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Overview of NYLI CBRE Global Infras Megatrends Term Fund (MEGI)
NYLI CBRE Global Infras Megatrends Term Fund, trading under the symbol MEGI on the New York Stock Exchange, is a non-diversified, closed-end management investment company that focuses on income-producing equity securities issued by infrastructure companies. At its core, the Fund invests in a spectrum of equity securities including common and preferred stocks as well as convertible instruments, positioning itself to benefit from robust trends in the infrastructure sector.
Core Investment Focus and Strategy
The Fund is strategically aligned with three key megatrends: decarbonization, digital transformation, and asset modernization. It leverages emerging opportunities within these trends to invest in companies that play a critical role in modernizing global infrastructure. This targeted focus allows the Fund to selectively invest in businesses that are crucial to addressing contemporary challenges in energy, technology, and the modernization of physical assets.
Business Model and Income Distribution
Operating as a closed-end fund, MEGI is designed to provide its investors with a high level of total return accompanied by an emphasis on current income. The Fund achieves this by investing in diversified income-producing securities, where the returns are derived not only from traditional dividends but also from strategic capital gains. Monthly distributions are a hallmark of its operational model, offering investors a regular income stream that is derived from the Fund’s net investment income and realized capital gains.
Market Position and Industry Environment
MEGI operates within the dynamic environment of global infrastructure investments, a sector that is central to both economic development and technological advancement. Its investment decisions are informed by deep research into industry trends and market dynamics, ensuring that the portfolio remains aligned with sectors poised for sustainable value creation. The Fund’s focus on infrastructure megatrends, integrated with sophisticated asset management practices, sets it apart from more diversified funds, as it allows investors to gain exposure to a specific yet globally significant segment of the market.
Investment Approach and Risk Considerations
The Fund employs a strategy that emphasizes both income generation and capital preservation. By investing predominantly in income-producing equity securities, it aims to deliver consistent distributions while mitigating risks associated with market volatility. Investors should note that like any investment, MEGI is subject to market risks and fluctuations in net asset value. The strategic emphasis on infrastructure ensures that while the Fund targets steady income, it also navigates the challenges inherent in capital markets without exposing investors to speculative risks.
Sector Expertise and Analytical Rigor
The Fund is managed by professionals with deep expertise in infrastructure investments, employing an analytical approach that ensures each investment is rigorously evaluated against macroeconomic trends and sector-specific drivers. This level of detailed scrutiny and the application of industry-specific insights reflect the Fund’s commitment to delivering an informed and nuanced investment strategy that prioritizes both performance and risk mitigation.
Key Highlights
- Targeted Megatrend Focus: Invests in companies aligned with decarbonization, digital transformation, and asset modernization.
- Regular Income Distribution: Structures investments to support monthly income distributions, appealing to income-focused investors.
- Non-Diversified Approach: Utilizes a closed-end investment model for a concentrated, focused strategy in the global infrastructure space.
- Expert Management: Leverages deep industry expertise and sophisticated analytical processes to assess investment opportunities.
Conclusion
NYLI CBRE Global Infras Megatrends Term Fund stands as a specialized investment vehicle within the broader infrastructure sector. With an emphasis on key global megatrends and a commitment to generating consistent income distributions, the Fund offers a focused approach to accessing income-producing equities in a complex market environment. Its clear investment strategy, underpinned by industry expertise and a disciplined approach to risk, makes it a noteworthy option for those seeking to gain exposure to the evolving world of global infrastructure investments.
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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