About New York Life Investments
New York Life Insurance Company (www.newyorklife.com), a Fortune 100 company founded in 1845, is the largest mutual life insurance company in
* Assets under management include the assets of
** Based on revenues reported by “Fortune 500 classified in Industries, Insurance: Life, Health (mutual)”
*** Individual comments from independent rating agencies on 10/15/2020:
âNew York Life Investmentsâ is both a service mark and the common trade name of certain investment advisers affiliated with The New York Life Insurance Company.
* Assets under management (AUM) refer to the fair market value of investments linked to real assets in respect of which
Before you consider an investment in the Fund, you should understand that you could lose money. There are risks inherent in all investments. The risks of the Fund include:
Risk associated with the new fund: The Fund is a new fund which may involve additional risk. There can be no assurance that the Fund will reach an economically viable size, in which case the Fund may cease operations. In such a case, investors may be required to liquidate or transfer their investments at an inconvenient time.
No risk of operating history: The Fund is a newly organized, non-diversified, closed-end management investment company with no previous operating history. It is designed to invest for the long term, not as a trading vehicle. The shares of closed-end investment companies frequently trade at a discount to their net asset value. This risk may be greater for investors who plan to sell their shares within a relatively short period of time after the public offering closes.
Limited term risk: Unless the Board takes action to the contrary in accordance with the Declaration of Trust, the Fund will begin the process of liquidation and dissolution at the close of business on the date of dissolution. The Fund will not seek to redeem an initial investment in Common Shares by an Investor on the Termination Date. Instead, the Fund will distribute an amount equal to the net asset value of the Fund at that time, which may be higher or lower than an investor’s initial investment.
Risk related to the infrastructure industry: The Fund is particularly exposed to adverse economic, regulatory, political, legal, geographic and other changes affecting issuers of infrastructure-related securities. Infrastructure-related companies are subject to various factors that can negatively affect their business or operations, including high interest charges related to capital construction programs, difficulties in obtaining financing for construction programs, costs associated with environmental and other regulations, effects of economic downturns, excess capacity, increased competition from other service providers, uncertainties about the availability of fuel at reasonable prices, effects of energy conservation policies , changes in market sentiment and other factors. In addition, infrastructure related businesses may be subject to regulation by various government authorities, may also be affected by government regulation of tariffs charged to customers, service disruptions and / or legal challenges due to environmental issues. , operational, the imposition of special tariffs and changes in tax laws, regulatory policies and accounting standards. There is also a risk that corruption adversely affects infrastructure projects, leading to delays and cost overruns.
Leverage risk: The use of leverage creates an opportunity for increased net dividends on investment income from common stocks, but also creates risks for holders of common stocks. Leverage is a speculative technique which exposes the Fund to increased risk and increased costs. Leverage may cause greater variations in the net asset value of the Fund. The Fund will also have to pay interest on its borrowings, if any, which may reduce the Fund’s returns.
Risk associated with equity securities: The prices of equity securities have historically experienced periods of significant volatility, particularly during recessions or other periods of financial stress. The prices of common stocks, like other equity securities, can be affected by macroeconomics and other factors affecting the stock market in general, including financial or political conditions that may affect particular sectors or the economy in question. general. Preferred shares are subject to issuer-specific risks, in addition to general equity risks, and unlike common shares, participation in the growth of an issuer may be limited.
Risk associated with debt securities: The risks of investing in debt securities include (but are not limited to) credit risk the risk that an issuer, guarantor or liquidity provider of a debt security may not or will not, or may be perceived (whether by market participants, rating agencies, services or otherwise) to be unable or unwilling to make timely payments of principal and / or interest, or to ” otherwise honor its obligations.
Foreign securities risk: Foreign securities may be subject to greater risks than
Risks associated with emerging markets: The risks of foreign investments (or exposure to foreign investments) are generally much higher when they are made in (or result in exposure to) emerging markets. Investments in emerging markets can be viewed as speculative. Emerging markets are riskier than more developed markets because they tend to develop unevenly and may never fully develop.
Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund before investing. The Fund prospectus, which contains this and other information about the Fund, should be read carefully before investing. A copy of the final prospectus relating to this Fund can be obtained by clicking on the Fund page indicated above, by contacting your financial advisor, or by calling 800-624-6782.
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