NEW YORK--(BUSINESS WIRE)--MainStay DefinedTerm Municipal Opportunities Fund (the “Fund”) (NYSE:MMD) today announced monthly dividend distributions of $0.098 per common share for the months of October, November and December 2014. This amount represents an increase from the Fund’s September dividend distribution, which was $0.097 per common share.
The Fund is also pleased to announce that it will provide a quarterly update on the Fund and the municipal market. A recording will be available to shareholders and the public on or around October 6, 2014. The recording will provide the latest insights and commentary from David Dowden, the Fund’s Co-Portfolio Manager and a Managing Director of the MacKay Municipal Managers™ team at MacKay Shields LLC.
Details for the recording are as follows:
|Monday, October 6, 2014|
Please note that this recording will be available until November 30. A written summary of the recording will be available at www.mainstayinvestments.com/mmd.
Dividend Distribution Schedule:
|Month||Declaration Date||Ex-Date||Record Date||Payable Date|
The Fund's dividend is derived from its monthly undistributed net investment income and does not 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 at www.mainstayinvestments.com/mmd or by calling the Fund’s 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 www.mainstayinvestments.com/munis and enter your email address.
About MainStay Investments
With over $104 billion in assets under management as of July 31, 2014, 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 today’s 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 Fund’s 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 fixed-income focused investment management firm with over $89 billion in assets under management as of July 31, 2014. MacKay manages fixed income strategies for high-net worth individuals, institutional clients and mutual funds, including unconstrained bond, global high yield, high yield, high yield active core, municipal high yield, short duration high yield, low volatility high yield, municipal short term, core investment grade, municipal investment grade, core plus, core plus opportunities, convertibles, emerging markets credit, and bank loans.
*Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/16/14. For methodology, please see http://fortune.com/fortune500/.