Welcome to our dedicated page for NYLI CBRE Global Infrastructure Megatrends Term Fund news (Ticker: MEGI), a resource for investors and traders seeking the latest updates and insights on NYLI CBRE Global Infrastructure Megatrends Term Fund stock.
MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE: MEGI) is a non-diversified, closed-end management investment company. The Fund's primary investment objective is to achieve a high level of total return with a focus on current income.
The Fund, managed by New York Life Investment Management LLC and distributed by NYLIFE Distributors LLC, invests primarily in income-generating equity securities of infrastructure companies. It leverages the expertise of CBRE Investment Management, a global leader in real assets investment with $147.6 billion in assets under management as of June 30, 2023. The affiliation with CBRE, the world's largest commercial real estate services and investment firm, provides valuable market insights and resources to the Fund.
MEGI implements a strategy designed to produce stable monthly distributions for its shareholders. As of recent announcements, the Fund's annualized distribution rate has ranged between 10.07% and 12.88%, depending on the closing prices and Net Asset Values (NAV). These distributions are subject to regular review by the Board of Trustees, who consider the Fund's net investment income, realized and unrealized gains, and other factors.
The Fund's NASDAQ listed stock provides investors with easy access to daily closing prices and NAV information. It's important to understand that the Fund's distribution policy and future earnings are not guaranteed and can change. Any distributions that exceed the Fund's earnings and profits are treated as a return of capital, which may have tax implications for shareholders.
Significant recent updates include the Fund's consistent monthly distributions. For example, the Fund announced a $0.1250 per common share distribution for April 2024, reflecting an annualized distribution rate of 12.35% based on the closing price of $12.15 on April 10, 2024.
New York Life Investments, with over $716 billion in assets under management as of December 31, 2023, utilizes a combination of diverse boutique perspectives and a focus on sustainable relationships. This ensures robust and specialized management of the Fund. The strategic collaboration with CBRE Investment Management enriches the Fund's investment approach through extensive data, market insights, and investment sourcing capabilities.
CBRE Investment Management operates in over 30 offices globally, across 20 countries, emphasizing an investor-operator culture to deliver sustainable investment solutions. This extensive network supports the Fund's goal of providing attractive income and total return opportunities through investments in global infrastructure assets.
NYLI CBRE Global Infrastructure Megatrends Term Fund (NYSE: MEGI) has declared its monthly distribution of $0.1250 per common share for December 2024. The Fund's current annualized distribution rate is 11.30% based on the closing price of $13.28 and 10.16% based on NAV of $14.77 as of December 11, 2024.
The distribution sources include: 80% from net investment income ($0.1001), 20% from net realized short-term capital gains ($0.0249), and 0% from long-term capital gains. The Fund's performance metrics show an average annual total return of -0.75% since inception, with a cumulative total return of 6.66% for the fiscal period ending November 30, 2024.
NYLI CBRE Global Infrastructure Megatrends Term Fund (NYSE: MEGI) has declared its November 2024 monthly distribution of $0.1250 per common share. The Fund's current annualized distribution rate is 11.14% based on the $13.46 closing price and 10.11% based on the $14.83 NAV as of November 12, 2024. The distribution sources include: 4% from net investment income, 71% from net realized short-term capital gains, and 25% from net realized long-term capital gains. The Fund's performance shows a -1.04% average annual total return since inception, with a cumulative total return of 5.78% for the fiscal period ending October 31, 2024.
NYLI CBRE Global Infrastructure Megatrends Term Fund (NYSE: MEGI) has announced its monthly distribution for October 2024 of $0.1250 per common share. The Fund's current annualized distribution rate is 10.64% based on the closing price of $14.10 and 9.62% based on the NAV of $15.60 as of October 10, 2024.
The distribution breakdown is as follows:
- 37% from Net Investment Income
- 43% from Net Realized Short-Term Capital Gains
- 20% from Net Realized Long-Term Capital Gains
The Fund's average annual total return from inception through September 30, 2024, is 1.06%. The cumulative total return for the fiscal period ending September 30, 2024, is 12.59%. The Fund's Board of Trustees reviews the distribution quarterly, aiming to distribute an amount closely approximating the Fund's net investment income and net realized capital gains during the year.
NYLI CBRE Global Infrastructure Term Fund (NYSE: MEGI) has announced the certified final voting results of its 2024 Annual Meeting of Shareholders. The results confirm that the incumbent Board members will remain in place, despite a dissident shareholder's proposal of a trustee nominee. Shareholders also ratified the selection of KPMG LLP as the fund's independent registered public accounting firm for the fiscal year ending May 31, 2025.
The Annual Meeting, which reached quorum, was held on September 27, 2024. The final voting results have been certified by First Coast Results, Inc., the independent Inspector of Election, and will be included in the fund's next annual report to shareholders.
NYLI CBRE Global Infrastructure Megatrends Term Fund (NYSE: MEGI) has declared a monthly distribution of $0.1250 per common share for September 2024. The Fund's current annualized distribution rate is 10.43% based on the closing price of $14.38 on September 12, 2024, and 9.41% based on the NAV of $15.94. The distribution is payable on September 30, 2024, to shareholders of record on September 26, 2024.
The Fund's distribution sources for the current month are: 72% from net investment income, 19% from net realized short-term capital gains, and 9% from net realized long-term capital gains. The Fund's average annual total return since inception (10/27/2021) through 8/31/2024 is -0.76%, while the cumulative total return for the current fiscal period (6/1/2024 - 8/31/2024) is 6.80%.
MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE: MEGI) announced its August 2024 monthly distribution of $0.1250 per common share, reflecting a current annualized distribution rate of 11.30% based on the closing price of $13.27 as of August 13, 2024. The distribution rate based on the Fund's NAV of $14.87 is 10.09%. Important dates include the ex-dividend date (August 26, 2024), record date (August 26, 2024), and payable date (August 30, 2024).
The distribution sources are estimated as follows: net investment income (89%), net realized short-term capital gains (4%), and net realized long-term capital gains (7%). The Fund's average annual total return as of July 31, 2024, is -2.47% in relation to NAV. Cumulative total return for the fiscal period ending July 31, 2024, is 1.87%.
The Board of Trustees reviews distributions quarterly, aiming to align them with net investment income and realized gains. Future earnings and distribution rates are not guaranteed.
MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE: MEGI) has announced its monthly distribution for July 2024 of $0.1250 per common share. The Fund's current annualized distribution rate is 11.39% based on the closing price of $13.17 on July 11, 2024, and 10.11% based on the NAV of $14.83. The ex-dividend date, record date, and payable date are all set for July 25, 2024, with payment on July 31, 2024.
The Fund's distribution is derived entirely from net investment income. As of June 30, 2024, the Fund reported an average annual total return of -5.10% since inception, and a cumulative total return of 5.11% for the current fiscal period. The Fund's Board of Trustees reviews the distribution quarterly, aiming to distribute an amount closely approximating the Fund's net investment income and net realized capital gains during the year.
MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE: MEGI) has scheduled a portfolio manager update webinar for Thursday, July 18, 2024, at 4:00 PM ET. The session will feature insights from Jeremy Anagnos, Principal and CIO, and David Leggette, Lead Product Strategist.
Participants can register online and submit questions in advance. The Fund, a closed-end entity traded on the NYSE, focuses on income-producing equity securities from infrastructure companies. Key risks include new fund risk, no operating history, and market discount risk. Investors are advised to review the Fund’s detailed prospectus for a comprehensive understanding of associated risks and investment objectives.
MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE: MEGI) has declared a monthly distribution of $0.1250 per common share for June 2024, with an annualized distribution rate of 11.79% based on a closing price of $12.72, and 10.32% based on a closing NAV of $14.54. The ex-dividend and record dates are June 25, 2024, with the payable date being June 28, 2024. The distribution for June is sourced entirely from net investment income. As of May 31, 2024, the Fund's average annual total return is –3.32%, with a cumulative total return of 2.74% for the fiscal year. The Board of Trustees reviews distributions quarterly, aiming to match net investment income and realized capital gains. Future earnings and distribution rates are not guaranteed and may change based on the Fund's performance and tax regulations.
MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE: MEGI) announced a monthly distribution of $0.1250 per common share for May 2024. The annualized distribution rate is 11.38% based on the closing price of $13.18 on May 10, 2024, and 9.91% based on the closing NAV of $15.13.
The distribution is set by the Fund's Board and reviewed quarterly to align with net investment income and realized gains. For May, the entire distribution is a return of capital. The Fund's fiscal year-to-date cumulative distributions include 60% net investment income, 2% short-term capital gains, 12% long-term capital gains, and 26% return of capital.
Performance data as of 4/30/2024 shows a -6.50% average annual total return and a -5.27% cumulative total return. The Fund's current annualized distribution rate is 10.78% of the month-end NAV. Past performance does not guarantee future results, and returns of capital are included in distributions.
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