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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 04/30/2008 |
| NAV: |
| Class A (01/02/2004) |
1.59 |
5.15 |
4.08 |
3.61 |
4.79 |
5.91 |
| Class INV (02/28/2008) |
1.62 |
5.17 |
4.09 |
3.61 |
4.79 |
5.91 |
| Class B (01/02/2004) |
1.34 |
4.36 |
3.30 |
2.86 |
4.02 |
5.13 |
| Class C (01/02/2004) |
1.34 |
4.46 |
3.34 |
2.88 |
4.03 |
5.13 |
With Sales Charges: |
| Class A (01/02/2004) |
-2.98 |
0.41 |
2.50 |
2.66 |
4.31 |
5.63 |
| Class INV (02/28/2008) |
-2.95 |
0.44 |
2.51 |
2.66 |
4.31 |
5.63 |
| Class B (01/02/2004) |
-3.66 |
-0.64 |
2.36 |
2.50 |
4.02 |
5.13 |
| Class C (01/02/2004) |
0.34 |
3.46 |
3.34 |
2.88 |
4.03 |
5.13 |
| Average Annual Total Returns as of 03/31/2008 |
| NAV: |
| Class A (01/02/2004) |
2.16 |
6.24 |
4.65 |
3.89 |
4.88 |
5.97 |
| Class INV (02/28/2008) |
2.21 |
6.29 |
4.66 |
3.90 |
4.89 |
5.97 |
| Class B (01/02/2004) |
1.98 |
5.46 |
3.87 |
3.14 |
4.11 |
5.19 |
| Class C (01/02/2004) |
1.98 |
5.46 |
3.90 |
3.16 |
4.12 |
5.20 |
With Sales Charges: |
| Class A (01/02/2004) |
-2.44 |
1.46 |
3.05 |
2.93 |
4.40 |
5.69 |
| Class INV (02/28/2008) |
-2.39 |
1.50 |
3.07 |
2.94 |
4.40 |
5.69 |
| Class B (01/02/2004) |
-3.02 |
0.46 |
2.93 |
2.78 |
4.11 |
5.19 |
| Class C (01/02/2004) |
0.98 |
4.46 |
3.90 |
3.16 |
4.12 |
5.20 |
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. Performance data shown at NAV does not reflect the deduction of the sales load, which, if reflected, would reduce the performance quoted.
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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, generally available to corporate & institutional investors with a minimum initial investment of $5 million. Gross Expenses: Class A 1.19%, INV 1.38%, B 2.13%, C 2.13%, I 0.74%
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| | Growth of a Hypothetical $10,000 Investment at NAV | |  | | Class I shares 01/02/1991 to 03/31/2008. 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 Lehman
Brothers® (LB) 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) | |
Top Holdings
| |
% of Net Assets |
| U.S. Treasury Note, 4.75%, due 8/15/17 |
6.5% |
|
| U.S. Treasury Note, 4.88%, due 8/15/16 |
4.1% |
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| U.S. Treasury Note, 3.88%, due 9/15/10 |
3.3% |
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| U.S. Treasury Note, 4.88%, due 7/31/11 |
3.3% |
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| U.S. Treasury Note, 4.75%, due 5/31/12 |
3.2% |
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| U.S. Treasury Note, 4.25%, due 11/15/14 |
3.0% |
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| FNMA, 5.00%, due 5/1/36 |
2.7% |
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| U.S. Treasury Note, 4.13%, due 8/31/12 |
2.6% |
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| FNMA, 5.50%, due 6/1/21 |
2.1% |
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| U.S. Treasury Note, 4.50%, due 2/15/09 |
2.1% |
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Top Sectors
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% of Net Assets |
| Government |
73.4% |
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| Financials |
4.7% |
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| Asset-Backed Securities |
3.4% |
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| Communications |
2.4% |
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| Consumer Non-Cyclical |
2.2% |
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| Mortgage-Backed Securities |
2.2% |
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| Energy |
2.1% |
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| Consumer Cyclical |
1.9% |
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| Industrials |
1.6% |
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| Utilities |
1.2% |
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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 $246 billion in assets under management as of March 31, 2008. 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 became a manager of the Government Fund and the Total Return Fund in 2000, the Global High Income Fund in 2003, the Money Market Fund in 2006 and the Diversified Income Fund in 2008. 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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| |  Joseph Portera
Mr. Portera has managed MainStay Diversified Income and Global High Income Funds since inception and MainStay Government Fund since July 2000. Mr. Portera also manages the MainStay Total Return Fund and Intermediate Term Bond Fund. Mr. Portera is a Managing Director of MacKay Shields, specializing in international investing. He returned to MacKay Shields in December 1996 after working at Fiduciary Trust Company International as a Portfolio Manager in international bonds. Mr. Portera originally joined MacKay Shields in 1991.
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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. |
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The subadvisor continuously reviews yields and other fundamental and technical indicators, including economic cycle analysis, credit quality evaluations, and interest rate trends. |
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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
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Class A |
Class INV |
Class B |
Class C |
| Total Net Assets |
14.0M |
1.5M |
4.5M |
6.0M |
| Beta1 | 0.92 | 0.92 | 0.93 | 0.93 | | Standard Deviation2 | 3.59 | 3.59 | 3.58 | 3.59 | | Effective Maturity | 6.7 Yrs | | | | | Number of Holdings | 345 | | | | | Effective Duration | 4.4 Years | | | | | Purchases | $1,000 minimum initial investment,
$50 subsequent | |
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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. |
| | 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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What You Should Know
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| Before You Invest | | 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. |
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| 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.
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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.
Class A and R2 shares have an annual 12b-1 fee of .25%. Class B and C shares have an annual 12b-1 fee of 1.00%. Class I and R1 shares have no annual 12b-1 fee.
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| 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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