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| MainStay Intermediate Term Bond 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 (01/02/2004) |
2.14 |
5.80 |
5.82 |
4.42 |
4.96 |
5.81 |
| Class INV (02/28/2008) |
2.03 |
5.55 |
5.74 |
4.37 |
4.94 |
5.80 |
| Class B (01/02/2004) |
1.76 |
4.79 |
4.95 |
3.59 |
4.17 |
5.02 |
| Class C (01/02/2004) |
1.76 |
4.78 |
4.98 |
3.63 |
4.18 |
5.03 |
With Sales Charges: |
| Class A (01/02/2004) |
-2.45 |
1.04 |
4.21 |
3.47 |
4.48 |
5.55 |
| Class INV (02/28/2008) |
-2.56 |
0.80 |
4.13 |
3.41 |
4.46 |
5.54 |
| Class B (01/02/2004) |
-3.24 |
-0.21 |
4.03 |
3.24 |
4.17 |
5.02 |
| Class C (01/02/2004) |
0.76 |
3.78 |
4.98 |
3.63 |
4.18 |
5.03 |
| Average Annual Total Returns as of 06/30/2009 |
| NAV: |
| Class A (01/02/2004) |
2.14 |
5.80 |
5.82 |
4.42 |
4.96 |
5.81 |
| Class INV (02/28/2008) |
2.03 |
5.55 |
5.74 |
4.37 |
4.94 |
5.80 |
| Class B (01/02/2004) |
1.76 |
4.79 |
4.95 |
3.59 |
4.17 |
5.02 |
| Class C (01/02/2004) |
1.76 |
4.78 |
4.98 |
3.63 |
4.18 |
5.03 |
With Sales Charges: |
| Class A (01/02/2004) |
-2.45 |
1.04 |
4.21 |
3.47 |
4.48 |
5.55 |
| Class INV (02/28/2008) |
-2.56 |
0.80 |
4.13 |
3.41 |
4.46 |
5.54 |
| Class B (01/02/2004) |
-3.24 |
-0.21 |
4.03 |
3.24 |
4.17 |
5.02 |
| Class C (01/02/2004) |
0.76 |
3.78 |
4.98 |
3.63 |
4.18 |
5.03 |
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 1.16%, INV 1.34%, B 2.08%, C 2.08%, I 0.78%. Net Expenses: Class A 1.05%, INV 1.20%, B 1.95%, C 1.95%, I 0.70%.
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| | 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 Barclays Capital
Aggregate Bond Index is an unmanaged market value-weighted performance benchmark for investment-grade or better fixed-rate
debt issues, including government, corporate, asset-backed, and mortgage-backed
securities, with maturities of at least one year. 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, 4.88%, due 8/15/16 |
5.2% |
|
| FNMA, 5.00%, due 5/1/36 |
3.2% |
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| FNMA(TBA), 6.00%, due 4/1/36 |
2.5% |
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| U.S. Treasury Note, 1.88%, due 2/28/14 |
2.4% |
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| United Kingdom, 4.50%, due 3/7/19 |
2.2% |
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| FNMA, 5.00%, due 2/1/36 |
2.1% |
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| U.S. Treasury Note, 2.75%, due 2/15/19 |
2.0% |
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| FNMA, 6.00%, due 12/1/38 |
2.0% |
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| FNMA, 4.50%, due 6/1/23 |
2.0% |
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| U.S. Treasury Bond, 6.25%, due 5/15/30 |
1.7% |
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Top Sectors
| |
% of Net Assets |
| Government |
65.1% |
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| Financials |
10.8% |
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| Asset-Backed Securities |
3.3% |
|
| Energy |
3.0% |
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| Communications |
2.6% |
|
| Mortgage-Backed Securities |
2.0% |
|
| Consumer Non-Cyclical |
1.7% |
|
| Industrials |
1.4% |
|
| Consumer Cyclical |
1.1% |
|
| Utilities |
0.6% |
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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 to maximize total return, consistent with liquidity, low risk to principal, and investment in debt securities.
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Investment Strategy
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The Fund may invest in all types of debt securities, including U.S. or foreign government issues and corporate, mortgage-backed, asset-backed, municipal, and other bonds. |
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The Fund primarily invests in securities rated among the four highest grades by Moody's or Standard & Poor's, or, if unrated, determined by the subadvisor to be of comparable quality. |
| > |
The subadvisor continuously reviews yields and other fundamental and technical indicators, including economic cycle analysis, credit quality evaluations, and interest rate trends. |
| > |
To help manage risk, the Fund may seek diversification across bonds—including fixed- and floating-rate securities—of different issuers, industries, bond sectors, maturities, coupons, and credit ratings. |
| > |
Securities may be sold when economic, industry, or issuer fundamentals signal a meaningful change in the outlook for bonds. |
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Fund Statistics
| |
Class A |
Class INV |
Class B |
Class C |
| Total Net Assets |
24.5M |
1.9M |
5.6M |
14.4M |
| Beta1 | 0.94 | 0.94 | 0.93 | 0.95 | | Standard Deviation2 | 3.75 | 3.75 | 3.72 | 3.78 | | Effective Maturity | 5.5 Yrs | | | | | Number of Holdings | 324 | | | | | Effective Duration | 3.7 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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Investors who seek diversification and quality debt securities to help manage risk. |
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Income investors seeking to maximize total return, consistent with liquidity and low risk to principal. |
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Why Bonds?
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| Exposure to a wide range of bond markets may offer breadth and diversity to the income portion of your portfolio. |
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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 net asset value and may result in a loss to the Fund. 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. The Fund may experience a portfolio turnover rate of over 100% and may generate short-term capital gains which are taxable. The principal risk of mortgage dollar rolls is that the security the Fund receives at the end of the transaction may be worth less than the security the Fund sold to the same counterparty at the beginning of the transaction. 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 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. Performance for Class A, B, and C shares, first offered 1/2/04, includes the historical performance of the Fund's Class I shares from Fund inception (1/2/91) through 12/31/03 adjusted to reflect the applicable sales charge (or CDSC) and fees and expenses for such shares. |
| > Back to Top |
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| Class A: 01/02/04 |
| Class INV: 02/28/08 |
| Class B: 01/02/04 |
| Class C: 01/02/04 |
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| > |
| Class A: MTMAX |
| Class INV: MTMNX |
| Class B: MTMBX |
| Class C: MTMCX |
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| > |
| Class A: 278846373 |
| Class INV: 27885C270 |
| Class B: 278846365 |
| Class C: 278846357 |
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| Class A: 1553 |
| Class INV: 2550 |
| Class B: 1554 |
| Class C: 1555 |
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