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.
MainStay CBRE Global Infrastructure Megatrends Closed-End Fund (NYSE: MEGI) has declared a monthly distribution of $0.1083 per share, set for payment on June 15, 2022. The distribution sources include 93% from net investment income and 6% from net realized short-term capital gains, with minimal contributions from long-term gains or return of capital. Cumulative distributions for the fiscal year amount to $0.6498. The Fund's managed distribution policy aims to provide consistent distributions; however, future distributions are not guaranteed.
MainStay CBRE Global Infrastructure Megatrends Closed-End Fund (NYSE: MEGI) has announced a monthly distribution of $0.1083 per share for shareholders of record as of May 16, 2022. The distribution sources include $0.0969 (89%) from net investment income, $0.0107 (10%) from net realized short-term gains, and $0.0007 (1%) from net realized long-term gains. The fund follows a managed distribution policy aiming for consistent monthly payments, though it is not guaranteed. Total cumulative distributions for this fiscal year amount to $0.5415.
MainStay CBRE Global Infrastructure Megatrends Fund (NYSE: MEGI) will hold a conference call with the CBRE Investment Management portfolio management team on April 27, 2022, at 4:00 PM ET. The call will provide updates on the portfolio and future outlook. Questions can be submitted via email until April 25, 2022, at 8:00 PM ET. The details, including the Zoom link and dial-in information, will be available on the New York Life Investments website. New York Life Investments manages over $700 billion in assets as of December 31, 2021.
MainStay CBRE Global Infrastructure Megatrends Fund (NYSE: MEGI) announced a monthly distribution of $0.1083 per share for shareholders as of April 14, 2022. The distribution sources include 92% from net investment income and 7% from net realized short-term capital gains. The fund aims to provide consistent distributions under its managed distribution policy, although there is no guarantee of future payments. As of March 31, 2022, the average annual total return was 6.02%, and the annualized current distribution rate was 6.23%.
MainStay CBRE Global Infrastructure Megatrends Fund (NYSE: MEGI) announced a monthly distribution of $0.1083 per share for April, May, and June 2022, marking an annualized rate of 6.5% based on a $20.00 IPO price. The distribution schedule reveals critical dates for ex-dividend, record, and payable dates for each month. The press release emphasizes that these distributions are estimates and stresses the inherent risks of investing in the fund, including new fund risk and infrastructure industry risk. For more information, shareholders can access the fund's website.
MainStay CBRE Global Infrastructure Megatrends Fund (NYSE: MEGI) announced a monthly distribution of $0.1083 per share for shareholders as of the record date March 15, 2022. The distribution primarily comes from net investment income (96%) and net realized short-term capital gains (4%). For the fiscal year to date, the cumulative distribution per share is $0.3249, representing a total return of 2.29% in relation to net asset value (NAV). The Fund employs a managed distribution policy to provide consistent monthly distributions, subject to Board review.
MainStay CBRE Global Infrastructure Megatrends Fund (NYSE: MEGI) announced a monthly distribution of $0.1083 per share to shareholders recorded as of February 15, 2022. The distribution comprises:
- Net Investment Income: $0.1037 (96%)
- Net Realized Short-Term Capital Gains: $0.0044 (4%)
- Net Realized Long-Term Capital Gains: $0.0002 (0%)
- Return of Capital: $0
The Fund targets a sustainable monthly distribution per its managed distribution policy, although no guarantee is made about future distributions.
MainStay CBRE Global Infrastructure Megatrends Closed-End Fund (NYSE: MEGI) announced a monthly distribution of $0.1083 per share to shareholders as of January 14, 2022. This distribution is derived primarily from net investment income ($0.1033 or 96%) and net realized short-term capital gains ($0.0046 or 4%), with no contributions from long-term capital gains or return of capital. The Fund follows a managed distribution policy and aims to provide consistent monthly distributions based on its income and gains, with reviews conducted quarterly by its Board of Trustees.
New York Life Investments appointed Karen Hammond as a Class II Trustee for the MainStay MacKay DefinedTerm Municipal Opportunities Fund (MMD) and MainStay CBRE Global Infrastructure Megatrends Fund (MEGI), effective December 31, 2021. Hammond replaces Richard H. Nolan, Jr., who has retired after serving as a Trustee since 2006. Hammond brings over 30 years of investment management experience, having previously worked with Fidelity Investments, where she held senior roles. The board for each fund remains at seven, with six independent trustees.
MainStay CBRE Global Infrastructure Megatrends Fund (NYSE: MEGI) published its complete holdings as of November 30, 2021. The Fund's portfolio characteristics, including top 10 holdings as of December 17, 2021, are available on its website. Fully invested following its IPO, the Fund demonstrates a commitment to providing shareholders with comprehensive investment insights. New York Life Investments, managing over $650 billion in assets, and CBRE Investment Management, with $133.1 billion in assets, back the Fund, reinforcing its credibility in the infrastructure investment sector.
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