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| MainStay Money Market 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. |
| 7-day Yields as of 07/02/2009
| Share Class |
Symbol |
Current
7-day Yield |
| MainStay Money Market Fund |
| Class A |
MMAXX | 0.03% |
| Class INV |
MKTXX | 0.03% |
| Class B |
MKMXX | 0.03% |
| Class C |
MSCXX | 0.03% | | | | The 7-day current yield is more reflective of the Fund's current earnings than the total return quotation.
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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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, Fixed Income Investors. They are a division of New York Life Investment Management LLC and a multiproduct asset manager responsible for fixed-income and real estate equity capital markets activities.
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Portfolio Manager(s)
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| | | David E. Clement, CFA | | Mr. Clement is a member of the fixed income portfolio management team at New York Life, which is now part of New York Life Investments. Mr. Clement joined the Asset Management Group of New York Life in 1990 and has been a Chartered Financial Analyst since 1993.
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| | Thomas J. Girard
Mr. Girard is a Senior Portfolio Manager, Head of the Portfolio Management and Strategy Group and chairs the Portfolio Strategy and Asset Allocation Committee. He joined New York Life Investments in 2007 and is responsible for managing all multi-sector third-party fixed income mandates. Prior to joining New York Life Investments, Mr. Girard was a Portfolio Manager and co-head of fixed income at Robeco Investment Management/Weiss Peck Greer where he developed specific investment strategies for institutional clients, including insurance companies and corporate pension plans from 1996 to 2006. Prior to that, Mr. Girard was a Portfolio Manager at Bankers Trust from 1994 to 1996 where he managed money market, asset-backed and corporate bond portfolios. He received a BS from St. John Fisher College and an MBA from Fordham University. Mr. Girard is a Certified Public Accountant.
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Investment Strategy
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The Fund invests in short-term dollar-denominated securities maturing in 13 months or less, and the Fund's weighted average portfolio maturity will not exceed 90 days. |
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To diversify the portfolio and pursue competitive yields, the Fund many invest in a wide range of money market instruments, including U.S. government securities, bank obligations, commercial paper, and other short-term loans and obligations. |
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The portfolio managers closely monitor the economy, the markets, and individual issuers to maintain high-credit quality and manage portfolio risk. |
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Fund Statistics
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Class A |
Class INV |
Class B |
Class C |
| Total Net Assets |
337.6M |
75.8M |
172.5M |
44.5M |
| Average Maturity | 72.0 Days | | | | | Number of Holdings | 96 | | | | | Average Duration | 72.0 Years | | | | | Purchases | $1,000 minimum initial investment, $50 subsequent | |
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Investor Profile
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Investors seeking competitive yields on ready cash or money they plan to invest elsewhere. |
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Investors who seek a place to keep emergency funds while maintaining liquidity. |
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Investors who are averse to the risk that may be associated with other types of investments. |
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About Risk
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| Foreign securities may be subject to greater risks than U.S. investments, including currency fluctuations, less liquid trading markets, greater price volatility, political and economic instability, less publicly available information, and changes in tax or currency laws or monetary policy. The Fund may invest in derivatives, which may increase the volatility of the Fund's NAV and may result in a loss to the Fund. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund.
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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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| From time to time, New York Life Investment Management LLC, the Funds' Manager ("Manager") may limit expenses of MainStay Money Market Fund (the "Fund") to the extent it deems appropriate to enhance the yield of the Fund, or a particular class of the Fund, during periods when expenses have a significant impact on the yield of the Fund, or a particular class of the Fund, as applicable, because of low interest rates. The current yield is based on the latest 7-day period ending 07/02/2009. This expense limitation policy is voluntary and in addition to any contractual arrangements that may be in place with respect to the Fund and described in the Fund’s prospectus. It may be revised or terminated by the Manager at any time without notice.
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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: MMAXX |
| Class INV: MKTXX |
| Class B: MKMXX |
| Class C: MSCXX |
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| Class A: 56062F723 |
| Class INV: 56062X419 |
| Class B: 56062F608 |
| Class C: 56062F236 |
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| Class A: 648 |
| Class INV: 2559 |
| Class B: 48 |
| Class C: 849 |
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