NEW YORK, Dec. 31, 2021 /PRNewswire/ -- New York Life
Investments today announced the appointment of Karen Hammond to the Board of Trustees of the
MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:
MMD) and the MainStay CBRE Global Infrastructure Megatrends Fund
(NYSE: MEGI) (the "Funds") as a Class II Trustee. Ms. Hammond is
replacing Richard H. Nolan, Jr., who
has served as a Trustee to one or more of the registrants within
the MainStay Group of Funds since 2006 and is retiring effective
today. The size of each Fund's Board of Trustees will remain at
seven, six of whom are independent.
Karen Hammond
Ms. Hammond has served as an Advisory Board Member of the
MainStay Group of Funds since June of 2021 and has over 30 years of
experience in the investment management industry, spending the
majority of her career with Fidelity Investments from 1993 to 2013.
Ms. Hammond served as Senior Vice President of Investment Services
for Fidelity Management & Research Company from 2005 to 2007
and, most recently, was Managing Director of a private equity group
within Fidelity from 2007 until 2013. Ms. Hammond also has served
as a trustee of real estate investment trusts since 2014, serving
as a financial expert on the Audit Committee, Chair of the Special
Committee and member of the Nominating & Governance Committee.
Since 2015, she has also been a trustee of the Rhode Island School of Design and served as Chair
of the Finance Committee over the same period. Ms. Hammond is also
member of the Rhode Island State Investment Committee.
For additional information, please visit the Fund's website here
for MMD, or the website here for MEGI, or by calling the
shareholder servicing agent at (855) 456-9683.
There are risks inherent in any investment, including market
risk, interest rate risk, credit risk and the possible loss of
principal. There can be no assurance that the Fund's investment
objectives will be achieved. Shares of closed-end funds frequently
trade at a discount from their net asset value, which may increase
investor risk.
About New York Life Investments
With over $650 billion in Assets Under Management* as
of September 30, 2021, New York Life Investments is comprised
of the affiliated global asset management businesses of its parent
company, New York Life Insurance Company (New York Life), and
offers clients access to specialized, independent investment teams
through its family of affiliated boutiques. New York Life
Investments remains committed to clients through a combination of
the diverse perspectives of its boutiques and a long-lasting focus
on sustainable relationships.
New York Life Insurance Company (www.newyorklife.com), a Fortune
100 company founded in 1845, is the largest mutual life insurance
company in the United
States** and one of the largest life insurers in the world.
Headquartered in New York City, New York Life's family of
companies offers life insurance, retirement income, investments and
long-term care insurance. New York Life has the highest financial
strength ratings currently awarded to any U.S. life insurer from
all four of the major credit rating agencies***.
*AUM includes assets of Investment Advisors affiliated with New
York Life Insurance Company as of September 30, 2021. AUM for
Candriam and Ausbil is reported at the spot rate.
** Based on revenue as reported by "Fortune 500 ranked within
Industries, Insurance: Life, Health (Mutual)," Fortune magazine,
6/2/2021. For methodology, please
see http://fortune.com/fortune500/.
***Individual independent rating agency commentary as of
10/15/2020: A.M. 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
fluctuation in value.
"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.
Media Contacts:
Allison
Scott
(917) 579-8914
Allison_Scott@nylim.com
Sara Guenoun
(718) 687-6259
Sara_J_Guenoun@newyorklife.com
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SOURCE New York Life Investments