NYLI CBRE Global Infrastructure Megatrends Term Fund (NYSE: MEGI) Declares Monthly Distribution for November 2024 and Availability of 19(a) Notice
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) ha dichiarato la sua distribuzione mensile di novembre 2024 di $0.1250 per azione ordinaria. L'attuale tasso di distribuzione annualizzato del Fondo è dell'11,14% basato sul prezzo di chiusura di $13,46 e del 10,11% basato sul NAV di $14,83 al 12 novembre 2024. Le fonti di distribuzione comprendono: 4% da reddito da investimenti netti, 71% da guadagni in conto capitale a breve termine netti realizzati e 25% da guadagni in conto capitale a lungo termine netti realizzati. La performance del Fondo mostra un rendimento totale annuo medio del -1,04% dall'inizio, con un rendimento totale cumulativo del 5,78% per il periodo fiscale che termina il 31 ottobre 2024.
NYLI CBRE Global Infrastructure Megatrends Term Fund (NYSE: MEGI) ha declarado su distribución mensual de noviembre de 2024 de $0.1250 por acción ordinaria. La tasa de distribución anualizada actual del Fondo es del 11.14% basada en el precio de cierre de $13.46 y del 10.11% basada en el NAV de $14.83 al 12 de noviembre de 2024. Las fuentes de distribución incluyen: 4% de ingresos netos por inversiones, 71% de ganancias de capital netas realizadas a corto plazo, y 25% de ganancias de capital netas realizadas a largo plazo. El rendimiento del Fondo muestra un retorno total anual promedio del -1.04% desde su inicio, con un retorno total acumulado del 5.78% para el período fiscal que finaliza el 31 de octubre de 2024.
NYLI CBRE 글로벌 인프라 메가트렌드 기간 펀드 (NYSE: MEGI)는 2024년 11월 월 배당금을 보통주당 $0.1250으로 발표했습니다. 펀드의 현재 연간 배당률은 2024년 11월 12일 기준 $13.46의 종가에 따라 11.14%, $14.83의 NAV에 따라 10.11%입니다. 배당금 출처는 다음과 같습니다: 4%는 순 투자 수익, 71%는 단기 자본 이득을 순실현, 25%는 장기 자본 이득을 순실현한 것입니다. 펀드의 성과는 설립 이후 평균 연간 총 수익률 -1.04%를 나타내며, 2024년 10월 31일 종료된 회계 기간의 누적 총 수익률은 5.78%입니다.
NYLI CBRE Global Infrastructure Megatrends Term Fund (NYSE: MEGI) a déclaré sa distribution mensuelle de novembre 2024 de $0.1250 par action ordinaire. Le taux de distribution annualisé actuel du Fonds est de 11,14% basé sur le prix de clôture de $13,46 et de 10,11% basé sur la valeur d'inventaire (NAV) de $14,83 au 12 novembre 2024. Les sources de distribution comprennent : 4% de revenus nets d'investissement, 71% de gains en capital réalisés nets à court terme et 25% de gains en capital réalisés nets à long terme. La performance du Fonds affiche un rendement total annuel moyen de -1,04% depuis sa création, avec un rendement total cumulé de 5,78% pour la période fiscale se terminant le 31 octobre 2024.
NYLI CBRE Global Infrastructure Megatrends Term Fund (NYSE: MEGI) hat seine monatliche Ausschüttung für November 2024 in Höhe von $0,1250 je Stammaktie erklärt. Der aktuelle annualisierte Ausschüttungszins des Fonds beträgt 11,14% basierend auf dem Schlusskurs von $13,46 und 10,11% basierend auf dem NAV von $14,83 zum 12. November 2024. Die Ausschüttungsquellen umfassen: 4% aus netto Anlageerträgen, 71% aus realisierten Nettogewinnen aus kurzfristigen Kapitalanlagen und 25% aus realisierten Nettogewinnen aus langfristigen Kapitalanlagen. Die Performance des Fonds zeigt eine durchschnittliche jährliche Gesamtrendite von -1,04% seit der Auflage, mit einer kumulierten Gesamtrendite von 5,78% für den zum 31. Oktober 2024 endenden Geschäftsjahr.
- Strong distribution yield of 11.14% based on market price
- Distribution fully covered by investment income and capital gains (no return of capital)
- Positive cumulative total return of 5.78% for current fiscal period
- Negative average annual total return of -1.04% since inception
- NAV trading at $14.83, below initial offering price
Insights
The Fund's monthly distribution announcement reveals several key insights for investors. The
However, the Fund's performance metrics raise concerns. The
Infrastructure investments typically serve as defensive plays with stable income streams, but MEGI's performance pattern suggests higher volatility than traditional infrastructure funds. The substantial discount to NAV (
The high distribution rate relative to both market price and NAV, combined with negative long-term returns, warrants careful monitoring. The fund's reliance on capital gains rather than investment income for distributions suggests a more aggressive strategy than typical infrastructure funds.
Dividend Distribution Schedule:
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Ex-Dividend Date |
Record Date |
Payable Date |
November |
11-25-2024 |
11-25-2024 |
11-29-2024 |
The amounts and sources of distributions reported in this Notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Distribution Policy.
Future earnings of the Fund cannot be guaranteed, and the Fund's distribution policy is subject to change. For more information on the Fund, please visit the Fund’s website here.
The Fund's monthly distribution is set by its Board of Trustees. The Board reviews the Fund's distribution on a quarterly basis in view of its net investment income, realized and unrealized gains, and other net unrealized appreciation or income expected during the remainder of the year. The Fund strives to establish a level monthly distribution that, over the course of the year, will serve to distribute an amount closely approximating the Fund's net investment income and net realized capital gains during the year.
The following table sets forth the estimated sources of income of the current distribution, and the cumulative distributions paid this fiscal year to date from the following sources: net investment income, net realized short-term capital gains, net realized long-term capital gains and return of capital or other capital source. All amounts are expressed on a per share of common stock basis and as a percentage of the distribution amount.
Data as of 11/30/2024 |
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Source |
Current
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Percent of
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Fiscal YTD
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Fiscal YTD Percent of
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Net Investment Income |
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Net Realized Short-Term Capital Gains |
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Net Realized Long-Term Capital Gains |
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Return of Capital or Other Capital Sources |
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Total per Share |
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Fund Performance and Distribution Rate Information as of 10/31/2024 |
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Average annual total return1 (in relation to the net asset value (NAV)) |
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Annualized current distribution rate expressed as a percentage of month end NAV as of
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Cumulative total return3 (in relation to NAV (not annualized)) for the fiscal period ending
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Cumulative fiscal year distribution rate as a percentage of NAV as of 10/31/2024 |
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1. |
Represents the annualized total return in relation to the change in NAV from inception (10/27/2021) through 10/31/2024. |
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2. |
Represents the current monthly distribution rate annualized as a percentage of NAV as of 10/31/2024. |
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3. |
Represents the cumulative total return in relation to the change in NAV for the current fiscal period 6/1/2024 through 10/31/2024. |
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4. |
Represents the cumulative distribution rate for the current fiscal period 6/1/2024 through 10/31/2024, which is determined by dividing the dollar value of distributions in the period by the NAV as of 10/31/2024. |
There is no assurance the Fund will continue to pay 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.
Any distributions in excess of the Fund’s current and accumulated earnings and profits will be treated first, as a tax-deferred return of capital, which is applied against and will reduce the adjusted tax basis of shares and, after such adjusted basis is reduced to zero, will generally constitute capital gains. A return of capital distribution may lower a shareholder’s basis in the Fund, causing a potential future tax consequence in connection with the sale of Fund shares, even if such shares are sold at a loss to the shareholder’s initial investments.
Any amounts and sources of distributions are only estimated and are not being provided for tax reporting purposes. The actual amounts and sources of income of the amounts for tax reporting purposes will depend on the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send a Form 1099-DIV for the calendar year that will advise how to report these distributions for federal income tax purposes.
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 clicking here or by calling the Fund's shareholder servicing agent at (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.
For more information about the Fund, including specific risks, please visit our website here.
About New York Life Investments
With over
*New York Life Investment Management ranked 26th largest institutional investment manager in Pensions & Investments' Largest Money Managers 2024 published June 2024, based on worldwide institutional AUM as of 12/31/23. No direct or indirect compensation was paid for the creation and distribution of this ranking.
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
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 2023 revenue). The company has more than 130,000 employees (including 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. "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. Securities distributed by NYLIFE Distributors LLC, 30 Hudson Street,
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Media:
New York Life Investments:
Sara Guenoun
Sara_J_Guenoun@newyorklife.com
Source: New York Life Investments
FAQ
What is MEGI's monthly distribution amount for November 2024?
What is MEGI's current distribution yield as of November 12, 2024?
What are the sources of MEGI's current distribution?
What is MEGI's total return since inception through October 31, 2024?
