New York Life Investments Brings Candriam Investors Group’s Emerging Markets Equity Capabilities to US Mutual Fund Investors
NEW YORK—November 15, 2017 – Seeking to provide investors with new ways to access the strong economies and growth opportunities in emerging markets, New York Life Investments today launched the MainStay Candriam Emerging Markets Equity Fund (Institutional Class: MCYIX and Class A: MCYAX). The Fund will seek long-term growth through investments in equity securities of attractively-valued companies with strong sustainable growth and profitability, and that are located or economically tied to emerging markets.
The Fund will be managed by Candriam Investors Group, a leading Pan-European asset manager and a subsidiary of New York Life Investments. Candriam will manage the Fund in a substantially similar manner to Candriam’s acclaimed and successful Emerging Markets Equity strategy in Europe. The investment team includes Jan Boudewijns, Philip Screve and Mohamed Lamine Saidi, who collectively bring decades of fundamental investment experience across the emerging markets.
This Fund complements the MainStay Emerging Markets Equity Fund, a quantitatively managed strategy, which seeks long-term growth of capital via a broadly diversified portfolio.
Jan Boudewijns, Head of Emerging Equity Management at Candriam, said: “With volatility at historically low levels and corporate valuations remaining reasonable across developing regions, we see considerable long-term value opportunities within emerging-market equities. This new Fund brings our time-tested investment approach and global capabilities to financial advisors and investors in the United States.”
Kirk Lehneis, Chief Operating Officer at New York Life Investment Management, said: “This new fund reflects a core strength of our multi-boutique model, which allows us to offer investors access to high quality investment specialists across core asset classes. Candriam Investors Group brings a wealth of experience in accessing emerging market opportunities, and our investors seeking a fundamental, bottom-up approach will be well-positioned to benefit from their expertise and global perspective.”
About New York Life Investments
New York Life Investments, the global asset management business of New York Life, manages approximately $549 billion in assets under management as of September 30, 2017. Its global business comprises its market-leading position in the United States, with a presence in Europe, Australia, Asia, the Middle East and Latin America. Through its investment boutiques, New York Life Investments offers a diversified range of investment solutions to its clients, including fixed income, equity, and alternative strategies. New York Life Investments ranks 26th among the world’s largest money managers.
Candriam Investors Group ("Candriam") is a leading pan-European multi-specialist asset manager with a 20-year track record and a team of more than 500 experienced professionals.
Managing $131.2 billion in assets as of September 30, 2017, Candriam has established management centres in Luxembourg, Brussels, Paris and London, and has experienced client relationship managers covering Continental Europe, the UK, the USA, the Middle East and Asia-Pacific. Its investment solutions cover five key areas: fixed income, equities, absolute return strategies, sustainable investments and advanced asset allocation. Through investment solutions driven by strong convictions, Candriam has earned a reputation for delivering innovation and strong performance to a long-standing, diversified client base in over 20 countries.
Candriam Investors Group is a New York Life Company. New York Life Investments¹ ranks among the world's largest asset managers².
All mutual funds are subject to market risk, including possible loss of principal. Before considering an investment in the Fund, you should understand that you could lose money.
Foreign securities are subject to interest rate, currency exchange rate, economic, and political risks. The risks of investing in emerging markets include the risks of illiquidity, increased price volatility, smaller market capitalizations, less government regulation, less extensive and less frequent accounting, financial and other reporting requirements, risk of loss resulting from problems in share registration and custody, substantial economic and political disruptions, and the nationalization of foreign deposits or assets.
Investing in smaller companies involves special risks, including higher volatility and lower liquidity. Investing in midcap stocks may carry more risk than investing in stocks of larger, more well-established companies. The Fund may invest in derivatives, which may increase the volatility of the Fund's NAV. The Fund may experience a portfolio turnover rate of over 100% and may generate short-term capital gains which are taxable. 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 which is the possibility that the bond issuer may fail to pay interest and principal in a timely manner.
The Fund as well as the issuers of the securities and other instruments in which the Fund invests are subject to considerable regulation and the risks associated with adverse changes in law and regulation governing their operations. In addition, regulatory authorities are in the process of adopting and implementing regulations governing derivatives markets, the ultimate impact of the regulations remains unclear and may adversely affect, among other things, the availability, value or performance of derivatives.
The Fund is a new fund which may result in additional risk. There can be no assurance that the Fund will grow to an economically viable size, in which case the Fund may cease operations. In such an event, investors may be required to liquidate or transfer their investments at an inopportune time.
There is no assurance that the Fund’s objectives will be met.
Before considering an investment in the Fund, your clients should understand that they could lose money. Diversification cannot assure a profit or protect against loss in a declining market. The investment strategies, practices, and risk analysis used by the subadvisor may not produce the desired results. Past performance of the subadvisor does not guarantee future results and current performance may be lower or higher than past performance.
Please exercise caution in relation to this document. This press release is not intended to identify all the risks associated with an investment in the fund presented. Additional information about investment risks is available in the prospectus of the Fund. No investment should be made based on this press release. Candriam Investors Group does not provide tax, insurance or legal advice.
The information contained herein is true as of the date above and is subject to change. Candriam Investors Group shall not be under any obligation to update this information.
The contents of this document have not been reviewed or endorsed by any regulatory authority, including the Securities and Exchange Commission (the “SEC”) and the Commodity Futures Trading Commission (the “CFTC”).
Please ask your clients to consider the investment objectives, risks, and charges and expenses of the Fund carefully before investing. The prospectus and summary prospectus contain this and other information about the Fund and can be obtained by contacting you, the financial professional. Instruct your clients to read the prospectus or summary prospectus carefully before investing.
¹ New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary New York Life Investment Management LLC. New York Life Investment Management LLC is a wholly-owned indirect subsidiary of New York Life Insurance Company.
²New York Life Investments ranked 26th among the world’s largest money managers within Pensions & Investments, May 29, 2017. Rankings are based on total worldwide institutional assets under management for the year-end 2016. New York Life Investments assets include assets of affiliated investment advisors.