MainStay Emerging Markets Opportunities Fund

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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 Managers

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

    Industry Experience:
    16 years

  • Jeremy Roethel
  • Fund's Manager:
    Since Inception

    Industry Experience:
    14 years

Video Highlights

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

Fund Objective: Seeks long-term growth of capital.

  • Investment Strategy and Process
    Normally, the Fund invests at least 80% of its assets in equity securities issued by entities in, or tied economically to, emerging markets without regard to market capitalization, including smaller companies.

    The Fund will generally hold long positions, either directly or through derivatives, which may total up to 140% of net assets, and short positions, either directly or through derivatives, which may total 40% of net assets. The proceeds of the short sales may be used to purchase all or a portion of the additional long positions.

    The types of derivatives in which the Fund may invest includes swaps, futures, forwards, and options.

    The portfolio management team seeks to construct a broadly diversified portfolio across countries, sectors, and industries using quantitative analysis to identify undervalued securities that the Subadvisor believes have a high probability of providing total returns greater than the MSCI Emerging Markets Index.1

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Class A & INV: 5.5% maximum initial sales charge. Class C: 1% CDSC if redeemed within one year. Class I: No initial sales charge or CDSC. Total annual operating expenses are: Class A: 1.96%, INV: 2.20%, C: 2.95%, I: 1.71%. Total annual fund operating expenses after recoupments/ waivers/reimbursements are: Class A: 1.70%, INV: 1.94%, C: 2.69%, I: 1.45%.

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 reflect a contractual fee waiver and/or expense limitation agreement in effect through 2/28/16, without which total returns may have been lower. This agreement 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 Board. There is also a voluntary fee waiver and/or expense limitation for Class C and Investor Class shares, which may be discontinued at any time without notice.

Before You Invest

Investments in foreign securities may be riskier than investments in U.S. securities. Differences between U.S. and foreign regulatory regimes and securities markets, including less stringent investor protections and disclosure standards of some foreign markets, less liquid trading markets and political and economic developments in foreign countries, may affect the value of the Fund's investments in foreign securities. Foreign securities may also subject the Fund's investments to changes in currency rates. These risks may be greater with respect to securities of companies that conduct their business activities in emerging markets or whose securities are traded principally in emerging markets.

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. 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 ($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), 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 MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets. The MSCI Emerging Markets Index consists of the following 21 emerging market country indices: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Morocco, Peru, Philippines, Poland, Russia, South Africa, Taiwan, Thailand, and Turkey. 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.

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.