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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.
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