BNY MELLON NEW JERSEY MUNICIPAL BOND FUND, INC.
BNY MELLON APRECIATION FUND, INC.
BNY MELLON INVESTMENT FUNDS III
BNY Mellon High Yield Fund
BNY MELLON INVESTMENT FUNDS I
BNY Mellon Global Fixed Income Fund
BNY MELLON INVESTMENT FUNDS V, INC.
BNY Mellon Large Cap Equity Fund
BNY Mellon Large Cap Growth Fund
BNY MELLON INVESTMENT PORTFOLIOS
Core Value Portfolio
MicCap Stock Portfolio
Small Cap Stock Index Portfolio
Technology Growth Portfolio
BNY MELLON LARGE CAP SECURITIES FUND, INC.
BNY MELLON STOCK INDEX FUND, INC.
BNY MELLON STRATEGIC FUNDS, INC.
BNY Mellon Active MidCap Fund
BNY MELLON SUSTAINABLE U.S. EQUITY PORTFOLIO, INC.
BNY MELLON VARIABLE INVESTMENT FUND
Appreciation Portfolio
Government Money Market Portfolio
Growth and Income Portfolio
International Equity Portfolio
International Value Portfolio
Opportunistic Small Cap Portfolio
Quality Bond Portfolio
DREYFUS LIQUID ASSETS, INC.
Incorporated herein by reference is a supplement to the above-referenced funds' prospectuses filed pursuant to Rule 497(e) under the Securities Act of 1933, as amended, on March 19, 2020 (SEC Accession No. 0000053808-20-000026).
| Label | Element | Value |
|---|---|---|
| BNY MELLON APPRECIATION FUND, INC. | BNY Mellon Appreciation Fund, Inc. | ||
| Risk/Return: | rr_RiskReturnAbstract | |
| Supplement to Prospectus [Text Block] | rr_SupplementToProspectusTextBlock | March 19, 2020 BNY MELLON FAMILY OF FUNDS Supplement to Current Summary Prospectus and Prospectus |
| Risk/Return [Heading] | rr_RiskReturnHeading | BNY Mellon Appreciation Fund, Inc. |
| Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | The following information supplements the information in the sections entitled "Principal Investment Risks" in the summary prospectus and "Fund Summary - Principal Risks" and "Fund Details - Investment Risks" in the prospectus: Market risk. The value of the securities in which the fund invests may be affected by political, regulatory, economic and social developments, and developments that impact specific economic sectors, industries or segments of the market. In addition, turbulence in financial markets and reduced liquidity in equity, credit and/or fixed income markets may negatively affect many issuers, which could adversely affect the fund. Global economies and financial markets are becoming increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide. Recent examples include pandemic risks related to COVID-19 and aggressive measures taken worldwide in response by governments, including closing borders, restricting international and domestic travel, and the imposition of prolonged quarantines of large populations, and by businesses, including changes to operations and reducing staff. The effects of COVID-19 have contributed to increased volatility in global markets and will likely affect certain countries, companies, industries and market sectors more dramatically than others. The COVID-19 pandemic has had, and any other outbreak of an infectious disease or other serious public health concern could have, a significant negative impact on economic and market conditions and could trigger a prolonged period of global economic slowdown. To the extent the fund may overweight its investments in certain countries, companies, industries or market sectors, such positions will increase the fund's exposure to risk of loss from adverse developments affecting those countries, companies, industries or sectors. |
| Label | Element | Value |
|---|---|---|
| BNY MELLON INVESTMENT PORTFOLIOS | Core Value Portfolio | ||
| Risk/Return: | rr_RiskReturnAbstract | |
| Supplement to Prospectus [Text Block] | rr_SupplementToProspectusTextBlock | March 19, 2020 BNY MELLON FAMILY OF FUNDS Supplement to Current Summary Prospectus and Prospectus |
| Risk/Return [Heading] | rr_RiskReturnHeading | Core Value Portfolio |
| Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | The following information supplements the information in the sections entitled "Principal Investment Risks" in the summary prospectus and "Fund Summary - Principal Risks" and "Fund Details - Investment Risks" in the prospectus: Market risk. The value of the securities in which the fund invests may be affected by political, regulatory, economic and social developments, and developments that impact specific economic sectors, industries or segments of the market. In addition, turbulence in financial markets and reduced liquidity in equity, credit and/or fixed income markets may negatively affect many issuers, which could adversely affect the fund. Global economies and financial markets are becoming increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide. Recent examples include pandemic risks related to COVID-19 and aggressive measures taken worldwide in response by governments, including closing borders, restricting international and domestic travel, and the imposition of prolonged quarantines of large populations, and by businesses, including changes to operations and reducing staff. The effects of COVID-19 have contributed to increased volatility in global markets and will likely affect certain countries, companies, industries and market sectors more dramatically than others. The COVID-19 pandemic has had, and any other outbreak of an infectious disease or other serious public health concern could have, a significant negative impact on economic and market conditions and could trigger a prolonged period of global economic slowdown. To the extent the fund may overweight its investments in certain countries, companies, industries or market sectors, such positions will increase the fund's exposure to risk of loss from adverse developments affecting those countries, companies, industries or sectors. |
| Label | Element | Value |
|---|---|---|
| BNY MELLON INVESTMENT PORTFOLIOS | Small Cap Stock Index Portfolio | ||
| Risk/Return: | rr_RiskReturnAbstract | |
| Supplement to Prospectus [Text Block] | rr_SupplementToProspectusTextBlock | March 19, 2020 BNY MELLON FAMILY OF FUNDS Supplement to Current Summary Prospectus and Prospectus |
| Risk/Return [Heading] | rr_RiskReturnHeading | Small Cap Stock Index Portfolio |
| Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | The following information supplements the information in the sections entitled "Principal Investment Risks" in the summary prospectus and "Fund Summary - Principal Risks" and "Fund Details - Investment Risks" in the prospectus: Market risk. The value of the securities in which the fund invests may be affected by political, regulatory, economic and social developments, and developments that impact specific economic sectors, industries or segments of the market. In addition, turbulence in financial markets and reduced liquidity in equity, credit and/or fixed income markets may negatively affect many issuers, which could adversely affect the fund. Global economies and financial markets are becoming increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide. Recent examples include pandemic risks related to COVID-19 and aggressive measures taken worldwide in response by governments, including closing borders, restricting international and domestic travel, and the imposition of prolonged quarantines of large populations, and by businesses, including changes to operations and reducing staff. The effects of COVID-19 have contributed to increased volatility in global markets and will likely affect certain countries, companies, industries and market sectors more dramatically than others. The COVID-19 pandemic has had, and any other outbreak of an infectious disease or other serious public health concern could have, a significant negative impact on economic and market conditions and could trigger a prolonged period of global economic slowdown. To the extent the fund may overweight its investments in certain countries, companies, industries or market sectors, such positions will increase the fund's exposure to risk of loss from adverse developments affecting those countries, companies, industries or sectors. |
| Label | Element | Value |
|---|---|---|
| BNY Mellon Investment Funds III | BNY Mellon High Yield Fund | ||
| Risk/Return: | rr_RiskReturnAbstract | |
| Supplement to Prospectus [Text Block] | rr_SupplementToProspectusTextBlock | March 19, 2020 BNY MELLON FAMILY OF FUNDS Supplement to Current Summary Prospectus and Prospectus |
| Risk/Return [Heading] | rr_RiskReturnHeading | BNY Mellon High Yield Fund |
| Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | The following information supplements the information in the sections entitled "Principal Investment Risks" in the summary prospectus and "Fund Summary - Principal Risks" and "Fund Details - Investment Risks" in the prospectus: Market risk. The value of the securities in which the fund invests may be affected by political, regulatory, economic and social developments, and developments that impact specific economic sectors, industries or segments of the market. In addition, turbulence in financial markets and reduced liquidity in equity, credit and/or fixed income markets may negatively affect many issuers, which could adversely affect the fund. Global economies and financial markets are becoming increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide. Recent examples include pandemic risks related to COVID-19 and aggressive measures taken worldwide in response by governments, including closing borders, restricting international and domestic travel, and the imposition of prolonged quarantines of large populations, and by businesses, including changes to operations and reducing staff. The effects of COVID-19 have contributed to increased volatility in global markets and will likely affect certain countries, companies, industries and market sectors more dramatically than others. The COVID-19 pandemic has had, and any other outbreak of an infectious disease or other serious public health concern could have, a significant negative impact on economic and market conditions and could trigger a prolonged period of global economic slowdown. To the extent the fund may overweight its investments in certain countries, companies, industries or market sectors, such positions will increase the fund's exposure to risk of loss from adverse developments affecting those countries, companies, industries or sectors. |
Mar. 19, 2020 |
|---|
| BNY MELLON VARIABLE INVESTMENT FUND | International Equity Portfolio |
| International Equity Portfolio |
March 19, 2020 BNY MELLON FAMILY OF FUNDS Supplement to Current Summary Prospectus and Prospectus |
The following information supplements the information in the sections entitled "Principal Investment Risks" in the summary prospectus and "Fund Summary - Principal Risks" and "Fund Details - Investment Risks" in the prospectus: Market risk. The value of the securities in which the fund invests may be affected by political, regulatory, economic and social developments, and developments that impact specific economic sectors, industries or segments of the market. In addition, turbulence in financial markets and reduced liquidity in equity, credit and/or fixed income markets may negatively affect many issuers, which could adversely affect the fund. Global economies and financial markets are becoming increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide. Recent examples include pandemic risks related to COVID-19 and aggressive measures taken worldwide in response by governments, including closing borders, restricting international and domestic travel, and the imposition of prolonged quarantines of large populations, and by businesses, including changes to operations and reducing staff. The effects of COVID-19 have contributed to increased volatility in global markets and will likely affect certain countries, companies, industries and market sectors more dramatically than others. The COVID-19 pandemic has had, and any other outbreak of an infectious disease or other serious public health concern could have, a significant negative impact on economic and market conditions and could trigger a prolonged period of global economic slowdown. To the extent the fund may overweight its investments in certain countries, companies, industries or market sectors, such positions will increase the fund's exposure to risk of loss from adverse developments affecting those countries, companies, industries or sectors. |
Mar. 19, 2020 |
|---|
| BNY MELLON VARIABLE INVESTMENT FUND | Opportunistic Small Cap Portfolio |
| Opportunistic Small Cap Portfolio |
March 19, 2020 BNY MELLON FAMILY OF FUNDS Supplement to Current Summary Prospectus and Prospectus |
The following information supplements the information in the sections entitled "Principal Investment Risks" in the summary prospectus and "Fund Summary - Principal Risks" and "Fund Details - Investment Risks" in the prospectus: Market risk. The value of the securities in which the fund invests may be affected by political, regulatory, economic and social developments, and developments that impact specific economic sectors, industries or segments of the market. In addition, turbulence in financial markets and reduced liquidity in equity, credit and/or fixed income markets may negatively affect many issuers, which could adversely affect the fund. Global economies and financial markets are becoming increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide. Recent examples include pandemic risks related to COVID-19 and aggressive measures taken worldwide in response by governments, including closing borders, restricting international and domestic travel, and the imposition of prolonged quarantines of large populations, and by businesses, including changes to operations and reducing staff. The effects of COVID-19 have contributed to increased volatility in global markets and will likely affect certain countries, companies, industries and market sectors more dramatically than others. The COVID-19 pandemic has had, and any other outbreak of an infectious disease or other serious public health concern could have, a significant negative impact on economic and market conditions and could trigger a prolonged period of global economic slowdown. To the extent the fund may overweight its investments in certain countries, companies, industries or market sectors, such positions will increase the fund's exposure to risk of loss from adverse developments affecting those countries, companies, industries or sectors. |
Mar. 19, 2020 |
|---|
| BNY MELLON VARIABLE INVESTMENT FUND | Government Money Market Portfolio |
| Government Money Market Portfolio |
March 19, 2020 BNY MELLON FAMILY OF FUNDS Supplement to Current Summary Prospectus and Prospectus |
The following information supplements the information in the sections entitled "Principal Investment Risks" in the summary prospectus and "Fund Summary - Principal Risks" and "Fund Details - Investment Risks" in the prospectus: Market risk. The value of the securities in which the fund invests may be affected by political, regulatory, economic and social developments, and developments that impact specific economic sectors, industries or segments of the market. In addition, turbulence in financial markets and reduced liquidity in equity, credit and/or fixed income markets may negatively affect many issuers, which could adversely affect the fund. Global economies and financial markets are becoming increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide. Recent examples include pandemic risks related to COVID-19 and aggressive measures taken worldwide in response by governments, including closing borders, restricting international and domestic travel, and the imposition of prolonged quarantines of large populations, and by businesses, including changes to operations and reducing staff. The effects of COVID-19 have contributed to increased volatility in global markets and will likely affect certain countries, companies, industries and market sectors more dramatically than others. The COVID-19 pandemic has had, and any other outbreak of an infectious disease or other serious public health concern could have, a significant negative impact on economic and market conditions and could trigger a prolonged period of global economic slowdown. To the extent the fund may overweight its investments in certain countries, companies, industries or market sectors, such positions will increase the fund's exposure to risk of loss from adverse developments affecting those countries, companies, industries or sectors. |
| Label | Element | Value |
|---|---|---|
| BNY MELLON VARIABLE INVESTMENT FUND | Appreciation Portfolio | ||
| Risk/Return: | rr_RiskReturnAbstract | |
| Supplement to Prospectus [Text Block] | rr_SupplementToProspectusTextBlock | March 19, 2020 BNY MELLON FAMILY OF FUNDS Supplement to Current Summary Prospectus and Prospectus |
| Risk/Return [Heading] | rr_RiskReturnHeading | Appreciation Portfolio |
| Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | The following information supplements the information in the sections entitled "Principal Investment Risks" in the summary prospectus and "Fund Summary - Principal Risks" and "Fund Details - Investment Risks" in the prospectus: Market risk. The value of the securities in which the fund invests may be affected by political, regulatory, economic and social developments, and developments that impact specific economic sectors, industries or segments of the market. In addition, turbulence in financial markets and reduced liquidity in equity, credit and/or fixed income markets may negatively affect many issuers, which could adversely affect the fund. Global economies and financial markets are becoming increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide. Recent examples include pandemic risks related to COVID-19 and aggressive measures taken worldwide in response by governments, including closing borders, restricting international and domestic travel, and the imposition of prolonged quarantines of large populations, and by businesses, including changes to operations and reducing staff. The effects of COVID-19 have contributed to increased volatility in global markets and will likely affect certain countries, companies, industries and market sectors more dramatically than others. The COVID-19 pandemic has had, and any other outbreak of an infectious disease or other serious public health concern could have, a significant negative impact on economic and market conditions and could trigger a prolonged period of global economic slowdown. To the extent the fund may overweight its investments in certain countries, companies, industries or market sectors, such positions will increase the fund's exposure to risk of loss from adverse developments affecting those countries, companies, industries or sectors. |
| Label | Element | Value |
|---|---|---|
| BNY Mellon Investment Funds V, Inc. | BNY Mellon Large Cap Equity Fund | ||
| Risk/Return: | rr_RiskReturnAbstract | |
| Supplement to Prospectus [Text Block] | rr_SupplementToProspectusTextBlock | March 19, 2020 BNY MELLON FAMILY OF FUNDS Supplement to Current Summary Prospectus and Prospectus |
| Risk/Return [Heading] | rr_RiskReturnHeading | BNY Mellon Large Cap Equity Fund |
| Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | The following information supplements the information in the sections entitled "Principal Investment Risks" in the summary prospectus and "Fund Summary - Principal Risks" and "Fund Details - Investment Risks" in the prospectus: Market risk. The value of the securities in which the fund invests may be affected by political, regulatory, economic and social developments, and developments that impact specific economic sectors, industries or segments of the market. In addition, turbulence in financial markets and reduced liquidity in equity, credit and/or fixed income markets may negatively affect many issuers, which could adversely affect the fund. Global economies and financial markets are becoming increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide. Recent examples include pandemic risks related to COVID-19 and aggressive measures taken worldwide in response by governments, including closing borders, restricting international and domestic travel, and the imposition of prolonged quarantines of large populations, and by businesses, including changes to operations and reducing staff. The effects of COVID-19 have contributed to increased volatility in global markets and will likely affect certain countries, companies, industries and market sectors more dramatically than others. The COVID-19 pandemic has had, and any other outbreak of an infectious disease or other serious public health concern could have, a significant negative impact on economic and market conditions and could trigger a prolonged period of global economic slowdown. To the extent the fund may overweight its investments in certain countries, companies, industries or market sectors, such positions will increase the fund's exposure to risk of loss from adverse developments affecting those countries, companies, industries or sectors. |
| Label | Element | Value |
|---|---|---|
| BNY MELLON SUSTAINABLE U.S. EQUITY PORTFOLIO, INC. | BNY Mellon Sustainable U.S. Equity Portfolio, Inc. | ||
| Risk/Return: | rr_RiskReturnAbstract | |
| Supplement to Prospectus [Text Block] | rr_SupplementToProspectusTextBlock | March 19, 2020 BNY MELLON FAMILY OF FUNDS Supplement to Current Summary Prospectus and Prospectus |
| Risk/Return [Heading] | rr_RiskReturnHeading | BNY Mellon Sustainable U.S. Equity Portfolio, Inc. |
| Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | The following information supplements the information in the sections entitled "Principal Investment Risks" in the summary prospectus and "Fund Summary - Principal Risks" and "Fund Details - Investment Risks" in the prospectus: Market risk. The value of the securities in which the fund invests may be affected by political, regulatory, economic and social developments, and developments that impact specific economic sectors, industries or segments of the market. In addition, turbulence in financial markets and reduced liquidity in equity, credit and/or fixed income markets may negatively affect many issuers, which could adversely affect the fund. Global economies and financial markets are becoming increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide. Recent examples include pandemic risks related to COVID-19 and aggressive measures taken worldwide in response by governments, including closing borders, restricting international and domestic travel, and the imposition of prolonged quarantines of large populations, and by businesses, including changes to operations and reducing staff. The effects of COVID-19 have contributed to increased volatility in global markets and will likely affect certain countries, companies, industries and market sectors more dramatically than others. The COVID-19 pandemic has had, and any other outbreak of an infectious disease or other serious public health concern could have, a significant negative impact on economic and market conditions and could trigger a prolonged period of global economic slowdown. To the extent the fund may overweight its investments in certain countries, companies, industries or market sectors, such positions will increase the fund's exposure to risk of loss from adverse developments affecting those countries, companies, industries or sectors. |
Mar. 19, 2020 |
|---|
| BNY Mellon Large Cap Securities Fund, Inc. | BNY Mellon Large Cap Securities Fund, Inc. |
| BNY Mellon Large Cap Securities Fund, Inc. |
March 19, 2020 BNY MELLON FAMILY OF FUNDS Supplement to Current Summary Prospectus and Prospectus |
The following information supplements the information in the sections entitled "Principal Investment Risks" in the summary prospectus and "Fund Summary - Principal Risks" and "Fund Details - Investment Risks" in the prospectus: Market risk. The value of the securities in which the fund invests may be affected by political, regulatory, economic and social developments, and developments that impact specific economic sectors, industries or segments of the market. In addition, turbulence in financial markets and reduced liquidity in equity, credit and/or fixed income markets may negatively affect many issuers, which could adversely affect the fund. Global economies and financial markets are becoming increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide. Recent examples include pandemic risks related to COVID-19 and aggressive measures taken worldwide in response by governments, including closing borders, restricting international and domestic travel, and the imposition of prolonged quarantines of large populations, and by businesses, including changes to operations and reducing staff. The effects of COVID-19 have contributed to increased volatility in global markets and will likely affect certain countries, companies, industries and market sectors more dramatically than others. The COVID-19 pandemic has had, and any other outbreak of an infectious disease or other serious public health concern could have, a significant negative impact on economic and market conditions and could trigger a prolonged period of global economic slowdown. To the extent the fund may overweight its investments in certain countries, companies, industries or market sectors, such positions will increase the fund's exposure to risk of loss from adverse developments affecting those countries, companies, industries or sectors. |
Mar. 19, 2020 |
|---|
| BNY MELLON VARIABLE INVESTMENT FUND | Quality Bond Portfolio |
| Quality Bond Portfolio |
March 19, 2020 BNY MELLON FAMILY OF FUNDS Supplement to Current Summary Prospectus and Prospectus |
The following information supplements the information in the sections entitled "Principal Investment Risks" in the summary prospectus and "Fund Summary - Principal Risks" and "Fund Details - Investment Risks" in the prospectus: Market risk. The value of the securities in which the fund invests may be affected by political, regulatory, economic and social developments, and developments that impact specific economic sectors, industries or segments of the market. In addition, turbulence in financial markets and reduced liquidity in equity, credit and/or fixed income markets may negatively affect many issuers, which could adversely affect the fund. Global economies and financial markets are becoming increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide. Recent examples include pandemic risks related to COVID-19 and aggressive measures taken worldwide in response by governments, including closing borders, restricting international and domestic travel, and the imposition of prolonged quarantines of large populations, and by businesses, including changes to operations and reducing staff. The effects of COVID-19 have contributed to increased volatility in global markets and will likely affect certain countries, companies, industries and market sectors more dramatically than others. The COVID-19 pandemic has had, and any other outbreak of an infectious disease or other serious public health concern could have, a significant negative impact on economic and market conditions and could trigger a prolonged period of global economic slowdown. To the extent the fund may overweight its investments in certain countries, companies, industries or market sectors, such positions will increase the fund's exposure to risk of loss from adverse developments affecting those countries, companies, industries or sectors. |
Mar. 19, 2020 |
|---|
| BNY Mellon Investment Funds V, Inc. | BNY Mellon Large Cap Equity Fund |
| BNY Mellon Large Cap Equity Fund |
March 19, 2020 BNY MELLON FAMILY OF FUNDS Supplement to Current Summary Prospectus and Prospectus |
The following information supplements the information in the sections entitled "Principal Investment Risks" in the summary prospectus and "Fund Summary - Principal Risks" and "Fund Details - Investment Risks" in the prospectus: Market risk. The value of the securities in which the fund invests may be affected by political, regulatory, economic and social developments, and developments that impact specific economic sectors, industries or segments of the market. In addition, turbulence in financial markets and reduced liquidity in equity, credit and/or fixed income markets may negatively affect many issuers, which could adversely affect the fund. Global economies and financial markets are becoming increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide. Recent examples include pandemic risks related to COVID-19 and aggressive measures taken worldwide in response by governments, including closing borders, restricting international and domestic travel, and the imposition of prolonged quarantines of large populations, and by businesses, including changes to operations and reducing staff. The effects of COVID-19 have contributed to increased volatility in global markets and will likely affect certain countries, companies, industries and market sectors more dramatically than others. The COVID-19 pandemic has had, and any other outbreak of an infectious disease or other serious public health concern could have, a significant negative impact on economic and market conditions and could trigger a prolonged period of global economic slowdown. To the extent the fund may overweight its investments in certain countries, companies, industries or market sectors, such positions will increase the fund's exposure to risk of loss from adverse developments affecting those countries, companies, industries or sectors. |
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