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| MainStay Capital Appreciation Fund |
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Get to know each MainStay Fund with these in-depth views. Simply click on the tabs below for related information.
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| Fund Performance
| Share Class (Inception) |
Category:
Equity |
YTD % |
1 Year % |
3 Year % |
5 Year % |
10 Year % |
Since Incep. % |
| Average Annual Total Returns as of 06/30/2009 |
| NAV: |
| Class A (01/03/1995) |
9.93 |
-26.29 |
-8.05 |
-3.19 |
-5.28 |
7.20 |
| Class INV (02/28/2008) |
9.71 |
-26.58 |
-8.19 |
-3.27 |
-5.32 |
7.18 |
| Class B (05/01/1986) |
9.31 |
-27.14 |
-8.89 |
-4.01 |
-6.04 |
6.37 |
| Class C (09/01/1998) |
9.31 |
-27.17 |
-8.89 |
-4.01 |
-6.04 |
6.37 |
With Sales Charges: |
| Class A (01/03/1995) |
3.89 |
-30.34 |
-9.77 |
-4.28 |
-5.82 |
6.94 |
| Class INV (02/28/2008) |
3.68 |
-30.62 |
-9.90 |
-4.36 |
-5.86 |
6.92 |
| Class B (05/01/1986) |
4.31 |
-30.78 |
-9.74 |
-4.37 |
-6.04 |
6.37 |
| Class C (09/01/1998) |
8.31 |
-27.90 |
-8.89 |
-4.01 |
-6.04 |
6.37 |
| Average Annual Total Returns as of 06/30/2009 |
| NAV: |
| Class A (01/03/1995) |
9.93 |
-26.29 |
-8.05 |
-3.19 |
-5.28 |
7.20 |
| Class INV (02/28/2008) |
9.71 |
-26.58 |
-8.19 |
-3.27 |
-5.32 |
7.18 |
| Class B (05/01/1986) |
9.31 |
-27.14 |
-8.89 |
-4.01 |
-6.04 |
6.37 |
| Class C (09/01/1998) |
9.31 |
-27.17 |
-8.89 |
-4.01 |
-6.04 |
6.37 |
With Sales Charges: |
| Class A (01/03/1995) |
3.89 |
-30.34 |
-9.77 |
-4.28 |
-5.82 |
6.94 |
| Class INV (02/28/2008) |
3.68 |
-30.62 |
-9.90 |
-4.36 |
-5.86 |
6.92 |
| Class B (05/01/1986) |
4.31 |
-30.78 |
-9.74 |
-4.37 |
-6.04 |
6.37 |
| Class C (09/01/1998) |
8.31 |
-27.90 |
-8.89 |
-4.01 |
-6.04 |
6.37 |
Performance data quoted represents past performance. Past performance is no guarantee of future results. Due to market volatility, current performance may be less or higher than the figures shown. Investment return and principal value will fluctuate so that upon redemption, shares may be worth more or less than their original cost.
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Class A & INV: 5.5% maximum initial sales charge. Class B: CDSC up to 5% if redeemed within six years. Class C: 1% CDSC if redeemed within one year. Class I: No initial sales charge or CDSC. Gross Expenses: Class A 1.23%, INV 1.50%, B 2.14%, C 2.15%, I 0.79%.
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| | Growth of a Hypothetical $10,000 Investment at NAV | |  | | Class B shares 05/01/1986 to 03/31/2009. Based on total returns with reinvestment of
distributions and does not reflect the effect of any sales charges, which would
reduce performance shown. Performance for Class A and C shares will differ based
on differences in their sales charges and expense structures. The Russell
1000® Growth Index is an unmanaged index that measures the
performance of those Russell 1000 companies with higher price-to-book ratios and
higher forecasted growth values. Results assume the reinvestment of all capital gain
and dividend distributions. An investment cannot be made directly into an index. |
| > View total monthly holdings (30-day delayed) | | > View Securities Lending Statement | |
Top Holdings
| |
% of Net Assets |
| Microsoft Corp. |
4.2% |
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| International Business Machines Corp. |
3.8% |
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| DIRECTV Group, Inc. |
3.2% |
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| Wal-Mart Stores, Inc. |
2.7% |
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| AutoZone, Inc. |
2.6% |
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| Apple, Inc. |
2.5% |
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| Thermo Fisher Scientific, Inc. |
2.4% |
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| PepsiCo, Inc. |
2.2% |
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| Oracle Corp. |
2.2% |
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| Kohl's Corp. |
2.1% |
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Top Sectors
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% of Net Assets |
| Information Technology |
27.3% |
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| Health Care |
17.6% |
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| Consumer Discretionary |
14.1% |
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| Consumer Staples |
12.9% |
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| Industrials |
9.4% |
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| Energy |
7.4% |
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| Materials |
3.2% |
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| Utilities |
1.5% |
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| Financials |
1.0% |
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| Telecommunication Services |
0.7% |
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| | Portfolio Composition
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Investment Advisor
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| MainStay is a division of New York Life Investment Management LLC (NYLIM), a world-class financial services organization that with its affiliates has more than $224 billion in assets under management as of March 31, 2009. NYLIM is the Investment Advisor for all MainStay Funds and serving as manager, runs the Funds' day-to-day business.
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Investment Subadvisor
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The Investment Advisor has delegated its portfolio management responsibilities for this Fund to its interim Subadvisor, Madison Square Investors, which is a subsidiary of New York Life Investment Management Holdings LLC. The firm offers quantitative investment solutions to a wide range of individual, corporate, public, endowment and foundation, and Taft-Hartley clients. Madsion Square Investors applies a disciplined investment process that brings together the important elements of security analysis, risk management, and superior portfolio construction across all of their investment strategies.
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Portfolio Manager(s)
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| | | Harish Kumar, Ph.D., CFA | | Dr. Kumar is a Managing Director and Head of Growth Portfolios at Madison Square Investors. Prior to joining the firm in 2005, Dr. Kumar served as a Senior Portfolio Manager at ING Investment Management since 2002. He received his Ph.D. from Columbia University, his master's degree from the University of Colorado-Boulder, and graduated with honors from Birla Institute of Technology and Science in Pilani, India, receiving a bachelor's degree in mechanical engineering. Dr. Kumar is a CFA charterholder, and has 8 years of investment experience.
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Fund Objective
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| The Fund's investment objective is to seek long-term growth of capital.
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Investment Strategy
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| The Fund normally invests at least 80% of its assets in equity securities.
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Fund Statistics
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Class A |
Class INV |
Class B |
Class C |
| Total Net Assets |
165.2M |
191.5M |
101.9M |
2.2M |
| Beta1 | 0.95 | 0.95 | 0.95 | 0.95 | | Standard Deviation2 | 15.32 | 15.35 | 15.34 | 15.35 | | Number of Holdings | 69 | | | | | Purchases | $1,000 minimum initial investment,
$50 subsequent | |
| | 1Beta is a measure of historical volatility
relative to an appropriate index based on its investment objective.
A beta greater than 1.00 indicates volatility greater than the market's.
Beta shown is based on monthly returns over the last three years.
2Standard Deviation measures how widely dispersed a
fund's returns have been over a specified period of time (five years).
A high standard deviation indicates that the range is wide, implying
greater potential for volatility. | |
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Investor Profile
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| > |
Investors who can accept the higher risks of equity investing as they pursue long-term growth. |
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Investors who don't need to earn current income. |
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Investors seeking to add growth potential to an income-oriented portfolio. |
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Why Growth Stocks?
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Well-managed companies with solid earnings growth may offer long-term capital appreciation potential.
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About Risk
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Investments in common stocks and other equity securities are particularly subject to the risks of changing economic, stock market, industry and company conditions and the risks inherent in management's ability to anticipate such changes that can adversely affect the value of the Fund's holdings. Opportunities for greater gain often come with greater risk of loss. Some of the securities in which the Fund invests may, therefore, carry above-average risk compared to common stock indices such as the Dow Jones Industrial Average and the S&P 500® Index.
The principal risk of growth stocks is that investors expect growth companies to increase their earnings at a rate that is generally higher than the rate expected for non-growth companies. If these expectations are not met, the market price of the stock may decline significantly, even if earnings show an absolute increase. Growth company stocks also typically lack the dividend yield that can cushion stock prices in market downturns.
The Fund's use of securities lending presents certain risks. The risk of securities lending is that the financial institution that borrows securities from the Fund could go bankrupt or otherwise default on its commitment under the securities lending agreement and the Fund might not be able to recover the loaned securities or their value.
In a securities lending transaction, a Fund lends securities from its portfolio to a broker-dealer (or other financial institution) for a period of time. The Fund receives interest and/or a fee and a promise that the securities will be returned on a fixed date.
The Fund invests in foreign securities, which are securities issued by companies organized outside the U.S. and traded in markets outside the U.S., it will be subject to risks that differ from the risks of investing in securities of U.S. issuers. These risk factors include:
- fluctuating currency values;
- less liquid trading markets;
- greater price volatility;
- political and economic instability;
- less publicly available information about issuers;
- changes in U.S. or foreign tax or currency laws; and
- changes in monetary policy.
Foreign securities can be subject to most, if not all, of the risks of foreign investing. These risks are likely to be greater in emerging market countries than in countries with developed securities markets and more advanced regulatory regimes.
Due to its trading strategies, the Fund may experience a portfolio turnover rate of over 100%. Funds with high turnover rates (over 100%) often have higher transaction costs (which are paid by the Fund) and may generate short-term capital gains (on which you may pay taxes, even if you do not sell any shares by year-end).
Portfolio turnover measures the amount of trading a Fund does during the year.
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View the Prospectus
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This mutual fund may be offered and sold only to persons in the United States. Please contact your investment professional or call 800-MAINSTAY (624-6782) for a prospectus or download it now. Please consider the investment objectives, risks, and charges and expenses of the investment carefully before investing. The prospectus contains this and other information about the investment company. Please read it carefully before you invest.
NYLIFE Distributors LLC, 169 Lackawanna Avenue, Parsippany, NJ 07054.
These products are not federally insured or guaranteed by the U.S. government, the Federal Deposit Insurance Corporation, or similar agency.
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| All total returns are shown both with and without their maximum sales charge and assume capital gain and dividend distributions are reinvested. |
| Performance for Class A and C shares, first offered 1/3/95 and 9/1/98, respectively, includes the historical performance of the Fund's Class B shares from inception (5/1/86) through 12/31/94 for Class A shares and through 8/31/98 for Class C shares, adjusted to reflect the applicable sales charge (or CDSC) and fees and expenses for such shares. Performance for Class I shares, first offered 1/2/04, includes the historical performance of the Fund's Class B shares from inception through 12/31/03 adjusted to reflect the applicable fees and expenses for such shares. |
| > Back to Top |
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| Class A: 01/03/95 |
| Class INV: 02/28/08 |
| Class B: 05/01/86 |
| Class C: 09/01/98 |
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| > |
| Class A: MCSAX |
| Class INV: MCPPX |
| Class B: MCSCX |
| Class C: MCACX |
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| > |
| Class A: 56062F665 |
| Class INV: 56062X542 |
| Class B: 56062F103 |
| Class C: 56062F459 |
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| > |
| Class A: 640 |
| Class INV: 2537 |
| Class B: 40 |
| Class C: 740 |
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