DMB vs RVT

BNY Mellon Municipal Bond Infrastructure Fund Inc.

BNY Mellon Municipal Bond Infrastructure Fund, Inc. is a closed ended fixed income mutual fund launched and managed by BNY Mellon Investment Adviser, Inc. The fund invests in the fixed income markets of the United States. It primarily invests in the tax-exempt investment grade debt obligations issued by or on behalf of states, territories and possessions of the United States and the District of Columbia and their political subdivisions, agencies and instrumentalities, or multistate agencies or authorities, and certain other specified securities. The fund invests its bonds issued by infrastructure sector including transportation, energy and utilities, social infrastructure, water and environment, and other similar public sectors which are rated as BBB- and above by S&P and Fitch and Baa3 and above by Moody's with an effective duration of up to 14 years. It employs fundamental and quantitative analysis with a bottom-up security picking approach by focusing on factors such as the relative value and attractiveness of various sectors and securities to seek to exploit pricing inefficiencies in the municipal bond market, actively trading among various sectors based on their apparent values, general economic and monetary conditions, prevailing interest rates and the condition of the general money market and the municipal bond market, the size of a particular offering, the maturity of the obligation, and the rating of the issue to create its portfolio. The fund was formerly known as Dreyfus Municipal Bond Infrastructure Fund, Inc. BNY Mellon Municipal Bond Infrastructure Fund, Inc. was formed on April 25, 2013 and is domiciled in the United States.

Royce Small-Cap Trust Inc.

Royce Value Trust Inc. is a close ended equity mutual fund launched and managed by Royce & Associates, LLC. It invests in the public equity markets of the United States. The fund spreads its investments across diversified sectors. It invests in value oriented stocks of small cap and micro cap companies. The fund benchmarks the performance of its portfolio against the Russell 2000 Index. Royce Value Trust Inc. was formed on July 1, 1986 and is domiciled in the United States.