BNY Mellon High Yield Strategies Fund
DHF
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- BNY Mellon High Yield Strategies Fund (DHF) is a diversified, closed-end management investment company that seeks high current income through investments in below-investment-grade fixed-income securities, with a secondary objective of capital appreciation. The fund primarily invests in high-yield bonds, senior loans, and other debt securities issued by U.S. and Western European companies, including those at early stages of development or with highly leveraged financial structures; it employs leverage to enhance returns and benchmarks performance against the ICE BofA U.S. High Yield Constrained Index. Managed by BNY Mellon Investment Adviser, Inc., with sub-advisory from Alcentra NY, LLC, the fund features a global high-yield strategy emphasizing credit analysis across diversified sectors. Formed on April 29, 1998, and headquartered at 240 Greenwich Street, New York, New York, the fund was formerly known as Dreyfus High Yield Strategies Fund and operates shares listed on the New York Stock Exchange under the ticker DHF. It targets income-seeking investors, including individuals and institutions, through its closed-end structure that provides a stable capital base without daily redemptions. Portfolio managers include Chris Barris, who has managed the fund since 2010, along with Kevin Cronk, CFA, Stephen Sylvester, and Josephine Shin. In recent developments, the fund maintained its monthly distribution at $0.0175 per share through 2025, with an annualized distribution rate of 8.11% as of October 31, 2025, reflecting consistent income generation amid yield-challenged markets. Director Joseph S. DiMartino purchased 20,000 shares in April 2025 at prices of $2.38 and $2.32 per share, signaling internal confidence in the fund's valuation and high-yield opportunities. The fund continues to utilize its time-tested management by Alcentra NY, LLC, a leader in global credit investing, with no reported acquisitions, partnerships, or major strategic shifts in the last 1-2 years.