BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. (NYSE: DCF) (the “Fund”) announced today that it has successfully completed its liquidation process as of November 25, 2024, in line with its investment objectives and organizational guidelines. The liquidation marks the culmination of the Fund’s operations, which were designed with a target termination date in mind.
Completion of the Fund’s Liquidation
The Fund, which primarily invested in global credit markets, has fulfilled its planned strategy, and as a result, the liquidation process has been completed. As part of this process, the Fund’s assets were sold, and the proceeds were distributed to shareholders in accordance with the terms set out in the Fund’s organizational documents.
Role of BNY Mellon Investment Adviser
BNY Mellon Investment Adviser, Inc., the Fund’s investment adviser, is a key division of BNY Investments. As of September 30, 2024, BNY Investments manages $2.1 trillion in assets and offers a broad range of investment solutions across all major asset classes. This client-first approach is a testament to the company’s commitment to delivering specialized expertise and innovative strategies to investors globally.
BNY Investments leverages the scale and breadth of The Bank of New York Mellon Corporation (BNY) to provide robust investment options and services. The division is a critical part of BNY, a global leader in capital markets, with $52.1 trillion in assets under custody and/or administration as of September 30, 2024. Established in 1784, BNY is America’s oldest bank and continues to offer comprehensive financial services worldwide.
About Closed-End Funds and Investment Considerations
The Fund was structured as a closed-end fund, which means its shares were traded on secondary markets through stock exchanges. Closed-end funds like this one offer investors the ability to buy and sell shares, but these shares can trade at either a premium or a discount to the net asset value (NAV) of the Fund’s underlying portfolio.
While closed-end funds can offer attractive opportunities, it’s important to note that the investment returns and principal values of these funds can fluctuate. This means that an investor’s shares could be worth more or less than their original purchase price. Therefore, there is no assurance that the Fund will always achieve its investment objectives, and investors should carefully consider the potential risks involved.
BNY Mellon’s Heritage and Commitment
The completion of the liquidation is a significant milestone in the Fund’s lifecycle. As a part of BNY Mellon’s broader portfolio of investment solutions, BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. reflects the firm’s long-standing dedication to managing and servicing clients’ financial assets throughout their investment journey.
BNY Mellon, known for its rich history since its establishment in 1784, continues to be a global leader in financial services. The corporation powers capital markets worldwide and provides essential investment solutions to clients across the globe.
Additional Information
BNY Investments, which includes BNY Mellon Investment Adviser, Inc., remains a key player in the global investment management landscape. Through its seven investment firms, it offers specialized strategies and solutions across a wide array of asset classes. Investors can find more details on BNY Investments and its comprehensive range of services at www.bny.com/investments or by following the company on LinkedIn for the latest updates and insights.
As of September 30, 2024, BNY Mellon’s assets under custody and/or administration totaled $52.1 trillion, reinforcing its position as a pillar of the global financial market infrastructure.
