NEW YORK, July 26, 2023 /PRNewswire/ -- MainStay CBRE
Global Infrastructure Megatrends Term Fund (the "Fund")
(NYSE: MEGI) announces a 15% increase in the regular monthly
distribution rate, to $0.125/share
($1.50/share annualized) from
$0.1083/share ($1.30/share annualized) effective August 31, 2023. Key dates as well as the details
pertaining to the sources of the distribution will be disclosed in
the Fund's regular monthly distribution announcement on or about
August 14th, 2023.
"Our portfolio provides access to infrastructure companies with
resilient earnings and income growth that benefit from positive
inflation sensitivity as well as long-term secular investment
trends. The decision to increase our monthly distribution is
based on our team's recognition of continued strong fundamentals
and confidence in the outlook for the asset class," said
Jeremy Anagnos, Listed
Infrastructure CIO of CBRE Investment Management's listed
infrastructure strategies and Portfolio Manager of the Fund.
A webinar with the portfolio management team will be held
on Wednesday, August 9, 2023, at 4:00 PM ET. During the
webinar, the team will provide an update on the portfolio and
outlook for the year ahead.
Webinar Details:
Date: August 9, 2023
Time: 4:00 PM ET
Register for the webinar
here
Questions may be submitted in advance to the following email
address: product_management@nylim.com. The deadline for email
submission is Tuesday, August
8th, 2023, at 12:00 PM
ET. Details for the webinar, including the dial-in
information, will also be posted to the New York Life Investments
website, www.newyorklifeinvestments.com, in advance of the
webinar.
Disclosures:
There is no assurance the Fund will
continue to make any regular monthly distributions or that it will
do so at a particular rate.
You should not draw any conclusions about the Fund's investment
performance from the amount of its distribution to
shareholders.
The Fund is a closed-end fund, which is traded on the New York
Stock Exchange and invests primarily in income-producing
equity securities issued by infrastructure companies. Holdings are
subject to change. Past performance is no guarantee of future
results.
The Fund's daily New York Stock Exchange closing prices, net
asset values per share, as well as other information are available
by calling the Fund's shareholder servicing agent (855)
456-9683.
Before considering an investment in the Fund, you should
understand that you could lose money. There are risks inherent in
all investments. The Fund's risks include: New Fund Risk, No
Operating History Risk, Limited Term Risk, Infrastructure Industry
Risk, Leverage Risk, Equity Securities Risk: Foreign Securities
Risk, Convertible Securities Risk: Debt Securities Risk, Maturity
Risk, Investment and Market Discount Risk: Dividend Paying
Securities Risk, Discount from Net Asset Value Risk and Emerging
Markets Risk.
Investors should consider the investment objectives, risks,
charges and expenses of the Fund carefully before investing.
The Fund's prospectus, which contains this and other
information about the Fund, should be read carefully before
investing. A copy of the final prospectus relating to this
Fund may be obtained by contacting your financial advisor, or by
calling 800-624-6782.
About New York Life Investments
With over $670 billion in Assets Under Management* as of
March 31, 2023, New York Life
Investments is comprised of the affiliated global asset management
businesses of its parent company, New York Life Insurance Company,
and offers clients access to specialized, independent investment
teams through its family of affiliated boutiques. New York Life
Investments remains committed to clients through a combination of
the diverse perspectives of its boutiques and a long-lasting focus
on sustainable relationships.
*Assets under management (AUM) includes assets of the investment
advisers affiliated with New York Life Insurance Company, other
than Kartesia Management, and Tristan Capital Partners, as of
3/31/2023. As of 12/31/2022 New York
Life Investments changed its AUM calculation methodology, and AUM
now includes certain assets, such as non-discretionary AUM,
external fund selection, and overlay services, including ESG
screening services, advisory consulting services, white labeling
investment management services, and model portfolio delivery
services, that do not qualify as Regulatory Assets Under
Management, as defined in the SEC's Form ADV. AUM is reported in
USD. AUM not denominated in USD is converted at the spot rate as of
12/31/2022. This total AUM figure is less than the sum of the AUM
of each affiliated investment adviser in the group because it does
not count AUM where the same assets can be counted by more than one
affiliated investment adviser "New York Life Investments" is both a
service mark, and the common trade name, of certain investment
advisors affiliated with New York Life Insurance Company.
About CBRE Investment Management
CBRE Investment
Management Listed Real Assets LLC is the listed real assets arm of
CBRE Investment Management, a leading global real assets investment
management firm, with $148.9 billion
in assets under management* as of March 31,
2023, operating in more than 30 offices and 20 countries
around the world. Through its investor-operator culture, the firm
seeks to deliver sustainable investment solutions across real
assets categories, geographies, risk profiles and execution formats
so that its clients, people and communities thrive.
CBRE Investment Management is an independently operated
affiliate of CBRE Group, Inc. (NYSE:CBRE), the world's largest
commercial real estate services and investment firm (based on 2022
revenue). CBRE has approximately 115,000 employees (excluding
Turner & Townsend employees) serving clients in more than 100
countries. CBRE Investment Management harnesses CBRE's data and
market insights, investment sourcing and other resources for the
benefit of its clients. For more information, please visit
www.cbreim.com.
*Assets under management (AUM) refers to the fair market value
of real assets-related investments with respect to which CBRE
Investment Management provides, on a global basis, oversight,
investment management services and other advice and which generally
consist of investments in real assets; equity in funds and joint
ventures; securities portfolios; operating companies and real
assets-related loans. This AUM is intended principally to reflect
the extent of CBRE Investment Management's presence in the global
real assets market, and its calculation of AUM may differ from the
calculations of other asset managers and from its calculation of
regulatory assets under management for purposes of certain
regulatory filings.
This press release is not an offer to sell securities and is not
a solicitation of an offer to buy securities, nor will there be any
sales of securities in any jurisdiction where the offer or sale is
not permitted.
New York Life Investment Management LLC engages the services of
SEC-registered advisors. CBRE Investment Management Listed Real
Assets (CBRE Investment Management) is unaffiliated with New York
Life Investment Management LLC. The MainStay Funds® are managed by
New York Life Investment Management LLC and distributed by NYLIFE
Distributors LLC, 30 Hudson Street, Jersey City, NJ 07302, a wholly owned
subsidiary of New York Life Insurance Company. NYLIFE Distributors
LLC is a Member FINRA/SIPC.
Media Contacts:
New York Life
Investments:
Allison Scott /
Allison_Scott@nylim.com
Sara Guenoun /
Sara_J_Guenoun@newyorklife.com
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SOURCE New York Life Investments