MainStay Common Stock Fund

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Investment
Subadvisor

 

Founded in 1993, Cornerstone Capital Management 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 Managers

  • Migene Kim, CFA
  • Fund's Manager:
    Since 2007

    Industry Experience:
    18 years

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

    Industry Experience:
    13 years

  • Mona Patni
  • Fund's Manager:
    Since 2014

    Industry Experience:
    12 years

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

Fund Objective: Seeks long-term growth of capital.

  • Investment Strategy and Process
    The Fund normally invests at least 80% of its assets in common stocks, investing primarily in common stocks of U.S. companies with market capitalizations that, at the time of investment, are similar to companies in the S&P 500 Index and the Russell 1000 Index.

    The Fund seeks to construct a broadly diversified portfolio across sectors and industries using quantitative analysis to identify undervalued and overvalued securities.

    Using an objective, disciplined, and broadly applied process, the Subadvisor selects securities that it believes have the most potential to appreciate, while seeking to limit exposure to risk by diversifying the Fund’s portfolio over a large number of securities.

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Class A & INV: 5.5% maximum 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: 1.07%, INV: 1.48%, B: 2.23%, C: 2.23%, I: 0.82%, R2: 1.17%.

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 figures for Class B, C, and Investor Class shares reflect a voluntary fee waiver and/or expense limitation, which may be discontinued at any time without notice, and without which total returns may have been lower.

Style Box
Before You Invest

Growth stocks may be more volatile than other stocks because they are generally more sensitive to investor perceptions and market moves. During periods of growth stock underperformance, the Fund’s performance may suffer. 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. 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 include the change in share price and reinvestment of dividends and capital gain distributions. Performance for Class C shares includes the historical performance of Class B shares from inception (6/1/98) through 8/31/98 adjusted to reflect the applicable CDSC. Performance for Class I and Investor Class shares includes the historical performance of Class A shares from inception through 12/27/04 for Class I and through 2/27/08 for Investor Class shares adjusted to reflect the applicable fees and expenses. Class I shares are generally available only to corporate and institutional investors.

4. No sales charge applies to Class A and Investor Class share investments of $1,000,000 or more ($500,000 for MainStay Floating Rate, High Yield Municipal Bond, New York Tax Free Opportunities, Short Duration High Yield, and Tax Free Bond Funds), but a CDSC of 1% may be imposed on certain redemptions of such shares within one year (18 months for Mainstay Short Duration High Yield Fund) of the date of purchase.

Investment Definitions

The S&P 500® Index is an unmanaged index and is widely regarded as the standard for measuring large-cap U.S. stock-market performance. The Russell 1000® Index is an unmanaged index that measures the performance of the 1,000 largest companies in the Russell 3000® Index, which includes the 3,000 largest U.S. companies based on total market capitalization. Index results assume the reinvestment of all capital gain and dividend distributions. An investment cannot be made directly into an index

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.