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| Broad Perspective. Uncommon Focus. |
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Finding value in today's market requires a broad perspective—to look for opportunities wherever they may be—and an uncommon focus—to uncover the most attractive investments.
This unique combination—combined with a disciplined approach to investing consistently applied over time—can be a key to long-term investment success.
Institutional Capital LLC (ICAP) has applied this approach for decades, resulting in proven long-term investment results. The broad perspective and uncommon focus of ICAP is now available to all investors through MainStay Funds:
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MainStay ICAP International Fund—The Fund invests primarily in equity securities of foreign companies with market capitalization of at least $2 billion. The Fund may invest in stocks that trade in emerging or developing markets and typically holds between 30 and 50 securities. |
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MainStay ICAP Select Equity Fund—A large-cap value fund that invests primarily in U.S. dollar-denominated equity securities of companies with market capitalization of at least $2 billion. The Fund typically holds between 20 and 30 securities. |
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MainStay ICAP Equity Fund—A large-cap value fund that invests primarily in U.S. dollar-denominated equity securities with market capitalization of at least $2 billion. The Fund intends to be fully invested in equity securities at all times and typically holds between 40 and 45 securities. |
The ICAP Difference
Founded in 1970, ICAP manages money for some of the largest and most respected corporations and institutions in the world. The company is the latest addition to the growing line-up of boutique investment firms at New York Life Investment Management LLC (NYLIM), of which MainStay is a division.
ICAP's value-oriented focus, team approach, and time-tested investment process have earned it recognition as a premier institutional investment firm. In 2005, ICAP was named Morningstar's International-Stock Fund Manager of the Year and was a finalist for Morningstar's Domestic-Stock Fund Manager of the Year.
Team Approach
ICAP's strength can be found in its people. The firm's success is built upon its lasting commitment to teamwork and collaboration, and the skill and experience of each and every team member.
Experience is Essential
One of the primary reasons for ICAP's continuing success is its investment team. ICAP's team of senior investment professionals possess, on average, 22 years of industry experience, including nearly 15 years with the firm. The expertise of these veteran institutional money managers is reflected in every investment decision made by the team.
A Unique Approach to Team Building
To ensure consistent application of ICAP's investment philosophy, the firm's analysts are developed "in-house" through a structured mentoring program with senior committee members. This program allows the experience of the team to be shared with the next generation, and it facilitates better communication within each step of the investment process. To help broaden their capabilities, analysts are encouraged to earn their Masters in Business Administration (MBA) and Certified Financial Analyst (CFA) designations early in their careers.
More on the Funds
MainStay ICAP International Fund
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NASDAQ |
CUSIP |
| Class A |
ICEVX |
448926501 |
| Class C |
ICEWX |
448926600 |
| Class I |
ICEUX |
448926402 |
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MainStay ICAP Select Equity Fund
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NASDAQ |
CUSIP |
| Class A |
ICSRX |
448926873 |
| Class C |
ICSVX |
448926865 |
| Class I |
ICSLX |
448926303 |
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MainStay ICAP Equity Fund
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NASDAQ |
CUSIP |
| Class A |
ICAUX |
448926824 |
| Class C |
ICAVX |
448926816 |
| Class I |
ICAEX |
448926204 |
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Before You Invest
Foreign securities can 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. These risks are likely to be greater for emerging markets than in developed markets. The Funds may invest in derivatives, which may increase the volatility of the Funds' net asset values and may result in a loss to the Funds. The Funds may experience a portfolio turnover rate of over 100% and may generate short-term capital gains which are taxable.
The MainStay ICAP Select Equity Fund is non-diversified. By concentrating in a smaller number of investments, the Fund's risk is increased because each investment has a greater effect on the Fund's performance.
Please keep in mind that investment objectives may not be met as mutual funds are subject to market risk and fluctuate in value.
Securities distributed by NYLIFE Distributors LLC, 169 Lackawanna Avenue, Parsippany, NJ 07054.
Please call 1-800-MAINSTAY (1-800-624-6782) for MainStay Funds prospectuses. 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.
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