MainStay MAP Fund

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Investment
Subadvisor

 

Including its predecessor firm, Markston has managed investments since 1981 for mutual fund shareholders, institutional investors, and private clients.

Portfolio Managers

  • Roger Lob
  • Fund's Manager:
    Since 1987

    Industry Experience:
    33 years

  • Christopher Mullarkey
  • Fund's Manager:
    Since 2002

    Industry Experience:
    24 years

  • James Mulvey
  • Fund's Manager:
    Since 2013

    Industry Experience:
    20 years

Investment
Subadvisor

 

Institutional Capital LLC is an affiliate of New York Life Investment Management LLC. Founded in 1970 as an institutional investment firm dedicated to the unique needs of institutional investors, ICAP currently manages assets for some of the world's largest and most respected corporations and institutions.

Portfolio Managers

  • Thomas M. Cole, CFA
  • Fund's Manager:
    Since 2012

    Industry Experience:
    31 years

  • Andrew P. Starr, CFA
  • Fund's Manager:
    Since 2014

    Industry Experience:
    22 years

  • Matthew T. Swanson, CFA
  • Fund's Manager:
    Since 2014

    Industry Experience:
    17 years

  • J. Christian Kirtley, CFA
  • Fund's Manager:
    Since 2015

    Industry Experience:
    13 years

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

Fund Objective: Seeks long-term appreciation of capital.

  • Investment Strategy and Process
    The Fund normally invests at least 65% of its total assets in equity-type securities, including common stocks, and securities convertible into, or exchangeable for, common stocks, across all market capitalizations. The Fund primarily invests in domestic securities but may invest up to 35% of its net assets in foreign securities, which are generally securities issued by companies organized outside the U.S. and traded primarily in markets outside the U.S.

    The Fund combines the expertise of two, complementary, institutional investment boutiques. Both teams look to uncover companies that they believe are undervalued and possess clear catalysts for price appreciation. Stock-specific catalysts include: management changes, company restructuring, problem fixing, new product launches, and/or pricing flexibility. Both investment teams’ research efforts result in a broadly diversified and well managed core equity strategy. This strategy has the flexibility to invest across various market capitalizations and style characteristics with the end result being a portfolio of approximately 120-150 of the teams’ best stock ideas.

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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. Class R1 & R2: No initial sales charge or CDSC, available only through corporate-sponsored retirement programs, which include certain minimum program requirements. Total annual operating expenses are: Class A: 1.11%, INV: 1.25%, B: 2.00%, C: 2.00%, I: 0.86%, R1: 0.96%, R2: 1.21%, R3: 1.46%.

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. 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. Issuers of convertible securities may not be as financially strong as those issuing securities with higher credit ratings and are more vulnerable to economic changes. 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.

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 6/9/99, MAP-Equity Fund was reorganized as MainStay MAP Fund Class I shares. Performance for MainStay MAP Fund Class I shares includes the performance of MAP-Equity Fund from inception (1/21/71) through 6/8/99. Prior to the reorganization, shares of MAP-Equity Fund were subject to a maximum 4.75% sales charge, and the deduction of those sales charges is reflected in the Class I share performance shown. Performance for Investor Class shares includes the historical performance of Class A shares from inception (6/9/99) through 2/27/08 adjusted to reflect the applicable 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), 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.

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.