NEW YORK - BNY Mellon High Yield Strategies Fund (NYSE:DHF) announced that its sub-adviser, Alcentra NY, LLC, has changed its name to BSP NY LLC, effective immediately.
According to a press release statement, all references to Alcentra NY, LLC and Alcentra in the fund's documentation will be replaced with BSP NY LLC and BSP, respectively.
The fund continues to be managed by BNY Mellon Investment Adviser, Inc., which is part of BNY Investments, an asset manager with $2.2 trillion in assets under management as of December 31, 2025.
BNY Investments operates as a division of BNY, which holds $59.3 trillion in assets under custody and/or administration as of the end of 2025. BNY, established in 1784, is the corporate brand of The Bank of New York Mellon Corporation (NYSE:BK). InvestingPro data shows BK has maintained dividend payments for 56 consecutive years and is currently trading at a P/E ratio of 16.06, with a market capitalization of $81.81 billion. The stock has delivered an impressive 45.76% return over the past year and appears slightly undervalued according to InvestingPro's Fair Value assessment.
BNY Mellon High Yield Strategies Fund is a closed-end fund traded on stock exchanges. Like other closed-end funds, its shares may trade at prices above or below the net asset value of the fund's portfolio on the secondary market. For investors seeking deeper insights into BK and over 1,400 other US equities, InvestingPro offers comprehensive Pro Research Reports with actionable intelligence for smarter investing decisions.
In other recent news, the Bank of New York Mellon Corporation has announced several key developments. The company reported the issuance of $1.55 billion in senior medium-term notes due in 2030, including $1.25 billion in fixed rate/floating rate callable senior notes and $300 million in floating rate callable senior notes. These notes are part of the company's Series J medium-term notes program and were issued under a registration statement on Form S-3. Additionally, BNY Mellon has made executive leadership changes, with Adam Vos appointed as Global Head of Wealth Solutions to oversee BNY Pershing and BNY Archer Managed Account Solutions.
In terms of analyst activity, RBC Capital has raised its price target for BNY Mellon to $130, maintaining a Sector Perform rating. Similarly, Keefe, Bruyette & Woods and Goldman Sachs have increased their price targets to $143, with both firms acknowledging BNY Mellon's strong quarterly performance and profitability targets. Keefe, Bruyette & Woods highlighted the bank's medium-term profitability targets, including a pre-tax margin of 38% or higher and a return on tangible common equity of 28% or higher. Meanwhile, Goldman Sachs emphasized the company's earnings beat and projected mid-teens percentage EPS growth trajectory.
This article was generated with the support of AI and reviewed by an editor.