BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc.
- TICKER XALCX
- Fund Code 0816
- CUSIP 05589D109
The Fund's investment objective is to seek to provide total return consisting of high current income and capital appreciation. There is no assurance the Fund will achieve its investment objective.
Closed to new investors.
Annual Distribution Rate (ADR) - is the average of the 4 quarterly distributions divided by the $100 IPO price and annualized. After the fund has existed for more than 1 year, ADR calculation will be the sum of the 4 most recent distributions divided by the $100 IPO Price. Distribution rates are not performance. The fund intends to distribute all or a portion of its net investment income on a quarterly basis and any capital gains at least annually. The portion of distributions that exceeds the fund's current and accumulated earnings and profits will constitute a non-taxable return of capital (ROC). A distribution rate that includes an ROC should not be confused with yield or income. Please refer to the most recent Section 19 Notice, if applicable, for additional information regarding the composition of distributions. Final determination of a distribution's tax character will be made on Form 1099 DIV sent to shareholders each January.
Net Assets - It is the total assets (inclusive of borrowings) minus liabilities (inclusive of borrowings).
Managed Assets - means 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.
Average Effective Maturity - is the weighted average of the effective maturity dates of the fixed-income securities in the fund’s holdings.
Average Effective Duration - is used to measure the market price sensitivity of the fund’s portfolio holdings to market interest rate changes; duration is expected to change over time with changes in market factors and the time to maturity of the fund’s portfolio holdings. Effective duration incorporates certain characteristics of the fund’s portfolio holdings, such as yield, coupon payments, price and par value, final maturity (if any) and any call features. Generally, rising interest rates may lengthen the duration of the fund as portfolio holdings with call features may become less likely to be exercised as interest rates rise, making them more sensitive to changes in interest rates. Conversely, decreasing interest rates generally may shorten the fund’s duration if any call features of portfolio holdings are more likely to be exercised as a result of such interest-rate decrease, thereby making the fund less sensitive to changes in interest rates. The fund is not subject to any formal restrictions on its average portfolio maturity or on its average portfolio duration or the maturity of the individual bonds in which it invests.
Total Leverage - is the amount of borrowed funds used to purchase assets in order to potentially enhance returns.
Portfolio Manager/Sub-Investment AdviserBNY 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. Effective November 1, 2022, BNY Mellon sold its interest in Alcentra NY, LLC (the Sub-Adviser) to Franklin Resources, Inc., a global investment management organization operating as Franklin Templeton ("Franklin Templeton"). Alcentra NY, LLC will continue as a Sub-Adviser on the Fund through a new sub-advisory agreement between BNY Mellon Investment Adviser, Inc. and Alcentra NY, LLC. As of the effective date, Alcentra NY, LLC is no longer an affiliate of BNY Mellon.
Top Ten IssuersAs of 06/30/23
Past distributions are not indicative of future distributions.
Distribution rates are not performance. The fund intends to distribute all or a portion of its net investment income on a quarterly basis and any capital gains at least annually. The portion of distributions that exceeds the fund's current and accumulated earnings and profits will constitute a non-taxable return of capital (ROC). A distribution rate that includes an ROC should not be confused with yield or income. Please refer to the most recent Section 19 Notice, if applicable, for additional information regarding the composition of distributions. Final determination of a distribution's tax character will be made on Form 1099 DIV sent to shareholders each January.
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