Stable value attempts to offer participants intermediate-term (3-5 years) fixed income returns with less volatility of return than traditional bond portfolios of similar duration.The BNYM Mellon Stable Value Fund is only available to qualified investors through their employer's 401(k) or 457 plan, qualified collective trust or insurance company sponsored separate account. The Fund is managed by certain employees of Mellon Investments Corporation (Mellon) acting in their capacity as officers of the Bank. Participating plans that invest in the Fund enter into an investment management agreement with the Bank. There is no assurance that the Fund will achieve its investment objective.
The Fund intends to pay most, but likely not all, of its net income to common shareholders in monthly income dividends. Probably even more impactful and surprising was the Secondary Market Corporate Credit Facility, which allowed the Fed to purchase corporate bonds in the secondary marketplace and announced that corporate bonds whose credit quality rating were rated investment grade as of March 21, 2020 would be eligible even if they were subsequently downgraded into the junk bond territory. Money Market yields tend to react immediately to changes in interest rates, while stable value funds will usually smooth out the changes over time. Over a full interest rate cycle we would expect a stable value fund to outperform the 3 month T-Bill by 150 to 200 basis points per year. The BNYM Mellon Stable Value Fund invests in a diversified group of high-quality, fixed-income investments that are held by the participating plan within investment contracts intended to minimize market volatility. The contracts are issued by highly rated banks and insurance companies and hold investments which include high-quality debt securities such as agency mortgage-backed securities, commercial mortgage-backed securities, asset-backed securities and corporate securities.Stable value is a unique asset class offering defined contribution plan investors the investment objective of preservation of principal while seeking to generate a stable rate of return in their retirement account. It can be a complement or alternative to more volatile asset classes and may benefit investors with shorter investment horizons. As portfolio and market conditions may change, the distribution rate, the composition of the distribution and the Fund's policy to declare distributions monthly may be subject to change, including by the Board of Directors.This release is for informational purposes only and should not be considered as investment advice or a recommendation of any particular security.BNY Mellon Investment Adviser, Inc., the investment adviser for the Fund, is part of BNY Mellon Investment Management. The Bank and Mellon are subsidiaries of The Bank of New York Mellon Corporation.Stable value funds invest in Guaranteed Investment Contracts ("GICs") which are guaranteed by the issuing financial institution such as a bank or an insurance company. Moody's Investors Service 08 Mar 2012 Rating Action Moody's Downgrades BNY Mellon senior debt to Aa3 from Aa2.
Mellon maintains strict credit quality standards and constantly scrutinizes the financial health of the insurance companies and commercial banks from which we purchase investments. BNY Mellon Investment Management encompasses BNY Mellon’s affiliated investment management firms, wealth management organization and global distribution companies. Please refer to the Returns or Fact Sheets on the secure Investor Portal portion of the website for standard period returns.The BNYM Mellon Stable Value Fund is a bank-sponsored collective investment trust fund and is not open to the public for investment; therefore you cannot find the ticker symbol or CUSIP in any financial publication. Visit Investment Management. Mellon maintains strict credit quality standards and constantly scrutinizes the financial health of the insurance companies and commercial banks from which we purchase investments. The ex-dividend date is August 11, 2020.
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