What are the investment minimums for MainStay Funds?
To open an account for A, B, and C classes for all MainStay Funds, the minimum investment is $1,000 and $50 for subsequent purchases. If investing through AutoInvest, a monthly systematic plan, the minimum initial investment is $500 and $50 for subsequent investments OR no initial investment and $100 for subsequent investments with the exception of the MainStay Money Market Fund which requires an initial investment of $1,000. To open an account for class I, the minimum investment for individual investors is $5 million for initial purchases with no subsequent purchase account and there are no minimum initial or subsequent purchase amounts for institutional investors.
All MainStay Funds are offered in share classes A, B, C, and I with several exceptions. MainStay Small Cap Growth Fund, MainStay Global High Income Fund, MainStay Convertible Fund, MainStay Money Market Fund, and MainStay Tax Free Bond Fund are offered in share classes A, B, and C. MainStay S&P 500 Index Fund, MainStay Indexed Bond Fund, and MainStay Short Term Bond Fund are available in share classes A and I. MainStay Cash Reserves is available in share class I only. These classes differ only in their sales, service, and/or distribution expenses, and other specific expenses the Board of Trustees may approve. For more information, visit our Fund Center.
Who backs the guarantee on MainStay Equity Index Fund?
The guarantee is backed solely by NYLIFE LLC. NYLIFE LLC is a wholly owned subsidiary of New York Life Insurance Company. Neither the Fund nor any entity other than NYLIFE LLC is obligated under the terms of the guarantee.
What is the "reverse share split" that occurs at the end of the year on MainStay Equity Index Fund?
The reverse share split is an annual adjustment to keep the number of shares constant within the account to simplify tracking the guarantee. In a normal mutual fund distribution, the NAV will drop by the amount of the distribution, but will be reinvested to purchase more shares at the lower NAV. The account balance does not change, but the investor owns more shares that are worth less. In MainStay Equity Index Fund, the reverse share split brings the number of shares and the share value to where they were before the distribution. Either way, the account is worth the same dollar amount.
How can I get information about my account activity and Fund performance?
Log in to your account to purchase additional shares and exchange shares, obtain duplicate statements, and view transactions, 24 hours a day
You can also call 800-MAINSTAY (624-6782) and get automated account information, speak to a customer service representative, and obtain fund performance data
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