NEW YORK, Jan. 3, 2017 /PRNewswire/ -- MainStay DefinedTerm Municipal Opportunities Fund (the "Fund") (NYSE: MMD) today announced the appointment of Yie-Hsin Hung, chief executive officer of New York Life Investment Management LLC (NYLIM), to the Fund's Board of Trustees. Ms. Hung joined the Board on December 31, 2016, as a Class III trustee and replaced Christopher O. Blunt. Also on December 31, 2016, John A. Weisser retired from the Board. The total size of the Fund's Board of Trustees is currently eight, seven of whom are independent.
Yie-Hsin Hung is the chief executive officer of NYLIM, a role she has held since 2015. She joined New York Life in 2010 to run the institutional investments business and was promoted to co-president of NYLIM in 2014. Ms. Hung came to the company with years of investment industry experience, most recently at Bridgewater Associates and as managing director and global head of strategic acquisitions and alliances at Morgan Stanley Investment Management. At Morgan Stanley, she also served as chief administrative officer and head of the firm's private equity and absolute return businesses. Prior to that, Ms. Hung was a managing director in Morgan Stanley's investment banking division, with a primary focus on real estate. Ms. Hung received a BSc degree from Northwestern University and holds an MBA degree from Harvard Business School.
For additional information, please visit the Fund's website at www.mainstayinvestments.com/mmd or by calling the Fund's shareholder servicing agent at (855) 456-9683.
There are risks inherent in any investment, including market risk, interest rate risk, credit risk and the possible loss of principal. There can be no assurance that the Fund's investment objectives will be achieved. Shares of closed-end funds frequently trade at a discount from their net asset value, which may increase investor risk.
About MainStay Investments
With $78.5 billion in assets under management as of October 31, 2016, across retail mutual funds, exchange traded funds (ETFs) and variable product sub-accounts, MainStay Investments is the mutual fund and ETF distribution arm of New York Life Insurance Company. MainStay provides access to a powerful mix of autonomous, institutional investment managers, delivered by experienced professionals who understand the needs of today's investors. For more information on MainStay Investments, please visit www.mainstayinvestments.com.
MainStay Investments® is a registered service mark and name under which New York Life Investment Management LLC does business.
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 $97 billion in assets under management as of October 31, 2016. 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.
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SOURCE New York Life