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BNY Mellon debt fund says health care and restaurants pushed down results

The fund’s four classes of shares all lagged behind the benchmark Credit Suisse Leveraged Loan Index, which had a total return of almost 3.4% for the same period

A BNY Mellon Investment Management debt fund said Envision Healthcare, Gavilan Resources, NPC International Inc. and Constellis Holdings LLC damped its returns in its recent fiscal year.

In its annual report, filed on 12 May with the Securities and Exchange Commission, the BNY Mellon Floating Rate Income Fund, which typically invests in variable-rate loans and securities of US issuers, said choices in health care, energy, leisure and services industries detracted from its results.

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