MacKay Shields Named a Top Manager in Institutional Investor's 6th Annual U.S. Investment Management Awards
NEW YORK, May 15, 2015 – MacKay Shields LLC (“MacKay Shields”), a leading fixed income investment management firm, today announced that it has received a 2015 U.S. Investment Management Award from Institutional Investor magazine in the “Municipal Fixed Income” category. MacKay Shields was celebrated as an institutional investor “whose innovative strategies and fiduciary savvy resulted in impressive returns in 2014.”
MacKay Shields was chosen from among U.S. money managers in the Municipal Fixed Income category who “stood out in the eyes of the investor community for their exceptional performance, risk management and service.” This is the second consecutive Investment Management Award recognition for MacKay Shields, as the firm was recognized in the “Fixed Income High Yield” category in 2014.
“We’re honored that the MacKay Municipal Managers™ team has been recognized by the institutional investment community for its success delivering positive returns through credit research and active management,” said Jeffrey Phlegar, Chairman and Chief Executive Officer of MacKay Shields. “The municipal market has changed dramatically in recent years and investors face new challenges in moving away from ‘buy and hold’ portfolios and toward active management – a strategy the MacKay Municipal Managers team expertly delivers with flexibility to find value up and down the yield curve.”
John Loffredo and Bob DiMella, Co-Heads and Executive Managing Directors of the MacKay Shields Municipal Managers team, have managed municipal credit and portfolio strategies together for over 20 years. In that time, the team has developed deep experience and resources to identify opportunities in the municipal market through a research-driven process that emphasizes risk control in income-oriented investing.
“The municipal bond landscape today offers limited liquidity, reduced supply, higher transaction costs, and a greater need for full-time credit research. In that environment, we’re able to highlight municipal bonds that are desirable for income strategies and capital preservation,” said Loffredo.
“We’re thrilled to be recognized for our team’s strategy of managing risk and capitalizing on market inefficiencies to consistently build a yield advantage and generate attractive total returns for our clients,” added DiMella.
About the Award
Institutional Investor judged the award recipients’ investment strategies based on factors such as one-, three- and 5-year performance, Sharpe ratio, information ratio, standard deviation and upside market capture. Ultimately, more than 1,000 U.S. pension plans, foundations, endowments and other institutional investors were surveyed and asked to vote for up to three managers in each strategy in which they invest that demonstrated the best overall performance during the past year. Surveyed investors were permitted to write-in a manager that did not appear on the pre-populated short list. The editorial team of Institutional Investor LLC analyzes the results of the survey to determine the investment manager winners. For more information please visit: www.usinvestmentawards.com.
About MacKay Shields LLC
MacKay Shields LLC (“MacKay”) is a global, multi-product fixed income investment advisory firm managing approximately $91.2 billion assets under management as of March 31, 2015. Its clients include pension funds and other institutional investors in the U.S. and overseas. MacKay Shields is an indirect, wholly-owned subsidiary of New York Life Insurance Company. Please visit MacKay’s website at www.mackayshields.com for more information.
Receipt of this award is not indicative of future performance. No fees were paid by MacKay to be considered for the award.
For additional information, please contact:
New York Life Insurance Company
T: (212) 576-4517
C: (917) 242-5042
New York Life Insurance Company
T: (212) 576-5301
C: (917) 596-4553