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| MainStay Small Cap Opportunity 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:
Equity |
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) |
-8.41 |
-26.16 |
-0.38 |
11.21 |
5.29 |
9.80 |
| Class INV (02/28/2008) |
-8.34 |
-26.10 |
-0.35 |
11.22 |
5.29 |
9.80 |
| Class B (01/02/2004) |
-8.66 |
-26.75 |
-1.14 |
10.33 |
4.46 |
8.80 |
| Class C (12/30/2002) |
-8.59 |
-26.70 |
-1.12 |
10.37 |
4.48 |
8.82 |
With Sales Charges: |
| Class A (01/02/2004) |
-13.44 |
-30.22 |
-2.24 |
9.95 |
4.69 |
9.51 |
| Class INV (02/28/2008) |
-13.38 |
-30.17 |
-2.21 |
9.97 |
4.70 |
9.51 |
| Class B (01/02/2004) |
-13.23 |
-29.97 |
-1.94 |
10.06 |
4.46 |
8.80 |
| Class C (12/30/2002) |
-9.50 |
-27.34 |
-1.12 |
10.37 |
4.48 |
8.82 |
| Average Annual Total Returns as of 03/31/2008 |
| NAV: |
| Class A (01/02/2004) |
-10.42 |
-26.70 |
-2.94 |
12.32 |
5.12 |
9.72 |
| Class INV (02/28/2008) |
-10.36 |
-26.65 |
-2.91 |
12.34 |
5.13 |
9.73 |
| Class B (01/02/2004) |
-10.61 |
-27.24 |
-3.68 |
11.45 |
4.30 |
8.73 |
| Class C (12/30/2002) |
-10.54 |
-27.22 |
-3.66 |
11.49 |
4.31 |
8.74 |
With Sales Charges: |
| Class A (01/02/2004) |
-15.35 |
-30.73 |
-4.75 |
11.06 |
4.53 |
9.43 |
| Class INV (02/28/2008) |
-15.29 |
-30.68 |
-4.73 |
11.07 |
4.54 |
9.44 |
| Class B (01/02/2004) |
-15.08 |
-30.44 |
-4.46 |
11.19 |
4.30 |
8.73 |
| Class C (12/30/2002) |
-11.44 |
-27.86 |
-3.66 |
11.49 |
4.31 |
8.74 |
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: 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, generally available to corporate & institutional investors with a minimum initial investment of $5 million. Gross Expenses: Class A 1.63%, INV 1.92%, B 2.56%, C 2.56%, I 1.35%
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| | Growth of a Hypothetical $10,000 Investment at NAV | |  | | Class I shares 01/12/1987 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 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) | |
Top Holdings
| |
% of Net Assets |
| CF Industries Holdings, Inc. |
1.5% |
|
| Aspen Insurance Holdings, Ltd. |
1.1% |
|
| Westar Energy, Inc. |
1.1% |
|
| Phoenix Companies, Inc. |
1.0% |
|
| Susquehanna Bancshares, Inc. |
1.0% |
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| Platinum Underwriters Holdings, Ltd. |
1.0% |
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| Potlatch Corp. REIT |
1.0% |
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| National Retail Properties, Inc. REIT |
1.0% |
|
| Cal-Maine Foods, Inc. |
0.9% |
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| Ceradyne, Inc. |
0.9% |
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Top Sectors
| |
% of Net Assets |
| Financials |
29.7% |
|
| Industrials |
12.7% |
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| Information Technology |
10.7% |
|
| Consumer Discretionary |
10.1% |
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| Health Care |
7.1% |
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| Materials |
6.4% |
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| Energy |
5.8% |
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| Utilities |
5.1% |
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| Consumer Staples |
5.0% |
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| Telecommunication Services |
1.8% |
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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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| |  Daniel O. Glickman
Mr. Glickman has managed the Mid Cap Opportunity and Small Cap Opportunity Funds since November 2006, and has been a Managing Director of NYLIM since September 2006. Prior to joining NYLIM, he had been a portfolio manager at TIAA-CREF since 2001. Prior to joining TIAA-CREF, he was a senior researcher at State Street Global Advisors. Mr. Glickman received his M.B.A. from the University of Chicago, Graduate School of Business, his M.S. from Columbia University's School of Engineering and his B.S. from Massachusetts Institute of Technology.
|
| | Victor G. Samoilovich
Mr. Samoilovich has managed the Mid Cap Opportunity and Small Cap Opportunity Funds since November 2006, and has been a Managing Director of NYLIM since September 2006. Prior to joining NYLIM, he had been a portfolio manager at TIAA-CREF since 2000. Mr. Samoilovich is a graduate of Moscow State University in Russia.
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Fund Objective
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| To seek high total return. |
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Investment Strategy
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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. |
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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. |
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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. |
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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. |
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The Fund uses a disciplined quantitative analysis of financial operating statistics—it "visits the data, not the company." |
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Fund Statistics
| |
Class A |
Class INV |
Class B |
Class C |
| Total Net Assets |
145.0M |
14.9M |
20.7M |
28.3M |
| Beta1 | 1.03 | 1.03 | 1.03 | 1.03 | | Standard Deviation2 | 14.94 | 14.94 | 14.92 | 14.93 | | Number of Holdings | 391 | | | | | Purchases | $1,000 minimum initial investment,
$50 subsequent | |
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Investor Profile
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| > |
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. |
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Investors seeking to increase their portfolio's total return potential. |
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Why Small Cap Value?
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| Undervalued companies come in all shapes and sizes. But small cap stocks may have more room to grow. |
| | 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 | Stock 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. 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.
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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. 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.
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| > Back to Top |
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| Class A: 01/02/04 |
| Class INV: 02/28/08 |
| Class B: 01/02/04 |
| Class C: 12/30/02 |
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| > |
| Class A: MOPAX |
| Class INV: MOINX |
| Class B: MOTBX |
| Class C: MOPCX |
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| > |
| Class A: 278846258 |
| Class INV: 27885C155 |
| Class B: 278846241 |
| Class C: 278846571 |
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| > |
| Class A: 1526 |
| Class INV: 2568 |
| Class B: 1527 |
| Class C: 1921 |
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