Adviser Consolidation
Key Highlights
- ➤Adviser Consolidation effective on or about January 1, 2027, subject to regulatory requirements
- ➤BNY Investments Corporation will become the surviving consolidated investment firm
- ➤Fund shareholders will not vote because no actual control or management change occurs
- ➤Fund management fee, portfolio managers, services, and investment policies are expected unchanged
- ➤Fund renamed BNY High Yield Strategies Fund on the Effective Date
BNY Mellon High Yield Strategies Fund (NYSE: DHF) (the "Fund")
The Bank of New York Mellon Corporation intends to consolidate several of its U.S. investment firms (the "Adviser Consolidation"), effective, subject to regulatory requirements, on or about January 1, 2027 (the "Effective Date"). The Adviser Consolidation will be effected via corporate mergers, with the surviving consolidated firm to be named "BNY Investments Corporation." BNY Mellon Investment Adviser, Inc. ("BNYIA"), the Fund's investment adviser, is involved in the Adviser Consolidation. Accordingly, the Board of Trustees of the Fund approved a new management agreement ("Management Agreement") for the Fund with BNY Investments Corporation, effective on the Effective Date. The new Management Agreement is substantially similar in all material respects to the Fund's existing management agreement.
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