suivants, à des fins d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur obligations |
| --- | --- |
| Swaps | Swaps de taux d’intérêt Swaps d’inflation Swaps de rendement total (TRS) Swaps de devises croisées |
| Contrats à terme | Contrats de change à terme |
| Titres avec IFD intégrés/effet de levier | Titres convertibles conditionnels (CoCo) |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 100 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats à terme, et bons de
souscription. Le Compartiment peut aussi utiliser des
accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du
Prospectus intitulée « La Société – Gestion efficace de
portefeuille » pour de plus amples informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des OFT, c’est à
dire des accords de prêt de titres et des accords de
mise/prise en pension, comme décrit sous la rubrique
« Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et aux OFT correspondent respectivement à 100 % et 100 %
de sa Valeur liquidative. Il n’est toutefois pas prévu que
ces expositions respectives aux TRS et aux OFT excèdent 30 % et 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet de TRS et OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les TRS et les OFT, notamment les garanties acceptables et la procédure relative à la contrepartie, sont fournis aux rubriques du
Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties », « Annexe III – Recours à des accords de
mise/prise en pension et accords de prêt de titres »,
« Gestion efficace de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leurs Périodes d’offre initiale respectives à leurs prix d’offre initiale par Action respectifs, à savoir de 1 USD, 1 GBP, 1 EUR, 1 CHF,
10 DKK, 10 SEK, 10 NOK ou 1 CAD selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de souscription applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés trimestriellement, les
31 décembre, 31 mars, 30 juin et 30 septembre. En ce qui concerne les détenteurs d’Actions de distribution, les dividendes déclarés seront normalement versés au plus
tard le 11 février, le 11 mai, le 11 août et le 11 novembre,
respectivement. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.
Les commissions et frais liés à la constitution et à l’organisation du Compartiment, y compris les honoraires des conseillers professionnels du Compartiment seront
pris en charge par le Compartiment. Ces commissions et frais sont estimés à un maximum de 40 000 € et seront pris en charge par le Compartiment et amortis sur une
période de 4 ans à partir de son lancement.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Efficient U.S. Fallen Angels Beta Fund

### SUPPLÉMENT 52, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Il est proposé que les commissions de gestion et autres commissions et frais du Compartiment soient imputés au capital de ce dernier en vue de maximiser les distributions. Veuillez consulter la section « Commissions et frais » dans le Prospectus pour plus d’informations.
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Insight North America LLC

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section « La Société – Structure » du Prospectus.
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD A (Cap.) | USD | 5 000 | 5 % | 0,60 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 0,60 % | 0 % |
| Euro H (Cap.) (couverte) | EUR | 5 000 | 5 % | 0,60 % | 0 % |
| Euro H (Dist.) (couverte) | EUR | 5 000 | 5 % | 0,60 % | 0 % |
| DKK H (Cap.) (couverte) | DKK | 50 000 | 5 % | 0,60 % | 0 % |
| SEK H (Cap.) (couverte) | SEK | 50 000 | 5 % | 0,60 % | 0 % |
| NOK H (Cap.) (couverte) | NOK | 50 000 | 5 % | 0,60 % | 0 % |

| Actions « N » et Actions « N (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD N (Cap.) | USD | 5 000 | 5 % | 0,90 % | 0 % |
| USD N (Dist.) (M) | USD | 5 000 | 5 % | 0,90 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Euro N (Cap.) (couverte) | EUR | 5 000 | 5 % | 0,90 % | 0 % |
| Euro N (Dist.) (couverte) | EUR | 5 000 | 5 % | 0,90 % | 0 % |
| SGD N (Cap.) (couverte) | SGD | 5 000 | 5 % | 0,90 % | 0 % |
| SGD N (Dist.) (couverte) (M) | SGD | 5 000 | 5 % | 0,90 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 0,45 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 0,45 % | 0 % |
| Euro I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 0,45 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 0,45 % | 0 % |
| AUD I (Cap.) (couverte) | AUD | 5 000 000 | 5 % | 0,45 % | 0 % |
| AUD I (Dist.) (couverte) (M) | AUD | 5 000 000 | 5 % | 0,45 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,30 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,30 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,30 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,30 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,30 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,30 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,30 % | 0 % |
| DKK W (Cap.) (couverte) | DKK | 150 000 000 | 5 % | 0,30 % | 0 % |
| SEK W (Cap.) (couverte) | SEK | 150 000 000 | 5 % | 0,30 % | 0 % |
| NOK W (Cap.) (couverte) | NOK | 150 000 000 | 5 % | 0,30 % | 0 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD E (Cap.) | USD | Comme convenu | 5 % | 0,08 % | 0 % |
| USD E (Dist.) | USD | Comme convenu | 5 % | 0,08 % | 0 % |
| Euro E (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,08 % | 0 % |
| Euro E (Dist.) (couverte) | EUR | Comme convenu | 5 % | 0,08 % | 0 % |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,08 % | 0 % |
| Sterling E (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,08 % | 0 % |
| CHF E (Cap.) (couverte) | CHF | Comme convenu | 5 % | 0,08 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Euro X (Dist.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Cap.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Cap.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à générer un rendement supérieur à l’Indice de référence détaillé ci-dessous avec des niveaux de volatilité similaires à moyen et long terme
avant commissions et frais, tout en tenant compte des facteurs environnementaux, sociaux et de gouvernance (« ESG »).

##### Politique d’investissement
Le Compartiment vise à atteindre son objectif d’investissement en acquérant une exposition à des titres de créance et apparentés sous-jacents inclus dans
l’indice Bloomberg Barclays US HY Fallen Angel 3 % Cap Total Return Index Value Unhedged Index (l’« Indice de référence »).
Le Compartiment peut également investir dans des titres de créance et apparentés non inclus dans l’Indice de référence lorsque le titre concerné satisfait aux
exigences de l’Indice de référence et devrait y être inclus à l’avenir. Le Compartiment peut continuer de détenir des titres initialement inclus dans l’Indice de référence au moment de l’achat, même s’ils sont par la suite retirés,
que ce soit en raison de la perte de leur notation ou de
leur revalorisation à la qualité investment grade.
Le Compartiment peut investir dans des Titres de créance et apparentés de sociétés et de gouvernement à taux fixe, qui peuvent être émis en tant que titres 144A ou
Reg S, y compris des obligations, des débentures et des IFD, ci-après, les « Titres de créance et apparentés ». Les IFD sont énumérés ci-dessous sous la rubrique
« Utilisation d’IFD ».
Le Compartiment peut investir jusqu’à 40 % de sa Valeur liquidative dans des Titres de créance de créance et apparentés émis sous forme de titres 144A ou Reg S.
Le Compartiment peut acquérir une exposition à l’un quelconque des titres de créance et apparentés sous- jacents, à l’exception des titres convertibles conditionnels (« CoCo »). Bien que l’indice de référence
exclut les CoCo avec des éléments déclencheurs explicites (conformément aux règles d’inclusion de l’Indice de référence), il inclut les Titres de créance et apparentés qui peuvent être classés comme CoCo en
raison de leurs éléments déclencheurs implicites (ou discrétionnaires).
Les CoCo peuvent convertir les titres de créance en actions par le biais de déclencheurs explicites ou implicites (ou discrétionnaires) ; ceux-ci sont définis dans
les conditions générales de l’émission.
- Les CoCo avec déclencheurs explicites ont un seuil contractuel numérique créé par l’émetteur. En cas de dépassement du seuil, la conversion des titres decréance en actions est automatiquement déclenchée.
- Les CoCo avec déclencheurs implicites (ou discrétionnaires) ont un seuil contractuel nonnumérique qui est défini par un organisme régulateur et non par l’émetteur. En cas de dépassement du seuil, la conversion des titres de créance en actionsest déclenchée uniquement à la discrétion de cet organisme régulateur.

Veuillez consulter le « Répertoire des instruments de créance » pour la description des CoCo et du « Risque lié aux titres convertibles conditionnels (CoCo) » dans le Prospectus pour plus de détails sur les risques associés aux CoCo.
Actuellement, moins de 2 % des titres de créance et apparentés inclus dans l’Indice de Référence sont classés comme CoCo en raison de leurs déclencheurs
implicites (ou discrétionnaires). Ces classifications sont visibles par le Gestionnaire de portefeuille et signalées dans les systèmes de conformité établis par ce dernier comme des titres de créance et apparentés auxquels le Compartiment ne peut pas être exposé. Compte tenu du
niveau d’exposition de l’Indice de référence aux CoCo, l’exclusion de ces titres n’aura pas d’incidence sur la capacité du Compartiment à atteindre son objectif d’investissement.
Le Compartiment investira l’essentiel de sa Valeur liquidative dans des « fallen angels ». Les
« fallen angels » sont définis comme des Titres de créance et apparentés de qualité inférieure à investment grade qui étaient auparavant notés comme étant de qualité investment grade par une Agence de notation
reconnue au moment de l’achat. Les titres sont classés
dans la catégorie inférieure à investment grade si la
notation médiane de ces agences est Ba1/BB+/BB+ ou inférieure. Lorsque seules deux notations d’agences sont disponibles, la note la plus basse est utilisée ; dès lors qu’un titre est noté par une seule agence, cette note est utilisée. Les Titres de créance et apparentés qui ont été
rétrogradés à « non notés » ou reclassés dans la catégorie investment grade ne devraient pas dépasser 10 % de la Valeur liquidative du Compartiment.
Le Compartiment n’investira pas dans des titres émis par des entités qui répondent à l’un des critères ESG ci- dessous :
- tirent plus de 30 % de leurs revenus des sables bitumineux ou du charbon thermique ;
- sont réputées avoir reçu une note négative par rapport au critère environnemental clé, selon les données de tiers ;
- sont réputées enfreindre les principes du Pacte mondial des Nations Unies (y compris les principes environnementaux et les principes de gouvernance,dont ceux relatifs au travail, aux droits de l’homme età la lutte contre la corruption), selon les données detiers ;
- fabriquent des armes controversées ; ou
- tombent, selon les données de tiers, en dessous d’un score environnemental prédéfini jugé pertinent ouportant sur des questions clés liées au thème du changement climatique.

Les scores ESG sont fournis par des fournisseurs tiers (« Fournisseurs de données »), tels que MSCI,
Sustainalytics ou d’autres fournisseurs qui mesurent l’impact ESG des entreprises. Tous les émetteurs dans lesquels des investissements sont réalisés suivent les
bonnes pratiques de gouvernance définies dans les principes du Pacte mondial des Nations Unies.
Le Compartiment investira principalement directement dans les Titres de créance et apparentés sous-jacents
inclus dans l’Indice de référence, mais investira
également, à titre accessoire, dans des composantes de l’Indice de référence via des indices de swaps de défaut de crédit (« CDS »), comme indiqué dans la section
Indices financiers ci-dessous, et dans des organismes de placement collectif (« OPC »).
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans d’autres OPC à capital variable, y compris des fonds monétaires et des fonds négociés en
Bourse (« ETF » à capital variable.
Le Compartiment peut détenir des actifs liquides et quasi liquides dans certaines circonstances. Veuillez vous référer à la section « Gestion de la liquidité et des garanties » pour obtenir des informations plus détaillées.
Le Compartiment vise à investir dans des Titres de créance et apparentés libellés en dollars américains de
sociétés ou d’émetteurs de marchés développés sans
industrie ou secteur de prédilection particulier.
Néanmoins, le Compartiment peut parfois se concentrer
sur une industrie ou des secteurs particuliers en fonction de l’opportunité d’investissement identifiée par le Gestionnaire de portefeuille ou des secteurs/industries ciblés par l’Indice de référence.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative globale dans des valeurs mobilières qui ne sont pas admises ou négociées sur un Marché éligible,
conformément à la Réglementation OPCVM. À l’exception
des investissements autorisés dans des organismes de
placement collectif (OPC) à capital variable, les
investissements du Compartiment seront cotés ou négociés sur les Marchés éligibles listés dans l’Annexe II du Prospectus.

##### Gestion de la liquidité et des garanties
Le Compartiment détiendra des actifs liquides et quasi liquides dans certaines circonstances, telles que pour satisfaire aux demandes de rachat, faciliter le paiement des frais, conserver des liquidités en attente de
réinvestissement et fournir des liquidités et des garanties pour les contrats d’IFD.
Les actifs quasi-liquides peuvent comprendre des instruments du marché monétaire, tels que les bons du Trésor américain, certificats de dépôt, billets de trésorerie ou dépôts à terme, et des dépôts bancaires. Il
est prévu que les émetteurs et/ou garants de tous ces
titres et instruments auront une notation de crédit, au moment de l’achat, au moins égale à A1/P1 (ou son équivalent) publiée par une Agence de notation reconnue, ou seront jugés être d’une qualité équivalente par le Gestionnaire de portefeuille.

##### Indice de référence
L’indice Bloomberg Barclays US HY Fallen Angel 3 % Cap Total Return Index Value Unhedged (l’« Indice de référence »).
L’Indice de référence mesure la performance du marché des titres de créance américains « fallen angels », les différents émetteurs étant chacun plafonnés à 3 %.
L’Indice de référence est un indice pondéré par le marché
qui comprend des titres de créance à revenu fixe émis
par des sociétés américaines, comme décrit ci-dessus sous la rubrique « Titres de créance et apparentés ». Ces
titres étaient précédemment notés investment grade, tel que défini précédemment, et ont été inclus dans l’indice Bloomberg Barclays US Corporate Total Return Value Unhedged Index, avec des critères d’inclusion conformes aux lignes directrices définies par le fournisseur de l’indice.
Les titres rétrogradés à la catégorie inférieure à
investment grade sont alors désignés comme des titres Fallen Angels, puis inclus dans l’Indice de référence.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Gestionnaire de portefeuille utilisera l’Indice de référence pour construire l’univers d’investissement. Le Compartiment est géré activement et ne vise pas à répliquer toutes les composantes de l’Indice de référence. Le Gestionnaire de portefeuille dispose d’un pouvoir discrétionnaire limité pour investir en dehors de l’Indice de référence lorsque le titre concerné répond aux exigences de l’Indice de référence et devrait y être inclus à l’avenir.
La majorité des participations du Compartiment seront des composantes de l’Indice de référence et le Compartiment sera exposé de manière similaire en
termes de devise et de duration. Le Compartiment
présentera également les mêmes caractéristiques en termes d’expositions sectorielles et de profil de qualité de crédit, sous réserve de contraintes d’investissement.
Le Compartiment ne cherchera pas à refléter le profil d’échéance de l’Indice de référence.
La stratégie d’investissement permet d’obtenir une volatilité similaire à celle de l’Indice de référence sur le moyen ou long terme.

##### Stratégie d’investissement
Une approche systématique et disciplinée est utilisée pour construire un portefeuille basé sur l’Indice de référence qui fournit un « bêta efficace ». Le terme
« Bêta » fait référence à l’acquisition de l’exposition de marché tandis que « efficace » fait référence à l’atteinte du coefficient « bêta » souhaité grâce aux décisions et stratégies d’investissement réfléchies et rentables du
Gestionnaire de portefeuille.
Le Compartiment investira dans des « fallen angels » tel que défini dans la politique d’investissement et utilisera cet univers de titres pour construire le portefeuille.
Dans le processus de construction du portefeuille, une
sélection de Titres de créance et apparentés sera choisie dans l’univers d’investissement par le Gestionnaire de portefeuille. Le Gestionnaire de portefeuille cherche d’abord à surpondérer les obligations qui ont été rétrogradées au cours des 12 derniers mois, en se concentrant d’abord sur les Titres de créance et apparentés les plus récemment rétrogradés, puis
potentiellement jusqu’à 24 mois. Le Gestionnaire de portefeuille cherche également à atténuer l’exposition aux « fallen angels » récemment déchus dont les
fondamentaux se détériorent rapidement. Il vendrait ainsi toute obligation dont la notation tomberait de BBB à CCC ou à un niveau inférieur dans les 2 mois. Le Gestionnaire
de portefeuille limitera également l’exposition générale
aux Titres de créance et apparentés qui ont été
rétrogradés 24 mois plus tôt ou plus et qui ont une échéance longue, car ces Titres de créance et apparentés sont jugés par le Gestionnaire de portefeuille comme présentant une opportunité de risque/rendement moins
intéressante par rapport à l’univers d’investissement
restant.
Le Gestionnaire de portefeuille examinera ensuite les caractéristiques de rendement/écart, de risque, de secteur et de qualité de crédit et choisira les Titres de créance et apparentés de telle sorte que les paramètres globaux, le risque, le secteur et la qualité des avoirs du
Compartiment soient cohérents avec le processus d’investissement, sous réserve de la sélection des titres. L’application du modèle de crédit exclusif du Gestionnaire de portefeuille détaille le processus de
sélection de titres. Ce modèle de crédit évalue et classe l’univers d’investissement en recueillant des informations sur les marchés financiers et les bilans des entreprises
pour aider à identifier la valeur appropriée à laquelle les Titres de créance et apparentés devraient se négocier. Ainsi, le modèle aide le Gestionnaire de portefeuille à identifier les Titres de créance et apparentés susceptibles de sous-performer par rapport à des titres de créance et apparentés similaires. Le Gestionnaire de portefeuille sous-pondérera ces Titres de créance et apparentés.
Le Gestionnaire de portefeuille appliquera des stratégies d’allocation efficaces pour gérer le portefeuille de manière rentable et réfléchie. Par exemple, le
Gestionnaire de portefeuille peut détenir des Titres de créance et apparentés qui ne sont plus inclus dans
l’Indice de référence, et dont la vente entraînerait des
frais de transaction inutiles.
Le Gestionnaire de portefeuille cherchera à couvrir la duration au niveau de l’Indice de référence, afin de gérer le risque de taux d’intérêt, plafonner la pondération des émetteurs à 7 % et limiter l’exposition aux titres notés CCC à 10 %. Le portefeuille variera au fil du temps, car le
Gestionnaire de portefeuille devra ajuster la composition des participations du Compartiment pour répondre à
l’Objectif d’investissement.
Les caractéristiques environnementales et sociales promues par le Compartiment consistent à atténuer les
pratiques préjudiciables pour l’environnement (y compris
celles qui peuvent contribuer au changement climatique telles que l’extraction des sables bitumineux et du charbon thermique), à réduire la production d’armes controversées et à promouvoir des pratiques
commerciales responsables telles que définies par les principes du Pacte mondial des Nations Unies.
Lors de l’identification des investissements qui permettent au Compartiment de promouvoir les
caractéristiques environnementales ou sociales, le Gestionnaire de portefeuille :
- évaluera l’adéquation globale d’un émetteur sur la base du score ESG fourni par un Fournisseur de données reconnu ; et
- éliminera les émetteurs en fonction de leurs scores ESG ainsi que de leur implication dans certaines industries ou certains secteurs, comme détaillé ci- après.

Le Compartiment cherchera à exclure certains émetteurs sur la base de critères ESG. Les émetteurs jugés avoir des scores ESG plus faibles (par exemple, une faible notation ESG concernant les thèmes liés au changement
climatique, les émissions de carbone, l’empreinte
carbone) peuvent être exclus. Les émetteurs dont les revenus proviennent principalement d’activités ou de produits considérés comme inappropriés pour le
Compartiment (par exemple, les émetteurs qui tirent plus de 30 % de leurs revenus des sables bitumineux ou du charbon thermique, ou qui fabriquent des armes controversées) peuvent également être exclus. En associant les stratégies détaillées ci-dessus, le
Gestionnaire de portefeuille cherche à fournir une solution d’investissement à « bêta efficace » aux investisseurs, qui leur offrira un rendement supérieur à l’Indice de référence à moyen et long terme.
Le Gestionnaire de portefeuille intègre les facteurs ci- dessus dans son processus systématique de sélection de titres et de construction de portefeuille. Les résultats du processus de filtrage et de construction de portefeuille sont constamment contrôlés et examinés, et le
Gestionnaire de portefeuille examine régulièrement l’impact de chaque facteur ESG sur l’univers d’investissement.

##### Règlement sur la publication d’informations en matière de finance durable
Le Compartiment intègre le risque de durabilité dans ses décisions d’investissement et promeut des caractéristiques environnementales ou sociales et investit dans des entreprises qui font état d’une bonne gouvernance au sens de l’Article 8 du règlement SFDR.
La gestion du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents, il évalue le risque qu’un événement ou une
condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
À l’aide de processus quantitatifs, le risque en matière de durabilité est identifié, contrôlé et géré par le Gestionnaire de portefeuille de la manière suivante :
–	Avant d’acquérir des investissements pour le compte du Compartiment, le Gestionnaire de portefeuille utilise les indicateurs ESG du Fournisseur de
données afin d’évaluer l’investissement pertinent par
rapport au risque en matière de durabilité et d’identifier sa vulnérabilité à cet égard. Ce processus comprend l’application d’une politique d’exclusion (selon laquelle les investissements potentiels
peuvent être retirés de l’univers d’investissement sur la base d’un risque en matière de durabilité trop élevé pour le Compartiment).
–	Pendant la durée de vie de l’investissement, le risque en matière de durabilité est contrôlé en examinant les données ESG publiées par l’émetteur (le cas échéant) ou le fournisseur de données tiers
sélectionné (« Fournisseur de données »), tel que MSCI, Sustainalytics ou d’autres fournisseurs qui mesurent l’impact ESG des entreprises, afin de déterminer si le niveau de risque en matière de
durabilité a changé depuis la réalisation de l’évaluation initiale. Cet examen est effectué de manière continue. Si le risque en matière de
durabilité associé à un investissement particulier augmente au-delà de la propension au risque ESG du Compartiment, le Gestionnaire de portefeuille
envisagera de vendre ou de réduire l’exposition du Compartiment à l’investissement concerné, en tenant compte au mieux des intérêts des Actionnaires du
Compartiment.
Comme expliqué ci-dessus, la gestion et l’évaluation des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours possible qu’un Événement ESG ait une incidence négative
importante sur la valeur d’un Compartiment.
L’Indice de référence ne prend pas en compte les facteurs ESG et n’est pas utilisé pour déterminer le degré de conformité de ses composantes aux caractéristiques
environnementales ou sociales promues par le Compartiment.
Pour plus d’informations sur la manière dont le Compartiment vise à promouvoir les caractéristiques environnementales ou sociales et évalue les bonnes
pratiques de gouvernance des émissions, veuillez consulter les sections du Supplément intitulées
« Politique d’investissement » et « Stratégie d’investissement ».
Le Gestionnaire a prudemment évalué les exigences du régime des principales incidences négatives prévu à
l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire
soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs
de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du
régime en matière de reporting. Le Gestionnaire continue d’analyser les données disponibles qui seraient nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Bien que ce Compartiment relève de l’Article 8 en vertu du SFDR et promeuve des caractéristiques environnementales et sociales, tel que déterminé après
filtrage des émetteurs sur la base de leurs scores ESG,
ses investissements sous-jacents ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins
d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur obligations |
| --- | --- |
| Swaps | Swaps de défaut de crédit (sur valeur individuelle et indice [CDS]) |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne peut pas accéder
directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (CDS) utilisés pour offrir une exposition à des marchés de titres à revenu fixe mondiaux d’une manière plus rentable ou efficace qu’avec l’achat de titres physiques. | Markit CDX North American High Yield |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Toutefois, le Compartiment n’ayant pas pour objectif de répliquer ou de suivre ces indices, il ne sera pas directement impacté
par le rééquilibrage, les coûts associés ou toute
pondération en actions des indices qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices mentionnés ci-dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement qui n’est pas indiqué dans la liste
ci-dessus, des informations détaillées, notamment sur le marché qu’il représente et des références pour obtenir des informations supplémentaires, seront présentées
dans les comptes semestriels et annuels de la Société.

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 100 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats à terme, et bons de
souscription. Le Compartiment peut aussi utiliser des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Accords de prêt de titres
Ce Compartiment n’aura pas recours aux accords de prêt de titres et peut donc renoncer à tout rendement supplémentaire pouvant être généré par ces activités.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de mise/prise en pension, comme décrit ci- dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la
contrepartie sont fournis aux rubriques du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 EUR, 1 GBP, 1 CHF, 1 SGD, 10 DKK,
10 SEK, 10 NOK, 1 CAD ou 1 AUD, selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) portant le suffixe « (M) », les dividendes seront normalement déclarés chaque mois, le dernier Jour
ouvrable du mois. Concernant les détenteurs d’Actions de
distribution mensuelle, les dividendes déclarés leur
seront versés au plus tard le 20 du mois suivant. Dans le cas de toutes les autres catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les
dividendes seront normalement déclarés trimestriellement, les 31 décembre, 31 mars, 30 juin et
30 septembre. En ce qui concerne les détenteurs d’Actions de distribution, les dividendes déclarés seront normalement versés au plus tard le 11 février, le 11 mai,
le 11 août et le 11 novembre, respectivement. De plus amples informations sont disponibles à la section « La
Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.
Les commissions et frais liés à la constitution et à l’organisation du Compartiment, y compris les honoraires des conseillers professionnels du Compartiment seront
pris en charge par le Compartiment. Ces commissions et frais sont estimés à un maximum de 30 000 € et seront pris en charge par le Compartiment et amortis sur une
période de 3 ans à partir de son lancement.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Efficient Global High Yield Beta Fund

### SUPPLÉMENT 53, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Il est proposé que les commissions de gestion et autres commissions et frais du Compartiment soient imputés au capital de ce dernier en vue de maximiser les distributions. Veuillez consulter la section « Commissions et frais » dans le Prospectus pour plus d’informations.
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Insight North America LLC

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section « La Société – Structure » du Prospectus.
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD A (Cap.) | USD | 5 000 | 5 % | 0,40 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 0,40 % | 0 % |
| Euro H (Cap.) (couverte) | EUR | 5 000 | 5 % | 0,40 % | 0 % |
| Euro H (Dist.) (couverte) | EUR | 5 000 | 5 % | 0,40 % | 0 % |
| DKK H (Cap.) (couverte) | DKK | 50 000 | 5 % | 0,40 % | 0 % |
| SEK H (Cap.) (couverte) | SEK | 50 000 | 5 % | 0,40 % | 0 % |
| NOK H (Cap.) (couverte) | NOK | 50 000 | 5 % | 0,40 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 0,30 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 0,30 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Euro I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 0,30 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 0,30 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,20 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,20 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,20 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,20 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,20 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,20 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,20 % | 0 % |
| DKK W (Cap.) (couverte) | DKK | 150 000 000 | 5 % | 0,20 % | 0 % |
| SEK W (Cap.) (couverte) | SEK | 150 000 000 | 5 % | 0,20 % | 0 % |
| NOK W (Cap.) (couverte) | NOK | 150 000 000 | 5 % | 0,20 % | 0 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD E (Cap.) | USD | Comme convenu | 5 % | 0,10 % | 0 % |
| USD E (Dist.) | USD | Comme convenu | 5 % | 0,10 % | 0 % |
| Euro E (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,10 % | 0 % |
| Euro E (Dist.) (couverte) | EUR | Comme convenu | 5 % | 0,10 % | 0 % |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,10 % | 0 % |
| Sterling E (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,10 % | 0 % |
| CHF E (Cap.) (couverte) | CHF | Comme convenu | 5 % | 0,10 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Cap.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Cap.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à fournir des performances et des niveaux de volatilité similaires à ceux de l’indice de référence (détaillé ci-dessous) à moyen et long terme
avant déduction des commissions et frais.

##### Politique d’investissement
Le Compartiment vise à atteindre son objectif d’investissement en acquérant une exposition aux titres de créance et apparentés sous-jacents inclus dans
l’indice Bloomberg Barclays Global High Yield Corporate USD Hedged Total Return Index (l’« Indice de
référence »).
Le Compartiment peut également investir dans des titres de créance ou titres apparentés non inclus dans l’Indice de référence lorsque d’autres titres de l’émetteur des titres concernés sont déjà inclus dans l’Indice de référence ou lorsque le titre de créance ou titre apparenté investi satisfait aux exigences de l’Indice de
référence et devrait y être inclus à l’avenir. Cela permet au Compartiment d’acheter des titres lors de leur première émission plutôt que d’attendre qu’ils soient ajoutés à l’Indice de référence. Le Compartiment peut
continuer de détenir des titres initialement inclus dans l’Indice de référence au moment de l’achat, même s’ils sont par la suite retirés.
Le Compartiment peut investir dans des Titres de créance et apparentés d’entreprise à taux fixe, qui peuvent être émis en tant que titres 144A ou Reg S, y compris des
obligations, des débentures et des IFD, ci-après, les
« Titres de créance et apparentés ». Les IFD sont énumérés ci-dessous sous la rubrique « Utilisation
d’IFD ».
Le Compartiment peut investir jusqu’à 90 % de sa Valeur liquidative dans des Titres de créance de créance et apparentés émis sous forme de titres 144A ou Reg S.
Le Compartiment peut acquérir une exposition à l’un quelconque des titres de créance et apparentés sous- jacents de l’Indice de référence, à l’exception des titres convertibles conditionnels (« CoCo »). Bien que l’indice de
référence exclut les CoCo avec des éléments
déclencheurs explicites (conformément aux règles d’inclusion de l’Indice de référence), il inclut les Titres de créance et apparentés qui peuvent être classés comme
CoCo en raison de leurs éléments déclencheurs implicites (ou discrétionnaires).
Les CoCo peuvent convertir les titres de créance en actions par le biais de déclencheurs explicites ou implicites (ou discrétionnaires) ; ceux-ci sont définis dans
les conditions générales de l’émission.
- Les CoCo avec déclencheurs explicites ont un seuil contractuel numérique créé par l’émetteur. En cas de dépassement du seuil, la conversion des titres decréance en actions est automatiquement déclenchée.
- Les CoCo avec déclencheurs implicites (ou discrétionnaires) ont un seuil contractuel nonnumérique qui est défini par un organisme régulateur et non par l’émetteur. En cas de dépassement du seuil, la conversion des titres de créance en actionsest déclenchée uniquement à la discrétion de cet organisme régulateur.

Veuillez consulter le « Répertoire des instruments de créance » pour la description des CoCo et du « Risque lié aux titres convertibles conditionnels (CoCo) » dans le Prospectus pour plus de détails sur les risques associés aux CoCo.
Actuellement, moins de 2 % des titres de créance et apparentés inclus dans l’Indice de Référence sont classés comme CoCo en raison de leurs déclencheurs
implicites (ou discrétionnaires). Ces classifications sont visibles par le Gestionnaire de portefeuille et signalées dans les systèmes de conformité établis par ce dernier comme des titres de créance et apparentés auxquels le
Compartiment ne peut pas être exposé. Compte tenu du niveau d’exposition de l’Indice de référence aux CoCo, l’exclusion de ces titres n’aura pas d’incidence sur la capacité du Compartiment à atteindre son objectif
d’investissement.
Le Compartiment investira l’essentiel de sa Valeur liquidative dans des Titres de créance et apparentés à
haut rendement de qualité inférieure à investment grade, comme notés par une Agence de notation reconnue au
moment de l’achat. Les titres sont classés dans la
catégorie inférieure à investment grade si la notation
médiane de ces agences est Ba1/BB+/BB+ ou inférieure. Lorsque seules deux notations d’agences sont disponibles, la note la plus basse est utilisée ; dès lors qu’un titre est noté par une seule agence, cette note est utilisée. Le Compartiment peut continuer de détenir des
Titres de créance et apparentés qui sont rétrogradés et perdent leur notation ou qui sont revalorisés à la notation
investment grade après l’achat. Les titres de créance et
apparentés qui ne sont pas notés ou qui sont notés
investment grade ne devraient pas dépasser 10 % de la Valeur liquidative du Compartiment.
Le Compartiment investira principalement directement dans les Titres de créance et apparentés sous-jacents
inclus dans l’Indice de référence, mais investira
également, à titre accessoire, dans des composantes de l’Indice de référence via des indices de swaps de défaut de crédit (« CDS »), comme indiqué dans la section
Indices financiers ci-dessous, et dans des organismes de placement collectif (« OPC »).
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans d’autres OPC à capital variable, y compris des fonds monétaires et des fonds négociés en
Bourse (« ETF » à capital variable.
Le Compartiment peut détenir des actifs liquides et quasi liquides dans certaines circonstances. Veuillez vous référer à la section « Gestion de la liquidité et des garanties » pour obtenir des informations plus détaillées.
Le Compartiment vise à investir dans le monde entier, sans industrie ou secteur de prédilection particulier ; cependant, il pourra parfois se concentrer sur des industries ou secteurs géographiques spécifiques, y compris les États-Unis, en fonction des opportunités
d’investissement identifiées par le Gestionnaire de portefeuille ou des secteurs/industries ciblés par l’Indice de référence.
Le Compartiment peut investir jusqu’à 20 % de sa Valeur liquidative dans des marchés émergents, dont près de 10 % dans des actions russes cotées ou négociées à la
Bourse de Moscou.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative globale dans des valeurs mobilières qui ne sont pas admises ou négociées sur un Marché éligible,
conformément à la Réglementation OPCVM. À l’exception
des investissements autorisés dans des organismes de
placement collectif (OPC) à capital variable, les investissements du Compartiment seront cotés ou
négociés sur les Marchés éligibles listés dans l’Annexe II
du Prospectus.
Bien que sa devise de référence soit l’USD, le Compartiment pourra investir dans des actifs non libellés en USD qui seront couverts en USD par le biais d’IFD sur devises. Les IFD sur devises qui peuvent être utilisés par
le Compartiment à des fins de couverture sont décrits plus en détail dans le Prospectus, dans la section intitulée « Techniques et instruments financiers dérivés ».

##### Gestion de la liquidité et des garanties
Le Compartiment détiendra des actifs liquides et quasi liquides dans certaines circonstances, telles que pour satisfaire aux demandes de rachat, faciliter le paiement des frais, conserver des liquidités en attente de
réinvestissement et fournir des liquidités et des garanties pour les contrats d’IFD.
Les actifs quasi-liquides peuvent comprendre des instruments du marché monétaire tels que des bons du Trésor américain, des obligations du Trésor et des dépôts bancaires. Il est prévu que les émetteurs et/ou garants de tous ces titres et instruments auront une notation de
crédit, au moment de l’achat, au moins égale à A1/P1 (ou
son équivalent) publiée par une Agence de notation reconnue, ou seront jugés être d’une qualité équivalente par le Gestionnaire de portefeuille.

##### Indice de référence
L’indice Bloomberg Barclays Global High Yield Corporate Bond USD Hedged TR Index (l’« Indice de référence »).
L’Indice de référence mesure la performance du marché mondial de la dette à haut rendement. L’Indice de référence est un indice pondéré du marché qui comprend des Titres de créance d’entreprise à revenu fixe émis par
des sociétés du monde entier, comme décrit ci-dessus
sous la rubrique « Titres de créance et apparentés ». Ces Titres de créance sont de qualité inférieure à investment grade au moment de leur émission, comme défini
précédemment, et auront une échéance minimale d’au moins un an ainsi qu’un encours d’émission minimal, conformément aux directives fixées par le fournisseur d’indices. L’Indice de référence est rééquilibré mensuellement ; toutefois, le Compartiment n’a pas pour objectif de suivre ou de reproduire l’Indice de référence et ne sera donc pas directement affecté par le
rééquilibrage, les coûts associés ou la pondération des actions dans l’Indice de référence qui ne respecterait pas les restrictions d’investissement fixées. Vous trouverez ici des informations supplémentaires sur la famille d’indices à laquelle appartient l’Indice de référence :
https://data.bloomberglp.com/indices/sites/2/2016/08/ Factsheet-Global-High-Yield.pdf
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Gestionnaire de portefeuille utilisera l’Indice de référence pour construire l’univers d’investissement. Le Compartiment est géré activement et ne vise pas à répliquer toutes les composantes de l’Indice de référence. Le Gestionnaire de portefeuille jouit d’un pouvoir discrétionnaire limité pour investir en dehors de l’Indice de référence sur la base de l’objectif et de la politique d’investissement.
La majorité des participations du Compartiment seront des composantes de l’Indice de référence et, par conséquent, le Compartiment sera exposé de manière
similaire aux différentes devises et aux différents secteurs, et présentera également un profil similaire en
matière d’échéance et de qualité de crédit.
La stratégie d’investissement restreint la mesure dans laquelle les participations du portefeuille peuvent s’écarter de l’Indice de référence et, par conséquent, la mesure dans laquelle le Fonds peut surclasser l’Indice de référence. La stratégie d’investissement permet d’obtenir une volatilité similaire à celle de l’Indice de référence sur le moyen ou long terme.

##### Stratégie d’investissement
Une approche descendante est utilisée pour construire un portefeuille basé sur l’Indice de référence qui fournit un « bêta efficace ». Le terme « Bêta » fait référence à l’acquisition de l’exposition de marché tandis que
« efficace » fait référence à l’atteinte du coefficient
« bêta » souhaité grâce aux décisions et stratégies d’investissement réfléchies et rentables du Gestionnaire de portefeuille.
Dans le processus de construction du portefeuille, une
sélection de Titres de créance et apparentés sera choisie à partir de l’Indice de référence par le Gestionnaire de portefeuille en examinant les caractéristiques de
rendement/écart, de risque, de secteur et de qualité de crédit des composantes de l’Indice de référence et en sélectionnant des Titres de créance et apparentés de
telle sorte que les critères agrégés de rendement/écart, risque, secteur et qualité des avoirs du Compartiment
correspondent étroitement à ceux de l’Indice de référence
et que le Compartiment conserve un coefficient bêta de 1 par rapport à l’Indice de référence. Le maintien d’un bêta de 1 signifie que le Compartiment reflète la performance globale et la volatilité de l’Indice de Référence. Lorsque la sélection de Titres de créance et apparentés à partir de l’Indice de référence ne permet pas au Compartiment de maintenir un coefficient bêta de 1, le Gestionnaire de
portefeuille peut investir dans des Indices CDS ou des organismes de placement collectif (OPC) pour garantir que le portefeuille dans son ensemble conserve un
coefficient de bêta de 1 par rapport à l’Indice de
référence. Le portefeuille variera au fil du temps, car le
Gestionnaire de portefeuille devra ajuster la composition
des participations du Compartiment pour répondre à l’Objectif d’investissement.
L’application du modèle de crédit propriétaire du Gestionnaire de portefeuille affine le processus de
sélection de titres. Ce modèle de crédit évalue et classe les titres de l’univers d’investissement en collectant des informations sur les marchés financiers et les bilans des
entreprises pour aider à identifier la valeur appropriée à laquelle un Titre de créance ou titre apparenté devrait se négocier. Il intègre également des indicateurs fondamentaux tels que la qualité des bénéfices (marge brute et rentabilité) et la révision des bénéfices. Le Gestionnaire de portefeuille intègre les informations du
modèle de crédit dans le processus de sélection des actifs et dans son suivi permanent de l’univers investissable. Ainsi, le modèle permet au Gestionnaire d’investissement d’identifier les Titres de créance ou apparentés présentant une probabilité plus élevée de
dégradation, de défaut ou de sous-performance par rapport à l’Indice de référence. Le Gestionnaire de portefeuille s’assurera alors que l’exposition du Compartiment à ces Titres de créance ou titres
apparentés sera égale ou inférieure à la pondération de ces Titres de créance ou apparentés dans l’Indice de référence.
Le Gestionnaire de portefeuille s’efforcera d’appliquer des stratégies de rotation efficaces pour gérer le portefeuille de manière rentable. Par exemple, il pourra détenir des
Titres de créance ou titres apparentés ayant été retirés de l’Indice de référence, mais dont la vente entraînerait des frais de négociation inutiles. Bien que le Gestionnaire
de portefeuille recherche un rendement qui reflète celui de l’Indice de référence à moyen et long terme, il n’a pas pour objectif de répliquer l’Indice de référence au jour le jour. Cela signifie qu’il ne se concentre pas sur l’écart de
suivi du Compartiment par rapport à l’Indice de référence et qu’il n’a pas à prendre de mesures destinées à minimiser l’écart de suivi en question. Au contraire, en associant des stratégies qui corrigent les anomalies détectées au sein de l’Indice de référence, le Gestionnaire de portefeuille cherche à offrir une solution d’investissement à « bêta efficace » aux investisseurs.

##### Règlement sur la publication d’informations en matière de finance durable
Du fait de l’objectif d’investissement, le Gestionnaire de portefeuille dispose d’un pouvoir discrétionnaire limité pour s’écarter des caractéristiques et des expositions de l’Indice de référence. Ce pouvoir discrétionnaire lui permet, par exemple, d’investir dans des titres non inclus dans l’Indice de référence lorsque ces titres répondent aux exigences de l’Indice de référence et devraient à l’avenir être inclus dans l’Indice de référence, et
également de continuer à détenir des titres inclus dans l’Indice de référence au moment de l’achat, même s’ils sont ensuite retirés. L’Indice de référence ne prend pas en compte les facteurs ESG ni les risques en matière de
durabilité. Par conséquent, le Gestionnaire de portefeuille n’intègre pas les risques en matière de durabilité (qui sont définis comme un événement ou une condition ESG
qui, en cas de survenance, pourrait avoir un impact négatif réel ou potentiel important sur la valeur de
l’investissement concerné [un « Événement ESG »]) dans ses décisions d’investissement. Toutefois, en raison de la nature diversifiée du Compartiment, le Gestionnaire de
portefeuille a déterminé que le risque en matière de durabilité était minimal.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences
négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins
d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur obligations |
| --- | --- |
| Swaps | Swaps de défaut de crédit (sur valeur individuelle et indice [CDS]) |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne peut pas accéder
directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | Markit iTraxx Europe (crossover) Markit CDX North American High Yield |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Toutefois,
sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages, les coûts associés ou la
pondération des actions de l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 100 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps et contrats à terme. Le Compartiment
peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la
contrepartie sont fournis aux rubriques du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leurs Périodes d’offre initiale respectives à leurs prix d’offre initiale par Action respectifs, à savoir de 1 USD, 1 GBP, 1 EUR, 1 CHF,
10 DKK, 10 SEK, 10 NOK ou 1 CAD selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de souscription applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action
de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant, applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés trimestriellement, les
31 décembre, 31 mars, 30 juin et 30 septembre. En ce qui concerne les détenteurs d’Actions de distribution, les dividendes déclarés seront normalement versés au plus
tard le 11 février, le 11 mai, le 11 août et le 11 novembre,
respectivement. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.
Les commissions et frais liés à la constitution et à l’organisation du Compartiment, y compris les honoraires des conseillers professionnels du Compartiment seront
pris en charge par le Compartiment. Ces commissions et frais sont estimés à un maximum de 30 000 € et seront pris en charge par le Compartiment et amortis sur une
période de 3 ans à partir de son lancement.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## Responsible Horizons Euro Corporate Bond Fund

### SUPPLÉMENT 54, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».


#### Gestionnaire de portefeuille
Insight Investment Management (Global) Limited

#### Devise de référence
Euro

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les
tableaux ci-après et se différencient par leur devise de référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR A (Cap.) | EUR | 5 000 | 5 % | 0,95 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 0,95 % | 0 % |
| USD H (Cap.) (couverte) | USD | 5 000 | 5 % | 0,95 % | 0 % |
| USD H (Dist.) (couverte) | USD | 5 000 | 5 % | 0,95 % | 0 % |
| DKK H (Cap.) (couverte) | DKK | 50 000 | 5 % | 0,95 % | 0 % |
| SEK H (Cap.) (couverte) | SEK | 50 000 | 5 % | 0,95 % | 0 % |
| NOK H (Cap.) (couverte) | NOK | 50 000 | 5 % | 0,95 % | 0 % |

| Actions « G » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 0,45 % | 0 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 0,45 % | 0 % |

| Actions « C » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro C (Cap.) | EUR | 5 000 000 | 5 % | 0,45 % | 0 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 0,45 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,35 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,35 % | 0 % |
| USD W (Cap.) (couverte) | USD | 15 000 000 | 5 % | 0,35 % | 0 % |
| USD W (Dist.) (couverte) | USD | 15 000 000 | 5 % | 0,35 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,35 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,35 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,35 % | 0 % |
| DKK W (Cap.) (couverte) | DKK | 15 000 000 | 5 % | 0,35 % | 0 % |
| SEK W (Cap.) (couverte) | SEK | 15 000 000 | 5 % | 0,35 % | 0 % |
| NOK W (Cap.) | NOK | 150 000 000 | 5 % | 0,35 % | 0 % |

| Actions « Z » et Actions « Z (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro Z (Cap.) | EUR | 200 000 000 | 5 % | 0,25 % | 0 % |
| Euro Z (Dist.) | EUR | 200 000 000 | 5 % | 0,25 % | 0 % |
| USD Z (Cap.) (couverte) | USD | 200 000 000 | 5 % | 0,25 % | 0 % |
| USD Z (Dist.) (couverte) | USD | 200 000 000 | 5 % | 0,25 % | 0 % |
| Sterling Z (Cap.) (couverte) | GBP | 200 000 000 | 5 % | 0,25 % | 0 % |
| Sterling Z (Dist.) (couverte) | GBP | 200 000 000 | 5 % | 0,25 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Cap.) (couverte) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) (couverte) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Cap.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Cap.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à générer un rendement total constitué d’un revenu et d’une croissance du capital en investissant principalement dans une gamme étendue de
titres de créance et apparentés ainsi que d’IFD sur ces titres, tout en tenant compte des facteurs environnementaux, sociaux et de gouvernance (« ESG »).

##### Politique d’investissement
Le Compartiment investira la majorité de ses actifs
(c’est-à-dire au moins 51 % de sa Valeur liquidative) dans des titres de créance d’entreprise de qualité investment
grade à taux fixe ou flottant. Le Compartiment investit principalement (c’est-à-dire au moins 70 % de sa Valeur liquidative) dans des titres de créance et apparentés
libellés en euro.
Les titres de créance et apparentés dans lesquels le Compartiment peut investir comprennent des billets de sociétés à taux fixe et variable, des Obligations convertibles, des Titres convertibles conditionnels
(« CoCo »), des Obligations couvertes, des Obligations rachetables par anticipation sur option du porteur
(« Puttable »), des Obligations remboursables par anticipation sur option de l’émetteur (« Callable »), des Débentures (obligations non garanties), des Obligations à
coupon zéro ainsi que des Euro-obligations et des Obligations bullet (remboursement in fine), des
Obligations d’organisations supranationales, des Obligations d’organismes gouvernementaux, des obligations d’État à taux fixe et variable, des Obligations municipales, des Obligations indexées et des Obligations indexées sur l’inflation (« OII ») ainsi que des instruments du marché monétaire (tels que des certificats de dépôts,
des billets de trésorerie et des dépôts à un jour) et des IFD apparentés (comme détaillé sous la section
« Utilisation des IFD » ci-dessous), ci-après désignés
« Titres de créance et apparentés ».
Veuillez vous reporter aux sections « Risque lié aux produits structurés », « Risques liés aux titres à revenu
fixe » et « Risques liés aux investissements en obligations avec remboursement anticipé à l’option du porteur (puttable) ou de l’émetteur (callable) » du Prospectus pour tous détails concernant les risques
rattachés aux obligations couvertes, aux obligations bullet, et aux obligations callable et puttable.
Le Compartiment peut exposer jusqu’à 5 % de sa Valeur liquidative aux CoCo. Veuillez consulter la section du
Prospectus intitulée « Risque lié aux titres convertibles conditionnels (« CoCo ») pour plus de détails sur les risques associés aux CoCo.
Le Compartiment investira dans des Titres de créance et apparentés de qualité investment grade notés par une Agence de notation reconnue. Les Titres de créance et
apparentés sont classés dans la catégorie investment grade si, au moment de l’achat, la notation moyenne du titre est supérieure à Ba1/BB+/BB+. Le Compartiment peut en outre investir jusqu’à 20 % dans des Titres de créance et apparentés de qualité inférieure à investment
grade.
Le Compartiment n’investira pas dans des Titres de créance et apparentés assortis, à la date de leur achat, d’une note inférieure à B- (ou son équivalent), telle qu’attribuée par une Agence de notation reconnue. Afin de lever toute ambiguïté, le Compartiment n’investira pas dans des titres adossés à des créances hypothécaires, des titres adossés à des actifs ou d’autres instruments
liés à un risque de crédit. Le Compartiment peut investir
dans des Titres de créance et apparentés non notés, à condition que le Gestionnaire de portefeuille les juge de
qualité équivalente, comme indiqué ci-dessus. En cas de divergence de notation (c’est-à-dire si différentes notations sont attribuées par deux agences de notation
ou plus), la plus basse des deux notations les plus élevées sera prise en considération. Si un Titre de créance ou apparenté détenu par le Compartiment est subséquemment dégradé en dessous des limites susmentionnées, le Gestionnaire de portefeuille pourra maintenir une exposition au titre en question, à concurrence maximale de 3 % de sa Valeur liquidative. Si
la valeur totale de ces titres ou instruments dépasse 3 %
de la Valeur liquidative du Compartiment, tout titre ou instrument qui n’a pas été revalorisé dans un délai de six mois sera vendu. Les expositions découlant de participations sous-jacentes d’organismes de placement collectif (« OPC ») seront prises en compte dans l’application des restrictions énoncées dans le présent paragraphe.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des OPC à capital variable, y compris des
fonds négociés en Bourse (« ETF ») et des fonds monétaires. Les OPC peuvent inclure un ou plusieurs
autres Compartiments de la Société ou d’autres fonds
conseillés par le Gestionnaire de portefeuille. Tout
investissement dans des ETF à capital fixe constitué de valeurs mobilières sera effectué conformément aux
critères et aux limites d’investissement applicables aux
valeurs mobilières, comme exposé au chapitre « La Société – Restrictions en matière d’investissement et d’emprunt » du Prospectus.
Le Compartiment peut également détenir des niveaux élevés de liquidités et d’instruments du marché monétaire dans certaines circonstances. Veuillez vous
référer à la section « Gestion de la liquidité et des garanties » pour obtenir des informations plus détaillées.
Le Compartiment vise à investir dans le monde entier, sans industrie ou secteur de prédilection particulier ; cependant, il pourra parfois se concentrer sur des
régions géographiques ou des secteurs particuliers en fonction de l’opportunité d’investissement identifiée par le Gestionnaire de portefeuille. Certains secteurs seront
évités en raison de la prise en compte de certains facteurs ESG.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des marchés émergents, dont près de 10 % dans des actions russes cotées ou négociées à la
Bourse de Moscou.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative globale dans des valeurs mobilières (c’est-à- dire des Titres de créance et apparentés) qui ne sont pas
admises ou négociées sur un Marché éligible, conformément à la Réglementation OPCVM. À l’exception des investissements autorisés dans des valeurs
mobilières non cotées et dans des instruments du marché monétaire approuvés, les investissements du Compartiment doivent être cotés ou négociés sur des
Marchés éligibles. Une liste des Marchés éligibles est exposée à l’Annexe II du Prospectus.
Bien que sa devise de référence soit l’EUR, le Compartiment peut investir dans des actifs non libellés en EUR, qui ne sont pas nécessairement couverts en EUR
par le biais d’IFD sur devises.

##### Gestion de la liquidité et des garanties
Le Compartiment détiendra des actifs liquides et quasi liquides dans certaines circonstances, telles que pour satisfaire aux demandes de rachat, faciliter le paiement des frais, conserver des liquidités en attente de réinvestissement et fournir des garanties pour les
contrats d’IFD. Dans des circonstances exceptionnelles,
le Compartiment peut détenir temporairement des niveaux élevés de liquidités et d’actifs quasi liquides (jusqu’à 100 % de sa Valeur liquidative), lorsque les conditions de marché requièrent l’adoption d’une stratégie d’investissement défensive (par exemple, un
krach boursier ou une crise majeure).
Les actifs quasi-liquides peuvent inclure les instruments du marché monétaire et les dépôts bancaires. Il est prévu que les émetteurs et/ou garants de tous ces titres et instruments auront une notation de crédit, au moment de
l’achat, au moins égale à A1/P1 (ou son équivalent)
publiée par une Agence de notation reconnue, ou seront jugés être d’une qualité équivalente par le Gestionnaire de portefeuille.

##### Indice de référence
L’indice Bloomberg Barclays Euro Aggregate Corporate Total Return (l’« Indice de référence »)
L’Indice de référence inclut des obligations d’entreprise à taux fixe libellées en euro de qualité investment grade, La sélection repose sur la devise de l’émission, et non sur le lieu de domiciliation de l’émetteur.
Des informations supplémentaires sur l’Indice de référence sont disponibles ici :
https://www.bloomberg.com/quote/LECPTREU:IND
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que le Gestionnaire de portefeuille a tout pouvoir pour investir
en dehors de l’Indice de référence sur la base de son objectif et de sa politique d’investissement. Cependant, du fait que l’Indice de référence couvre une part importante de l’univers d’investissement, la majorité des
participations du Compartiment seront des composantes de l’Indice de référence. Les pondérations du portefeuille pourront également être similaires à celles de l’Indice de référence. La stratégie d’investissement limitera la mesure dans laquelle les participations du portefeuille peuvent s’écarter de l’Indice de référence et, par conséquent, la mesure dans laquelle le Compartiment peut surclasser l’Indice de référence.
L’Indice de référence est un indice de marché général qui ne prend pas en compte les facteurs ESG et n’est pas utilisé pour déterminer le degré de conformité de ses
composantes aux caractéristiques environnementales ou sociales promues par le Compartiment.

##### Stratégie d’investissement
La stratégie d’investissement du Compartiment conjugue analyse macroéconomique descendante et recherche de
crédit ascendante, lesquelles sont menées en interne par le Gestionnaire de portefeuille.
L’analyse descendante consiste à :
- appréhender l’environnement macroéconomique actuel et futur, relativement aux niveaux d’emploi, à l’inflation, aux taux d’intérêt, et à l’éventuel impact de ces facteurs sur les titres de créance etapparentés ainsi que sur les devises. Cette analyse est affinée à l’aide d’un certain nombre de sources d’informations, dont notamment les publications de données économiques, les déclarations des banquescentrales en matière de politique monétaire et l’analyse des données historiques ;et
- analyser les différentes classes d’actifs qui composent les investissements du Compartiment, c’est-à-dire le crédit, la dette des marchés émergents et les obligations d’État, afin d’évaluerleur potentiel de génération de rendement.

La recherche et l’analyse de crédit ascendantes impliquent une évaluation de la solvabilité de l’émetteur et intègrent une analyse des indicateurs de crédit clés, tels que l’endettement et le flux de trésorerie. La recherche et l’analyse de crédit peuvent également être complétées par une évaluation de la valeur relative des instruments de créance de l’émetteur par rapport à des
instruments de créance comparables. Cette approche vise à identifier, à l’échelle mondiale et sans ciblage géographique ou sectoriel spécifique, les investissements
présentant un potentiel de rendement total notable.
Une fois cette analyse achevée, le Gestionnaire de portefeuille peut décider de l’allocation des actifs du Compartiment, c’est-à-dire du pourcentage des actifs à investir dans les différentes classes d’actifs. Le Gestionnaire de portefeuille peut prendre en
considération des facteurs comme les dépenses et la facilité d’implantation liées aux différentes stratégies d’investissement qu’il pourrait décider de mettre en œuvre et au type d’exposition qu’il pourrait adopter, p. ex., privilégier les IFD ou OPC plutôt que l’achat direct
des actifs.
La sélection des différents titres est effectuée avec la contribution des équipes de crédit du Gestionnaire de portefeuille, qui sont spécialisées dans des secteurs ou des industries spécifiques, p. ex., les
télécommunications, l’automobile, la technologie, la fabrication et les obligations d’État.
Les positions courtes synthétiques sont généralement utilisées :
- pour couvrir les positions longues de marché, par exemple si le Gestionnaire de portefeuille souhaiteréduire l’exposition du Compartiment au risque de crédit par rapport à celui de l’Indice de référence ;
- pour couvrir les positions longues sur valeurindividuelle, par exemple lorsque le Gestionnaire de portefeuille souhaite réduire le risque de crédit d’une obligation d’entreprise particulière, mais peut ne pas être en mesure de vendre l’obligation à un prix intéressant ; ou
- pour obtenir des rendements positifs et prendre position sur l’évolution du marché, par exemple lorsque le Gestionnaire de portefeuille estime que le prix de certaines obligations d’entreprise pourrait chuter et souhaite réaliser un rendement sur cetteévolution de prix.

Afin d’évaluer ses investissements, le Compartiment s’appuiera également sur des études ESG externes et/ou internes ainsi que sur des analyses de crédit
ascendantes et des évaluations de valeur relative (telles que détaillées ci-dessus).
Les caractéristiques promues par ce Compartiment comprendront une allocation positive aux émetteurs bénéficiant de notations ESG plus fortes (meilleures), tout en excluant les émetteurs bénéficiant de notations ESG plus faibles (moins bonnes). Parmi les autres
caractéristiques promues par ce Compartiment, figurent l’élimination de l’exposition aux émetteurs dont les activités commerciales ou opérationnelles sont
considérées par le Gestionnaire de Portefeuille comme présentant des risques environnementaux, sociaux ou de réputation excessifs.
Lors de l’identification des investissements qui permettent au Compartiment de promouvoir les caractéristiques ESG, le Gestionnaire de portefeuille
examine et exclut certains instruments et émetteurs à
partir de critères ESG afin de créer un univers d’investissement réduit et optimisé sur le plan ESG. Au sein de cet univers d’investissement, le Gestionnaire de portefeuille effectue une réallocation positive vers les
émetteurs ESG les mieux notés. Le Gestionnaire de portefeuille effectuera également une allocation structurelle vers les instruments et les émetteurs à
impact positif, et ciblera une intensité carbone inférieure au niveau de l’Indice de référence.
Vous trouverez des informations plus détaillées ci-après :
- Score ESG : le Gestionnaire de portefeuille évalue l’adéquation globale d’un émetteur sur la base du score ESG :
	- fourni par un fournisseur reconnu de notations ESG ; ou
	- basé sur une évaluation interne d’un émetteur Les données ESG permettent au Gestionnaire deportefeuille de comprendre les profils de risque ESG et, le cas échéant, d’exclure les participations inappropriées sur la base de cette analyse. Lesscores ESG sont déterminés afin de distinguer les entreprises à risque élevé des entreprises à faible risque en vue de créer une répartition des scores illustrant ce différentiel.


Cependant, le Compartiment peut construire une
exposition à des émetteurs impliqués dans les secteurs qui tiennent compte de l’environnement, lesquels sont exposés au risque de changement
climatique ou à forte intensité carbone (p. ex. l’extraction de charbon, la production d’énergie à base de charbon, l’extraction de pétrole et de gaz
non conventionnels) sous réserve que l’exposition soit
obtenue via des Obligations dites à impact avec
usage des fonds levés, que le Gestionnaire de portefeuille estime que l’émetteur dispose d’un plan de long terme clairement défini pour gérer son
impact environnemental et que le Gestionnaire de portefeuille juge que l’instrument émis répond à ses critères ESG.
Le Gestionnaire de portefeuille dépend des informations et des données de tiers (qui peuvent inclure des informations fournies par des services de recherche, des rapports, des résultats de filtrages,
notations ou d’analyses tels que produits par les fournisseurs d’indices et les consultants). Ces informations ou données peuvent s’avérer
incomplètes, inexactes ou incohérentes.
- Filtrage : le Compartiment cherche à obtenir une exposition à des émetteurs affichant des scores ESG plus élevés. Les émetteurs jugés avoir des scores ESG plus faibles (par exemple, en raison de risques carbone élevés et/ou de violations graves des normes internationalement acceptées, dont, entre autres, celles en matière de corruption, des droits du travailou de l’impact environnemental) seront exclus. Les émetteurs seront également exclus lorsqu’une part significative de leurs revenus provient de produitsconsidérés comme inappropriés pour le Compartiment sur la base de leur orientation ESG(par exemple, le tabac, le secteur de la défense, les jeux d’argent et l’extraction de charbon).

Au moins 90 % des instruments détenus dans le Compartiment doivent répondre à ces critères au moment
de l’achat et sur une base continue, et aucun
investissement ne sera effectué dans un instrument lié à une société réputée avoir des problèmes environnementaux importants et insolubles.
Le Compartiment pourra vendre les instruments qui ne répondent toujours pas à ces critères après l’achat ou décider de les conserver après que le Gestionnaire de portefeuille aura enquêter auprès de l’émetteur pour discerner les risques identifiés par l’évaluation ESG.
La gouvernance d’entreprise est un facteur de risque clé en matière de durabilité pris en considération dans les évaluations de risque ESG effectuées en interne pour
toutes les sociétés investies par le Compartiment. Dans le cadre de son processus d’évaluation de la gouvernance d’entreprise, le Gestionnaire de portefeuille analyse les pratiques, le comportement, la rémunération, le contrôle, les responsabilités et l’éthique du conseil d’administration ainsi que les controverses dont il fait l’objet. Le Gestionnaire de portefeuille utilise les résultats des évaluations ESG, en plus de ses propres
connaissances des structures de gouvernance des émetteurs, pour fixer des priorités d’engagement avec ces derniers. Le Gestionnaire de portefeuille examine ces
risques dans leur ensemble afin de décider si les titres obligataires compensent raisonnablement le Compartiment pour les risques en matière de durabilité à long et court terme.

##### Règlement sur la publication d’informations en matière de finance durable
Le Compartiment intègre le risque de durabilité dans ses décisions d’investissement et promeut des caractéristiques environnementales ou sociales et investit dans des entreprises qui font état d’une bonne gouvernance au sens de l’Article 8 du règlement SFDR.
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents, il évalue le risque qu’un événement ou une
condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Les risques en matière de durabilité sont inclus dans le programme d’investissement responsable du Gestionnaire de portefeuille et sont gérés en veillant à ce que les décideurs de haut rang soient informés et à l’aide des procédures efficaces de responsabilisation, de transparence et d’application. Lorsque les questions de risque en matière de durabilité sont considérées comme importantes pour les résultats d’investissement, elles
sont intégrées aux processus d’étude préalable. Cette
mesure peut inclure l’évaluation de titres individuels et/ ou l’interaction avec des émetteurs ou des acteurs du marché. Les contrôles internes garantissent que les
critères ESG sont appliqués en permanence au Compartiment. Les restrictions ESG, qui comprennent des notations ESG attribuées en interne et des données de tiers, sont destinées à empêcher ou permettre
l’investissement dans certains titres en fonction de leurs
caractéristiques ESG. Ces contrôles sont codés et mis à
jour à mesure que de nouvelles informations sont reçues et intégrées. Un processus de recherche et/ou
d’engagement ESG peut aider le Gestionnaire de portefeuille à atteindre les objectifs d’investissement et ESG ciblés du Compartiment.
Comme détaillé dans la section intitulée « Stratégie d’investissement », la gouvernance d’entreprise est un facteur de risque clé en matière de durabilité et fait
partie du processus de notation des risques ESG interne appliqué à tous les émetteurs.
En termes de facteurs sociaux et environnementaux, la méthode interne de notation ESG fournit à tous les
analystes des informations spécifiques au secteur et à l’émetteur sur des questions clés. Ce modèle aide le Gestionnaire de portefeuille à identifier les risques clés
auxquels un secteur ou un émetteur spécifique peut être confronté.
Étant donné que le Compartiment prend en compte les facteurs ESG tout au long du processus d’investissement, le Gestionnaire de portefeuille peut délibérément
renoncer à investir dans certains émetteurs et choisir de vendre un titre alors qu’il pourrait être désavantageux de le faire. Au lieu de cela, le Compartiment peut se concentrer sur des investissements au sein d’émetteurs ayant de bonnes pratiques environnementales, sociales et de gouvernance. L’univers d’investissement du Compartiment est par conséquent plus petit que celui
des autres fonds, ce qui peut affecter sa performance. Il est par ailleurs toujours possible qu’un Événement ESG ait une incidence négative sur sa valeur.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure
actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les Critères d’examen technique (« CET » du Règlement sur la taxonomie de l’UE exigeront la disponibilité de plusieurs points de données spécifiques concernant
chaque investissement. À la date des présentes, le Gestionnaire ne dispose pas de données suffisamment fiables, opportunes et vérifiables pour pouvoir évaluer les
investissements du Compartiment à l’aide des TSC.
Par ailleurs, les normes techniques réglementaires du SFDR qui définissent la méthode de calcul de la part des produits financiers (tels que le portefeuille du Compartiment) alignés sur le Règlement sur la taxonomie
de l’UE ainsi que les modèles de communication des
informations requises ne sont pas encore définitivement établis. À la date des présentes, le Gestionnaire n’est pas en mesure de fournir des données normalisées et comparables permettant d’évaluer l’alignement des investissements du Compartiment au sens du Règlement sur la taxonomie de l’UE.
Bien que certains investissements du Compartiment appartiennent à des activités économiques qui
contribuent à un objectif environnemental et pourraient faire l’objet d’une évaluation mesurée à l’aide des TSC, le Gestionnaire n’a pas actuellement la possibilité de décrire :
- la mesure dans laquelle les investissements du Compartiment sont réalisés dans des Activités économiques durables sur le plan environnemental ;
- la proportion, en pourcentage de la taille du portefeuille du Compartiment, d’investissements réalisés dans des Activités économiques durables surle plan environnemental ;
- les proportions respectives, en pourcentage de la taille du portefeuille du Compartiment, des investissements réalisés dans des Activités habilitantes et des Activités transitoires au sens duRèglement sur la taxonomie de l’UE ;Le Gestionnaire suit activement l’évolution de la situation et fournira, dès qu’il disposera de données suffisamment précises, fiables et vérifiables sur les investissements duCompartiment, les informations auxquelles il est fait référence ci-dessus. Le Prospectus et le Supplément correspondant seront alors actualisés en conséquence.


#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en
Bourse ou de gré à gré suivants, à des fins d’investissement :
| Contrats | Contrats à terme standardisés sur taux d’intérêt (y |
| --- | --- |
| à terme | compris à court terme) |
| standar- |  |
| disés | Contrats à terme standardisés sur obligations d’État |
|  | Contrats à terme standardisés sur obligations |
| Options | Options sur indices Options sur contrats à terme standardisés de taux d’intérêt Options sur obligations Options sur contrats à terme standardisés d’obligations Swaptions Options sur swaps de défaut de crédit |
| Swaps | Swaps de défaut de crédit Indice/panier de swaps de défaut de crédit Swaps de taux d’intérêt Swaps d’inflation Swaps d’actifs Swaps sur indices Swaps de rendement total (TRS) (sur valeur individuelle, crédit, indice et panier personnalisé) |
| Titres | Obligations convertibles |
| avec IFD | Titres convertibles conditionnels (CoCo) |
| intégrés/ | Obligations avec remboursement anticipé à l’option du |
| effet de levier | détenteur (puttable) ou de l’émetteur (callable) |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les
indices à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | Markit iTraxx Europe Main 5 ans Markit iTraxx Europe Crossover 5 ans Markit iTraxx Europe Senior Financials 5 ans Markit iTraxx Europe Subordinated Financials 5 ans |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Toutefois,
sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages, les coûts associés ou la
pondération des actions de l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

##### Positions longues et courtes
Le Compartiment peut construire des expositions synthétiques longues et synthétiques courtes dans
chacune des classes d’actifs référencées dans la Politique d’investissement pour atteindre son objectif d’investissement. L’exposition longue nette totale (après prise en compte de la couverture) par le biais d’IFD ne
dépassera pas 100 % de la Valeur liquidative du Compartiment et l’exposition nette courte totale ne dépassera pas non plus 100 % de la Valeur liquidative du Compartiment (en utilisant l’approche par les engagements).

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 100 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats à terme, et bons de
souscription. Le Compartiment peut aussi utiliser des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Accords de prêt de titres
Ce Compartiment n’aura pas recours aux accords de prêt de titres et peut donc renoncer à tout rendement supplémentaire pouvant être généré par ces activités.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des OFT, c’est à
dire des accords de mise/prise en pension, comme décrit
sous la rubrique « Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et aux OFT correspondent respectivement à 30 % et 100 %
de sa Valeur liquidative. Il n’est toutefois pas prévu que
ces expositions respectives aux TRS et aux OFT excèdent 20 % et 30 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet de TRS et OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la
contrepartie sont fournis aux rubriques du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra
automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 EUR, 1 USD, 1 GBP, 1 CHF, 10 DKK, 10 SEK,
10 NOK ou 1 CAD selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés trimestriellement, les
31 décembre, 31 mars, 30 juin et 30 septembre. En ce qui concerne les détenteurs d’Actions de distribution, les dividendes déclarés seront normalement versés au plus
tard le 11 février, le 11 mai, le 11 août et le 11 novembre,
respectivement. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.
Les commissions et frais liés à la constitution et à l’organisation du Compartiment, y compris les honoraires des conseillers professionnels du Compartiment seront
pris en charge par le Compartiment. Ces commissions et frais sont estimés à un maximum de 40 000 € et seront pris en charge par le Compartiment et amortis sur une
période de 4 ans à partir de son lancement.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Efficient Euro High Yield Beta Fund

### SUPPLÉMENT 55, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Il est proposé que les commissions de gestion et autres commissions et frais du Compartiment soient imputés au capital de ce dernier en vue de maximiser les distributions. Veuillez consulter la section « Commissions et frais » dans le Prospectus pour plus d’informations.
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Insight North America LLC

#### Devise de référence
Euro

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section « La Société – Structure » du Prospectus.
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR A (Cap.) | EUR | 5 000 | 5 % | 0,40 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 0,40 % | 0 % |
| USD H (Cap.) (couverte) | USD | 5 000 | 5 % | 0,40 % | 0 % |
| USD H (Dist.) (couverte) | USD | 5 000 | 5 % | 0,40 % | 0 % |
| DKK H (Cap.) (couverte) | DKK | 50 000 | 5 % | 0,40 % | 0 % |
| SEK H (Cap.) (couverte) | SEK | 50 000 | 5 % | 0,40 % | 0 % |
| NOK H (Cap.) (couverte) | NOK | 50 000 | 5 % | 0,40 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 0,30 % | 0 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 0,30 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro C (Cap.) | EUR | 5 000 000 | 5 % | 0,30 % | 0 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 0,30 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,20 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,20 % | 0 % |
| USD W (Cap.) (couverte) | USD | 15 000 000 | 5 % | 0,20 % | 0 % |
| USD W (Dist.) (couverte) | USD | 15 000 000 | 5 % | 0,20 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,20 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,20 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,20 % | 0 % |
| DKK W (Cap.) (couverte) | DKK | 150 000 000 | 5 % | 0,20 % | 0 % |
| SEK W (Cap.) (couverte) | SEK | 150 000 000 | 5 % | 0,20 % | 0 % |
| NOK W (Cap.) (couverte) | NOK | 150 000 000 | 5 % | 0,20 % | 0 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro E (Cap.) | EUR | Comme convenu | 5 % | 0,10 % | 0 % |
| Euro E (Dist.) | EUR | Comme convenu | 5 % | 0,10 % | 0 % |
| USD E (Cap.) (couverte) | USD | Comme convenu | 5 % | 0,10 % | 0 % |
| USD E (Dist.) (couverte) | USD | Comme convenu | 5 % | 0,10 % | 0 % |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,10 % | 0 % |
| Sterling E (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,10 % | 0 % |
| CHF E (Cap.) (couverte) | CHF | Comme convenu | 5 % | 0,10 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Cap.) (couverte) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) (couverte) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Cap.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Dist.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à fournir des performances et des niveaux de volatilité similaires à ceux de l’Indice de référence (détaillé ci-dessous) à moyen et long terme
avant déduction des commissions et frais.

##### Politique d’investissement
Le Compartiment vise à atteindre son objectif d’investissement en acquérant une exposition aux Titres de créance et apparentés sous-jacents inclus dans l’indice Bloomberg Barclays Pan-European High Yield
(Euro) Total Return Index (l’« Indice de référence »).
Le Compartiment peut également investir dans des titres de créance ou titres apparentés non inclus dans l’Indice de référence lorsque d’autres titres de l’émetteur des titres concernés sont déjà inclus dans l’Indice de référence ou lorsque le titre de créance ou titre apparenté investi satisfait aux exigences de l’Indice de référence et devrait y être inclus à l’avenir. Le Compartiment peut continuer de détenir des titres initialement inclus dans l’Indice de référence au moment de l’achat, même s’ils sont par la suite retirés. Le Compartiment n’investira pas dans des titres de créance ou apparentés des marchés émergents.
Le Compartiment peut investir dans des Titres de créance et apparentés d’entreprise à taux fixe, qui peuvent être émis en tant que titres 144A ou Reg S, y compris des
obligations, des débentures et des IFD, ci-après, les
« Titres de créance et apparentés ». Les IFD sont
énumérés ci-dessous sous la rubrique « Utilisation d’IFD ».
Le Compartiment peut acquérir une exposition à l’un quelconque des titres de créance et apparentés sous- jacents, à l’exception des titres convertibles conditionnels (« CoCo »). Bien que l’indice de référence
exclut les CoCo avec des éléments déclencheurs explicites (conformément aux règles d’inclusion de l’Indice de référence), il inclut les Titres de créance et apparentés qui peuvent être classés comme CoCo en
raison de leurs éléments déclencheurs implicites (ou discrétionnaires).
Les CoCo peuvent convertir les titres de créance en actions par le biais de déclencheurs explicites ou implicites (ou discrétionnaires) ; ceux-ci sont définis dans
les conditions générales de l’émission.
- Les CoCo avec déclencheurs explicites ont un seuil contractuel numérique défini par l’émetteur. En cas de dépassement du seuil, la conversion des titres decréance en actions est automatiquement déclenchée.
- Les CoCo avec déclencheurs implicites (ou discrétionnaires) ont un seuil contractuel non numériquequi est défini par un organisme régulateur et non par l’émetteur. En cas de dépassement du seuil, la conversion des titres de créance en actions estdéclenchée uniquement à la discrétion de cet organisme régulateur.

Veuillez consulter le « Répertoire des instruments de créance » pour la description des CoCo et du « Risque lié aux titres convertibles conditionnels (CoCo) » dans le Prospectus pour plus de détails sur les risques associés aux CoCo.
Actuellement, moins de 2 % des titres de créance et apparentés inclus dans l’Indice de Référence sont classés comme CoCo en raison de leurs déclencheurs
implicites (ou discrétionnaires). Ces classifications sont visibles par le Gestionnaire de portefeuille et signalées dans les systèmes de conformité établis par ce dernier comme des titres de créance et apparentés auxquels le
Compartiment ne peut pas être exposé. Compte tenu du niveau d’exposition de l’Indice de référence aux CoCo, l’exclusion de ces titres n’aura pas d’incidence sur la
capacité du Compartiment à atteindre son objectif d’investissement.
Le Compartiment investira l’essentiel de sa Valeur liquidative dans des Titres de créance et apparentés de
qualité inférieure à investment grade, comme notés par une Agence de notation reconnue au moment de l’achat. Les titres sont classés dans la catégorie inférieure à
investment grade si la notation médiane de ces agences est Ba1/BB+/BB+ ou inférieure. Lorsque seules deux
notations d’agences sont disponibles, la note la plus basse est utilisée ; dès lors qu’un titre est noté par une seule agence, cette note est utilisée. Le Compartiment
peut continuer de détenir des Titres de créance et apparentés qui sont rétrogradés et perdent leur notation ou qui sont revalorisés à la notation investment grade
après l’achat. Les Titres de créance et apparentés qui ne
sont pas notés ou qui sont revalorisés ne devraient pas
dépasser 10 % de la Valeur liquidative du Compartiment.
Le Compartiment investira principalement directement
dans les Titres de créance et apparentés sous-jacents inclus dans l’Indice de référence, mais investira également, à titre accessoire, dans des composantes de l’Indice de référence via des indices de swaps de défaut de crédit (« CDS »), comme indiqué dans la section
Indices financiers ci-dessous, et dans des organismes de placement collectif (« OPC »).
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans d’autres OPC à capital variable, y compris des fonds monétaires et des fonds négociés en
Bourse (« ETF » à capital variable.
Le Compartiment peut détenir des actifs liquides et quasi liquides dans certaines circonstances. Veuillez vous référer à la section « Gestion de la liquidité et des garanties » pour obtenir des informations plus détaillées.
Le Compartiment vise à investir dans des Titres de créance et apparentés libellés en euros par des émetteurs basés sur des marchés développés. Le Compartiment peut parfois être axé sur un secteur
d’activité particulier en fonction des opportunités d’investissement définies par le Gestionnaire d’investissement ou du secteur ciblé par l’Indice de référence.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative globale dans des valeurs mobilières qui ne
sont pas admises ou négociées sur un Marché éligible, conformément à la Réglementation OPCVM. À l’exception des investissements autorisés dans des organismes de
placement collectif (OPC) à capital variable, les investissements du Compartiment seront cotés ou
négociés sur les Marchés éligibles listés dans l’Annexe II
du Prospectus.

##### Gestion de la liquidité et des garanties
Le Compartiment détiendra des actifs liquides et quasi liquides dans certaines circonstances, telles que pour satisfaire aux demandes de rachat, faciliter le paiement
des frais, conserver des liquidités en attente de
réinvestissement et fournir des liquidités et des garanties pour les contrats d’IFD.
Les actifs quasi-liquides peuvent comprendre des instruments du marché monétaire tels que des bons du Trésor américain, des obligations du Trésor et des dépôts bancaires. Il est prévu que les émetteurs et/ou garants
de tous ces titres et instruments auront une notation de crédit, au moment de l’achat, au moins égale à A1/P1 (ou son équivalent) publiée par une Agence de notation reconnue, ou seront jugés être d’une qualité équivalente par le Gestionnaire de portefeuille.

##### Indice de référence
L’indice Bloomberg Barclays Pan-European High Yield (Euro) Total Return Index (l’« Indice de référence »).
L’Indice de référence est un outil de mesure du marché pour les Titres de créance d’entreprise à haut rendement et à taux fixe libellés en euros et émis par des émetteurs basés sur des marchés développés. L’Indice de référence
comprend les Titres de créance et apparentés d’émetteurs de secteurs tels que l’industrie et les services publics et financiers. L’Indice de référence est rééquilibré chaque mois ; toutefois, le Compartiment n’a pas pour objectif de suivre ou de reproduire l’Indice de
référence et ne sera donc pas directement affecté par le
rééquilibrage, les coûts associés ou les fluctuations de pondération des actions dans l’Indice de référence, qui dépasseraient les restrictions d’investissement autorisées.
Des informations supplémentaires sur l’Indice de référence sont disponibles ici :
https://www.bloomberg.com/quote/LP02TREU:IND
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Gestionnaire de portefeuille utilisera l’Indice de référence pour construire l’univers d’investissement. Le Compartiment est géré activement et ne vise pas à répliquer toutes les composantes de l’Indice de référence. Le Gestionnaire de portefeuille jouit d’un pouvoir discrétionnaire limité pour investir en dehors de l’Indice de référence sur la base de l’objectif et de la politique d’investissement.
La majorité des participations du Compartiment seront des composantes de l’Indice de référence et, par conséquent, le Compartiment sera exposé de manière
similaire aux différentes devises et aux différents secteurs, et présentera également un profil similaire en
matière d’échéance et de qualité de crédit.
La stratégie d’investissement restreint la mesure dans laquelle les participations du portefeuille peuvent s’écarter de l’Indice de référence et, par conséquent, la mesure dans laquelle le Fonds peut surclasser l’Indice de référence. La stratégie d’investissement permet d’obtenir une volatilité similaire à celle de l’Indice de référence sur le moyen ou long terme.

##### Stratégie d’investissement
Une approche descendante est utilisée pour construire un portefeuille basé sur l’Indice de référence qui fournit un « bêta efficace ». Le terme « Bêta » fait référence à l’acquisition de l’exposition de marché tandis que
« efficace » fait référence à l’atteinte du coefficient
« bêta » souhaité grâce aux décisions et stratégies d’investissement réfléchies et rentables du Gestionnaire de portefeuille.
Dans le cadre du processus de construction du portefeuille, le Gestionnaire d’investissement effectuera une sélection de Titres de créance et apparentés à partir de l’Indice de référence en examinant les caractéristiques de rendement/écart, risque, secteur et qualité de crédit des composantes de l’Indice de référence et en sélectionnant des Titres de créance et apparentés de
telle sorte que les critères agrégés de rendement/écart, risque, secteur et qualité des avoirs du Compartiment et
de son bêta correspondent étroitement à ceux de l’Indice
de référence (et que le Compartiment conserve un bêta de 1 par rapport à l’indice en question). Le maintien d’un bêta de 1 signifie que le Compartiment reflète la performance globale et la volatilité de l’Indice de Référence. Si la sélection de Titres de créance et apparentés à partir de l’Indice de référence ne permet pas au Compartiment de maintenir un bêta de 1 par rapport à l’Indice de référence, le Gestionnaire
d’investissement pourra investir dans des Indices CDS ou
des organismes de placement collectif pour garantir ce
niveau. Le portefeuille variera au fil du temps, car le Gestionnaire de portefeuille devra ajuster la composition des participations du Compartiment pour répondre à
l’Objectif d’investissement.
L’application du modèle de crédit propriétaire du Gestionnaire de portefeuille affine le processus de sélection de titres. Ce modèle de crédit évalue et classe
les titres de l’univers d’investissement en collectant des
informations sur les marchés financiers et les bilans des
entreprises pour aider à identifier la valeur appropriée à laquelle un Titre de créance ou titre apparenté devrait se négocier. Il intègre également des indicateurs fondamentaux tels que la qualité des bénéfices (marge brute et rentabilité) et la révision des bénéfices. Le Gestionnaire de portefeuille intègre les informations du modèle de crédit dans le processus de sélection des
actifs et dans son suivi permanent de l’univers
investissable. Ainsi, le modèle permet au Gestionnaire d’investissement d’identifier les Titres de créance ou apparentés présentant une probabilité plus élevée de
dégradation, de défaut ou de sous-performance par rapport à l’Indice de référence. Le Gestionnaire d’investissement s’assurera, en surveillant étroitement l’Indice de référence et les processus décrits ci-dessus, que l’exposition du Compartiment aux Titres de créance
et apparentés soit égale ou inférieure à la pondération de ces Titres de créance et apparentés dans l’Indice de référence.
L’indice sur swaps de défaut de crédit mentionné ci- dessous est utilisé comme un moyen d’obtenir une exposition de marché indirecte (jusqu’à 10 % de la Valeur liquidative du Compartiment) aux composantes de l’Indice de référence par le biais d’un panier de swaps de défaut
de crédits européens de qualité inférieure à investment grade. Il s’agit d’un moyen d’obtenir une exposition au marché plus rapidement et à moindre coût qu’avec l’achat ou la vente d’obligations en numéraire. Cette exposition indirecte s’effectue par le biais de l’emploi d’IFD à des fins d’investissement. Au fur et à mesure que les marchés évoluent, le Gestionnaire d’investissement utilise l’indice de swaps de défaut de crédit mentionné
ci-dessous (voir la rubrique « Indices financiers ») pour ajuster le portefeuille global et conserver ainsi un bêta de
1 par rapport à l’Indice de référence.
Le Gestionnaire de portefeuille s’efforcera d’appliquer des stratégies de rotation efficaces pour gérer le portefeuille
de manière rentable. Par exemple, il pourra détenir des Titres de créance ou titres apparentés ayant été retirés
de l’Indice de référence, mais dont la vente entraînerait
des frais de négociation inutiles. Bien que le Gestionnaire
de portefeuille recherche un rendement qui reflète celui de l’Indice de référence à moyen et long terme, il n’a pas pour objectif de répliquer l’Indice de référence au jour le jour. Cela signifie qu’il ne se concentre pas sur l’écart de suivi du Compartiment par rapport à l’Indice de référence et qu’il n’a pas à prendre de mesures destinées à minimiser l’écart de suivi en question. Au contraire, en
associant des stratégies qui corrigent les anomalies détectées au sein de l’Indice de Référence, le Gestionnaire d’investissement cherche à offrir une solution d’investissement à « bêta efficace » pour les investisseurs (comme décrit ci-dessous sous la rubrique
« Indices financiers »).

##### Règlement sur la publication d’informations en matière de finance durable
Du fait de l’objectif d’investissement, le Gestionnaire de portefeuille dispose d’un pouvoir discrétionnaire limité pour s’écarter des caractéristiques et des expositions de l’Indice de référence. Ce pouvoir discrétionnaire lui permet, par exemple, d’investir dans des titres non inclus dans l’Indice de référence lorsque ces titres répondent aux exigences de l’Indice de référence et devraient à l’avenir être inclus dans l’Indice de référence, et
également de continuer à détenir des titres inclus dans l’Indice de référence au moment de l’achat, même s’ils sont ensuite retirés. L’Indice de référence ne prend pas en compte les facteurs ESG ni les risques en matière de
durabilité. Par conséquent, le Gestionnaire de portefeuille n’intègre pas les risques en matière de durabilité (qui sont définis comme un événement ou une condition ESG
qui, en cas de survenance, pourrait avoir un impact négatif réel ou potentiel important sur la valeur de
l’investissement concerné [un « Événement ESG »]) dans ses décisions d’investissement. Toutefois, en raison de la nature diversifiée du Compartiment, le Gestionnaire de
portefeuille a déterminé que le risque en matière de durabilité était minimal.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure
actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins
d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur obligations |
| --- | --- |
| Swaps | Swaps de défaut de crédit (sur valeur individuelle et indice [CDS]) |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne peut pas accéder
directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | Markit iTraxx (Europe) Crossover |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Toutefois,
sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages, les coûts associés ou la
pondération des actions de l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 100 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats à terme, et bons de
souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du
Prospectus intitulée « La Société – Gestion efficace de
portefeuille » pour de plus amples informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la
contrepartie sont fournis aux rubriques du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 EUR, 1 USD, 1 GBP, 1 CHF, 10 DKK, 10 SEK,
10 NOK ou 1 CAD selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés trimestriellement, les
31 décembre, 31 mars, 30 juin et 30 septembre. En ce qui concerne les détenteurs d’Actions de distribution, les dividendes déclarés seront normalement versés au plus
tard le 11 février, le 11 mai, le 11 août et le 11 novembre, respectivement. De plus amples informations sont
disponibles à la section « La Société – Politique de
distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.
Les commissions et frais liés à la constitution et à l’organisation du Compartiment, y compris les honoraires des conseillers professionnels du Compartiment seront
pris en charge par le Compartiment. Ces commissions et frais sont estimés à un maximum de 30 000 € et seront pris en charge par le Compartiment et amortis sur une
période de 3 ans à partir de son lancement.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Future Earth Fund

### SUPPLÉMENT 56, DATÉ DU 31 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- La Valeur liquidative du Compartiment peut faire l’objet d’une volatilité élevée en raison de sa politique d’investissement.
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.

Outre les Compartiments figurant dans le Prospectus, le Compartiment suivant a été constitué à la date du présent Supplément :
- BNY Mellon Sustainable Global Emerging Markets Fund (voir Supplément 62 pour plus de détails).


#### Gestionnaire de portefeuille
Newton Investment Management Limited

#### Gestionnaire de portefeuille délégué
Le Gestionnaire de portefeuille peut déléguer certaines ou la totalité de ses fonctions de gestion
d’investissement eu égard au présent Compartiment à
Newton Investment Management North America LLC (le
« Gestionnaire de portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique « Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les
tableaux ci-après et se différencient par leur devise de référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD A (Cap.) | USD | 5 000 | 5 % | 1,85 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 1,85 % | 0 % |
| EUR A (Cap.) | EUR | 5 000 | 5 % | 1,85 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 1,85 % | 0 % |
| CHF A (Cap.) | CHF | 5 000 | 5 % | 1,85 % | 0 % |
| CHF A (Dist.) | CHF | 5 000 | 5 % | 1,85 % | 0 % |
| Euro H (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,85 % | 0 % |
| Euro H (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,85 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| DKK H (Cap.) (couverte) | DKK | 50 000 | 5 % | 1,85 % | 0 % |
| SEK H (Cap.) (couverte) | SEK | 50 000 | 5 % | 1,85 % | 0 % |
| NOK H (Cap.) (couverte) | NOK | 50 000 | 5 % | 1,85 % | 0 % |

| Actions « B » et Actions « J (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD B (Cap.) | USD | 10 000 | 5 % | 1,40 % | 0 % |
| USD B (Dist.) | USD | 10 000 | 5 % | 1,40 % | 0 % |
| SGD J (Cap.) (couverte) | SGD | 10 000 | 5 % | 1,40 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 0,90 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 0,90 % | 0 % |
| Euro C (Cap.) | EUR | 5 000 000 | 5 % | 0,90 % | 0 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 0,90 % | 0 % |
| Euro I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 0,90 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 0,90 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,70 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,70 % | 0 % |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,70 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,70 % | 0 % |
| CHF W (Cap.) | CHF | 15 000 000 | 5 % | 0,70 % | 0 % |
| CHF W (Dist.) | CHF | 15 000 000 | 5 % | 0,70 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,70 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,70 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,70 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,70 % | 0 % |
| SGD W (Cap.) (couverte) | SGD | 15 000 000 | 5 % | 0,70 % | 0 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD E (Cap.) | USD | Comme convenu | 5 % | 0,40 % | 0 % |
| USD E (Dist.) | USD | Comme convenu | 5 % | 0,40 % | 0 % |
| Euro E (Cap.) | EUR | Comme convenu | 5 % | 0,40 % | 0 % |
| Euro E (Dist.) | EUR | Comme convenu | 5 % | 0,40 % | 0 % |
| CHF E (Cap.) | CHF | Comme convenu | 5 % | 0,40 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| CHF E (Dist.) | CHF | Comme convenu | 5 % | 0,40 % | 0 % |
| Euro E (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,40 % | 0 % |
| Euro E (Dist.) (couverte) | EUR | Comme convenu | 5 % | 0,40 % | 0 % |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,40 % | 0 % |
| Sterling E (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,40 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à réaliser une croissance du capital sur le long terme et cibler l’investissement durable.
Plus précisément, le Compartiment vise à soutenir un objectif environnemental en investissant dans des titres de sociétés du monde entier qui offrent des produits, des services et des solutions destinés à réduire les pressions
sur l’environnement et les ressources naturelles de notre
planète.

##### Politique d’investissement
Le Compartiment investit au moins 75 % de sa valeur liquidative dans un portefeuille concentré d’actions et de titres apparentés de sociétés qui contribuent à l’objectif environnemental en réduisant les pressions
environnementales et celles exercées sur les ressources naturelles de notre Terre. Les actions de ces sociétés constituent des Investissements durables SFDR (tel que défini ci-dessous) et répondent aux critères environnementaux, sociaux et de gouvernance (« ESG ») et de durabilité rigoureux du Gestionnaire de portefeuille.
Tous les investissements des Compartiments, autres que ceux créés à des fins spécifiques comme des fins de
couverture ou de liquidité répondront à la définition d’Investissements durables SFDR.
Les Investissements durables SFDR désignent les investissements au sein de sociétés qui contribuent à un objectif environnemental ou social, sous réserve de ne
pas causer de préjudice important à l’un quelconque de
ces objectifs et que ces sociétés suivent de bonnes
pratiques en matière de gouvernance.
Les Investissements doivent répondre aux critères environnementaux, sociaux et de gouvernance (« ESG ») et de durabilité rigoureux du Gestionnaire de portefeuille.
En plus de pouvoir démontrer son influence sur la réduction des pressions environnementales ou l’offre de
solutions liées à l’utilisation des ressources naturelles, s’agissant notamment de contribution à un ou plusieurs des Objectifs de développement durable des Nations Unies pour l’environnement dont, par exemple, l’action climatique, l’énergie propre et abordable, ainsi que la consommation et la production responsables, le Gestionnaire de portefeuille s’efforcera également de :
–	identifier et éviter d’investir dans des sociétés qui participent à des domaines d’activité spécifiques que le Gestionnaire de portefeuille juge nocifs du point de
vue environnemental et/ou social. Toutes les sociétés dans lesquelles des investissements sont réalisés suivent les bonnes pratiques de gouvernance définies dans les principes du Pacte mondial des Nations Unies. Les sociétés en violation des dispositions des principes du Pacte mondial des Nations Unies, incluant notamment les principes relatifs aux droits
humains, au travail, à l’environnement et à la lutte
contre la corruption sont exclues ; et
–	identifier et investir dans des sociétés qui cherchent de manière proactive à correctement gérer les facteurs sociaux ou environnementaux, lesquels devraient à leur tour générer des rendements financiers de long terme. Cette mesure inclura également ces sociétés contribuant au développement de solutions qui aideront à résoudre les problèmes environnementaux, notamment par le
biais d’une utilisation plus efficace ou réduite des
ressources naturelles.
Les Sociétés sont soumises aux éléments contraignants précités dans le cadre des critères ESG et de durabilité que le Gestionnaire de portefeuille applique pour
atteindre l’objectif d’investissement du Compartiment
concerné.
Les actions et titres apparentés dans lesquels le Compartiment est susceptible d’investir comprennent les actions ordinaires et les actions privilégiées, les
certificats représentatifs de titres américains, les certificats représentatifs de titres internationaux, les titres convertibles en, ou échangeables, contre ce type
d’actions (tels que les obligations participatives [«
P-Notes »], y compris les options à faible prix d’exercice
(« LEPO ») et les bons de souscription à faible prix d’exercice (« LEPW »), les sociétés d’investissement immobilier cotées (« REIT »), et d’autres fonds cotés en Bourse à capital fixe, y compris les fiducies de placement
cotées, les bons de souscription (dans la limite de 10 %
de sa Valeur liquidative), les droits de souscription d’actions et les IFD y afférents (tels qu’énumérés dans la section « Utilisation d’IFD » ci-dessous), ci-après les
« Actions et titres apparentés ».
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des organismes de placement collectif
(« OPC ») à capital variable, y compris des fonds négociés en Bourse (« ETF ») et des fonds monétaires. Les OPC peuvent inclure un ou plusieurs autres Compartiments de
la Société ou d’autres fonds conseillés par le
Gestionnaire de portefeuille. Tout investissement dans
des ETF à capital fixe constitué de valeurs mobilières
sera effectué conformément aux critères et aux limites d’investissement applicables aux valeurs mobilières, comme exposé au chapitre « La Société – Restrictions en matière d’investissement et d’emprunt » du Prospectus.
Le Compartiment peut détenir des liquidités et des actifs quasi liquides dans certaines circonstances, y compris lorsque le Gestionnaire de portefeuille considère que les
marchés sont surévalués, ou que les conditions de marché requièrent l’adoption d’une stratégie d’investissement défensive, ou comme exposé ci-dessous dans la section « Gestion de la liquidité et des
garanties ».
À l’exception des investissements autorisés dans des valeurs mobilières non cotées et dans des instruments
du marché monétaire approuvés, les investissements du Compartiment doivent être cotés ou négociés sur des
Marchés éligibles. Une liste des Marchés éligibles est exposée à l’Annexe II du Prospectus.
Le Compartiment vise à investir dans le monde entier,
mais il peut parfois se concentrer sur des secteurs d’activité ou régions géographiques particuliers, y compris les États-Unis, en fonction des opportunités d’investissement détectées par le Gestionnaire de portefeuille.
Le Compartiment peut investir plus de 20 % de sa Valeur
liquidative dans des marchés émergents, notamment la Russie, la Chine et l’Inde. Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des titres russes cotés ou négociés à la Bourse de Moscou.
Les méthodes employées pour acquérir une exposition à la Chine incluent possiblement l’achat d’actions chinoises de catégorie H cotées ou négociées à la Bourse de Hongkong, d’actions chinoises de catégorie B cotées ou négociées à la Bourse de Shanghai ou de Shenzhen ou
d’actions chinoises de catégorie A par le biais du Stock Connect. Le Compartiment peut investir jusqu’à 20 % de sa Valeur liquidative dans des actions chinoises de classe
A par le biais du Stock Connect. Le programme Stock Connect est présenté plus en détail dans l’Annexe V du Prospectus.
Bien que sa devise de référence soit l’USD, le Compartiment peut investir dans des actifs non libellés en USD. Ces actifs ne seront pas obligatoirement
couverts en USD. Le Compartiment peut en outre initier des positions de change actives sur des devises autres
que l’USD pour exprimer le point de vue que le
Gestionnaire de portefeuille porte sur les devises, et
pouvoir ainsi augmenter sa croissance en capital. Des IFD tels que des contrats de change à terme, des contrats à terme standardisés sur devises ou des options sur contrats à terme standardisés de devises peuvent être
utilisés à ces fins. Par conséquent, bien que sa stratégie d’investissement ne repose pas essentiellement sur la gestion active de positions de change, la performance du
Compartiment peut être fortement influencée par les fluctuations des taux de change, car les positions en devises détenues en portefeuille peuvent différer de ses positions en titres.

##### Gestion de la liquidité et des garanties
Le Compartiment détiendra des actifs liquides et quasi liquides dans certaines circonstances, telles que pour satisfaire aux demandes de rachat, faciliter le paiement des frais, conserver des liquidités en attente de
réinvestissement et fournir des liquidités et des garanties pour les contrats d’IFD.
Les actifs quasi-liquides peuvent comprendre des instruments du marché monétaire tels que des bons du Trésor américain, des obligations du Trésor et des dépôts bancaires. Il est prévu que les émetteurs et/ou garants
de tous ces titres et instruments auront une notation de crédit, au moment de l’achat, au moins égale à A1/P1 (ou son équivalent) publiée par une Agence de notation reconnue, ou seront jugés être d’une qualité équivalente par le Gestionnaire de portefeuille.

##### Indice de référence
L’indice MSCI AC World NR Index (l’« Indice de référence »).
L’Indice de référence est un indicateur exhaustif des performances du marché d’actions mondial, qui intègre des fortes et moyennes capitalisations représentatives
des marchés développés et des marchés émergents. Avec près de 3 000 composantes, il couvre approximativement
85 % des possibilités d’investissement en actions sur la scène mondiale (à partir d’août 2021). L’indice de référence applique une approche exhaustive et cohérente qui permet d’avoir un aperçu global très pertinent et d’établir des comparaisons entre régions de toutes les tailles de capitalisation boursière, de tous les segments
et combinaisons sectorielles et de style. Cette méthodologie vise à couvrir de manière exhaustive
l’ensemble des opportunités en mettant fortement l’accent sur la liquidité, l’investissabilité et la réplicabilité de l’indice. L’Indice de référence est rééquilibré tous les trimestres afin de refléter l’évolution des marchés d’actions sous-jacents, tout en limitant toute rotation
injustifiée.
De plus amples informations sur l’Indice de référence sont disponibles sur www.msci.com/acwi.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que le Gestionnaire de portefeuille a tout pouvoir pour investir
en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement. Bien que les avoirs du Compartiment puissent inclure des composantes de l’Indice de référence, la sélection des
placements et leurs pondérations dans le portefeuille ne sont pas influencées par celles de l’Indice de référence.
La stratégie d’investissement ne restreint pas la mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.
L’Indice de référence de ce Compartiment est un indice de marché général qui ne prend pas en compte les facteurs ESG. L’Indice de référence n’est pas utilisé pour mesurer si les investissements sont des Investissements
durables SFDR ou la réussite du Compartiment en matière d’objectifs environnementaux. Au lieu de cela, le Gestionnaire de portefeuille cherchera à évaluer dans
quelle mesure les sociétés investies par le Compartiment ont une influence démontrable sur la réduction des
pressions environnementales ou l’offre de solutions liées à l’utilisation des ressources naturelles afin de vérifier si les objectifs environnementaux du Compartiment dont, le
cas échéant, les ODD des Nations Unies, ont été atteints.

##### Stratégie d’investissement
Le Compartiment est un portefeuille mondial qui n’est soumis à aucune contrainte géographique et dont la composition est fonction des thèmes d’investissements adoptés. Cette stratégie d’investissement suit une approche d’investissement basée sur les meilleures idées, en créant un portefeuille à forte conviction et
parfois concentré. Le Gestionnaire de portefeuille estime qu’aucune société, aucun marché et aucune économie ne peuvent être considérés isolément, chacun de ces
éléments devant être examiné dans un contexte global. Le Gestionnaire de portefeuille estime que les événements qui surviennent dans le monde influent sur tous les marchés financiers et que, par conséquent, un investissement réussi dans des titres à la diversification internationale implique de bien comprendre le monde dans son ensemble.
Le processus d’investissement suivi au niveau de l’entreprise par le Gestionnaire de portefeuille repose à la fois sur les thèmes d’investissement, l’analyse fondamentale et la valorisation de titres. Les thèmes
visent à identifier les changements structurels majeurs au niveau international. L’étude des changements structurels englobe l’observation de multiples développements notamment au niveau environnemental,
technologique et démographique permettant ainsi au Gestionnaire de portefeuille de replacer son analyse des investissements et sa prise de décision dans leur
contexte.et d’identifier des opportunités éventuelles et les risques potentiels tant pour les classes d’actifs que pour les titres. L’analyse fondamentale et la prise en
considération des valorisations des titres par le
Gestionnaire de portefeuille permettent ensuite de déterminer les domaines d’investissements potentiels pour le Compartiment. Les changements
environnementaux représentent des changements structurels majeurs pour le Compartiment.
Les valorisations des titres incluent une analyse détaillée basée sur un large éventail d’indicateurs financiers et de recherches, tenant compte des risques ESG, des opportunités et des enjeux. Lorsqu’il investit dans des titres, le Gestionnaire de portefeuille prend en compte les effets de ces investissements sur l’ensemble du
Compartiment, comme le niveau d’exposition à une classe d’actifs, l’encours de chaque position de titre et les caractéristiques du risque d’investissement des titres eux-mêmes. Il n’y a aucune restriction prévue en termes
de taille (capitalisation boursière) pour les sociétés susceptibles d’être investies par le Compartiment.
Lors de l’identification des opportunités d’investissement et de la sélection de titres pour le Compartiment, le
Gestionnaire de portefeuille appliquera certains critères liés au thème « L’importance de la Terre ». Le thème
« L’importance de la terre » vise à identifier les sociétés
qui contribuent de manière proactive à une transition
globale vers un modèle opérationnel qui contribuera à la protection de l’environnement et des ressources naturelles de la Terre. Selon le Gestionnaire de portefeuille, l’augmentation des niveaux d’activité économique a engendré un stress significatif pour l’environnement et les ressources naturelles de la Terre et répond à des questions de changements structurels liés à l’environnement.
Lorsque le Gestionnaire de portefeuille détermine si une société répond aux critères ESG et de durabilité qu’il a établis, et constitue un Investissement durable SFDR (y
compris si elle applique des pratiques de gouvernance satisfaisantes), il veille à ce que cette dernière : (i) applique de telles pratiques commerciales durables sur le plan économique (par exemple, la durabilité et la stabilité de sa stratégie, de ses opérations et de son financement) ; (ii) prend des mesures appropriées pour gérer les conséquences ou incidences significatives de ses politiques et opérations en lien avec les questions ESG (par ex., son empreinte environnementale, ses standards en matière de travail, la structure de son
conseil d’administration) ; et (iii) contribue, dans le cadre
de ses activités en cours, ou planifie sérieusement de
contribuer sur le long terme (le cas échéant) à réduire les pressions environnementales ou à offrir des solutions
liées à l’utilisation des ressources naturelles, s’agissant
notamment de contribuer à un ou plusieurs des Objectifs de développement durable des Nations Unies d’une façon démontrable.
Ces sociétés sont également susceptibles d’inclure celles dont les activités commerciales sont identifiées comme transitionnelles dans le sens où elles ont un impact
positif sur l’environnement ou la société. Une société
peut se trouver impliquée dans des activités nocives du
point de vue environnemental ou social lorsque ses activités ou opérations, généralement en raison d’un ensemble d’activités commerciales exercées de longue date, peuvent avoir enregistré de mauvais résultats
environnementaux ou sociaux par le passé, bien qu’elle effectue désormais de nouveaux investissements et s’adapte positivement aux nouvelles exigences. Par exemple, il peut s’agir d’une société productrice d’électricité qui construit des installations utilisant des ressources énergétiques renouvelables aux fins de
soutenir une économie à faible teneur en carbone et qui s’est engagée à démanteler ses centrales électriques à charbon. Pour lever toute ambiguïté, il convient de noter
que ces investissements seront des Investissements durables SFDR au moment de l’achat.
De la même manière, dans certains cas, le Compartiment peut investir dans une entreprise au regard de laquelle le Gestionnaire de portefeuille détermine les informations et données ESG prévalentes provenant d'un fournisseur de
notations ESG externe qui ne reflètent pas complètement les initiatives positives en faveur de l’environnement ou de la société lancées par ladite entreprise.
Le Gestionnaire de portefeuille s’attend à ce que, en raison de l’application de ces critères, au moins 20 % des composantes de l’Indice de référence soient exclues de l’univers d’investissement du Compartiment.
En outre, au moins 90 % de la valeur liquidative du Compartiment (nette de toute exposition du Compartiment aux actifs liquides et quasi liquides, fonds du marché monétaire et IFD sur devises [les « Actifs non
ESG »]) doit être constituée d’actifs répondant à ces
critères ESG et de durabilité du Gestionnaire de portefeuille au moment de l’achat et sur une base continue. Pour lever toute ambiguïté, il convient de noter
que les Actifs non ESG ne sont pas tenus de remplir ces critères. Aucun investissement ne sera effectué dans le
titre d’une société réputée avoir des problèmes
environnementaux, sociaux ou de gouvernance importants
et insolubles.
Afin de déterminer si une société répond à ses critères ESG et de durabilité, le Gestionnaire de portefeuille utilise une combinaison de données externes et internes, de recherches et de notations à la fois quantitatives et qualitatives.
Le Gestionnaire de portefeuille dépend des informations et des données de tiers (qui peuvent inclure des informations fournies par des services de recherche, des
rapports, des résultats de filtrages, notations ou d’analyses tels que produits par les fournisseurs d’indices et les consultants). Ces informations ou données peuvent s’avérer incomplètes, inexactes ou incohérentes.
Les investissements du Compartiment doivent continuer à répondre aux critères ESG et de durabilité du Gestionnaire de portefeuille de manière constante après leur acquisition initiale, et ce dernier évaluera le niveau
de risque en matière de durabilité auquel une société peut être soumise de la même manière qu’avant l’acquisition initiale.
Le Compartiment investira principalement dans des Actions et titres apparentés, mais il peut également investir dans des actifs liquides et quasi liquides à des fins de couverture ou de liquidité, si le Gestionnaire de portefeuille le juge approprié. Bien que le Compartiment
ait la capacité d’utiliser des IFD, ce n’est pas sur ces instruments que repose sa stratégie d’investissement. L’utilisation d’IFD sera probablement occasionnelle si le
Gestionnaire de portefeuille estime que ces instruments constituent un moyen plus optimal d’atteindre l’objectif d’investissement du Compartiment que les investissements directs. Le Gestionnaire de portefeuille
ne sera autorisé à recourir aux IFD à des fins d’investissement que dans le cas où ceux-ci seraient réputés lui permettre d’atteindre l’objectif environnemental du Compartiment.

##### Règlement sur la publication d’informations en matière de finance durable
Le Compartiment intègre le risque en matière de durabilité dans son processus de décision
d’investissement et poursuit un objectif d’investissement durable aux fins de l’Article 9 du SFDR.
La prise en compte du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque
en matière de durabilité associé aux investissements sous-jacents, il évalue le risque qu’un événement ou une condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Le Gestionnaire de portefeuille a accès à diverses
catégories de données ESG fournies par des fournisseurs tiers, qui permettent d’identifier les problèmes ESG potentiels auxquels un émetteur peut être confronté.
Cela inclut, entre autres, l’exposition à des activités
pouvant être considérées comme nocives pour l’environnement ou la société. Ces données, ainsi que celles obtenues par le Gestionnaire de portefeuille dans le cadre de sa propre recherche sur l’investissement responsable, constituent une part importante de la prise en compte et de l’évaluation du niveau de risque en matière de durabilité auquel un investissement peut être
soumis. Cette évaluation est intégrée au processus de
recherche au niveau des titres, qui repose sur une analyse fondamentale des opportunités d’investissement individuelles à travers un certain nombre de facteurs
différents, notamment :
- les caractéristiques financières ou économiques fondamentales ;
- l’évaluation ;
- le profil risque/rendement ; et
- les caractéristiques ESG de l’émetteur, y compris la compréhension de la manière dont cesconsidérations peuvent avoir un impact sur les rendements économiques.

Le Gestionnaire de portefeuille tiendra compte des informations recueillies à partir de l’analyse fondamentale dans sa décision d’acquérir une participation dans une société émettrice ou de conserver
une position donnée.
Si le risque en matière de durabilité associé à un investissement particulier augmente au-delà d’un niveau jugé acceptable par le Gestionnaire de portefeuille, en prenant en compte l’objectif et la stratégie
d’investissement du Compartiment, le Gestionnaire de
portefeuille envisagera de vendre ou de réduire l’exposition du Compartiment à l’investissement concerné, en tenant compte au mieux des intérêts des
Actionnaires du Compartiment.
Comme expliqué ci-dessus, l’évaluation et la gestion des risques de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours possible qu’un
Événement ESG ait une incidence négative importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du régime des principales incidences négatives prévu à
l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire
soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs
de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du
régime en matière de reporting. Le Gestionnaire continue d’analyser les données disponibles qui seraient nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations
en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Bien que ce Compartiment soit classé au sens de l’Article 9 et vise à contribuer à des objectifs environnementaux, à la date du présent Supplément, ses
investissements sous-jacents ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental malgré le fait que
certaines de ses participations concernent des sociétés
susceptibles de contribuer aux objectifs environnementaux en termes d’atténuation du changement climatique et/ou d’adaptation au changement climatique. L’évolution de la situation fera l’objet d’un suivi actif et cette classification pourra être reconsidérée, dès l’obtention d’autres données
suffisamment précises, fiables et vérifiables sur les
investissements du Compartiment.

#### Enregistrement en Allemagne
Ce Compartiment est enregistré à la vente en Allemagne. Le Compartiment est classé en tant que Fonds
d’investissement aux fins de l’impôt allemand et, à ce
titre, il investira en permanence plus de 50 % de ses actifs en actions au sens de l’Article 2, paragraphe 8 de la Loi allemande sur la fiscalité des investissements.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur devises Contrats à terme standardisés sur indices boursiers Contrats à terme standardisés sur actions Contrats à terme standardisés sur indices |
| --- | --- |
| Options | Options sur actions (valeur individuelle, indice, secteur, panier personnalisé) LEPO et LEPW Options sur indices Options sur contrats à terme standardisés d’actions Options sur devises Options sur contrats à terme standardisés de devises |
| Contrats à terme | Contrats de change à terme |
| Titres avec IFD intégrés/effet de levier | Bons de souscription Obligations négociées en Bourse (« ETN », Exchange Traded Notes) Droits de souscription d’actions Actions privilégiées convertibles |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

##### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les
indices financiers suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices d’actions utilisés pour offrir une exposition aux marchés de titres régionaux et mondiaux de manière plus rentable ou plus efficace que par l’achat de titres physiques. | ASX 200 Index Dax 30 Index Indice Euro Stoxx 50 Index FTSE 100 Index FTSE All Share Index |
|  | FTSE World Index |
|  | Hang Seng Index |
|  | KOSPI Index |
|  | Indice MSCI AC World NR Index |
|  | MSCI Emerging Markets Index |
|  | Nasdaq Composite Index |
|  | Nikkei 225 Index |
|  | Russell 2000 Index S&P/TSX Composite Index S&P 500 Index Stoxx Europe 600 Index |

Ces indices financiers seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages, les coûts
associés ou la pondération des actions de l’indice
financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 100 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats à terme, et bons de
souscription. Le Compartiment peut aussi utiliser des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Accords de prêt de titres
Ce Compartiment n’aura pas recours aux accords de prêt de titres et peut donc renoncer à tout rendement supplémentaire pouvant être généré par ces activités.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de mise/prise en pension, comme décrit ci- dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la
contrepartie sont fournis aux rubriques du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 30 novembre 2022 ou jusqu’à une
date antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 EUR, 1 GBP, 1 CHF, 10 DKK, 10 SEK,
10 NOK ou 1 SGD selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés le 31 décembre de chaque année.
Concernant les détenteurs d’Actions de distribution, les
dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.
Les commissions et frais liés à la constitution et à l’organisation du Compartiment, y compris les honoraires des conseillers professionnels du Compartiment seront
pris en charge par le Compartiment. Ces commissions et frais sont estimés à un maximum de 35 000 € et seront pris en charge par le Compartiment et amortis sur une
période de 3 ans à partir de son lancement.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Future Food Fund

### SUPPLÉMENT 57, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- La Valeur liquidative du Compartiment peut faire l’objet d’une volatilité élevée en raison de sa politique d’investissement.
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Newton Investment Management Limited

#### Gestionnaire de portefeuille délégué
Le Gestionnaire de portefeuille peut déléguer certaines
ou la totalité de ses fonctions de gestion d’investissement eu égard au présent Compartiment à Newton Investment Management North America LLC (le
« Gestionnaire de portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique « Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée occasionnellement par les Administrateurs, à condition
que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale
et le niveau des commissions et frais prélevés. Les catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD A (Cap.) | USD | 5 000 | 5 % | 1,85 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 1,85 % | 0 % |
| EUR A (Cap.) | EUR | 5 000 | 5 % | 1,85 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 1,85 % | 0 % |
| CHF A (Cap.) | CHF | 5 000 | 5 % | 1,85 % | 0 % |
| CHF A (Dist.) | CHF | 5 000 | 5 % | 1,85 % | 0 % |
| Euro H (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,85 % | 0 % |
| Euro H (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,85 % | 0 % |
| DKK H (Cap.) (couverte) | DKK | 50 000 | 5 % | 1,85 % | 0 % |
| SEK H (Cap.) (couverte) | SEK | 50 000 | 5 % | 1,85 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| NOK H (Cap.) (couverte) | NOK | 50 000 | 5 % | 1,85 % | 0 % |

| Actions « B » et Actions « J (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD B (Cap.) | USD | 10 000 | 5 % | 1,40 % | 0 % |
| USD B (Dist.) | USD | 10 000 | 5 % | 1,40 % | 0 % |
| SGD J (Cap.) (couverte) | SGD | 10 000 | 5 % | 1,40 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 0,90 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 0,90 % | 0 % |
| Euro C (Cap.) | EUR | 5 000 000 | 5 % | 0,90 % | 0 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 0,90 % | 0 % |
| Euro I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 0,90 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 0,90 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,70 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,70 % | 0 % |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,70 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,70 % | 0 % |
| CHF W (Cap.) | CHF | 15 000 000 | 5 % | 0,70 % | 0 % |
| CHF W (Dist.) | CHF | 15 000 000 | 5 % | 0,70 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,70 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,70 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,70 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,70 % | 0 % |
| SGD W (Cap.) (couverte) | SGD | 15 000 000 | 5 % | 0,70 % | 0 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD E (Cap.) | USD | Comme convenu | 5 % | 0,40 % | 0 % |
| USD E (Dist.) | USD | Comme convenu | 5 % | 0,40 % | 0 % |
| Euro E (Cap.) | EUR | Comme convenu | 5 % | 0,40 % | 0 % |
| Euro E (Dist.) | EUR | Comme convenu | 5 % | 0,40 % | 0 % |
| CHF E (Cap.) | CHF | Comme convenu | 5 % | 0,40 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| CHF E (Dist.) | CHF | Comme convenu | 5 % | 0,40 % | 0 % |
| Euro E (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,40 % | 0 % |
| Euro E (Dist.) (couverte) | EUR | Comme convenu | 5 % | 0,40 % | 0 % |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,40 % | 0 % |
| Sterling E (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,40 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à obtenir une appréciation du capital sur le long terme, principalement en acquérant une exposition à des sociétés situées dans le monde entier qui sont bien positionnées pour profiter des
opportunités d’investissement associées à la demande de
nouvelles innovations technologiques dans les secteurs de l’alimentation et de l’agriculture, à travers l’ensemble de la chaîne d’approvisionnement alimentaire mondiale.

##### Politique d’investissement
Le Compartiment investit principalement (c’est-à-dire au moins 75 % de sa Valeur liquidative) dans des actions et titres apparentés, y compris des actions ordinaires et des
actions privilégiées, des certificats représentatifs de titres américains, des certificats représentatifs de titres
internationaux, des titres convertibles en, ou échangeables, contre ce type d’actions (tels que des obligations participatives [« P-Notes »], y compris des options à faible prix d’exercice (« LEPO ») et des bons de
souscription à faible prix d’exercice (« LEPW »), des sociétés d’investissement immobilier cotées (« REIT ») et d’autres fonds cotés en Bourse à capital fixe, y compris
des fiducies de placement cotées, des bons de
souscription (dans la limite de 10 % de sa Valeur liquidative), des droits de souscription d’actions et des IFD y afférents (tels qu’énumérés dans la section
« Utilisation d’IFD » ci-dessous), ci-après les « Actions et
titres apparentés ».
Le Compartiment peut également investir jusqu’à 25 % de sa Valeur liquidative dans des obligations d’État à taux fixe ou variable, des obligations à coupon zéro, des
obligations négociées en Bourse (« ETN ») et des IFD sur ces obligations (tels qu’énumérés dans la section
« Utilisation d’IFD » ci-dessous), ci-après, les « Titres de
créance et apparentés à des titres de créance ».
Les Titres de créance et apparentés à des titres de créance seront des titres de qualité investment grade (c.- à-d. les instruments dont la notation est inférieure à
BBB- [ou équivalent]), tels que notés par une Agence de notation reconnue au moment de l’achat. En cas d’une divergence de notation, la notation la plus élevée sera prise en considération. Si un instrument n’est pas noté, il doit être de qualité équivalente à celle déterminée par le
Gestionnaire de portefeuille.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des organismes de placement collectif
(« OPC ») à capital variable, y compris des fonds négociés en Bourse (« ETF ») et des fonds monétaires. Les OPC
peuvent inclure un ou plusieurs autres Compartiments de la Société ou d’autres fonds conseillés par le Gestionnaire de portefeuille. Tout investissement dans
des ETF à capital fixe constitué de valeurs mobilières sera effectué conformément aux critères et aux limites
d’investissement applicables aux valeurs mobilières, comme exposé au chapitre « La Société – Restrictions en matière d’investissement et d’emprunt » du Prospectus.
Le Compartiment peut détenir des liquidités et des actifs quasi liquides dans certaines circonstances, y compris lorsque le Gestionnaire de portefeuille considère que les marchés sont surévalués, ou que les conditions de
marché requièrent l’adoption d’une stratégie d’investissement défensive, ou comme exposé ci-dessous dans la section « Gestion de la liquidité et des
garanties ».
À l’exception des investissements autorisés dans des valeurs mobilières non cotées et dans des instruments du marché monétaire approuvés, les investissements du
Compartiment doivent être cotés ou négociés sur des Marchés éligibles. Une liste des Marchés éligibles est
exposée à l’Annexe II du Prospectus.
Le Compartiment vise à investir dans le monde entier, mais il peut parfois se concentrer sur des secteurs
d’activité ou régions géographiques particuliers, y
compris les États-Unis, en fonction des opportunités d’investissement détectées par le Gestionnaire de portefeuille.
Le Compartiment peut investir plus de 20 % de sa Valeur
liquidative dans des marchés émergents, notamment la Russie, la Chine et l’Inde. Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des titres russes cotés ou négociés à la Bourse de Moscou.
Le Compartiment peut investir dans les actions A chinoises cotées à la Bourse de Shanghai grâce à un accès direct via le programme Shanghai-Hong Kong Stock Connect (tel que plus précisément décrit à la rubrique
« Stock Connect » en Annexe V au Prospectus). L’exposition aux actions A chinoises via le programme Shanghai-Hong Kong Stock Connect n’excédera pas 10 % de la Valeur liquidative du Compartiment.
Bien que sa devise de référence soit l’USD, le Compartiment peut investir dans des actifs non libellés en USD. Ces actifs ne seront pas obligatoirement
couverts en USD. Le Compartiment peut en outre initier
des positions de change actives sur des devises autres que l’USD pour exprimer le point de vue que le Gestionnaire de portefeuille porte sur les devises, et
pouvoir ainsi augmenter sa croissance en capital. Des IFD tels que des contrats de change à terme, des contrats à terme standardisés sur devises ou des options sur contrats à terme standardisés de devises peuvent être
utilisés à ces fins. Par conséquent, bien que sa stratégie d’investissement ne repose pas essentiellement sur la gestion active de positions de change, la performance du
Compartiment peut être fortement influencée par les fluctuations des taux de change, car les positions en devises détenues en portefeuille peuvent différer de ses positions en titres et tous les actifs ne peuvent pas être couverts par rapport à la devise de référence.

##### Gestion de la liquidité et des garanties
Le Compartiment détiendra des actifs liquides et quasi liquides dans certaines circonstances, telles que pour satisfaire aux demandes de rachat, faciliter le paiement des frais, conserver des liquidités en attente de réinvestissement et fournir des liquidités et des garanties
pour les contrats d’IFD.
Les actifs quasi-liquides peuvent comprendre des instruments du marché monétaire tels que des bons du Trésor américain, des obligations du Trésor et des dépôts bancaires. Il est prévu que les émetteurs et/ou garants de tous ces titres et instruments auront une notation de
crédit, au moment de l’achat, au moins égale à A1/P1 (ou
son équivalent) publiée par une Agence de notation reconnue, ou seront jugés être d’une qualité équivalente par le Gestionnaire de portefeuille.

##### Indice de référence
L’indice MSCI AC World NR Index (l’« Indice de référence »).
L’Indice de référence est un indicateur exhaustif des performances du marché d’actions mondial, qui intègre des fortes et moyennes capitalisations représentatives
des marchés développés et des marchés émergents. Avec plus de 2 000 composantes, il couvre approximativement
85 % des possibilités d’investissement en actions sur la scène mondiale. L’indice de référence applique une approche exhaustive et cohérente qui permet d’avoir un aperçu global très pertinent et d’établir des
comparaisons entre régions de toutes les tailles de capitalisation boursière, de tous les segments et
combinaisons sectorielles et de style. Cette méthodologie vise à couvrir de manière exhaustive l’ensemble des opportunités en mettant fortement l’accent sur la liquidité, l’investissabilité et la réplicabilité de l’indice.
L’Indice de référence est rééquilibré tous les trimestres afin de refléter l’évolution des marchés d’actions sous-
jacents, tout en limitant toute rotation injustifiée.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que le Gestionnaire de portefeuille a tout pouvoir pour investir
en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement. Bien que les avoirs du Compartiment puissent inclure des composantes de l’Indice de référence, la sélection des
placements et leurs pondérations dans le portefeuille ne sont pas influencées par celles de l’Indice de référence. La stratégie d’investissement ne restreint pas la mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.

##### Stratégie d’investissement
Le processus d’investissement suivi au niveau de l’entreprise par le Gestionnaire de portefeuille repose à la fois sur les thèmes d’investissement, l’analyse
fondamentale et la valorisation de titres. Les thèmes
visent à identifier les changements structurels majeurs au niveau international. L’étude des changements structurels englobe l’observation de multiples développements notamment au niveau environnemental,
technologique et démographique permettant ainsi au Gestionnaire de portefeuille de replacer son analyse des
investissements et sa prise de décision dans leur contexte.et d’identifier des opportunités éventuelles et les risques potentiels tant pour les classes d’actifs que pour les titres. Les changements technologiques et démographiques à l’échelle mondiale représentent des
changements structurels majeurs pour ce Compartiment. L’analyse fondamentale et la prise en considération des valorisations des titres par le Gestionnaire de portefeuille permettent ensuite de définir une liste d’investissements potentiels pour le Compartiment. Les valorisations des
titres incluent une analyse détaillée basée sur un large éventail d’indicateurs financiers et de recherches, tenant compte des risques environnementaux, sociaux et de
gouvernance (ESG), des opportunités et des enjeux. Par exemple, le fait qu’une société ait fait preuve par le passé de mauvaises pratiques de gouvernance ou inflige
de mauvais traitements à ses employés pourrait accroître son risque en matière de litiges, et avoir un impact significatif sur sa crédibilité et le prix de son action, voire
entraîner son exclusion à la discrétion du Gestionnaire de portefeuille. Il n’existe cependant aucune restriction spécifique en termes de critères ESG à la prise de
décision du Gestionnaire de portefeuille qui soit cohérente avec l’objectif du Compartiment. Lorsqu’il investit dans des titres, le Gestionnaire de portefeuille
prend en compte les effets de ces investissements sur l’ensemble du Compartiment, comme le niveau d’exposition à une classe d’actifs, l’encours de chaque
position de titre et les caractéristiques du risque d’investissement des titres eux-mêmes.
La stratégie d’investissement de ce Compartiment suit une approche d’investissement basée sur les meilleures idées, en créant un portefeuille à forte conviction et
parfois concentré. Elle vise à fournir un rendement aux actionnaires en acquérant une exposition à des sociétés
situées dans le monde entier qui profiteront des opportunités d’investissement associées à la demande de nouvelles innovations technologiques dans les secteurs de l’alimentation et de l’agriculture, à travers l’ensemble
de la chaîne d’approvisionnement alimentaire mondiale.
Le Gestionnaire de portefeuille prend en compte un certain nombre de thèmes d’investissement sous-jacents, tels que la croissance de la population, l’évolution de la demande des consommateurs et les menaces bien
connues qui pèsent sur notre environnement naturel, lesquelles entraîneront selon lui, une demande sans
précédent d’innovations technologiques dans le domaine de l’alimentation et de l’agriculture pour les années à venir, à travers l’ensemble de la chaîne d’approvisionnement alimentaire mondiale. Le
Compartiment cherche à tirer profit des opportunités à
long terme qui se présentent dans les industries
alimentaires et agricoles. Le Gestionnaire de portefeuille cherche à identifier les sociétés faisant appel à l’épargne publique (c.-à-d. cotées en Bourse) à l’avant-garde de l’innovation, des services et des progrès technologiques dans le domaine de l’agriculture et de l’alimentation, afin d’améliorer les systèmes opérationnels dans ces
secteurs. Parmi les sociétés gagnantes, pourraient figurer les fournisseurs d’ingrédients disposant de budgets de recherche et développement solides et pouvant aider les
producteurs à créer des produits alimentaires intelligents
ou différents qui répondent à la demande émergente des consommateurs, ou des sociétés s’efforçant de réduire leur empreinte carbone en produisant des alternatives
végétales à la viande. Parmi les perdantes, pourraient figurer les distributeurs alimentaires dont les modèles opérationnels sont en voie de devenir obsolètes et incapables de répondre à des contraintes croissantes en matière de logistique, telles que le maintien de la fraîcheur des aliments ou des exigences de plus en plus diverses concernant la distribution internationale.
Le Compartiment investira principalement dans des Actions et titres apparentés, mais il peut également investir dans des Titres de créance et apparentés en tant
qu’alternative aux liquidités, si le Gestionnaire de
portefeuille le juge approprié. Bien que le Compartiment ait la capacité d’utiliser des IFD, y compris en adoptant des positions longues et des positions courtes synthétiques, ce n’est pas sur ces instruments que repose sa stratégie d’investissement. L’utilisation d’IFD
sera probablement occasionnelle si le Gestionnaire de
portefeuille estime que ces instruments constituent un moyen plus optimal d’atteindre l’objectif d’investissement du Compartiment. Un exemple de stratégie basée sur la prise de positions courtes synthétique serait l’achat d’une option de vente ou la vente d’un contrat à terme
standardisé sur une seule action ou un seul indice
boursier sectoriel, dont la société/le secteur a été
identifié(e) comme perdant(e) dans le contexte de l’objectif et de la stratégie d’investissement du Compartiment. Un exemple de stratégie basée sur la
prise de positions longues serait l’achat d’une option d’achat ou l’achat d’un contrat à terme standardisé sur une action ou un indice boursier sectoriel, dont la
société/le secteur a été identifié(e) comme gagnant(e).
Le Compartiment ne fait l’objet d’aucune restriction en matière de capitalisation boursière (la valeur totale de toutes les actions d’une société) et, à ce titre, peut être plus exposé aux sociétés à petite capitalisation que l’Indice de référence. En outre, le Compartiment est
sensiblement plus concentré que l’Indice de référence, car il est exposé à une quantité nettement inférieure de sociétés.
Le Compartiment est un portefeuille mondial qui n’est soumis à aucune contrainte géographique et dont la composition est fonction des thèmes d’investissements adoptés. Le Gestionnaire de portefeuille estime qu’aucune société, aucun marché et aucune économie ne peuvent être considérés isolément, chacun de ces
éléments devant être examiné dans un contexte global. Le Gestionnaire de portefeuille estime que les événements qui surviennent dans le monde influent sur tous les marchés financiers et que, par conséquent, un investissement réussi dans des titres à la diversification internationale implique de bien comprendre le monde dans son ensemble.

##### Règlement sur la publication d’informations en matière de finance durable
La prise en compte du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque
en matière de durabilité associé aux investissements sous-jacents, il évalue le risque qu’un événement ou une condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Le Gestionnaire de portefeuille a accès à diverses
catégories de données ESG fournies par des tiers, qui permettent d’identifier les problèmes ESG potentiels auxquels un émetteur peut être confronté. Cela inclut,
entre autres, l’exposition à des activités pouvant être considérées comme nocives pour l’environnement ou la société. Ces données, ainsi que celles obtenues par le
Gestionnaire de portefeuille dans le cadre de sa propre recherche sur l’investissement responsable, constituent une part importante de la prise en compte et de l’évaluation du niveau de risque en matière de durabilité auquel un investissement peut être soumis.
Cette évaluation est intégrée au processus de recherche au niveau des titres, qui repose sur l’analyse fondamentale des opportunités d’investissement individuelles à travers un certain nombre de facteurs
différents, notamment :
- les caractéristiques financières ou économiques fondamentales ;
- l’évaluation ;
- le profil risque/rendement ; et
- les caractéristiques ESG de l’émetteur, y compris la compréhension de la manière dont cesconsidérations peuvent avoir un impact sur les rendements économiques.

Le Gestionnaire de portefeuille tiendra compte des informations recueillies à partir de l’analyse fondamentale dans sa décision d’acquérir une participation dans une société émettrice ou de conserver
une position donnée.
Comme expliqué ci-dessus, l’évaluation et la gestion des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du
Gestionnaire de portefeuille. Toutefois, il est toujours possible qu’un Événement ESG ait une incidence négative importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences
négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Enregistrement en Allemagne
Ce Compartiment est enregistré à la vente en Allemagne.
Le Compartiment est classé en tant que Fonds d’investissement aux fins de l’impôt allemand et, à ce titre, il investira en permanence plus de 50 % de ses actifs en actions au sens de l’Article 2, paragraphe 8 de la Loi allemande sur la fiscalité des investissements.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en
Bourse ou de gré à gré suivants, à des fins d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur devises Contrats à terme standardisés sur indices boursiers Contrats à terme standardisés sur actions Contrats à terme standardisés sur indices |
| --- | --- |
| Options | Options sur actions (titre individuel, indice, secteur, panier personnalisé) LEPO et LEPW Options sur indices Options sur contrats à terme standardisés sur actions Options sur devises Options sur contrats à terme standardisés sur devises |
| Contrats à terme | Contrats de change à terme |
| Titres avec IFD intégrés/effet de levier | Bons de souscription Billets négociés en Bourse (« ETN », Exchange Traded Notes) Droits de souscription d’actions Actions privilégiées convertibles |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices financiers suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne
peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices d’actions utilisés pour | ASX 200 Index |
| offrir une exposition aux | Dax 30 Index |
| marchés de titres régionaux et | Euro Stoxx 50 Index |
| mondiaux de manière plus | FTSE 100 Index |
| rentable ou plus efficace que | FTSE All Share Index |
| par l’achat de titres physiques. | FTSE World Index |
|  | Hang Seng Index |
|  | KOSPI Index |
|  | MSCI AC World NR Index |
|  | MSCI Emerging Markets Index |
|  | Nasdaq Composite Index |
|  | Nikkei 225 Index |
|  | Russell 2000 Index |
|  | S&P/TSX Composite Index |
|  | S&P 500 Index |
|  | Stoxx Europe 600 Index |

Ces indices financiers seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages, les coûts
associés ou la pondération des actions de l’indice
financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

##### Positions longues et courtes
Le Compartiment peut construire des expositions
synthétiques longues et synthétiques courtes dans chacune des classes d’actifs référencées dans la Politique d’investissement pour atteindre son objectif d’investissement. L’exposition longue nette totale (après prise en compte de la couverture) par le biais d’IFD ne
devrait pas dépasser 100 % de la Valeur liquidative du Compartiment et l’exposition nette courte totale ne devrait pas dépasser non plus 100 % de la Valeur liquidative du Compartiment (en utilisant l’approche par les engagements).

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 100 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats à terme, et bons de
souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du
Prospectus intitulée « La Société – Gestion efficace de
portefeuille » pour de plus amples informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet de OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la
contrepartie sont fournis aux rubriques du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 EUR, 1 GBP, 1 CHF, 10 DKK, 10 SEK,
10 NOK ou 1 SGD selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés le 31 décembre de chaque année.
Concernant les détenteurs d’Actions de distribution, les
dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.
Les commissions et frais liés à la constitution et à l’organisation du Compartiment, y compris les honoraires des conseillers professionnels du Compartiment seront
pris en charge par le Compartiment. Ces commissions et frais sont estimés à un maximum de 30 000 € et seront pris en charge par le Compartiment et amortis sur une
période de 3 ans à partir de son lancement.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Future Life Fund

### SUPPLÉMENT 58, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- La Valeur liquidative du Compartiment peut faire l’objet d’une volatilité élevée en raison de sa politique d’investissement.
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Newton Investment Management Limited

#### Gestionnaire de portefeuille délégué
Le Gestionnaire de portefeuille peut déléguer certaines
ou la totalité de ses fonctions de gestion d’investissement eu égard au présent Compartiment à Newton Investment Management North America LLC (le
« Gestionnaire de portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique « Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée occasionnellement par les Administrateurs, à condition
que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale
et le niveau des commissions et frais prélevés. Les catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD A (Cap.) | USD | 5 000 | 5 % | 1,85 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 1,85 % | 0 % |
| EUR A (Cap.) | EUR | 5 000 | 5 % | 1,85 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 1,85 % | 0 % |
| CHF A (Cap.) | CHF | 5 000 | 5 % | 1,85 % | 0 % |
| CHF A (Dist.) | CHF | 5 000 | 5 % | 1,85 % | 0 % |
| Euro H (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,85 % | 0 % |
| Euro H (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,85 % | 0 % |
| DKK H (Cap.) (couverte) | DKK | 50 000 | 5 % | 1,85 % | 0 % |
| SEK H (Cap.) (couverte) | SEK | 50 000 | 5 % | 1,85 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| NOK H (Cap.) (couverte) | NOK | 50 000 | 5 % | 1,85 % | 0 % |

| Actions « B » et Actions « J (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD B (Cap.) | USD | 10 000 | 5 % | 1,40 % | 0 % |
| USD B (Dist.) | USD | 10 000 | 5 % | 1,40 % | 0 % |
| SGD J (Cap.) (couverte) | SGD | 10 000 | 5 % | 1,40 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 0,90 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 0,90 % | 0 % |
| Euro C (Cap.) | EUR | 5 000 000 | 5 % | 0,90 % | 0 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 0,90 % | 0 % |
| Euro I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 0,90 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 0,90 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,70 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,70 % | 0 % |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,70 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,70 % | 0 % |
| CHF W (Cap.) | CHF | 15 000 000 | 5 % | 0,70 % | 0 % |
| CHF W (Dist.) | CHF | 15 000 000 | 5 % | 0,70 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,70 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,70 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,70 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,70 % | 0 % |
| SGD W (Cap.) (couverte) | SGD | 15 000 000 | 5 % | 0,70 % | 0 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD E (Cap.) | USD | Comme convenu | 5 % | 0,40 % | 0 % |
| USD E (Dist.) | USD | Comme convenu | 5 % | 0,40 % | 0 % |
| Euro E (Cap.) | EUR | Comme convenu | 5 % | 0,40 % | 0 % |
| Euro E (Dist.) | EUR | Comme convenu | 5 % | 0,40 % | 0 % |
| CHF E (Cap.) | CHF | Comme convenu | 5 % | 0,40 % | 0 % |
| CHF E (Dist.) | CHF | Comme convenu | 5 % | 0,40 % | 0 % |
| Euro E (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,40 % | 0 % |
| Euro E (Dist.) (couverte) | EUR | Comme convenu | 5 % | 0,40 % | 0 % |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,40 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| Sterling E (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,40 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à réaliser une croissance du capital à long terme en acquérant principalement une exposition à des sociétés situées dans le monde entier qui devraient
profiter des opportunités d’investissement associées au
vieillissement de la population mondiale et des
changements attendus au niveau de la demande de produits et services de la part des consommateurs.

##### Politique d’investissement
Le Compartiment investit principalement (c’est-à-dire au moins 75 % de sa Valeur liquidative) dans des actions et
titres apparentés, y compris des actions ordinaires et des actions privilégiées, des certificats représentatifs de titres américains, des certificats représentatifs de titres internationaux, des titres convertibles en, ou
échangeables, contre ce type d’actions (tels que des
obligations participatives [« P-Notes »], y compris des options à faible prix d’exercice (« LEPO ») et des bons de souscription à faible prix d’exercice (« LEPW »), des sociétés d’investissement immobilier cotées (« REIT ») et d’autres fonds cotés en Bourse à capital fixe, y compris
des fiducies de placement cotées, des bons de
souscription (dans la limite de 10 % de sa Valeur liquidative), des droits de souscription d’actions et des IFD y afférents (tels qu’énumérés dans la section
« Utilisation d’IFD » ci-dessous), ci-après les « Actions et
titres apparentés ».
Le Compartiment peut également investir jusqu’à 25 % de sa Valeur liquidative dans des obligations d’État à taux fixe ou variable, des obligations à coupon zéro, des
obligations négociées en Bourse (« ETN ») et des IFD sur ces obligations (tels qu’énumérés dans la section
« Utilisation d’IFD » ci-dessous), ci-après, les « Titres de
créance et apparentés à des titres de créance ».
Les Titres de créance et apparentés à des titres de créance seront des titres de qualité investment grade (c.- à-d. les instruments dont la notation est inférieure à
BBB- [ou équivalent]), tels que notés par une Agence de notation reconnue au moment de l’achat. En cas d’une divergence de notation, la notation la plus élevée sera
prise en considération. Si un instrument n’est pas noté, il doit être de qualité équivalente à celle déterminée par le Gestionnaire de portefeuille.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des organismes de placement collectif
(« OPC ») à capital variable, y compris des fonds négociés en Bourse (« ETF ») et des fonds monétaires. Les OPC peuvent inclure un ou plusieurs autres Compartiments de
la Société ou d’autres fonds conseillés par le
Gestionnaire de portefeuille. Tout investissement dans
des ETF à capital fixe constitué de valeurs mobilières
sera effectué conformément aux critères et aux limites d’investissement applicables aux valeurs mobilières, comme exposé au chapitre « La Société – Restrictions en matière d’investissement et d’emprunt » du Prospectus.
Le Compartiment peut détenir des liquidités et des actifs quasi liquides dans certaines circonstances, y compris lorsque le Gestionnaire de portefeuille considère que les marchés sont surévalués, ou que les conditions de
marché requièrent l’adoption d’une stratégie d’investissement défensive, ou comme exposé ci-dessous dans la section « Gestion de la liquidité et des
garanties ».
À l’exception des investissements autorisés dans des valeurs mobilières non cotées et dans des instruments du marché monétaire approuvés, les investissements du
Compartiment doivent être cotés ou négociés sur des Marchés éligibles. Une liste des Marchés éligibles est
exposée à l’Annexe II du Prospectus.
Le Compartiment vise à investir dans le monde entier,
mais il peut parfois se concentrer sur des secteurs d’activité ou régions géographiques particuliers, y compris les États-Unis, en fonction des opportunités d’investissement détectées par le Gestionnaire de portefeuille.
Le Compartiment peut investir plus de 20 % de sa Valeur
liquidative dans des marchés émergents, notamment la Russie, la Chine et l’Inde. Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des titres russes cotés ou négociés à la Bourse de Moscou.
Le Compartiment peut investir dans les actions A chinoises cotées à la Bourse de Shanghai grâce à un accès direct via le programme Shanghai-Hong Kong Stock Connect (tel que plus précisément décrit à la rubrique
« Stock Connect » en Annexe V au Prospectus).
L’exposition aux actions A chinoises via le programme Shanghai-Hong Kong Stock Connect n’excédera pas 10 % de la Valeur liquidative du Compartiment.
Bien que sa devise de référence soit l’USD, le Compartiment peut investir dans des actifs non libellés
en USD. Ces actifs ne seront pas obligatoirement couverts en USD. Le Compartiment peut en outre initier
des positions de change actives sur des devises autres que l’USD pour exprimer le point de vue que le Gestionnaire de portefeuille porte sur les devises, et
pouvoir ainsi augmenter sa croissance en capital. Des IFD tels que des contrats de change à terme, des contrats à terme standardisés sur devises ou des options sur contrats à terme standardisés de devises peuvent être utilisés à ces fins. Par conséquent, bien que sa stratégie
d’investissement ne repose pas essentiellement sur la
gestion active de positions de change, la performance du
Compartiment peut être fortement influencée par les fluctuations des taux de change, car les positions en devises détenues en portefeuille peuvent différer de ses positions en titres et tous les actifs ne peuvent pas être couverts par rapport à la devise de référence.

##### Gestion de la liquidité et des garanties
Le Compartiment détiendra des actifs liquides et quasi liquides dans certaines circonstances, telles que pour satisfaire aux demandes de rachat, faciliter le paiement des frais, conserver des liquidités en attente de
réinvestissement et fournir des liquidités et des garanties pour les contrats d’IFD.
Les actifs quasi-liquides peuvent comprendre des instruments du marché monétaire tels que des bons du Trésor américain, des obligations du Trésor et des dépôts bancaires. Il est prévu que les émetteurs et/ou garants de tous ces titres et instruments auront une notation de
crédit, au moment de l’achat, au moins égale à A1/P1 (ou
son équivalent) publiée par une Agence de notation reconnue, ou seront jugés être d’une qualité équivalente par le Gestionnaire de portefeuille.

##### Indice de référence
L’indice MSCI AC World NR Index (l’« Indice de référence »).
L’Indice de référence est un indicateur exhaustif des performances du marché d’actions mondial, qui intègre des fortes et moyennes capitalisations représentatives
des marchés développés et des marchés émergents. Avec plus de 2 000 composantes, il couvre approximativement
85 % des possibilités d’investissement en actions sur la scène mondiale. L’indice de référence applique une approche exhaustive et cohérente qui permet d’avoir un aperçu global très pertinent et d’établir des
comparaisons entre régions de toutes les tailles de
capitalisation boursière, de tous les segments et combinaisons sectorielles et de style. Cette méthodologie
vise à couvrir de manière exhaustive l’ensemble des opportunités en mettant fortement l’accent sur la liquidité, l’investissabilité et la réplicabilité de l’indice. L’Indice de référence est rééquilibré tous les trimestres afin de refléter l’évolution des marchés d’actions sous-
jacents, tout en limitant toute rotation injustifiée.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour investir en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement.
Bien que les avoirs du Compartiment puissent inclure des composantes de l’Indice de référence, la sélection des placements et leurs pondérations dans le portefeuille ne sont pas influencées par celles de l’Indice de référence.
La stratégie d’investissement ne restreint pas la mesure
dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.

##### Stratégie d’investissement
Le processus d’investissement suivi au niveau de l’entreprise par le Gestionnaire de portefeuille repose à la fois sur les thèmes d’investissement, l’analyse fondamentale et la valorisation de titres (par le biais
desquels nous entendons que le processus de détermination de la valeur d’un titre s’effectue par rapport à un indice de marché). Les thèmes visent à
identifier les changements structurels majeurs au niveau international. L’étude des changements structurels englobe l’observation de multiples développements notamment au niveau environnemental, technologique et
démographique permettant ainsi au Gestionnaire de
portefeuille de replacer son analyse des investissements et sa prise de décision dans leur contexte.et d’identifier des opportunités éventuelles et les risques potentiels tant pour les classes d’actifs que pour les titres.
L’évolution démographique mondiale représente un
changement structurel majeur pour ce Compartiment. L’analyse fondamentale et la prise en considération des valorisations des titres par le Gestionnaire de portefeuille permettent ensuite de définir une liste d’investissements potentiels pour le Compartiment. Les valorisations des
titres incluent une analyse détaillée basée sur un large éventail d’indicateurs financiers et de recherches,
tenant compte des risques environnementaux, sociaux et de gouvernance (ESG), des opportunités et des enjeux.
Par exemple, le fait qu’une société ait fait preuve par le
passé de mauvaises pratiques de gouvernance ou inflige
de mauvais traitements à ses employés pourrait accroître son risque en matière de litiges, et avoir un impact significatif sur sa crédibilité et le prix de son action, voire
entraîner son exclusion à la discrétion du Gestionnaire de portefeuille. Il n’existe cependant aucune restriction spécifique en termes de critères ESG à la prise de
décision du Gestionnaire de portefeuille qui soit cohérente avec l’objectif du Compartiment. Lorsqu’il investit dans des titres, le Gestionnaire de portefeuille
prend en compte les effets de ces investissements sur l’ensemble du Compartiment, comme le niveau d’exposition à une classe d’actifs, l’encours de chaque
position de titre et les caractéristiques du risque d’investissement des titres eux-mêmes.
La stratégie d’investissement de ce Compartiment suit une approche d’investissement basée sur les meilleures idées, en créant un portefeuille à forte conviction et
parfois concentré. Il vise à fournir aux actionnaires des rendements d’investissement en investissant dans des sociétés qui devraient profiter des opportunités d’investissement liées au vieillissement de la population mondiale et des changements attendus concernant la
demande des consommateurs.
Le Gestionnaire de portefeuille évaluera les opportunités offertes par cette demande en évolution et explorera les risques et opportunités que cela présente pour les
investisseurs à l’aide de son processus d’investissement tel que décrit ci-dessus. Le Gestionnaire de portefeuille prévoit d’investir dans des entreprises proposant des solutions innovantes dans des domaines tels que les
soins de santé, les loisirs, les services financiers, le logement et les voyages et estime que les sociétés
faisant appel à l’épargne publique (c.-à-d. cotées en
Bourse) et opérant dans ces secteurs ou liées à ces secteurs présenteront des opportunités d’investissement importantes dans les années à venir. Parmi les
entreprises gagnantes pourraient figurer celles qui développent des solutions de soins de santé ou de planification financière personnalisées ou abordables ou des produits de consommation demandés par les populations vieillissantes. Parmi ces produits, on peut citer les applications pour smartphone et les
périphériques qui suivent les données de santé d’une personne ou l’administration de médicaments.
Parmi les entreprises perdantes pourraient figurer des sociétés établies qui n’adaptent pas leurs modèles commerciaux pour répondre aux besoins d’une population plus âgée, telles que les détaillants traditionnels ou les
sociétés de consommation dont les produits ou services ne sont pas positionnés pour les profils de demande en évolution dans des domaines tels que la nutrition, le bien-être et les loisirs.
Le Compartiment investira principalement dans des Actions et titres apparentés, mais il peut également investir dans des Titres de créance et apparentés en tant
qu’alternative aux liquidités, si le Gestionnaire de
portefeuille le juge approprié. Bien que le Compartiment ait la capacité d’utiliser des IFD, y compris en adoptant des positions longues et des positions courtes synthétiques, ce n’est pas sur ces instruments que
repose sa stratégie d’investissement. L’utilisation d’IFD
sera probablement occasionnelle si le Gestionnaire de
portefeuille estime que ces instruments constituent un moyen plus optimal d’atteindre l’objectif d’investissement du Compartiment. Un exemple de stratégie basée sur la prise de positions courtes synthétique serait l’achat d’une
option de vente ou la vente d’un contrat à terme
standardisé sur une seule action ou un seul indice
boursier sectoriel, dont la société/le secteur a été identifié(e) comme perdant(e) dans le contexte de
l’objectif et de la stratégie d’investissement du
Compartiment. Un exemple de stratégie basée sur la prise de positions longues serait l’achat d’une option d’achat ou l’achat d’un contrat à terme standardisé sur une action ou un indice boursier sectoriel, dont la
société/le secteur a été identifié(e) comme gagnant(e).
Le Compartiment ne fait l’objet d’aucune restriction en matière de capitalisation boursière (la valeur totale de toutes les actions d’une société) et, à ce titre, peut être plus exposé aux sociétés à petite capitalisation que
l’Indice de référence. En outre, le Compartiment est sensiblement plus concentré que l’Indice de référence, car il est exposé à une quantité nettement inférieure de
sociétés.
Le Compartiment est un portefeuille mondial qui n’est soumis à aucune contrainte géographique et dont la composition est fonction des thèmes d’investissements adoptés. Le Gestionnaire de portefeuille estime qu’aucune société, aucun marché et aucune économie ne peuvent être considérés isolément, chacun de ces
éléments devant être examiné dans un contexte global. Le Gestionnaire de portefeuille estime que les événements qui surviennent dans le monde influent sur
tous les marchés financiers et que, par conséquent, un investissement réussi dans des titres à la diversification internationale implique de bien comprendre le monde dans son ensemble.

##### Règlement sur la publication d’informations en matière de finance durable
La prise en compte du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents, il évalue le risque qu’un événement ou une
condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Le Gestionnaire de portefeuille a accès à diverses catégories de données ESG fournies par des tiers, qui
permettent d’identifier les problèmes ESG potentiels
auxquels un émetteur peut être confronté. Cela inclut, entre autres, l’exposition à des activités pouvant être considérées comme nocives pour l’environnement ou la société. Ces données, ainsi que celles obtenues par le
Gestionnaire de portefeuille dans le cadre de sa propre recherche sur l’investissement responsable, constituent une part importante de la prise en compte et de l’évaluation du niveau de risque en matière de durabilité auquel un investissement peut être soumis.
Cette évaluation est intégrée au processus de recherche au niveau des titres, qui repose sur l’analyse fondamentale des opportunités d’investissement individuelles à travers un certain nombre de facteurs
différents, notamment :
- les caractéristiques financières ou économiques fondamentales ;
- l’évaluation ;
- le profil risque/rendement ; et
- les caractéristiques ESG de l’émetteur, y compris la compréhension de la manière dont cesconsidérations peuvent avoir un impact sur les rendements économiques.

Le Gestionnaire de portefeuille tiendra compte des informations recueillies à partir de l’analyse fondamentale dans sa décision d’acquérir une participation dans une société émettrice ou de conserver
une position donnée.
Comme expliqué ci-dessus, l’évaluation et la gestion des risques en matière de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours
possible qu’un Événement ESG ait une incidence négative importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices d’actions utilisés pour | ASX 200 Index |
| offrir une exposition aux | Dax 30 Index |
| marchés de titres régionaux et | Euro Stoxx 50 Index |
| mondiaux de manière plus | FTSE 100 Index |
| rentable ou plus efficace que | FTSE All Share Index |
| par l’achat de titres physiques. | FTSE World Index |
|  | Hang Seng Index |
|  | KOSPI Index |
|  | MSCI AC World NR Index |
|  | MSCI Emerging Markets Index |
|  | Nasdaq Composite Index |
|  | Nikkei 225 Index |
|  | Russell 2000 Index |
|  | S&P/TSX Composite Index |
|  | S&P 500 Index |
|  | Stoxx Europe 600 Index |

négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Enregistrement en Allemagne
Ce Compartiment est enregistré à la vente en Allemagne. Le Compartiment est classé en tant que Fonds
d’investissement aux fins de l’impôt allemand et, à ce
titre, il investira en permanence plus de 50 % de ses actifs en actions au sens de l’Article 2, paragraphe 8 de la Loi allemande sur la fiscalité des investissements.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins
d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur devises Contrats à terme standardisés sur indices boursiers Contrats à terme standardisés sur actions Contrats à terme standardisés sur indices |
| --- | --- |
| Options | Options sur actions (titre individuel, indice, secteur, panier personnalisé) LEPO et LEPW Options sur indices Options sur contrats à terme standardisés sur actions Options sur devises Options sur contrats à terme standardisés sur devises |
| Contrats à terme | Contrats de change à terme |
| Titres avec IFD intégrés/effet de levier | Bons de souscription Billets négociés en Bourse (« ETN », Exchange Traded Notes) Droits de souscription d’actions Actions privilégiées convertibles |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices financiers suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne
peut pas accéder directement aux placements.
Ces indices financiers seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas
directement affecté par les rééquilibrages, les coûts associés ou la pondération des actions de l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

##### Positions longues et courtes
Le Compartiment peut construire des expositions
synthétiques longues et synthétiques courtes dans chacune des classes d’actifs référencées dans la Politique d’investissement pour atteindre son objectif d’investissement. L’exposition longue nette totale (après prise en compte de la couverture) par le biais d’IFD ne
devrait pas dépasser 100 % de la Valeur liquidative du Compartiment et l’exposition nette courte totale ne devrait pas dépasser non plus 100 % de la Valeur liquidative du Compartiment (en utilisant l’approche par les engagements).

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 100 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats à terme, et bons de
souscription. Le Compartiment peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et
limites posées par la Réglementation OPCVM de la
Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société – Gestion efficace de portefeuille » pour de plus amples informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de prêt de titres et des accords de mise/prise en pension, comme décrit ci-dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux
OFT excède 15 % de sa Valeur liquidative.
Les types d’actifs qui feront l’objet de OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 3 novembre 2022 ou jusqu’à une date
antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations détaillées sur les catégories d’actions du Compartiment
sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 EUR, 1 GBP, 1 CHF, 10 DKK, 10 SEK,
10 NOK ou 1 SGD selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés le 31 décembre de chaque année.
Concernant les détenteurs d’Actions de distribution, les
dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.
Les commissions et frais liés à la constitution et à l’organisation du Compartiment, y compris les honoraires des conseillers professionnels du Compartiment seront
pris en charge par le Compartiment. Ces commissions et frais sont estimés à un maximum de 30 000 € et seront pris en charge par le Compartiment et amortis sur une
période de 3 ans à partir de son lancement.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Smart Cures Innovation Fund

### SUPPLÉMENT 59, DATÉ DU 31 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci-après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- La Valeur liquidative du Compartiment peut faire l’objet d’une volatilité élevée en raison de sa politique d’investissement.

Outre les Compartiments figurant dans le Prospectus, le Compartiment suivant a été constitué à la date du présent Supplément :
- BNY Mellon Sustainable Global Emerging Markets Fund (voir Supplément 62 pour plus de détails).


#### Gestionnaire de portefeuille
Newton Investment Management North America LLC

#### Gestionnaire de portefeuille délégué
Le Gestionnaire d’investissement peut déléguer certaines ou la totalité de ses fonctions de gestion d’investissement eu égard au présent Compartiment à Newton Investment Management Limited (le
« Gestionnaire de portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique « Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée occasionnellement par les Administrateurs, à condition
que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale
et le niveau des commissions et frais prélevés. Les catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD A (Cap.) | USD | 5 000 | 5 % | 1,85 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 1,85 % | 0 % |
| CHF A (Cap.) | CHF | 5 000 | 5 % | 1,85 % | 0 % |
| Euro H (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,85 % | 0 % |

| Actions « B » et Actions « J (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD B (Cap.) | USD | 10 000 | 5 % | 1,40 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| USD B (Dist.) | USD | 10 000 | 5 % | 1,40 % | 0 % |
| SGD B (Cap.) | SGD | 10 000 | 5 % | 1,40 % | 0 % |
| HKD B (Cap.) | HKD | 100 000 | 5 % | 1,40 % | 0 % |
| SGD J (Cap.) (couverte) | SGD | 10 000 | 5 % | 1,40 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 0,90 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 0,90 % | 0 % |
| Euro I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 0,90 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,70 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,70 % | 0 % |
| CHF W (Cap.) | CHF | 15 000 000 | 5 % | 0,70 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,70 % | 0 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD E (Cap.) | USD | Comme convenu | 5 % | 0,40 % | 0 % |
| USD E (Dist.) | USD | Comme convenu | 5 % | 0,40 % | 0 % |
| Euro E (Cap.) | EUR | Comme convenu | 5 % | 0,40 % | 0 % |
| Sterling E (Cap.) | GBP | Comme convenu | 5 % | 0,40 % | 0 % |
| CHF E (Cap.) | CHF | Comme convenu | 5 % | 0,40 % | 0 % |
| Euro E (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,40 % | 0 % |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,40 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à réaliser une croissance du capital sur le long terme et cibler l’investissement durable.
Plus précisément, le Compartiment vise à soutenir un objectif social en investissant dans les titres de sociétés
du monde entier qui améliorent la pertinence et l’efficience des systèmes de santé par l’innovation dans la biotechnologie et les soins de santé.

##### Politique d’investissement
Le Compartiment investit au moins 80 % de sa valeur liquidative dans un portefeuille d’actions et de titres apparentés de sociétés qui contribuent aux objectifs sociaux en améliorant la pertinence et l’efficience des
systèmes de santé à travers l’innovation dans la biotechnologie et les soins de santé (« Sociétés
innovantes dans le domaine des soins intelligents »). Les actions de ces sociétés constituent des Investissements durables SFDR (tel que défini ci-dessous) et répondent aux critères environnementaux, sociaux et de gouvernance (« ESG ») et de durabilité rigoureux du Gestionnaire de portefeuille.
Les Sociétés innovantes dans le domaine des soins intelligents développent des traitements médicaux pour les maladies, ou jouent un rôle de soutien, en ciblant la génétique sous-jacente à ces maladies.
Tous les investissements des Compartiments, autres que ceux créés à des fins spécifiques comme des fins de
couverture ou de liquidité répondront à la définition d’Investissements durables SFDR.
Les Investissements durables SFDR désignent les investissements au sein de sociétés qui contribuent à un objectif environnemental ou social, sous réserve de ne
pas causer de préjudice important à l’un quelconque de
ces objectifs et que ces sociétés suivent de bonnes
pratiques en matière de gouvernance.
Les Investissements doivent répondre aux critères environnementaux, sociaux et de gouvernance (« ESG ») et de durabilité rigoureux du Gestionnaire de portefeuille. En plus de contribuer aux objectifs sociaux, en identifiant et en investissant dans des sociétés réputées avoir une
influence démontrable sur l’amélioration de la pertinence et de l’efficience des systèmes de santé, le Gestionnaire de portefeuille s’efforcera également de :
–	identifier et éviter d’investir dans des sociétés qui participent à des domaines d’activité spécifiques que le Gestionnaire de portefeuille juge nocifs du point de
vue environnemental et/ou social. Toutes les sociétés dans lesquelles des investissements sont réalisés suivent les bonnes pratiques de gouvernance définies dans les principes du Pacte mondial des Nations Unies. Les sociétés en violation des dispositions des principes du Pacte mondial des Nations Unies, incluant notamment les principes relatifs aux droits
humains, au travail, à l’environnement et à la lutte
contre la corruption sont exclues ; et
–	identifier et investir dans des sociétés qui cherchent de manière proactive à correctement gérer les facteurs sociaux et environnementaux, lesquels devraient à leur tour générer des rendements financiers de long terme. Cette mesure inclura également les sociétés contribuant au développement de solutions qui aideront à résoudre les problèmes environnementaux ou sociaux, notamment en utilisant les ressources naturelles de manière plus efficace ou réduite ou en facilitant
l’accès aux soins de santé.
Les Sociétés sont soumises aux éléments contraignants précités dans le cadre des critères ESG et de durabilité que le Gestionnaire de portefeuille applique pour
atteindre l’objectif d’investissement du Compartiment
concerné.
Les actions et titres apparentés dans lesquels le Compartiment est susceptible d’investir comprennent les actions ordinaires et les actions privilégiées, les
certificats représentatifs de titres américains, les certificats représentatifs de titres internationaux, les
titres convertibles en, ou échangeables contre ce type d’actions (tels que les obligations participatives [«
P-Notes »], y compris les options à faible prix d’exercice (« LEPO ») et les bons de souscription à faible prix d’exercice (« LEPW »), les sociétés d’investissement immobilier cotées (« REIT »), les sociétés d’exploitation
immobilière (Real Estate Operating Companies, « REOC ») et d’autres fonds cotés en Bourse à capital fixe, y compris les fiducies de placement cotées, les bons de
souscription (dans la limite de 10 % de sa Valeur liquidative), les droits de souscription d’actions et les IFD y afférents, ci-après les « Actions et titres apparentés ».
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des organismes de placement collectif
(« OPC ») à capital variable, y compris des fonds négociés en Bourse (« ETF ») et des fonds monétaires. Les OPC
peuvent inclure un ou plusieurs autres Compartiments de la Société ou d’autres fonds conseillés par le Gestionnaire de portefeuille. Tout investissement dans
des ETF à capital fixe constitué de valeurs mobilières sera effectué conformément aux critères et aux limites
d’investissement applicables aux valeurs mobilières, comme exposé au chapitre « La Société – Restrictions en matière d’investissement et d’emprunt » du Prospectus.
Le Compartiment peut détenir des liquidités et des actifs quasi liquides dans certaines circonstances, y compris lorsque le Gestionnaire de portefeuille considère que les marchés sont surévalués, ou que les conditions de
marché requièrent l’adoption d’une stratégie d’investissement défensive, ou comme exposé ci-dessous dans la section « Gestion de la liquidité et des
garanties ».
À l’exception des investissements autorisés dans des valeurs mobilières non cotées et dans des instruments du marché monétaire approuvés, les investissements du
Compartiment doivent être cotés ou négociés sur des Marchés éligibles. Une liste des Marchés éligibles est
exposée à l’Annexe II du Prospectus.
Le Compartiment vise à investir dans le monde entier, mais il peut parfois se concentrer sur des secteurs
d’activité ou régions géographiques particuliers, y
compris les États-Unis, en fonction des opportunités d’investissement détectées par le Gestionnaire de portefeuille.
Le Compartiment peut investir jusqu’à 20 % de sa Valeur liquidative dans des marchés émergents, notamment, la Chine et l’Inde.
Les méthodes employées pour acquérir une exposition à la Chine incluent possiblement l’achat d’actions chinoises de catégorie H cotées ou négociées à la Bourse de Hongkong, d’actions chinoises de catégorie B cotées ou négociées à la Bourse de Shanghai ou de Shenzhen ou d’actions chinoises de catégorie A par le biais du Stock Connect, ou encore par le biais de Certificats
représentatifs de titres. Le Compartiment peut investir jusqu’à 20 % de sa Valeur liquidative dans des actions chinoises de classe A par le biais du Stock Connect. Le
programme Stock Connect est présenté plus en détail dans l’Annexe V du Prospectus. Le Compartiment peut acquérir une exposition en Inde de manière directe ou par
le biais de Certificats représentatifs de titres.
Bien que sa devise de référence soit l’USD, le Compartiment peut investir dans des actifs non libellés en USD. Ces actifs ne seront pas obligatoirement
couverts en USD. Par conséquent, la performance du Compartiment peut être très sensible aux mouvements des taux de change.

##### Gestion de la liquidité et des garanties
Le Compartiment détiendra des actifs liquides et quasi liquides dans certaines circonstances, telles que pour satisfaire aux demandes de rachat, faciliter le paiement des frais, conserver des liquidités en attente de
réinvestissement et fournir des liquidités et des garanties pour les contrats d’IFD.
Les actifs quasi-liquides peuvent comprendre des instruments du marché monétaire tels que des bons du Trésor américain, des obligations du Trésor et des dépôts bancaires. Il est prévu que les émetteurs et/ou garants de tous ces titres et instruments auront une notation de
crédit, au moment de l’achat, au moins égale à A1/P1 (ou
son équivalent) publiée par une Agence de notation reconnue, ou seront jugés être d’une qualité équivalente par le Gestionnaire de portefeuille.

##### Indice de référence
L’indice MSCI AC World NR Index (l’« Indice de référence »).
L’Indice de référence est un indicateur exhaustif des performances du marché d’actions mondial, qui intègre des fortes et moyennes capitalisations représentatives
des marchés développés et des marchés émergents. Avec près de 3 000 composantes, il couvre approximativement
85 % des possibilités d’investissement en actions sur la scène mondiale (à partir d’août 2021). L’indice de référence applique une approche exhaustive et cohérente qui permet d’avoir un aperçu global très pertinent et d’établir des comparaisons entre régions de toutes les tailles de capitalisation boursière, de tous les segments
et combinaisons sectorielles et de style. Cette méthodologie vise à couvrir de manière exhaustive
l’ensemble des opportunités en mettant fortement l’accent sur la liquidité, l’investissabilité et la réplicabilité de l’indice. L’Indice de référence est rééquilibré tous les trimestres afin de refléter l’évolution des marchés d’actions sous-jacents, tout en limitant toute rotation
injustifiée.
De plus amples informations sur l’Indice de référence sont disponibles sur www.msci.com/acwi.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que le Gestionnaire de portefeuille a tout pouvoir pour investir
en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement. Bien que les avoirs du Compartiment puissent inclure des composantes de l’Indice de référence, la sélection des
placements et leurs pondérations dans le portefeuille ne sont pas influencées par celles de l’Indice de référence. La stratégie d’investissement ne restreint pas la mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.
L’Indice de référence de ce Compartiment est un indice de marché général qui ne prend pas en compte les facteurs ESG. L’Indice de référence n’est pas utilisé pour mesurer si les investissements sont des Investissements
durables SFDR ou la réussite du Compartiment en matière d’objectifs sociaux. Au lieu de cela, le Gestionnaire de portefeuille cherchera à évaluer dans
quelle mesure les sociétés investies par le Compartiment ont une influence démontrable sur l’amélioration de la
pertinence et de l’efficience des systèmes de santé afin de vérifier si les objectifs sociaux du Compartiment ont été atteints.

##### Stratégie d’investissement
Le Compartiment vise à réaliser une croissance du capital sur le long terme et soutenir des objectifs sociaux en investissant dans les titres de sociétés qui améliorent la
pertinence et l’efficience des systèmes de santé par l’innovation dans la biotechnologie et les soins de santé. Le Compartiment pourra parfois faire l’objet d’une
certaine concentration.
Identifier l’univers d’investissement
Dans le cadre de l’identification et de la sélection des sociétés qu’il souhaite inclure dans le portefeuille du Compartiment, le Gestionnaire de portefeuille recherche principalement des « pionniers de l’industrie clinique » ou
des « sociétés de soutien ».
- Les pionniers cliniques tentent de démontrer la validation clinique d’une thérapie qui renforce ou modifie le contenu génétique d’une personne dans le but de traiter une maladie particulière. Cesentreprises adoptent différentes approches, notamment la thérapie génique, l’édition du génome et la modulation du génome.
- Parmi les sociétés de soutien figurent les sociétés d’externalisation dans la fabrication de produits pharmaceutiques et/ou les sociétés de recherche qui disposent d’une expertise particulière dans le domaine des thérapies géniques. Cela inclutégalement des sociétés qui créent des outils de diagnostic pour le séquençage du génome ainsi que des entreprises de fourniture spécialisées qui bénéficient de la croissance des avancées et de la construction de pipelines dans le domaine des thérapies géniques.

Il dispose de bases de connaissances spécialisées dans les secteurs de la biotechnologie, de la pharmaceutique, des instruments des sciences de la vie et des
prestataires de soins de santé, ainsi que d’une
expérience professionnelle et universitaire en laboratoire
notable.
La riche expérience du Gestionnaire de portefeuille dans la recherche de ces thérapies et dans les secteurs de la
biotechnologie et de la santé qui s’y concentrent, lui permet d’évaluer si ces sociétés fourniront des traitements fonctionnels pour de nombreuses maladies.
En particulier, le Gestionnaire de portefeuille bénéficie de l’expérience pertinente des membres de l’équipe d’investissement en laboratoire.
Le Gestionnaire de portefeuille peut sélectionner une part
significative (plus de 80 %) des titres du Compartiment provenant des secteurs de marché pertinents de l’Indice de référence. Ces secteurs incluent, sans s’y limiter, les biotechnologies, les produits pharmaceutiques et les
instruments des sciences de la vie. Le Compartiment investira directement dans des composantes sélectionnées de ces secteurs.
La liste des secteurs de marché pertinents au sein de l’Indice de référence et leurs composantes sera régulièrement examinée. Tout changement pertinent de l’Indice de référence sera examiné et analysé par le
Gestionnaire de portefeuille qui décidera si des mesures doivent être prises pour refléter l’évolution de l’univers d’investissement.
Le Gestionnaire de portefeuille construit également une
exposition à des sociétés qui ne font pas partie de l’Indice de référence et qui répondent aux critères qu’il a définis pour les Sociétés innovantes dans le domaine des
soins intelligents, dont notamment ses propres critères ESG et de durabilité.
Sélection d’investissements
Le Gestionnaire de portefeuille sélectionne des investissements issus de l’univers d’investissement en ayant recours à une analyse fondamentale pour évaluer la
capacité et la volonté d’une société à conserver et, idéalement, à accroître sa valeur. L’analyse fondamentale mesure la valeur intrinsèque d’une entreprise en
examinant les facteurs économiques et financiers connexes, notamment l’état de l’économie, les conditions du secteur, l’efficacité de la gestion de l’entreprise, la solidité du bilan, le paysage concurrentiel, les
valorisations des cours des actions, la liquidité et l’environnement réglementaire. L’analyse fondamentale permet au Gestionnaire de portefeuille de déterminer si
une société est sous-évaluée ou surévaluée.
En outre, le Gestionnaire de portefeuille évaluera, en s’appuyant sur son expertise telle décrite précédemment et les données externes disponibles, les progrès d’une société donnée dans le cadre d’essais cliniques et déterminera ses chances de réussite. Les données
externes prises en compte incluent les essais cliniques antérieurs réalisés par l’entreprise, les essais cliniques de concurrents, les essais utilisant des critères d’évaluation similaires ou les essais au sein d’une population de patients similaires. À ce stade, le
Gestionnaire de portefeuille applique ses critères ESG et de durabilité en utilisant la recherche fondamentale
renforcée par de solides capacités quantitatives afin d’évaluer les facteurs environnementaux, sociaux et de gouvernance de chaque investissement du portefeuille.
Lorsque le Gestionnaire de portefeuille détermine si une société répond aux critères ESG et de durabilité qu’il a établis, et constitue un Investissement durable SFDR (y
compris si elle applique des pratiques de gouvernance satisfaisantes), il veille à ce que cette dernière : (i) applique des pratiques commerciales durables sur le
plan économique (par exemple, la durabilité et la stabilité de sa stratégie, de ses opérations et de son
financement) ; (ii) prend des mesures appropriées pour gérer les conséquences ou incidences significatives de ses politiques et opérations en lien avec les
questions ESG (par ex., son empreinte environnementale,
ses standards en matière de travail, la structure de son conseil d’administration) ; et (iii) contribue dans le cadre de ses activités en cours, ou prévoit de contribuer sur le long terme à améliorer la pertinence ou l’efficience des systèmes de santé de façon démontrable.
Ces sociétés sont également susceptibles d’inclure les Sociétés innovantes dans le domaine des soins intelligents dont les activités commerciales sont
identifiées comme transitionnelles dans le sens où il est certain qu’elles aient un impact futur positif sur l’environnement ou la société, malgré un historique
reflétant leur implication dans des activités potentiellement nocives d’un point de vue environnemental ou social. Par exemple, il peut s’agir d’une grande société pharmaceutique dédiée
historiquement à la production de médicaments coûteux pour soigner certaines maladies chroniques, qui investit désormais massivement dans la technologie génétique pour développer des traitements à dose unique. Pour lever toute ambiguïté, il convient de noter que ces
investissements seront des Investissements durables SFDR au moment de l’achat. De la même manière, dans certains cas, le Compartiment peut investir dans une
société au regard de laquelle le Gestionnaire de portefeuille détermine quelles sont les informations et
données ESG prévalentes provenant d’un fournisseur de
notations ESG externe, qui ne reflètent pas
complètement les initiatives positives en faveur de l’environnement de ladite société.
Le Gestionnaire de portefeuille s’attend à ce que, en cherchant à identifier des sociétés qui contribuent aux objectifs sociaux en améliorant la pertinence et
l’efficience des systèmes de santé à travers l’innovation
dans la biotechnologie et les soins de santé et qui sont
compatibles avec ses critères ESG et de durabilité, au moins 20 % des composantes de l’Indice de référence soient exclues de l’univers d’investissement du Compartiment.
En outre, au moins 90 % de la valeur liquidative du Compartiment (nette de toute exposition du Compartiment aux actifs liquides et quasi liquides, fonds
du marché monétaire et IFD sur devises [les « Actifs non ESG »]) doit être constituée d’actifs répondant aux critères ESG et de durabilité du Gestionnaire de portefeuille au moment de l’achat et sur une base continue. Pour lever toute ambiguïté, il convient de noter
que les Actifs non ESG ne sont pas tenus de remplir ces
critères. Aucun investissement ne sera effectué dans le titre d’une société réputée avoir des problèmes environnementaux, sociaux ou de gouvernance importants
et insolubles.
Afin de déterminer si une société répond à ses critères ESG et de durabilité, le Gestionnaire de portefeuille utilise une combinaison de données externes et internes, de recherches et de notations à la fois quantitatives et qualitatives.
Le Gestionnaire de portefeuille dépend des informations et des données de tiers (qui peuvent inclure des informations fournies par des services de recherche, des rapports, des résultats de filtrages, notations ou
d’analyses tels que produits par les fournisseurs d’indices et les consultants). Ces informations ou données peuvent s’avérer incomplètes, inexactes ou incohérentes.
Les investissements du Compartiment doivent continuer à répondre aux critères ESG et de durabilité du Gestionnaire de portefeuille de manière constante après leur acquisition initiale, et ce dernier évaluera le niveau
de risque en matière de durabilité auquel une société peut être soumise de la même manière qu’avant l’acquisition initiale.
Critères de vente
Le Gestionnaire de portefeuille procède à des revues régulières de la performance de chaque investissement et engage parfois, à cette fin, un dialogue direct avec la direction de la société concernée. Les revues des performances comprennent une évaluation de la
performance d’un investissement par rapport à son groupe de pairs ainsi qu’à l’Indice de référence. Le Gestionnaire de portefeuille envisagera de vendre des
titres dont le potentiel de croissance est limité ou
inexistant, dont la valeur devrait diminuer ou lorsque des opportunités d’investissement plus prometteuses sont disponibles, en particulier si le risque associé aux
probabilités de réussite des essais menés pour des médicaments spécifiques est considéré comme élevé.

##### Règlement sur la publication d’informations en matière de finance durable
Le Compartiment intègre le risque en matière de durabilité dans son processus de décision
d’investissement et poursuit un objectif d’investissement durable aux fins de l’Article 9 du SFDR.
La prise en compte du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque en matière de durabilité associé aux investissements
sous-jacents, il évalue le risque qu’un événement ou une
condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Le Gestionnaire de portefeuille a accès à diverses
catégories de données ESG fournies par des fournisseurs tiers, qui permettent d’identifier les problèmes ESG potentiels auxquels un émetteur peut être confronté.
Cela inclut, entre autres, l’exposition à des activités
pouvant être considérées comme nocives pour l’environnement ou la société. Ces données, ainsi que celles obtenues par le Gestionnaire de portefeuille dans le cadre de sa propre recherche sur l’investissement responsable, constituent une part importante de la prise en compte et de l’évaluation du niveau de risque en matière de durabilité auquel un investissement peut être
soumis.
Cette évaluation est intégrée au processus de recherche
au niveau des titres, qui repose sur une analyse fondamentale des opportunités d’investissement individuelles à travers un certain nombre de facteurs
différents, notamment :
- les caractéristiques financières ou économiques fondamentales ;
- l’évaluation ;
- le profil risque/rendement ; et
- les caractéristiques ESG de l’émetteur, y compris la compréhension de la manière dont ces considérations peuvent avoir un impact sur lesrendements économiques.

Le Gestionnaire de portefeuille tiendra compte des informations recueillies à partir de l’analyse fondamentale dans sa décision d’acquérir une participation dans une société émettrice ou de conserver
une position donnée.
Si le risque en matière de durabilité associé à un investissement particulier augmente au-delà d’un niveau jugé acceptable par le Gestionnaire de portefeuille, en
prenant en compte l’objectif et la stratégie d’investissement du Compartiment, le Gestionnaire de portefeuille envisagera de vendre ou de réduire l’exposition du Compartiment à l’investissement
concerné, en tenant compte au mieux des intérêts des
Actionnaires du Compartiment.
Comme expliqué ci-dessus, l’évaluation et la gestion des risques de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours possible qu’un
Événement ESG ait une incidence négative importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure
actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Ce Compartiment est certes classé au sens de l’Article 9 du SFDR du fait qu’il vise à contribuer à des objectifs sociaux, mais ne cherche pas pour autant à contribuer à
des objectifs environnementaux. Par conséquent, les
investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Enregistrement en Allemagne
Ce Compartiment est enregistré à la vente en Allemagne. Le Compartiment est classé en tant que Fonds
d’investissement aux fins de l’impôt allemand et, à ce
titre, il investira en permanence plus de 50 % de ses actifs en actions au sens de l’Article 2, paragraphe 8 de la Loi allemande sur la fiscalité des investissements.

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 100 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés,
options, swaps et contrats à terme. Le Compartiment peut aussi utiliser des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale.
En utilisant des IFD à des fins de GEP, le Compartiment peut obtenir une exposition indirecte aux indices financiers.
Veuillez consulter la section du Prospectus intitulée « La Société – Gestion efficace de portefeuille » pour de plus amples informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Accords de prêt de titres
Ce Compartiment n’aura pas recours aux accords de prêt de titres et peut donc renoncer à tout rendement supplémentaire pouvant être généré par ces activités.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de mise/prise en pension, comme décrit ci- dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Couverture des catégories d’actions
Ce Compartiment propose des catégories d’actions couvertes. Ces catégories d’actions sont indiquées par le suffixe « (couverte) ». Veuillez consulter la section intitulée « Couverture des catégories d’actions » dans le Prospectus pour plus d’informations sur le fonctionnement et l’impact des catégories d’actions couvertes.

#### Émission d’Actions
La Période d’offre initiale de toutes les catégories d’actions lancées est désormais clôturée. La Période d’offre initiale des catégories d’actions non lancées se poursuivra jusqu’au 30 novembre 2022 ou jusqu’à une
date antérieure ou ultérieure à celle où les premières Actions de la catégorie d’actions concernée seront émises, et à laquelle la Période d’offre initiale prendra automatiquement fin. Vous trouverez des informations
détaillées sur les catégories d’actions du Compartiment sur le site Internet www.bnymellonim.com.
Les Actions des catégories non lancées disponibles seront émises pendant leur Période d’offre initiale respective à leur prix d’offre initiale par Action respectif, à savoir de 1 USD, 1 EUR, 1 GBP, 1 CHF,10 HKD, ou 1 SGD,
selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente applicable à la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout
intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés le 31 décembre de chaque année.
Concernant les détenteurs d’Actions de distribution, les
dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.
Les commissions et frais liés à la constitution et à l’organisation du Compartiment, y compris les honoraires des conseillers professionnels du Compartiment seront
pris en charge par le Compartiment. Ces commissions et frais sont estimés à un maximum de 30 000 € et seront pris en charge par le Compartiment et amortis sur une
période de 3 ans à partir de son lancement.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur la section intitulée « Facteurs de Risque » du Prospectus et plus
spécifiquement sur celle intitulée « Risque de concentration ».

## Responsible Horizons Euro Impact Bond Fund

### SUPPLÉMENT 60, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».


#### Gestionnaire de portefeuille
Insight Investment Management (Global) Limited

#### Devise de référence
Euro

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée
occasionnellement par les Administrateurs, à condition que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les
tableaux ci-après et se différencient par leur devise de référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR A (Cap.) | EUR | 5 000 | 5 % | 0,40 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 0,40 % | 0 % |
| USD H (Cap.) (couverte) | USD | 5 000 | 5 % | 0,40 % | 0 % |
| USD H (Dist.) (couverte) | USD | 5 000 | 5 % | 0,40 % | 0 % |
| DKK H (Cap.) (couverte) | DKK | 50 000 | 5 % | 0,40 % | 0 % |
| SEK H (Cap.) (couverte) | SEK | 50 000 | 5 % | 0,40 % | 0 % |
| NOK H (Cap.) (couverte) | NOK | 50 000 | 5 % | 0,40 % | 0 % |

| Actions « G » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 0,20 % | 0 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 0,20 % | 0 % |

| Actions « C » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro C (Cap.) | EUR | 5 000 000 | 5 % | 0,20 % | 0 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 0,20 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,15 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,15 % | 0 % |
| USD W (Cap.) (couverte) | USD | 15 000 000 | 5 % | 0,15 % | 0 % |
| USD W (Dist.) (couverte) | USD | 15 000 000 | 5 % | 0,15 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,15 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,15 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,15 % | 0 % |
| DKK W (Cap.) (couverte) | DKK | 150 000 000 | 5 % | 0,15 % | 0 % |
| SEK W (Cap.) (couverte) | SEK | 150 000 000 | 5 % | 0,15 % | 0 % |
| NOK W (Cap.) | NOK | 150 000 000 | 5 % | 0,15 % | 0 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro E (Cap.) | EUR | Comme convenu | 5 % | 0,08 % | 0 % |
| Euro E (Dist.) | EUR | Comme convenu | 5 % | 0,08 % | 0 % |
| USD E (Cap.) (couverte) | USD | Comme convenu | 5 % | 0,08 % | 0 % |
| USD E (Dist.) (couverte) | USD | Comme convenu | 5 % | 0,08 % | 0 % |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,08 % | 0 % |
| Sterling E (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,08 % | 0 % |
| CHF E (Cap.) (couverte) | CHF | Comme convenu | 5 % | 0,08 % | 0 % |
| DKK E (Cap.) (couverte) | DKK | Comme convenu | 5 % | 0,08 % | 0 % |
| SEK E (Cap.) (couverte) | SEK | Comme convenu | 5 % | 0,08 % | 0 % |
| NOK E (Cap.) | NOK | Comme convenu | 5 % | 0,08 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Cap.) (couverte) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) (couverte) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Cap.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Cap.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à générer un impact
environnemental et/ou social positif tout en dégageant un rendement total constitué d’un revenu et d’une
croissance du capital en investissant dans une gamme
étendue de titres de créance et apparentés libellés en euros et dans des IFD liés auxdits placements.

##### Politique d’investissement
Tous les investissements des Compartiments, autres que ceux créés à des fins spécifiques comme des fins de
couverture ou de liquidité répondront à la définition d’Investissements durables SFDR.
Les Investissements durables SFDR désignent les investissements au sein de sociétés qui contribuent à un objectif environnemental ou social, sous réserve de ne
pas causer de préjudice important à l’un quelconque de
ces objectifs et que ces sociétés suivent de bonnes
pratiques en matière de gouvernance.
Le Compartiment investira dans deux types d’investissements :
- Obligations à impact avec affectation des produits d’émission : titres de créance et apparentés à taux fixe ou variable, y compris des IFD liés auxdits placements, dont les produits d’émission seront exclusivement affectés au financement ou aurefinancement, en partie ou en totalité, de projets ayant des impacts environnementaux (« verts ») et/ou sociaux positifs et/ou des projets définis comme« activités économiques durables sur le plan environnemental » par le Règlement sur la taxonomiede l’UE.
- Titres d’émetteurs à impact : titres de créance et apparentés à taux fixe ou variable provenant d’émetteurs dont au moins 50 % des flux de revenus proviennent d’activités ayant un impactenvironnemental et/ou social positif selon lesorientations fournies par les Objectifs de développement durable des Nations Unies, ou dont au moins 50 % des activités sont définies comme« activités économiques durables sur le plan environnemental » par le Règlement sur la taxonomiede l’UE.

Le Compartiment investira au moins 75 % de sa Valeur liquidative dans des « Obligations à impact avec
affectation des produits d’émission » de qualité
investment grade.
Le Compartiment investira au moins 70 % de sa Valeur liquidative dans des Titres de créance et apparentés libellés en euros.
Le Compartiment peut investir jusqu’à 30 % de sa Valeur liquidative dans des titres de créance d’État et apparentés à taux fixe ou variable.
Les titres de créance et apparentés que le Compartiment peut investir comprennent des billets de trésorerie à taux fixe et variable, des placements privés (comme les
titres 144A ou Reg. S), des obligations d’entreprise
hybrides, des obligations à taux progressif, des
obligations sécurisées, des débentures, des obligations avec remboursement anticipé à l’option du détenteur (puttable) ou de l’émetteur (callable) des obligations à
coupon zéro, des bons de souscription ainsi que des
euro-obligations et des obligations Bullet, des obligations d’agences supranationales, des obligations d’agences, des obligations d’État à taux fixe et variable, des obligations municipales, des obligations indexées et des
obligations indexées sur l’inflation (« ILB ») ainsi que des
instruments du marché monétaire (tels que des
certificats de dépôts, des billets de trésorerie et des dépôts à un jour) et des IFD y afférents (tels qu’énumérés dans la section « Utilisation d’IFD » ci-dessous), ci-après désignés « titres de créance et apparentés ».
Le Compartiment peut investir jusqu’à 5 % de sa Valeur liquidative globalement dans des placements privés (tels que certains titres Reg. S. et certains titres 144A).
Le Compartiment peut investir jusqu’à 5 % de sa Valeur liquidative dans des bons de souscription.
Le Compartiment investira dans des Titres de créance et apparentés de qualité investment grade notés par une Agence de notation reconnue. Les Titres de créance et
apparentés sont classés dans la catégorie investment grade si, au moment de l’achat, la notation moyenne du titre est supérieure à Ba1/BB+/BB+. Le Compartiment peut en outre investir jusqu’à 20 % dans des Titres de créance et apparentés de qualité inférieure à investment
grade.
Le Compartiment n’investira pas dans des Titres de créance et apparentés assortis, à la date de leur achat, d’une note inférieure à B- (ou son équivalent), telle qu’attribuée par une Agence de notation reconnue. Afin de lever toute ambiguïté, le Compartiment n’investira pas dans des titres adossés à des actifs, des titres adossés à des créances hypothécaires ou d’autres instruments liés
à un risque de crédit. Le Compartiment peut investir dans
des Titres de créance et apparentés non notés, à condition que le Gestionnaire de portefeuille les juge de qualité équivalente, comme indiqué ci-dessus. En cas de
divergence de notation (c’est-à-dire si différentes
notations sont attribuées par deux agences de notation
ou plus), la plus basse des deux notations les plus élevées sera prise en considération. Si un Titre de créance ou apparenté détenu par le Compartiment est subséquemment dégradé en dessous des limites susmentionnées, le Gestionnaire de portefeuille pourra maintenir une exposition au titre en question, à concurrence maximale de 3 % de sa Valeur liquidative. Si la valeur totale de ces titres ou instruments dépasse 3 % de la Valeur liquidative du Compartiment, tout titre ou
instrument qui n’a pas été revalorisé dans un délai de six
mois sera vendu. Les expositions découlant de participations sous-jacentes d’organismes de placement collectif (« OPC ») seront prises en compte dans l’application des restrictions énoncées dans le présent paragraphe.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des OPC à capital variable, y compris des fonds négociés en Bourse (« ETF ») et des fonds
monétaires. Les OPC peuvent inclure un ou plusieurs autres Compartiments de la Société ou d’autres fonds conseillés par le Gestionnaire de portefeuille. Tout
investissement dans des ETF à capital fixe constitué de
valeurs mobilières sera effectué conformément aux critères et aux limites d’investissement applicables aux valeurs mobilières, comme exposé au chapitre « La Société – Restrictions en matière d’investissement et
d’emprunt » du Prospectus.
Le Compartiment peut également détenir des niveaux élevés de liquidités et d’instruments du marché monétaire dans certaines circonstances. Veuillez vous
référer à la section « Gestion de la liquidité et des garanties » pour obtenir des informations plus détaillées.
Le Compartiment vise à investir dans le monde entier, sans industrie ou secteur de prédilection particulier ; cependant, il pourra parfois se concentrer sur des
régions géographiques ou des secteurs particuliers en fonction de l’opportunité d’investissement identifiée par le Gestionnaire de portefeuille.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des marchés émergents, dont près de
10 % dans des actions russes cotées ou négociées à la Bourse de Moscou.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative globale dans des valeurs mobilières (c’est-à- dire des Titres de créance et apparentés) qui ne sont pas
admises ou négociées sur un Marché éligible, conformément à la Réglementation OPCVM. À l’exception des investissements autorisés dans des valeurs
mobilières non cotées et dans des instruments du marché monétaire approuvés, les investissements du Compartiment doivent être cotés ou négociés sur des
Marchés éligibles. Une liste des Marchés éligibles est exposée à l’Annexe II du Prospectus.
Bien que la devise de référence du Compartiment soit l’EUR, le Compartiment peut investir dans des actifs non libellés en EUR, qui seront généralement couverts en EUR par le biais d’IFD sur devises. Les IFD sur devises qui peuvent être utilisés par le Compartiment à des fins de
couverture sont décrits plus en détail dans le Prospectus, dans la section intitulée « Techniques et instruments financiers dérivés ».

##### Gestion de la liquidité et des garanties
Le Compartiment détiendra des actifs liquides et quasi liquides dans certaines circonstances, telles que pour satisfaire aux demandes de rachat, faciliter le paiement des frais, conserver des liquidités en attente de
réinvestissement et fournir des liquidités et des garanties pour les contrats d’IFD. Dans des circonstances exceptionnelles, le Compartiment peut détenir
temporairement des niveaux élevés de liquidités et d’actifs quasi liquides (jusqu’à 100 % de sa Valeur liquidative), lorsque les conditions de marché requièrent l’adoption d’une stratégie d’investissement défensive (par exemple, un krach boursier ou une crise majeure).
Les actifs quasi-liquides peuvent inclure les instruments du marché monétaire et les dépôts bancaires. Il est prévu que les émetteurs et/ou garants de tous ces titres et instruments auront une notation de crédit, au moment de
l’achat, au moins égale à A1/P1 (ou son équivalent)
publiée par une Agence de notation reconnue, ou seront jugés être d’une qualité équivalente par le Gestionnaire de portefeuille. Les actifs liquides ne doivent pas être
des Obligations à impact avec affectation des produits d’émission ni refléter ou promouvoir d’une autre manière des impacts sociaux et/ou environnementaux positifs.

##### Indice de référence
L’indice Bloomberg Barclays MSCI Euro Corporate Green Bond Index (l’« Indice de référence »).
L’Indice de référence inclut des obligations d’entreprise vertes à taux fixe libellées en euro de qualité investment grade, La sélection repose sur la devise de l’émission, et non sur le lieu de domiciliation de l’émetteur.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour investir en dehors de l’Indice de référence sur la base de son objectif et de sa politique d’investissement. Cependant, du fait que l’Indice de référence couvre une part importante de l’univers d’investissement, la majorité des
participations du Compartiment seront des composantes de l’Indice de référence. Les pondérations du portefeuille pourront également être similaires à celles de l’Indice de référence. La stratégie d’investissement limitera la mesure dans laquelle les participations du portefeuille peuvent s’écarter de l’Indice de référence et, par conséquent, la mesure dans laquelle le Compartiment peut surclasser l’Indice de référence.
L’Indice de référence inclut uniquement des obligations d’entreprise vertes à taux fixe libellées en euro de qualité investment grade, qui constituent un sous-ensemble du marché des obligations d’entreprise au sens large.
L’Indice de référence est aligné sur l’objectif d’investissement durable, car l’utilisation du produit de
ces obligations est liée au financement de projets
spécifiques avec un objectif environnemental positif. Il se différencie d’un indice de marché général qui n’a pas les mêmes références ou composantes vertes. Vous trouverez ici des informations sur l’Indice de référence, notamment sur la méthode de calcul utilisée à son
égard :
https://www.msci.com/our-solutions/indexes/bloomberg- msci-esg-fixed-income-indexes

##### Stratégie d’investissement
L’univers d’investissement de base du Compartiment reflétera principalement celui de l’Indice de référence, lequel comprend uniquement des Obligations à impact avec affectation des produits d’émission vertes, mais inclura également des Titres d’émetteurs à impact et des Obligations à impact avec affectation des produits d’émission autres que celles qualifiées de vertes, comme
celles où les produits sont utilisés pour financer ou au
refinancer, en partie ou en totalité des projets sociaux.
Comme détaillé ci-après, le Gestionnaire de portefeuille filtre ensuite tous les émetteurs à l’aide des critères ESG afin de créer un univers d’investissement réduit et optimisé sur le plan ESG. Dans cet univers d’investissement, le Gestionnaire de portefeuille utilise
ensuite une approche thématique pour identifier les titres
et les émetteurs qui, selon lui, atteindront à la fois les objectifs de durabilité et de performance du Compartiment, en procédant à une allocation positive dans les titres et émetteurs dont la notation est la plus élevée (best-in-universe). Le Gestionnaire de portefeuille utilise les Objectifs de développement durable des
Nations Unies à titre d’orientation pour évaluer les
objectifs environnementaux ou sociaux des émetteurs
dans le cadre de son approche thématique. comme décrit plus en détail ci-dessous.
Le Gestionnaire de portefeuille a recours à ses propres recherches et analyses de crédit pour investir dans des
Obligations à impact avec affectation des produits d’émission et s’appuie sur un certain nombre de critères
pour évaluer un investissement. Le cadre de travail tient compte, sans s’y limiter, du degré de transparence en matière d’affectation des produits d’émission et de la mesurabilité de tout impact exercé par l’émetteur ainsi que de l’alignement général de ce dernier sur les
questions de durabilité. Les titres sont classés en vert
foncé (best-in-class), vert clair (critères de durabilité
relativement faibles) ou rouge (ne pas investir). Les titres classés en rouge seront exclus de l’univers d’investissement.
Outre les Obligations à impact avec affectation des produits d’émission, le Gestionnaire de portefeuille peut chercher à investir dans des Titres d’émetteurs à impact. Le processus appliqué pour analyser les flux de revenus
générés par les Émetteurs à impact et émettre une opinion à leur égard s’appuie sur des données à la fois externes (notamment fournies par Bloomberg, MSCI,
Sustainalytics, Vigeo Eiris et autres prestataires) et internes. Le Gestionnaire de portefeuille peut utiliser
d’autres données pour évaluer le niveau d’adéquation en place de l’émetteur, notamment une analyse de la compatibilité de ce dernier avec une économie à faible
teneur en carbone.
Tant pour les Obligations à impact avec affectation des produits d’émission que pour les Titres d’émetteurs à impact, le Gestionnaire de portefeuille pourra s’appuyer sur des données internes et externes pour déterminer si
les activités des émetteurs investis sont des « activités économiques durables sur le plan environnemental » au
sens du Règlement sur la taxonomie de l’UE.
Le principe « ne cause pas de préjudice important » sera appliqué pour tous les investissements.
Eu égard à l’ensemble des investissements, les émetteurs jugés avoir des impacts négatifs (par exemple, en raison de risques carbone élevés et/ou de violations
graves des normes internationalement acceptées, dont, entre autres, celles en matière de corruption, des droits
du travail ou de l’impact environnemental) seront exclus. Les émetteurs seront également exclus lorsqu’une part significative de leurs revenus ou modèles d’affaires provient de produits ou processus considérés comme
inappropriés pour le Compartiment selon ses critères de durabilité (par exemple, le tabac, la défense et les jeux
d’argent).
Les instruments qui cessent de remplir ces critères après leur achat seront vendus. Par ailleurs, le Compartiment pourra conserver cet instrument pendant que le Gestionnaire de portefeuille entame un dialogue avec
l’émetteur afin de remédier à la question faisant l’objet de préoccupation. Si dans les 12 mois, l’émetteur n’a pas pris de mesures raisonnables pour résoudre cette
question, le Gestionnaire de portefeuille vendra cet investissement.
En ce qui concerne les données externes, le Gestionnaire de portefeuille dépend des informations et des données de tiers (qui peuvent inclure des informations fournies par des services de recherche, des rapports, des
résultats de filtrages, notations ou d’analyses tels que produits par les fournisseurs d’indices et les consultants). Ces informations ou données peuvent s’avérer incomplètes, inexactes ou incohérentes.
Afin d’évaluer si un investissement répondant aux critères de durabilité du Gestionnaire de portefeuille
répond également à son objectif de rendement, ce dernier aura principalement recours à l’analyse de crédit ascendante pour effectuer sa sélection de titres. Celle-ci
consiste à évaluer la solvabilité de l’émetteur et intègre un examen des indicateurs de crédit clés, tels que l’endettement et les flux de trésorerie. Une évaluation de la valeur relative des Titres de créance et apparentés de l’émetteur par rapport à des Titres de créance et apparentés comparables peut également être effectuée
pour compléter la recherche et l’analyse de crédit. Cette approche vise à identifier, à l’échelle mondiale et sans ciblage géographique ou sectoriel spécifique, les Titres
de créance et apparentés présentant un bon potentiel de rendement total.
Au moins 90 % des instruments détenus dans le Compartiment doivent répondre aux critères de durabilité
décrits ci-dessus au moment de l’achat et sur une base
continue, et aucun investissement ne sera effectué dans
un instrument lié à une société réputée avoir des problèmes environnementaux importants et insolubles.
Les positions courtes synthétiques sont généralement utilisées pour couvrir le risque de crédit ou de taux
d’intérêt global du portefeuille. Par exemple,s’il souhaite réduire le risque de crédit d’une obligation d’entreprise particulière, mais peut ne pas être en mesure de vendre l’obligation à un prix intéressant, le Gestionnaire de
portefeuille prendra une position courte synthétique sur
cette obligation. Le Compartiment n'aura pas recours à la vente à découvert pour réaliser son objectif
d’investissement.
La gouvernance d’entreprise est un facteur de risque clé en matière de durabilité pris en considération dans les évaluations de risque ESG effectuées en interne pour
tous les émetteurs de titres auxquelles le Compartiment se trouve exposé. Dans le cadre de son processus
d’évaluation de la gouvernance d’entreprise, le
Gestionnaire de portefeuille analyse les pratiques, le
comportement, la rémunération, le contrôle, les responsabilités et l’éthique du conseil d’administration ainsi que les controverses dont il fait l’objet. Le Gestionnaire de portefeuille utilise les résultats des
évaluations ESG, en plus de ses propres connaissances
des structures de gouvernance des émetteurs, pour fixer des priorités d’engagement avec ces derniers. Le Gestionnaire de portefeuille examine ces risques dans
leur ensemble afin de décider si les titres obligataires compensent raisonnablement le Compartiment pour les risques en matière de durabilité à long et court terme.
Les contrôles internes garantissent une application permanente des critères de durabilité au Compartiment. Les restrictions ESG sont destinées à empêcher ou
permettre l’investissement dans des titres qui répondent
à des caractéristiques de durabilité. Ces contrôles sont
codés par rapport au Compartiment et mis à jour à mesure que de nouvelles informations sont reçues et intégrées.

##### Règlement sur la publication d’informations en matière de finance durable
Le Compartiment intègre le risque en matière de
durabilité dans son processus de décision d’investissement et poursuit un objectif d’investissement durable aux fins de l’Article 9 du SFDR.
Lorsque le Gestionnaire de portefeuille évalue le risque
en matière de durabilité associé aux investissements sous-jacents, il évalue le risque qu’un événement ou une condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Les risques en matière de durabilité sont inclus dans le programme d’investissement responsable du Gestionnaire de portefeuille et sont gérés en veillant à ce que les décideurs de haut rang soient informés et à l’aide des procédures efficaces de responsabilisation, de transparence et d’application. Lorsqu’elles sont considérées comme importantes pour les résultats
d’investissement, questions de risque en matière de durabilité sont intégrées au processus d’étude préalable. Cette mesure peut inclure l’évaluation de titres individuels et/ou l’interaction avec des émetteurs ou des
acteurs du marché. Les contrôles internes garantissent
une application permanente des critères de durabilité. Les restrictions ESG, qui comprennent des notations ESG attribuées en interne et des données externes fournies par des tiers, sont destinées à empêcher ou permettre
l’investissement dans des titres qui répondent à des
caractéristiques de durabilité. Ces contrôles sont codés
et mis à jour à mesure que de nouvelles informations
sont reçues et intégrées. Un processus de recherche et/ ou d’engagement ESG vise à aider le Gestionnaire de portefeuille à atteindre les objectifs d’investissement et de durabilité ciblés du Compartiment.
Comme détaillé dans la section intitulée « Stratégie d’investissement », la gouvernance d’entreprise est un facteur de risque clé en matière de durabilité et fait
partie du processus de notation des risques ESG interne appliqué à tous les émetteurs.
En termes de facteurs sociaux et environnementaux, la méthode de notation ESG interne du Gestionnaire de
portefeuille fournit des informations spécifiques au secteur et à l’émetteur sur des questions clés. Ce modèle aide le Gestionnaire de portefeuille à identifier les
risques clés auxquels un secteur ou un émetteur spécifique peut être confronté.
Étant donné que le Compartiment a un objectif d’investissement durable, le Gestionnaire de portefeuille peut délibérément renoncer à investir dans certains émetteurs et choisir de vendre un titre alors qu’il pourrait être désavantageux de le faire. Au lieu de cela, le
Compartiment peut se concentrer sur des
investissements dans des émetteurs qui adhèrent aux principes de l’investissement responsable. L’univers d’investissement du Compartiment est par conséquent plus petit que celui des autres fonds, ce qui peut affecter
sa performance. Il est par ailleurs toujours possible qu’un
Événement ESG ait une incidence négative sur sa valeur.
Le Gestionnaire a prudemment évalué les exigences du
régime des principales incidences négatives prévu à l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure
actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du
régime en matière de reporting. Le Gestionnaire continue d’analyser les données disponibles qui seraient nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations
en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les Critères d’examen technique (« CET » du Règlement sur la taxonomie de l’UE exigeront la disponibilité de plusieurs points de données spécifiques concernant
chaque investissement. À la date des présentes, le Gestionnaire ne dispose pas de données suffisamment fiables, opportunes et vérifiables pour pouvoir évaluer les
investissements du Compartiment à l’aide des TSC.
Par ailleurs, les normes techniques réglementaires du SFDR qui définissent la méthode de calcul de la part des produits financiers (tels que le portefeuille du
Compartiment) alignés sur le Règlement sur la taxonomie de l’UE ainsi que les modèles de communication des informations requises ne sont pas encore définitivement établis. À la date des présentes, le Gestionnaire n’est pas en mesure de fournir des données normalisées et comparables permettant d’évaluer l’alignement des investissements du Compartiment au sens du Règlement sur la taxonomie de l’UE.
Bien que certains investissements du Compartiment appartiennent à des activités économiques qui contribuent à un objectif environnemental et pourraient
faire l’objet d’une évaluation mesurée à l’aide des TSC, le Gestionnaire n’a pas actuellement la possibilité de décrire :
- la mesure dans laquelle les investissements du Compartiment sont réalisés dans des Activités économiques durables sur le plan environnemental ;
- la proportion, en pourcentage de la taille du portefeuille du Compartiment, d’investissements réalisés dans des Activités économiques durables surle plan environnemental ;
- les proportions respectives, en pourcentage de la taille du portefeuille du Compartiment, des investissements réalisés dans des Activités habilitantes et des Activités transitoires au sens duRèglement sur la taxonomie de l’UE ;Le Gestionnaire suit activement l’évolution de la situation et fournira, dès qu’il disposera de données suffisamment précises, fiables et vérifiables sur les investissements duCompartiment, les informations auxquelles il est fait référence ci-dessus. Le Prospectus et le Supplément correspondant seront alors actualisés en conséquence.


#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en
Bourse ou de gré à gré suivants, à des fins d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur taux d’intérêt (y compris à court terme) Contrats à terme standardisés sur obligations d’État Contrats à terme standardisés sur obligations |
| --- | --- |
| Swaps | Swaps de défaut de crédit Indice/panier de swaps de défaut de crédit Swaps de taux d’intérêt Swaps de rendement total (TRS) (sur valeur individuelle, crédit, indice et panier personnalisé) |

| Titres | Obligations avec remboursement anticipé à l’option du |
| --- | --- |
| avec IFD | détenteur (puttable) ou de l’émetteur (callable) |
| intégrés/ | Bons de souscription |
| effet de |  |
| levier |  |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne peut pas accéder
directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », credit default swap) utilisés pour offrir une exposition aux marchés de titres à revenu fixe d’une manière plus rentable ou plus efficace que par l’achat de titres physiques. | Markit iTraxx Europe Main 5 ans Markit iTraxx Europe Crossover 5 ans Markit iTraxx Europe Senior Financials 5 ans Markit iTraxx Europe Subordinated Financials 5 ans |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Toutefois,
sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement
affecté par les rééquilibrages, les coûts associés ou la pondération des actions de l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 100 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps, contrats à terme, et bons de
souscription. Le Compartiment peut aussi utiliser des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez
consulter la section du Prospectus intitulée « La Société – Gestion efficace de portefeuille » pour de plus amples informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Accords de prêt de titres
Ce Compartiment n’aura pas recours aux accords de prêt de titres et peut donc renoncer à tout rendement supplémentaire pouvant être généré par ces activités.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des OFT, c’est à
dire des accords de mise/prise en pension, comme décrit
sous la rubrique « Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et
aux OFT correspondent respectivement à 30 % et 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que ces expositions respectives aux TRS et aux OFT excèdent 20 % et 30 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet de TRS et OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en
pension et accords de prêt de titres », « Gestion efficace
de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
Les Actions des catégories d’actions non lancées disponibles seront proposées durant une Période d’offre initiale, débutant à 9 h le 4 mai 2022 et s’achevant à 17 h le 3 novembre 2022, à un prix d’offre initial par Action de
1 EUR, 1 USD, 1 GBP, 1 CHF, 10 DKK, 10 SEK, 10 NOK ou
1 CAD selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente de la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés trimestriellement, les
31 décembre, 31 mars, 30 juin et 30 septembre. En ce qui concerne les détenteurs d’Actions de distribution, les dividendes déclarés seront normalement versés au plus
tard le 11 février, le 11 mai, le 11 août et le 11 novembre,
respectivement. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.
Les commissions et frais liés à la constitution et à l’organisation du Compartiment, y compris les honoraires des conseillers professionnels du Compartiment seront
pris en charge par le Compartiment. Ces commissions et frais sont estimés à un maximum de 30 000 € et seront pris en charge par le Compartiment et amortis sur une
période de 3 ans à partir de son lancement.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Dynamic Factor Premia V10 Fund

### SUPPLÉMENT 61, DATÉ DU 3 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment investira principalement dans des instruments financiers dérivés (« IFD ») et utilisera ces IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci-après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée« Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Newton Investment Management North America LLC

#### Gestionnaire de portefeuille délégué
Le Gestionnaire d’investissement peut déléguer certaines ou la totalité de ses fonctions de gestion d’investissement eu égard au présent Compartiment à Newton Investment Management Limited (le
« Gestionnaire de portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique « Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin et aux États-Unis.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que tous les Actionnaires en seront préalablement avisés et
qu’il devra y avoir au moins un Jour d’évaluation par
semaine.

#### Heure d’évaluation
22 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée occasionnellement par les Administrateurs, à condition
que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale
et le niveau des commissions et frais prélevés. Les catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD A (Cap.) | USD | 5 000 | 5 % | 1,50 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 1,50 % | 0 % |
| Euro H (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| Euro H (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,50 % | 0 % |
| DKK H (Cap.) (couverte) | DKK | 50 000 | 5 % | 1,50 % | 0 % |
| SEK H (Cap.) (couverte) | SEK | 50 000 | 5 % | 1,50 % | 0 % |
| NOK H (Cap.) (couverte) | NOK | 50 000 | 5 % | 1,50 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 0,75 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 0,75 % | 0 % |
| Euro I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 0,75 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 0,75 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,55 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,55 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,55 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,55 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,55 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,55 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,55 % | 0 % |
| DKK W (Cap.) (couverte) | DKK | 150 000 000 | 5 % | 0,55 % | 0 % |
| SEK W (Cap.) (couverte) | SEK | 150 000 000 | 5 % | 0,55 % | 0 % |
| NOK W (Cap.) (couverte) | NOK | 150 000 000 | 5 % | 0,55 % | 0 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD E (Cap.) | USD | Comme convenu | 5 % | 0,30 % | 0 % |
| USD E (Dist.) | USD | Comme convenu | 5 % | 0,30 % | 0 % |
| Euro E (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,30 % | 0 % |
| Euro E (Dist.) (couverte) | EUR | Comme convenu | 5 % | 0,30 % | 0 % |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,30 % | 0 % |
| Sterling E (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,30 % | 0 % |
| CHF E (Cap.) (couverte) | CHF | Comme convenu | 5 % | 0,30 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Cap.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| Sterling X (Dist.) (couverte) | GBP | Aucun(e) | 0 % | 0 % | 0 % |
| CHF X (Cap.) (couverte) | CHF | Aucun(e) | 0 % | 0 % | 0 % |
| CAD X (Cap.) (couverte) | CAD | Aucun(e) | 0 % | 0 % | 0 % |
| AUD X (Cap.) (couverte) | AUD | Aucun(e) | 0 % | 0 % | 0 % |
| AUD X (Dist.) (couverte) | AUD | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à atteindre un rendement total
supérieur à un indice de référence monétaire (tel que décrit ci-dessous) sur un horizon d’investissement de 3 à 5 ans et une volatilité cible de 10 % par le biais d’une approche multi-actifs en termes d’allocation d’actifs et de sélection de titres. Cependant, rien ne permet de
garantir que cet objectif sera atteint au cours de cette période ou de toute autre période.

##### Politique d’investissement
Le Compartiment vise à investir dans un ensemble diversifié de primes ou de facteurs de risque à travers des actions, obligations, devises et la volatilité du
marché d’actions ayant une faible corrélation avec les
actifs à risque traditionnels, de manière transparente,
rentable en matière de coûts et en préservant une certaine liquidité, par le biais d’IFD (tels que décrits dans la section « Utilisation d’IFD »). Pour de plus amples informations relatives aux primes de risque, veuillez vous
reporter à la section « Stratégie d’investissement » ci-
dessous.
La mention « V10 » insérée dans le nom du Compartiment fait référence à l’objectif d’investissement consistant à cibler un risque ou une volatilité total(e) de 10 % sur un
horizon de 3 à 5 ans. La Volatilité ou le risque peuvent être définis comme la variabilité du rendement annualisé du Compartiment sur une période de 3 à 5 ans. Une variabilité fréquente est synonyme de volatilité élevée.
Rien ne permet de garantir que le risque ou la volatilité réalisé(e) du Compartiment sera de 10 % sur cette période ou toute autre période.
Le Compartiment peut investir dans des titres de créance et apparentés d’entreprise ou d’État à taux fixe ou variable, en ce compris, des obligations, des obligations
émises par des agences, des titres adossés à des actifs (« ABS », Asset-backed securities), titres liés à un risque de crédit (« CLN », Credit Linked Notes), obligations
d’entreprise hybrides, euro-obligations, obligations
négociées en Bourse (« ETN », Exchange Traded Notes),
obligations à taux variable, obligations indexées, obligations indexées sur l’inflation, obligations uniquement à intérêts, obligations convertibles,
obligations municipales, obligations Reg S,
obligations 144A, obligations structurées, obligations à coupon zéro, instruments du marché monétaire (certificats de dépôts, billets de trésorerie, dépôts à terme, bons du Trésor) et les IFD associés (ci-après désignés « Titres de créance et apparentés »). Les IFD sont énumérés ci-dessous sous la rubrique « Utilisation
d’IFD ».
- Les obligations indexées sont des titres de créance pour lesquels le paiement de produits d’intérêts sur le principal est lié à un indice de prix spécifique, généralement l’indice des prix à la consommation. Ce type d’instrument protège ainsi les investisseurs des variations de l’indice sous-jacent. Les flux de trésorerie des obligations sont ajustés pour s’assurer que le détenteur de l’obligation reçoit un taux de rendement réel connu.
- Alors que les ETN sont des titres négociés en Bourse, les obligations structurées sont négociées de gré à gré avec une seule contrepartie (de manière bilatérale).

Le Compartiment peut investir jusqu’à 5 % de sa Valeur liquidative dans des ABS.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative en obligations Reg S et 144A.
Le Compartiment peut investir jusqu’à 5 % de sa Valeur liquidative dans des Obligations structurées.
Le Compartiment n’investira pas dans des CoCo.
Les ETN peuvent être utilisées pour fournir à l’investisseur une exposition spécifique à certains secteurs de marché, comme par exemple un sous-secteur du secteur de l’immobilier tel que l’immobilier aux États- Unis ou les actifs liés à des créances hypothécaires
américaines.
Pour plus de détails sur les Titres de créance et apparentés autres que les obligations indexées, veuillez vous reporter à la section du Prospectus intitulée
« Répertoire des instruments de créance ».
Le Compartiment peut investir à la fois dans des titres de qualité investment grade (c’est-à-dire BBB ou plus) et jusqu’à 30 % de sa Valeur liquidative dans des titres de qualité inférieure à investment grade (c’est-à-dire BB+ ou moins), tel que déterminé par Agence de notation reconnue équivalente, au moment de l’achat.
Le Compartiment peut également investir dans des sociétés d’investissement immobilier (« REIT », Real Estate Investment Trusts), des sociétés d’exploitation immobilière (« REOC », Real Estate Operating Company),
des actions privilégiées convertibles, des certificats représentatifs de titres américains (« ADR », American depositary receipts), des certificats représentatifs de titres internationaux (« GDR », global depositary receipts),
des droits de souscription d’actions et les IFD associés
(ci-après désignés « Actions et titres apparentés »). Les
IFD sont énumérés ci-dessous sous la rubrique
« Utilisation d’IFD ».
Le Compartiment peut investir jusqu’à 35 % de sa Valeur liquidative en matières premières par le biais d’une combinaison de titres cotés ou négociés sur des Marchés
éligibles tels que des Actions et titres apparentés, des
Titres de créance et apparentés et des IFD. Le Compartiment n’investira pas directement dans les matières premières. Les IFD sont énumérés ci-dessous sous la rubrique « Utilisation d’IFD ».
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative globale dans d’autres OPC à capital variable, y compris des fonds monétaires, des fonds négociés en
Bourse (« ETF », exchange traded funds) à capital variable et des ETF synthétiques. Tous les ETF investis par le Compartiment seront des OPCVM.
Le Compartiment peut détenir des niveaux élevés d’actifs liquides et quasi liquides dans certaines circonstances. Veuillez vous référer à la section « Gestion de la liquidité
et des garanties » pour obtenir des informations plus détaillées.
Le Compartiment vise à investir à l’échelle mondiale dans des Titres de créance et apparentés et des Actions et titres apparentés libellés en dollars américains ou dans
d’autres devises de sociétés ou d’émetteurs de marchés
développés et émergents sans industrie ou secteur de
prédilection particulier. Néanmoins, le Compartiment peut
parfois se concentrer sur une industrie ou des secteurs particuliers en fonction de l’opportunité d’investissement identifiée par le Gestionnaire de portefeuille.
Le Compartiment peut investir jusqu’à 40 % de sa Valeur liquidative dans des marchés émergents, dont jusqu’à
10 % en Chine, jusqu’à 10 % en Inde et jusqu’à 5 % dans
des actions russes cotées ou négociées à la Bourse de
Moscou. Le Compartiment construira son exposition à la Chine et l’Inde en investissant de manière indirecte dans les indices financiers pertinents.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative globale dans des valeurs mobilières qui ne
sont pas admises ou négociées sur un Marché éligible, conformément à la Réglementation OPCVM. À l’exception des investissements autorisés dans des organismes de
placement collectif (OPC) à capital variable, les
investissements du Compartiment seront cotés ou négociés sur les Marchés éligibles listés dans l’Annexe II du Prospectus.
Bien que sa devise de référence soit l’USD, le Compartiment peut investir dans des actifs non libellés
en USD. Ces actifs ne seront pas obligatoirement couverts en USD. Par ailleurs, le Compartiment peut prendre des positions de change actives en utilisant des contrats de change à terme ; il peut ouvrir par exemple
une position longue sur l’EUR et courte sur l’USD afin d’exprimer ainsi le point de vue du Gestionnaire de portefeuille sur les devises autres que l’USD. Par
conséquent, la performance du Compartiment peut être
fortement influencée par les fluctuations des taux de change, car les positions en devises détenues par le Compartiment peuvent différer de ses positions en titres et tous les actifs ne peuvent pas être couverts par rapport à la devise de référence.

##### Gestion de la liquidité et des garanties
Le Compartiment détiendra des actifs liquides et quasi liquides dans certaines circonstances, telles que pour satisfaire aux demandes de rachat, faciliter le paiement des frais, conserver des liquidités en attente de réinvestissement et fournir des liquidités et des garanties
pour les contrats d’IFD. Dans des circonstances
exceptionnelles, le Compartiment peut détenir
temporairement des niveaux élevés de liquidités et d’actifs quasi liquides (jusqu’à 100 % de sa Valeur liquidative), lorsque les conditions de marché requièrent l’adoption d’une stratégie d’investissement défensive (par exemple, un krach boursier ou une crise majeure).
Les actifs quasi-liquides peuvent comprendre des instruments du marché monétaire, tels que les bons du Trésor américain, certificats de dépôt, billets de trésorerie ou dépôts à terme, et des dépôts bancaires. Il est prévu que les émetteurs et/ou garants de tous ces
titres, instruments ou obligations auront une notation de crédit, au moment de l’achat, au moins égale à A1/P1 (ou son équivalent) publiée par une Agence de notation reconnue, ou seront jugés être d’une qualité équivalente par le Gestionnaire de portefeuille.

##### Indice de référence
Le FTSE 3 Month US T Bill Index (l’« Indice de référence monétaire »).
Le FTSE 3 Month US T Bill Index réplique la performance quotidienne des bons du Trésor américain à 3 mois.
Le Compartiment utilise l’Indice de référence monétaire comme élément de comparaison de sa performance sur
une base mobile de 3 années consécutives, avant déduction des frais. Le Compartiment vise à rester neutre
par rapport au marché. Cela signifie qu’il cherche à
équilibrer une position globale longue sur un marché
donné avec une position globale courte similaire de manière à ce que la compensation des deux positions au fil du temps résulte en une position nette proche de zéro. Partant de cette base, les liquidités sont considérées comme un actif adéquat à partir duquel la performance du Compartiment peut être mesurée.
Le Compartiment est géré activement, ce qui signifie que
le Gestionnaire de portefeuille a tout pouvoir pour sélectionner les investissements sur la base de l’objectif et de la politique d’investissement.

##### Stratégie d’investissement
Le Compartiment utilise une stratégie multi-actifs mondiale dynamique visant à capturer des primes de risque défensives, neutres et concrètes en investissant dans des actions, obligations, devises, matières premières et instruments exposés à la volatilité,
principalement par le biais d’IFD. Le terme « dynamique »
se réfère à la manière dont le Gestionnaire de
portefeuille allouera ses investissements entre les différentes classes d’actifs et les titres décrits plus en détail à la section « Politique d’investissement », et ajustera cette allocation en fonction de la stratégie d’investissement. Le Gestionnaire de portefeuille
estimera le rendement et le risque associés à chaque prime pour chaque classe d’actifs. Le Gestionnaire de portefeuille actualise ces estimations quotidiennement et
rééquilibre et ajuste ensuite le portefeuille régulièrement à partir de ces estimations actualisées. Le portefeuille composé de ces primes de risque est construit avec soin de manière à ce que le Compartiment puisse obtenir le rendement attribué à ces primes de risque tout en maintenant un ensemble de positions diversifiées permettant de réduire les risques baissiers et ayant une
faible corrélation avec les classes d’actifs traditionnelles
telles que les actions et obligations.
Par ailleurs, le Gestionnaire de portefeuille cherche à construire un portefeuille ayant un risque ou une volatilité cible total(e) de 10 % sur un horizon de 3
à 5 ans. Le Gestionnaire de portefeuille vise une volatilité de 10 % dans le cadre de son processus de construction du portefeuille. Ce processus implique une technique
d’optimisation du portefeuille qui cherche à équilibrer les
rendements et le risque attendus pour chaque prime de
manière à créer la combinaison optimale permettant de
maximiser le rendement ajusté du risque. Le Gestionnaire d’investissement crée cette combinaison optimale de manière à respecter une volatilité de portefeuille
prévisionnelle de 10 %.
Les primes de risque dites défensives comme la Stratégie tendance sur actions se comportent généralement mieux lorsque les marchés baissent. Les primes de risque dites neutres comme la Stratégie momentum sur actions ne sont pas liées aux conditions de marché. Les primes de risques dites concrètes comme la Stratégie valeur sur actions ont tendance à bien se comporter tant sur les marchés baissiers que haussiers.
Une prime de risque se définit comme le rendement obtenu par l’investisseur pour prendre le risque correspondant. Par exemple, la prime de risque la plus
courante est la prime de risque sur actions. Elle
correspond au rendement de l’action minorée du taux des liquidités ou du taux sans risque. La différence entre ces
deux rendements (par ex., celui des actions moins celui des liquidités) équivaut à la prime de risque sur actions. Les marchés financiers peuvent être considérés comme un ensemble de blocs ou de primes correspondant à
chacune des classes d’actifs. Le Compartiment utilise ces
blocs comme base pour créer un flux de rendements
diversifiés, faiblement corrélés à ceux des actifs traditionnels, transparents, liquides et rentables en termes de coûts.
Ces stratégies de primes de risque sont les suivantes : valeur, momentum, tendance, portage, qualité et volatilité.
- La stratégie valeur implique de sélectionner des titres qui s’échangent à un cours inférieur à leur valeur intrinsèque ou comptable.
- La stratégie momentum implique de sélectionner des titres dont le cours a progressé sur une période récente d’environ 50 jours.
- La stratégie tendance implique de sélectionner des titres dont le cours affiche une tendance de progression sur une longue période.
- La stratégie portage (ou carry) implique de sélectionner des titres ayant un rendement supérieurà celui de leurs homologues au sein de la même classe d’actifs.
- La stratégie qualité implique de sélectionner des titres ayant une qualité supérieure à celle de leurs homologues au sein de la même classe d’actifs.

La stratégie volatilité implique de prendre une position
soit longue soit courte sur la volatilité à travers les différentes classes d’actifs.
L’exposition à chacune des stratégies de primes peut être longue (par ex., longue sur la stratégie momentum en
actions) ou courte (par ex., courte sur la stratégie momentum en actions). Les différentes primes de risque peuvent être simultanément générées sur plusieurs
classes d’actifs telles que la stratégie momentum longue
en actions et la stratégie momentum longue en devises.
La stratégie volatilité en actions est encore un exemple : le Compartiment peut être soit long soit court sur ladite stratégie volatilité en actions. Par exemple, si un investisseur est long sur la stratégie volatilité en actions et que le niveau de volatilité augmente, ce dernier
obtiendra une plus-value. La prime de risque sur la volatilité en actions n’a absolument aucun rapport avec la volatilité cible totale du Compartiment. La première est
une prime de risque tandis que la seconde correspond à la dispersion des rendements du Compartiment. La
finalité des positions longues et courtes est d’augmenter
le rendement généré par la prime de risque tout en contrôlant l’exposition à la classe d’actifs sous-jacente. Afin de tirer profit de la volatilité du marché d’actions, le Gestionnaire de portefeuille peut prendre une position longue par le biais de l’acquisition d’une option d’achat sur un indice d’actions. Si la volatilité du marché d’actions entraîne une hausse de la valeur de l’indice d’actions, la valeur de l’option d’achat augmentera et aura un impact positif sur la valeur liquidative du
Compartiment. Toutefois, si la volatilité du marché d’actions entraîne une baisse de la valeur de l’indice d’actions, la valeur de l’option d’achat diminuera et aura un impact négatif sur la valeur liquidative du
Compartiment. Le Gestionnaire de portefeuille peut
acquérir ou vendre des options d’achat sur indices d’actions de manière à exprimer son opinion sur la volatilité du marché d’actions.
Le Gestionnaire de portefeuille peut recourir à des swaps
de variance pour construire une exposition à la volatilité du marché d’actions. Il peut également utiliser des swaps d’inflation pour gérer l’inflation à travers les taux d’inflation des différents pays.
Le Gestionnaire de portefeuille aura recours à des positions courtes synthétiques, des options et à la
technique de l’effet de levier pour gérer l’exposition de
marché globale et le profil de risque du Compartiment. Le
Gestionnaire de portefeuille prendra des positions courtes synthétiques de manière à générer la prime de manière efficace comme décrit ci-dessus. Le Gestionnaire de portefeuille ouvrira des positions courtes
synthétiques sur des sociétés, des émetteurs ou des marchés qu’il estime relativement fragiles par rapport à leurs homologues et qui lui permettront de réduire le
niveau de risque du Compartiment. Cependant, le Compartiment maintiendra une position longue nette sur les stratégies de prime décrites ci-dessus. Il pourra
également recourir à l’effet de levier à des fins de gestion
du risque, par exemple pour acquérir des positions
longues sur des actifs de couverture, tels que les obligations souveraines. Étant donné que ces actifs de couverture ne sont pas corrélés ou sont même négativement corrélés avec les actifs à risque, cette approche aura pour effet global de réduire le risque du Compartiment. De la même manière, le Compartiment peut acquérir une option de vente afin de réduire le risque et préserver le capital en cas de baisse de marché.
Le Compartiment n’aura pas recours à l’emprunt, mais utilisera plutôt des IFD afin d’obtenir cet effet de levier. La majorité des positions du Compartiment seront ouvertes par le biais d’IFD tels que les contrats à terme
standardisés sur indices et les contrats de change à
terme. Les indices financiers permettent au Compartiment d’acquérir une exposition à différents marchés. Par exemple, le Gestionnaire de portefeuille
peut acheter des contrats à terme standardisés sur un
indice financier comme le FTSE China 150 Index afin d’obtenir une exposition à la Chine. L’exposition à une combinaison d’indices financiers peut être utilisée pour capturer la prime de risque.

##### Règlement sur la publication d’informations en matière de finance durable
Du fait de l’objectif d’investissement du Compartiment, le Gestionnaire de portefeuille n’intègre pas les risques en matière de durabilité, lesquels sont individuellement
définis comme un événement ou une condition ESG qui, en cas de survenance, pourrait avoir un impact négatif
réel ou potentiel important sur la valeur de l’investissement concerné (un « Événement ESG ») dans ses décisions d’investissement. Toutefois, en raison de la nature diversifiée du Compartiment, le Gestionnaire de
portefeuille a déterminé que le risque en matière de durabilité était minimal.
Le Gestionnaire a prudemment évalué les exigences du régime des principales incidences négatives prévu à
l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire
soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les
incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs
de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du
régime en matière de reporting. Le Gestionnaire continue d’analyser les données disponibles qui seraient nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

##### Le Règlement sur la taxonomie de l’UE
Les investissements sous-jacents de ce Compartiment ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en Bourse ou de gré à gré suivants, à des fins
| Contrats à terme standar- disés | Contrats à terme standardisés sur devises Contrats à terme standardisés sur taux d’intérêt (y compris à court terme) Contrats à terme standardisés sur Obligations d’État Contrats à terme standardisés sur obligations Contrats à terme standardisés sur indices y compris les contrats à terme standardisés sur indices boursiers et les contrats à terme standardisés sur indices de volatilité Contrats à terme standardisés sur le marché monétaire Contrats à terme standardisés sur actions |
| --- | --- |
| Options | Options sur actions (valeur individuelle, indice, secteur, panier personnalisé) Options sur indices Options sur contrats à terme standardisés de taux d’intérêt Options sur obligations Options sur contrats à terme standardisés d’obligations Options sur contrats à terme standardisés d’obligations d’État Options sur taux d’intérêt Options sur contrats à terme standardisés de taux d’intérêt Options sur fonds négociés en Bourse (ETF) Options sur contrats à terme standardisés d’actions Options sur contrats à terme standardisés de devises Options sur indices de volatilité Options sur swaps de défaut de crédit Options sur dividendes Options sur contrats à terme standardisés de dividendes Options sur devises (y compris les options à barrière) |

d’investissement :
| Swaps | Swaps de défaut de crédit Indice/panier de swaps de défaut de crédit Swaps de taux d’intérêt Swaps de devises Swaps de devises croisées Swaps de matières premières Swaps de dividendes Swaps sur rendement d’actions (y compris sur valeur individuelle, indice, secteur) Swaps d’inflation Swaps de variance Swaps d’indices Swaps de rendement total (TRS) (sur valeur individuelle, crédit, indice et panier personnalisé) Swaps sectoriels Swaps de volatilité |
| --- | --- |
| Contrats à terme | Contrats de change à terme |
| Titres avec IFD intégrés/effet de levier | Obligations convertibles Titres adossés à des actifs (ABS) Titres liés à un risque de crédit (CLN) Obligations structurées ETF synthétiques Obligations négociées en Bourse (ETN) Droits de souscription d’actions Actions privilégiées convertibles |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

##### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de gestion efficace de portefeuille (GEP). Le Compartiment utilise les indices financiers suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices de swaps de défaut de crédit (« CDS », Credit default swap) utilisés pour offrir une exposition à des marchés de titres à revenu fixe mondiaux d’une manière plus rentable qu’avec l’achat de titres physiques. | CDX North American Investment Grade CDX North American Investment Grade High Volatility CDX North American High Yield CDX North American High Yield High Beta CDX Emerging Markets CDX Emerging Markets Diversified |

| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices d’actions utilisés pour offrir une exposition aux marchés de titres régionaux et mondiaux de manière plus rentable ou plus efficace que par l’achat de titres physiques. | AEX Index ASX SPI Index ASX 200 Index Bovespa Index CAC- 40 Index DAX 30 Index Hang Seng Index HSCEI Index IBEX 35 Index FTSE 100 Index FTSE China 150 Index FTSE MIB Index FTSE Taiwan FTSE/JSE Top 40 Index Kospi 200 Index MSCI Singapore Index Nasdaq 100 EMINI Index Russell 2000 Index S&P 500 Index S&P CNX Nifty Index S&P Midcap 400 Index S&P/TSX 60 Index S&P Toronto 60 Index S&P Emerging Markets Index Stockholm OMX Index Swiss Markit Index TOPIX |
| Indices de volatilité permettant d’exprimer le point de vue du Gestionnaire de portefeuille sur la volatilité d’un marché ou d’une devise spécifique de manière plus rentable ou plus efficace que par l’achat de titres physiques. | CBOE Volatility Index |

Les pondérations des composantes des indices CDS sont déterminées à la discrétion d’IHS Markit et ne seront généralement pas rééquilibrées régulièrement. Les
indices financiers restants seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas directement affecté par les rééquilibrages, les coûts associés ou la pondération des actions de
l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

##### Positions longues et courtes
Le Compartiment peut construire des expositions synthétiques longues et synthétiques courtes dans
chacune des classes d’actifs référencées dans la Politique d’investissement pour atteindre son objectif d’investissement. L’exposition longue brute totale par le biais d’IFD n’excédera pas 2 000 % de la Valeur liquidative du Compartiment et l’exposition courte brute totale n’excédera pas 2 000 % de la Valeur liquidative du
Compartiment.
Exposition globale et effet de levier 
Méthodologie de calcul de l’exposition globale : VaR absolue
Limite de VaR absolue : 20 % de la Valeur liquidative du Compartiment (sur la base d’une période de détention de 20 Jours ouvrables)
L’effet de levier brut devrait varier entre : 0 – 2000 % de la Valeur liquidative. L’effet de levier brut peut toutefois dépasser ce niveau cible à certains moments.
Pour plus d’informations sur l’approche de la VaR absolue et l’Effet de levier brut, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés, options, swaps et contrats à terme. Le Compartiment
peut aussi utiliser des accords de prêt de titres et des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Opérations de financement sur titres
Le Compartiment peut conclure des Swaps de rendement total (« TRS »), comme décrit sous la rubrique
« Utilisation d’IFD », et peut procéder à des OFT, c’est à
dire des accords de prêt de titres et des accords de
mise/prise en pension, comme décrit sous la rubrique
« Gestion efficace de portefeuille » dans le Prospectus.
Les expositions maximales du Compartiment aux TRS et aux OFT correspondent respectivement à 100 % et 100 %
de sa Valeur liquidative. Il n’est toutefois pas prévu que
ces expositions respectives aux TRS et aux OFT excèdent 30 % et 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet de TRS ou d’OFT seront les actifs dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les TRS et les OFT, notamment les garanties acceptables et la procédure
relative à la contrepartie, sont fournis aux rubriques du Prospectus intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties », « Annexe III – Recours à des accords de mise/prise en pension et accords de prêt de titres »,
« Gestion efficace de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
Les Actions des catégories d’actions non lancées disponibles seront proposées durant une Période d’offre initiale, débutant à 9 h le 4 mai 2022 et s’achevant à 17 h le 3 novembre 2022, à un prix d’offre initial par Action de
1 USD, 1 EUR, 1 GBP, 1 CHF, 10 DKK, 10 SEK, 10 NOK,
1 CAD ou 1 AUD, selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente de la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés le 31 décembre de chaque année.
Concernant les détenteurs d’Actions de distribution, les
dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis dans la rubrique intitulée « Gestion et
administration de la Société – Commissions et frais » du Prospectus. La commission annuelle de gestion perçue
par le Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.
Les commissions et frais liés à la constitution et à l’organisation du Compartiment, y compris les honoraires des conseillers professionnels du Compartiment seront
pris en charge par le Compartiment. Ces commissions et frais sont estimés à un maximum de 30 000 € et seront pris en charge par le Compartiment et amortis sur une
période de 3 ans à partir de son lancement.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.

## BNY Mellon Sustainable Global Emerging Markets Fund

### SUPPLÉMENT 62, DATÉ DU 31 MAI 2022, AU PROSPECTUS DATÉ DU 3 MAI 2022 DE BNY MELLON GLOBAL FUNDS, PLC
- Le présent Supplément fait partie intégrante du Prospectus daté du 3 mai 2022 de la Société, et doit être lu conjointement avec ce dernier.
- Le Compartiment peut recourir à des IFD à des fins d’investissement, de couverture et de gestion efficace de portefeuille. Concernant l’effet de levier produit par les IFD, veuillez vous reporter à la section « Exposition globale et effet de levier » ci- après. De plus amples informations concernant les risques associés à l’utilisation d’IFD figurent à la section du Prospectus intitulée « Facteurs de risque – Risques liés aux valeurs mobilières, IFD et autres techniques ».
- La Valeur liquidative du Compartiment peut faire l’objet d’une volatilité élevée en raison de sa politique d’investissement.
- Un investissement dans le Compartiment ne devrait pas constituer une proportion trop importante d’un portefeuille et pourrait ne pas convenir à tous les investisseurs.


#### Gestionnaire de portefeuille
Newton Investment Management Limited

#### Gestionnaire de portefeuille délégué
Le Gestionnaire de portefeuille peut déléguer certaines ou la totalité de ses fonctions de gestion
d’investissement eu égard au présent Compartiment à
Newton Investment Management North America LLC (le
« Gestionnaire de portefeuille délégué »). Les détails de la Convention de délégation de gestion de portefeuille conclue entre le Gestionnaire de portefeuille et le Gestionnaire de portefeuille délégué sont énoncés dans la rubrique « Gestionnaires de portefeuille délégués » du Prospectus.

#### Devise de référence
Dollar américain

#### Jour ouvrable
Chaque jour d’ouverture des banques à Dublin.

#### Jour d’évaluation
Chaque Jour ouvrable ou tous autres jours que les Administrateurs pourront déterminer, étant entendu que
tous les Actionnaires en seront préalablement avisés et qu’il devra y avoir au moins un Jour d’évaluation par semaine.

#### Heure d’évaluation
12 h (heure de Dublin) chaque Jour d’évaluation, ou toute autre heure qui pourra être déterminée occasionnellement par les Administrateurs, à condition
que cette heure soit toujours postérieure à l’Heure limite de négociation et soit notifiée à l’avance à tous les Actionnaires.

#### Heure limite de négociation
L’heure limite de négociation pour la réception des demandes de souscription, de rachat ou d’échange est fixée à 12 h (heure de Dublin) lors d’un Jour d’évaluation.

#### Profil d’un investisseur type
L’investisseur type effectue ses placements à moyen ou long terme.

#### Catégories d’actions
Les catégories d’actions du Compartiment qui sont disponibles pour les investisseurs figurent dans les tableaux ci-après et se différencient par leur devise de
référence, leur montant minimum de souscription initiale et le niveau des commissions et frais prélevés. Les
catégories d’investisseurs auxquels chaque catégorie d’actions est destinée sont décrites à la section du Prospectus intitulée « La Société – Structure ».
| Actions « A » et Actions « H (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD A (Cap.) | USD | 5 000 | 5 % | 2,00 % | 0 % |
| USD A (Dist.) | USD | 5 000 | 5 % | 2,00 % | 0 % |
| EUR A (Cap.) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| Euro A (Dist.) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| CHF A (Cap.) | CHF | 5 000 | 5 % | 2,00 % | 0 % |
| CHF A (Dist.) | CHF | 5 000 | 5 % | 2,00 % | 0 % |
| Euro H (Cap.) (couverte) | EUR | 5 000 | 5 % | 2,00 % | 0 % |
| Euro H (Dist.) (couverte) | EUR | 5 000 | 5 % | 2,00 % | 0 % |

| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| --- | --- | --- | --- | --- | --- |
| CHF H (Cap.) (couverte) | CHF | 5 000 | 5 % | 2,00 % | 0 % |
| CHF H (Dist.) (couverte) | CHF | 5 000 | 5 % | 2,00 % | 0 % |
| DKK H (Cap.) (couverte) | DKK | 50 000 | 5 % | 2,00 % | 0 % |
| SEK H (Cap.) (couverte) | SEK | 50 000 | 5 % | 2,00 % | 0 % |
| NOK H (Cap.) (couverte) | NOK | 50 000 | 5 % | 2,00 % | 0 % |

| Actions « B » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD B (Cap.) | USD | 10 000 | 5 % | 1,50 % | 0 % |
| USD B (Dist.) | USD | 10 000 | 5 % | 1,50 % | 0 % |

| Actions « C » et Actions « I (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD C (Cap.) | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| USD C (Dist.) | USD | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro C (Cap.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro C (Dist.) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (Cap.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |
| Euro I (Dist.) (couverte) | EUR | 5 000 000 | 5 % | 1,00 % | 0 % |

| Actions « G » et Actions « G (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD G (Cap.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD G (Dist.) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Cap.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Cap.) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Dist.) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| CHF G (Cap.) | CHF | 5 000 | 5 % | 1,00 % | 0 % |
| CHF G (Dist.) | CHF | 5 000 | 5 % | 1,00 % | 0 % |
| USD G (Cap.) (couverte) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| USD G (Dist.) (couverte) | USD | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Cap.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Euro G (Dist.) (couverte) | EUR | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Cap.) (couverte) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| Sterling G (Dist.) (couverte) | GBP | 5 000 | 5 % | 1,00 % | 0 % |
| CHF G (Cap.) (couverte) | CHF | 5 000 | 5 % | 1,00 % | 0 % |
| CHF G (Dist.) (couverte) | CHF | 5 000 | 5 % | 1,00 % | 0 % |

| Actions « E » et Actions « E (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD E (Cap.) | USD | Comme convenu | 5 % | 0,45 % | 0 % |
| USD E (Dist.) | USD | Comme convenu | 5 % | 0,45 % | 0 % |
| Euro E (Cap.) | EUR | Comme convenu | 5 % | 0,45 % | 0 % |
| Euro E (Dist.) | EUR | Comme convenu | 5 % | 0,45 % | 0 % |
| Sterling E (Cap.) | GBP | Comme convenu | 5 % | 0,45 % | 0 % |
| Sterling E (Dist.) | GBP | Comme convenu | 5 % | 0,45 % | 0 % |
| CHF E (Cap.) | CHF | Comme convenu | 5 % | 0,45 % | 0 % |
| CHF E (Dist.) | CHF | Comme convenu | 5 % | 0,45 % | 0 % |
| Euro E (Cap.) (couverte) | EUR | Comme convenu | 5 % | 0,45 % | 0 % |
| Euro E (Dist.) (couverte) | EUR | Comme convenu | 5 % | 0,45 % | 0 % |
| CHF E (Cap.) (couverte) | CHF | Comme convenu | 5 % | 0,45 % | 0 % |
| CHF E (Dist.) (couverte) | CHF | Comme convenu | 5 % | 0,45 % | 0 % |
| Sterling E (Cap.) (couverte) | GBP | Comme convenu | 5 % | 0,45 % | 0 % |
| Sterling E (Dist.) (couverte) | GBP | Comme convenu | 5 % | 0,45 % | 0 % |

| Actions « W » et Actions « W (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD W (Cap.) | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| USD W (Dist.) | USD | 15 000 000 | 5 % | 0,75 % | 0 % |
| EUR W (Cap.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| EUR W (Dist.) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Cap.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Dist.) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Cap.) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Dist.) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| Euro W (Cap.) (couverte) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| Euro W (Dist.) (couverte) | EUR | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Cap.) (couverte) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| CHF W (Dist.) (couverte) | CHF | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Cap.) (couverte) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| Sterling W (Dist.) (couverte) | GBP | 15 000 000 | 5 % | 0,75 % | 0 % |
| SGD W (Cap.) (couverte) | SGD | 15 000 000 | 5 % | 0,75 % | 0 % |

| Actions « X » et Actions « X (couvertes) » |
| --- |
| Catégorie | Devise | Investis-sement initial minimum dans la devise de la catégorie | Commis-sion de souscription initiale maximum (jusqu’à) | Commis-sion annuelle de gestion | Commis-sion de rachat |
| USD X (Cap.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| USD X (Dist.) | USD | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Cap.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |
| Euro X (Dist.) (couverte) | EUR | Aucun(e) | 0 % | 0 % | 0 % |


#### Objectif et politique d’investissement et autres informations

##### Objectif d’investissement
Le Compartiment vise à réaliser une croissance du capital sur le long terme et cibler l’investissement durable.
Plus précisément, le Compartiment vise à soutenir des objectifs sociaux et environnementaux en investissant dans les titres de sociétés de pays émergents, qui
présentent des qualités d’investissement intéressantes et
qui contribuent au développement durable.

##### Politique d’investissement
Le Compartiment investira au moins 75 % de sa Valeur liquidative dans des sociétés cotées, négociées, situées ou qui réalisent au moins la moitié de leurs revenus dans des pays émergents, notamment la Russie, la Chine et
l’Inde.
Le Compartiment investira au moins 75 % de sa Valeur liquidative dans des actions et titres apparentés de sociétés situées dans des pays émergents qui visent des objectifs sociaux ou environnementaux en soutenant le développement durable par le biais de leur contribution à
un ou plusieurs des Objectifs de développement durable des Nations Unies (les « ODD »). Comme exemple d’ODD, nous retiendrons l’action climatique, l’énergie propre et abordable, les villes et les communautés durables, le maintien d’une bonne santé et d’un certain bien-être, une éducation de qualité et l’absence de faim dans le monde.
Tous les investissements des Compartiments, autres que ceux créés à des fins spécifiques comme des fins de couverture ou de liquidité répondront à la définition
d’Investissements durables SFDR.
Les Investissements durables SFDR désignent les investissements au sein de sociétés qui contribuent à un
objectif environnemental ou social, sous réserve de ne pas causer de préjudice important à l’un quelconque de ces objectifs et que ces sociétés suivent de bonnes
pratiques en matière de gouvernance.
Les Investissements doivent répondre aux critères environnementaux, sociaux et de gouvernance (« ESG ») et de durabilité rigoureux du Gestionnaire de portefeuille. En plus de viser des objectifs sociaux ou environnementaux en contribuant à un ou plusieurs des
ODD des Nations Unies, le Gestionnaire de portefeuille s’efforcera également de :
identifier et éviter d’investir dans des sociétés qui participent à des domaines d’activité spécifiques que le Gestionnaire de portefeuille juge nocifs du point de vue
environnemental et/ou social. Toutes les sociétés dans lesquelles des investissements sont réalisés suivent les bonnes pratiques de gouvernance définies dans les principes du Pacte mondial des Nations Unies. Les sociétés en violation des dispositions des principes du Pacte mondial des Nations Unies, incluant notamment
les principes relatifs aux droits humains, au travail, à l’environnement et à la lutte contre la corruption sont exclues ; et
identifier et investir dans des sociétés qui cherchent de manière proactive à correctement gérer les facteurs sociaux et environnementaux, lesquels devraient à leur tour générer des rendements financiers de long terme. Cette mesure inclura également les sociétés contribuant au développement de solutions qui aideront à résoudre
les problèmes environnementaux ou sociaux, notamment
en utilisant les ressources naturelles de manière plus efficace ou réduite ou en facilitant l’accès aux soins de santé.
Les Sociétés sont soumises aux éléments contraignants précités dans le cadre des critères ESG et de durabilité que le Gestionnaire de portefeuille applique pour
atteindre l’objectif d’investissement du Compartiment
concerné.
Les actions et titres apparentés dans lesquels le Compartiment est susceptible d’investir comprennent les actions ordinaires et les actions privilégiées, les
certificats représentatifs de titres américains, les certificats représentatifs de titres internationaux, les
titres convertibles en, ou échangeables, contre ce type d’actions (tels que les obligations participatives [«
P-Notes »], y compris les options à faible prix d’exercice
(« LEPO ») et les bons de souscription à faible prix d’exercice (« LEPW »), les sociétés d’investissement immobilier cotées (« REIT »), les sociétés d’exploitation immobilière (Real Estate Operating Companies, « REOC ») et d’autres fonds cotés en Bourse à capital fixe, y
compris les fiducies de placement cotées, les bons de
souscription (dans la limite de 10 % de sa Valeur liquidative), les droits de souscription d’actions et les IFD y afférents (tels qu’énumérés dans la section « Utilisation d’IFD » ci-dessous), ci-après les « Actions et titres apparentés ».
Le Compartiment peut respectivement investir
jusqu’à 10 % de sa Valeur liquidative dans des REIT ou des REOC cotés. Les REIT et les REOC susceptibles d’être investies par le Compartiment pourraient contribuer à
des objectifs sociaux en finançant des logements sociaux, des hôpitaux ou des infrastructures essentielles.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des organismes de placement collectif
(« OPC ») à capital variable, tels que des fonds négociés en Bourse (« ETF ») basés sur des indices d’actions et des fonds monétaires. Le Compartiment sélectionnera un
OPC dans la mesure où celui-ci serait réputé l’aider à atteindre son objectif d’investissement (et constituerait des Investissements durables SFDR) ou bien parce que le
recours à ce véhicule à des fins de gestion de liquidité ou de couverture serait réputé approprié. Les OPC peuvent inclure un ou plusieurs autres Compartiments de la
Société ou d’autres fonds conseillés par le Gestionnaire
de portefeuille. Tout investissement dans des ETF à
capital fixe constitué de valeurs mobilières sera effectué conformément aux critères et aux limites
d’investissement applicables aux valeurs mobilières, comme exposé au chapitre « La Société – Restrictions en matière d’investissement et d’emprunt » du Prospectus.
Le Compartiment peut détenir des liquidités et des actifs quasi liquides dans certaines circonstances, y compris lorsque le Gestionnaire de portefeuille considère que les marchés sont surévalués, ou que les conditions de
marché requièrent l’adoption d’une stratégie d’investissement défensive, ou comme exposé ci-dessous dans la section « Gestion de la liquidité et des
garanties ».
À l’exception des investissements autorisés dans des valeurs mobilières non cotées et dans des instruments
du marché monétaire approuvés, les investissements du Compartiment doivent être cotés ou négociés sur des Marchés éligibles. Une liste des Marchés éligibles est
exposée à l’Annexe II du Prospectus.
Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des titres russes cotés ou négociés à la Bourse de Moscou.
Les méthodes employées pour acquérir une exposition à la Chine incluent possiblement l’achat d’actions chinoises de catégorie H cotées ou négociées à la Bourse de Hongkong, d’actions chinoises de catégorie B cotées ou négociées à la Bourse de Shanghai ou de Shenzhen ou
d’actions chinoises de catégorie A par le biais du Stock Connect. Le Compartiment peut investir jusqu’à 10 % de sa Valeur liquidative dans des actions chinoises de classe
A par le biais du Stock Connect. Le programme Stock Connect est présenté plus en détail dans l’Annexe V du Prospectus.
Bien que sa devise de référence soit l’USD, le Compartiment peut investir dans des actifs non libellés
en USD. Ces actifs ne seront pas obligatoirement couverts en USD. Le Compartiment peut en outre initier des positions de change actives sur des devises autres
que l’USD pour exprimer le point de vue que le
Gestionnaire de portefeuille porte sur les devises, et
pouvoir ainsi augmenter sa croissance en capital. Des IFD tels que des contrats de change à terme, des contrats à terme standardisés sur devises ou des options sur contrats à terme standardisés de devises peuvent être utilisés à ces fins. Par conséquent, bien que sa stratégie
d’investissement ne repose pas essentiellement sur la
gestion active de positions de change, la performance du
Compartiment peut être fortement influencée par les fluctuations des taux de change, car les positions en devises détenues en portefeuille peuvent différer de ses positions en titres.

##### Gestion de la liquidité et des garanties
Le Compartiment détiendra des actifs liquides et quasi liquides dans certaines circonstances, telles que pour satisfaire aux demandes de rachat, faciliter le paiement des frais, conserver des liquidités en attente de réinvestissement et fournir des liquidités et des garanties
pour les contrats d’IFD.
Les actifs quasi-liquides peuvent comprendre des instruments du marché monétaire (tels que les bons du Trésor américain, certificats de dépôt, billets de trésorerie et dépôts à terme) et des dépôts bancaires. Il est prévu que les émetteurs et/ou garants de tous ces
titres et instruments auront une notation de crédit, au moment de l’achat, au moins égale à A1/P1 (ou son équivalent) publiée par une Agence de notation reconnue, ou seront jugés être d’une qualité équivalente par le Gestionnaire de portefeuille.

##### Indice de référence
L’indice MSCI Emerging Markets NR Index (l’« Indice de référence »).
L’Indice de référence est un indice pondéré par capitalisation boursière ajustée du flottant conçu pour
mesurer la performance des sociétés à grande et moyenne capitalisation sur les marchés émergents
mondiaux. L’Indice de référence couvre
approximativement 85 % de la capitalisation boursière ajustée du flottant dans chaque pays, c’est-à-dire à ce jour : l’Argentine, le Brésil, le Chili, la Chine, la Colombie, la République tchèque, l’Égypte, la Grèce, la Hongrie, l’Inde, l’Indonésie, la Corée, le Koweït, la Malaisie, le
Mexique, le Pakistan, le Pérou, les Philippines, la
Pologne, le Qatar, la Russie, l’Arabie saoudite, l’Afrique du Sud, Taïwan, la Thaïlande, la Turquie et les Émirats arabes unis (à partir de septembre 2021).
De plus amples informations sur l’Indice de référence sont disponibles sur https://www.msci.com/our-solutions/ indexes/emerging-markets.
Le Compartiment mesurera sa performance par rapport à l’Indice de référence.
Le Compartiment est géré activement, ce qui signifie que le Gestionnaire de portefeuille a tout pouvoir pour investir
en dehors des composantes de l’Indice de référence sur la base de l’objectif et de la politique d’investissement. Bien que les avoirs du Compartiment puissent inclure des composantes de l’Indice de référence, la sélection des
placements et leurs pondérations dans le portefeuille ne sont pas influencées par celles de l’Indice de référence. La stratégie d’investissement ne restreint pas la mesure dans laquelle le Gestionnaire de portefeuille peut s’écarter de l’Indice de référence.
L’Indice de référence de ce Compartiment est un indice de marché général qui ne prend pas en compte les facteurs ESG. L’Indice de référence n’est pas utilisé pour mesurer si les investissements sont des Investissements
durables SFDR ou la réussite du Compartiment en matière d’objectifs environnementaux et sociaux. Au lieu de cela, le Gestionnaire de portefeuille cherchera à
évaluer dans quelle mesure les sociétés investies par le Compartiment contribuent aux ODD afin de vérifier si les objectifs environnementaux et sociaux du Compartiment ont été atteints.

##### Stratégie d’investissement
Le processus d’investissement suivi au niveau de l’entreprise par le Gestionnaire de portefeuille repose à la fois sur les thèmes d’investissement, l’analyse fondamentale et la valorisation de titres. Les thèmes
visent à identifier les changements structurels majeurs au niveau international. L’étude des changements structurels englobe l’observation de multiples développements notamment au niveau environnemental,
technologique et démographique permettant ainsi au Gestionnaire de portefeuille de replacer son analyse des
investissements et sa prise de décision dans leur contexte.et d’identifier des opportunités éventuelles et les risques potentiels tant pour les classes d’actifs que pour les titres. L’analyse fondamentale et la prise en considération des valorisations des titres par le
Gestionnaire de portefeuille permettent ensuite de déterminer les domaines d’investissements potentiels pour le Compartiment.
Les valorisations des titres incluent une analyse détaillée basée sur un large éventail d’indicateurs financiers et de recherches, tenant compte des risques ESG, des opportunités et des enjeux. Lorsqu’il investit dans des titres, le Gestionnaire de portefeuille prend en compte
les effets de ces investissements sur l’ensemble du Compartiment, comme le niveau d’exposition à une classe d’actifs, l’encours de chaque position de titre et les caractéristiques du risque d’investissement des titres eux-mêmes. Il n’y a aucune restriction prévue en termes
de taille (capitalisation boursière) pour les sociétés susceptibles d’être investies par le Compartiment. En outre, ce dernier est sensiblement plus concentré que
l’Indice de référence, car il est exposé à une quantité nettement inférieure de sociétés. L’approche du Gestionnaire de portefeuille permet d’identifier les
actions de sociétés offrant une valorisation intéressante avec de bonnes perspectives et de solides fondamentaux. Le Gestionnaire de portefeuille recherche en particulier un bilan équilibré, un rendement du capital durable et
des équipes de direction mettant l’accent sur les intérêts
des actionnaires.
Lorsque le Gestionnaire de portefeuille détermine si une société répond aux critères ESG et de durabilité qu’il a établis, et constitue un Investissement durable SFDR (y
compris si elle applique des pratiques de gouvernance satisfaisantes), il veille à ce que cette dernière : (i) applique des pratiques commerciales durables sur le
plan économique (par exemple, la durabilité et la stabilité de sa stratégie, de ses opérations et de son
financement) ; (ii) prend des mesures appropriées pour gérer les conséquences ou incidences significatives de ses politiques et opérations en lien avec les questions ESG (par ex., son empreinte environnementale, ses standards en matière de travail, la structure de son
conseil d’administration) ; et (iii) contribue, dans le cadre
de ses activités en cours, ou planifie sérieusement de
contribuer sur le long terme (le cas échéant) à un ou
plusieurs des Objectifs de développement durable des Nations Unies d’une façon démontrable.
Ces sociétés sont susceptibles d’inclure celles dont les activités commerciales sont identifiées comme transitionnelles dans le sens où elles ont un impact
positif sur l’environnement ou la société. Une société
peut se trouver impliquée dans des activités nocives du
point de vue environnemental ou social lorsque ses activités ou opérations, généralement en raison d’un ensemble d’activités commerciales exercées de longue
date, peuvent avoir enregistré de mauvais résultats environnementaux ou sociaux par le passé, bien qu’elle effectue désormais de nouveaux investissements et s’adapte positivement aux nouvelles exigences. Par
exemple, il peut s’agir d’une société productrice d’électricité qui construit des installations utilisant des
ressources énergétiques renouvelables aux fins de
soutenir une économie à faible teneur en carbone et qui s’est engagée à démanteler ses centrales électriques à charbon. Pour lever toute ambiguïté, il convient de noter
que ces investissements seront des Investissements durables SFDR au moment de l’achat.
De la même manière, dans certains cas, le Compartiment peut investir dans une entreprise au regard de laquelle le Gestionnaire de portefeuille détermine les informations et données ESG prévalentes provenant d'un fournisseur de notations ESG externe qui ne reflètent pas complètement
les initiatives positives en faveur de l’environnement ou
de la société lancées par ladite entreprise.
En outre, au moins 90 % de la valeur liquidative du Compartiment (nette de toute exposition du Compartiment aux actifs liquides et quasi liquides, fonds du marché monétaire et IFD sur devises [les « Actifs
non ESG »]) doit être constituée d’actifs répondant aux
critères ESG et de durabilité du Gestionnaire de portefeuille au moment de l’achat et sur une base continue. Pour lever toute ambiguïté, il convient de noter
que les Actifs non ESG ne sont pas tenus de remplir ces
critères. Aucun investissement ne sera effectué dans le titre d’une société réputée avoir des problèmes environnementaux, sociaux ou de gouvernance importants
et insolubles. Afin de déterminer si une société répond à ses critères ESG et de durabilité, le Gestionnaire de
portefeuille utilise une combinaison de données externes et internes, de recherches et de notations à la fois quantitatives et qualitatives.
Le Gestionnaire de portefeuille dépend des informations et des données de tiers (qui peuvent inclure des informations fournies par des services de recherche, des
rapports, des résultats de filtrages, notations ou d’analyses tels que produits par les fournisseurs d’indices et les consultants). Ces informations ou données peuvent s’avérer incomplètes, inexactes ou incohérentes.
Les investissements du Compartiment doivent continuer à répondre aux critères ESG et de durabilité du Gestionnaire de portefeuille de manière constante après leur acquisition initiale, et ce dernier évaluera le niveau de risque en matière de durabilité auquel une société
peut être soumise de la même manière qu’avant l’acquisition initiale.
Le Compartiment investira principalement dans des Actions et titres apparentés, mais il peut également investir dans des actifs liquides et quasi liquides à des fins de couverture ou de liquidité, si le Gestionnaire de
portefeuille le juge approprié. Bien que le Compartiment ait la capacité d’utiliser des IFD, ce n’est pas sur ces instruments que repose sa stratégie d’investissement. L’utilisation d’IFD sera probablement occasionnelle si le Gestionnaire de portefeuille estime que ces instruments constituent un moyen plus optimal d’atteindre l’objectif d’investissement du Compartiment que les investissements directs. Le Gestionnaire de portefeuille
ne sera autorisé à recourir aux IFD à des fins d’investissement que dans le cas où ceux-ci seraient réputés lui permettre d’atteindre les objectifs environnementaux et sociaux du Compartiment.

#### Règlement sur la publication d’informations en matière de finance durable
Le Compartiment intègre le risque en matière de durabilité dans son processus de décision
d’investissement et poursuit un objectif d’investissement durable aux fins de l’Article 9 du SFDR.
La prise en compte du risque en matière de durabilité constitue une partie importante du processus d’étude préalable mis en œuvre par le Gestionnaire de portefeuille.
Lorsque le Gestionnaire de portefeuille évalue le risque
en matière de durabilité associé aux investissements sous-jacents, il évalue le risque qu’un événement ou une condition ESG (« Événement ESG ») ait une incidence
négative importante sur la valeur de ces investissements sous-jacents.
Le Gestionnaire de portefeuille a accès à diverses
catégories de données ESG fournies par des fournisseurs tiers, qui permettent d’identifier les problèmes ESG potentiels auxquels un émetteur peut être confronté.
Cela inclut, entre autres, l’exposition à des activités
pouvant être considérées comme nocives pour l’environnement ou la société. Ces données, ainsi que celles obtenues par le Gestionnaire de portefeuille dans le cadre de sa propre recherche sur l’investissement responsable, constituent une part importante de la prise en compte et de l’évaluation du niveau de risque en matière de durabilité auquel un investissement peut être
soumis.
Cette évaluation est intégrée au processus de recherche
au niveau des titres, qui repose sur une analyse fondamentale des opportunités d’investissement individuelles à travers un certain nombre de facteurs
différents, notamment :
- les caractéristiques financières ou économiques fondamentales ;
- l’évaluation ;
- le profil risque/rendement ; et
- les caractéristiques ESG de l’émetteur, y compris la compréhension de la manière dont cesconsidérations peuvent avoir un impact sur les rendements économiques.

Le Gestionnaire de portefeuille tiendra compte des informations recueillies à partir de l’analyse fondamentale dans sa décision d’acquérir une participation dans une société émettrice ou de conserver
une position donnée.
Si le risque en matière de durabilité associé à un investissement particulier augmente au-delà d’un niveau jugé acceptable par le Gestionnaire de portefeuille, en prenant en compte l’objectif et la stratégie d’investissement du Compartiment, le Gestionnaire de
portefeuille envisagera de vendre ou de réduire l’exposition du Compartiment à l’investissement concerné, en tenant compte au mieux des intérêts des
Actionnaires du Compartiment.
Comme expliqué ci-dessus, l’évaluation et la gestion des risques de durabilité constituent une partie importante du processus d’étude préalable du Gestionnaire de portefeuille. Toutefois, il est toujours possible qu’un
Événement ESG ait une incidence négative importante sur la valeur d’un Compartiment.
Le Gestionnaire a prudemment évalué les exigences du régime des principales incidences négatives prévu à
l’Article°4 du SFDR (le « régime PAI »). Le Gestionnaire
soutient la politique poursuivie en matière de régime PAI en vue d’améliorer la transparence à l’égard des investisseurs et du marché ainsi que la façon dont les
acteurs du marché intègrent la réflexion sur les incidences négatives de leurs décisions d’investissement sur les facteurs de durabilité. Toutefois, à l’heure actuelle, le Gestionnaire ne considère pas les incidences négatives des décisions d’investissement sur les facteurs
de durabilité comme conformes au régime PAI pour le Compartiment en raison d’inquiétudes à propos du manque de données facilement accessibles pour se
conformer aux nombreuses exigences techniques du régime en matière de reporting. Le Gestionnaire continue
d’analyser les données disponibles qui seraient
nécessaires pour se conformer aux exigences techniques
en matière de reporting et pour évaluer ses obligations en vertu du régime PAI conjointement avec le Gestionnaire de portefeuille et reverra régulièrement sa décision de ne pas se conformer au régime PAI.

#### Le Règlement sur la taxonomie de l’UE
Bien que ce Compartiment soit classé au sens de l’Article 9 et vise à contribuer à des objectifs environnementaux, à la date du présent Supplément, ses
investissements sous-jacents ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental malgré le fait que
certaines de ses participations concernent des sociétés susceptibles de contribuer accessoirement aux objectifs
environnementaux en termes d’atténuation du changement climatique ou d’adaptation au changement climatique. L’évolution de la situation fera l’objet d’un suivi actif et cette classification pourra être reconsidérée, dès l’obtention d’autres données suffisamment précises, fiables et vérifiables sur les investissements du
Compartiment.

#### Enregistrement en Allemagne
Il est prévu que ce Compartiment sera enregistré pour la vente en Allemagne. Le Compartiment est classé en tant
que Fonds d’investissement aux fins de l’impôt allemand
et, à ce titre, il investira en permanence plus de 50 % de ses actifs en actions au sens de l’Article 2, paragraphe 8 de la Loi allemande sur la fiscalité des
investissements.

#### Utilisation d’IFD
Le Compartiment peut investir dans les IFD négociés en
Bourse ou de gré à gré suivants à des fins d’investissement :
| Contrats à terme standar- disés | Contrats à terme standardisés sur devises Contrats à terme standardisés sur indices boursiers Contrats à terme standardisés sur actions Contrats à terme standardisés sur indices |
| --- | --- |
| Options | Options sur actions (valeur individuelle, indice, secteur, panier personnalisé) LEPO et LEPW Options sur indices Options sur contrats à terme standardisés d’actions Options sur devises Options sur contrats à terme standardisés de devises |
| Contrats à terme | Contrats de change à terme |
| Titres avec IFD intégrés/effet de levier | Bons de souscription Droits de souscription d’actions Actions privilégiées convertibles |

De plus amples informations concernant l’utilisation d’IFD à des fins d’investissement, de couverture et de GEP, y compris à des fins commerciales, figurent à la section du Prospectus intitulée « La Société – Techniques et
instruments financiers dérivés ».

#### Indices financiers
Le Compartiment peut être indirectement exposé à des indices financiers par l’utilisation d’IFD à des fins d’investissement et de GEP. Le Compartiment utilise les indices financiers suivants à des fins d’investissement lorsqu’ils constituent l’outil le plus efficace ou lorsqu’il ne
peut pas accéder directement aux placements.
| Type d’indices financiers | Nom des indices financiers |
| --- | --- |
| Indices d’actions pour offrir une exposition aux marchés d’actions régionaux et mondiaux de manière plus rentable ou plus efficace que par l’achat de titres physiques | MSCI Emerging Markets Index MSCI India Index MSCI China Index |

Ces indices financiers seront rééquilibrés régulièrement. Toutefois, sachant que le Compartiment ne vise pas à reproduire ou répliquer un indice financier, il ne sera pas
directement affecté par les rééquilibrages, les coûts associés ou la pondération des actions de l’indice financier qui ne respecterait pas les restrictions d’investissement fixées.
Des références permettant d’obtenir des informations supplémentaires sur les indices financiers mentionnés ci- dessus sont fournies dans l’« Annexe IX – Informations supplémentaires sur les indices financiers utilisés à des fins d’investissement » du Prospectus.
Si le Compartiment est exposé à un indice financier à des fins d’investissement, qui ne figure pas dans la liste ci- dessus, une description détaillée de l’indice et notamment du marché qu’il représente et des références pour obtenir des informations supplémentaires seront
fournies dans les comptes semestriels et annuels de la Société.

#### Exposition globale et effet de levier
Méthodologie de calcul de l’exposition globale : Approche par les engagements
Effet de levier maximum : 100 % de la Valeur liquidative
Pour plus d’informations sur l’approche par les engagements, veuillez consulter la section du Prospectus intitulée « La Société – Exposition globale et effet de levier ».

#### Gestion efficace de portefeuille
Le Compartiment peut recourir aux types d’IFD suivants à des fins de GEP : - contrats à terme standardisés,
options, swaps, contrats à terme, et bons de souscription. Le Compartiment peut aussi utiliser des accords de mise/prise en pension à des fins de GEP, sous réserve des conditions et limites posées par la Réglementation OPCVM de la Banque centrale. Veuillez consulter la section du Prospectus intitulée « La Société
– Gestion efficace de portefeuille » pour de plus amples
informations sur les différents types de techniques et d’IFD que le Compartiment peut utiliser à des fins de GEP.

#### Accords de prêt de titres
Ce Compartiment n’aura pas recours aux accords de prêt de titres et peut donc renoncer à tout rendement supplémentaire pouvant être généré par ces activités.

#### Opérations de financement sur titres
Le Compartiment peut procéder à des OFT, soit des accords de mise/prise en pension, comme décrit ci- dessous à la section du Prospectus intitulée « Gestion efficace de portefeuille ».
L’exposition maximale du Compartiment eu égard aux OFT correspond à 100 % de sa Valeur liquidative. Il n’est toutefois pas prévu que l’exposition du Compartiment aux
OFT excède 15 % de sa Valeur liquidative. Les types d’actifs qui feront l’objet d’OFT seront les titres dont la nature est conforme à la politique d’investissement du Compartiment.
De plus amples détails concernant les OFT ainsi que les garanties acceptables et la procédure relative à la contrepartie sont fournis aux rubriques du Prospectus
intitulées « Annexe III – Opérations de financement sur titres », « Annexe III – Gestion des garanties »,
« Annexe III – Recours à des accords de mise/prise en pension et accords de prêt de titres », « Gestion efficace de portefeuille » et « Facteurs de risques ».

#### Émission d’Actions
Les Actions de catégories d’actions non lancées disponibles seront proposées durant une période d’offre initiale, commençant à 9 h, le 1
er 
juin 2022 et s’achevant à 17 h le 30 novembre 2022 (la « Période d’offre
initiale »), à un prix d’offre initial par Action de 1 USD,
1 EUR, 1 GBP, 1 CHF, 10 DKK, 10 SEK, 10 NOK ou 1 SGD
selon la devise de la catégorie concernée (majoré, le cas échéant, de la commission de vente de la catégorie concernée).
Les périodes d’offre initiale respectives peuvent être réduites ou prolongées par les Administrateurs. La Banque centrale devra être notifiée à l’avance de tout intervalle écourté ou prolongé si des souscriptions d’Actions ont été reçues, et chaque année dans tous les autres cas.
Après clôture des périodes d’offre initiale respectives, les Actions de chacune des catégories seront attribuées chaque Jour d’évaluation à l’Heure d’évaluation. Le prix de souscription est égal à la Valeur liquidative par action de cette catégorie, calculée à l’Heure d’évaluation (majorée de la commission de vente, le cas échéant,
applicable à la catégorie concernée).
Toutes les demandes d’émission d’Actions doivent être reçues avant l’Heure limite de négociation, selon les modalités définies dans le Prospectus.

#### Politique de distribution
Dans le cas des catégories d’actions de distribution (Dist.) et de capitalisation (Cap.), les dividendes seront normalement déclarés le 31 décembre de chaque année.
Concernant les détenteurs d’Actions de distribution, les
dividendes déclarés leur seront normalement versés au
plus tard le 11 février. De plus amples informations sont disponibles à la section « La Société – Politique de distribution » du Prospectus.

#### Commissions
Les commissions et les frais des Administrateurs, du Gestionnaire de portefeuille, de l’Agent administratif, du Dépositaire, ainsi que les frais d’établissement sont définis à l’intitulé « Gestion et administration de la Société – Commissions et frais » du Prospectus. La
commission annuelle de gestion perçue par le
Gestionnaire est définie à la rubrique « Catégorie d’actions » ci-dessus.
Les commissions et frais liés à la constitution et à l’organisation du Compartiment, y compris les honoraires des conseillers professionnels du Compartiment seront
pris en charge par le Compartiment. Ces commissions et frais sont estimés à un maximum de 35 000 € et seront pris en charge par le Compartiment et amortis sur une
période de 3 ans à partir de son lancement.

#### Facteurs de risque
Nous attirons l’attention des investisseurs sur le contenu de la section intitulée « Facteurs de risque » du Prospectus.