|
| MainStay Small Company Value 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: Equity |
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) |
15.46 |
-15.08 |
-13.75 |
-2.91 |
3.29 |
8.17 |
| Class INV (02/28/2008) |
15.32 |
-15.25 |
-13.80 |
-2.95 |
3.27 |
8.16 |
| Class B (01/02/2004) |
14.97 |
-15.77 |
-14.43 |
-3.69 |
2.49 |
7.19 |
| Class C (12/30/2002) |
14.85 |
-15.85 |
-14.45 |
-3.70 |
2.50 |
7.20 |
With Sales Charges: |
| Class A (01/02/2004) |
9.11 |
-19.75 |
-15.36 |
-4.00 |
2.70 |
7.89 |
| Class INV (02/28/2008) |
8.97 |
-19.91 |
-15.41 |
-4.04 |
2.68 |
7.88 |
| Class B (01/02/2004) |
9.97 |
-19.91 |
-15.18 |
-3.95 |
2.49 |
7.19 |
| Class C (12/30/2002) |
13.85 |
-16.67 |
-14.45 |
-3.70 |
2.50 |
7.20 |
| Average Annual Total Returns as of 06/30/2009 |
| NAV: |
| Class A (01/02/2004) |
15.46 |
-15.08 |
-13.75 |
-2.91 |
3.29 |
8.17 |
| Class INV (02/28/2008) |
15.32 |
-15.25 |
-13.80 |
-2.95 |
3.27 |
8.16 |
| Class B (01/02/2004) |
14.97 |
-15.77 |
-14.43 |
-3.69 |
2.49 |
7.19 |
| Class C (12/30/2002) |
14.85 |
-15.85 |
-14.45 |
-3.70 |
2.50 |
7.20 |
With Sales Charges: |
| Class A (01/02/2004) |
9.11 |
-19.75 |
-15.36 |
-4.00 |
2.70 |
7.89 |
| Class INV (02/28/2008) |
8.97 |
-19.91 |
-15.41 |
-4.04 |
2.68 |
7.88 |
| Class B (01/02/2004) |
9.97 |
-19.91 |
-15.18 |
-3.95 |
2.49 |
7.19 |
| Class C (12/30/2002) |
13.85 |
-16.67 |
-14.45 |
-3.70 |
2.50 |
7.20 |
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.
|
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 1.61%, INV 1.65%, B 2.40%, C 2.40%, I 1.36%. Net Expenses: Class A 1.53%, INV 1.63%, B 2.38%, C 2.38%, I 1.17%.
|
| | Growth of a Hypothetical $10,000 Investment at NAV | |  | | Class I shares 01/12/1987 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 Russell
2000® Value Index is an unmanaged index that measures the
performance of those Russell 2000 companies with lower price-to-book ratios and
lower forecasted growth values. 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 |
| Impax Laboratories, Inc. |
2.4% |
|
| 3Com Corp. |
1.9% |
|
| Teradyne, Inc. |
1.9% |
|
| Vishay Intertechnology, Inc. |
1.9% |
|
| Formfactor, Inc. |
1.8% |
|
| Fidelity National Financial, Inc. |
1.7% |
|
| ADC Telecommunications, Inc. |
1.7% |
|
| Steelcase, Inc. |
1.6% |
|
| Cabot Corp. |
1.6% |
|
| Celera Corp. |
1.6% |
| |
| |
Top Sectors
| |
% of Net Assets |
| Information Technology |
21.4% |
|
| Financials |
20.9% |
|
| Industrials |
17.0% |
|
| Consumer Discretionary |
12.9% |
|
| Health Care |
8.8% |
|
| Materials |
6.3% |
|
| Energy |
5.3% |
|
| Utilities |
3.6% |
| |
| | 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 Subadvisor
|
 |
| |
| Epoch Investment Partners, Inc., is the interim subadvisor. The firm was founded in April 2004 as a Delaware corporation.
|
| |
|
Portfolio Manager(s)
|
 |
| |
|
| | | David N. Pearl, CFA | | Mr. Pearl joined Epoch in 2004. Prior to joining Epoch, Mr. Pearl was a Managing Director and Portfolio Manager at Steinberg Priest & Sloane Capital Management, LLC from 2001 to 2004, where he was responsible for both institutional and private client assets. Previously, he held a similar portfolio management position at ING Furman Selz Asset Management from 1997 to 2001, where he was responsible for $200 million of institutional and private client assets. He also founded and managed Sagacity International Ltd., a long/short hedge fund from 1997 to 2001. Prior to that, he was a Senior Portfolio Manager at Citibank Global Asset Management from 1994 to 1997. While at Citibank Global Asset Management, Mr. Pearl managed over $200 million of mutual fund and institutional accounts, and ranked in the top decile of performance versus his peer group. Prior to Citibank, Mr. Pearl was an officer and senior analyst of BEA Associates, predecessor to Credit Suisse Asset Management Americas from 1986 to 1989. Mr. Pearl received a BS in Mechanical Engineering from the University of Pennsylvania and an MBA from Stanford University Graduate School of Business.
|
| | | William W. Priest, CFA | | Mr. Priest founded Epoch Investment Partners in 2004. Previously, Mr. Priest was a Co-Managing Partner and Portfolio Manager at Steinberg Priest & Sloane Capital Management, LLC from 2001 to 2004. Prior to joining Steinberg Priest, he was a Member of the Global Executive Committee of Credit Suisse Asset Management (CSAM) from 1997 to 2001, Chairman and Chief Executive Officer of Credit Suisse Asset Management Americas from 1990 to 2001 and CEO and Portfolio Manager of its predecessor firm BEA Associates, which he co-founded in 1972. During his 30 year tenure at BEA and CSAM, Mr. Priest developed the firm into a well-recognized investment manager with over $100 billion under management. He is a CFA charterholder, CPA, and a graduate of Duke University and the University of Pennsylvania's Wharton Graduate School of Business. Mr. Priest is a Director of Globe Wireless, InfraRedX and a Member of the Council on Foreign Relations.
|
| | | Michael A. Welhoelter, CFA | | Mr. Welhoelter joined Epoch in 2005. Prior to joining Epoch, Mr. Welhoelter was a Director and Portfolio Manager in the Quantitative Strategies Group at Columbia Management Group, Inc. from 2001 to 2005. In this role, he managed over $5 billion of mutual funds and separately managed portfolios. Prior to joining Columbia Management Group, he was at Credit Suisse Asset Management Group (CSAM) from 1997 to 2001, where he was a portfolio manager in the Structured Equity Group, overseeing long/short market neutral and large cap core products. Prior to joining CSAM, he was a portfolio manager and quantitative research analyst at Chancellor/LGT Asset Management from 1986 to 1997. Mr. Welhoelter holds a BA degree in Computer and Information Science from Colgate University. He is a member of the New York Society of Security Analysts and the Society of Quantitative Analysts, is a CFA charterholder.
|
|
|
|
Fund Objective
|
 |
| |
| To seek high total return. |
| |
|
Investment Strategy
|
 |
| |
| > |
The Fund normally invests at least 80% of its assets in common and preferred stocks that, when purchased, have similar market capitalizations to those of companies in the Russell 2000® Index and the S&P SmallCap 600® Index. |
| > |
The Fund invests primarily in small-capitalization common and preferred stocks that the Fund's investment manager determines have strong or improving fundamentals and have been overlooked or underpriced relative to other stocks. |
| > |
The Fund selects equity securities on a bottom-up, stock-by-stock basis, with consideration given to low price-to-earnings, price-to-book, and price-to-sales ratios, as well as improving margins, asset turns, and cash flows. |
| > |
The Fund's investment manager avoids initial public offerings—using the manager's analytical methods, the companies' often brief history doesn't provide sufficient data to adequately evaluate operating trends. |
| > |
The Fund uses a disciplined quantitative analysis of financial operating statistics—it "visits the data, not the company." |
|
| |
Fund Statistics
| |
Class A |
Class INV |
Class B |
Class C |
| Total Net Assets |
44.6M |
17.1M |
16.3M |
11.7M |
| Beta1 | 0.98 | 0.98 | 0.98 | 0.98 | | Standard Deviation2 | 20.25 | 20.25 | 20.24 | 20.25 | | Number of Holdings | 95 | | | | | 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 seeking value opportunities from small-capitalization stocks. |
| > |
Investors who seek to benefit from financially strong but undervalued stocks that may be poised for price appreciation. |
| > |
Investors seeking to increase their portfolio's total return potential. |
|
| |
|
Why Small Cap Value?
|
 |
| |
| Undervalued companies come in all shapes and sizes. But small cap stocks may have more room to grow. |
| |
|
About Risk
|
 |
| |
| The principal risk of investing in value stocks is that the price of the security may not approach its anticipated value or may decline in value. Stocks of small companies may be subject to higher price volatility, significantly lower trading volumes, and greater spreads between bid and ask prices, than stocks of larger companies. Small companies may be more vulnerable to adverse business or market developments than mid- or large-capitalization companies. The Fund may experience a portfolio turnover rate of over 100% and may generate short-term capital gains which are taxable. The Fund's use of securities lending presents the risk of default by the borrower, which may result in a loss to the Fund.
|
|
|
| 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. |
| 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 (1/12/87) 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: MOPAX |
| Class INV: MOINX |
| Class B: MOTBX |
| Class C: MOPCX |
|
| > |
| Class A: 278846258 |
| Class INV: 27885C155 |
| Class B: 278846241 |
| Class C: 278846571 |
|
| > |
| Class A: 1526 |
| Class INV: 2568 |
| Class B: 1527 |
| Class C: 1921 |
|
| > |
| > |
| > |
| | > |
 |
|
|
 |
|
|
|
|
|
|