Please ensure Javascript is enabled for purposes of website accessibility

    BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. (DCF)

    • CUSIP 05588N108
    • NAV  $ 8.84 As of  04/22/24
    • CHG  $ 0.02 (0.23 %)
    • MKT PRICE  $8.50 As of  04/22/24
    • CHG  $0.01 (0.12 %)
    • Ann. Dist. Rate 4.88% As of  03/31/24
    • Premium/Discount -3.85% As of  04/22/24

    Why invest in this Fund?

    • Seeks to provide high current income for today's yield-challenged market
    • Dynamic, multi-asset portfolio designed to access multiple sub-investment grade credit opportunities for enhanced yield potential with active risk management.
    • Global strategy for expanded opportunities in the U.S. and Western European credit markets.
    • Target term structure that seeks to return at least $9.835 per Common Share (the original NAV) to holders of record at the end of the Fund's term. (Please review the disclosure below)
    • Time-tested and experienced management by Alcentra NY, LLC, a recognized leader in global credit investing.

    – On or about December 1, 2024 the Fund will terminate. The termination date is subject to changes and/or extensions.

    The objective to return at least the Fund's original NAV is not an express or implied guarantee obligation of the Fund, or any other entity, and an investor may receive less than the original NAV upon termination of the Fund. There is no assurance the Fund will achieve its investment objective

    INCEPTION DATE
    10/27/17
    NET ASSETS
    $133,605,932  As of  03/31/24
    MANAGED ASSETS
    $182,605,932  As of  03/31/24
    TOTAL LEVERAGE
    0.00%  As of  03/31/24
    AVERAGE EFFECTIVE MATURITY
    5.19 yr(s).  As of  03/31/24
    AVERAGE EFFECTIVE DURATION
    1.64 yr(s).  As of  03/31/24
    PORTFOLIO TURNOVER RATE
    78.40% As of  08/31/23
    Number of Holdings
    479 As of  03/31/24
    BENCHMARK
    ICE BofA Global High Yield Index
    MORNINGSTAR CATEGORY
    High Yield Bond
    DISTRIBUTION FREQUENCY
    Monthly

    Yields and Expense Ratio

    30-DAY SEC YIELD
    as of 04/22/24
    ANNUALIZED
    DISTRIBUTION RATE
    as of 03/31/24
    PROSPECTUS FEE TABLE EXPENSE RATIO (%)
    as of 08/31/21
    Subsidized Unsubsidized Net Gross Contractual
    Fee Waiver End Date
    8.26 8.26 4.88 2.42 2.42 -

    The SEC 30-day Yield is calculated by dividing the net investment income per share earned during the period (calculated in accordance with regulatory guidelines) by the maximum offering price per share on the last day of the period.

    Unsubsidized yield displays what the fund's 30-Day SEC Yield would have been had no fee waiver or expense reimbursement been in place during the period.

     

    NAV - A fund's NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding.

    Market Price - The market price is the most recent price at which the fund was traded.

    Annualized Distribution Rate - It represents the latest declared regular distribution, annualized, relative to the market price as of quarter end. Special distributions, including special capital gains distributions, are not included in the calculation. Distributions are sourced entirely from net investment income, unless otherwise noted.

    Net Assets - It is the total assets (inclusive of borrowings) minus liabilities (inclusive of borrowings).

    Managed Assets - It is the total assets of the fund, including any assets attributable to leverage, minus the fund's accrued liabilities, other than any liabilities or obligations attributable to leverage.

    Total Leverage - It is the amount of borrowed funds used to purchase assets in order to potentially enhance returns.

    Average Effective Maturity (AEM) - is a measure of maturity that takes into account the possibility that a bond might be called back by the issuer. For a portfolio of bonds, average effective maturity is the weighted average of the maturities of the underlying bonds.

    Average Effective Duration - It is used to measure the market price sensitivity of the fund’s portfolio holdings to changes in interest-rates. Duration is not a complete measure of bond risk and may not be successful.

    Portfolio Turnover Rate - It is a measure of how quickly securities in a fund are either bought or sold by the fund's managers, over a given period of time.

    Portfolio Managers

    • Chris Barris

      Chris Barris

      Global HY Portfolio Manager, Alcentra NY, LLC

      Managing Fund Since Inception

      Joined Firm in 2013

      Joined Industry in 1994

    • Kevin  Cronk

      Kevin Cronk, CFA

      US Loan Portfolio Manager, Alcentra NY, LLC

      Managing Fund Since Inception

      Joined Firm in 2013

      Joined Industry in 1996

    • Brandon Chao

      Brandon Chao

      Portfolio Manager,

      Managing Fund Since 2022

      Joined Firm in 2017

      Joined Industry in 2005

    Daily Statistics

    As of  04/22/24
    NAME NAV NAV 
    CHANGE
    MARKET 
    PRICE
    MARKET 
    PRICE 
    CHANGE
    PREMIUM/ 
    DISCOUNT
    BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc.
    $8.84
    $0.02
    0.23%
    $8.50
    $0.01
    0.12%
    -3.85%

    Premium / Discount - The amount the fund is trading above or below the reported NAV expressed as a percentage of the NAV. When the fund's market price is greater than the fund's NAV, it is said to be trading at a "Premium" and the percentage is expressed as a positive number. When the fund's market price is less than the fund's NAV, it is said to be trading at a "Discount" and the percentage is expressed as a negative number.

    Market Price performance is determined using the bid/ask midpoint at 4:00 p.m. Eastern time, when the NAV is typically calculated. Market performance does not represent the returns you would receive if you traded shares at other times.

     

    Monthly Statistics

    As of 03/31/24 NAME 52 WEEK 
    AVERAGE 
    PREMIUM/DISCOUNT
    52 WEEK 
    LOW/HIGH 
    MARKET PRICE
    BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc.
    -3.37% $7.42-$8.63

    Total Returns

    MARKET PRICE
    Click here for NAV Returns 

    The performance data quoted represents past performance, which is no guarantee of future results.  Share price, yield and investment return fluctuate and an investor's shares may be worth more or less that the original cost.

    Total return based on market price represents changes to the fund's closing market price on its primary exchange. Total return based on net asset value (NAV) reflects changes in the fund's NAV during each period.

    Returns are shown net of fund expenses and assumes the reinvestment of all distributions. Investors who purchase shares of the fund through an investment advisor or other financial professional may separately pay a fee to that service provider.

    The ICE BofA Global High Yield Constrained Index contains all securities in the ICE BofA Global High Yield Index but caps issuer exposure at 2%. The BofA Global High Yield Index tracks the performance of USD-, CAD-, GBP- and EUR-denominated below-investment-grade corporate debt publicly issued in the major domestic or eurobond markets. Investors cannot invest directly in any index.

    Growth of $10,000 Investment at Market Price

    Historical NAV and Market Price Trailing Twelve Months

      Historical Premium/Discount Trailing Twelve Months

      Historical Performance

        Past performance is no guarantee of future results.

        Returns are shown net of fund expenses and assumes the reinvestment of all distributions.

        Expense Ratio

        As of  08/31/21
         Fee Description Total Expense Ratio (%)
        Management Fee 1.19%
        Other Expenses 0.47%
        Interest Expense 0.76%
        Total Expenses 2.42%
        Net Expenses 2.42%

        Total Expenses is the total annual operating expense ratio for the fund, before any fee waivers or expense reimbursements. Net Expenses is the total annual operating expense ratio for the fund, after any applicable fee waivers or expense reimbursements. The Total Expenses, or Net Expenses (if including fee waivers or expense reimbursements) is the actual fund expense ratio applicable to investors.

        Please see the fund's Annual Report for full information on expenses.


        Portfolio Manager

        BNY Mellon Investment Adviser, Inc. is the fund's investment adviser, and has engaged Alcentra NY, LLC ("Alcentra"), to serve as the fund's sub-adviser. Alcentra is a global asset management firm focused on sub-investment grade corporate credit. Chris Barris, Kevin Cronk, CFA, and Brandan Chao, CFA are the fund's primary portfolio managers. Messrs. Barris and Cronk have been with the fund since August 2019. Mr. Chao has been with the fund since September 16, 2022. Alcentra brings together a depth of knowledge in sub-investment grade corporate debt that covers the entire spectrum of investment possibilities – from Secured Loans and High Yield Bonds to Direct Lending & Mezzanine, Special Situations, Structured Credit and Multi-Strategy. BNY Mellon Investment Management provides a robust corporate foundation, together with worldwide resources and administrative support that allow our investment firms the freedom to concentrate on what they do best—deliver specialist and focused investments to clients.

        Top Ten Issuers

        As of 02/29/24

        Asset Allocation

        Composition Allocation

            Main Risks

            Special Risk: An investment in the Fund involves special risk considerations, which are summarized below. The Fund is designed as a long-term investment and not as a vehicle for short-term trading purposes. An investment in the fund's Common Shares may be speculative and it involves a high degree of risk. The Fund should not constitute a complete investment program. Due to the uncertainty in all investments, there can be no assurance that the Fund will achieve its investment objectives.
            No Operating History. The Fund has no operating history and its Common Shares have no history of public trading. As a result, prospective investors have no track record or history on which to base their investment decision.
            Risk of Market Price Discount From Net Asset Value: Shares of closed-end funds frequently trade at a market price that is below their net asset value. This is commonly referred to as trading at a discount. This characteristic of shares of closed-end funds is a risk separate and distinct from the risk that the Fund's net asset value may decrease. Common Shareholders who sell their Common Shares within a relatively short period after completion of this public offering are likely to be exposed to this risk.
            Management and Allocation Risk: The Fund's primary portfolio managers will make all determinations regarding allocations and reallocations of the Fund's Managed Assets to each Credit Strategy. The percentage allocations among Credit Strategies may, from time to time, be out of balance with the target allocations set by the fund's primary portfolio managers due to various factors, such as varying investment performance among Credit Strategies, illiquidity of certain portfolio investments or a change in the target allocations. Any rebalancing of the Fund's portfolio, whether pursuant to a fixed percentage allocation or otherwise, may have an adverse effect on the performance of the Fund and may be subject to certain additional limits and constraints.
            Seven-Year Term Risk: It is anticipated that the Fund will terminate on or about December 1, 2024, subject to certain extensions described herein. As the assets of the Fund will be liquidated in connection with its termination, the Fund may be required to sell portfolio securities when it otherwise would not, including at times when market conditions are not favorable, which may cause the Fund to lose money.
            Investment and Market Risk: An investment in the Fund is subject to investment risk, including the possible loss of the entire amount that you invest. Your investment in Common Shares represents an indirect investment in the credit instruments and other investments and assets owned by the Fund. The value of the Fund's portfolio securities may move up or down, sometimes rapidly and unpredictably.
            Principal Risks of the Use of Derivatives: The Fund will be subject to additional risks with respect to its use of derivatives. A small investment in derivatives could have a potentially large impact on the Fund?s performance. The use of derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in the underlying assets.
            Risks of Investing in Credit Instruments: Under normal market conditions, the Fund will invest at least 80% of its Managed Assets in credit instruments and other investments with similar economic characteristics. Credit instruments are particularly susceptible to the following risks:
            Issuer Risk: The market value of credit instruments may decline for a number of reasons that directly relate to the issuer, such as management performance, financial leverage and reduced demand for the issuer's goods and services.
            Credit Risk: Credit risk is the risk that one or more credit instruments in the Fund's portfolio will decline in price or fail to pay interest or principal when due because the issuer of the instrument experiences a decline in its financial status.
            Foreign Investment Risk: Investing in foreign denominated and/or domiciled securities involves special risks, including changes in currency exchange rates, political, economic, and social instability, limited company information, differing auditing and legal standards, and less market liquidity. These risks generally are greater with emerging market countries.
            Equity Risk: Equity funds are subject generally to market, market sector, market liquidity, issuer and investment style risks, among other factors, to varying degrees, all of which are more fully described in the fund's prospectus.

            Risk Metrics

            As of  03/31/24  3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
            DCF
            9.08 6.14 0.73 34.98 0.27

            All risk metrics are provided by Morningstar. The index used in the calculations are determined by Morningstar which may not be the funds primary benchmark. The index Morningstar used for this analysis is Bloomberg U.S. Aggregate Bond Index.

             

            Standard Deviation - Standard deviation is a statistical measure of the degree to which an individual portfolio return tends to vary from the mean, based on the entire population. The greater the degree of dispersion, the greater the degree of risk. In mutual funds, the standard deviation tells us how much the return on the fund is deviating from the expected normal returns.

            Alpha - Alpha is a measure of a security's or portfolio's excess return.

            Beta - Beta is a measure of a security’s or portfolio’s volatility, or systematic risk.

            R-Squared - R-squared is a statistical measure that represents the percentage of a fund’s or security’s movements that are explained by movements in a benchmark index.

            Sharpe Ratio - Sharpe ratio is a risk-adjusted measure that measures reward per unit of risk. The higher the Sharpe ratio, the better.

             


            Dividend Schedule

            Declared
            Monthly
            Distributed
            Monthly
            Paid
            Monthly
            Fiscal Year End
            Aug 31

            Distributions History

            RECORD DATE EX-DIVIDEND DATE PAYABLE DATE DIVIDEND INCOME SHORT-TERM
            CAPITAL GAIN
            LONG-TERM
            CAPITAL GAIN
            TOTAL DISTRIBUTION
            04/11/24 04/10/24 04/25/24 0.0350 - 0.0000 0.0350
            RECORD DATE EX-DIVIDEND DATE PAYABLE DATE DIVIDEND INCOME SHORT-TERM
            CAPITAL GAIN
            LONG-TERM
            CAPITAL GAIN
            TOTAL DISTRIBUTION
            03/07/24 03/06/24 03/21/24 0.0350 0.0000 0.0000 0.0350
            02/08/24 02/07/24 02/23/24 0.0350 0.0000 0.0000 0.0350
            12/28/23 12/27/23 01/12/24 0.0350 0.0000 0.0000 0.0350
            12/07/23 12/06/23 12/21/23 0.0350 0.0000 0.0000 0.0350
            11/09/23 11/08/23 11/27/23 0.0350 0.0000 0.0000 0.0350
            10/12/23 10/11/23 10/26/23 0.0350 0.0000 0.0000 0.0350
            09/08/23 09/07/23 09/22/23 0.0350 0.0000 0.0000 0.0350
            08/09/23 08/08/23 09/01/23 0.0350 0.0000 0.0000 0.0350
            07/13/23 07/12/23 07/27/23 0.0350 0.0000 0.0000 0.0350
            06/09/23 06/08/23 06/26/23 0.0350 0.0000 0.0000 0.0350
            05/11/23 05/10/23 05/25/23 0.0500 0.0000 0.0000 0.0500
            04/13/23 04/12/23 04/27/23 0.0500 0.0000 0.0000 0.0500
            03/10/23 03/09/23 03/24/23 0.0500 0.0000 0.0000 0.0500
            02/09/23 02/08/23 02/24/23 0.0500 0.0000 0.0000 0.0500
            12/29/22 12/28/22 01/13/23 0.0500 0.0000 0.0000 0.0500
            12/07/22 12/06/22 12/21/22 0.0500 0.0000 0.0000 0.0500
            11/08/22 11/07/22 11/23/22 0.0500 0.0000 0.0000 0.0500
            10/13/22 10/12/22 10/27/22 0.0500 0.0000 0.0000 0.0500
            09/09/22 09/08/22 09/23/22 0.0500 0.0000 0.0000 0.0500
            08/11/22 08/10/22 09/01/22 0.0500 0.0000 0.0000 0.0500
            07/08/22 07/07/22 07/22/22 0.0500 0.0000 0.0000 0.0500
            06/09/22 06/08/22 06/24/22 0.0500 0.0000 0.0000 0.0500
            05/10/22 05/09/22 05/24/22 0.0500 0.0000 0.0000 0.0500
            04/08/22 04/07/22 04/25/22 0.0500 0.0000 0.0000 0.0500
            03/10/22 03/09/22 03/24/22 0.0500 0.0000 0.0000 0.0500
            02/10/22 02/09/22 02/25/22 0.0500 0.0000 0.0000 0.0500
            12/21/21 12/20/21 01/06/22 0.0500 0.0000 0.0000 0.0500
            12/08/21 12/07/21 12/22/21 0.0500 0.0000 0.0000 0.0500
            11/09/21 11/08/21 11/24/21 0.0500 0.0000 0.0000 0.0500
            10/14/21 10/13/21 10/28/21 0.0500 0.0000 0.0000 0.0500
            09/10/21 09/09/21 09/24/21 0.0500 0.0000 0.0000 0.0500
            08/11/21 08/10/21 09/01/21 0.0500 0.0000 0.0000 0.0500
            07/08/21 07/07/21 07/22/21 0.0500 0.0000 0.0000 0.0500
            06/09/21 06/08/21 06/23/21 0.0500 0.0000 0.0000 0.0500
            05/12/21 05/11/21 05/26/21 0.0500 0.0000 0.0000 0.0500
            04/09/21 04/08/21 04/23/21 0.0500 0.0000 0.0000 0.0500
            03/11/21 03/10/21 03/25/21 0.0500 0.0000 0.0000 0.0500
            02/09/21 02/08/21 02/24/21 0.0500 0.0000 0.0000 0.0500
            12/30/20 12/29/20 01/13/21 0.0500 0.0000 0.0000 0.0500
            12/08/20 12/07/20 12/22/20 0.0500 0.0000 0.0000 0.0500
            11/10/20 11/09/20 11/25/20 0.0500 0.0000 0.0000 0.0500
            10/14/20 10/13/20 10/28/20 0.0500 0.0000 0.0000 0.0500
            09/11/20 09/10/20 09/25/20 0.0500 0.0000 0.0000 0.0500
            08/12/20 08/11/20 09/01/20 0.0500 0.0000 0.0000 0.0500
            07/08/20 07/07/20 07/22/20 0.0500 0.0000 0.0000 0.0500
            06/10/20 06/09/20 06/24/20 0.0500 0.0000 0.0000 0.0500
            05/13/20 05/12/20 05/28/20 0.0500 0.0000 0.0000 0.0500
            04/08/20 04/07/20 04/23/20 0.0540 0.0000 0.0000 0.0540
            03/12/20 03/11/20 03/26/20 0.0540 0.0000 0.0000 0.0540
            02/10/20 02/07/20 02/25/20 0.0540 0.0000 0.0000 0.0540
            12/31/19 12/30/19 01/15/20 0.0540 0.0000 0.0000 0.0540
            12/11/19 12/10/19 12/27/19 0.0540 0.0000 0.0000 0.0540
            11/07/19 11/06/19 11/22/19 0.0540 0.0000 0.0000 0.0540
            10/10/19 10/09/19 10/25/19 0.0540 0.0000 0.0000 0.0540
            09/11/19 09/10/19 09/25/19 0.0540 0.0000 0.0000 0.0540
            08/13/19 08/12/19 09/03/19 0.0540 0.0000 0.0000 0.0540
            07/11/19 07/10/19 07/25/19 0.0540 0.0000 0.0000 0.0540
            06/11/19 06/10/19 06/25/19 0.0540 0.0000 0.0000 0.0540
            05/09/19 05/08/19 05/23/19 0.0540 0.0000 0.0000 0.0540
            04/08/19 04/05/19 04/23/19 0.0540 0.0000 0.0000 0.0540
            03/12/19 03/11/19 03/26/19 0.0540 0.0000 0.0000 0.0540
            02/12/19 02/11/19 02/27/19 0.0540 0.0000 0.0000 0.0540
            12/31/18 12/28/18 01/16/19 0.0410 0.0000 0.0130 0.0540
            12/11/18 12/10/18 12/26/18 0.0000 0.0000 0.0540 0.0540
            11/07/18 11/06/18 11/26/18 0.0540 0.0000 0.0000 0.0540
            10/11/18 10/10/18 10/25/18 0.0540 0.0000 0.0000 0.0540
            09/13/18 09/12/18 09/27/18 0.0540 0.0000 0.0000 0.0540
            08/14/18 08/13/18 09/04/18 0.0540 0.0000 0.0000 0.0540
            07/11/18 07/10/18 07/25/18 0.0540 0.0000 0.0000 0.0540
            06/13/18 06/12/18 06/27/18 0.0540 0.0000 0.0000 0.0540
            05/10/18 05/09/18 05/24/18 0.0540 0.0000 0.0000 0.0540
            04/10/18 04/09/18 04/24/18 0.0540 0.0000 0.0000 0.0540
            03/14/18 03/13/18 03/28/18 0.0540 0.0000 0.0000 0.0540
            02/12/18 02/09/18 02/27/18 0.0540 0.0000 0.0000 0.0540
            01/17/18 01/16/18 01/31/18 0.0540 0.0000 0.0000 0.0540
            12/15/17 12/14/17 01/02/18 0.0540 0.0000 0.0000 0.0540
            See all rows...

            Distributions are sourced entirely from net investment income, unless noted otherwise. If the fund estimates that a portion of its distribution may be comprised of amounts from sources other than net investment income in accordance with its policies and accounting practices, the fund will notify shareholders of the estimated composition of such distribution through a Section 19 Notice.

            Tax consequences of dividend or capital gain distributions may vary by individual taxpayer. There is no guarantee that dividends will be paid. You should not draw any conclusions about the Fund's investment performance from the amount of the fund's distributions. Trading CEFs will also generate tax consequences and transaction expenses. This information is general in nature and is not intended to constitute tax advice. Please consult your own legal or tax advisor for more detailed information on tax issues and advice as they relate to your specific situation.

            Literature

            Announcements

            • Download
            • Share
            • Subscribe
            • Order
            DCF Dividend Declaration Press Release March 2023

            PRODUCT INFORMATION

            • Download
            • Share
            • Subscribe
            • Order
            BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. - Commentary Download

            Reports

            • Download
            • Share
            • Subscribe
            • Order
            Factsheet Download
            Annual Report Download
            Semi Annual Report Download
            1Q Fiscal Holdings Download
            3Q Fiscal Holdings Download

            Shares of closed-end funds (CEF) are sold in the open market through a stock exchange. Shares may only be purchased or sold through registered broker/dealers. Closed-end funds, unlike open-end funds, are typically not continuously offered.

            Closed-end fund shares are not deposits or obligations of, or guaranteed by, any bank and are not insured by the FDIC or any other agency. CEFs are subject to investment risk, including possible loss of principal amount invested. An investment in the fund may be speculative and it involves a high degree of risk. No assurance can be given that a fund will achieve its investment objective. An investment in CEFs presents a number of risks and is not appropriate for all investors. Investors should carefully review and consider potential risks before investing. Please see Main Risks section above for additional information regarding investment risks.

            This material is for informational purposes only and should not be considered as investment advice or a recommendation of any particular investment, strategy, or investment manager, and should not serve as a primary basis for investment decisions. Please consult with you own tax, legal or financial professional regarding your particular situation.

            For additional information on the fund, please refer to the fund's most recent shareholder report.

            Alcentra is not affiliated with BNY Mellon.

            MARK-483348-2024-01-17