MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE: MEGI) Announces a 15% Increase to the Distribution Rate and Webinar with Portfolio Management on August 9th, 2023

Rhea-AI Summary

MainStay CBRE Global Infrastructure Megatrends Term Fund (MEGI) announces a 15% increase in monthly distribution rate, effective August 31, 2023.

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• The Fund's regular monthly distribution rate will increase by 15% to $0.125/share ($1.50/share annualized) from $0.1083/share ($1.30/share annualized).

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• None.

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 14^th, 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 8^th, 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

FAQ

What is the increase in the Fund's monthly distribution rate?

The Fund's monthly distribution rate will increase by 15% to $0.125/share ($1.50/share annualized).

When will the increased distribution rate be effective?

The increased distribution rate will be effective from August 31, 2023.

Where can I find more details about the distribution and key dates?

More details about the distribution and key dates will be disclosed in the Fund's regular monthly distribution announcement on or about August 14th, 2023.

What is the Fund's investment focus?

The Fund primarily invests in income-producing equity securities issued by infrastructure companies.

What are the risks associated with investing in the Fund?

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.