MainStay Epoch U.S. All Cap Fund

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Investment
Subadvisor

 

Founded in April 2004 by experienced professionals, Epoch Investment Partners is a global asset management firm providing investment management services to investment companies, pension and profit-sharing plans, other institutional clients, and high net worth individuals.

Portfolio Managers

  • David N. Pearl
  • Fund's Manager:
    Since 2009

    Industry Experience:
    30 years

  • Michael A.
    Welhoelter, CFA
  • Fund's Manager:
    Since Inception

    Industry Experience:
    28 years

  • William W. Priest, CFA
  • Fund's Manager:
    Since Inception

    Industry Experience:
    49 years

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

Fund Objective: Seeks long-term capital appreciation.

  • Investment Strategy and Process
    The Fund normally invests at least 80% of its net assets in equity securities of U.S. companies across all market capitalizations, and may also invest up to 15% of its net assets in the securities of issuers located outside the United States.

    The Subadvisor invests primarily in companies that generate increasing levels of free cash flow and have managements that use it to create returns for shareholders.

    The Subadvisor invests in businesses it thoroughly understands and where it has confidence in the company's management and financial strength. They seek businesses that generate free cash flow, and securities that have unrecognized potential, yet possess a combination of above-average free cash flow growth and/or below-average valuation.

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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: 1.15%, INV: 1.57%, B: 2.32%, C: 2.32%, I: 0.90%.

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.

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. Mid-capitalization companies are generally less established and their stocks may be more volatile and less liquid than the securities of larger companies. Stocks of small companies may be subject to higher price volatility, significantly lower trading volumes, and greater spreads between bid and ask prices, than stocks of larger companies. Small companies may be more vulnerable to adverse business or market developments than mid- or large-capitalization companies. Issuers of convertible securities may not be as financially strong as those issuing securities with higher credit ratings and may be more vulnerable to changes in the economy. 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.

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, B, and C shares includes the historical performance of Class I shares from inception (1/2/91) through 12/31/03 adjusted to reflect the applicable sales charge (or CDSC) and fees and expenses. 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. Effective 6/29/09, the Fund's investment objective, principal investment strategy, and investment process were changed.

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 Russell 3000® Index is an unmanaged index that measures the performance of the 3,000 largest U.S. companies representing approximately 98% of the investable U.S. equity market. 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.