MainStay Retirement 2030 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 to maximize total return over time consistent with its current investment allocation. Total return is defined as both long-term growth of capital and current income.

  • Investment Strategy and Process
    MainStay Retirement 2030 Fund is designed for an investor who is seeking to retire between the years 2026 and 2035, and who plans to withdraw the value of the account in the Fund gradually after retirement.

    The Manager for MainStay Retirement Funds maintains broad asset-class allocations while basing the Funds’ desired sub-asset class allocations on their current view and outlook for the markets. Asset class weightings are dictated by the glide path so as to ensure prudent diversification over time.

    The glide path includes target allocations for multiple sectors within U.S. and international equity and fixed-income asset categories. The Manager seeks to improve returns by actively controlling the current allocation within those asset categories, based on the number of years before or after the assumed retirement target date. This approach to allocation is dynamic rather than the more typical static allocation approach used by other target date providers.

    The Manager uses a two-step asset allocation process to create the Fund’s portfolio:

    • The first step is a strategic asset allocation to determine the percentage of the Fund’s portfolio to be invested in underlying Funds in two broad asset classes: equity and fixed income.
    • The second step involves the actual selection of underlying Funds to represent the two broad asset classes and the determination of target weightings among the underlying Funds.
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Class A & INV: 5.5% maximum initial sales charge. Class I: No initial sales charge or CDSC, generally available to corporate & institutional INVs with a minimum initial investment of $5 million. Class R1, R2, R3: 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: 1.32%, INV: 1.54%, I: 1.07%, R1: 1.17%, R2: 1.42%, R3: 1.67%. Total annual operating expenses after recoupments/waivers/reimbursements are: Class A: 1.08%, INV: 1.18%, I: 0.83%, R1: 0.93%, R2: 1.18%, R3: 1.43%.

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.

Before You Invest

The target date in a target date fund is the approximate date an investor plans to start withdrawing money. Target date funds are managed to specific retirement dates, and investors may be taking on greater risk if the actual year of retirement differs dramatically from the original estimated date. The investment allocations of these funds evolve over time and are designed to grow more conservative as each fund nears its target retirement date. While diversification and shifting to a more conservative investment mix over time help to manage risk, it does not guarantee earnings growth, nor is the fund's principal value guaranteed at any time, including at the target date. There is the potential to lose money in any investment program. Investors do not have the ability to actively manage the investments within target date funds. The portfolio managers control strategic asset allocation and selection of the underlying funds.

Target date funds have different levels of risk depending on the investment allocation in the underlying funds. A fund with a longer time horizon to its target retirement date is likely to invest a greater portion of its assets in underlying funds that invest in equity securities and generally is more likely to experience the risks associated with equity securities than the risks associated with fixed-income securities. On the other hand, as a fund approaches its target retirement date, it is more likely to invest a greater portion of its assets in underlying funds that invest in fixed-income securities and is more likely to experience the risks associated with fixed-income securities than the risks associated with equity securities.

The Fund may, from time to time, invest more than 25% of its assets in one underlying fund. Changes in the value of the underlying funds may have a significant effect on the net asset value of the Fund. Investing more than 25% of its assets in a single industry or economic sector may also adversely impact a Fund.

Fixed-Income Securities Risk

  • Credit Risk
  • Foreign Securities Risk
  • Interest-Rate Risk
  • High Portfolio Turnover
  • High-Yield Bond Risk
  • Liquidity Risk
  • Market Risk
  • Maturity Risk
  • Mortgage- and Asset-Backed Security Risk

U.S. and International Equity Securities Risk

  • Foreign Securities Risk
  • Growth Securities Risk
  • High Portfolio Turnover
  • Leverage Risk
  • Market Risk
  • REIT Risk
  • Short Sales Risk
  • Smaller Company Risk
  • Value Securities Risk

Please consult the prospectus for a description of these principal risks and other risks associated with the underlying funds.

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.

The Fund normally will invest in affiliated underlying funds, and may also invest in unaffiliated underlying funds in order to gain exposure to asset classes not currently offered in the MainStay Family of Funds. New York Life Investment Management LLC, the Manager of the Fund, may be subject to potential conflicts of interest in selecting the underlying funds because the fees paid to it and its affiliates by some underlying funds are higher than the fees paid by other underlying funds. Similarly, the portfolio managers may have an incentive to select certain underlying funds due to compensation considerations. However, the Manager and portfolio managers have a fiduciary duty to the Fund to act in its best interest when selecting underlying funds, and the Board of Directors of the Fund oversees the Manager’s performance.

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. Performance for Investor Class shares includes the historical performance of Class A shares from inception (6/29/07) 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 ($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.