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Bny Mellon Funds Trust – ‘497’ on 3/24/17

On:  Friday, 3/24/17, at 4:00pm ET   ·   Effective:  3/24/17   ·   Accession #:  1111565-17-50   ·   File #:  333-34844

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  As Of                Filer                Filing    For·On·As Docs:Size

 3/24/17  Bny Mellon Funds Trust            497         3/24/17    1:2.7M
          → BNY Mellon Asset Allocation Fund ⇒ Class M Shares (MPBLX) — Investor Shares (MIBLX)
          → BNY Mellon Bond Fund ⇒ Class M Shares (MPBFX) — Investor Shares (MIBDX)
          → BNY Mellon Corporate Bond Fund ⇒ Class M Shares (BYMMX) — Investor Shares (BYMIX)
          → BNY Mellon Emerging Markets Fund ⇒ Class M Shares (MEMKX) — Investor Shares (MIEGX)
          → BNY Mellon Focused Equity Opportunities Fund ⇒ Class M Shares (MFOMX) — Investor Shares (MFOIX)
          → BNY Mellon Government Money Market Fund ⇒ Class M Shares (MLMXX) — Investor Shares (MLOXX)
          → BNY Mellon Income Stock Fund ⇒ Class A (BMIAX) — Class C (BMISX) — Class I (BMIIX) — Class M Shares (MPISX) — Class Y (BMIYX) — Investor Shares (MIISX)
          → BNY Mellon Intermediate Bond Fund ⇒ Class M Shares (MPIBX) — Investor Shares (MIIDX)
          → BNY Mellon International Appreciation Fund ⇒ Class M (MPPMX) — Investor Shares (MARIX)
          → BNY Mellon International Equity Income Fund ⇒ Class M (MLIMX) — Investor (MLIIX)
          → BNY Mellon International Fund ⇒ Class M Shares (MPITX) — Investor Shares (MIINX)
          → BNY Mellon Large Cap Market Opportunities Fund ⇒ Class M Shares (MMOMX) — Investor Shares (MMOIX)
          → BNY Mellon Large Cap Stock Fund ⇒ Class M Shares (MPLCX) — Investor Shares (MILCX)
          → BNY Mellon Massachusetts Intermediate Municipal Bond Fund ⇒ Class M Shares (MMBMX) — Investor Shares (MMBIX)
          → BNY Mellon Mid Cap Multi-Strategy Fund ⇒ Class M Shares (MPMCX) — Investor Shares (MIMSX)
          → BNY Mellon Municipal Opportunities Fund ⇒ Class M (MOTMX) — Investor (MOTIX)
          → BNY Mellon National Intermediate Municipal Bond Fund ⇒ Class M Shares (MPNIX) — Investor Shares (MINMX)
          → BNY Mellon National Municipal Money Market Fund ⇒ Class M Shares (MOMXX) — Investor Shares (MNTXX)
          → BNY Mellon National Short-Term Municipal Bond Fund ⇒ Class M Shares (MPSTX) — Investor Shares (MINSX)
          → BNY Mellon New York Intermediate Tax-Exempt Bond Fund ⇒ Class M (MNYMX) — Investor Shares (MNYIX)
          → BNY Mellon Pennsylvania Intermediate Municipal Bond Fund ⇒ Class M Shares (MPPIX) — Investor Shares (MIPAX)
          → BNY Mellon Short-Term U.S. Government Securities Fund ⇒ Class M Shares (MPSUX) — Investor Shares (MISTX)
          → BNY Mellon Small Cap Multi-Strategy Fund ⇒ Class M Shares (MPSSX) — Investor Shares (MISCX)
          → BNY Mellon Small/Mid Cap Multi-Strategy Fund ⇒ Class M Shares (MMCMX) — Investor Shares (MMCIX)
          → BNY Mellon Tax Sensitive Large Cap Multi-Strategy Fund ⇒ Class M Shares (MTSMX) — Investor Shares (MTSIX)

Document/Exhibit                   Description                      Pages   Size 

 1: 497         Finalized Sai for 497E                              HTML   1.75M 

STATEMENT OF ADDITIONAL INFORMATION

December 30, 2016, as revised March 31, 2017

This Statement of Additional Information (SAI), which is not a prospectus, supplements and should be read in conjunction with the current prospectus of each fund listed below, as such prospectuses may be revised from time to time. To obtain a copy of a fund's prospectus, please call your financial adviser, or write to the Trust at 144 Glenn Curtiss Boulevard, Uniondale, New York 11556-0144, visit www.dreyfus.com, or call one of the following numbers: Wealth Management Clients and Investment Advisory Firm Clients – call toll free 1-866-804-5023 (1-617-248-3014 outside the U.S.); Individual Account Holders of Class M shares and Investor shares (other than BNY Mellon Wealth Brokerage Clients) – call toll free 1-800-DREYFUS; holders of Class A, Class C, Class I, Class T or Class Y shares of BNY Mellon Income Stock Fund – call your financial advisor or call toll free 1-800-DREYFUS; BNY Mellon Wealth Brokerage Clients – call toll free 1-800-830-0549 – Option 2 for BNY Mellon Wealth Management Direct or 1-800-843-5466 for former brokerage clients of BNY Mellon Wealth Advisors whose accounts are now held by Dreyfus Brokerage Services; and participants in Qualified Employee Benefit Plans and Retirement Plans – call toll free 1-866-804-5023.

The most recent annual report and semi-annual report to shareholders for the funds are separate documents supplied with this SAI, and the financial statements, accompanying notes and report of the independent registered public accounting firm appearing in the annual report are incorporated by reference into this SAI. All classes of a fund have the same prospectus date, except if otherwise indicated. Certain information provided in this SAI is indicated to be as of the end of a fund's last fiscal year or during a fund's last fiscal year. The term "last fiscal year" means the most recently completed fiscal year ended August 31st. Capitalized but undefined terms used in this SAI are defined in the Glossary at the end of this SAI.

TABLE OF CONTENTS

PART I

PART II

PART III

PART I

BOARD INFORMATION

Information About Each Board Member's Experience, Qualifications, Attributes or Skills

Board members of the Trust, together with information as to their positions with the Trust, principal occupations and other board memberships during the past five years, are shown below. All of the board members are Independent Board Members. The address of each board member is 200 Park Avenue, New York, New York 10166.

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Each of the board members serves on the board's audit, nominating, litigation and pricing committees.

Additional information about each board member follows (supplementing the information provided in the table above) that describes some of the specific experiences, qualifications, attributes or skills that each board member possesses which the board believes has prepared them to be effective board members. The board believes that the significance of each board member's experience, qualifications, attributes or skills is an individual matter (meaning that experience that is important for one board member may not have the same value for another) and that these factors are best evaluated at the board level, with no single board member, or particular factor, being indicative of board effectiveness. However, the board believes that board members need to have the ability to critically review, evaluate, question and discuss information provided to them, and to interact effectively with Trust management, service providers and counsel, in order to exercise effective business judgment in the performance of their duties; the board believes that its members satisfy this standard. Experience relevant to having this ability may be achieved through a board member's educational background; business, professional training or practice (e.g., medicine, accounting or law), public service or academic positions; experience from service as a board member (including the board for the Trust) or as an executive of investment funds, public companies or significant private or not-for-profit

I-2

entities or other organizations; and/or other life experiences. The charter for the board's nominating committee contains certain other factors considered by the committee in identifying and evaluating potential board member nominees. To assist them in evaluating matters under federal and state law, the board members are counseled by their independent legal counsel, who participates in board meetings and interacts with the Manager, and also may benefit from information provided by the Trust's or the Manager's counsel; counsel to the Trust and to the board have significant experience advising funds and fund board members. The board and its committees have the ability to engage other experts as appropriate. The board evaluates its performance on an annual basis.

· Patrick J. O'Connor – Mr. O'Connor is Vice Chairman of the law firm Cozen O'Connor, P.C., where his practice involves litigation arising out of contracts, banking matters, estates, professional liability, healthcare and aviation-related claims. Mr. O'Connor has served as a fellow or board member of a number of legal, professional, civic and educational organizations. In addition, Mr. O'Connor is a member of the Board of Directors of Crowley Chemical Company, Inc. and Chairman of the Board of Trustees of Temple University. Mr. O'Connor served as Chairman of Franklin Security Bank from 2008 to 2014.

· John R. Alchin – From 1990 to 2007, Mr. Alchin served in various roles, including Executive Vice President, Co-Chief Financial Officer and Treasurer, as an executive of the Comcast Corporation. Prior to joining Comcast in 1990, Mr. Alchin was a Managing Director of Toronto Dominion Bank from May 1980 to January 1990. Mr. Alchin served as a member of the Board of Directors of Big Brothers Big Sisters of Southeastern Pennsylvania from 2003 to 2012. Mr. Alchin is an Advisory Board Member of MANNA (Metropolitan AIDS Neighborhood Nutrition Alliance), and a Trustee of the Philadelphia Museum of Art and Chairman of the Museum's Finance Committee.

· Ronald R. Davenport – Mr. Davenport is Chairman, and one of the original founders, of Sheridan Broadcasting Corporation, and Co-Chairman of American Urban Radio Networks. Mr. Davenport was Dean of the Duquesne University School of Law from 1970 to 1982, and served as a member of the President's Commission on White House Fellowships and on the National Board of the United States Chamber of Commerce. Mr. Davenport was a Director of Blaylock & Partners, L.P., an investment banking firm, from 2005 to 2006. He is a former member of the National Urban League Board of Directors and former President of the Urban League of Pittsburgh.

· Jack Diederich –Mr. Diederich served as Executive Vice President—Chairman's Counsel of Aluminum Company of America (Alcoa) from August 1991 to January 1997. Mr. Diederich serves on the Boards of Directors of Continental Mills, Inc. and Pittsburgh Parks Conservancy.

· Kim D. Kelly – Ms. Kelly currently serves as a consultant, primarily to private equity firms, in the media and restructuring fields. Most recently, from December 2008 to June 2010, Ms. Kelly served as Chief Restructuring Officer of Equity Media Holdings Corporation, an owner of broadcast stations. Previously, Ms. Kelly held executive positions with a number of large media companies, such as Arroyo Video Solutions, Inc., where she also served on the Board of Directors, Insight Communications Company, Inc. and Insight Midwest, L.P.

· Kevin C. Phelan – Mr. Phelan is President and Co-Chairman of Colliers International (formerly, Colliers Meredith & Grew Inc. and Meredith & Grew, Inc.), a commercial real estate firm. Mr. Phelan joined Meredith & Grew, Inc. in 1978 and founded its Capital Markets group, which represents insurance companies and conduits, and maintains a servicing portfolio valued at $1 billion. In addition, Mr. Phelan has served on correspondent advisory councils for both AEGON U.S.A. Realty Advisors, Inc. and Nationwide Life Insurance Company, as well as numerous non-profit boards and committees.

· Patrick J. Purcell – Mr. Purcell has more than 40 years of experience in the publishing industry. From 1970 to 1980, Mr. Purcell worked for the New York Daily News, and in 1980 he joined News Corporation, where he served in numerous capacities, including Associate Publisher of the Village Voice, Vice President of Advertising Sales for the New York Post, President of News America/Newspapers, President and Chief Executive Officer of News America Publishing, Inc., Publisher of the New York Post and President and Publisher of the Boston Herald. In 1993, Mr. Purcell purchased the Boston Herald from News Corporation. Mr. Purcell served as Executive Chairman of Ottaway Newspapers, Inc. from 2009 to 2013. In addition, Mr. Purcell serves on the Boards of Directors of a number of non-profit organizations.

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· Thomas F. Ryan, Jr. – Mr. Ryan is the former President and Chief Operating Officer of the American Stock Exchange (now known as the NYSE Amex Equities), from which he retired in 1999. Prior to that, Mr. Ryan held a variety of positions at the investment banking firm of Kidder, Peabody & Co., Inc., including serving as its Chairman in 1995. In addition, Mr. Ryan served as a member of the NYSE Market Performance Committee and Chairman of the Traders Advisory Committee to the Chairman of NYSE.

· Maureen M. Young – Ms. Young served as the Director of the Office of Government Relations at Carnegie Mellon University from January 2000 to December 2007. Ms. Young also served as a member of the Board of Directors of Maglev, Inc., a company seeking a partnership between industry and government in Pennsylvania to create a magnetically levitated high-speed transportation system, from January 2001 to January 2008. Ms. Young serves on the Boards of Directors of a number of non-profit organizations.

Committee Meetings

The board's audit, nominating, compensation, pricing and litigation committees met during the funds' last fiscal year as indicated below:

Board Members' and Officers' Fund Share Ownership

The table below indicates the dollar range of each board member's ownership of fund shares, in each case as of December 31, 2016.

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