Harvey Steele Named 2017 Rising Star of Mutual Funds
NEW YORK, April 3, 2017 – New York Life Investment Management (NYLIM) today announced that Harvey P. Steele III, Head of Retail Distribution for MainStay Investments and IndexIQ, has been named a 2017 Rising Star of Mutual Funds by Fund Action and Fund Directions, as part of the publications' 24th Mutual Fund Industry Awards.
The Rising Star Award is bestowed on "self-starters who've risen quickly to further the development of their company or institution and/or advance the industry as a whole," Fund Action and Fund Directions report.
"We offer well-deserved congratulations to Harvey Steele for being part of this year’s illustrious class of Rising Stars," said Stephen Fisher, President of New York Life Investment Management (NYLIM) and MainStay Investments. "It is a tremendous recognition of the level of professionalism and excellence Harvey brings to the team – not to mention the remarkable achievement for MainStay and IndexIQ to be recognized alongside some of the best and brightest of our peers. We couldn’t be more thrilled to have one of our own attain this honor."
"We are very proud of Harvey and his contributions to our award-winning family of mutual funds and ETFs," said Adam Patti, CEO of IndexIQ. "Harvey has made significant contributions to our firm and has been instrumental in advancing our goal of providing a broad suite of high quality solutions across both ETFs and mutual funds designed to help advisors deliver on their clients’ long term investment goals."
Rising Star Award winners are selected based on the following criteria:
- Leadership in profession, firm and/or industry;
- Outstanding contributions to innovations, product development, client service, sales and/or growth in assets or returns;
- Recognition by the firm and/or industry groups;
- Active contribution to the broader mutual fund community;
- Spending fewer than 15 years working in the mutual fund industry; and
- Other quantifiable contributions to profession, firm, clients and/or industry.
Mr. Steele is Head of Retail Distribution for MainStay Investments and IndexIQ, the mutual fund and ETF distribution arm of New York Life Insurance Company with approximately $80 billion in assets under management.
Steele has been with NYLIM since 2007. Prior to his role as national sales manager, Steele led sales initiatives and business growth strategies for the Independent and Registered Investment Advisor (RIA) channels. As head of the Independent and RIA channels, he was instrumental in the tremendous growth and expansion that occurred over the past five years. Prior to joining NYLIM, Steele held positions in regional marketing at Cohen & Steers Capital Management. He started his career as an Internal Wholesaler at Lord Abbett & Co. He holds a Bachelor of Arts Degree in Economics from Albion College and Series 7, 24, and 66 licenses.
About MainStay Investments
With $78 billion in assets under management as of December 31, 2016, across retail mutual funds, exchange traded funds (ETFs) and variable product sub-accounts, MainStay Investments is the mutual fund and ETF distribution arm of New York Life Insurance Company. MainStay provides access to a powerful mix of autonomous, institutional investment managers, delivered by experienced professionals who understand the needs of today's investors. For more information on MainStay Investments, please visit mainstayinvestments.com. For additional MainStay thought leadership, please visit our blog.
MainStay Investments® is a registered service mark and name under which New York Life Investment Management LLC conducts business.
IndexIQ is a pioneer and leading provider of innovative investment solutions focused on absolute return, real assets, and international and fixed income strategies. IndexIQ's solutions are offered as ETFs, mutual funds, separately managed accounts, and ETF model portfolios. The company's philosophy is to democratize investment management by providing all investors with cost-effective access to the types of high-quality, sophisticated investment products that typically have been reserved for institutional and ultra high-net-worth investors. IndexIQ's mission is to take indexing to the next level by combining the best attributes of both passive and active investing, and make strategies available to investors in low cost, liquid, and transparent products.1 IndexIQ is an indirect, wholly-owned subsidiary of New York Life Insurance Company.
Additional information about IndexIQ and its products can be found at IQetfs.com.
About New York Life
New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States2 and one of the largest life insurers in the world. New York Life has the highest possible financial strength ratings currently awarded to any life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch (AAA), Moody's Investors Service (Aaa), Standard & Poor’s (AA+).3 Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Investments4 provides institutional asset management. Other New York Life affiliates provide an array of securities products and services, as well as retail mutual funds. Please visit New York Life’s website at www.newyorklife.com for more information.
1. The nature of IndexIQ's products allows for these potential benefits, which typically are not associated with traditional hedge funds.
2. Based on revenue as reported by "Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual)," Fortune magazine, 6/17/16. For methodology, please see fortune.com/fortune500/
3. Individual independent rating agency commentary as of 8/9/16.
4. 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.