Three MainStay Funds Win 2015 Lipper Fund Awards

Strong Risk-Adjusted Performance Across Multi-Boutique Investment Managers
MainStay Unconstrained Bond Fund Wins Lipper Fund Award for the Second Consecutive Year

NEW YORK, April 1, 2015 – MainStay Investments, a New York Life Company, today announced that three MainStay Funds have been recognized as 2015 Lipper Fund Award winners.

MainStay Unconstrained Bond Fund, MainStay Epoch Global Equity Yield Fund, and MainStay U.S. Equity Opportunities Fund were each recognized for their achievements based on their consistently strong, risk-adjusted three-year or five-year performance. MainStay Unconstrained Bond Fund received the Lipper Fund Award for the second consecutive year; last year it also won the U.S. Lipper Fund Award in the Alternative Credit Focus Funds category for the 3- and 5-year periods.

“We are incredibly honored that three individual MainStay Funds have been acknowledged by Lipper this year,” said Stephen Fisher, President of MainStay Investments. “These awards are a testament to the power of our multi-boutique model, which is committed to delivering a range of uniquely managed, innovative and consistently top-performing investment solutions.”

“We are very proud to accept these awards and thank our investment professionals for their hard work and commitment to excellence for our investors,” added Fisher.

MainStay Unconstrained Bond Fund (Class I: MSDIX) received the Lipper Fund Award in the Alternative Credit Focus Funds category based on performance history as of 11/30/14, for the 5-year period. The investment team is led by Dan Roberts, Head and CIO of MacKay Shields’ Global Fixed Income Team. The Fund provides a flexible investment process that allocates investments across the global fixed-income markets. For the period ended 2/28/15, Morningstar rated the Fund’s Class I shares five stars overall.

MainStay Epoch Global Equity Yield Fund (Class I: EPSYX) received the Lipper Fund Award in the Global Large-Cap Value Funds category based on performance history as of 11/30/14, for the 5-year period. The Shareholder Yield team is led by Eric Sappenfield, Managing Director, Portfolio Manager and Senior Research Analyst at Epoch Investment Partners. The architect of the strategy is William W. Priest, Epoch’s CEO and Co-CIO. The Fund generally invests in a diversified portfolio consisting of equity securities of companies located throughout the world, including the U.S., that have a history of attractive dividend yields and positive growth in operating cash flow. For the period ended 2/28/15, Morningstar rated the Fund’s Class I Shares five stars overall.

MainStay U.S. Equity Opportunities Fund (Class I: MYCIX) received the Lipper Fund Award in the Alternative Active Extension category, based on performance as of 11/30/14 for the 3-year period. The investment team is led by Andrew Ver Planck, CFA, Senior Vice President, Lead Portfolio Manager, Global Systematic Equity, Cornerstone Capital Management. The Fund applies a long/short approach for the delivery of long-term capital growth and invests in U.S. equity securities and common stocks of well-established large cap U.S. companies. For the period ended 2/28/15, Morningstar rated the Fund’s Class I shares five stars overall.

The Lipper Fund Awards are part of the Thomson Reuters Awards for Excellence, a global family of awards that celebrate exceptional performance throughout the professional investment community. The Thomson Reuters Awards for Excellence recognize the world’s top funds, fund management firms, sell-side firms, research analysts, and investor relations teams. For more information, please visit http://excellence.thomsonreuters.com/award/lipper

According to Lipper, the awards recognize funds for their consistently strong risk-adjusted performance relative to their peers, based on Lipper’s proprietary performance-based methodology. Those funds with the most consistent return within their classification were declared the winner over three, five, or 10 years. MainStay Unconstrained Bond Fund Class I shares received the Lipper Fund Award in the Alternative Credit Focus Funds category for the 5-year period annualized out of 46 eligible funds as of 11/30/14. MainStay Epoch Global Equity Yield Fund Class I shares received the Lipper Fund Award in the Global Large-Cap Value Funds category for the 5-year period annualized out of 39 eligible funds as of 11/30/14. MainStay U.S. Equity Opportunities Fund Class I shares received the Lipper Fund Award in the Alternative Active Extension category for the 3-year period annualized out of 37 eligible funds as of 11/30/14. For a detailed explanation, please review the Lipper Fund Awards Methodology document at www.lipperweb.com

About MainStay Investments

With approximately $96 billion in assets under management as of February 28, 2015 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 www.mainstayinvestments.com for more information.

*Based on revenue as reported by "Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual)," Fortune magazine, 6/16/14. See http://fortune.com/fortune500/.

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.

Past performance is no guarantee of future results, which will vary. For the most recent MainStay Funds performance, please visit our web site at www.mainstayinvestments.com

All mutual funds are subject to market risk and will fluctuate in value. Class I shares are generally available only to corporate and institutional investors

For additional information, please contact:

Jacqueline Meere
New York Life Insurance Company
(212) 576-5301
jacqueline_meere@newyorklife.com

Allison Scott
New York Life Insurance Company
(212) 576-4517
allison_scott@newyorklife.com