NEW YORK, Aug. 3, 2020 /PRNewswire/ -- MainStay MacKay
DefinedTerm Municipal Opportunities Fund (the "Fund") (NYSE: MMD)
today announced the monthly dividend distribution of $0.085 per common share for the month
of August 2020. This amount is consistent with the Fund's
prior dividend distributions in 2020, which were also $0.085 per common share.
Portfolio and municipal market commentary will be published on
or around August 1, 2020 and can be
retrieved here.
Dividend Distribution Schedule:
Month
|
Declaration
Date
|
Ex-Date
|
Record
Date
|
Payable
Date
|
August
|
8/3/2020
|
8/13/2020
|
8/14/2020
|
8/31/2020
|
The Fund's dividend will be derived from its monthly
undistributed net investment income and is not expected to contain
any return of principal.
The Fund's daily New York Stock Exchange closing prices, net
asset values per share, as well as other information are available
by clicking here or by calling the Fund's shareholder
servicing agent at (855) 456-9683.
For more insights from MacKay Municipal Managers™ and our New
York Life Investments affiliates click here.
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 $600 billion in Assets Under
Management* as of June 30, 2020, 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 June 30,
2020. 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,
5/18/20. For methodology, please see
http://fortune.com/fortune500/.
***Individual independent rating agency commentary as of
9/12/19: 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.
For more information about MainStay Funds®, call 800-624-6782
for a prospectus or summary prospectus. Investors are asked to
consider the investment objectives, risks, and charges and expenses
of the investment carefully before investing. The prospectus or
summary prospectus contains this and other information about the
investment company. Please read the prospectus or summary
prospectus carefully before investing.
MainStay Funds® are managed by New York Life
Investment Management LLC and distributed by NYLIFE Distributors
LLC, 30 Hudson Street, Jersey City,
NJ 07302, a wholly owned subsidiary of New York Life
Insurance Company. NYLIFE Distributors LLC is a Member
FINRA/SIPC.
About MacKay Shields LLC
MacKay Shields LLC ("MacKay") is an indirect wholly-owned
subsidiary of New York Life Insurance Company and a wholly-owned
subsidiary of New York Life Investment Management Holdings LLC.
MacKay is a fixed-income and equity investment management firm with
$134 billion in assets under
management as of June 30, 2020.
MacKay manages fixed income and equity strategies for high-net
worth individuals, institutional clients, and mutual funds. For
more information visit www.mackayshields.com
Media Contact:
Netanel
Spero | New York Life | 212-576-3814 |
Netanel_d_Spero@newyorklife.com
Investors Contact:
855-456-9683
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SOURCE MacKay Shields LLC