BNY Mellon Alcentra Global
Multi-Strategy Credit Fund, Inc.

  • TICKER XALCX
  • Fund Code 0816
  • CUSIP 05589D109

Investment Objective

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. The Fund's investment objective is fundamental and may not be changed without prior approval of the Fund's shareholders.

Distribution Rate
Pending  
Commencement of Operations
08/30/19
Fund Term
6 years
Net Assets
$264,103,603  As of 11/01/2019
Managed Assets
Pending   
Total Leverage
Pending   
Average Effective Maturity
Pending   
Average Effective Duration
Pending   
Portfolio Turnover Rate
Pending   
Number of Holdings
Pending   
Benchmark
Pending   
Morningstar Category
Pending   
Fund Status

Closed to new investors.

 

Distribution Rate is calculated by multiplying the most recent quarterly distribution by 4 and dividing by the fund’s quarterly net asset value as of the date stated.

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.

Portfolio Managers

  • Chris Barris

    Portfolio Manager,
    Alcentra NY LLC
    Since inception of the fund

  • Kevin Cronk, CFA

    Portfolio Manager,
    Alcentra NY LLC
    Since inception of the fund

  • Hiram Hamilton

    Portfolio Manager,
    Alcentra NY LLC
    Since inception of the fund

  • Leland Hart

    Portfolio Manager,
    Alcentra NY LLC
    Since inception of the fund

  • Vijay Rajguru

    Vijay Rajguru

    Portfolio Manager,
    Alcentra NY LLC
    Since inception of the fund

  • Suhail A. Shaikh

    Suhail A. Shaikh

    Portfolio Manager,
    Alcentra NY LLC
    Since inception of the fund


Portfolio Manager/Sub-Investment Adviser

BNY Mellon Investment Adviser, Inc. is the Fund's investment manager, and has engaged its affiliate, Alcentra NY, LLC ("Alcentra"), to serve as the Fund's sub-investment adviser. BNY Mellon Investment Adviser, Inc. and Alcentra are subsidiaries of The Bank of New York Mellon Corporation.

 

Literature

PRODUCT INFORMATION


Regulatory Documents


SEC LINK

An investment in the fund’s common shares may be speculative and it involves a high degree of risk. There is no assurance that the fund will achieve its investment objective. The fund should not constitute a complete investment program. Asset allocation and diversification cannot assure a profit or protect against loss.

The fund does not intend to list its common shares on any securities exchange. The fund is appropriate only for long-term investors who are prepared to hold their common shares through the term of the fund, or until the fund accepts an investor’s common shares for repurchase in a tender offer, if any. It is appropriate only for investors who are seeking an investment in less liquid portfolio investments in an illiquid fund. Investors should not expect to be able to sell their shares regardless of how the fund performs and, as a result, investors may be unable to reduce their exposure during any market downturn.

The fund intends, but is not obligated, to conduct quarterly tender offers for up to 2.5% of the common shares then outstanding, beginning approximately one year after completion of the offering. There may be periods during which no tender offer is made, and it is possible that no tender offers will be conducted during the term of the fund. The fund’s term also may be extended by its board of directors, without shareholder approval, by up to one year. Although it is anticipated that the fund will have distributed substantially all of its net assets to shareholders as soon as practicable after the fund is terminated, securities for which no market exists or securities trading at depressed prices, may be placed in a liquidating trust. Securities placed in a liquidating trust may be held for an indefinite period of time, potentially several years or longer, until they can be sold or pay out all of their cash flows.

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. Any rebalancing of the Fund’s portfolio may have an adverse effect on the performance of the Fund and may be subject to certain additional limits and constraints. There can be no assurance that the decisions of the Fund’s primary portfolio managers with respect to the allocation and reallocation of the Fund’s managed assets among the credit strategies, or that an investment within a particular credit strategy, will be successful.

Risks of Investing in Credit Instruments. Credit instruments in which the Fund will invest are particularly susceptible to the risks such as:

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. Losses may occur because the market value of a credit instrument is affected by the creditworthiness or perceived creditworthiness of the issuer and by general economic and specific industry conditions and certain of the Fund’s investments will be subordinate to other debt in the issuer’s capital structure. Because the Fund generally expects to invest a significant portion of its managed assets in below investment grade instruments it will be exposed to a greater amount of credit risk than a fund which invests primarily in investment grade securities.

Interest Rate Risk. Prices of fixed rate credit instruments tend to move inversely with changes in interest rates. Typically, a rise in rates will adversely affect these instruments and, accordingly, the Fund’s net asset value. During periods of very low interest rates, the Fund may be subject to a greater risk of principal decline from rising interest rates.

The Fund may invest all of its assets in below investment grade instruments, which are regarded as predominantly speculative with respect to the issuer’s capacity to pay interest and repay principal. Below investment grade instruments, though generally higher yielding, are characterized by higher risk. These instruments are especially sensitive to adverse changes in general economic conditions, to changes in the financial condition of their issuers and to price fluctuation in response to changes in interest rates.

Leverage Risk. The Fund anticipates incurring leverage as part of its investment strategy. All costs and expenses related to any form of leverage used by the Fund will be borne entirely by common shareholders. If the income and gains earned on the securities and investments purchased with leverage proceeds are greater than the cost of the leverage, the return on the Common Shares will be greater than if leverage had not been used. Conversely, if the income and gains from the securities and investments purchased with such proceeds do not cover the cost of leverage, the return on the Common Shares will be less than if leverage had not been used. There is no assurance that a leveraging strategy will be successful.

An investment in this fund presents a number of risks and is not suitable for all investors. Investors should carefully review and consider all potential risks.

Past performance is no guarantee of future results. Current performance may be higher or lower than the data shown.

MARK-74196-2019-08-19