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. Mid-capitalization companies are generally less established and their stocks may be more volatile and less liquid than the securities of larger companies. The Fund's use of securities lending presents the risk of default by the borrower, which may result in a loss to the Fund.
1. POP (Public Offering Price) is the NAV (Net Asset Value) plus a sales charge. All POPs are subject to revision and include the maximum sales charge.
2. The Russell Midcap® Value Index is an unmanaged index that measures the performance of those Russell Midcap 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.
3. $500 minimum for accounts opened with a systematic investment plan of at least $50 per month, or no minimum for accounts opened with a systematic investment plan of at least $100 per month.
Fund statistics shown are for Class A only, other share classes may vary. The P/E Ratio (price-to-earnings) denotes the weighted average of all the P/Es of the securities in the fund's portfolio. The P/B Ratio (price-to-book) is the weighted average of all the P/Bs of the securities in the fund's portfolio. Return on Equity (ROE) is the weighted average of all the ROEs of the securities in the fund's portfolio. ROE is calculated by dividing net income by book value. Standard deviation measures how widely dispersed a fund's returns have been over a specified period of time. A high standard deviation indicates that the range is wide, implying greater potential for volatility. Beta is a measure of historical volatility relative to an appropriate index (benchmark) based on its investment objective. A beta greater than 1.00 indicates volatility greater than the benchmark's. Alpha measures a fund's risk-adjusted performance and is expressed as an annualized percentage. R-Squared measures the percentage of a fund's movements that result from movements in the index. The Sharpe Ratio shown is calculated for the past 36-month period by dividing annualized excess returns by annualized standard deviation. The Annual Turnover Rate is as of the most recent annual shareholder report. Upside/Downside Market Capture measures a manager's performance in up/down markets relative to the fund's benchmark.
Average annual total returns include the change in share price and reinvestment of dividends and capital gain distributions. Performance for Class C shares, first offered 9/1/98, includes the historical performance of Class B shares from inception (6/1/98) through 8/31/98 adjusted to reflect the applicable CDSC for such shares. Performance for Class I, R1, and R2 shares, first offered 1/2/04, and performance for Investor Class shares, first offered 2/28/08, includes the historical performance of Class A shares from inception (6/1/98) through 12/31/03 for Class I, R1, and R2, and through 2/27/08 for Investor Class, adjusted to reflect the applicable sales charges and fees and expenses for such shares. Class I shares are generally available only to corporate and institutional investors. Class R1 and R2 shares are available only through corporate-sponsored retirement programs, which include certain minimum program requirements.
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.
