Dreyfus Debuts BOLD Future Retail MF
A press release titled, "Dreyfus Launches BOLD Future, Bringing the Power of BOLD to Retail Investors" tells us, "Dreyfus, BNY Mellon's affiliated liquidity manager, announced the launch of BOLD Future, a new share class for retail investors of the Dreyfus Government Cash Management fund. Building on the demand from institutional investors for BOLD, which stands for Black Opportunity for Learning and Development, BOLD Future will support Howard University's Graduation, Retention, and Access to Continued Excellence (GRACE) Grant by making an annual donation of 10% of the net revenue of the share class to a dedicated scholarship within the GRACE Grant." The release continues, "BOLD Future is designed to address the liquidity needs of financial advisors and their clients with an investment minimum of $25,000. BOLD Future is the latest innovation from Dreyfus in its 50th year as a leading provider of liquidity solutions." John Tobin, Chief Investment Officer at Dreyfus, says, "As one of the largest and most trusted cash and liquidity managers, we're delighted to deepen our partnership with Howard University and applaud their ongoing commitment to helping the highest-need students graduate. We are proud to have donated over $1 million to Howard University's GRACE Grant, powered by the strong commitment of our institutional clients. With the launch of BOLD Future, Dreyfus now offers financial advisors and their clients the same opportunity to make their money work harder by doing well and doing good." Ben Vinson, III, PhD, President of Howard University, comments, "Our partnership with Dreyfus is a game changer in eliminating financial barriers for Howard University students so that they focus more on completing college degrees, excelling in their chosen fields and advancing a more just and equitable society. Investing in the GRACE Grant not only strengthens retention and graduation rates, but also enables students to lead and succeed in making the world a better place for everyone. Our nation and the world stand to benefit from this type of transformative support as we move Howard forward toward maximum strength." For more on ESG and D&I MMFs, see these Crane Data News stories: "DWS Liquidating ESG Liquidity Fund, 7th Prime Inst to Exit; MM Basics" (5/22/24).
