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| MainStay Value 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. |
| Fund Performance
| Share Class (Inception) |
Category:
Equity |
YTD % |
1 Year % |
3 Year % |
5 Year % |
10 Year % |
Since Incep. % |
| Average Annual Total Returns as of 04/30/2008 |
| NAV: |
| Class A (01/03/1995) |
-3.82 |
-6.79 |
7.59 |
11.15 |
3.05 |
9.05 |
| Class INV (02/28/2008) |
-3.66 |
-6.64 |
7.65 |
11.18 |
3.06 |
9.06 |
| Class B (05/01/1986) |
-4.05 |
-7.50 |
6.80 |
10.32 |
2.27 |
8.27 |
| Class C (09/01/1998) |
-4.05 |
-7.50 |
6.80 |
10.32 |
2.27 |
8.27 |
With Sales Charges: |
| Class A (01/03/1995) |
-9.11 |
-11.92 |
5.58 |
9.90 |
2.46 |
8.77 |
| Class INV (02/28/2008) |
-8.96 |
-11.78 |
5.64 |
9.93 |
2.48 |
8.78 |
| Class B (05/01/1986) |
-8.85 |
-11.63 |
5.95 |
10.05 |
2.27 |
8.27 |
| Class C (09/01/1998) |
-5.01 |
-8.32 |
6.80 |
10.32 |
2.27 |
8.27 |
| Average Annual Total Returns as of 03/31/2008 |
| NAV: |
| Class A (01/03/1995) |
-8.31 |
-7.17 |
5.26 |
11.63 |
2.49 |
8.85 |
| Class INV (02/28/2008) |
-8.15 |
-7.01 |
5.32 |
11.66 |
2.51 |
8.86 |
| Class B (05/01/1986) |
-8.47 |
-7.87 |
4.48 |
10.80 |
1.73 |
8.07 |
| Class C (09/01/1998) |
-8.47 |
-7.87 |
4.48 |
10.80 |
1.73 |
8.07 |
With Sales Charges: |
| Class A (01/03/1995) |
-13.35 |
-12.28 |
3.29 |
10.37 |
1.92 |
8.57 |
| Class INV (02/28/2008) |
-13.20 |
-12.13 |
3.35 |
10.41 |
1.93 |
8.58 |
| Class B (05/01/1986) |
-13.05 |
-11.97 |
3.65 |
10.53 |
1.73 |
8.07 |
| Class C (09/01/1998) |
-9.39 |
-8.69 |
4.48 |
10.80 |
1.73 |
8.07 |
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. Performance data shown at NAV does not reflect the deduction of the sales load, which, if reflected, would reduce the performance quoted.
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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, generally available to corporate & institutional investors with a minimum initial investment of $5 million. Class R1 & R2: No initial sales charge or CDSC, available only through corporate-sponsored retirement programs, which include certain minimum program requirements. Gross Expenses: Class A 1.12%, INV 1.32%, B 2.03%, C 2.03%, R1 0.87%, R2 1.12%, I 0.76%
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| | Growth of a Hypothetical $10,000 Investment at NAV | |  | | Class B shares 05/01/1986 to 03/31/2008. 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® Value Index is an unmanaged index that measures the
performance of those Russell 1000 companies with lower price-to-book ratios and
lower 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) | |
Top Holdings
| |
% of Net Assets |
| AT&T, Inc. |
3.8% |
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| Bank of America Corp. |
3.1% |
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| Intel Corp. |
2.8% |
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| CVS/Caremark Corp. |
2.8% |
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| Verizon Communications Inc. |
2.8% |
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| ExxonMobil Corp. |
2.7% |
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| Johnson & Johnson |
2.6% |
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| International Business Machines Corp. |
2.4% |
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| ChevronTexaco Corp. |
2.3% |
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| PNC Financial Services Group, Inc. |
2.3% |
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Top Sectors
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% of Net Assets |
| Financials |
21.3% |
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| Energy |
15.1% |
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| Health Care |
11.6% |
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| Information Technology |
9.5% |
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| Consumer Staples |
9.3% |
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| Consumer Discretionary |
8.8% |
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| Industrials |
7.0% |
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| Telecommunication Services |
6.5% |
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| Materials |
5.0% |
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| Utilities |
2.7% |
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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 $246 billion in assets under management as of March 31, 2008. 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 Investment Subadvisor, MacKay Shields LLC. MacKay Shields has specialized in money management for over 30 years, serving institutional and corporate clients.
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Portfolio Manager(s)
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| |  Richard A. Rosen, CFA
Mr. Rosen has managed MainStay Value and Mid Cap Value Funds since 1999. He also manages the MainStay Total Return Fund. Mr. Rosen is Senior Managing Director of MacKay Shields and Head of the Value Equity Division. He joined MacKay Shields in January 1999 after working as a Managing Director and Equity Portfolio Manager at Prudential Investments from August 1991 to January 1999. Prior to that, Mr. Rosen spent five years with Marine Midland Bank where he was a Senior Portfolio Manager and Vice President. Earlier in his career, he was a Municipals Securities Officer at Summit Bancorporation and an Account Executive at Merrill Lynch, Pierce, Fenner, & Smith, Inc. in New York. Mr. Rosen received a B.A. from Drew University and an M.B.A. from Boston University Graduate School of Management. He has been in the investment management and research industry since 1984 and is a Chartered Financial Analyst.
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Investment Strategy
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The Fund normally invests in U.S. common stocks that the subadvisor believes are "undervalued" (selling below their value) when purchased and those which typically pay dividends, although there may be non-dividend paying stocks if they meet the "undervalued" criterion. |
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The Fund also invests in common stocks that are listed on a national securities exchange or are traded in the over-the-counter market. Usually, stocks deemed by the subadvisor to be at full value will be replaced with new, "undervalued" stocks. |
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When assessing whether a stock is undervalued, the subadvisor considers many factors and will compare the stock's market price to the company's cash flow, interest coverage ratios, book value, estimated value of the company's assets (liquidating value), and growth rates and future earnings. |
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The subadvisor may sell a security if it no longer believes that the security will contribute to meeting the investment objective of the Fund. |
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Fund Statistics
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Class A |
Class INV |
Class B |
Class C |
| Total Net Assets |
268.8M |
157.2M |
114.4M |
9.5M |
| Beta1 | 0.92 | 0.92 | 0.92 | 0.92 | | Standard Deviation2 | 9.16 | 9.16 | 9.15 | 9.15 | | Number of Holdings | 63 | | | | | Purchases | $1,000 minimum initial investment,
$50 subsequent | |
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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 believe that undervalued stocks may represent potential opportunities. |
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Investors seeking a value component in a growth-oriented portfolio. |
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Why Value Stocks?
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Value equities offer potential for appreciation and are a natural complement to growth investments.
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| | 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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What You Should Know
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| 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.
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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.
Class A and R2 shares have an annual 12b-1 fee of .25%. Class B and C shares have an annual 12b-1 fee of 1.00%. Class I and R1 shares have no annual 12b-1 fee.
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| 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: MVAAX |
| Class INV: MVINX |
| Class B: MKVAX |
| Class C: MSCVX |
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| > |
| Class A: 56062F814 |
| Class INV: 56062X351 |
| Class B: 56062F202 |
| Class C: 56062F392 |
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| > |
| Class A: 641 |
| Class INV: 2572 |
| Class B: 41 |
| Class C: 741 |
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