Adviser Consolidation
Key Highlights
- ➤Adviser consolidation effective on or about January 1, 2027, subject to regulatory requirements
- ➤BNY Investments Corporation will replace BNYIA and INA as each Fund’s adviser
- ➤No management-fee increase or material service, objective, strategy, or policy changes anticipated
- ➤DMB, DSM, and LEO will be renamed with “BNY Mellon” replaced by “BNY”
BNY Mellon Municipal Bond Infrastructure Fund, Inc. (NYSE: DMB)
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"), each Fund's investment adviser, and Insight North America LLC ("INA"), each Fund's sub-investment adviser, are involved in the Adviser Consolidation. Accordingly, the Board of Trustees of each Fund approved a new management agreement ("Management Agreement") for each Fund with BNY Investments Corporation and terminated the sub-investment advisory agreement with INA, effective on the Effective Date. The new Management Agreement is substantially similar in all material respects to each Fund's existing management agreement.
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