Jan. 31, 2026 |
|---|
| Prospectus Summary | DREYFUS TREASURY SECURITIES CASH MANAGEMENT
|
Risk Table - Prospectus Summary - DREYFUS TREASURY SECURITIES CASH MANAGEMENT
|
Risk [Text Block] |
| Principal Risks |
An investment in the fund is not a bank account or a bank deposit. It is not
insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
You could lose money by investing in the fund. Although the fund seeks to preserve the value of your
investment at $1.00 per share, it cannot guarantee it will do so. The fund's yield will fluctuate as
the short-term securities in its portfolio mature or are sold and the proceeds are reinvested in securities
with different interest rates. BNY Mellon Investment Adviser, Inc. and its affiliates are not required
to reimburse the fund for losses, and you should not expect that BNY Mellon Investment Adviser, Inc.
or its affiliates will provide financial support to the fund at any time, including during periods of
market stress. The fund is subject to the following principal risks:
|
| Risk Lose Money [Member] |
You could lose money by investing in the fund.
|
| Risk Money Market Fund Price Fluctuates [Member] |
The fund's yield will fluctuate as
the short-term securities in its portfolio mature or are sold and the proceeds are reinvested in securities
with different interest rates.
|
| Risk Money Market Fund May Not Preserve Dollar [Member] |
Although the fund seeks to preserve the value of your
investment at $1.00 per share, it cannot guarantee it will do so.
|
| Risk Not Insured [Member] |
An investment in the fund is not a bank account or a bank deposit. It is not
insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
|
| · Interest rate risk |
· Interest
rate risk: This risk refers to the decline in the prices of fixed-income
securities that may accompany a rise in the overall level of interest rates. A sharp and unexpected
rise in interest rates could impair the fund's ability to maintain a stable net asset
value. A wide variety of market factors can cause interest rates to rise, including central bank monetary
policy, rising inflation and changes in general economic conditions. It is difficult to predict the
pace at which central banks or monetary authorities may increase (or decrease) interest rates or the
timing, frequency, or magnitude of such changes. Changing interest rates may have unpredictable effects
on markets, may result in heightened market volatility and may detract
from fund performance. For floating and variable rate obligations, there may be a lag between an actual
change in the underlying interest rate benchmark and the reset time for an interest payment of such an
obligation, which could harm or benefit the fund, depending on the interest rate environment or other
circumstances.
|
| · Liquidity risk |
· Liquidity risk: When
there is little or no active trading market for specific types of securities, it can become more difficult
to sell the securities in a timely manner at or near their perceived value. In such a market, the value
of such securities may fall dramatically, potentially impairing the fund's ability to maintain a stable
net asset value.
|
| · U.S. Treasury securities risk |
· U.S. Treasury securities risk:
A security backed by the U.S. Treasury or the full faith and credit of the United States is guaranteed
only as to the timely payment of interest and principal when held to maturity, but the market prices
for such securities are not guaranteed and will fluctuate.
|
| · Market risk |
· Market
risk: The value of the securities in which the fund invests may be affected by political,
regulatory, economic and social developments. In addition, turbulence in financial markets and reduced
liquidity in fixed-income markets may negatively affect many issuers, which could adversely affect the
fund. Global economies and financial markets are becoming increasingly interconnected, and conditions
and events in one country, region or financial market may adversely impact issuers in a different country,
region or financial market. These risks may be magnified if certain events or developments adversely
interrupt the global supply chain; in these and other circumstances, such risks might affect companies
world-wide. Local, regional or global events such as war, acts of terrorism, natural disasters, the
spread of infectious illness or other public health issues, recessions, elevated levels of government
debt, changes in trade regulation or economic sanctions, internal unrest and discord, or other events
could have a significant impact on the fund and its investments.
|
|
| Prospectus Summary | DREYFUS TREASURY SECURITIES CASH MANAGEMENT
|
Risk Table - Prospectus Summary - DREYFUS TREASURY SECURITIES CASH MANAGEMENT
|
Risk [Text Block] |
| Principal Risks |
An investment in the fund is not a bank account
or a bank deposit. It is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC)
or any other government agency. You could lose money by investing in the fund. Although the fund seeks
to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The
fund's yield will fluctuate as the short-term securities in its portfolio mature or are sold and the
proceeds are reinvested in securities with different interest rates. BNY Mellon Investment Adviser,
Inc. and its affiliates are not required to reimburse the fund for losses, and you should not expect
that BNY Mellon Investment Adviser, Inc. or its affiliates will provide financial support to the fund
at any time, including during periods of market stress. The fund is subject to the following principal
risks:
|
| Risk Lose Money [Member] |
You could lose money by investing in the fund.
|
| Risk Money Market Fund Price Fluctuates [Member] |
The
fund's yield will fluctuate as the short-term securities in its portfolio mature or are sold and the
proceeds are reinvested in securities with different interest rates.
|
| Risk Money Market Fund May Not Preserve Dollar [Member] |
Although the fund seeks
to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.
|
| Risk Not Insured [Member] |
An investment in the fund is not a bank account
or a bank deposit. It is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC)
or any other government agency.
|
| · Interest rate risk |
· Interest
rate risk: This risk refers to the decline in the prices of fixed-income
securities that may accompany a rise in the overall level of interest rates. A sharp and unexpected
rise in interest rates could impair the fund's ability to maintain a stable net asset
value. A wide variety of market factors can cause interest rates to rise, including central bank monetary
policy, rising inflation and changes in general economic conditions. It is difficult to predict the
pace at which central banks or monetary authorities may increase (or decrease) interest rates or the
timing, frequency, or magnitude of such changes. Changing interest rates may have unpredictable effects
on markets, may result in heightened market volatility and may detract
from fund performance. For floating and variable rate obligations, there may be a lag between an actual
change in the underlying interest rate benchmark and the reset time for an interest payment of such an
obligation, which could harm or benefit the fund, depending on the interest rate environment or other
circumstances.
|
| · Liquidity risk |
· Liquidity risk: When
there is little or no active trading market for specific types of securities, it can become more difficult
to sell the securities in a timely manner at or near their perceived value. In such a market, the value
of such securities may fall dramatically, potentially impairing the fund's ability to maintain a stable
net asset value.
|
| · U.S. Treasury securities risk |
· U.S. Treasury securities risk:
A security backed by the U.S. Treasury or the full faith and credit of the United States is guaranteed
only as to the timely payment of interest and principal when held to maturity, but the market prices
for such securities are not guaranteed and will fluctuate.
|
| · Market risk |
· Market
risk: The value of the securities in which the fund invests may be affected by political,
regulatory, economic and social developments. In addition, turbulence in financial markets and reduced
liquidity in fixed-income markets may negatively affect many issuers, which could adversely affect the
fund. Global economies and financial markets are becoming increasingly interconnected, and conditions
and events in one country, region or financial market may adversely impact issuers in a different country,
region or financial market. These risks may be magnified if certain events or developments adversely
interrupt the global supply chain; in these and other circumstances, such risks might affect companies
world-wide. Local, regional or global events such as war, acts of terrorism, natural disasters, the
spread of infectious illness or other public health issues, recessions, elevated levels of government
debt, changes in trade regulation or economic sanctions, internal unrest and discord, or other events
could have a significant impact on the fund and its investments.
|
|
| Prospectus Summary | DREYFUS TREASURY SECURITIES CASH MANAGEMENT
|
Risk Table - Prospectus Summary - DREYFUS TREASURY SECURITIES CASH MANAGEMENT
|
Risk [Text Block] |
| Principal Risks |
An investment in the fund is not a bank account
or a bank deposit. It is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC)
or any other government agency. You could lose money by investing in the fund. Although the fund seeks
to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The
fund's yield will fluctuate as the short-term securities in its portfolio mature or are sold and the
proceeds are reinvested in securities with different interest rates. BNY Mellon Investment Adviser,
Inc. and its affiliates are not required to reimburse the fund for losses, and you should not expect
that BNY Mellon Investment Adviser, Inc. or its affiliates will provide financial support to the fund
at any time, including during periods of market stress. The fund is subject to the following principal
risks:
|
| Risk Lose Money [Member] |
You could lose money by investing in the fund.
|
| Risk Money Market Fund Price Fluctuates [Member] |
The
fund's yield will fluctuate as the short-term securities in its portfolio mature or are sold and the
proceeds are reinvested in securities with different interest rates.
|
| Risk Money Market Fund May Not Preserve Dollar [Member] |
Although the fund seeks
to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.
|
| Risk Not Insured [Member] |
An investment in the fund is not a bank account
or a bank deposit. It is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC)
or any other government agency.
|
| · Interest rate risk |
· Interest
rate risk: This risk refers to the decline in the prices of fixed-income
securities that may accompany a rise in the overall level of interest rates. A sharp and unexpected
rise in interest rates could impair the fund's ability to maintain a stable net asset
value. A wide variety of market factors can cause interest rates to rise, including central bank monetary
policy, rising inflation and changes in general economic conditions. It is difficult to predict the
pace at which central banks or monetary authorities may increase (or decrease) interest rates or the
timing, frequency, or magnitude of such changes. Changing interest rates may have unpredictable effects
on markets, may result in heightened market volatility and may detract
from fund performance. For floating and variable rate obligations, there may be a lag between an actual
change in the underlying interest rate benchmark and the reset time for an interest payment of such an
obligation, which could harm or benefit the fund, depending on the interest rate environment or other
circumstances.
|
| · Liquidity risk |
· Liquidity risk: When
there is little or no active trading market for specific types of securities, it can become more difficult
to sell the securities in a timely manner at or near their perceived value. In such a market, the value
of such securities may fall dramatically, potentially impairing the fund's ability to maintain a stable
net asset value.
|
| · U.S. Treasury securities risk |
· U.S. Treasury securities risk:
A security backed by the U.S. Treasury or the full faith and credit of the United States is guaranteed
only as to the timely payment of interest and principal when held to maturity, but the market prices
for such securities are not guaranteed and will fluctuate.
|
| · Market risk |
· Market
risk: The value of the securities in which the fund invests may be affected by political,
regulatory, economic and social developments. In addition, turbulence in financial markets and reduced
liquidity in fixed-income markets may negatively affect many issuers, which could adversely affect the
fund. Global economies and financial markets are becoming increasingly interconnected, and conditions
and events in one country, region or financial market may adversely impact issuers in a different country,
region or financial market. These risks may be magnified if certain events or developments adversely
interrupt the global supply chain; in these and other circumstances, such risks might affect companies
world-wide. Local, regional or global events such as war, acts of terrorism, natural disasters, the
spread of infectious illness or other public health issues, recessions, elevated levels of government
debt, changes in trade regulation or economic sanctions, internal unrest and discord, or other events
could have a significant impact on the fund and its investments.
|
|
| Prospectus Summary | DREYFUS TREASURY SECURITIES CASH MANAGEMENT
|
Risk Table - Prospectus Summary - DREYFUS TREASURY SECURITIES CASH MANAGEMENT
|
Risk [Text Block] |
| Principal Risks |
An investment in the fund is not a bank account
or a bank deposit. It is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC)
or any other government agency. You could lose money by investing in the fund. Although the fund seeks
to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The
fund's yield will fluctuate as the short-term securities in its portfolio mature or are sold and the
proceeds are reinvested in securities with different interest rates. BNY Mellon Investment Adviser,
Inc. and its affiliates are not required to reimburse the fund for losses, and you should not expect
that BNY Mellon Investment Adviser, Inc. or its affiliates will provide financial support to the fund
at any time, including during periods of market stress. The fund is subject to the following principal
risks:
|
| Risk Lose Money [Member] |
You could lose money by investing in the fund.
|
| Risk Money Market Fund Price Fluctuates [Member] |
The
fund's yield will fluctuate as the short-term securities in its portfolio mature or are sold and the
proceeds are reinvested in securities with different interest rates.
|
| Risk Money Market Fund May Not Preserve Dollar [Member] |
Although the fund seeks
to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.
|
| Risk Not Insured [Member] |
An investment in the fund is not a bank account
or a bank deposit. It is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC)
or any other government agency.
|
| · Interest rate risk |
· Interest
rate risk: This risk refers to the decline in the prices of fixed-income
securities that may accompany a rise in the overall level of interest rates. A sharp and unexpected
rise in interest rates could impair the fund's ability to maintain a stable net asset
value. A wide variety of market factors can cause interest rates to rise, including central bank monetary
policy, rising inflation and changes in general economic conditions. It is difficult to predict the
pace at which central banks or monetary authorities may increase (or decrease) interest rates or the
timing, frequency, or magnitude of such changes. Changing interest rates may have unpredictable effects
on markets, may result in heightened market volatility and may detract
from fund performance. For floating and variable rate obligations, there may be a lag between an actual
change in the underlying interest rate benchmark and the reset time for an interest payment of such an
obligation, which could harm or benefit the fund, depending on the interest rate environment or other
circumstances.
|
| · Liquidity risk |
· Liquidity risk: When
there is little or no active trading market for specific types of securities, it can become more difficult
to sell the securities in a timely manner at or near their perceived value. In such a market, the value
of such securities may fall dramatically, potentially impairing the fund's ability to maintain a stable
net asset value.
|
| · U.S. Treasury securities risk |
· U.S. Treasury securities risk:
A security backed by the U.S. Treasury or the full faith and credit of the United States is guaranteed
only as to the timely payment of interest and principal when held to maturity, but the market prices
for such securities are not guaranteed and will fluctuate.
|
| · Market risk |
· Market
risk: The value of the securities in which the fund invests may be affected by political,
regulatory, economic and social developments. In addition, turbulence in financial markets and reduced
liquidity in fixed-income markets may negatively affect many issuers, which could adversely affect the
fund. Global economies and financial markets are becoming increasingly interconnected, and conditions
and events in one country, region or financial market may adversely impact issuers in a different country,
region or financial market. These risks may be magnified if certain events or developments adversely
interrupt the global supply chain; in these and other circumstances, such risks might affect companies
world-wide. Local, regional or global events such as war, acts of terrorism, natural disasters, the
spread of infectious illness or other public health issues, recessions, elevated levels of government
debt, changes in trade regulation or economic sanctions, internal unrest and discord, or other events
could have a significant impact on the fund and its investments.
|
|
| Prospectus Summary | DREYFUS TREASURY SECURITIES CASH MANAGEMENT
|
Risk Table - Prospectus Summary - DREYFUS TREASURY SECURITIES CASH MANAGEMENT
|
Risk [Text Block] |
| Principal Risks |
An investment in the fund is not a bank account
or a bank deposit. It is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC)
or any other government agency. You could lose money by investing in the fund. Although the fund seeks
to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The
fund's yield will fluctuate as the short-term securities in its portfolio mature or are sold and the
proceeds are reinvested in securities with different interest rates. BNY Mellon Investment Adviser,
Inc. and its affiliates are not required to reimburse the fund for losses, and you should not expect
that BNY Mellon Investment Adviser, Inc. or its affiliates will provide financial support to the fund
at any time, including during periods of market stress. The fund is subject to the following principal
risks:
|
| Risk Lose Money [Member] |
You could lose money by investing in the fund.
|
| Risk Money Market Fund Price Fluctuates [Member] |
The
fund's yield will fluctuate as the short-term securities in its portfolio mature or are sold and the
proceeds are reinvested in securities with different interest rates.
|
| Risk Money Market Fund May Not Preserve Dollar [Member] |
Although the fund seeks
to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.
|
| Risk Not Insured [Member] |
An investment in the fund is not a bank account
or a bank deposit. It is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC)
or any other government agency.
|
| · Interest rate risk |
· Interest
rate risk: This risk refers to the decline in the prices of fixed-income
securities that may accompany a rise in the overall level of interest rates. A sharp and unexpected
rise in interest rates could impair the fund's ability to maintain a stable net asset
value. A wide variety of market factors can cause interest rates to rise, including central bank monetary
policy, rising inflation and changes in general economic conditions. It is difficult to predict the
pace at which central banks or monetary authorities may increase (or decrease) interest rates or the
timing, frequency, or magnitude of such changes. Changing interest rates may have unpredictable effects
on markets, may result in heightened market volatility and may detract
from fund performance. For floating and variable rate obligations, there may be a lag between an actual
change in the underlying interest rate benchmark and the reset time for an interest payment of such an
obligation, which could harm or benefit the fund, depending on the interest rate environment or other
circumstances.
|
| · Liquidity risk |
· Liquidity risk: When
there is little or no active trading market for specific types of securities, it can become more difficult
to sell the securities in a timely manner at or near their perceived value. In such a market, the value
of such securities may fall dramatically, potentially impairing the fund's ability to maintain a stable
net asset value.
|
| · U.S. Treasury securities risk |
· U.S. Treasury securities risk:
A security backed by the U.S. Treasury or the full faith and credit of the United States is guaranteed
only as to the timely payment of interest and principal when held to maturity, but the market prices
for such securities are not guaranteed and will fluctuate.
|
| · Market risk |
· Market
risk: The value of the securities in which the fund invests may be affected by political,
regulatory, economic and social developments. In addition, turbulence in financial markets and reduced
liquidity in fixed-income markets may negatively affect many issuers, which could adversely affect the
fund. Global economies and financial markets are becoming increasingly interconnected, and conditions
and events in one country, region or financial market may adversely impact issuers in a different country,
region or financial market. These risks may be magnified if certain events or developments adversely
interrupt the global supply chain; in these and other circumstances, such risks might affect companies
world-wide. Local, regional or global events such as war, acts of terrorism, natural disasters, the
spread of infectious illness or other public health issues, recessions, elevated levels of government
debt, changes in trade regulation or economic sanctions, internal unrest and discord, or other events
could have a significant impact on the fund and its investments.
|
|
| Prospectus Summary | DREYFUS TREASURY SECURITIES CASH MANAGEMENT
|
Risk Table - Prospectus Summary - DREYFUS TREASURY SECURITIES CASH MANAGEMENT
|
Risk [Text Block] |
| Principal Risks |
An investment in the fund is not a bank account
or a bank deposit. It is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC)
or any other government agency. You could lose money by investing in the fund. Although the fund seeks
to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The
fund's yield will fluctuate as the short-term securities in its portfolio mature or are sold and the
proceeds are reinvested in securities with different interest rates. BNY Mellon Investment Adviser,
Inc. and its affiliates are not required to reimburse the fund for losses, and you should not expect
that BNY Mellon Investment Adviser, Inc. or its affiliates will provide financial support to the fund
at any time, including during periods of market stress. The fund is subject to the following principal
risks:
|
| Risk Lose Money [Member] |
You could lose money by investing in the fund.
|
| Risk Money Market Fund Price Fluctuates [Member] |
The
fund's yield will fluctuate as the short-term securities in its portfolio mature or are sold and the
proceeds are reinvested in securities with different interest rates.
|
| Risk Money Market Fund May Not Preserve Dollar [Member] |
Although the fund seeks
to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.
|
| Risk Not Insured [Member] |
An investment in the fund is not a bank account
or a bank deposit. It is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC)
or any other government agency.
|
| · Interest rate risk |
· Interest
rate risk: This risk refers to the decline in the prices of fixed-income
securities that may accompany a rise in the overall level of interest rates. A sharp and unexpected
rise in interest rates could impair the fund's ability to maintain a stable net asset
value. A wide variety of market factors can cause interest rates to rise, including central bank monetary
policy, rising inflation and changes in general economic conditions. It is difficult to predict the
pace at which central banks or monetary authorities may increase (or decrease) interest rates or the
timing, frequency, or magnitude of such changes. Changing interest rates may have unpredictable effects
on markets, may result in heightened market volatility and may detract
from fund performance. For floating and variable rate obligations, there may be a lag between an actual
change in the underlying interest rate benchmark and the reset time for an interest payment of such an
obligation, which could harm or benefit the fund, depending on the interest rate environment or other
circumstances.
|
| · Liquidity risk |
· Liquidity risk: When
there is little or no active trading market for specific types of securities, it can become more difficult
to sell the securities in a timely manner at or near their perceived value. In such a market, the value
of such securities may fall dramatically, potentially impairing the fund's ability to maintain a stable
net asset value.
|
| · U.S. Treasury securities risk |
· U.S. Treasury securities risk:
A security backed by the U.S. Treasury or the full faith and credit of the United States is guaranteed
only as to the timely payment of interest and principal when held to maturity, but the market prices
for such securities are not guaranteed and will fluctuate.
|
| · Market risk |
· Market
risk: The value of the securities in which the fund invests may be affected by political,
regulatory, economic and social developments. In addition, turbulence in financial markets and reduced
liquidity in fixed-income markets may negatively affect many issuers, which could adversely affect the
fund. Global economies and financial markets are becoming increasingly interconnected, and conditions
and events in one country, region or financial market may adversely impact issuers in a different country,
region or financial market. These risks may be magnified if certain events or developments adversely
interrupt the global supply chain; in these and other circumstances, such risks might affect companies
world-wide. Local, regional or global events such as war, acts of terrorism, natural disasters, the
spread of infectious illness or other public health issues, recessions, elevated levels of government
debt, changes in trade regulation or economic sanctions, internal unrest and discord, or other events
could have a significant impact on the fund and its investments.
|
|
| Prospectus Summary | DREYFUS TREASURY SECURITIES CASH MANAGEMENT
|
Risk Table - Prospectus Summary - DREYFUS TREASURY SECURITIES CASH MANAGEMENT
|
Risk [Text Block] |
| Principal Risks |
An investment in the fund is not a bank account
or a bank deposit. It is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC)
or any other government agency. You could lose money by investing in the fund. Although the fund seeks
to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The
fund's yield will fluctuate as the short-term securities in its portfolio mature or are sold and the
proceeds are reinvested in securities with different interest rates. BNY Mellon Investment Adviser,
Inc. and its affiliates are not required to reimburse the fund for losses, and you should not expect
that BNY Mellon Investment Adviser, Inc. or its affiliates will provide financial support to the fund
at any time, including during periods of market stress. The fund is subject to the following principal
risks:
|
| Risk Lose Money [Member] |
You could lose money by investing in the fund.
|
| Risk Money Market Fund Price Fluctuates [Member] |
The
fund's yield will fluctuate as the short-term securities in its portfolio mature or are sold and the
proceeds are reinvested in securities with different interest rates.
|
| Risk Money Market Fund May Not Preserve Dollar [Member] |
Although the fund seeks
to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.
|
| Risk Not Insured [Member] |
An investment in the fund is not a bank account
or a bank deposit. It is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC)
or any other government agency.
|
| · Interest rate risk |
· Interest
rate risk: This risk refers to the decline in the prices of fixed-income
securities that may accompany a rise in the overall level of interest rates. A sharp and unexpected
rise in interest rates could impair the fund's ability to maintain a stable net asset
value. A wide variety of market factors can cause interest rates to rise, including central bank monetary
policy, rising inflation and changes in general economic conditions. It is difficult to predict the
pace at which central banks or monetary authorities may increase (or decrease) interest rates or the
timing, frequency, or magnitude of such changes. Changing interest rates may have unpredictable effects
on markets, may result in heightened market volatility and may detract
from fund performance. For floating and variable rate obligations, there may be a lag between an actual
change in the underlying interest rate benchmark and the reset time for an interest payment of such an
obligation, which could harm or benefit the fund, depending on the interest rate environment or other
circumstances.
|
| · Liquidity risk |
· Liquidity risk: When
there is little or no active trading market for specific types of securities, it can become more difficult
to sell the securities in a timely manner at or near their perceived value. In such a market, the value
of such securities may fall dramatically, potentially impairing the fund's ability to maintain a stable
net asset value.
|
| · U.S. Treasury securities risk |
· U.S. Treasury securities risk:
A security backed by the U.S. Treasury or the full faith and credit of the United States is guaranteed
only as to the timely payment of interest and principal when held to maturity, but the market prices
for such securities are not guaranteed and will fluctuate.
|
| · Market risk |
· Market
risk: The value of the securities in which the fund invests may be affected by political,
regulatory, economic and social developments. In addition, turbulence in financial markets and reduced
liquidity in fixed-income markets may negatively affect many issuers, which could adversely affect the
fund. Global economies and financial markets are becoming increasingly interconnected, and conditions
and events in one country, region or financial market may adversely impact issuers in a different country,
region or financial market. These risks may be magnified if certain events or developments adversely
interrupt the global supply chain; in these and other circumstances, such risks might affect companies
world-wide. Local, regional or global events such as war, acts of terrorism, natural disasters, the
spread of infectious illness or other public health issues, recessions, elevated levels of government
debt, changes in trade regulation or economic sanctions, internal unrest and discord, or other events
could have a significant impact on the fund and its investments.
|
|