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SEC Company Response from BNY Mellon Advantage Funds, Inc. (CIK 0000914775) — Apr 21, 2020

BNY Mellon Advantage Funds, Inc. (CIK 0000914775)
Date: April 21, 2020 · CIK: 0000914775 · Accession: 0001104659-20-049097

AI Filing Summary & Sentiment

File numbers found in text: 333-100610, 333-104120, 333-192305, 333-202460, 333-34474, 333-34844, 811-00524, 811-01899, 811-02192, 811-03757, 811-03940, 811-04215, 811-04764, 811-04765, 811-04813, 811-04906, 811-05021, 811-05202, 811-05454, 811-06377, 811-06490, 811-07123, 811-07502, 811-07512, 811-09891, 811-09903, 811-21236, 811-21327, 811-22912, 811-23036

Date
April 21, 2020
Author
/s/ Jeff S. Prusnofsky
Form
CORRESP
Company
BNY Mellon Advantage Funds, Inc. (CIK 0000914775)

Letter

BNY Mellon Investment Adviser, Inc.

240 Greenwich Street

New York, NY 10286

April 21, 2020

Securities and Exchange Commission

100 F Street, N.E.

Washington, D.C. 20549

Attention: Anu Dubey

Re: Filings pursuant to Rule 485(b)(1)(vii)

Ladies and Gentlemen:

On behalf of the investment companies (each, a "Registrant") listed on Exhibit A (and, where applicable, their series listed on Exhibit A (each, a "Fund")), we request permission from the staff (the "Staff") of the Securities and Exchange Commission (the "Commission") to allow each Registrant to file a post-effective amendment to its registration statement on Form N-1A (a "Replicate filing") pursuant to Rule 485(b)(1)(vii) under the Securities Act of 1933, as amended (the "Securities Act"), to (i) add disclosure regarding variations in sales loads available to investors who purchase Class A or Class C shares of the Funds on the Edward Jones commission and fee-based platforms or through a Janney Montgomery Scott LLC brokerage account (the "New Sales Load Variations"), and (ii) move all disclosure regarding variations in sales loads for certain intermediaries to an appendix to the statutory prospectus (the "Appendix"). In connection with this request, please note that, on February 24, 2020, BNY Mellon Active MidCap Fund, a series of BNY Mellon Strategic Funds, Inc. (File Nos. 2-88816; 811-03940) filed a post-effective amendment to its registration statement on Form N-1A (the "Template filing") pursuant to Rule 485(a)(1) under the Securities Act adding the New Sales Load Variations and the Appendix.

In Investment Company Act Release No. 20486 (August 17, 1994) regarding amendments to the procedures of the Commission for filing post-effective amendments (the "Release"), the Commission adopted paragraph (b)(1)(vii) (formerly (b)(1)(ix)) under Rule 485. The provision allows the Commission, on a discretionary basis, to permit certain types of post-effective amendments not otherwise eligible to be filed under Rule 485(b) to become automatically effective under Rule 485(b). Footnote 9 of the Release indicates that amendments containing substantially identical revisions filed by a number of funds in a fund complex may be filed under Rule 485(b) if the Staff had previously had an opportunity to review the disclosure in an amendment filed under Rule 485(a).

We are requesting that the Staff grant the requested relief prior to the effective date of the Template filing, as contemplated by Mutual Fund Fee Structures, IM Guidance Update 2016-06 (December 2016). In addition, pursuant to FAQ No. 1 of Frequently Asked Questions on IM Guidance Update 2016-06 (Mutual Fund Fee Structures) we plan to implement the New Sales Load Variations by making a filing under Rule 497, followed by a Rule 485(b) filing, for Funds that are implementing the New Sales Load Variations and that would not have otherwise needed to amend their registration statements prior to implementing sales load variations. Specifically, we wish to make filings pursuant to Rule 497 on or about May 1, 2020.

In connection with our request, each Registrant hereby makes the following representations:

· the disclosure changes in the Template filing are substantially identical to disclosure changes that will be made in the Replicate filings;

· the Replicate filings will incorporate changes made to the disclosure included in the Template filing to resolve any staff comments thereon; and

· the Replicate flings will not include any other changes that would otherwise render them ineligible for filing under Rule 485(b).

Very truly yours,
/s/ Jeff S. Prusnofsky

Show Raw Text
CORRESP
1
filename1.htm

BNY Mellon Investment Adviser, Inc.

240 Greenwich Street

New York, NY 10286

April 21, 2020

Securities and Exchange Commission

100 F Street, N.E.

Washington, D.C. 20549

Attention: Anu Dubey

 Re: Filings pursuant to Rule 485(b)(1)(vii)

Ladies and Gentlemen:

On behalf of the investment companies (each,
a "Registrant") listed on Exhibit A (and, where applicable, their series listed on Exhibit A (each, a "Fund")),
we request permission from the staff (the "Staff") of the Securities and Exchange Commission (the "Commission")
to allow each Registrant to file a post-effective amendment to its registration statement on Form N-1A (a "Replicate filing")
pursuant to Rule 485(b)(1)(vii) under the Securities Act of 1933, as amended (the "Securities Act"), to (i) add disclosure
regarding variations in sales loads available to investors who purchase Class A or Class C shares of the Funds on the Edward Jones
commission and fee-based platforms or through a Janney Montgomery Scott LLC brokerage account (the "New Sales Load Variations"),
and (ii) move all disclosure regarding variations in sales loads for certain intermediaries to an appendix to the statutory prospectus
(the "Appendix"). In connection with this request, please note that, on February 24, 2020, BNY Mellon Active MidCap Fund,
a series of BNY Mellon Strategic Funds, Inc. (File Nos. 2-88816; 811-03940) filed a post-effective amendment to its registration
statement on Form N-1A (the "Template filing") pursuant to Rule 485(a)(1) under the Securities Act adding the New Sales
Load Variations and the Appendix.

In Investment Company Act Release No. 20486
(August 17, 1994) regarding amendments to the procedures of the Commission for filing post-effective amendments (the "Release"),
the Commission adopted paragraph (b)(1)(vii) (formerly (b)(1)(ix)) under Rule 485. The provision allows the Commission, on a discretionary
basis, to permit certain types of post-effective amendments not otherwise eligible to be filed under Rule 485(b) to become automatically
effective under Rule 485(b). Footnote 9 of the Release indicates that amendments containing substantially identical revisions filed
by a number of funds in a fund complex may be filed under Rule 485(b) if the Staff had previously had an opportunity to review
the disclosure in an amendment filed under Rule 485(a).

We are requesting that the Staff grant
the requested relief prior to the effective date of the Template filing, as contemplated by Mutual Fund Fee Structures,
IM Guidance Update 2016-06 (December 2016). In addition, pursuant to FAQ No. 1 of Frequently Asked Questions on IM Guidance
Update 2016-06 (Mutual Fund Fee Structures) we plan to implement the New Sales Load Variations by making a filing under Rule
497, followed by a Rule 485(b) filing, for Funds that are implementing the New Sales Load Variations and that would not have otherwise
needed to amend their registration statements prior to implementing sales load variations. Specifically, we wish to make filings
pursuant to Rule 497 on or about May 1, 2020.

In connection with our request, each Registrant
hereby makes the following representations:

 · the disclosure changes in the Template filing are substantially identical to disclosure changes
that will be made in the Replicate filings;

 · the Replicate filings will incorporate changes made to the disclosure included in the Template
filing to resolve any staff comments thereon; and

 · the Replicate flings will not include any other changes that would otherwise render them ineligible
for filing under Rule 485(b).

Very truly yours,

/s/ Jeff S. Prusnofsky

Jeff S. Prusnofsky, Vice President and Assistant Secretary of
each Registrant listed on Exhibit A

    2

EXHIBIT A

    Registrants and Funds
    File Numbers
    FYE

    —BNY Mellon Advantage Funds, Inc.
    33-51061; 811-07123

          —BNY Mellon Global Dynamic Bond Income Fund

    10/31

          —BNY Mellon Global Real Return Fund

    10/31

          —BNY Mellon Opportunistic Midcap Value Fund

    8/31

          —BNY Mellon Dynamic Value Fund

    8/31

          —BNY Mellon Structured Midcap Fund

    8/31

          —BNY Mellon Technology Growth Fund

    8/31

          —BNY Mellon Dynamic Total Return Fund

    10/31

    —BNY Mellon Absolute Insight Funds, Inc.
    333-202460; 811-23036

          —BNY Mellon Broad Opportunities Fund

    10/31

          —BNY Mellon Core Plus Fund

    4/30

    —BNY Mellon Funds Trust
    333-34844; 811-09903

          —BNY Mellon Income Stock Fund

    8/31

    —BNY Mellon Investment Funds II, Inc.
    333-192305; 811-22912

          —BNY Mellon Alternative Diversifier Strategies Fund

    10/31

          —BNY Mellon Global Emerging Markets Fund

    10/31

          —BNY Mellon Yield Enhancement Strategy Fund

    10/31

    —BNY Mellon International Securities Funds, Inc.
    33-58248; 811-07502

          —BNY Mellon Emerging Markets Securities Fund

    5/31

    —BNY Mellon Investment Funds I
    33-08214; 811-04813

          —BNY Mellon Diversified Emerging Markets Fund

    9/30

          —BNY Mellon International Equity Fund

    9/30

          —BNY Mellon Global Fixed Income Fund

    12/31

          —BNY Mellon Tax Sensitive Total Return Bond Fund

    9/30

          —BNY Mellon Small/Mid Cap Growth Fund

    9/30

          —BNY Mellon Small Cap Value Fund

    9/30

    —BNY Mellon Investment Funds IV, Inc.
    33-16338; 811-05202

          —BNY Mellon Floating Rate Income Fund

    8/31

          —BNY Mellon Tax Managed Growth Fund

    10/31

    —BNY Mellon Investment Funds III
    33-43846; 811-00524

          —BNY Mellon Equity Income Fund

    5/31

          —BNY Mellon Global Equity Income Fund

    10/31

          —BNY Mellon High Yield Fund

    12/31

          —BNY Mellon International Bond Fund

    10/31

    —BNY Mellon Investment Funds VI
    333-104120; 811-21327

          —BNY Mellon Balanced Opportunity Fund

    11/30

    —BNY Mellon Opportunistic Municipal Securities Fund
    33-07496; 811-04764
    4/30

    —BNY Mellon Municipal Funds, Inc.
    33-42162; 811-06377

          —BNY Mellon AMT-Free Municipal Bond Fund

    8/31

          —BNY Mellon High Yield Municipal Bond Fund

    8/31

    3

    —BNY Mellon New Jersey Municipal Bond Fund, Inc.
    33-19655; 811-05454
    12/31

    —BNY Mellon New York AMT-Free Municipal Bond Fund
    33-07497; 811-04765
    11/30

    —BNY Mellon Opportunity Funds
    333-34474; 811-09891

          —BNY Mellon Natural Resources Fund

    9/30

          —BNY Mellon Japan Womenomics Fund

    7/31

          —BNY Mellon Strategic Beta Emerging Markets Equity Fund

    10/31

    —BNY Mellon California AMT-Free Municipal Bond Fund, Inc.
    2-84105; 811-03757
    5/31

    —BNY Mellon U.S. Mortgage Fund, Inc.
    2-95553; 811-04215
    4/30

    —BNY Mellon Investment Funds V, Inc.
    33-44254; 811-06490

          —BNY Mellon Diversified International Fund

    10/31

          —BNY Mellon Global Real Estate Securities Fund

    10/31

          —BNY Mellon Large Cap Equity Fund

    12/31

          —BNY Mellon Large Cap Growth Fund

    12/31

    —BNY Mellon Short-Intermediate Municipal Bond Fund
    33-11752; 811-05021
    3/31

    —BNY Mellon Research Growth Fund, Inc.
    002-33733; 811-01899
    2/28(29)

    —BNY Mellon Worldwide Growth Fund, Inc.
    33-58282; 811-07512
    10/31

    —BNY Mellon State Municipal Bond Funds
    33-10238; 811-04906

          —BNY Mellon Connecticut Fund

    4/30

          —BNY Mellon Massachusetts Fund

    4/30

          —BNY Mellon Pennsylvania Fund

    4/30

    —BNY Mellon Stock Funds
    333-100610; 811-21236

          —BNY Mellon International Core Equity Fund

    9/30

          —BNY Mellon International Small Cap Fund

    10/31

    —BNY Mellon Sustainable U.S. Equity Fund, Inc.
    2-40341; 811-02192
    5/31

    —BNY Mellon Strategic Funds, Inc.
    2-88816; 811-03940

          —BNY Mellon Select Managers Small Cap Growth Fund

    5/31

          —BNY Mellon Select Managers Small Cap Value Fund

    11/30

          —BNY Mellon U.S. Equity Fund

    11/30

          —BNY Mellon Global Stock Fund

    11/30

          —BNY Mellon International Stock Fund

    11/30

    4