Bank New York Mellon Corp Stock Price, News & Analysis

BNY Mellon has announced the sale of its indirect equity interest in Alcentra to Franklin Templeton, with expected completion in Q4 2022. Following the transaction, the portfolio managers of BNY Mellon High Yield Strategies Fund will exclusively manage the fund under Alcentra. A sub-advisory agreement will be submitted for shareholder approval. Importantly, there will be no increase in advisory fees as a result of this transaction. Alcentra currently manages over $39 billion in assets, indicating strong expertise in investment strategies.

Franklin Templeton has agreed to acquire BNY Alcentra Group Holdings from BNY Mellon for $350 million in cash and up to $350 million in contingent payments, aiming to enhance its alternative asset strategies. This deal will double Benefit Street Partners’ AUM to $77 billion and augment Franklin's total to $257 billion. The acquisition is expected to close early in Q1 2023, subject to regulatory approvals. It represents a strategic expansion into European credit markets, increasing Franklin's global credit capabilities.

On May 24, 2022, the Board of Trustees for BNY Mellon High Yield Strategies Fund (NYSE: DHF) announced a monthly cash dividend of $0.0185 per share, payable on June 23, 2022. Shareholders of record on June 8, 2022 will receive this dividend. The ex-dividend date is set for June 7, 2022. This dividend amount matches the previous month's dividend of $0.0185. BNY Mellon Investment Management oversees the fund, managing $2.3 trillion in assets as of March 31, 2022.

BNY Mellon CFO Emily Portney will present at the Morgan Stanley US Financials, Payments & CRE Conference on June 15, 2022, at 8:45 a.m. ET. The event may include forward-looking statements and crucial financial insights. A live audio webcast will be accessible on the BNY Mellon website, with an archived version available approximately 24 hours post-event until July 14, 2022. As of March 31, 2022, BNY Mellon managed $45.5 trillion in assets under custody and $2.3 trillion in assets under management, servicing clients globally.

BNY Mellon Investment Management has launched a suite of model portfolios in partnership with UBS Wealth Management to cater to income-seeking investors. These portfolios, accessible through UBS's ACCESS platform, include three distinct strategies: Stable Income, Strategic Income, and Growth and Income. The solutions are designed to adjust to market dynamics while focusing on consistent income generation. BNY Mellon manages over $28 billion in assets, and the new offerings aim to enhance investment options for clients.

BNY Mellon will announce its financial results for the second quarter 2022 on July 15, 2022, with materials available online at 6:30 a.m. ET. A conference call will follow at 8 a.m. ET, featuring forward-looking statements and essential financial information. Analysts and investors can access the call by dialing +1 800-390-5696 (U.S.) or +1 720-452-9082 (International), using passcode 200200. Replays will be available from 2 p.m. ET on the same day until August 15, 2022. BNY Mellon reported $45.5 trillion in assets under custody as of March 31, 2022.

BNY Mellon Alcentra Global Multi-Strategy Credit Fund announced the final results of its quarterly tender offer, which expired on May 13, 2022. The tender was oversubscribed, with 272,622 shares tendered. The Fund will purchase 56,978 shares from all tendering shareholders on a pro rata basis, yielding a pro-ration factor of 0.20957. The purchase price is set at $98.03, reflecting 100% of the Fund's net asset value per share as of March 31, 2022.