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| MainStay Floating Rate 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 (05/03/2004) |
-1.36 |
-1.88 |
2.92 |
n/a |
n/a |
3.07 |
| Class INV (02/28/2008) |
-1.36 |
-1.88 |
2.92 |
n/a |
n/a |
3.07 |
| Class B (05/03/2004) |
-1.61 |
-2.62 |
2.19 |
n/a |
n/a |
2.33 |
| Class C (05/03/2004) |
-1.61 |
-2.51 |
2.19 |
n/a |
n/a |
2.33 |
With Sales Charges: |
| Class A (05/03/2004) |
-4.32 |
-4.82 |
1.88 |
n/a |
n/a |
2.29 |
| Class INV (02/28/2008) |
-4.32 |
-4.83 |
1.88 |
n/a |
n/a |
2.29 |
| Class B (05/03/2004) |
-4.51 |
-5.39 |
1.60 |
n/a |
n/a |
2.12 |
| Class C (05/03/2004) |
-2.58 |
-3.44 |
2.19 |
n/a |
n/a |
2.33 |
| Average Annual Total Returns as of 03/31/2008 |
| NAV: |
| Class A (05/03/2004) |
-4.27 |
-4.28 |
1.88 |
n/a |
n/a |
2.35 |
| Class INV (02/28/2008) |
-4.26 |
-4.27 |
1.88 |
n/a |
n/a |
2.35 |
| Class B (05/03/2004) |
-4.45 |
-4.99 |
1.16 |
n/a |
n/a |
1.62 |
| Class C (05/03/2004) |
-4.55 |
-5.09 |
1.12 |
n/a |
n/a |
1.59 |
With Sales Charges: |
| Class A (05/03/2004) |
-7.14 |
-7.15 |
0.85 |
n/a |
n/a |
1.56 |
| Class INV (02/28/2008) |
-7.13 |
-7.15 |
0.85 |
n/a |
n/a |
1.56 |
| Class B (05/03/2004) |
-7.27 |
-7.69 |
0.57 |
n/a |
n/a |
1.40 |
| Class C (05/03/2004) |
-5.49 |
-5.99 |
1.12 |
n/a |
n/a |
1.59 |
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 B: 3%-2%-2%-1% CDSC. 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. A redemption fee of 2% will be applied to shares that are redeemed within 60 days of their purchase. Gross Expenses: Class A 0.98%, INV 1.07%, B 1.79%, C 1.79%, I 0.67%
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| | Growth of a Hypothetical $10,000 Investment at NAV | |  | | Class A shares 05/03/2004 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 B and C shares will differ based
on differences in their sales charges and expense structures. |
| > View total monthly holdings (30-day delayed) | |
Top Loans
| |
% of Net Assets |
| TXU Corporation* |
0.9% |
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| First Data Corporation* |
0.9% |
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| Georgia-Pacific Corporation* |
0.9% |
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| CB Richard Ellis Services, Inc. |
0.9% |
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| Discovery Communications Holdings, LLC |
0.8% |
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| Ineos US Finance LLC* |
0.8% |
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| Nielsen Finance LLC |
0.8% |
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| USPF Holdings, LLC* |
0.8% |
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| Invista B.V.* |
0.8% |
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| TPF Generation Holdings LLC* |
0.8% |
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| | | *Multiple loans from this credit issuer have been aggregated. |
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Top Industries
| |
% of Net Assets |
| Health Care--Education and Childcare |
8.9% |
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| Utilities |
6.7% |
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| Chemicals, Plastics, and Rubber |
5.9% |
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| Broadcasting and Entertainment |
5.4% |
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| Leisure, Amusement, Motion Pictures, and Entertainment |
5.1% |
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| Printing and Publishing |
5.1% |
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| Beverage, Food, and Tobacco |
3.8% |
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| Automobiles |
3.5% |
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| Diversified/Conglomerate Manufacturing |
3.0% |
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| Diversified/Conglomerate Services |
3.0% |
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| | Quality Breakdown
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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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| |  Robert Dial
Mr. Dial is a Managing Director and head of NYLIM’s Leveraged Loan Group. In this capacity, he oversees approximately $3.5 billion in leveraged loan and related investments managed in collateralized loan obligation funds, institutional accounts, and retail mutual funds. Mr. Dial is a portfolio manager for NYLIM’s CLOs and institutional funds. Mr. Dial is also a portfolio manager for the MainStay Floating Rate Fund and MainStay VP Floating Rate Portfolio. Mr. Dial joined NYLIM in 2001. Prior to joining NYLIM, Mr. Dial was a Director in the Acquisition Finance Group at Fleet Securities where he was responsible for originating, structuring, distributing, and investing in non-investment grade financings. Previously, he worked in leveraged finance capacities at Credit Lyonnais and Chase Manhattan, where he completed the bank’s formal credit training program. Mr. Dial earned a B.A. from Yale University and an M.B.A. from the University of Chicago. He is a member of the CDO Advisory Committee, the Loan Investment Committee, and the Loan Credit Committee. |
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What You Should Know
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| Before You Invest | About Risk
Rated as non-investment grade, floating rate loans are not without risk and should be considered a speculative investment. Before investing in floating rate loans, default risk of principal and interest and recovery rate, as well as economic and industry trends must all be considered.
Default risk of principal and interest is the likelihood that an issuer will be unable to make good on its obligations. In most cases, ratings services such as Standard & Poor's and Moody's provide ratings based on the financial condition of the company.
Recovery rate is the ability of the holder to receive assets previously deemed collateral equal to the principal and interest of the loan in the event of a default.
Economic and industry factors will have a major impact on the performance of the floating rate loan market, as well as an individual company's ability to meet its obligation.
You should note that the investment objectives may not be met as the underlying investment options are subject to market risk and may fluctuate in value due to other factors such as: non-diversification, borrower industry concentration, and limited liquidity.
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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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