MainStay DefinedTerm Municipal Opportunities Fund Declares Monthly Dividend Distributions for the Months of October, November and December
Next Shareholder Conference Call on October 8, 2013 at 4:15pm ET
NEW YORK--(BUSINESS WIRE)-- MainStay DefinedTerm Municipal Opportunities Fund (MMD) (the Fund) today announced monthly dividend distributions of $0.096 per common share for the months of October, November and December 2013. This amount represents an increase from the Funds September dividend distribution which was $0.0958 per common share. The announcement of any year-end ordinary income and/or capital gains distributions would occur on or about December 2, 2013, and would be additive to the December income distribution.
The Fund is also pleased to announce that it will host its next shareholder conference call on October 8, 2013 at 4:15pm ET. The call is open to the public and will be led by Robert DiMella, the Funds Co-Portfolio Manager and Co-Head of the MacKay Municipal Managers" team at MacKay Shields LLC. In addition to providing an update on the Fund, Mr. DiMella will discuss his teams latest market insights and where theyre finding opportunities, which can be found here: https://www.mackayshields.com/images/pdf/Insights_Muni_Sept2013.pdf.
Details for the call are as follows:
|Call Date:||Tuesday, October 8, 2013|
|Call Time:||4:15pm Eastern Time|
|Call Number:||(877) 648-7974|
Please note that a replay of the call will be available for two months, beginning on or before Wednesday, October 16, 2013. A written summary of the call will be available at www.mainstayinvestments.com/mmd.
Shareholders are invited to submit questions in advance of the call by sending an email to email@example.com.
Please be advised that the next Shareholder Conference Call will be held on Tuesday, January 14, 2014.
Dividend Distribution Schedule:
The Funds daily New York Stock Exchange closing prices, net asset values per share, as well as other information, are available at www.mainstayinvestments.com/mmd or by calling the Funds shareholder servicing agent at (855) 456-9683.
To subscribe to the Weekly MainStay Muni Monitor to receive weekly perspectives from MacKay Municipal Managers" go to mainstayinvestments.com/munis and enter your e-mail address.
About MainStay Investments
With over $80 billion in assets under management as of July 31, 2013, MainStay Investments is the mutual fund distribution arm of New York Life. MainStay provides financial advisors access to a powerful mix of autonomous, institutional investment managers, delivered by people who understand the needs of todays financial advisor. As an indirect subsidiary of New York Life Insurance Company, a Fortune 100 company founded in 1845, MainStay is owned by the largest mutual life insurance company in the United States* and one of the largest life insurers in the world.
About MacKay Shields LLC
MacKay Shields LLC (MacKay) serves as the Funds investment sub-advisor. 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 multi product investment management firm with approximately $76 billion in assets as of July 31, 2013. MacKay manages a number of fixed income strategies for institutional clients and retail mutual funds, including: high yield, high yield active core, core plus, global fixed income, municipal and investment grade. MacKay also manages a convertible strategy.
Past performance is no assurance of future results. Investment return and market value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original cost.
A portion of the Funds income may be subject to state and local taxes or the alternative income tax. The Fund may invest in derivatives, which may increase the volatility of the Fund's net asset value and may result in a loss to the Fund. Funds that invest in bonds are subject to credit (default) and interest-rate risk and can lose principal value when interest rates rise. The Fund uses leverage, which will magnify the Funds investment, market, and certain other risks.
This material may include statements that constitute forward-looking statements under the U.S. securities laws. Forward-looking statements include, among other things, projections, estimates and information about possible or future results or events related to the Fund, market or regulatory developments. The information expressed herein are not guarantees of future performance or economic results and involve certain risks, uncertainties and assumptions that could cause actual outcomes and results to differ materially from the information expressed herein. The information expressed herein are subject to change at any time based upon economic, market, or other conditions and the Fund undertakes no obligation to update the information expressed herein.
|1 Derived from undistributed net income.|
|2 December dividend may be higher due to a possible cap gain distribution - The Funds annual capital gain distribution, if any, will be announced on or about December 2, 2013.|
*Based on revenue as reported by Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual), Fortune magazine, May 20, 2013.
New York Life
Allison Scott, 212-576-4517
Source: MainStay DefinedTerm Municipal Opportunities FundCopyright Business Wire 2013