MainStay Common Stock Fund

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MainStay Common Stock Fund

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> Performance

> Holdings

> Management

> Profile

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 (06/01/1998)	-0.80	-30.35	-10.09	-3.23	-2.95	-0.08
Class INV (02/28/2008)	-1.03	-30.66	-10.25	-3.33	-3.00	-0.12
Class B (06/01/1998)	-1.35	-31.16	-10.91	-4.04	-3.71	-0.86
Class C (09/01/1998)	-1.35	-31.16	-10.91	-4.04	-3.71	-0.86
With Sales Charges:
Class A (06/01/1998)	-6.26	-34.18	-11.77	-4.32	-3.50	-0.58
Class INV (02/28/2008)	-6.47	-34.48	-11.93	-4.42	-3.55	-0.63
Class B (06/01/1998)	-6.28	-34.61	-11.72	-4.38	-3.71	-0.86
Class C (09/01/1998)	-2.34	-31.85	-10.91	-4.04	-3.71	-0.86
Average Annual Total Returns as of 06/30/2009
NAV:
Class A (06/01/1998)	-0.80	-30.35	-10.09	-3.23	-2.95	-0.08
Class INV (02/28/2008)	-1.03	-30.66	-10.25	-3.33	-3.00	-0.12
Class B (06/01/1998)	-1.35	-31.16	-10.91	-4.04	-3.71	-0.86
Class C (09/01/1998)	-1.35	-31.16	-10.91	-4.04	-3.71	-0.86
With Sales Charges:
Class A (06/01/1998)	-6.26	-34.18	-11.77	-4.32	-3.50	-0.58
Class INV (02/28/2008)	-6.47	-34.48	-11.93	-4.42	-3.55	-0.63
Class B (06/01/1998)	-6.28	-34.61	-11.72	-4.38	-3.71	-0.86
Class C (09/01/1998)	-2.34	-31.85	-10.91	-4.04	-3.71	-0.86
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.
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 1.21%, INV 1.49%, B 2.18%, C 2.18%, I 0.71%, R2 1.06%. Net Expenses: Class A 1.06%, INV 1.42%, B 2.17%, C 2.17%, I 0.641%, R2 0.99%.

Growth of a Hypothetical $10,000 Investment at NAV

Class A shares 06/01/1998 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 B and C shares will differ based on differences in their sales charges and expense structures. S&P 500^® is a trademark of The McGraw-Hill Companies, Inc. The S&P 500 is an unmanaged index and is widely regarded as the standard for measuring large-cap U.S. stock-market performance. Results assume the reinvestment of all capital gain and dividend distributions. An investment cannot be made directly into an index.

Investment Advisor

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.

Investment Subadvisor

The Investment Advisor has delegated its portfolio management responsibilities for this Fund to its Investment 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.

Portfolio Manager(s)

Harvey Fram, CFA
Mr. Fram is the Portfolio Manager of the MainStay 130/30 Core Fund. He is also Portfolio Manager for the MainStay Common Stock Fund, MainStay VP Common Stock Portfolio, MainStay VP Mid Cap Core Portfolio, MainStay Mid Cap Core Fund, and McMorgan Equity Investment Fund, and he manages the equity portion of the McMorgan Balanced Fund. Mr. Fram is currently a Managing Director at Madison Square Investors. Prior to joining the firm in 2000, Mr. Fram was a Portfolio Manager and Research Strategist of Monitor Capital Advisors LLC (a former subsidiary of NYLIM). Mr. Fram is responsible for the management of quantitative equity portfolios. Prior to joining Monitor, he was a quantitative equity research analyst at ITG, a technology based equity brokerage firm. Mr. Fram was awarded his CFA charterholder in 1999 and has an M.B.A from the Wharton School at the University of Pennsylvania.

Migene Kim, CFA

Ms. Kim is has been part of the management team for the Common Stock Fund since 2007 and is also the Portfolio Manager for the MainStay Mid Cap Core Fund. Prior to joining NYLIM in 2005, Ms. Kim spent seven years as a quantitative research analyst at INVESCO's Structured Products Group. She started her career as an analyst at the Market Risk Management Group of Chase Manhattan Bank in 1993. Ms. Kim earned her MBA in Financial Engineering from the MIT Sloan School of Management and is a summa cum laude graduate in Mathematics from the University of Pennsylvania where she was elected to Phi Beta Kappa. She is also a CFA charterholder.

Fund Objective

To seek long-term growth of capital, with income as a secondary consideration.

Investment Strategy

>	The Fund invests primarily in equity securities of well-established, well-managed large and midsize U.S. companies that appear to have better-than-average capital appreciation potential.
>	The Fund uses historical investment standards such as price/book value ratios and price/earnings ratios to seek companies that may represent good value.
>	Depending on market conditions, the Fund may shift between growth and value orientations.
>	Sector weightings are determined using "top down" macroeconomic assessments.

Fund Statistics

	Class A	Class INV	Class B	Class C
Total Net Assets	9.2M	10.7M	9.7M	1.2M
Beta¹	1.02	1.02	1.02	1.02
Standard Deviation²	15.06	15.07	15.05	15.05
Number of Holdings	313
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.

Investor Profile

>	Investors who desire a flexible, growth-seeking investment fund, with income as a secondary consideration.
>	Investors looking for growth and value opportunities among well-managed companies.
>	Opportunistic investors who seek to take advantage of shifting market opportunities.

Why Growth and Value?

The flexibility to invest across growth and value stocks may help you take advantage of shifting opportunities as they arise.

About Risk

Growth stocks may be more volatile than other stocks because they are generally more sensitive to investor perceptions and market moves. During periods of growth stock underperformance, the Fund’s performance may suffer. The principal risk of investing in value stocks is that the price of the security may not approach its anticipated value or may decline in value. The Fund may experience a portfolio turnover rate of over 100% and may generate short-term capital gains which are taxable.

View the Prospectus

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.

All total returns are shown both with and without their maximum sales charge and assume capital gain and dividend distributions are reinvested.

Performance figures reflect certain fee waivers and/or expense limitations, without which total returns may have been lower. The fee waivers and/or expense limitations are voluntary and may be discontinued at any time. Performance for Class C shares, first offered 9/1/98, includes the historical performance of Class B shares from inception (6/1/98) through 8/31/98 adjusted to reflect the applicable CDSC and fees and expenses for such shares.

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>	First Offered
	Class A: 06/01/98
	Class INV: 02/28/08
	Class B: 06/01/98
	Class C: 09/01/98

>	Nasdaq Symbol
	Class A: MSOAX
	Class INV: MCSSX
	Class B: MOPBX
	Class C: MGOCX

>	Cusip Number
	Class A: 56062F541
	Class INV: 56062X534
	Class B: 56062F533
	Class C: 56062F269

>	Fund Number
	Class A: 910
	Class INV: 2538
	Class B: 911
	Class C: 311

>	Download Prospectus
>	View Fact Sheet
>	Access Annual / Semiannual Report

>	Morningstar Style Box^TM

The Morningstar Style Box^TM reveals a fund's investment strategy. The vertical axis shows the market capitalization of the stocks owned and the horizontal axis shows the investment style (value, blend, or growth).

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