Dreyfus Municipal Bond Infrastructure Fund, Inc.
NYSE Symbol: DMB
- Seeks to provide as high a level of current income exempt from regular federal income tax as is consistent with the preservation of capital
- Portfolio comprised principally of investments that finance the development, support or improvement of America’s infrastructure
- Sub-advised by Standish, a recognized leader in municipal bond investing with a focus on credit research and timely trade execution
The Fund pursues its investment objective by investing at least 80% of its assets in municipal bonds issued to finance infrastructure sectors and projects in the United States, under normal circumstances.
Infrastructure sectors and projects in which the Fund may invest include (but are not limited to):
Investment Manager: The Dreyfus Corporation
Sub-adviser: Standish Mellon Asset Management Company LLC
CUSIP: 26203D 101
Portfolio Managers: Christine Todd, CFA, Jeffrey Burger, CFA, Daniel Rabasco, CFA, and Thomas Casey
Initial Public Offering (IPO) Effective Date: April 25, 2013
IPO Price: $15.00; 16,950,000 shares issued
Dividend Policy: Monthly (Expected to be declared approximately 45 after IPO date; distributed approximately 60-90 days after IPO date)
- Standish was founded in 1933, and is based in Boston
- Dedicated exclusively to fixed income and credit solutions
- U.S. $167 billion in assets under management, with $32 billion in total municipal bond assets under management, including $13 billion in municipal mutual fund assets.
- U.S., regional, and global mandates in 35 countries
The Fund is a newly organized, non-diversified, closed-end management company with no operating history. Shares of closed-end investment companies, such as the Fund, typically trade on a national stock exchange, and these shares frequently trade at a discount to their net asset value, which may increase investors’ risk of loss.
The material on this page is not an offer to sell these securities and is not soliciting an offer to buy or sell these securities, in any jurisdiction, by Dreyfus or its divisions, including MBSC Securities Corporation (“MBSC”).
The Fund’s common shares are traded on the New York Stock Exchange (NYSE) under the symbol “DMB.”
Certain Investment Risks:
Bond funds are subject generally to interest rate, credit, liquidity, call, and market risks, to varying degrees. High yield bonds involve increased credit and liquidity risk compared with investment grade bonds and are considered speculative in terms of the issuer’s ability to pay interest and repay principal on a timely basis. Municipal infrastructure bond funds also are subject to the special risks related to infrastructure investments, such as capital requirements and the regulatory environment related to infrastructure projects. The Fund also may employ leverage to enhance its potential to achieve its objective, through the issuance of preferred shares or participation in tender option bond programs, or may engage in derivative transactions that have the effect of leveraging the portfolio. Leverage can magnify the potential for gains and losses.
It is expected that the Fund’s distributions will generally be treated as tax-exempt income for purposes of regular U.S. Federal income tax. A portion of the Fund’s distributions may be (i) subject to U.S. Federal income tax and such distributions will generally be subject to state and local taxes, and (ii) includable in taxable income for purposes of the Federal alternative minimum tax.
Dreyfus and Standish each are wholly-owned subsidiaries of The Bank of New York Mellon Corporation.