NEW YORK, Nov. 1, 2012 /PRNewswire/ -- MainStay DefinedTerm Municipal Opportunities Fund (the "Fund") (NYSE: MMD) today announced the November distribution. The following dates apply to today's distribution declaration:
About MainStay Investments
With over $65.5 billion in assets under management as of September 30, 2012, 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 multi product investment management firm with over $74 billion in assets as of September 30, 2012. 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 convertible strategies.
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.
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 views 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 views expressed herein. The views 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 views expressed herein.
*Based on revenue as reported by "Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual)," Fortune magazine, May 21, 2012.
SOURCE MainStay Investments