Bank New York Mellon Corp Stock Price, News & Analysis

On June 22, 2022, the BNY Mellon High Yield Strategies Fund (NYSE:DHF) declared a monthly cash dividend of $0.0185 per share, to be paid on July 21, 2022, to shareholders of record as of July 7, 2022. The ex-dividend date is set for July 6, 2022. This marks the same dividend amount as the previous month. BNY Mellon Investment Management, which oversees the fund, manages approximately $2.3 trillion in assets, underscoring the strength and stability of the firm.

BNY Mellon FX achieved its best-ever ranking at the Euromoney Awards, moving to 8th place in 2022 from 32nd in 2018. The company secured 1st place in 13 categories, including Customer Satisfaction and Research, for three consecutive years. The success is attributed to enhancements in the iFlow platform and expanded FX services, including modernized Custody FX and improved eFX capabilities. As of March 31, 2022, BNY Mellon managed $2.3 trillion in assets and held $45.5 trillion in custody.

Newton Investment Management, under BNY Mellon, has set ambitious targets for achieving net zero emissions across its investment portfolios, aligning with the Net Zero Asset Managers initiative. They aim for 50% of financed emissions to be covered by credible transition plans by 2030 and 100% by 2040. Currently, 67% of their assets under management (AUM) are committed. Key strategies involve real-world decarbonization, engaging with high-emitting companies, and investing in solution providers. Progress will be monitored by a dedicated sustainability committee.

BNY Mellon Alcentra Global Credit Funds announce a significant change in control of their sub-adviser, Alcentra NY, LLC, with BNY Mellon set to sell its interest to Franklin Templeton. This transition, expected to finalize in Q4 2022, will involve the automatic termination of current sub-advisory agreements and require the approval of new agreements by the Funds' Board and shareholders. Notably, there will be no increase in advisory fees as a result of this transaction, maintaining the current fee structure. This change aims to ensure uninterrupted service for the Funds.

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.