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| MainStay ICAP Global 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:
International |
YTD % |
1 Year % |
3 Year % |
5 Year % |
10 Year % |
Since Incep. % |
| Average Annual Total Returns as of 04/30/2008 |
| NAV: |
| Class A (04/30/2008) |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
| Class INV (04/30/2008) |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
| Class C (04/30/2008) |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
With Sales Charges: |
| Class A (04/30/2008) |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
| Class INV (04/30/2008) |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
| Class C (04/30/2008) |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
| Average Annual Total Returns as of 03/31/2008 |
| NAV: |
| Class A (04/30/2008) |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
| Class INV (04/30/2008) |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
| Class C (04/30/2008) |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
With Sales Charges: |
| Class A (04/30/2008) |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
| Class INV (04/30/2008) |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
| Class C (04/30/2008) |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
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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| Holdings information for this Fund is not yet available. |
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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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Investment Subadvisor
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| The Investment Advisor has delegated its portfolio management responsibilities for this Fund to its Investment Subadvisor, Institutional Capital LLC (ICAP). ICAP is an affiliate of New York Life Investment Management LLC. Founded in 1970 as an institutional investment firm dedicated to the unique needs of institutional investors, ICAP currently manages over $14 billion in assets for some of the world's largest and most respected corporations and institutions.
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Portfolio Manager(s)
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| |  Jerrold K. Senser, CFA
Mr. Senser serves as Chief Executive Officer and Chief Investment Officer of ICAP.
As CEO and CIO, Mr. Senser heads the investment committee and is the lead portfolio manager
for all of ICAP’s investment strategies, MainStay ICAP Funds, and MainStay MAP Fund. Mr. Senser
has been with the firm since 1986. Mr. Senser graduated with a B.A. in economics from the University
of Michigan and an M.B.A from the University of Chicago. He is a CFA charterholder. Prior to joining ICAP, Mr. Senser spent seven years at Stein Roe & Farnham as an associate involved in economic and
fixed-income analysis. He began his career at Data Resources, Inc., an economic consulting firm. |
| |  Thomas R. Wenzel, CFA
Mr. Wenzel, Executive Vice President and Director of Research, is a senior member of the investment committee. Mr. Wenzel serves as a lead portfolio manager for all of ICAP’s investment strategies, MainStay ICAP Funds, and MainStay MAP Funds. As a 15-year veteran of the firm, Mr. Wenzel also leads the firm’s investment research with particular emphasis on the financial sector. At the University of Wisconsin-Madison, he participated in the applied security analysis and investment management program and earned a B.A. in economics and an M.B.A. He is a CFA charterholder. Before joining ICAP in 1993, he served as a senior equity analyst at Brinson Partners for six years.
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Fund Objective
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| To seek a superior total return. |
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Investment Strategy
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The Fund seeks to achieve its investment objective by investing primarily in equity securities of U.S. and foreign companies with market capitalizations of at least $2 billion. The Fund may invest in equity securities of companies that trade in developed, emerging or developing markets. The Fund's investments may be publicly traded in the U.S. or on a foreign exchange, and may be bought or sold in a foreign currency. The Fund seeks to achieve a total return greater than the Morgan Stanley Capital International World Index (the "MSCI World Index"). The Fund will typically hold between 50 and 80 securities. Under normal market conditions, the Fund will invest a significant amount of its assets (at least 40%, unless ICAP deems market conditions to be unfavorable, in which case the Fund will invest at least 30%) in securities of companies organized or located outside the United States or doing a substantial amount of business outside the United States. The Fund will allocate its assets among various countries (at least three
different countries), including the United States. |
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The Fund may invest in foreign common stocks and other equity securities and currencies. Other equity securities may include ADRs, GDRs, EDRs, warrants, REITs, preferred stocks and other securities convertible or exchangeable into common stock. Common stocks of foreign companies are equity securities issued by a corporation domiciled outside of the United States that trade on a foreign securities exchange. |
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Fund Statistics
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Class A |
Class INV |
Class C |
| Total Net Assets |
N/A |
N/A |
N/A |
| Purchases | $1,000 minimum initial investment,
$50 subsequent | |
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What You Should Know
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| Principal Risks | Investments in common stocks and other equity securities are subject to the risks of changing economic, stock market, industry and company conditions and the risks inherent in management's ability to anticipate such changes that can adversely affect the value of the Fund's holdings. Opportunities for greater gain often come with the possibility of a greater risk of loss. Some of the securities, therefore, may carry above-average risk compared to the risk of securities found in common stock indices, such as the Dow Jones Industrial Average and the S&P 500 Index.
An investment in the Fund entails the special risks of international investing, including currency exchange fluctuations, government regulations and the potential for political and economic instability. Risks relating to withholding or other taxes, trading, settlement, custodial and other operational risks and the loss of stringent investor protection and disclosure standards of some foreign markets may cause the Fund's share price to be more volatile than that of a U.S.-only fund. The Fund may incur higher expenses and costs when making foreign investments, which will affect the Fund's total return. Because the Fund may invest in securities of companies trading in emerging or developing markets, investing in this Fund involves risks in addition to and greater than those generally associated with investing in more developed foreign markets. The extent of economic development, political stability, market depth, infrastructure and regulatory oversight can be less than in more developed markets. Less developed countries may have smaller securities markets and lower trading volumes, which may lead to greater price volatility. The legal and accounting structures of these countries may be less developed, creating a greater likelihood of high levels of inflation, deflation or currency devaluations, which could affect their economies and securities markets. Changes affecting particular regions or sectors of international markets may also have a significant impact on the Fund. Investments in foreign companies, in the form of depositary receipts, such as ADRs, GDRs or EDRs, may entail the special risks of international investing.
The Fund's investments may also include mid-cap stocks. Mid-cap stocks are generally less established and may be more volatile and less liquid than stocks of larger companies. The returns may vary significantly from the overall stock market. In comparison to stocks of companies with larger capitalizations, these companies may have more price volatility, greater spreads between their bid and ask prices, significantly lower trading volumes and cyclical, static or moderate growth prospects.
The Fund will typically hold between 50 and 80 securities. As a result, a larger percentage of its assets may be invested in a particular issuer or in fewer companies than is typical of other mutual funds. This may increase volatility. The Fund will be more susceptible to adverse economic, political, regulatory or market developments affecting a single issuer.
The use of options and futures transactions involves risks and special considerations which include, among others, correlation risk and liquidity risk. Correlation risk is the risk that there might be imperfect correlation, or even no correlation, between price movements of a derivative instrument and price movements of investments being hedged. Liquidity risk is the risk that a derivative instrument cannot be sold, closed out or replaced quickly at or very close to its fundamental value. Generally, exchange-traded contracts are very liquid because the exchange clearinghouse is the counterparty of every contract. Over-the-counter transactions generally are less liquid than exchange-traded derivatives since they often can be closed out only with the other party to the transaction.
Due to its trading strategies, it is anticipated that the Fund may exceed a portfolio turnover rate of 100%. Funds with high turnover rates (over 100%) often have higher transaction costs (which are paid by the Fund) and may generate short-term capital gains (on which you will pay taxes, even if you do not sell any shares by year-end).
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| Past Performance | | As the Fund has not yet commenced operations as of the date of this Prospectus, no full calendar year performance information is available. |
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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 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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The MSCI World Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of 23 developed markets. The market capitalizations of companies in the Index fluctuate; as of March 31, 2008, they ranged from $256 million to $455 billion.
Portfolio turnover measures the amount of trading a Fund does during the year. |
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| Class A: 04/30/08 |
| Class INV: 04/30/08 |
| Class C: 04/30/08 |
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| Class A: ICGLX |
| Class INV: ICGNX |
| Class C: ICGCX |
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| Class A: 448926766 |
| Class INV: 448926733 |
| Class C: 448926758 |
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| Class A: 2576 |
| Class INV: 2579 |
| Class C: 2577 |
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