BOLD® Future offers retail clients the opportunity to make a social impact through Dreyfus’ flagship money fund in partnership with Howard University
NEW YORK, June 5, 2024 — Dreyfus, BNY Mellon’s affiliated liquidity manager, today announced the launch of BOLD® Future, a new share class for retail investors of the Dreyfus Government Cash Management fund. Building on the demand from institutional investors for BOLD, which stands for Black Opportunity for Learning and Development, BOLD Future will support Howard University’s Graduation, Retention, and Access to Continued Excellence (GRACE) Grant by making an annual donation of 10% of the net revenue1 of the share class to a dedicated scholarship within the GRACE Grant.
BOLD Future is designed to address the liquidity needs of financial advisors and their clients with an investment minimum of $25,000. BOLD Future is the latest innovation from Dreyfus in its 50th year as a leading provider of liquidity solutions.
“As one of the largest and most trusted cash and liquidity managers, we’re delighted to deepen our partnership with Howard University and applaud their ongoing commitment to helping the highest-need students graduate. We are proud to have donated over $1 million to Howard University’s GRACE Grant, powered by the strong commitment of our institutional clients,” said John Tobin, Chief Investment Officer at Dreyfus. “With the launch of BOLD Future, Dreyfus now offers financial advisors and their clients the same opportunity to make their money work harder by doing well and doing good.”
“Our partnership with Dreyfus is a game changer in eliminating financial barriers for Howard University students so that they focus more on completing college degrees, excelling in their chosen fields and advancing a more just and equitable society,” said Ben Vinson, III, PhD, President of Howard University. “Investing in the GRACE Grant not only strengthens retention and graduation rates, but also enables students to lead and succeed in making the world a better place for everyone. Our nation and the world stand to benefit from this type of transformative support as we move Howard forward toward maximum strength.”
To learn more, visit: https://www.dreyfus.com/products/the-bold-shares.html.
BNY Mellon is a global financial services company that helps make money work for the world – managing it, moving it and keeping it safe. For 240 years we have partnered alongside our clients, putting our expertise and platforms to work to help them achieve their ambitions. Today we help over 90% of Fortune 100 companies and nearly all the top 100 banks globally access the money they need. We support governments in funding local projects and work with over 90% of the top 100 pension plans to safeguard investments for millions of individuals, and so much more. As of March 31, 2024, we oversee $48.8 trillion in assets under custody and/or administration and $2.0 trillion in assets under management.
BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). We are headquartered in New York City, employ over 50,000 people globally and have been named among Fortune’s World’s Most Admired Companies and Fast Company’s Best Workplaces for Innovators. Additional information is available on www.bnymellon.com. Follow us on LinkedIn or visit our Newsroom for the latest company news.
BNY Mellon Investment Management is one of the world’s largest asset managers, managing almost $2 trillion across a range of traditional and alternative assets through seven specialist investment firms – ARX, Dreyfus, Insight, Mellon, Newton, Siguler Guff, and Walter Scott. For more information: www.bnymellonim.com.
Dreyfus is one of the largest and trusted liquidity managers in the industry. Our strategies span major asset classes, including Treasury, US government and short duration fixed income. Investors can access our solutions in a variety of pooled vehicles, including domestic and offshore money market funds, an ultra-short income exchange-traded fund (ETF), and collective investment trusts (CITs). We also offer customized portfolio solutions, including separately managed accounts as well as private and white label options. With 50 years of history, we are committed to building intelligent, innovative liquidity solutions with our clients in mind. For more information please visit www.Dreyfus.com.
Howard University, founded in 1867, is a private, research university that is comprised of 14 schools and colleges. Students pursue more than 140 programs of study leading to undergraduate, graduate and professional degrees. The University operates with a commitment to Excellence in Truth and Service and has produced one Schwarzman Scholar, three Marshall Scholars, four Rhodes Scholars, 12 Truman Scholars, 25 Pickering Fellows and more than 165 Fulbright recipients. Howard also produces more on-campus African American Ph.D. recipients than any other university in the United States. For more information on Howard University, visit www.howard.edu.
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Media Contact
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1 “Net revenue” represents the management fee paid by the Fund to BNY Mellon Investment Adviser after any fee waivers and/or expense reimbursements by BNYM Investment Adviser and less any revenue sharing payments made by BNYM Investment Adviser or its affiliates, with respect to the Fund’s BOLD Future shares.
SOURCE BNY Mellon
