BNY Mellon subsidiary Dreyfus introduced two new funds of funds Tuesday -- one to invest in “non-traditional assets” and one to invest in the most traditional asset of all: stocks.

Dreyfus Satellite Alpha Fund looks to Dreyfus-advised funds featuring “non-traditional” and alternative assets in its attempt to lower correlation to the general market. These alternative assets include commodities, currencies, real estate and inflation-protected securities.

Dreyfus Diversified Global Fund invests in global and domestic equity-focused Dreyfus-advised funds, and it has the goal of maximizing diversification.

The Satellite Alpha Fund has a Class A expense ratio of 160 basis points with a maximum front-end load of 575 bps, Class C shares for 235 bps with a maximum deferred sales charge of 100 bps, and Class I shares for 135 bps with no load charges. The Diversified Global Fund has a Class A expense ratio of 175 bps with a maximum front-end load of 575 bps, Class C shares for 250 bps with a maximum deferred sales charge of 100 bps, and Class I shares for 150 bps with no load charges. 

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