Strategy. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities (or other instruments with similar economic characteristics) of companies located, organized, or with a majority of assets or business in emerging market countries, including other investment companies (underlying funds) that invest in such securities. The fund considers emerging market countries to be all countries represented in the Morgan Stanley Capital International (MSCI ) Emerging Markets Index (MSCI EM Index), the fund's benchmark index. The fund is designed to provide exposure to various portfolio managers and investment strategies that focus on investing in equity securities of emerging market issuers. The fund may use a "fund of funds" … Show more… To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities (or other instruments with similar economic characteristics) of companies located, organized, or with a majority of assets or business in emerging market countries, including other investment companies (underlying funds) that invest in such securities. The fund considers emerging market countries to be all countries represented in the Morgan Stanley Capital International (MSCI ) Emerging Markets Index (MSCI EM Index), the fund's benchmark index. The fund is designed to provide exposure to various portfolio managers and investment strategies that focus on investing in equity securities of emerging market issuers. The fund may use a "fund of funds" approach by investing in one or more underlying funds and/or a "manager of managers" approach by selecting one or more experienced investment managers to serve as sub-advisers to the fund. The fund normally allocates its assets among emerging market equity strategies employed by one or more underlying funds and/or sub-advisers. Underlying funds may include other funds in the BNY Mellon Family of Funds and unaffiliated open-end funds, closed-end funds and exchange-traded funds (ETFs), and sub-advisers may be affiliated or unaffiliated with BNY Mellon Investment Adviser, Inc. (BNYM Investment Adviser), the fund's investment adviser. The fund and the underlying funds also may invest in companies organized or with their principal place of business, or a majority of assets or business, in developed markets and pre-emerging markets, also known as frontier markets. The fund and the underlying funds may invest in equity securities of companies with any market capitalization. The fund and the underlying funds invest principally in common stocks. The fund currently allocates its assets among an Active Equity Strategy and Multi-Factor Equity Strategy separately employed by Newton Investment Management North America, LLC (NIMNA), the fund's sub-adviser, and BNY Mellon Global Emerging Markets Fund (the Newton Fund), an affiliated underlying fund, which is sub-advised by Newton Investment Management Limited, as described below. The target percentages for allocating the fund's assets among the investment strategies and underlying fund, as of the date of this prospectus, were as follows: Strategy/Underlying Fund Target % of Fund's Total Assets Active Equity Strategy 33.3% Multi-Factor Equity Strategy 33.3% Newton Fund 33.3% BNYM Investment Adviser determines the investment strategies in which to invest and sets the target allocations. BNYM Investment Adviser will allocate new inflows and outflows of fund assets to the Active Equity Strategy, the Multi-Factor Equity Strategy and the Newton Fund in accordance with the target weightings, and will rebalance the fund's portfolio at least quarterly if the amount allocated to a particular investment strategy varies from the normal targeted allocation by 10% or more because of market fluctuations. The fund may hire, terminate or replace sub-advisers and modify material terms and conditions of sub-advisory arrangements without shareholder approval. A sub-adviser will have complete discretion to invest its allocated portion of the fund's assets as it deems appropriate, based on the particular investment process, philosophy, style and strategy it employs. As a result of the fund's overall investment program, including the allocation of the fund's assets to the different investment strategies, the fund's country, sector and industry weightings will vary at any given time from those of the MSCI EM Index. Active Equity Strategy . The Active Equity Strategy invests in a broad range of (and in any case at least five different) emerging market countries. The stocks purchased may have value and/or growth characteristics. The portfolio manager responsible for the Active Equity Strategy employs a bottom-up investment approach which emphasizes individual stock selection. The portfolio manager responsible for the Active Equity Strategy considers: ? Stock selection, using proprietary quantitative models and traditional qualitative analysis to identify attractive stocks with low relative price multiples and positive trends in earnings forecasts ? Country allocations, generally seeking to allocate country weightings in accordance with the MSCI EM Index, but deviations from the MSCI EM Index country weightings may occur ? Sector and industry allocations, grouping stocks into micro-universes of similar companies within each country to facilitate comparisons and using the sector allocations of the MSCI EM Index as a guide, but allocations may differ from those of the MSCI EM Index The stock selection process is designed to produce a diversified portfolio that, relative to the MSCI EM Index, has a below-average price/earnings ratio and an above-average earnings growth trend. The portfolio manager responsible for the Active Equity Strategy typically sells a stock when it appears less likely to benefit from the current market and economic environment, shows deteriorating fundamentals or declining momentum, or falls short of the portfolio manager's expectations. Multi-Factor Equity Strategy . The Multi-Factor Equity Strategy applies a systematic, quantitative investment approach designed to identify and exploit relative misvaluations in equity securities of emerging market issuers. The portfolio manager responsible for the Multi-Factor Equity Strategy employs a proprietary valuation model that identifies and ranks stocks (Composite Alpha Ranking or CAR). The portfolio manager responsible for the Multi-Factor Equity Strategy constructs a portfolio through a systematic structured approach, focusing on stock selection as opposed to making proactive decisions as to industry or sector exposure. Within each sector and style subset, the portfolio manager responsible for the Multi-Factor Equity Strategy overweights the most attractive stocks and underweights or zero weights the stocks that have been ranked least attractive. The portfolio manager responsible for the Multi-Factor Equity Strategy typically will consider selling a security if the company's relative attractiveness deteriorates or if valuation becomes excessive. The Multi-Factor Equity Strategy may sell a security if an event occurs that contradicts the portfolio manager's rationale for purchasing it for the strategy, such as deterioration in the company's fundamentals, or if better investment opportunities emerge elsewhere. These sell decisions generally are based on the portfolio manager's adherence to the underlying models. Newton Fund . This underlying fund normally invests in common stocks and other equity securities (or derivative or other strategic instruments with similar economic characteristics) of companies organized or with their principal place of business, or majority of assets or business, in emerging market countries. The Newton Fund considers emerging market countries to be all countries represented in the MSCI EM Index. The Newton Fund also may invest in equity securities of companies in developed markets and pre-emerging markets, also known as frontier markets. The Newton Fund's sub-adviser employs a fundamental bottom-up investment process that emphasizes quality, return on capital employed and governance. The process of identifying investment ideas begins by identifying a core list of investment themes. These themes are based primarily on observable global economic, industrial, or social trends that the Newton Fund's sub-adviser believes will positively affect certain sectors or industries and cause stocks within these sectors or industries to outperform others. The Newton Fund's sub-adviser then identifies specific companies using these investment themes to help it focus on areas where the thematic and strategic research indicates positive returns are likely to be achieved. The Newton Fund's portfolio managers typically consider selling a security as a result of one or more of the following: ? a change in investment theme or strategy; ? profit-taking; ? a significant change in the prospects of the company; ? price movement and market activity have created excessive valuation; or ? unfavorable relative risk/reward versus other opportunities. Show less