MainStay Short Term Bond Fund

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Fixed Income Investors is a division of NYL Investors LLC, a wholly owned subsidiary of New York Life Insurance Company, with demonstrated expertise and scale in every major fixed-income sector employing a disciplined, team-oriented approach to managing fixed-income portfolios for clients in the institutional, retail, and CDO/CLO markets.

Portfolio Managers

  • Kenneth Sommer
  • Fund's Manager:
    Since 2017

    Industry Experience:
    15 years

  • A.J. Rzad, CFA
  • Fund's Manager:
    Since 2018

    Industry Experience:
    25 years

Fund Objective: Seeks current income consistent with preservation of capital.

  • Higher risk-adjusted returns
    Through active management, the Team maintains a flexible approach and opportunistically allocates across sectors and issuers to pursue attractive yields while mitigating volatility.

    Capital preservation
    The Team employs a conservative investment philosophy that applies a long term view to bottom-up fundamental research.

    Depth and breadth of experience
    The Team is able to leverage the deep resources and cross-functional structure of New York Life Fixed Income Investors.

Class A & INV: 3% maximum initial sales charge; a 1% CDSC may be imposed on certain redemptions made within 18 months of the date of purchase on shares that were purchased without an initial sales charge. Class I: No initial sales charge or CDSC.

See the prospectus and/or Fees & Expenses tab above for Total Annual Fund Operating Expenses (including Waivers/Reimbursements if applicable).

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 reflect a contractual fee waiver and/or expense limitation agreement, 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 considering an investment in the Fund, you should understand that you could lose money.

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. Investments in high-yield securities or non-investment grade securities (commonly referred to as "junk bonds") are considered speculative because they present a greater risk of loss than higher quality securities. The Fund may invest in derivatives, which may increase the volatility of the Fund’s NAV. The principal risk of mortgage dollar rolls is that the security the Fund receives at the end of the transaction may be worth less than the security the Fund sold to the same counterparty at the beginning of the transaction. 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. Distressed securities are speculative and involve substantial risk that principal will not be repaid.

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 Class A 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 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.

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, MainStay Tax Free Bond Fund, MainStay Floating Rate Fund, MainStay Short Duration High Yield Fund, and MainStay MacKay U.S. Infrastructure Bond Fund). For purchases of Class A and Investor Class shares of each MainStay Fund made without an initial sales charge on or after August 1, 2017, a contingent deferred sales charge of 1.00% may be imposed on certain redemptions made within 18 months of the date of purchase.

5. Percentages are based on fixed-income securities held in the Fund's investment portfolio and exclude any equity or convertible securities and cash or cash equivalents. Ratings apply to the underlying portfolio of debt securities held by the Fund and are rated by an independent rating agency, such as Standard and Poor's, Moody's, and/or Fitch. If ratings are provided by the rating agencies, but differ, the lower rating will be utilized. If only one rating is provided, the available rating will be utilized. Securities that are unrated by the rating agencies are reflected as such in the breakdown. Unrated securities do not necessarily indicate low quality.

Investment Definitions

The Bloomberg Barclays 1-3 Year U.S. Government/Credit Bond Index is an unmanaged index comprised of investment grade, U.S. dollar denominated, fixed-rate Treasuries, government-related and corporate securities, with maturities of one to three years.