One of the biggest names in money-market funds is making an unusual play to get investors’ attention.
Dreyfus, a unit of BNY Mellon, will let big clients of its flagship, $115 billion Government Cash Management fund effectively redirect 10% of the annual fees they pay toward a nonprofit of their choice.
“Clients want to get a good yield, and they want to make an impact,” said Stephanie Pierce, chief executive officer of Dreyfus, Mellon and exchange-traded funds at BNY Mellon Investment Management.
