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| MainStay Indexed 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) |
2.02 |
6.73 |
4.31 |
3.67 |
5.16 |
6.22 |
| Class INV (02/28/2008) |
2.00 |
6.70 |
4.30 |
3.66 |
5.16 |
6.22 |
With Sales Charges: |
| Class A (01/02/2004) |
-1.04 |
3.52 |
3.26 |
3.04 |
4.84 |
6.03 |
| Class INV (02/28/2008) |
-1.06 |
3.50 |
3.25 |
3.03 |
4.84 |
6.03 |
| Average Annual Total Returns as of 03/31/2008 |
| NAV: |
| Class A (01/02/2004) |
2.49 |
7.81 |
4.92 |
3.91 |
5.26 |
6.28 |
| Class INV (02/28/2008) |
2.48 |
7.80 |
4.92 |
3.91 |
5.26 |
6.27 |
With Sales Charges: |
| Class A (01/02/2004) |
-0.59 |
4.58 |
3.86 |
3.28 |
4.94 |
6.09 |
| Class INV (02/28/2008) |
-0.60 |
4.57 |
3.86 |
3.28 |
4.94 |
6.09 |
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: 3% maximum initial sales charge. 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 0.85%, INV 1.45%, I 0.53%
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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 shares will differ based on differences in
sales charges and expense structure. The Citigroup Broad Investment Grade Bond
Index—the "BIG Index"—is generally considered representative of the U.S.
investment-grade bond market. 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, 4.25%, due 10/15/10 |
4.4% |
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| U.S. Treasury Note, 3.50%, due 2/15/18 |
3.8% |
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| U.S. Treasury Note, 4.75%, due 5/31/12 |
2.6% |
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| FHLMC, 5.50%, due 4/1/37 |
2.4% |
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| FHLMC, 4.00%, due 12/15/09 |
2.2% |
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| FNMA, 1.65% due 4/01/08 |
2.1% |
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| FNMA, 1.65%, due 4/1/08 |
2.1% |
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| FHLMC, 5.00%, due 6/1/37 |
1.8% |
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| FHLMC, 4.50%, due 4/1/20 |
1.7% |
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| U.S. Treasury Note, 4.63%, due 7/31/12 |
1.7% |
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| FHLMC, 5.00%, due 8/1/35 |
1.6% |
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Top Sectors
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% of Net Assets |
| Government |
77.7% |
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| Financials |
9.0% |
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| Communications |
2.9% |
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| Consumer Non-Cyclical |
2.5% |
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| Utilities |
2.1% |
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| Industrials |
1.6% |
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| Energy |
1.4% |
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| Consumer Cyclical |
1.3% |
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| Basic Materials |
0.8% |
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| Asset-Backed Securities |
0.4% |
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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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Portfolio Manager(s)
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| | | Donald F. Serek | | Mr. Serek became manager of MainStay Indexed Bond Fund on October 15, 2004. He joined NYLIM as a corporate bond specialist. Prior to that, he was a Senior Analyst at Citicorp Securities, where he analyzed global power, sovereign, supranational, telecommunications and media issuers for five years. He has also held positions in Citibank's Corporate Financial Analysis and International Banking and Finance Groups. Mr. Serek received his B.B.A. in Finance and Economics from Temple University in 1990.
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| | Thomas J. Girard
Mr. Girard serves as portfolio manager of the Income Manager Fund and the Indexed Bond Fund. 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 NYLIM in 2007 and is responsible for managing all multi-sector third-party fixed income mandates. Prior to joining NYLIM, 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. Prior to that, Mr. Girard was a portfolio manager at Bankers Trust where he managed money market, assetbacked and corporate bond portfolios. He received a B.S. from St. John Fisher College and an M.B.A. from Fordham University. Mr. Girard is a Certified Public Accountant.
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Fund Objective
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To seek to provide investment results that correspond to the total return performance of fixed-income securities in the aggregate, as represented by the Citigroup BIG Index.
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Investment Strategy
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The Fund normally invests at least 80% of its assets in fixed income securities that NYLIM believes will replicate the performance of the BIG Index. The BIG Index includes investment grade corporate bonds, U.S. dollar-denominated foreign securities, U.S. Treasury or agency issues, mortgage-related securities, and other securities. Corporate bonds and foreign securities must be rated BBB– or better by S&P or Baa3 or better by Moody's Investor Service, Inc. |
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The Fund may adjust holdings periodically to reflect changes in the Index and the average life of the securities it contains. |
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The Fund's principal investments may have fixed, variable, floating, or inverse floating rates of interest. |
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Fund Statistics
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Class A |
Class INV |
| Total Net Assets |
64.4M |
2.1M |
| Beta1 | 1.01 | 1.01 | | Standard Deviation2 | 3.67 | 3.67 | | Effective Weighted Average Life | 6.7 Yrs | | | Number of Holdings | 1029 | | | Effective Duration | 4.6 Years | | | Purchases | $1,000 minimum initial investment, $50 subsequent | |
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Investor Profile
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Investors seeking total returns that are similar to the investment-grade bond market as a whole. |
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Equity investors seeking a broad-based income component for their portfolios. |
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Why Indexed Bond?
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| Tracking the investment-grade bond market may be a sound way to pursue income and enjoy broad exposure to quality fixed-income securities. |
| | 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 | 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 shares, first offered 1/2/04, includes the historical performance of the Fund's Class I shares from inception (1/2/91) through 12/31/03 adjusted to reflect the applicable sales charge and fees and expenses for such shares.
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| > Back to Top |
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| Class A: 01/02/04 |
| Class INV: 02/28/08 |
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| Class A: MIXAX |
| Class INV: MIXNX |
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| Class A: 278846381 |
| Class INV: 27885C288 |
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| Class A: 1550 |
| Class INV: 2549 |
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