MainStay Large Cap Growth Fund

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Subadvisor

 

Founded in 1992, Winslow Capital Management, Inc. is an equity-only manager with a disciplined investment process applied to growth stocks. Winslow Capital currently manages approximately $34.9 billion in assets for mutual fund shareholders, institutional and corporate investors, and SMA and UMA platforms for multiple sponsors.

Portfolio Managers

  • Justin H. Kelly, CFA
  • Fund's Manager:
    Since 1999

    Industry Experience:
    24 years

  • Patrick M. Burton, CFA
  • Fund's Manager:
    Since 2013

    Industry Experience:
    33 years

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

Fund Objective: Seeks long-term growth of capital.

  • No preferred habitat
    The team looks to diversify holdings across three distinct, yet complementary, types of earnings growth to participate in different market cycles.

  • Differentiated risk process
    Winslow's "No Preferred Habitat" approach seeks broad diversification and may help manage risk by not being overexposed to any one area of the market.

  • Highly specialized growth equity manager
    Winslow specializes in growth equity investing. Winslow's portfolio management team has over 100 years of investment experience.

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: 1.00%, INV : 1.06%, B: 1.81%, C: 1.81%, I: 0.75%, R1: 0.85%, R2: 1.10%.%, R3: 1.35%, R6: 0.63%. Total annual operating expenses after recoupments/waivers/reimbursements are: Class A: 0.99%, INV : 1.05%, B: 1.8%, C: 1.8%, I: 0.74%, R1: 0.84%, R2: 1.09%.%, R3: 1.34%, R6: 0.62%.

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. Performance figures shares reflect a contractual fee waiver and/or expense limitation and management fee waiver agreements in effect through 3/1/18, 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.

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

Typically, the Subadvisor intends to invest substantially all of the Fund’s investable assets in domestic securities. However, the Fund is permitted to invest up to 20% of its net assets in foreign securities. 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 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 in 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 include the change in share price and reinvestment of dividends and capital gain distributions. On 4/1/05, FMI Winslow Growth Fund was reorganized as MainStay Large Cap Growth Fund Class A shares. Performance for MainStay Large Cap Growth Fund Class A shares includes the historical performance of FMI Winslow Growth Fund from inception (7/1/95) through 3/31/05 adjusted to reflect the applicable sales charge and fees and expenses. Performance for Class B, C, I and Investor Class shares includes the historical performance of Class A shares from inception (7/1/95) through 3/31/05 for Class B, C, and I shares, and through 2/27/08 for Investor Class shares, adjusted to reflect the sales charge (or CDSC) and 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.