For the quarter ended March 31, 2026, BNY Mellon Core Plus Fund’s Class I shares returned -0.27%, excluding sales charges.
In comparison, the Fund’s unmanaged benchmark, the Bloomberg U.S. Aggregate Bond Index, returned -0.05% for the same period.
Security selection contributed negatively, driven by our overweights to subordinated financials and high-beta industrials. It contributed positively within the energy and insurance sectors.
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Market Review
The Federal Open Market Committee (FOMC) kept rates on hold after three consecutive cuts in 2025. After the Iran war began, the FOMC revised its year-end median forecasts for headline and core personal consumption expenditures (PCE) inflation higher
