MainStay Cornerstone Growth Fund

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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 Managers

  • Andrew Ver Planck, CFA
  • Fund's Manager:
    Since 2016

    Industry Experience:
    17 years

  • Migene Kim, CFA
  • Fund's Manager:
    Since 2016

    Industry Experience:
    22 years

Video Highlights

Cornerstone 2016 Insights
Click here to watch

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

Fund Objective: Seeks long-term growth of capital.

  • Large-cap growth focus
    Primarily invests in U.S. large-cap growth companies that are priced attractively based on factors such as valuation, quality and sentiment.

  • Broad diversification
    The fund seeks to construct a broadly-diversified portfolio across sectors and industries.

  • Experienced risk managers
    The team seeks to control the Fund's risk exposure through its disciplined investment process and by diversifying over a large number of securities.

Class A & INV: 5.5% maximum initial sales charge; a 1% CDSC may be imposed on certain redemptions made within 18 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: 1.01%, INV: 1.18%, B: 1.93%, C: 1.93%, I: 0.76%. Total annual operating expenses after recoupments/waivers/reimbursements are: Class I:0.61%.

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.

Style Box

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

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. Foreign securities can be subject to greater risks than U.S. investments, including currency fluctuations, less liquid trading markets, greater price volatility, political 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. By concentrating in a smaller number of investments, the Fund’s risk is increased because each investment has a greater effect on the Fund’s performance. 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. Effective 1/11/13, Keystone Large Cap Growth Fund was reorganized with and into MainStay Cornerstone Growth Fund. Performance figures for Class 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, and Investor Class shares includes the historical performance of Class A shares from inception (8/7/06) through 1/14/13 adjusted to reflect differences in 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 1000® Growth Index is an unmanaged index that measures the performance of those Russell 1000 companies with higher price-to-book ratios and higher forecasted growth values. 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.

Video Disclosure

The opinions expressed are those of Cornerstone Capital Management as of the date of this video and are subject to change. This is no guarantee that any forecast made will come to pass. This material does not constitute investment advice and is not intended as an endorsement of any specific investment. Cornerstone Capital Management LLC is an affiliate of Cornerstone Capital Management Holdings LLC, a wholly owned subsidiary of New York Life Investment Management Holdings LLC.

There can be no guarantee that investment objectives will be met.