Adviser Consolidation

The funds anticipate retaining their portfolio managers without higher management fees or reduced services.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

BNY Mellon Municipal Bond Infrastructure Fund, Inc. (NYSE: DMB)
BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE: DSM)
BNY Mellon Strategic Municipals, Inc. (NYSE: LEO)
(each, a "Fund")

NEW YORK--(BUSINESS WIRE)-- The Bank of New York Mellon Corporation intends to consolidate several of its U.S. investment firms (the "Adviser Consolidation"), effective, subject to regulatory requirements, on or about January 1, 2027 (the "Effective Date"). The Adviser Consolidation will be effected via corporate mergers, with the surviving consolidated firm to be named "BNY Investments Corporation." BNY Mellon Investment Adviser, Inc. ("BNYIA"), each Fund's investment adviser, and Insight North America LLC ("INA"), each Fund's sub-investment adviser, are involved in the Adviser Consolidation. Accordingly, the Board of Trustees of each Fund approved a new management agreement ("Management Agreement") for each Fund with BNY Investments Corporation and terminated the sub-investment advisory agreement with INA, effective on the Effective Date. The new Management Agreement is substantially similar in all material respects to each Fund's existing management agreement.

It is currently anticipated that each Fund's portfolio managers from INA who are responsible for the day-to-day management of each Fund's investments will continue to manage each Fund's investments as of the Effective Date as portfolio managers for BNY Investments Corporation. It is also currently anticipated that there will be no material changes to each Fund's investment objective, strategies or policies, no reduction in the nature, quality or level of services provided to each Fund, and no increase in the management fee payable by each Fund as a result of the Adviser Consolidation.

The Adviser Consolidation will not involve a change in actual control or management of BNYIA or INA. Because there is no actual change in control or management of BNYIA or INA, the Adviser Consolidation does not constitute an "assignment" of each Fund's management or sub-investment advisory agreements for purposes of the Investment Company Act of 1940, as amended, and, therefore, a shareholder vote is not required.

Branding Initiative

The Bank of New York Mellon Corporation is currently engaged in a global brand strategy initiative with the aim of building a global investment brand for BNY Investments. In connection with this initiative, "BNY Mellon" is being replaced with "BNY" to align with the BNY Investments brand. Accordingly, on the Effective Date, the Funds' names will be changed as follows:

Current Names	New Name
BNY Mellon Municipal Bond Infrastructure Fund, Inc.	BNY Municipal Bond Infrastructure Fund, Inc.
BNY Mellon Strategic Municipal Bond Fund, Inc.	BNY Strategic Municipal Bond Fund, Inc.
BNY Mellon Strategic Municipals, Inc.	BNY Strategic Municipals, Inc.

Important Information

BNYIA is part of BNY Investments. BNY Investments is one of the world's largest asset managers, with $1.2 trillion in assets under management as of September 30, 2026. Through a client-first approach, BNY Investments brings investors specialist expertise through its seven investment firms offering solutions across every major asset class and backed by the breadth and scale of BNY. Additional information on BNY Investments is available on www.bny.com/investments. Follow us on LinkedIn for the latest company news and activity.

BNY Investments is a division of BNY, which has $63.4 trillion in assets under custody and/or administration as of September 30, 2026. Established in 1784, BNY is America's oldest bank. Today, BNY powers capital markets around the world through comprehensive solutions that help clients manage and service their financial assets throughout the investment life cycle. BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BNY). Additional information is available on www.bny.com. Follow us on LinkedIn or visit our newsroom for the latest company news.

Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment returns and principal values will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value of the fund's portfolio. There is no assurance that the Fund will achieve its investment objective.

This release is for informational purposes only and should not be considered as investment advice or a recommendation of any particular security.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261104913259/en/

For Press Inquiries:
BNY Mellon Investment Adviser, Inc.
Jessica Greaney
jessica.greaney@bny.com
Taylor Ventrice
taylor.ventrice@bny.com
(212) 635-6027

For Other Inquiries:
BNY Mellon Securities Corporation
The National Marketing Desk
240 Greenwich Street
New York, New York 10286
1-800-334-6899

Source: BNY Closed-End Funds DMB, DSM and LEO