Cornerstone Capital Management adds Portfolio Manager, Senior Analyst to Quantitative Equity Team

New York, May 28, 2014 – Cornerstone Capital Management ("Cornerstone"), a global institutional advisory firm, today announced the hires of Vice President and Portfolio Manager Didier Rosenfeld, CFA, and Vice President and Senior Analyst, Gaurav Gupta, CFA, to the New York-based Quantitative Team.

Mr. Rosenfeld joins Cornerstone from Boston-based State Street Global Advisors (SSgA) where, as a managing director, he was responsible for the firm's Europe, Australasia and Far East Global Equity Strategies. Mr. Rosenfeld spent over 13 years at SSgA where he was part of the Senior Management Group and a voting member of the Technical Committee that reviewed all model changes across all asset classes. Mr. Rosenfeld holds an MBA from Northeastern University and a Master of Management degree from the NOEMA Business School in France.

Mr. Gupta joins Cornerstone from New York-based Sanford C. Bernstein, where he was a vice president on the quantitative research team. First joining the firm in 2006, Mr. Gupta's research was primarily focused on international stock selection and portfolio construction in light of the changing macroeconomic conditions, sector rotation, high yield investing, and factor rotation. Previously, Mr. Gupta held positions at Charles River Associates and Deloitte Consulting. Mr. Gupta holds a Master of Science in Finance from Boston College and a Bachelor of Technology in Electrical Engineering from the Indian Institute of Technology in Bombay.

"Our quantitative team takes pride in how we differentiate ourselves from our peers and with the addition of Didier and Guarav, we continue to strengthen our team of managers and analysts who can expertly enhance and deliver strategic equity and liquid alternative solutions," said Andrew Ver Planck, lead portfolio manager and head of Quantitative Equity Strategies. "Didier and Guarav will be integral members of our team of investment veterans as we combine research and in-depth awareness of global trends with prudent stock selection and portfolio construction across our platform. We warmly welcome Didier and Gaurav to the team."

The Quantitative Team manages $4.6 billion in assets for institutional and retail investors as of March 31, 2014. The team is the sub-advisor to MainStay International Opportunities Fund, MainStay US Equity Opportunities Fund, MainStay Common Stock Fund and MainStay Emerging Markets Opportunities Fund.

About Cornerstone Capital Management

Cornerstone Capital Management is the marketing name for the asset management activities of Cornerstone Capital Management LLC and Cornerstone Capital Management Holdings LLC, registered investment advisers based in Minneapolis and New York. Cornerstone Capital Management is affiliated with the Investments Group of New York Life Insurance Company, a Fortune 100 company and one of the largest life insurers in the world.1 The firm currently manages $15.7 billion in assets as of March 31, 2014.

1. Based on revenue as reported by "Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual)," Fortune magazine, May 20, 2013. See http://money.cnn.com/magazines/fortune/fortune500/2013/faq/?iid=F500_sp_method for methodology.

About MainStay Investments

With over $100 billion in assets under management as of April 30, 2014 across retail mutual funds and variable product sub-accounts, MainStay Investments is the mutual fund distribution arm of New York Life. MainStay provides financial advisors access to a powerful mix of autonomous, institutional investment managers, delivered by people who understand the needs of today's financial advisor. As an indirect subsidiary of New York Life Insurance Company, a Fortune 100 company founded in 1845, MainStay is owned by the largest mutual life insurance company in the United States and one of the largest life insurers in the world. Please visit MainStay's website at www.mainstayinvestments.com for more information.

For more information about MainStay Funds®, call 800-MAINSTAY (624-6782) for a prospectus or summary prospectus. Investors are asked to consider the investment objectives, risks, and charges and expenses of the investment carefully before investing. The prospectus or summary prospectus contains this and other information about the investment company. Please read the prospectus or summary prospectus carefully before investing.

The MainStay Funds® are managed by New York Life Investment Management LLC and distributed by NYLIFE Distributors LLC, 169 Lackawanna Avenue, Parsippany, NJ 07054, a wholly owned subsidiary of New York Life Insurance Company. NYLIFE Distributors LLC is a Member FINRA/SIPC.

MainStay Investments® is a registered service mark and name under which New York Life Investment Management LLC does business. MainStay Investments, an indirect subsidiary of New York Life Insurance Company, New York, NY 10010, provides investment advisory products and services.

Media Contact

Jacqueline Meere
New York Life Insurance Company
+1.212.576.5301
+1.646.468.0020
jacqueline_meere@newyorklife.com

Alexandra Meredith
Sloane & Company
+1.212.446.1887
ameredith@sloanepr.com