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.
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