https://www.sec.gov/Archives/edgar/data/799295/000110465921083212/tm2119926d1_497.htm497 1 tm2119926d1_497.htm 497
BNY MELLON STRUCTURED MIDCAP FUND
c/o BNY Mellon Investment Adviser, Inc.
240 Greenwich Street
New York, New York 10286
1-800-373-9387
www.im.bnymellon.com
Dear Shareholder:
As a shareholder of BNY Mellon Structured Midcap Fund (the "Fund"), you are being asked to vote on an Agreement and Plan of Reorganization to allow the Fund to transfer all of its assets in a tax-free reorganization to BNY Mellon Small/Mid Cap Growth Fund (the "Acquiring Fund"), in exchange solely for Class A, Class C, Class I and Class Y shares of the Acquiring Fund and the assumption by the Acquiring Fund of the Fund's stated liabilities. The Fund is a series of BNY Mellon Advantage Funds, Inc. (the "Company") and the Acquiring Fund is a series of BNY Mellon Investment Funds I. BNY Mellon Investment Adviser, Inc. ("BNYM Investment Adviser") is the investment adviser to the Acquiring Fund and the Fund. Mellon Investments Corporation ("Mellon"), an affiliate of BNYM Investment Adviser, is the sub-investment adviser to the Acquiring Fund and the Fund. BNYM Investment Adviser and Mellon are wholly-owned subsidiaries of The Bank of New York Mellon Corporation.
Management of BNYM Investment Adviser has reviewed the funds in the BNY Mellon Family of Funds and has concluded that it would be appropriate to consolidate certain funds having similar investment objectives and strategies and that would otherwise benefit fund shareholders. As a result of the review, management recommended to the Company's Board of Directors that the Fund be consolidated with the Acquiring Fund. The reorganization of the Fund would occur on or about November 5, 2021 if approved by shareholders...
