MainStay Moderate Growth Allocation Fund

Fund Finder

Investment
Subadvisor

New York Life Investment Management LLC serves as the Fund’s Manager and provides the day-to-day portfolio management services for the Fund. The Manager uses the New York Life Multi-Asset Solutions Group to manage the Fund's investments.

Portfolio Managers

  • Jae Yoon, CFA
  • Fund's Manager:
    Since 2011

    Industry Experience:
    24 years

  • Jonathan Swaney
  • Fund's Manager:
    Since Inception

    Industry Experience:
    21 years

  • Poul Kristensen, CFA
  • Fund's Manager:
    Since 2013

    Industry Experience:
    11 years

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

Fund Objective: Seeks long-term growth of capital and, secondarily, current income.

  • Investment Strategy and Process
    The Fund is a "fund of funds" that invests in shares of other mutual funds within the MainStay Family of Funds (the Underlying Funds).

    The Fund seeks to achieve its investment objective by normally investing approximately 20% (within a range of 10%–30%) of its assets in Underlying Fixed-Income Funds, and approximately 80% (within a range of 70%–90%) of its assets in Underlying Equity Funds. The portfolio's equity component may consist of approximately 15% (within a range of 5%–25%) of international equity funds.

    The Fund's fixed-income component may include a money-market component. For cash management purposes, the Fund may hold a portion of its assets directly in U.S. government securities, money market funds, cash, or cash equivalents.

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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, generally available to corporate & institutional INVs with a minimum initial investment of $5 million. Total annual operating expenses including the expenses of the underlying funds in which the Fund invests are: Class A: 1.54%, INV: 1.72%, B: 2.47%, C: 2.47%, I: 1.29%.

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 2/28/15, 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
Before You Invest

The Fund's performance depends on the Subadvisor's skill in determining the asset class allocations and the mix of underlying MainStay Funds, as well as the performance of those underlying Funds. The underlying Funds' performance may be lower than the performance of the asset class which they were selected to represent. The Fund is indirectly subject to the investment risks of each underlying Fund held. The Fund may invest more than 25% of its assets in one underlying Fund, which may significantly affect the net asset value of the Fund.

  • 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, a 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. High-yield securities carry higher risks and some of the Fund's investments have speculative characteristics and present a greater risk of loss than higher-quality debt securities. These securities can also be subject to greater price volatility.
  • Stocks of mid-cap companies may be more volatile and less liquid than the securities of larger companies. Stocks of small companies may be subject to higher price volatility, be more vulnerable to adverse business or market developments, and may have more limited product lines than large capitalization stocks.
  • The underlying Funds may experience a portfolio turnover rate of over 100% and may generate short-term capital gains which are taxable. Liquidity risk is the risk that certain securities may be difficult or impossible to sell at the time that the seller would like or at the price that the seller believes the security is currently worth.
  • 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.
  • Fixed-income funds with longer maturities are subject to greater volatility than those with shorter maturities. Funds that invest in bonds are subject to interest-rate risk and can lose principal value when interest rates rise. Bonds are also subject to credit risk, in which the bond issuer may fail to pay interest and principal in a timely manner.
  • The principal risk of mortgage-related and asset-backed securities is that the underlying debt may be prepaid ahead of schedule, if interest rates fall, thereby reducing the value of the fund's investment. If interest rates rise, less of the debt may be prepaid and the fund may lose money.
  • Floating rate funds are generally considered to have speculative characteristics that involve the risk of default on principal and interest and the risks associated with collateral impairment, non-diversification, borrower industry concentration, and limited liquidity.
  • An investment in a money market fund is not insured or guaranteed by the FDIC or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund.
About Fees and Expenses 

The term “fund of funds” is used to describe mutual funds that pursue their investment objectives by investing in other mutual funds. By investing in the Fund, you will indirectly bear fees and expenses charged by the underlying Funds in which the Fund invests in addition to the Fund’s direct fees and expenses. Your cost of investing in the Fund, therefore, may be higher than the cost of investing in a mutual fund that invests directly in individual stocks and bonds. Additionally, the use of a fund-of-funds structure could affect the timing, amount, and character of distributions to you and therefore may increase the amount of taxes payable by you. You should consult your tax and financial professionals regarding these matters.

 

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 Investor Class shares includes the historical performance of Class A shares from inception (4/4/05) through 2/27/08 adjusted to reflect the applicable fees and expenses. 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 ($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 S&P 500® Index is an unmanaged index and is widely regarded as the standard for measuring large-cap U.S. stock-market performance.

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.