NYLI CBRE Global Infrastructure Megatrends Term Fund Filing

TL;DR

NYLI CBRE Global Infra Megatrends Term Fund filed DEFA14A, former name MainStay CBRE Global Infra Megatrends Term Fund.

AI Summary

NYLI CBRE Global Infrastructure Megatrends Term Fund filed a DEFA14A on September 6, 2024. This filing is a definitive additional material, indicating it's not a preliminary proxy statement or soliciting material under Rule 14a-12. The fund was formerly known as MainStay CBRE Global Infrastructure Megatrends Term Fund until June 30, 2023.

Why It Matters

This filing provides important updates and materials related to the fund's proxy statement, which shareholders should review for governance and operational information.

Risk Assessment

Risk Level: low — This is a routine filing for a publicly traded fund, providing information rather than indicating significant new risks.

Key Players & Entities

• NYLI CBRE Global Infrastructure Megatrends Term Fund (company) — Registrant
• MainStay CBRE Global Infrastructure Megatrends Term Fund (company) — Former company name
• 20240906 (date) — Filing date
• 20230630 (date) — Date of name change

FAQ

Key Financial Figures

• $0.130 M — onthly Distribution Per Share 9.6% 8.1% $0.130 MEGI Peer Average $0.125 Market Price Dis
• $0.125 M — hare 9.6% 8.1% $0.130 MEGI Peer Average $0.125 Market Price Distribution Rate $0.120 15%
• $0.120 — e $0.125 Market Price Distribution Rate $0.120 15% increase in monthly Amount $0.115 1
• $0.115 — e $0.120 15% increase in monthly Amount $0.115 10.8% 8.8% distribution rate in August
• $0.110 — st 2023. MEGI Peer Average Distribution $0.110 $0.105 2-Year Distribution Change $0.10
• $0.105 — . MEGI Peer Average Distribution $0.110 $0.105 2-Year Distribution Change $0.100 15% 0
• $0.100 — 0.110 $0.105 2-Year Distribution Change $0.100 15% 0.3% $0.095 MEGI Peer Average 22 22
• $0.095 M — ear Distribution Change $0.100 15% 0.3% $0.095 MEGI Peer Average 22 22 22 22 22 22 22 22
• $100,000 — ee committing to investing in excess of $100,000 across the fund family. Two of the trus

Filing Documents

• d806765ddefa14a.htm (DEFA14A) — 44KB
• g806765g02g02.jpg (GRAPHIC) — 74KB
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• 0001193125-24-215142.txt ( ) — 3905KB

From the Filing

CBRE GLOBAL INFRASTRUCTURE MEGATRENDS TERM FUND NYLI CBRE GLOBAL INFRASTRUCTURE MEGATRENDS TERM FUND UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 14A INFORMATION PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Pursuant to Rule 14a-12 NYLI CBRE GLOBAL INFRASTRUCTURE MEGATRENDS TERM FUND (Name of Registrant as Specified in its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of filing fee (Check the appropriate box): No fee required. Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11. 1) Title of each class of securities to which transaction applies: N/A 2) Aggregate number of securities to which transaction applies: N/A 3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is calculated and state how it was determined): N/A 4) Proposed maximum aggregate value of transaction: N/A 5) Total fee paid: N/A Fee paid with preliminary materials. Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. 1) Amount Previously Paid: N/A 2) Form, Schedule or Registration Statement No.: N/A 3) Filing Party: N/A 4) Date Filed: N/A NYLI CBRE Global Infrastructure Megatrends Term Fund (MEGI) Institutional Shareholder Services Presentation September 2024 Change of Independent Trustees is Not Warranted Page | 2 Change is Not Warranted The proposed change to the Funds trustees is not warranted. The Board maintains confidence in its ability and the investment managers ability to deliver attractive total returns and income over the life of the Fund. MEGI was launched into a challenging market environment for high-yielding infrastructure assets. Despite market headwinds, MEGI has maintained an attractive level of distribution relative to its peer group. Fund performance over its short operating history is not representative of the long-term potential of the Funds unique investment strategy. The Board and Fund management are committed to continued thoughtful actions designed to enhance long-term shareholder value and improving the relationship between the Funds Net Asset Value (NAV) and its market price. Progressive fund structure: MEGIs limited-term structure is designed to benefit long-term shareowners, by providing shareholders liquidity at the end of the term at NAV and therefore eliminating the market price discount (if any). Competitive total expenses: The Funds total operating expenses and management fees are competitive with peers. Robust secondary market support: Dedicated investor relations team actively engaging with shareholders and industry analysts through ongoing outreach and quarterly shareholder calls. Discount narrowing initiatives: Approved an 15% increase to the Funds monthly distribution. Renamed the Fund with the goal of highlighting limited-term structure designed to benefit long-term shareholders. Page | 3 Experienced Nominees The Boards nominees have decades of experience in senior executive roles at leading asset managers and large public accounting firms, including Fidelity, Arthur Andersen and Ernst and Young. Attributes of Incumbent Trustees Deep Expertise Active Oversight Independent Governance Significant closed-end fund, investment company, and/or business leadership experience; Best positioned and fully embrace their duty to protect and further the long-term interest of ALL shareholders; Strong track record of taking decisive actions to deliver performance, address the discount and enhance value for all shareholders; and Maintain confidence in their ability and the ability of the Fund and its investment team to perform over the long term and to deliver on the Funds investment objective. 16+ 56+ ~100% Years of Closed-End Fund Years of Relevant Business Attendance at Experience Leadership Experience Board Meetings Page | 4 Sound Corporate Governance The Board has established various committees through which the Independent Trustees focus on matters relating to particular aspects of the Funds operations, such as investments, risk oversight and compliance, Fund fees and expenses and financial reporting. Independent and Active Risk Oversight Audit Committee Responsible for overseeing the Funds processes for accounting, auditing, financial reporting and related internal controls and compliance with applicable laws

View Full Filing

View this DEFA14A filing on SEC EDGAR