KYN Announces Stockholder Approval of Amended Fundamental Investment Policies

Rhea-AI Summary

Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) announced stockholder approval for changes to its investment objective and fundamental policies regarding industry concentration. Chairman Jim Baker emphasized that these amendments aim to position KYN to better capitalize on the ongoing energy transition by expanding investments across various North American energy infrastructure sectors. The fund primarily focuses on achieving high after-tax total returns through substantial cash distributions to stockholders, with at least 80% of assets dedicated to energy infrastructure companies.

Positive

• Stockholders approved amendments to KYN’s investment objective and policies.
• Changes position KYN to capitalize on the energy transition.
• Focus on investing in diverse North American energy infrastructure.

Negative

• None.

HOUSTON, Oct. 29, 2020 (GLOBE NEWSWIRE) -- Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) (the “Company”) announced today that stockholders have approved the proposals to amend (i) KYN’s investment objective, and (ii) the Company’s fundamental investment policy with respect to industry concentration.

“The energy sector is in the midst of a profound transition,” stated Jim Baker, KYN’s Chairman, President and CEO. “We appreciate the support shown by our stockholders. We believe the changes made to KYN’s investment policies better position the Company to capitalize on the energy transition by investing across the full spectrum of North American energy infrastructure,” continued Mr. Baker.

Additional information regarding KYN’s Strategic Update can be found at https://kaynefunds.com/insights.

Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, as amended, whose common stock is traded on the NYSE. The company's investment objective is to provide a high after-tax total return with an emphasis on making cash distributions to stockholders. KYN intends to achieve this objective by investing at least 80% of its total assets in securities of Energy Infrastructure Companies.

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of any securities in any jurisdiction in which such offer or sale is not permitted. Nothing contained in this press release is intended to recommend any investment policy or investment strategy or take into account the specific objectives or circumstances of any investor. Please consult with your investment, tax, or legal adviser regarding your individual circumstances prior to investing.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This communication contains statements reflecting assumptions, expectations, projections, intentions, or beliefs about future events. These and other statements not relating strictly to historical or current facts constitute forward-looking statements as defined under the U.S. federal securities laws. Forward-looking statements involve a variety of risks and uncertainties. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; energy industry risk; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in detail in the fund’s filings with the SEC, available at www.kaynefunds.com or www.sec.gov. Actual events could differ materially from these statements or from our present expectations or projections. You should not place undue reliance on these forward-looking statements, which speak only as of the date they are made. Kayne Anderson undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the fund’s investment objectives will be attained.

Contact: Investor Relations at (877) 657-3863 or cef@kaynecapital.com

FAQ

What investment changes were approved by KYN stockholders?

Stockholders approved amendments to KYN’s investment objective and policies on industry concentration.

How does KYN plan to capitalize on the energy transition?

KYN aims to invest across a wider range of North American energy infrastructure sectors.

What is KYN's primary investment objective?

KYN seeks to provide a high after-tax total return with a focus on cash distributions to stockholders.

What percentage of KYN's assets is dedicated to energy infrastructure companies?

KYN intends to invest at least 80% of its total assets in securities of Energy Infrastructure Companies.

What is the significance of the recent changes in KYN's investment policy?

The changes are intended to better position KYN to respond to the evolving energy sector dynamics.