Class A and Investor Class shares of the following MainStay Funds are sold with a maximum initial sales charge of 5.5% and have an annual 12b-1 fee of 0.25%: Balanced, Common Stock, Conservative Allocation, Convertible, Cornerstone Growth, Epoch Global Choice, Epoch Global Equity Yield, Epoch International Small Cap, Epoch U.S. All Cap, Epoch U.S. Equity Yield, Growth Allocation, ICAP Equity, ICAP Global, ICAP International, ICAP Select Equity, Income Builder, International Equity, International Opportunities, Large Cap Growth, MAP, Marketfield, Moderate Allocation, Moderate Growth Allocation, U.S. Equity Opportunities, and U.S. Small Cap Funds.
Class A and Investor Class shares of the following MainStay Funds are sold with a maximum initial sales charge of 4.5% and have an annual 12b-1 fee of 0.25%: California Tax Free Opportunities, Global High Income, Government, High Yield Corporate Bond, High Yield Municipal Bond, High Yield Opportunities, Intermediate Term Bond, New York Tax Free Opportunities, Tax Free Bond, and Unconstrained Bond Funds.
Class A and Investor Class shares of the following MainStay Funds are sold with a maximum initial sales charge of 3% and have an annual 12b-1 fee of 0.25%: Floating Rate, Indexed Bond, S*P 500 Index, Short Duration High Yield, and Short Term Bond Funds.
Investment minimums: Class A share minimum initial investment is $25,000. Investor Class, Class B, and Class C share minimum initial investment is $1,000 ($2,500 for MainStay California Tax Free Opportunities, Cornerstone Growth, Epoch Global Choice, Epoch Global Equity Yield, Epoch International Small Cap, Epoch U.S. Equity Yield, High Yield Municipal Bond, Marketfield, New York Tax Free Opportunities, and Short Duration High Yield Funds).
Class B shares are sold with no initial sales charge, are subject to a CDSC of up to 5% (3% for MainStay Floating Rate Fund) if redeemed within the first six years of purchase (four years for MainStay Floating Rate Fund), and have an annual 12b-1 fee of 1% (0.5% for MainStay California Tax Free Opportunities, New York Tax Free Opportunities, and Tax Free Bond Funds). Class B shares of MainStay Cornerstone Growth Fund are closed to new investors.
Class C shares are sold with no initial sales charge, are subject to a CDSC of 1% if redeemed within one year of purchase, and have an annual 12b-1 fee of 1% (0.5% for MainStay California Tax Free Opportunities, New York Tax Free Opportunities, and Tax Free Bond Funds).
Class I shares are sold with no initial sales charge or CDSC, have no annual 12b-1 fee, and are generally available to corporate and institutional investors with a minimum initial investment of $5 million.
Class R1 shares are sold with no initial sales charge or CDSC, have no annual 12b-1 fee, and are available only through corporate-sponsored retirement programs, which include certain minimum program requirements.
Class R2 shares are sold with no initial sales charge or CDSC, have an annual 12b-1 fee of 0.25%, and are available only through corporate-sponsored retirement programs, which include certain minimum program requirements.
Class R3 shares are sold with no initial sales charge or CDSC, have an annual 12b-1 fee of 0.50%, and are available only through corporate-sponsored retirement programs, which include certain minimum program requirements.
Performance shown at NAV is based on total returns with reinvestment of capital gain and dividend distributions and does not reflect the effect of any sales charges or non-recurring fees, which, if reflected, would reduce performance shown.
SEC average annual total returns shown include the maximum sales charge (set forth above) and show the percentage change for each of the required periods with capital gain and dividend distributions reinvested.
Gross and Net Operating Expenses shown are from the most recent Fund prospectus fee table. Gross expenses are the total annual Fund operating expenses. Net expenses are the total annual Fund operating expenses after any recoupments, waivers, and/or reimbursements. MainStay Balanced, Common Stock, Convertible, Epoch Global Equity Yield, Epoch U.S. All Cap, Floating Rate, Global High Income, High Yield Corporate Bond, Income Builder, International Equity, MAP, U.S. Small Cap, and Unconstrained Bond Funds have no fee waiver or expense limitations in effect except as follows: there is a voluntary fee waiver and/or expense limitation for Class B, C, and Investor Class shares of MainStay Common Stock and International Equity Funds, which may be discontinued at any time without notice. Net expenses for MainStay Marketfield Fund Class I shares and MainStay Cornerstone Growth Fund Class A and I shares reflect a contractual fee waiver and/or expense limitation agreement in effect for two years (through 10/1/14 for MainStay Marketfield Fund and through 11/1/14 for MainStay Cornerstone Growth Fund) unless extended by New York Life Investments and approved by the Fund's Board. MainStay Cornerstone Growth Fund also has a voluntary fee waiver and/or expense limitation in effect through 2/28/14 unless terminated earlier by New York Life Investments or the Funds Board. Net expenses for the following MainStay Funds reflect contractual fee waiver and/or expense limitation agreements in effect through 2/28/14 which shall renew automatically for one-year terms unless written notice is provided prior to the start of the next term or upon approval of the Funds' Board: MainStay California Tax Free Opportunities, Conservative Allocation, Epoch Global Choice, Epoch International Small Cap, Epoch U.S. Equity Yield, Government, Growth Allocation, High Yield Municipal Bond, High Yield Opportunities, ICAP Equity (Class I only), ICAP Global, ICAP International (Class I only), ICAP Select Equity (Class A and I only), Indexed Bond, Intermediate Term Bond (Class I only), International Opportunities, Large Cap Growth (Class I only), Moderate Allocation, Moderate Growth Allocation, Money Market, New York Tax Free Opportunities, S&P 500 Index, Short Duration High Yield, Short Term Bond, Tax Free Bond, and U.S. Equity Opportunities Funds. Additionally, there are voluntary fee waiver and/or expense limitations in place as follows: MainStay ICAP Equity Fund (Class C, R1, and Investor Class); MainStay ICAP International Fund (Class R1); MainStay ICAP Select Equity Fund (Class R1 and R2); MainStay Intermediate Term Bond Fund (Class R1 and R2); MainStay International Opportunities Fund (Class C and Investor Class); MainStay Large Cap Growth Fund (Class R1); MainStay S&P 500 Index Fund (Investor Class); and MainStay U.S. Equity Opportunities Fund (Class C and Investor Class). These voluntary fee waiver and/or expense limitation may be discontinued at any time without notice.
Since inception return is quoted for Funds with less than 10 years of operating history.
MainStay Cornerstone Growth Fund: Effective 1/11/13, Keystone Large Cap Growth Fund was reorganized with and into MainStay Cornerstone Growth Fund. Performance for Clas A and Class I shares reflect the historical performance of the then-existing Class A and Class I shares of Keystone Large Cap Growth Fund (which was subject to a different fee structure) for periods prior to 1/11/13. Performance for Class B, C, R2, and Investor Class shares includes the historical performance of Class A shares from inception (8/7/06) through 1/11/13 adjusted to reflect differences in fees and expenses.
MainStay Epoch U.S. All Cap Fund: Performance for Class A, B, and C shares includes the historical performance of the Fund's Class I shares from inception (1/2/91) through 12/31/03 adjusted to reflect the applicable fees and expenses. Performance for Investor Class shares includes the adjusted historical performance of Class A shares from inception through 2/27/08.
MainStay Epoch U.S. Equity Yield Fund: Effective after the close of business 11/13/09, Epoch U.S. Large Cap Equity Fund was reorganized as MainStay Epoch U.S. Equity Fund. Performance for Class A and I shares, reflects the performance of the Class P and Institutional Class shares, respectively, of Epoch U.S. Large Cap Equity Fund (which was subject to a different fee structure) adjusted to reflect sales charges, but not fees and expenses; absent these adjustments, performance may have been lower. Performance for Class C and Investor Class shares includes the performance of Class I shares from inception (12/3/08) through 11/15/09 adjusted to reflect the applicable fees and expenses. Effective 9/17/12, MainStay Epoch U.S. Equity Fund was renamed MainStay Epoch U.S. Equity Yield Fund. At that time, the Fund changed its investment objective and principal investment strategy.
MainStay ICAP Equity Fund, MainStay ICAP International Fund, MainStay ICAP Select Equity Fund, Effective 9/1/06, ICAP Equity Fund, ICAP International Fund, and ICAP Select Equity Fund were renamed MainStay ICAP Equity Fund, MainStay ICAP International Fund, and MainStay ICAP Select Equity Fund, respectively. At that time, each Fund's existing no-load shares were redesignated Class I shares. Performance for Class A, C, R1, R2, and R3 shares of each Fund includes the historical performance of each respective Fund's Class I shares from inception (12/31/94 for ICAP Equity Fund and 12/31/97 for ICAP International and ICAP Select Equity Funds) through 8/31/06 adjusted to reflect the applicable fees and expenses. Performance for Investor Class shares of each Fund includes the adjusted historical performance of each respective Fund's Class A shares from Fund inception through 4/28/08. Performance for Class B shares of MainStay ICAP Select Equity Fund includes the adjusted historical performance of the Fund's Class I shares from the Fund's inception through 11/12/09.
MainStay Large Cap Growth Fund: Effective after close of business January 13, 2012, MainStay Large Cap Growth Fund was closed to new investors. Existing shareholders may continue to purchase additional Fund shares, as well as certain employee benefit and retirement plans and other existing fee-based or wrap programs. Please see the Fund's prospectus for more information on eligibility. Effective 4/1/05, FMI Winslow Growth Fund was reorganized as MainStay Large Cap Growth Fund Class A shares. Performance for MainStay Large Cap Growth Fund Class A shares includes the historical performance of the FMI Winslow Growth Fund from inception (7/1/95) through 3/31/05 adjusted to reflect the current applicable maximum sales charge and fees and expenses. Performance for Class B, C, I, R1, R2, R3, and Investor Class shares includes the historical performance of Class A shares from inception through 3/31/05 for Class B, C, I, R1, and R2 shares; through 4/27/06 for Class R3 shares; and through 2/27/08 for Investor Class shares, adjusted to reflect the applicable fees and expenses.
MainStay Indexed Bond Fund, S&P 500 Index Fund, and MainStay Short Duration High Yield Fund: Performance for Class A shares includes the historical performance of the Fund's Class I shares from inception (1/2/91) through 12/31/03 adjusted to reflect the applicable fees and expenses. Performance for Investor Class shares includes the adjusted historical performance of Class A shares from inception through 2/27/08.
MainStay U.S. Equity Opportunities Fund: Effective 2/28/13, MainStay 130/30 Core Fund was renamed MainStay U.S. Equity Opportunities Fund. Performance for Investor Class shares includes the historical performance of Class A shares from inception (6/29/07) through 2/27/08 adjusted to reflect the applicable fees and expenses.
MainStay U.S. Small Cap Fund: Performance for Class A, B, R1, and R2 shares includes the historical performance of the Fund's Class I shares from inception (1/12/87) through 12/31/03 for Class A and B shares, and through 7/30/12 for Class R1 and R2 shares, adjusted to reflect the applicable fees and expenses. 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 includes the historical performance of the Class I shares from inception through 12/29/02 adjusted to reflect the applicable fees and expenses. 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 includes the adjusted historical performance of Class A shares from inception through 2/27/08.
MainStay Epoch Global Choice Fund: Effective after the close of business 11/13/09, Epoch U.S. All Cap Equity Fund was reorganized as MainStay Epoch Global Choice Fund. Performance for Class A and I shares reflects the performance of the Class P and Institutional Class shares, respectively, of Epoch U.S. All Cap Equity Fund (which was subject to a different fee structure) adjusted to reflect sales charges, but not fees and expenses; absent these adjustments performance may have been lower. Performance for Class C and Investor Class shares includes the performance of Class I shares from inception (7/25/05) through 11/15/09 adjusted to reflect the applicable fees and expenses.
MainStay Epoch Global Equity Yield Fund: Effective after the close of business 11/13/09, Epoch Global Equity Shareholder Yield Fund was reorganized as MainStay Epoch Global Equity Yield Fund. Performance for Class A and I shares reflects the performance of the Class P and Institutional Class shares, respectively, of Epoch Global Equity Shareholder Yield Fund (which was subject to a different fee structure) adjusted to reflect sales charges, but not fees and expenses; absent these adjustments performance may have been lower. Performance for Class C and Investor Class shares includes the performance of Class I shares from inception (12/27/05) through 11/15/09 adjusted to reflect the applicable fees and expenses.
MainStay Epoch International Small Cap Fund: Effective after the close of business 11/13/09, Epoch International Small Cap Fund was reorganized as MainStay Epoch International Small Cap Fund. Performance for Class A and I shares reflects the performance of the Class P and Institutional Class shares, respectively, of Epoch International Small Cap Fund (which was subject to a different fee structure) adjusted to reflect sales charges, but not fees and expenses; absent these adjustments performance may have been lower. Performance for Class C and Investor Class shares includes the performance of Class I shares from inception (1/25/05) through 11/15/09 adjusted to reflect the applicable fees and expenses.
MainStay International Equity Fund: Performance for Class A, C, I, R1, R2, and R3 shares includes the historical performance of the Fund's Class B shares from inception (9/13/94) through 12/31/94 for Class A shares, through 8/31/98 for Class C shares, through 12/31/03 for Class I, R1, and R2 shares, and through 4/27/06 for Class R3, adjusted to reflect the applicable fees and expenses. Performance for Investor Class shares includes the adjusted historical performance of Class A shares from inception through 2/27/08.
MainStay International Opportunities Fund: Effective 2/28/13, MainStay 130/30 International Fund was renamed MainStay International Opportunities Fund. Performance for Investor Class shares includes the historical performance of Class A shares from inception (9/28/07) through 2/27/08 adjusted to reflect the applicable fees and expenses.
MainStay Government Fund: Performance for Class A, C, and I shares includes the historical performance of the Fund's Class B shares from inception (5/1/86) through 12/31/94 for Class Ashares, through 8/31/98 for Class C shares, and through 12/31/03 for Class I shares, adjusted to reflect the applicable fees and expenses. Performance for Investor Class shares includes the adjusted historical performance of Class A shares from inception through 2/27/08.
MainStay High Yield Corporate Bond Fund: Performance for Class A, C, I, R1, and R2 shares includes the historical performance of the Fund's Class B shares from inception (5/1/86) through 12/31/94 for Class A shares, through 8/31/98 for Class Cshares, through 12/31/03 for Class I shares, through 4/30/08 for R2 shares, and through 6/29/12 for R1 shares, adjusted to reflect the applicable fees and expenses. Performance for Investor Class shares includes the adjusted historical performance of Class A shares from inception through 2/27/08.
MainStay Intermediate Term Bond Fund: Performance for Class A, B, C, R1, and R2 shares includes the historical performance of the Fund's Class I shares from inception (1/2/91) through 12/31/03 for Class A, B, and C shares, and through 6/28/12 for Class R1 and R2 shares, adjusted to reflect the applicable fees and expenses. Performance for Investor Class shares includes the adjusted historical performance of Class A shares from inception through 2/27/08.
MainStay Money Market Fund: The 7-day current yield is based on the latest 7-day period ended . Yields reflect a contractual fee waiver and/or expense limitation agreement, without which the 7-day current yield would have been: Class A: , Investor Class: , Class B: , and Class C: . This agreement is in effect through 2/28/14, and shall renew automatically for one-year terms unless written notice is provided prior to the start of the next term or upon approval of the Fund's Board. The 7-day current yield more closely reflects the current earnings of the Fund than the total return. Performance for Class A and C shares includes the historical performance of the Fund's Class B shares from inception (5/1/86) through 12/31/94 for Class A shares, and through 8/31/98 for Class C shares, adjusted to reflect the applicable fees and expenses. Performance for Investor Class shares includes the adjusted historical performance of Class A shares from inception through 2/27/08.
MainStay Unconstrained Bond Fund: Effective 2/28/13, MainStay Flexible Bond Fund was renamed MainStay Unconstrained Bond Fund. Performance for Class C shares includes the historical performance of the Fund's Class B shares from inception (2/28/97) through 8/31/98 adjusted to reflect the applicable fees and expenses. Performance for Class I and Investor Class shares includes the adjusted historical performance of Class A shares from inception through 12/31/03 for Class I shares, and through 2/27/08 for Investor Class shares.
MainStay California Tax Free Opportunities Fund, MainStay High Yield Municipal Bond Fund, MainStay New York Tax Free Opportunities Fund, and MainStay Tax Free Bond Fund: The Fund is not available in Retirement Services products.
MainStay California Tax Free Opportunities Fund: The Fund is available for sale to CA, NV, OR, WA, AZ, and UT residents only.
MainStay New York Tax Free Opportunities Fund: The Fund is available for sale to NY, NJ, CT, MA, VT, FL, and DE residents only.
MainStay Tax Free Bond Fund: Performance for Class A, C, and I shares includes the historical performance of the Fund's Class B shares from inception (5/1/86) through 12/31/94 for Class A shares, through 8/31/98 for Class C shares, and through 12/20/09 for Class I shares, adjusted to reflect the applicable fees and expenses. Performance for Investor Class shares includes the adjusted historical performance of Class A shares from inception through 2/27/08.
MainStay Balanced Fund: Performance for Class A, B, R1, R2, and R3 shares includes the historical performance of the Fund's Class I shares from inception (5/1/89) through 12/31/03 for Class A, B, R1, and R2 shares, and through 4/27/06 for Class R3 shares, adjusted to reflect the applicable fees and expenses. 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 includes the historical performance of the Class I shares from inception through 12/29/02 adjusted to reflect the applicable fees and expenses. 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 includes the adjusted historical performance of Class A shares from inception through 2/27/08.
MainStay Convertible Fund: Performance for Class A, C, and I shares includes the historical performance of the Fund's Class B shares from inception (5/1/86) through 12/31/94 for Class A shares, through 8/31/98 for Class C shares, and through 11/27/08 for Class I shares, adjusted to reflect the applicable fees and expenses. Performance for Investor Class shares includes the adjusted historical performance of Class A shares from inception through 2/27/08.
MainStay Income Builder Fund: Performance for Class A, C, and I shares includes the historical performance of the Fund's Class B shares from inception (12/29/87) through 12/31/94 for Class A shares, through 8/31/98 for Class C shares, and through 12/31/03 for Class I shares, adjusted to reflect the applicable fees and expenses. Performance for Investor Class shares includes the adjusted historical performance of Class A shares from inception through 2/27/08.
MainStay Marketfield Fund: Effective 10/8/12, Marketfield Fund was renamed MainStay Marketfield Fund. At that time, the Fund's existing no-load shares were redesignated Class I shares. Performance for Class I shares reflects the historical performance of the then-existing shares of Marketfield Fund (which was subject to a different fee structure) for periods prior to 10/8/12. Performance for Class A, C, R2, and Investor Class shares includes the historical performance of Class I shares from inception (7/31/07) through 10/7/12 adjusted to reflect differences in fees and expenses.
MainStay Conservative Allocation Fund, MainStay Growth Allocation Fund, MainStay Moderate Growth Allocation Fund, and MainStay Moderate Allocation Fund: The Fund is a "fund of funds" that invests in shares of other mutual funds within the MainStay Family of Funds (the underlying funds). Fund performance depends on the advisor's skill in determining the asset-class allocations and the mix of underlying MainStay Funds, as well as the performance of those underlying Funds. The underlying Funds' performance may be lower than the performance of the asset class which they were selected to represent. The Fund may invest more than 25% of its assets in one underlying Fund, which may significantly affect net asset value of the Fund. Also, the cost of investing in this type of Fund may be higher than the cost of investing in a mutual fund that invests directly in individual stocks and bonds. By investing in the Fund, you will indirectly bear fees and expenses charged by the underlying Funds in which the Fund invests in addition to the Fund's direct fees and expenses. Performance for Investor Class shares includes the historical performance of Class A shares from inception (4/4/05) through 2/27/08 adjusted to reflect the applicable fees and expenses.
MainStay Common Stock Fund: Performance for Class C shares includes the historical performance of the Fund's Class B shares from inception (6/1/98) through 8/31/98 adjusted to reflect the applicable fees and expenses. Performance for Class I and Investor Class shares includes the adjusted historical performance of Class A shares from inception through 12/27/04 for Class I shares, and through 2/27/08 for Investor Class shares.
MainStay MAP Fund: Performance for Class R1, R2, R3, and Investor Class shares includes the historical performance of the Fund's Class A shares from inception (6/9/99) through 12/31/03 for Class R1 and R2 shares, through 4/27/06 for Class R3 shares, and through 2/27/08 for Investor Class shares, adjusted to reflect the applicable fees and expenses. Effective 6/9/99, MAP-Equity Fund was reorganized as MainStay MAP Fund Class I shares. Performance for MainStay MAP Fund Class I shares includes the performance of MAP-Equity Fund from inception (1/21/71) through 6/8/99. Prior to the reorganization, shares of MAP-Equity Fund were subject to a maximum 4.75% sales charge.
MainStay Floating Rate Fund: Performance for Investor Class shares includes the historical performance of Class A shares from inception (5/3/04) through 2/27/08 adjusted to reflect the applicable fees and expenses.
MainStay Global High Income Fund: Performance for Class C shares includes the historical performance of the Fund's Class B shares from inception (6/1/98) through 8/31/98 adjusted to reflect the applicable fees and expenses. Performance for Class I and Investor Class shares includes the adjusted historical performance of Class A shares from inception through 8/30/07 for Class I shares, and through 2/27/08 for Investor Class shares.
MainStay High Yield Opportunities Fund: Performance for Investor Class shares includes the historical performance of Class A shares from inception (12/14/07) through 2/27/08 adjusted to reflect the applicable fees and expenses.
MainStay Epoch U.S. All Cap Fund, MainStay Indexed Bond Fund, MainStay Intermediate Bond Fund, and S&P 500 Index Fund: Effective 1/1/04, the Fund changed the name of the No-Load Class shares to the Class I.
