- CEO
- Daniel A. Barton
- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 240 Greenwich Street New York City NY United States of America 10286
- IPO Date
- Nov 22, 1989
- Business
- BNY Mellon Strategic Municipal Bond Fund, Inc. (DSM) operates as a diversified closed-end management investment company that seeks to maximize current income exempt from federal income tax to the extent consistent with the preservation of capital. The fund, formed in 1989 and based in New York, ordinarily invests at least 80% of its net assets in municipal obligations, including investment-grade general obligation bonds, revenue bonds, floating and variable rate securities, municipal derivatives such as tender option bonds, and participations in municipal obligations; its portfolio spans sectors like transportation, education, medical, airports, water, power, utilities, and multifamily housing, with top holdings including Buckeye Ohio Tobacco Settlement Financing Authority bonds, Black Belt Energy Gas District Alabama revenue bonds, and Southeast Energy Authority Co-op District bonds. Managed by BNY Mellon Investment Adviser, Inc., with sub-advisory from Insight North America, LLC under portfolio managers Jeffrey Burger and Daniel Rabasco, it employs leverage to enhance returns, maintains a leveraged effective duration sensitive to interest rate changes, and targets U.S. states, municipalities, and territories for primarily high-quality, tax-exempt municipal bonds suitable for conservative fixed-income allocations. In recent developments, the fund raised its monthly distribution from $0.018 to $0.023 per share starting May 2025, reflecting a 27.8% increase amid stable net investment income sourcing; it declared a $0.023 monthly dividend payable December 31, 2025, to shareholders of record December 11, 2025; and continues a contractual fee waiver through November 30, 2025, supporting a net expense ratio of 2.87%.