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. 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. The Fund's use of securities lending presents the risk of default by the borrower, which may result in a loss to the Fund. The Fund may experience a portfolio turnover rate of over 100% and may generate short-term capital gains which are taxable.
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® Index is an unmanaged index that measures the performance of the 800 smallest companies in the Russell 1000® Index. 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.
Effective 9/29/08, MainStay Mid Cap Opportunity Fund was renamed MainStay Mid Cap Core Fund. At that time, the Fund's investment objective was changed from seeking total return to seeking long-term growth of capital, repositioning the Fund from investment with a value orientation to investment with a core orientation.
Average annual total returns include the change in share price and reinvestment of dividends and capital gain distributions. Performance for Class A, B and R3 shares, first offered 1/2/04, 1/2/04, and 4/28/06, respectively, includes the historical performance of Class I shares from inception (12/27/94) through 12/31/03 for Class A and B, and through 4/27/06 for Class R3, adjusted to reflect the applicable sales charge (or CDSC) and fees and expenses for such shares. 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 Class I shares from inception (12/27/94) through 12/29/02 adjusted to reflect the applicable sales charge (or CDSC) and fees and expenses for such shares. Effective 1/1/04, all outstanding Class L shares of the Fund were converted and/or redesignated Class C shares. Performance for Investor Class shares, first offered 2/28/08, includes the historical performance of Class A shares from Fund inception (12/27/94) through 2/27/08 adjusted to reflect the applicable fees and expenses for such shares. Class I shares are generally available only to corporate and institutional investors. Class R3 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.
