NYLI MacKay DefinedTerm Muni Opportunities Fund (New York Life Insurance Company)

The NYLI MacKay DefinedTerm Muni Opportunities Fund is a U.S.-based diversified closed-end management investment company. Its primary investment objective is to seek current income that is exempt from regular U.S. Federal income taxes, with a secondary objective of total return. The fund is organized as a Delaware statutory trust, and its investment manager, New York Life Investment Management LLC, is headquartered in New York, New York.

The fund aims to achieve its objectives by investing at least 80% of its managed assets in municipal bonds, the interest on which is generally excludable from gross income for regular U.S. Federal income tax purposes. It employs an opportunistic and active management strategy to identify relative value across the municipal bond market, seeking to provide attractive, generally tax-exempt monthly distributions and total return potential. As a defined-term fund, it has a specified termination date, which was extended to December 31, 2036, following certain conditions.

Managed by New York Life Investment Management LLC and co-managed by MacKay Shields LLC, the fund's municipal bond strategies are overseen by MacKay Municipal Managers. The fund's shares trade on the New York Stock Exchange under the ticker symbol MMD. It has a history of declaring monthly dividend distributions and was noted as a top-performing fund in its category over a 10-year period ending September 30, 2024.