NEW YORK, December 21, 2021 / PRNewswire / – The MainStay CBRE Global Infrastructure Megatrends Fund (the “Fund” (NYSE: MEGI) today announced the entirety of the Fund’s holdings as of November 30, 2021, which can be retrieved from the Fund’s web page by clicking here. The characteristics of the Fund’s portfolio and the top 10 securities to date December 17, 2021 have also been published and published on the Fund’s web page in order to provide shareholders with a more complete view of the Fund’s investments, as the proceeds of the Fund’s IPO are now fully invested.
About New York Life Investments
With over 650 billion dollars in Assets under management * as of September 30, 2021, New York Life Investments comprises the global asset management operations affiliated with its parent company, New York Life Insurance Company (New York Life), and provides clients with access to specialized and independent investment teams through the through its family of affiliated shops. New York Life Investments remains committed to its clients through a combination of the diverse perspectives of its stores and a long-standing emphasis on lasting relationships.
New York Life Insurance Company (www.newyorklife.com), a Fortune 100 company founded in 1845, is the largest mutual life insurance company in United States** and one of the largest life insurers in the world. Based at New York City, New York Life’s family of companies offer life insurance, retirement income, investments and long-term care insurance. New York Life has the highest financial strength ratings currently assigned to any US life insurer by the four major credit rating agencies ***.
* Assets under management include the assets of investment advisers affiliated with New York Life Insurance Company at September 30, 2021. Assets under management for Candriam and Ausbil are reported at the spot rate.
** Based on earnings reported by “Fortune 500 ranked in Industries, Insurance: Life, Health (Mutual)”, Fortune magazine, 2/6/2021. For the methodology, please see http://fortune.com/fortune500/.
*** Individual comments from independent rating agencies as of 10/15/2020: AM Best (A ++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA +). The financial strength of New York Life Insurance Company applies only to its insurance products and not to investment products which are subject to market risk and fluctuations in value.
“New York Life Investments” is both a service mark and the common trade name of certain investment advisers affiliated with The New York Life Insurance Company.
About CBRE Investment Management
CBRE Investment Management is one of the world’s leading real estate asset management companies with $ 133.1 billion in assets under management * as of September 30, 2021, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the company seeks to provide sustainable investment solutions across all real asset classes, geographies, risk profiles and execution formats so that its clients, people and its communities thrive. CBRE Investment Management Listed Real Assets LLC is a separately registered investment advisor within CBRE Investment Management specializing in the management of global listed real asset solutions.
CBRE Investment Management is an independent subsidiary of CBRE Group, Inc. (NYSE: CBRE), the world’s largest commercial real estate investment and services firm (based on 2020 revenue). CBRE has more than 100,000 employees serving customers in more than 100 countries. CBRE Investment Management leverages CBRE’s market data and knowledge, investment research and other resources for the benefit of its clients. For more information on CBRE Investment Management, please visit www.cbreim.com
* Assets under management (AUM) refers to the fair market value of investments related to real assets for which CBRE Investment Management provides, on a global basis, supervision, investment management services and other advice and which generally consist of investments in real assets; participation in funds and joint ventures; securities portfolios; operating companies and loans on real estate assets. This AUM is primarily intended to reflect the extent of CBRE Investment Management’s presence in the global real asset market, and its calculation of AUM may differ from calculations of other asset managers and its calculation of regulatory assets under management for the purposes of certain regulatory filings.
Before you consider an investment in the Fund, you should understand that you could lose money. There are risks inherent in all investments. The risks of the Fund include:
Risk associated with the new fund: The Fund is a new fund which may involve additional risk. There can be no assurance that the Fund will reach an economically viable size, in which case the Fund may cease operations. In such a case, investors may be required to liquidate or transfer their investments at an inconvenient time.
No risk of operating history: The Fund is a newly organized, non-diversified, closed-end management investment company with no previous operating history. It is designed to invest for the long term, not as a trading vehicle. The shares of closed-end investment companies frequently trade at a discount to their net asset value. This risk may be greater for investors who plan to sell their shares within a relatively short period of time after the public offering closes.
Limited term risk: Unless the Board takes action to the contrary in accordance with the Declaration of Trust, the Fund will begin the process of liquidation and dissolution at the close of business on the date of dissolution. The Fund will not seek to redeem an initial investment in Common Shares by an Investor on the Termination Date. Instead, the Fund will distribute an amount equal to the net asset value of the Fund at that time, which may be higher or lower than an investor’s initial investment.
Risk related to the infrastructure industry: The Fund is particularly exposed to adverse economic, regulatory, political, legal, geographic and other changes affecting issuers of infrastructure-related securities. Infrastructure-related companies are subject to various factors that can negatively affect their business or operations, including high interest charges related to capital construction programs, difficulties in obtaining financing for construction programs, costs associated with environmental and other regulations, effects of economic downturns, excess capacity, increased competition from other service providers, uncertainties about the availability of fuel at reasonable prices, effects of energy conservation policies , changes in market sentiment and other factors. In addition, infrastructure related businesses may be subject to regulation by various government authorities, may also be affected by government regulation of tariffs charged to customers, service disruptions and / or legal challenges due to environmental issues. , operational, the imposition of special tariffs and changes in tax laws, regulatory policies and accounting standards. There is also a risk that corruption adversely affects infrastructure projects, leading to delays and cost overruns.
Leverage risk: The use of leverage creates an opportunity for increased net dividends on investment income from common stocks, but also creates risks for holders of common stocks. Leverage is a speculative technique which exposes the Fund to increased risk and increased costs. Leverage may cause greater variations in the net asset value of the Fund. The Fund will also have to pay interest on its borrowings, if any, which may reduce the Fund’s returns.
Risk associated with equity securities: The prices of equity securities have historically experienced periods of significant volatility, particularly during recessions or other periods of financial stress. The prices of common stocks, like other equity securities, can be affected by the macroeconomics and other factors affecting the stock market in general, including financial or political conditions that may affect particular sectors or the economy in question. general. Preferred shares are subject to issuer-specific risks, in addition to general equity risks, and unlike common shares, participation in the growth of an issuer may be limited.
Risk associated with debt securities: The risks of investing in debt securities include (but are not limited to) credit risk the risk that an issuer, guarantor or liquidity provider of a debt security may not or will not, or may be perceived (whether by market participants, rating agencies, services or otherwise) to be unable or unwilling to make timely payments of principal and / or interest, or to ” otherwise honor its obligations.
Foreign securities risk: Foreign securities may be subject to greater risks than US investments, including currency fluctuations, less liquid business markets, greater price volatility, political and economic instability, less publicly available information, and changes in fiscal or monetary laws or monetary policy. These risks are likely to be greater for emerging markets than for developed markets.
Risks associated with emerging markets: The risks of foreign investments (or exposure to foreign investments) are generally much higher when they are made in (or result in exposure to) emerging markets. Investments in emerging markets can be viewed as speculative. Emerging markets are riskier than more developed markets because they tend to develop unevenly and may never fully develop.
Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund before investing. The Fund 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 can be obtained by clicking on the Fund page indicated above, by contacting your financial advisor, or by calling 800-624-6782.
New York Life Investment Management LLC uses the services of SEC-registered advisers. CBRE Investment Management Listed Real Assets (CBRE Investment Management) is not affiliated with New York Life Investments. The MainStay Funds® are managed by New York Life Investment Management LLC and distributed by NYLIFE Distributors LLC, 30 Hudson Street, Jersey City, New Jersey 07302, a wholly owned subsidiary of New York Life Insurance Company. NYLIFE Distributors LLC is a FINRA / SIPC member.