MainStay Balanced Fund

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Fund Management

New York Life Investment Management LLC serves as the Fund’s Manager and provides the day-to-day portfolio management services for the Fund. The Manager uses the New York Life Multi-Asset Solutions Group to manage the Fund's investments.

Portfolio Managers

  • Jae Yoon, CFA
  • Fund's Manager:
    Since 2011

    Industry Experience:
    27 years

  • Jonathan Swaney
  • Fund's Manager:
    Since 2017

    Industry Experience:
    24 years

Investment Subadvisor

 

Fixed Income Investors is a division of NYL Investors LLC, a wholly owned subsidiary of New York Life Insurance Company, with demonstrated expertise and scale in every major fixed-income sector employing a disciplined, team-oriented approach to managing fixed-income portfolios for clients in the institutional, retail, and CDO/CLO markets.

Portfolio Managers

  • Thomas J. Girard
  • Fund's Manager:
    Since 2008

    Industry Experience:
    33 years

  • Donald F. Serek, CFA
  • Fund's Manager:
    Since 2012

    Industry Experience:
    27 years

  • George S. Cherpelis
  • Fund's Manager:
    Since 2012

    Industry Experience:
    25 years

Investment
Subadvisor

 

Cornerstone Holdings is an indirect, wholly owned subsidiary of New York Life. Cornerstone is an investment manager with a broad array of quantitative and fundamental equity strategies across multiple capitalizations and styles including domestic and global long-only and absolute return strategies.

Portfolio Manager

  • Andrew Ver Planck, CFA
  • Fund's Manager:
    Since 2013

    Industry Experience:
    17 years

  • Migene Kim, CFA
  • Fund's Manager:
    Since 2014

    Industry Experience:
    21 years

  • Summary
  • Performance
  • Portfolio
  • Distributions
    & Yields
  • Fees &
    Expenses

Fund Objective: Seeks total return.

  • A disciplined balanced strategy
    A broadly diversified balanced portfolio that allocates assets between stocks for capital appreciation and fixed income securities for interest.

  • Multi-faceted approach
    Stock selection is driven by valuation, earnings growth, momentum and quality factors. Fixed income portion uses a duration neutral, relative value approach.

  • Managed by seasoned investors
    The equity and fixed-income portions are managed independently by different investment firms, providing true specialists dedicated to each asset class.

Class A & INV: 5.5% maximum initial sales charge; a 1% CDSC may be imposed on certain redemptions made within 24 months of the date of purchase on shares that were purchased without an initial sales charge. Class B: CDSC up to 5% if redeemed within six years. Class C: 1% CDSC if redeemed within one year. Class I: No initial sales charge or CDSC. Total annual operating expenses are: Class A: 1.15%, INV: 1.3%, B: 2.05%, C: 2.05%, I: 0.90%, R1: 1.00%, R2: 1.25%, R3: 1.50%.

Returns represent past performance which is no guarantee of future results. Current performance may be lower or higher. Investment return and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.

Effective 2/28/17, Class B shares are closed to new investors and new share purchases. Existing Class B shareholders may continue to reinvest dividends and capital gains distributions, as well as exchange their Class B shares for Class B shares of other Funds as permitted by the current exchange privileges. Existing Class B shareholders can find more information in the Fund's current prospectus.

Before You Invest

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. These risks are likely to be greater for emerging markets than for developed markets. The Fund may invest in derivatives, which may increase the volatility of the Fund's net asset value and may result in a loss to the Fund. The principal risk of mortgage-related and asset-backed securities is that underlying debt may be prepaid ahead of schedule, if interest rates fall, thereby reducing the value of the Fund's investment. If interest rates rise, less of the debt may be prepaid and the Fund may lose money. Funds that invest in bonds are subject to interest-rate risk and can lose principal value when interest rates rise. Bonds are also subject to credit risk, in which the bond issuer may fail to pay interest and principal in a timely manner. The Fund may experience a portfolio turnover rate of over 100% and may generate short-term capital gains which are taxable.

Disclosure

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. Average annual total returns shown include the change in share price and reinvestment of dividends and capital gain distributions. Performance for Class A and B shares includes the historical performance of Class I shares from inception (5/1/89) through 12/31/03 adjusted to reflect the applicable sales charge (or CDSC) and 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 Class I shares from inception through 12/29/02 adjusted to reflect the applicable sales charge, CDSC, and 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 historical performance of Class A shares from inception through 2/27/08 adjusted to reflect the applicable fees and expenses. Class I shares are generally available only to corporate and institutional investors. Class R shares are available only through corporate-sponsored retirement programs.

4. No sales charge applies to Class A and Investor Class share investments of $1,000,000 or more ($250,000 or more with respect to MainStay California Tax Free Opportunities Fund, MainStay High Yield Municipal Bond Fund, MainStay New York Tax Free Opportunities Fund, MainStay Tax Advantaged Short Term Bond Fund, and MainStay Tax Free Bond Fund; or $500,000 or more with respect to MainStay Floating Rate Fund and MainStay Short Duration High Yield Fund). Effective January 1, 2017, a CDSC of 1% may be imposed on certain redemptions of such shares within 24 months of the date of purchase.

Investment Definitions

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.

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.