|
| MainStay Income Manager Fund |
 |
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:
Blended |
YTD % |
1 Year % |
3 Year % |
5 Year % |
10 Year % |
Since Incep. % |
| Average Annual Total Returns as of 06/30/2009 |
| NAV: |
| Class A (01/02/2004) |
2.26 |
-17.02 |
-4.45 |
0.05 |
0.71 |
6.88 |
| Class INV (02/28/2008) |
2.20 |
-17.10 |
-4.46 |
0.04 |
0.70 |
6.87 |
| Class B (01/02/2004) |
1.85 |
-17.78 |
-5.23 |
-0.72 |
-0.03 |
6.12 |
| Class C (12/30/2002) |
1.85 |
-17.71 |
-5.20 |
-0.70 |
-0.04 |
6.10 |
With Sales Charges: |
| Class A (01/02/2004) |
-3.36 |
-21.59 |
-6.23 |
-1.07 |
0.14 |
6.55 |
| Class INV (02/28/2008) |
-3.42 |
-21.66 |
-6.25 |
-1.08 |
0.14 |
6.55 |
| Class B (01/02/2004) |
-3.10 |
-21.73 |
-6.02 |
-1.04 |
-0.03 |
6.12 |
| Class C (12/30/2002) |
0.86 |
-18.50 |
-5.20 |
-0.70 |
-0.04 |
6.10 |
| Average Annual Total Returns as of 06/30/2009 |
| NAV: |
| Class A (01/02/2004) |
2.26 |
-17.02 |
-4.45 |
0.05 |
0.71 |
6.88 |
| Class INV (02/28/2008) |
2.20 |
-17.10 |
-4.46 |
0.04 |
0.70 |
6.87 |
| Class B (01/02/2004) |
1.85 |
-17.78 |
-5.23 |
-0.72 |
-0.03 |
6.12 |
| Class C (12/30/2002) |
1.85 |
-17.71 |
-5.20 |
-0.70 |
-0.04 |
6.10 |
With Sales Charges: |
| Class A (01/02/2004) |
-3.36 |
-21.59 |
-6.23 |
-1.07 |
0.14 |
6.55 |
| Class INV (02/28/2008) |
-3.42 |
-21.66 |
-6.25 |
-1.08 |
0.14 |
6.55 |
| Class B (01/02/2004) |
-3.10 |
-21.73 |
-6.02 |
-1.04 |
-0.03 |
6.12 |
| Class C (12/30/2002) |
0.86 |
-18.50 |
-5.20 |
-0.70 |
-0.04 |
6.10 |
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 1.29%, INV 1.50%, B 2.16%, C 2.15%, I 0.97%. Net Expenses: Class A 0.99%, INV 1.09%, B 1.84%, C 1.84%, I 0.90%.
|
| | Growth of a Hypothetical $10,000 Investment at NAV | |  | | Class I shares 01/02/1991 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, B, and C shares will differ
based on differences in their sales charges and expense structures. The Asset
Manager Composite Index is comprised of the S&P 500® Index, the
Citigroup Broad Investment Grade Bond Index, and the Citigroup 1-Month T-Bill
Index weighted 60%/30%/10%, respectively. 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. The Citigroup Broad Investment Grade Bond Index—the "BIG Index"—is
generally considered representative of the U.S. investment-grade bond market.
The Citigroup 1-Month T-Bill Index is an average of the last one-month Treasury
bill issues. Index 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 |
| ExxonMobil Corp. |
1.9% |
|
| Chevron Corp. |
1.7% |
|
| AT&T, Inc. |
1.7% |
|
| General Electric Co. |
1.6% |
|
| Pfizer Inc. |
1.5% |
|
| Verizon Communications Inc. |
1.4% |
|
| International Business Machines Corp. |
1.4% |
|
| Bristol-Myers Squibb Co. |
1.3% |
|
| U.S. Treasury Note, 1.88%, due 2/28/14 |
1.1% |
|
| E.I. du Pont de Nemours & Co. |
1.0% |
| |
| |
Top Sectors
| |
% of Net Assets |
| Government |
15.5% |
|
| Consumer Non-Cyclical |
14.8% |
|
| Communications |
10.6% |
|
| Financials |
9.9% |
|
| Utilities |
8.6% |
|
| Industrials |
7.4% |
|
| Energy |
7.0% |
|
| Mortgage-Backed Securities |
5.6% |
|
| Consumer Cyclical |
5.3% |
|
| Basic Materials |
4.6% |
| |
| | Portfolio Composition
|
|
|
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 Subadvisors
|
|
| |
The Investment Advisor has delegated its portfolio management responsibilities for this Fund to its Investment Subadvisors, Madison Square Investors and Fixed Income Investors. Madison Square Investors offers quantitative investment solutions to a wide range of individual, corporate, public, endowment and foundation, and Taft-Hartley clients. Fixed Income Investors, a division of New York Life Investment Management LLC, is a multiproduct asset manager responsible for fixed-income and real estate equity capital markets activities.
|
| |
|
Portfolio Manager(s)
|
|
| |
|
| |  Tony H. Elavia, Ph.D.
Mr. Elavia is a Senior Managing Director at New York Life Investments and is also Chief Executive Officer and Chief Investment Officer of Madison Square Investors. Prior to joining New York Life Investments in 2004, Mr. Elavia spent five years as a Managing Director and Senior Portfolio Manager of the Large Cap Growth team of Putnam Investments in Boston, Massachusetts. Mr. Elavia holds a PhD and MA in Economics from the University of Houston and a MS and BC from the University of Baroda in Vadodara, India.
|
| | Jonathan Swaney
Mr. Swaney is responsible both for managing quantitative equity portfolios and performing research at Madison Square Investors and has been an employee of the firm since 1997. He is also the Portfolio Manager for the MainStay Retirement Funds, Asset Allocation Funds, and Income Manager Fund. Within the firm, Mr. Swaney has previously worked with the Investment Consulting Group and was a Portfolio Manager with the Quantitative Strategies unit. Prior to joining Madison Square Investors, Mr. Swaney performed manager research for fund-of-hedge-funds operator Pine Grove Partners and worked on the fixed income desk at The Vanguard Group. Mr. Swaney earned his B.A. in Political Science from The College of William & Mary.
|
| | 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.
|
| | | Harish Kumar, Ph.D., CFA | | Dr. Kumar is a Managing Director and Head of Growth Portfolios at Madison Square Investors. Prior to joining the firm in 2005, Dr. Kumar served as a Senior Portfolio Manager at ING Investment Management since 2002. He received his Ph.D. from Columbia University, his master's degree from the University of Colorado-Boulder, and graduated with honors from Birla Institute of Technology and Science in Pilani, India, receiving a bachelor's degree in mechanical engineering. Dr. Kumar is a CFA charterholder, and has 8 years of investment experience.
|
|
|
|
Fund Objective
|
|
| |
| To seek to maximize total return, consistent with certain percentage constraints on amounts allocated to each asset class, from a combination of common stocks, fixed income securities, and money market investments. |
| |
|
Investment Strategy
|
|
| |
| > |
The Fund will generally invest at least 80% of its assets in income-producing securities subject to the following constraints:
- Equity Securities—Up to 65% of the Fund’s net assets will be invested in equity securities and related derivatives, such as dividend paying common and preferred stocks.
- At least 30% of the Fund’s net assets will be invested in U.S. equity securities, including investments in REITs.
- Fixed Income Securities—At least 35% of the Fund’s net assets will be invested in fixed income securities, including cash and cash equivalents and related derivatives. These securities will consist of both investment grade and high yield fixed income securities, including:
- Up to 25% of total assets, at the time of purchase, in high yield securities; and
- Up to 15% of total assets, at the time of purchase, in a combination of emerging market debt and floating rate loans.
- The Fund may also invest in other fixed-income securities without restriction, including government, corporate, asset-backed and mortgage-backed securities.
- The Fund does not have a minimum required allocation to money market instruments and will not normally invest more than 10% in these instruments.
|
| > |
In pursuing the Fund’s investment objective, the Fund may also invest up to 20% of its total assets, at the time of purchase, in foreign securities of developed or emerging markets, or in futures associated with such securities. |
|
| |
Fund Statistics
| |
Class A |
Class INV |
Class B |
Class C |
| Total Net Assets |
31.1M |
13.1M |
14.4M |
6.8M |
| Beta1 | 1.08 | 1.08 | 1.08 | 1.08 | | Standard Deviation2 | 9.68 | 9.68 | 9.68 | 9.71 | | Average Maturity | 5.5 Yrs | | | | | Number of Holdings | 767 | | | | | Average Duration | 3.8 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. | |
|
Investor Profile
|
|
| |
| > |
Investors who seek diversification by country, market capitalization, and type of security to help manage risk. |
| > |
Investors who seek exposure to investment grade bonds, money market instruments, and domestic and foreign stocks. |
|
| |
|
Why Asset Allocation?
|
|
| |
| Professional asset allocation is a sound way to enjoy broad market exposure and diversification to help manage risk. |
| |
|
About Risk
|
|
| |
| 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. These risks are likely to be greater for emerging markets than in developed markets. High-yield securities ("junk bonds") are generally considered speculative because they present a greater risk of loss than higher-quality debt securities; these securities may also be subject to greater price volatility. Floating rate funds are generally considered to have speculative characteristics that involve default risk of principal and interest, collateral impairment, nondiversification, borrower industry concentration, and limited liquidity. 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. Investment in REITs carries with it many of the risks associated with direct ownership of real estate, including decline in property values, extended vacancies, increases in property taxes, and changes in interest rates. Funds that invest in bonds are subject to interest-rate risk and can lose principal value when interest rates rise. |
| |
|
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. |
Effective January 2, 2006, MainStay Asset Manager Fund was renamed MainStay Income Manager Fund.
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. Prior to 1/1/04, the Fund offered Class L shares, which were subject to a 1% sales charge and a 1% CDSC on redemptions within one year of purchase. Performance for Class L shares, first offered 12/30/02, includes the historical performance of the Class I shares from inception (1/2/91) through 12/29/02, adjusted to reflect the applicable sales charge and CDSC and the applicable fees and expenses. Effective 1/1/04, all outstanding Class L shares of the Fund were converted and/or redesignated Class C shares. Performance for Class A and B shares, first offered 1/2/04, includes the historical performance of the Fund's Class I shares from Fund inception through 12/31/03 adjusted to reflect the applicable sales charge (or CDSC) and fees and expenses for such shares.
|
| > Back to Top |
|
 |
|
|
|
| > |
| Class A: 01/02/04 |
| Class INV: 02/28/08 |
| Class B: 01/02/04 |
| Class C: 12/30/02 |
|
| > |
| Class A: MATAX |
| Class INV: MIMNX |
| Class B: MAMBX |
| Class C: MAMCX |
|
| > |
| Class A: 278846456 |
| Class INV: 27885C296 |
| Class B: 278846449 |
| Class C: 278846530 |
|
| > |
| Class A: 1521 |
| Class INV: 2548 |
| Class B: 1522 |
| Class C: 1924 |
|
| > |
| > |
| > |
| | > |
 |
|
|
 |
|
|
|
|
|
|
_20.gif){kind=small}
