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| MainStay Government 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:
Income |
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) |
-0.30 |
7.34 |
6.51 |
4.68 |
5.16 |
6.26 |
| Class INV (02/28/2008) |
-0.36 |
7.17 |
6.45 |
4.65 |
5.15 |
6.26 |
| Class B (05/01/1986) |
-0.74 |
6.40 |
5.65 |
3.91 |
4.36 |
5.49 |
| Class C (09/01/1998) |
-0.74 |
6.27 |
5.66 |
3.89 |
4.35 |
5.49 |
With Sales Charges: |
| Class A (01/03/1995) |
-4.78 |
2.51 |
4.88 |
3.72 |
4.68 |
6.05 |
| Class INV (02/28/2008) |
-4.85 |
2.34 |
4.83 |
3.69 |
4.66 |
6.04 |
| Class B (05/01/1986) |
-5.64 |
1.40 |
4.75 |
3.57 |
4.36 |
5.49 |
| Class C (09/01/1998) |
-1.72 |
5.27 |
5.66 |
3.89 |
4.35 |
5.49 |
| Average Annual Total Returns as of 06/30/2009 |
| NAV: |
| Class A (01/03/1995) |
-0.30 |
7.34 |
6.51 |
4.68 |
5.16 |
6.26 |
| Class INV (02/28/2008) |
-0.36 |
7.17 |
6.45 |
4.65 |
5.15 |
6.26 |
| Class B (05/01/1986) |
-0.74 |
6.40 |
5.65 |
3.91 |
4.36 |
5.49 |
| Class C (09/01/1998) |
-0.74 |
6.27 |
5.66 |
3.89 |
4.35 |
5.49 |
With Sales Charges: |
| Class A (01/03/1995) |
-4.78 |
2.51 |
4.88 |
3.72 |
4.68 |
6.05 |
| Class INV (02/28/2008) |
-4.85 |
2.34 |
4.83 |
3.69 |
4.66 |
6.04 |
| Class B (05/01/1986) |
-5.64 |
1.40 |
4.75 |
3.57 |
4.36 |
5.49 |
| Class C (09/01/1998) |
-1.72 |
5.27 |
5.66 |
3.89 |
4.35 |
5.49 |
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: 4.5% 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 1.28%, INV 1.38%, B 2.10%, C 2.11%, I 0.99%. Net Expenses: Class A 1.05%, INV 1.15%, B 1.90%, C 1.90%, I 0.40%.
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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 Barclays Capital Government Bond Index is an unmanaged index
comprised of all publicly issued, nonconvertible, domestic debt of the U.S.
government or any of its agencies, quasi-federal corporations, or corporate debt
guaranteed by the U.S. government. 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 |
| U.S. Treasury Note, 4.75%, due 8/15/17 |
4.2% |
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| FNMA, 4.50%, due 7/1/18 |
3.3% |
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| FNMA, 5.50%, due 6/1/33 |
2.6% |
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| Overseas Private Investment Corp., 5.14%, due 12/15/23 |
2.5% |
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| U.S. Treasury Bond, 8.75%, due 8/15/20 |
2.5% |
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| Federal Home Loan Bank, 5.50%, due 7/15/36 |
2.3% |
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| FNMA, 4.50%, due 6/1/23 |
2.3% |
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| General Electric Capital Corp., FDIC TLGP, 2.20%, due 6/8/12 |
2.2% |
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| FNMA, 4.50%, due 11/1/18 |
2.1% |
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| General Electric Capital Corp., 3.00%, due 12/9/11 |
1.7% |
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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 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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| |  Gary Goodenough
Mr. Goodenough joined MacKay Shields as a Managing Director and Co-head of Fixed Income in 2000, and became a Senior Managing Director in 2004. Prior to joining MacKay Shields, Mr. Goodenough was a Senior Portfolio Manager at Loomis Sayles Co. from December 1993 to May 2000. Prior to this, he was a Managing Director at Bear Stearns Company and was a Managing Director of High Yield Bonds and a Managing Director of Global Bonds at Salomon Brothers.
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| | | James Ramsay | Mr. Ramsay joined MacKay Shields in September 2008 as a Senior Managing Director and the Chief Fixed Income Strategist. He previously was Senior Managing Director and Chief Investment Officer of the US Fixed Income division of Robeco Investment Management from 2007 to 2008, a Senior Vice President at PIMCO from 2003 to 2006, a Senior Managing Director and Executive Vice President in the domestic Fixed Income division of AIG/SunAmerica from 2000 to 2002, and Senior Vice President managing the Investment Division of UNUM Provident Corporation from 1991 to 2000. Mr. Ramsay is a graduate of the University of Arkansas with a BSBA in Finance and Banking and is a CFA charterholder.
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Fund Objective
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To seek a high level of current income, consistent with safety of principal.
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Investment Strategy
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The Fund invests primarily in securities issued or guaranteed by the U.S. government and its agencies and instrumentalities. |
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To enhance the Fund's income potential, the portfolio managers invest in a wide range of U.S. government securities—from Treasury bills, notes, and bonds to higher yielding Ginnie Mae, Fannie Mae, and Freddie Mac certificates. |
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The Fund seeks a yield and stability advantage over individual investments in government securities by diversifying by maturity, coupon, and issuer. |
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Experienced professionals monitor the markets and adjust the portfolio daily, seeking current income consistent with safety of principal. |
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Fund Statistics
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Class A |
Class INV |
Class B |
Class C |
| Total Net Assets |
209.5M |
65.3M |
55.0M |
34.3M |
| Beta1 | 0.85 | 0.86 | 0.86 | 0.85 | | Standard Deviation2 | 3.88 | 3.91 | 3.88 | 3.89 | | Effective Maturity | 5.5 Yrs | | | | | Number of Holdings | 115 | | | | | Effective Duration | 3.5 Years | | | | | 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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Conservative investors seeking high current income. |
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Income investors who prefer the strength of underlying investments issued or guaranteed by the U.S. government or its agencies or instrumentalities. |
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Equity or equity-and-income investors seeking a conservative component for their portfolios. |
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Why Government Bonds?
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Many investors choose U.S. government bonds for their security, liquidity, and competitive yields.
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About Risk
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| Investments in the Fund are not guaranteed, even though some of the Fund's investments are guaranteed by the U.S. government or its agencies or instrumentalities. The Fund may invest in derivatives, which may increase the volatility of the Fund's net asset value and may result in a loss to the Fund. The Fund may experience a portfolio turnover rate of over 100% and may generate short-term capital gains which are taxable. Funds that invest in bonds are subject to interest-rate risk and can lose principal value when interest rates rise. |
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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: MGVAX |
| Class INV: MGVNX |
| Class B: MCSGX |
| Class C: MGVCX |
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| Class A: 56062F764 |
| Class INV: 56062X484 |
| Class B: 56062F509 |
| Class C: 56062F384 |
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| Class A: 644 |
| Class INV: 2544 |
| Class B: 44 |
| Class C: 194 |
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