BNY Mellon Global Funds, plcDated: 17 November, 2017

(Consolidated as of 31 January, 2018)

(An open-ended umbrella type investment company with variable capital incorporated with limited liabilityunder the laws of Ireland, registered number 335837, with segregated liability between Sub-Funds)

Prospectus

BNY Mellon Global Funds, plc (the “Company”) is an open-ended umbrella type investment company with variable capital incorporated withlimited liability under the laws of Ireland and authorised by the Central Bank of Ireland pursuant to the European Communities (Undertakings forCollective Investment in Transferable Securities) Regulations, 2011 (SI. No 352 of 2011) (as amended). There exists segregated liability betweenSub-Funds.

If you are in doubt about the contents of this Prospectus, you should consult your stockbroker or other independent financial adviser.

The Directors whose names appear under the heading “Management and Administration of the Company” accept full responsibility for theaccuracy of the information contained in this Prospectus. To the best of the knowledge and belief of the Directors (who have taken all care toensure that such is the case) such information is in accordance with the facts and does not omit anything likely to affect the import of suchinformation. The Directors accept responsibility accordingly.

PRELIMINARY

Authorisation of the Company and of its Sub-Funds is not anendorsement or guarantee of the Company or its Sub-Fundsby the Central Bank nor is the Central Bank responsible forthe contents of this Prospectus. The authorisation of theCompany and of its Sub-Funds by the Central Bank shall notconstitute a warranty as to the performance of the Companyand of its Sub-Funds and the Central Bank shall not be liablefor the performance or default of the Company or its Sub-Funds.No person has been authorised to issue any advertisement or togive any information, or to make any representations in connectionwith the offering, placing, subscription or sale of Shares other thanthose contained in this Prospectus and, if issued, given or made,such advertisement, information or representations must not berelied upon as having been authorised by the Company. Neitherthe delivery of this Prospectus nor the offer, placement, allotmentor issue of any of the Shares shall under any circumstancescreate any implication or constitute a representation that theinformation given in this Prospectus is correct as of any timesubsequent to the date hereof.

This Prospectus does not constitute, and may not be used for thepurposes of, an offer or solicitation to anyone in any jurisdiction inwhich such offer or solicitation is not authorised, or to any personto whom it is unlawful to make such offer or solicitation. Thedistribution of this Prospectus and the offering of Shares in certainjurisdictions may be restricted and accordingly, persons intowhose possession this Prospectus comes are required to informthemselves about and to observe such restrictions. Prospectiveinvestors should inform themselves as to

a) the legal requirements within their own jurisdictions for thepurchase or holding of Shares;

b) any foreign exchange restrictions which may affect them;

and

c) the income and other tax consequences which may apply intheir own jurisdictions relevant to the purchase, holding ordisposal of Shares.

The Shares have not been and will not be registered in the UnitedStates under the Securities Act of 1933, as amended (the“Securities Act”), or any U.S. state securities laws, and neither anySub-Fund nor the Company has been or will be registered in theUnited States under the Investment Company Act of 1940, asamended (the “1940 Act”), and Shareholders will not be entitled tothe benefits of such registration. Accordingly, except as providedbelow, no Shares may be offered or sold, directly or indirectly, inthe United States, any state thereof or its territories orpossessions or to any U.S. Person. The Directors may authorisethe offer and sale of Shares in the United States or to a limitednumber or category of U.S. Persons provided that, if soauthorised, Shares will be offered and sold only to such personsand in such manner as will not require registration of theCompany, any Sub-Fund, or the Shares under the securities lawsof the United States or any state thereof. The Shares have notbeen approved or disapproved by the United States Securitiesand Exchange Commission, any state securities commission orother regulatory authority in the United States, nor has any suchauthority passed upon or endorsed the merits of this offering orthe accuracy or adequacy of this Prospectus as may be amendedor supplemented from time to time. Any representation to thecontrary is a criminal offence. Certain restrictions also apply to anysubsequent transfer of Shares in the United States or to U.S.Persons (please see the compulsory redemption provisions underthe section entitled “Restrictions on Ownership, CompulsoryRepurchase and Transfer of Shares” in the Prospectus). Should a

Shareholder become a U.S. Person they may be subject toadverse tax consequences including without limitation U.S.withholding taxes and tax reporting.

Applicants will be required to certify that they are not U.S.Persons precluded from purchasing, acquiring or holding Shares.

This Prospectus relates to the Company which is not subject toany form of regulation or approval by the Dubai Financial ServicesAuthority (“DFSA”).

This Prospectus is intended for distribution only to persons of atype specified in the DFSA’s Rules (i.e. “Qualified Investors”) andmust not, therefore, be delivered to, or relied on by, any othertype of person.

The DFSA has no responsibility for reviewing or verifying anyProspectus or other documents in connection with this Company.Accordingly, the DFSA has not approved this Prospectus or anyother associated documents nor taken any steps to verify theinformation set out in this Prospectus, and has no responsibilityfor it.

The Shares to which this Prospectus relates may be illiquid and/orsubject to restrictions on their resale. Prospective purchasers ofthe Shares offered should conduct their own due diligence on theShares.

If you do not understand the contents of this document youshould consult an authorised financial adviser.

None of the Shares have been or will be registered under theSecurities and Exchange law of Japan or with the JapanSecurities Dealers Association. Accordingly, the Shares may notbe offered or sold, directly or indirectly, in Japan or to residents ofJapan. The Directors may, however, authorise the offer and sale ofShares to a limited number or category of Japanese investorsand, if so authorised, Shares will only be offered and sold to suchpersons and in such manner as will not require registration of theShares with the Securities and Exchange Law of Japan or withthe Japan Securities Dealers Association.

The Company may at any time repurchase, or request the transferof, Shares held by persons who are excluded from purchasing orholding Shares as set out in “Restrictions on Ownership,Compulsory Repurchase and Transfer of Shares”.

Application may be made to the Irish Stock Exchange for theShares of any particular class or Sub-Fund to be admitted to theOfficial List and to trading on the Main Securities Market of theIrish Stock Exchange. The Directors do not expect that an activesecondary market will develop in the Shares. The admission of theShares to the Official List and to trading on the Main SecuritiesMarket of the Irish Stock Exchange shall not constitute a warrantyor representation by the Irish Stock Exchange as to thecompetence of the service providers to or any other partyconnected with the Company, the adequacy of informationcontained in the Prospectus and Supplements or the suitability ofthe Company for investment purposes.

Distribution of this Prospectus is not authorised after thepublication of the latest half-yearly report of the Company unless itis accompanied by a copy of that report, and is not authorisedafter the publication of the annual report of the Company unless itis accompanied by a copy of that report and, if publishedsubsequently, the latest half-yearly report. Such reports and eachrelevant Supplement to this Prospectus will form part of thisProspectus.

Unless otherwise provided, statements made in this Prospectusare based on the law and practice currently in force in Ireland andare subject to changes in that law.

BNY Mellon Global Funds, plc – Preliminary 3

Investors should note that investments in securities can be volatileand their value may decline as well as appreciate. There can beno assurance that a Sub-Fund will attain its objective.

The price of Shares as well as any income therefrom may godown as well as up to reflect changes in the Net Asset Valueof a Sub-Fund. The value of your investments may fluctuate.Past performance provides no guarantee for the future. Aredemption fee may be imposed which may differ betweenclasses and Sub-Funds (as detailed in the Supplementshereto) and which shall at no time exceed 3% of the totalredemption amount. The difference at any one time betweenthe sale and repurchase price of the Shares means that theinvestment should be viewed as medium to long-term.

Unless otherwise indicated in the relevant Supplement, feesand expenses are only charged to capital where there isinsufficient income to cover fees and expenses. Where all orpart of the fees (including management fees), are charged tocapital, Shareholders should note that capital may be erodedand this will have the effect of lowering the capital value of aninvestment and constraining the potential for future capitalgrowth. Thus, on redemptions of holdings Shareholders maynot receive back the full amount invested.

Attention is also drawn to the section headed “Risk Factors”.

4 BNY Mellon Global Funds, plc – Preliminary

CONTENTS

Preliminary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

Directory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

The Company . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15

Establishment and Duration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15

Structure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15

Investment Objectives and Policies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

Investment and Borrowing Restrictions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

Cluster Munitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

Financial Derivative Instruments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

Risk Management Process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

Efficient Portfolio Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

Share Class Hedging . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22

Distribution Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22

UK Reporting Fund Status . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23

Application for Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23

Issue of Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24

Repurchase of Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25

Restrictions on Ownership, Compulsory Repurchase and Transfer of Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26

Compulsory Conversion of Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26

Voluntary Switching and/or Conversion of Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26

Transfer of Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27

Calculation of Net Asset Value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27

Dilution Adjustment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29

Publication of Net Asset Value per Share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30

Management and Administration of the Company . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31

Directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31

Manager . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31

Investment Managers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32

Global Distributor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32

Sub-Investment Managers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33

Investment Advisors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33

i-Hedge Administrator . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33

Administrator . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33

Depositary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33

Distributors and Paying Agents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34

Conflicts of Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34

Soft Commissions and fee sharing arrangements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35

Best Execution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35

Voting Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35

Class Actions Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35

Fees and Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35

Error and Breach Correction Policies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37

Accounts and Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37

Risk Factors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38

General . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38

Political and/or Regulatory Risks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38

BNY Mellon Global Funds, plc – Contents 5

Currency Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38

Investment Manager and Strategy Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38

Index Tracking Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38

Counterparty Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38

Legal and Operational Risks Linked to Management Collateral . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39

Borrowing Risks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39

Segregated Liability Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39

Operation of Umbrella Cash Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39

Accounting, Auditing and Financial Reporting Standards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39

Market Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39

Concentration Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40

Exchange Control and Repatriation Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40

Emerging Markets Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40

Sovereign Debt Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40

Eurozone Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40

Investment in Russia . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40

Investment in Mainland China . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40

Custody Risks and Settlement Risks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41

Liquidity Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41

Valuation Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42

Securities Lending Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42

Credit Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42

Credit Ratings and Unrated Securities Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42

Redemption Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42

Changes in Interest Rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42

Global Financial Market Crisis and Governmental Intervention . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42

Market Disruptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43

Reliability of Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43

Real Estate Investment Trusts (REITs) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43

Derivatives and Techniques and Instruments Risks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43

Investment Manager Valuation Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47

Market Capitalisation Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47

Structured Products Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47

Manager of Managers Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48

Allocation Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48

Taxation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48

Foreign Account Tax Compliance Act . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48

Common Reporting Standard . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49

Volcker Rule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49

US Bank Holding Company Act . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49

Cyber Security Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49

Taxation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51

General . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51

Irish Taxation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51

UK Taxation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54

Compliance with US reporting and withholding requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55

Common Reporting Standards (CRS) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55

Appendix I . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57

General Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57

Appendix II . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63

Eligible Markets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63

6 BNY Mellon Global Funds, plc – Contents

Appendix III . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65

Use of Repurchase/Reverse Repurchase and Stocklending Agreements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65

Securities Financing Transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65

Management of Collateral . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65

Collateral Management Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66

Appendix IV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68

Sub-Custodians . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68

Supplement 1 - BNY Mellon Asian Equity Fund

Supplement 2 - BNY Mellon Small Cap Euroland Fund

Supplement 3 - BNY Mellon Global Bond Fund

Supplement 4 - BNY Mellon Global Emerging Markets Equity Value Fund*

Supplement 5 - BNY Mellon Global Equity Fund

Supplement 6 - BNY Mellon Global High Yield Bond Fund

Supplement 7 - BNY Mellon Global Opportunities Fund

Supplement 8 - BNY Mellon Pan European Equity Fund*

Supplement 9 - BNY Mellon S&P 500® Index Tracker

Supplement 10 - BNY Mellon U.S. Dynamic Value Fund

Supplement 11 - BNY Mellon Euroland Bond Fund

Supplement 12 - BNY Mellon Emerging Markets Debt Fund

Supplement 13 - BNY Mellon Emerging Markets Debt Local Currency Fund

Supplement 14 - BNY Mellon Brazil Equity Fund

Supplement 15 - BNY Mellon Long-Term Global Equity Fund

Supplement 16 - BNY Mellon Global Property Securities Fund*

Supplement 17 - BNY Mellon Emerging Markets Equity Fund*

Supplement 18 - BNY Mellon Global Real Return Fund (USD)

Supplement 19 - BNY Mellon Global Real Return Fund (EUR)

Supplement 20 - BNY Mellon Global Opportunistic Bond Fund

Supplement 21 - BNY Mellon Global Equity Income Fund

Supplement 22 - BNY Mellon Global Dynamic Bond Fund

Supplement 23 - BNY Mellon Absolute Return Equity Fund

Supplement 24 - BNY Mellon Emerging Markets Local Currency Investment Grade Debt Fund*

Supplement 25 - BNY Mellon Emerging Markets Corporate Debt Fund

Supplement 26 - BNY Mellon Absolute Return Bond Fund

Supplement 27 - BNY Mellon European Credit Fund

Supplement 28 - BNY Mellon Global Real Return Fund (GBP)

Supplement 29 - BNY Mellon Emerging Markets Equity Core Fund*

Supplement 30 - BNY Mellon Global Emerging Markets Fund

Supplement 31 - BNY Mellon Emerging Markets Debt Opportunistic Fund

Supplement 32 - BNY Mellon Crossover Credit Fund*

Supplement 33 - BNY Mellon Japan Small Cap Equity Focus Fund

Supplement 34 - BNY Mellon Japan All Cap Equity Fund

Supplement 35 - BNY Mellon Asian Income Fund

Supplement 36 - BNY Mellon US Opportunities Fund

Supplement 37 - BNY Mellon Absolute Insight Fund

Supplement 38 - BNY Mellon Asian Bond Fund*

Supplement 39 - BNY Mellon Dynamic Total Return Fund

BNY Mellon Global Funds, plc – Contents 7

Supplement 40 - BNY Mellon Alpha Equity Select Fund

Supplement 41 - BNY Mellon Global Leaders Fund

Supplement 42 - BNY Mellon Targeted Return Bond Fund

Supplement 43 - BNY Mellon Global Credit Fund

Supplement 44 - BNY Mellon Asia Rising Stars Fund

Supplement 45 - BNY Mellon U.S. Equity Income Fund

Supplement 46 - BNY Mellon Global Short-Dated High Yield Bond Fund

Supplement 47 - BNY Mellon Japan REIT Alpha Fund

Supplement 48 - BNY Mellon U.S. Municipal Infrastructure Debt Fund

Supplement 49 - BNY Mellon Dynamic U.S. Equity Fund

Supplement 50 - BNY Mellon Global Unconstrained Fund

Supplement 51 - BNY Mellon Global Multi-Asset Income Fund

Supplement 52 - BNY Mellon U.S. High Yield Beta Fund

Supplement 53 - BNY Mellon Emerging Markets Debt Total Return Fund

Supplement 54 - BNY Mellon Multi-Asset High Income Fund

First Addendum – BNY Mellon Global Funds, PLC (The “Company”) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .428

1. Change of Name of Investment Manager . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .428

2. Change of Investment Managers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .428

3. Consequential deletions as a result of the changes above . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .428

BNY MELLON S&P 500® INDEX TRACKER: S&P 500® is a trademark of The McGraw-Hill Companies, Inc. and has been licensed for use by BNY MellonGlobal Funds, plc. The BNY Mellon S&P 500® Index Tracker is not sponsored, endorsed, sold or promoted by Standard & Poor’s and Standard & Poor’smakes no representation regarding the advisability of investing in the BNY Mellon S&P 500® Index Tracker.

* please note that these Sub-Funds are closed to subscriptions and are pending revocation from the Central Bank. Please see the relevant Supplementsfor further information.

8 BNY Mellon Global Funds, plc – Contents

DIRECTORY

Q Registered OfficeOne Dockland CentralGuild StreetIFSCDublin 1D01E4X0Ireland

Q SecretaryTudor Trust Limited33 Sir John Rogerson’s QuayDublin 2Ireland

Q DirectorsDavid DillonMichael MeagherGreg BriskDavid TurnbullJonathan Lubran

Q DepositaryBNY Mellon Trust Company (Ireland) LimitedOne Dockland CentralGuild StreetIFSCDublin 1D01E4X0Ireland

Q Administrator, Registrar and Transfer AgentBNY Mellon Fund Services (Ireland) Designated ActivityCompanyOne Dockland CentralGuild StreetIFSCDublin 1D01E4X0Ireland

Q Legal Advisers in IrelandDillon Eustace33 Sir John Rogerson’s QuayDublin 2Ireland

Q AuditorsErnst & YoungHarcourt CentreHarcourt StreetDublin 2Ireland

Q Global Distributor and PromoterBNY Mellon Investment Management EMEA Limited(formerly “BNY Mellon Asset Management InternationalLimited”)BNY Mellon Centre160 Queen Victoria StreetLondon EC4V 4LAUnited Kingdom

Q ManagerBNY Mellon Global Management Limited33 Sir John Rogerson’s QuayDublin, 2Ireland

Q Investment ManagersMellon Capital Management Corporation50 Fremont StreetSuite 3900San FranciscoCalifornia 94105United States

The Boston Company Asset Management, LLCOne Boston Place14th Floor, Suite 024-0141Boston MA 02108-4408United States

Newton Investment Management LimitedBNY Mellon Centre160 Queen Victoria StreetLondon, EC4V 4LAUnited Kingdom

Standish Mellon Asset Management Company LLCBNY Mellon Center201 Washington Street, Suite 2900Boston, MA 02108-4408United States

Walter Scott & Partners LimitedOne Charlotte SquareEdinburgh, EH2 4DRScotlandUnited Kingdom

ARX Investimentos Ltda.Avenida Borges de Medeiros, 633, 4th floor, LeblonRio de Janeiro, R.J.BrazilZip Code: 22430-041

Alcentra NY, LLC200 Park Ave., 7th FloorNew York, NY 10166United States

Insight Investment Management (Global) Limited160 Queen Victoria StreetLondon, EC4V 4LAUnited Kingdom

BNY Mellon Asset Management Japan LimitedMarunouchi Trust Tower Main1-8-3 Marunouchi, Chiyoda-kuTokyo 100-0005Japan

EACM Advisors LLC200 Connecticut AvenueNorwalkCT 06854United States

BNY Mellon Global Funds, plc – Directory 9

DEFINITIONS

The following definitions apply throughout this Prospectus unlessthe context otherwise requires:

Q “Administration Agreement”an agreement dated 13 March 2001 between the Managerand Mellon Fund Administration Limited, as amended and asnovated by agreement between the Manager, Mellon FundAdministration Limited and the Administrator dated 31 July2008, as amended, supplemented or otherwise modified fromtime to time in accordance with the requirements of theCentral Bank UCITS Regulations 2015

Q “Administrator”BNY Mellon Fund Services (Ireland) Designated ActivityCompany or any successor company appointed by theManager as administrator of the Company and of each Sub-Fund in accordance with the requirements of the CentralBank UCITS Regulations 2015

Q “Articles”the Memorandum and Articles of Association of theCompany, as amended from time to time

Q “Board” or “Directors”the board of directors of the Company, including dulyauthorised committees of the board of directors

Q “Business Day”any such day or days as set out in the relevant Supplement

Q “Central Bank”the Central Bank of Ireland or any successor body thereto

Q “Central Bank UCITS Regulations 2015”the Central Bank (Supervision and Enforcement) Act 2013(Section 48(1)) (Undertakings for Collective Investment inTransferable Securities) Regulations 2015, as may beamended, supplemented or replaced from time to time andany related guidance issued by the Central Bank from time totime

Q “Company”BNY Mellon Global Funds, plc

Q “Dealing Deadline”such day and time as specified in the relevant Supplement forthe Sub-Fund

Q “Depositary”shall mean BNY Mellon Trust Company (Ireland) Limited,which acts as depositary of the Company or any successorcompany appointed by the Company with the prior approvalof the Central Bank as depositary of the Company and ofeach Sub-Fund

Q “Depositary Agreement”shall mean the custody agreement dated 13 March 2001between the Company and Mellon Trustees Limited, asamended and as novated by agreement between theCompany, Mellon Trustees Limited and the Depositary dated31 July 2008, as amended and replaced by the depositaryagreement between the Company and the Depositary dated1 July, 2016, as may be amended, substituted or replacedfrom time to time subject to the requirements of the CentralBank

Q “Eligible Markets”markets on which a Sub-Fund may invest, as defined in theArticles as “Recognised Exchanges”. A list of such markets iscontained in Appendix II hereto

Q “ESMA”shall mean the European Securities and Markets Authority

Q “Exempt Irish Investor”• a pension scheme which is an exempt approved scheme

within the meaning of Section 774 of the Taxes Act or aretirement annuity contract or a trust scheme to whichSection 784 or 785 of the Taxes Act applies;

• a company carrying on life business within the meaningof Section 706 of the Taxes Act;

• an investment undertaking within the meaning of Section739B(1) of the Taxes Act;

• a special investment scheme within the meaning ofSection 737 of the Taxes Act;

• a charity being a person referred to in Section 739D(6)(f)(i) of the Taxes Act;

• a unit trust to which Section 731(5)(a) of the Taxes Actapplies;

• a qualifying fund manager within the meaning of Section784A(1)(a) of the Taxes Act where the Shares held areassets of an approved retirement fund or an approvedminimum retirement fund;

• a qualifying management company within the meaning ofSection 739B of the Taxes Act;

• an investment limited partnership within the meaning ofSection 739J of the Taxes Act;

• a personal retirement savings account (“PRSA”)administrator acting on behalf of a person who is entitledto exemption from income tax and capital gains tax byvirtue of Section 787I of the Taxes Act and the Sharesare assets of a PRSA;

• a credit union within the meaning of Section 2 of theCredit Union Act, 1997;

• the National Asset Management Agency;• the National Treasury Management Agency or a Fund

investment vehicle (within the meaning of section 37 ofthe National Treasury Management Agency (Amendment)Act 2014) of which the Minister for Finance is the solebeneficial owner, or the State acting through the NationalTreasury Management Agency;

• a company which is within the charge to corporation taxin accordance with Section 110(2) of the Taxes Act inrespect of payments made to it by the Company or;

10 BNY Mellon Global Funds, plc – Definitions

• any other Irish Resident or persons who are OrdinarilyResident in Ireland who may be permitted to own Sharesunder taxation legislation or by written practice orconcession of the Revenue Commissioners withoutgiving rise to a charge to tax in the Company orjeopardising tax exemptions associated with theCompany giving rise to a charge to tax in the Company;

provided that they have correctly completed the RelevantDeclaration.

Q “FCA”the Financial Conduct Authority of 25 the North Colonnade,Canary Wharf, London E14 5HS

Q “Global Distributor”BNY Mellon Investment Management EMEA Limited

Q “Guidance”the Central Bank’s guidance issued from time to time inrespect of the application of the Central Bank UCITSRegulations 2015

Q “Institutional Investors”Includes:

• undertakings or organisations such as a banks, moneymanagers or other professionals in the financial sectorinvesting either on their own behalf or on behalf ofInstitutional Investors or clients under a discretionarymanagement agreement;

• insurance and reinsurance companies;

• pension funds;

• industrial, commercial and financial group companies;

• regional and local authorities;

• collective investment schemes;

• experienced and knowledgeable investors; and

• the structures which any of the above investor types putinto place for the management of their own assets

Q “Intermediary”means a person who:

• carries on a business which consists of, or includes, thereceipt of payments from an investment undertaking onbehalf of other persons;

or

• holds shares in an investment undertaking on behalf ofother persons

Q “Investment Advisor”any one or more investment advisors appointed by anInvestment Manager to provide investment advice in respectof the assets of a Sub-Fund

Q “Investment Managers”such parties appointed by the Manager from time to time, toact as investment manager of the Sub-Funds in accordancewith the requirements of the Central Bank UCITS Regulations2015 and as set out in each Supplement to the Prospectus

Q “Investment Management Agreement”an agreement between the Manager and each of theInvestment Managers respectively, as amended,supplemented or otherwise modified from time to time inaccordance with the requirements of the Central Bank

Q “Ireland”the Republic of Ireland

Q “Irish Resident”means in the case of:

• an individual, means an individual who is resident inIreland for tax purposes.

• a trust, means a trust that is resident in Ireland for taxpurposes.

• a company, means a company that is resident in Irelandfor tax purposes.

An individual will be regarded as being resident in Irelandfor a tax year if he/she is present in Ireland: (1) for aperiod of at least 183 days in that tax year; or (2)

for a period of at least 280 days in any two consecutivetax years, provided that the individual is present inIreland for at least 31 days in each period. In determiningdays present in Ireland, an individual is deemed to bepresent if he/she is in Ireland at any time during the day.This test takes effect from 1 January 2009 (previously indetermining days present in Ireland an individual wasdeemed to be present if he/she was in Ireland at the endof the day (midnight)).

A trust will generally be Irish resident where the trustee isresident in Ireland or a majority of the trustees (if morethan one) are resident in Ireland.

A company which has its central management andcontrol in Ireland is resident in Ireland irrespective ofwhere it is incorporated. A company which does nothave its central management and control in Ireland butwhich is incorporated in Ireland is resident in Irelandexcept where:

– the company or a related company carries on atrade in Ireland, and either the company is ultimatelycontrolled by persons resident in EU Member Statesor in countries with which Ireland has a doubletaxation treaty, or the company or a relatedcompany are quoted companies on a recognisedStock Exchange in the EU or in a treaty countryunder a double taxation treaty between Ireland andthat country. This exception does not apply where itwould result in an Irish incorporated company that ismanaged and controlled in a relevant territory (otherthan Ireland), but would not be resident in thatrelevant territory as it is not incorporated there, notbeing resident for tax purposes in any territory.

or

– the company is regarded as not resident in Irelandunder a double taxation treaty between Ireland andanother country.

The Finance Act 2014 amended the above residencyrules for companies incorporated on or after 1 January2015. These new residency rules will ensure thatcompanies incorporated in Ireland and also companiesnot so incorporated but that are managed and controlledin Ireland, will be tax resident in Ireland except to theextent that the company in question is, by virtue of adouble taxation treaty between Ireland and anothercountry, regarded as resident in a territory other thanIreland (and thus not resident in Ireland). For companies

BNY Mellon Global Funds, plc – Definitions 11

incorporated before this date these new rules will notcome into effect until 1 January 2021 (except in limitedcircumstances).

It should be noted that the determination of a company’sresidence for tax purposes can be complex in certaincases and potential investors are referred to the specificlegislative provisions that are contained in Section 23A ofthe Taxes Act.

Q “Irish Stock Exchange”Irish Stock Exchange Limited

Q “Manager”BNY Mellon Global Management Limited appointed by theCompany with the prior approval of the Central Bank as themanager of the Company and of each Sub-Fund

Q “Management Agreement”an agreement dated 13 March 2001 between the Companyand the Manager, as amended, supplemented or otherwisemodified from time to time in accordance with therequirements of the Central Bank

Q “Management Share”a management share in the capital of the Company

Q “Member State”a member state of the European Economic Area (“EEA”)

Q “Net Asset Value of the Company”the aggregate net asset value of all the Sub-Funds

Q “Net Asset Value of the Sub-Fund”the net asset value of a Sub-Fund calculated in accordancewith the provisions of the Articles, as described under “TheCompany - Calculation of Net Asset Value”

Q “Net Asset Value per Share”the net asset value per Share of a Sub-Fund calculated inaccordance with the provisions of the Articles, as describedunder “The Company - Calculation of Net Asset Value”

Q “OECD”the Organisation for Economic Cooperation andDevelopment, whose member states include all countrieslisted on the OECD website: http://www.oecd.org

Q “Ordinarily Resident in Ireland”• in the case of an individual, means an individual who is

ordinarily resident in Ireland for tax purposes;

• in the case of a trust, means a trust that is ordinarilyresident in Ireland for tax purposes.

An individual will be regarded as ordinarily resident for aparticular tax year if he/she has been Irish Resident forthe three previous consecutive tax years (i.e. he/shebecomes ordinarily resident with effect from thecommencement of the fourth tax year). An individual willremain ordinarily resident in Ireland until he/she has beennon-Irish Resident for three consecutive tax years. Thus,an individual who is resident and ordinarily resident inIreland in the tax year 1 January 2017 to 31 December2017 and departs from Ireland in that tax year will remainordinarily resident up to the end of the tax year 1January 2020 to 31 December 2020.

The concept of a trust’s ordinary residence is somewhatobscure and linked to its tax residence.

Q “Paying Agency Agreement”one or more Paying Agency Agreements made between theCompany and/or the Manager and a Paying Agent

Q “Paying Agent”one or more paying agents appointed by the Company and/or the Manager in certain jurisdictions

Q “Prospectus”the prospectus of the Company and any supplements andaddenda thereto issued in accordance with the requirementsof the Central Bank UCITS Regulations 2015

Q “Recognised Clearing System”any clearing system listed in Section 246A of the Taxes Act(including, but not limited to, Euroclear, Clearstream BankingAG, Clearstream Banking SA and CREST) or any othersystem for clearing shares which is designated for thepurposes of Chapter 1A in Part 27 of the Taxes Act, by theIrish Revenue Commissioners, as a recognised clearingsystem.

Q “Register”the register in which the names of the Shareholders of theCompany are listed

Q “Relevant Declaration”the declaration relevant to the Shareholder as set out inSchedule 2B of the Taxes Act

Q “Relevant Period”means a period of 8 years beginning with the acquisition of aShare by a Shareholder and each subsequent period of 8years beginning immediately after the preceding RelevantPeriod

Q “Repurchase Price”the Net Asset Value per Share (subject to any dilutionadjustment) attributable to a particular class or Sub-Fund atthe date of the redemption

Q “Securities Act”the United States Securities Act of 1933, as amended

Q “SFC”the Hong Kong Securities and Futures Commission

Q “Shareholder”a person who is registered as the holder of Shares in theregister for the time being kept by or on behalf of theCompany

Q “Shares” or “Share”participating shares of no par value in the capital of theCompany which may be designated as different classes ofshares in one or more Sub-Funds

Q “Specified US Person”means

12 BNY Mellon Global Funds, plc – Definitions

a) a US citizen or resident individual,

b) a partnership or corporation organized in the UnitedStates or under the laws of the United States or anyState thereof

c) a trust if

i) a court within the United States would haveauthority under applicable law to render orders orjudgments concerning substantially all issuesregarding administration of the trust,

and

ii) one or more US persons have the authority tocontrol all substantial decisions of the trust, or anestate of a decedent that is a citizen or resident ofthe United States excluding

1) a corporation the stock of which is regularlytraded on one or more established securitiesmarkets;

2) any corporation that is a member of the sameexpanded affiliated group, as defined in section1471(e)(2) of the U.S. Internal Revenue Code,as a corporation described in clause a);

3) the United States or any wholly owned agencyor instrumentality thereof;

4) any State of the United States, any U.S.Territory, any political subdivision of any of theforegoing, or any wholly owned agency orinstrumentality of any one or more of theforegoing;

5) any organization exempt from taxation undersection 501(a) or an individual retirement planas defined in section 7701(a)(37) of the U.S.Internal Revenue Code;

6) any bank as defined in section 581 of the U.S.Internal Revenue Code;

7) any real estate investment trust as defined insection 856 of the U.S. Internal Revenue Code;

8) any regulated investment company as definedin section 851 of the U.S. Internal RevenueCode or any entity registered with the SecuritiesExchange Commission under the InvestmentCompany Act of 1940 (15 U.S.C. 80a-64);

9) any common trust fund as defined in section584(a) of the U.S. Internal Revenue Code;

10) any trust that is exempt from tax under section664(c) of the U.S. Internal Revenue Code orthat is described in section 4947(a)(1) of theU.S. Internal Revenue Code;

11) a dealer in securities, commodities, or derivativefinancial instruments (including notional principalcontracts, futures, forwards, and options) that isregistered as such under the laws of the UnitedStates or any State;

or

12) a broker as defined in section 6045(c) of theU.S. Internal Revenue Code. This definition shallbe interpreted in accordance with the USInternal Revenue Code

Q “Sub-Investment Manager”any one or more sub-investment managers or advisersappointed by an Investment Manager to manage the assetsof a Sub-Fund

Q “Sub-Fund”a sub-fund of the Company established by the Directors fromtime to time with the prior approval of the Central Bank

Q “Subscription Price”the Net Asset Value per Share (subject to any dilutionadjustment) attributable to a particular class or Sub-Fund atthe date of the subscription

Q “Supplement” or “Supplements”a document supplemental to this Prospectus which containsspecific information in relation to a particular Sub-Fund

Q “Taxes Act”the Taxes Consolidation Act, 1997 (of Ireland) as amended

Q “UCITS”an Undertaking for Collective Investment in TransferableSecurities established pursuant to EC Council Directive 85/611/EEC of 20 December 1985, as amended, consolidatedor substituted from time to time

Q “UCITS Directive”shall mean Directive 2009/65/EEC of the EuropeanParliament and of the Council, as amended by Directive2014/91/EU of 23rd July, 2014 and as may be furtheramended, consolidated or substituted from time to time

Q “UCITS Regulations”the European Communities Undertakings for CollectiveInvestment in Transferable Securities) Regulations, 2011 (S.I.No. 352 of 2011) as amended by the European Communities(Undertakings for Collective Investment in TransferableSecurities) (Amendment) Regulations, 2012 (S.I. No. 300 of2012) and as further amended by the European Union(Undertakings for Collective Investment in TransferableSecurities) (Amendment) Regulations, 2016 (S.I. No. 143 of2016), (as may be further amended, consolidated andsubstituted from time to time) and any regulations orGuidance issued by the Central Bank pursuant thereto for thetime being in force

Q “U.S. Person”a person who is in either of the following two categories:

a) a person included in the definition of “U.S. person” underRule 902 of Regulation S under the Securities Act

or

b) a person excluded from the definition of a “Non-UnitedStates person” as used in Commodity Futures TradingCommission (“CFTC”) Rule 4.7. For the avoidance ofdoubt, a person is excluded from this definition of U.S.Person only if he or it is outside both the definitions of “U.S. person” in Rule 902 and the definition of a “Non-United States person” under CFTC Rule 4.7. U.S. personunder Rule 902 generally includes the following:

i) any natural person resident in the United States(including U.S. residents temporarily residingabroad);

ii) any partnership or corporation organised orincorporated under the laws of the United States;

iii) any estate of which any executor or administrator isa U.S. person;

iv) any trust of which any trustee is a U.S. person;

BNY Mellon Global Funds, plc – Definitions 13

v) any agency or branch of a non-U.S. entity located inthe United States;

vi) any non-discretionary account or similar account(other than an estate or trust) held by a dealer orother fiduciary for the benefit or account of a U.S.person;

vii) any discretionary account or similar account (otherthan an estate or trust) held by a dealer or otherfiduciary organised, incorporated or (if an individual)resident in the United States;

and

viii) any partnership or corporation if:

1) organised or incorporated under the laws of anynon-U.S. jurisdiction;

and

2) formed by a U.S. person principally for thepurpose of investing in securities not registeredunder the Securities Act, unless it is organisedor incorporated, and owned, by accreditedinvestors (as defined in Rule 501(a) ofRegulation D under the Securities Act) who arenot natural persons, estates or trusts.

Notwithstanding the preceding paragraph, “U.S. person”under Rule 902 does not include:

i) any discretionary account or similar account (otherthan an estate or trust) held for the benefit oraccount of a non-U.S. person by a dealer or otherprofessional fiduciary organised, incorporated, or (ifan individual) resident in the United States;

ii) any estate of which any professional fiduciary actingas executor or administrator is a U.S. person, if

1) an executor or administrator of the estate whois not a U.S. person has sole or sharedinvestment discretion with respect to the assetsof the estate,

and

2) the estate is governed by non-United Stateslaw;

iii) any trust of which any professional fiduciary actingas trustee is a U.S. person, if a trustee who is not aU.S. person has sole or shared investmentdiscretion with respect to the trust assets, and nobeneficiary of the trust (and no settler if the trust isrevocable) is a U.S. person;

iv) an employee benefit plan established andadministered in accordance with the law of acountry other than the United States and customarypractices and documentation of such country;

v) any agency or branch of a U.S. person locatedoutside the United States if

1) the agency or branch operates for validbusiness reasons,

and

2) the agency or branch is engaged in thebusiness of insurance or banking and is subjectto substantive insurance or banking regulation,respectively, in the jurisdiction where located;

and

vi) certain international organisations as specified inRule 902(k) (2) (vi) of Regulation S under theSecurities Act.

CFTC Rule 4.7 currently provides in the relevant part thatthe following persons are considered “Non-United Statespersons”:

c) a natural person who is not a resident of the UnitedStates;

d) a partnership, corporation or other entity, other than anentity organised principally for passive investment,organised under the laws of a non-U.S. jurisdiction andwhich has its principal place of business in a non-U.S.jurisdiction;

e) an estate or trust, the income of which is not subject toUnited States income tax regardless of source;

f) an entity organised principally for passive investmentsuch as a pool, investment company or other similarentity, provided that units of participation in the entityheld by persons who do not qualify as Non-UnitedStates persons or otherwise as qualified eligible persons(as defined in CFTC Rule 4.7(a) (2) or (3)) represent in theaggregate less than ten per cent. of the beneficialinterest in the entity, and that such entity was not formedprincipally for the purpose of facilitating investment bypersons who do not qualify as Non-United Statespersons in a pool with respect to which the operator isexempt from certain requirements of Part 4 of theCFTC’s regulations by virtue of its participants being non-United States persons;

or

g) a pension plan for the employees, officers or principals ofan entity organised and with its principal place ofbusiness outside the United States

Q “United States”the United States of America (including the states thereof andthe District of Columbia), its territories, its possessions andother areas subject to its jurisdiction

Q “Valuation Day”such day or days as specified in the relevant Supplement foreach Sub-Fund

Q “Valuation Point”such time on each Valuation Day as specified in the relevantSupplement for each Sub-Fund

In this Prospectus, unless otherwise specified, all referencesto:“trillion” are to one thousand billion;“billion” are to one thousand million;“USD” or “dollars” or “US$” or “cents” are to United Statesdollars or cents;“EUR” or “euros” or “€” are to the euro;“GBP” or “sterling” or “Stg£” or “£” are to British poundssterling;“JPY” or “yen” or “¥” are to Japanese yen;“AUD” or “A$” are to Australian dollars;“SGD” or “S$” are to Singapore dollars;“HKD” or “HK$” are to Hong Kong dollars;“SEK” or “KR” are to Swedish Krona;“CHF” or “FR” are to Swiss Francs; and“CAD” or C$ are to Canadian dollars.

“CNH” or “renminbi” are to the offshore renminbi marketcurrency. “Renminbi” is the official currency of the People’sRepublic of China, used to denote the Chinese currencytraded in the onshore and offshore markets. All references inthis Prospectus to CNH or renminbi should be interpreted asreferences to the offshore renminbi market currency (CNH).

14 BNY Mellon Global Funds, plc – Definitions

THE COMPANY

Establishment and DurationThe Company was incorporated on 27 November 2000 under thelaws of Ireland as an open-ended umbrella type investmentcompany with variable capital and limited liability. The Companywas authorised by the Central Bank on 14 March 2001 pursuantto the UCITS Regulations. The Company’s share capital is at alltimes equal to the Net Asset Value of the Company. There existssegregated liability between the Sub-Funds of the Company.

Although the Company has an unlimited life, it may at any time, bygiving not less than four nor more than twelve weeks’ notice tothe Shareholders, expiring on a Valuation Day, repurchase at theRepurchase Price prevailing on such Valuation Day all (but notsome of) the Shares in each or any Sub-Fund then outstanding.

StructureThe Company is an umbrella type collective investment vehicleconsisting of multiple Sub-Funds.

Additional Sub-Funds may, with the prior approval of the CentralBank, be created by the Directors. The name of each Sub-Fund,the terms and conditions of its initial offer of Shares, details of itsinvestment objectives, policies and restrictions and of anyapplicable fees and expenses shall be set out in the Supplementsto this Prospectus. This Prospectus may only be issued with oneor more Supplements, each containing specific information relatingto a particular Sub-Fund. This Prospectus and the relevantSupplement should be read and construed as a single document.Supplements may be added to, or removed from, this Prospectusfrom time to time as Sub-Funds are approved by the Central Bankor have such approval withdrawn, as the case may be. Thefollowing are the current Sub-Funds of the Company:

BNY Mellon Asian Equity FundBNY Mellon Small Cap Euroland FundBNY Mellon Global Bond FundBNY Mellon Global Emerging Markets Equity Value Fund*BNY Mellon Global Equity FundBNY Mellon Global High Yield Bond FundBNY Mellon Global Opportunities FundBNY Mellon Pan European Equity Fund*BNY Mellon S&P 500® Index TrackerBNY Mellon U.S. Dynamic Value FundBNY Mellon Euroland Bond FundBNY Mellon Emerging Markets Debt FundBNY Mellon Emerging Markets Debt Local Currency FundBNY Mellon Brazil Equity FundBNY Mellon Long-Term Global Equity FundBNY Mellon Global Property Securities Fund*BNY Mellon Emerging Markets Equity Fund*BNY Mellon Global Real Return Fund (USD)BNY Mellon Global Real Return Fund (EUR)BNY Mellon Global Opportunistic Bond FundBNY Mellon Global Equity Income FundBNY Mellon Global Dynamic Bond FundBNY Mellon Absolute Return Equity FundBNY Mellon Emerging Markets Local Currency Investment GradeDebt Fund*BNY Mellon Emerging Markets Corporate Debt FundBNY Mellon Absolute Return Bond FundBNY Mellon European Credit FundBNY Mellon Global Real Return Fund (GBP)BNY Mellon Emerging Markets Equity Core Fund*BNY Mellon Global Emerging Markets Fund

BNY Mellon Emerging Markets Debt Opportunistic FundBNY Mellon Crossover Credit Fund*BNY Mellon Japan Small Cap Equity Focus FundBNY Mellon Japan All Cap Equity FundBNY Mellon Asian Income FundBNY Mellon US Opportunities FundBNY Mellon Absolute Insight FundBNY Mellon Asian Bond Fund*BNY Mellon Dynamic Total Return FundBNY Mellon Alpha Equity Select FundBNY Mellon Global Leaders FundBNY Mellon Targeted Return Bond FundBNY Mellon Global Credit FundBNY Mellon Asia Rising Stars FundBNY Mellon U.S. Equity Income FundBNY Mellon Global Short-Dated High Yield Bond FundBNY Mellon Japan REIT Alpha FundBNY Mellon U.S. Municipal Infrastructure Debt FundBNY Mellon Dynamic U.S. Equity FundBNY Mellon Global Unconstrained FundBNY Mellon Global Multi-Asset Income FundBNY Mellon U.S. High Yield Beta FundBNY Mellon Emerging Markets Debt Total Return Fund

* Please note that these Sub-Funds are closed to subscriptionsand are pending revocation from the Central Bank. Please see therelevant Supplements for further information.

The Directors may, whether on the establishment of a Sub-Fundor from time to time create more than one class of Shares in eachSub-Fund that may differ as to certain matters including:

a) subscription amounts,

b) fees and expenses,

c) designated currencies,

and/or

d) different distribution policies, as the Directors may determinemay be applicable.

The classes of Share established in each Sub-Fund shall be setout in the relevant Supplement to the Prospectus. Separate poolsof assets will not be maintained for each class. The creation offurther classes must be effected in accordance with therequirements of the Central Bank.

The Directors may close some or all of the Share classes in theSub-Fund to subscriptions from existing and/or new Shareholdersif the assets attributable to the Sub-Fund are at a level, abovewhich, as determined by the Directors, it is not in the bestinterests of Shareholders to accept further subscriptions – forinstance where the size of the Sub-Fund may constrain the abilityof the Investment Manager to meet the investment objective.

The Directors may subsequently re-open some or all of the Shareclasses in the Sub-Fund to further subscriptions from existingand/or new Shareholders at their discretion and the process ofclosing and potentially, re-opening the Share classes may berepeated thereafter as the Directors may determine from time totime.

Shareholders may ascertain the closed or open status of theShare classes and if those Share classes are open to existingand/or new Shareholders by contacting the Administrator. Closingthe Share classes to new subscriptions from existing and/or newShareholders will not affect the redemption rights of Shareholders.

BNY Mellon Global Funds, plc – The Company 15

Certain classes of Shares are intended for certain types ofinvestors (see details of the share classes in the table below).

Subscriptions from other types of investors may be acceptedwhere the Directors reasonably believe the investor can subscribean amount in excess of the applicable Minimum Initial Investmentand may be subject to minimum account maintenance or otherqualification established from time to time by the Directors.

Initial subscriptions for many classes of Shares are subject to aMinimum Initial Investment. Please see the relevant Supplementfor any applicable Minimum Initial Investment. Such amounts maybe waived from time to time by the Directors.

Description of for whom the ShareClasses are intended:

Share Classes

Financial intermediaries acting on behalf oftheir clients, who do not charge their clientsdirectly for the investment advice theyprovide. A distribution fee (commission) orrebate of the annual management chargemay be paid by the Manager where agreedand permitted under applicable law

A, H (hedged), R, R(hedged)

Financial intermediaries acting on behalf oftheir clients, who charge their clients directlyfor the investment advice they provide. Adistribution fee (commission) or rebate of theannual management charge may be paid bythe Manager where agreed and permittedunder applicable law

B, J (hedged)

Financial intermediaries acting on behalf oftheir client who charge their clients directlyfor the investment advice they provide. Adistribution fee (commission) or rebate of theannual management charge may be paid bythe Manager where agreed and permittedunder applicable law

C, I (hedged), S, T(hedged)

Any non-intermediated investors

or

Financial intermediaries who charge theirclients directly for the portfolio managementor investment advice they provide and whoeither do not accept or are prohibited fromreceiving and retaining third-party payments(distribution fee (commission) or rebate)under applicable law

D, D (hedged)

G, G (hedged)

Description of for whom the ShareClasses are intended:

Share Classes

Non-intermediated Institutional Investors

or

Financial intermediaries who charge theirclients directly for the portfolio managementor investment advice they provide and whoeither do not accept or are prohibited fromreceiving and retaining third-party payments(distribution fee (commission) or rebate)under applicable law

W, W (hedged), U, U(hedged)

Z, Z (hedged)

Share classes which may be offered toinvestors who at the time of subscription areclients of the Manager or of an associate ofthe Manager within The Bank of New YorkMellon Corporation Group.

Holdings in these share classes may besubject to minimum account maintenanceestablished from time to time by theDirectors. In particular, the Directors maydetermine that once the total Net AssetValue of these share classes reaches orexceeds a particular amount that theseshare classes be closed to furtherinvestment. Notwithstanding the foregoing,these share classes may be made availablefor subsequent subscriptions by existingShareholders in the share class at the solediscretion of the Directors.

E, E (hedged), F, F(hedged)

Share classes which may be offered toinvestors who have agreed specific terms ofbusiness with the Manager or with anassociate of the Manager within The Bankof New York Mellon Corporation Group, andin respect of which the Directors deem itappropriate for such investor to invest in theshare class.

These Share classes are designed, amongother things, to accommodate an alternativecharging structure under which the investoris charged management fees directly by theManager or its relevant associate.Accordingly, no annual management feesare payable in respect of X Shares out ofthe net assets of the relevant Sub-Fund

X, X (hedged)

Investors subscribing for Shares with an initial offer price of greaterthan 1.00 currency unit will receive a lower number of individualShares for the amount subscribed, and thus will be entitled tofewer votes at shareholder meetings, than if they invested in otherclasses. This will not, however, impact on the performance of theinvestors’ investment.

Investment in any class of Shares shall, in all cases, be subject tothe restrictions set out in the Prospectus under the heading“Restrictions on Ownership, Compulsory Repurchase and Transferof Shares”.

Any additional criteria/details specific to investing in classes in anyparticular Sub-Fund will be set out in the relevant Supplement.

The Directors have the right in their sole discretion to waive anyshare class restriction at any time.

Subscriptions for the Shares of each Sub-Fund should be in thedenominated currency of the relevant class. Subscription,redemption or distribution money paid or received in respect of aclass denominated in a currency other than the denominatedcurrency of the class, will be converted by the Administrator or adelegate of the Company into or out of the denominated currencyof the class at an exchange rate deemed appropriate by theAdministrator or a delegate of the Company and suchsubscription, redemption or distribution money shall be deemed tobe in the amounts so converted. The cost of the conversion willbe borne by the relevant Shareholder.

16 BNY Mellon Global Funds, plc – The Company

The assets and liabilities of the Company shall be allocated toeach Sub-Fund in the following manner:

a) for each Sub-Fund, the Company shall keep separate booksand records in which all transactions relating to the relevantSub-Fund shall be recorded and, in particular, the proceedsfrom the issue of Shares in each Sub-Fund shall be applied inthe books of the Company to that Sub-Fund, and the assetsand liabilities and income and expenditure attributable theretoshall be applied to such Sub-Fund subject to the provisionsbelow;

b) any asset derived from another asset of a Sub-Fund shall beapplied in the books of the relevant Sub-Fund as the assetfrom which it was derived and on each valuation of an asset,the increase or diminution in value thereof shall be applied tothe relevant Sub-Fund;

c) where the Company incurs a liability which relates to anyasset of a particular Sub-Fund or to any action taken inconnection with an asset of a particular Sub-Fund, suchliability shall be allocated to the relevant Sub-Fund;

d) in the case where an asset or a liability of the Companycannot be considered as being attributable to a particularSub-Fund, the Directors shall have the discretion subject tothe approval of the auditors (such approval not to beunreasonably withheld or delayed) to determine the basisupon which such asset or liability shall be allocated betweenthe Sub-Funds and the Directors shall have power at anytime and from time to time subject to the approval of theauditors (such approval not to be unreasonably withheld ordelayed) to vary such basis provided that the approval of theauditors shall not be required in any case where such assetor liability is allocated to all the Sub-Funds pro rata to theirrespective net asset values at the time when the allocation ismade; provided that all liabilities shall (in the event of awinding up of the Company or a repurchase of all of theShares of the Sub-Fund), be binding only on the relevantSub-Fund to which they are attributable.

Operation of Cash AccountsCash accounts designated in different currencies have beenestablished at umbrella level into which subscription moniesreceived from investors of all of the Sub-Funds shall be lodgedand from which redemption monies payable to Shareholders willbe paid. All subscriptions, redemptions or dividends payable to orfrom the relevant Sub-Fund will be channelled and managedthrough such umbrella cash accounts and no such accounts shallbe operated at the level of each individual Sub-Fund. However theCompany will ensure that all monies in any such umbrella fundcash account are recorded in the books and records of theCompany as assets of, and attributable to, the relevant Sub-Fundin accordance with the requirements of the Articles of theCompany.

Further information relating to such accounts is set out in thesections below entitled

a) “Application for Shares – Operation of Cash Accounts”;

b) “Repurchase of Shares - “Operation of Cash Accounts”;

and

c) “Distribution Policy” respectively. In addition, your attention isdrawn to the section of the Prospectus entitled “Risk Factors”–“Operation of Umbrella Cash Accounts” below.

Investment Objectives and PoliciesThe assets of each Sub-Fund will be invested separately inaccordance with the investment objectives and policies of therelevant Sub-Fund which are set out in the relevant Supplementsto this Prospectus.

The investment return to Shareholders in a particular Sub-Fund isrelated to the Net Asset Value of a Sub-Fund which in turn isprimarily determined by the performance of the portfolio ofinvestments held by that Sub-Fund over the relevant period oftime.

The Company and each Sub-Fund may hold ancillary liquid assetsincluding cash deposits and money market instruments atinvestment grade or above (rated by Standard & Poor’s, Moody'sor an equivalent recognised rating agency), e.g. certificates ofdeposit, commercial paper and listed fixed interest securities(including government and non-government notes and bonds) orat such other rating as the relevant Investment Manager deemsequivalent.

Where the Shares of a particular Sub-Fund have been listed onthe Irish Stock Exchange, the Directors will ensure that, in theabsence of unforeseen circumstances, the relevant Sub-Fund willadhere to the material investment objective and policies for thatSub-Fund for at least three years following the admission of theShares to the Official List and to trading on the Main SecuritiesMarket of the Irish Stock Exchange.

The Company shall not make any change to the investmentobjective or any material change to the investment policy, each asdisclosed in the relevant Supplement, unless Shareholders of therelevant Sub-Fund have, in advance, on the basis of a simplemajority of votes cast at a general meeting or with the prior writtenapproval of all Shareholders of the relevant Sub-Fund (inaccordance with the Articles), approved the relevant change(s).

Not less than 21 clear days’ prior written notice (or such otherperiod as the Securities and Futures Commission in Hong Kong(“SFC”) may require) will be given to affected Shareholders of sucha meeting if the Sub-Fund is registered with the SFC.

The Company shall provide all Shareholders of the relevant Sub-Fund with reasonable notice of the change(s) in the event of anychange to the investment objective or any material change to theinvestment policy, each as disclosed in the relevant Supplement.In the event of a change of the investment objectives, policy,restrictions and/or powers of any Sub-Fund authorised by theSFC which do not require Shareholder approval, not less than onemonth’s prior written notice (or such other period as the SFC mayrequire) will be given to affected Shareholders in respect of suchchanges.

Investors should be aware that the performance of certain Sub-Funds may be measured against a specified index or benchmarkand in this regard Shareholders are directed towards the relevantSupplement which will refer to any relevant performancemeasurement criteria. The Company may at any time change thatreference index where, for reasons outside its control, that indexhas been replaced, or another index or benchmark mayreasonably be considered by the Company to have become theappropriate standard for the relevant exposure. Any change to theindex or benchmark will be disclosed in the annual or half yearlyreport of the Company subsequent to the change.

There can be no guarantee any Sub-Fund will achieve itsinvestment objective.

Investment and Borrowing RestrictionsWithin each Sub-Fund’s investment policies, the followingrestrictions shall apply. The Directors may impose furtherinvestment restrictions in respect of each Sub-Fund as set out inthe relevant Supplement hereto.

1. Permitted Investments

Investments of a UCITS are confined to:

1.1 Transferable securities and money market instrumentswhich are either admitted to official listing on a stockexchange in a Member State or non-Member State or

BNY Mellon Global Funds, plc – The Company 17

which are dealt on a market which is regulated, operatesregularly, is recognised and open to the public in aMember State or non-Member State.

1.2 Recently issued transferable securities which will beadmitted to official listing on a stock exchange or othermarket (as described above) within a year.

1.3 Money market instruments, other than those dealt on aneligible market.

1.4 Shares of UCITS.

1.5 Shares of AIFs.

1.6 Deposits with credit institutions.

1.7 Financial derivative instruments.

2. Investment Restrictions

2.1 A UCITS may invest no more than 10% of net assets intransferable securities and money market instrumentsother than those referred to in paragraph 1..

2.2 Recently Issued Transferable Securities:

Subject to paragraph (2) a responsible person shallnot invest any more than 10% of assets of a UCITS insecurities of the type to which Regulation 68(1) (d) ofthe UCITS Regulations apply.

Paragraph (1) does not apply to an investment by aresponsible person in US Securities known as “Rule144 A securities” provided that;

a) the relevant securities have been issued with anundertaking to register the securities with the SECwithin 1 year of issue; and

b) the securities are not illiquid securities i.e. they maybe realised by the UCITS within 7 days at the price,or approximately at the price, which they are valuedby the UCITS.

2.3 A UCITS may invest no more than 10% of net assets intransferable securities or money market instrumentsissued by the same body provided that the total value oftransferable securities and money market instrumentsheld in the issuing bodies in each of which it investsmore than 5% is less than 40%.

2.4 Subject to the prior approval of the Central Bank, thelimit of 10% (in 2.3) is raised to 25% in the case ofbonds that are issued by a credit institution which has itsregistered office in a Member State and is subject by lawto special public supervision designed to protect bond-holders. If a UCITS invests more than 5% of its netassets in these bonds issued by one issuer, the totalvalue of these investments may not exceed 80% of thenet asset value of the UCITS.

2.5 The limit of 10% (in 2.3) is raised to 35% if thetransferable securities or money market instruments areissued or guaranteed by a Member State or its localauthorities or by a non-Member State or publicinternational body of which one or more Member Statesare members.

2.6 The transferable securities and money marketinstruments referred to in 2.4 and 2.5 shall not be takeninto account for the purpose of applying the limit of 40%referred to in 2.3.

2.7 Deposits with any single credit institution, other than acredit institution specified in Regulation 7 of the CentralBank Regulations 2015 held as ancillary liquidity shall notexceed:

a) 10% of the net asset value of the UCITS; or

b) 20% of the net asset value of the UCITS where thedeposit is made with the Depositary

2.8 The risk exposure of a UCITS to a counterparty to anOTC derivative may not exceed 5% of net assets.

This limit is raised to 10% in the case of creditinstitutions authorised in the EEA or credit institutionsauthorised within a signatory state (other than an EEAMember State) to the Basle Capital ConvergenceAgreement of July 1988; or a credit institutionauthorised in Jersey, Guernsey, Isle of Man, Australiaor New Zealand.

2.9 Notwithstanding paragraphs 2.3, 2.7 and 2.8 above, acombination of two or more of the following issued by, ormade or undertaken with, the same body may notexceed 20% of net assets:

– investments in transferable securities or moneymarket instruments;

– deposits, and/or

– risk exposures arising from OTC derivativestransactions.

2.10 The limits referred to in 2.3, 2.4, 2.5, 2.7, 2.8 and 2.9above may not be combined, so that exposure to asingle body shall not exceed 35% of net assets.

2.11 Group companies are regarded as a single issuer for thepurposes of 2.3, 2.4, 2.5, 2.7, 2.8 and 2.9. However, alimit of 20% of net assets may be applied to investmentin transferable securities and money market instrumentswithin the same group.

2.12 A UCITS may invest up to 100% of net assets in differenttransferable securities and money market instrumentsissued or guaranteed by any Member State, its localauthorities, non-Member States or public internationalbody of which one or more Member States aremembers, drawn from the following list: OECD countries,Government of the People’s Republic of China,Government of Singapore, Government of Brazil(provided the issues are investment grade), Governmentof India (provided the issues are investment grade),European Investment Bank, European Bank forReconstruction and Development, International FinanceCorporation, International Monetary Fund, Euratom, TheAsian Development Bank, Council of Europe, Eurofima,African Development Bank, The International Bank forReconstruction and Development, The World Bank, TheInter-American Development Bank, European CentralBank, European Union, Federal National MortgageAssociation (Fannie Mae), Federal Home Loan MortgageCorporation (Freddie Mac), Government NationalMortgage Association (Ginnie Mae), Student LoanMarketing Association (Sallie Mae), Federal Home LoanBank, Federal Farm Credit Bank, Tennessee ValleyAuthority, Export-Import Bank and Straight-A FundingLLC.

2.13 The UCITS must hold securities from at least 6 differentissues, with securities from any one issue not exceeding30% of net assets.

3. Investment in Collective Investment Schemes (“CIS”)

3.1 A UCITS may not invest more than 20% of net assets inany one CIS.

3.2 Investment in AIFs may not, in aggregate, exceed 30%of net assets.

3.3 The CIS are prohibited from investing more than 10% ofnet assets in other open-ended CIS.

18 BNY Mellon Global Funds, plc – The Company

3.4 When a UCITS invests in the Shares of other CIS thatare managed, directly or by delegation, by the UCITSmanagement company or by any other company withwhich the UCITS management company is linked bycommon management or control, or by a direct orindirect holding of more than 10% of the share capital orof the votes, that management company or othercompany shall not charge management, subscription,conversion or redemption fees on account of the UCITSinvestment in the Shares of such other CIS.

3.5 Where by virtue of investment in the shares of anotherinvestment fund, the Manager, an Investment Manager oran Investment Advisor receives a commission on behalfof the UCITS (including a rebated commission), theManager shall ensure that the relevant commission ispaid into the property of the UCITS.

3.6 Investment by a Sub-Fund in another Sub-Fund of theCompany is subject to the following additional provisions:

– Investment must not be made in a Sub-Fund whichitself holds shares in other Sub-Funds within theCompany;

and

– The investing Sub-Fund may not charge an annualmanagement fee in respect of that portion of itsassets invested in other Sub-Funds within theCompany (whether such fee is paid directly at theinvesting fund level, indirectly at the receiving fundlevel or a combination of both), such that there shallbe no double charging of the annual managementfee to the investing Sub-Fund as a result ofinvestments in the receiving Sub-Fund. Thisprovision is also applicable to the annual feecharged by an Investment Manager where such feeis paid directly out of the assets of the Sub-Fund.

4. Index Tracking UCITS

4.1 A UCITS may invest up to 20% of net assets in sharesand/or debt securities issued by the same body wherethe investment policy of the UCITS is to replicate anindex which satisfies the criteria set out in the CentralBank UCITS Regulations 2015 and is recognised by theCentral Bank

4.2 The limit in 4.1 may be raised to 35%, and applied to asingle issuer, where this is justified by exceptional marketconditions.

5. General Provisions

5.1 An investment company, or management companyacting in connection with all of the CIS it manages, maynot acquire any shares carrying voting rights whichwould enable it to exercise significant influence over themanagement of an issuing body.

5.2 A UCITS may acquire no more than:

a) 10% of the non-voting shares of any single issuingbody;

b) 10% of the debt securities of any single issuingbody;

c) 25% of the Shares of any single investment fund;

d) 10% of the money market instruments of any singleissuing body.

NOTE: The limits laid down in 5.2b), 5.2c) and 5.2d)above may be disregarded at the t