MacKay Shields & MainStay Investments

Investment Process

Building on our mission of managing income-oriented strategies designed to help our clients’ better meet their investment objectives, MacKay Shields has established a reputation over 40 years as a trusted and respected investment manager.

Today we offer a broad range of fixed income related strategies and solutions for a wide array of global clients including pension funds, government and financial institutions, family offices, high net worth individuals, endowments and foundations, and retail clients. Our investment strategies embrace extensive credit research conducted by investment teams comprised of over 50 investment professionals.

Total Assets Under Management: $91 billion
 MacKay Shields AUM
Dynamic Strategies with Client Objectives in Mind
MacKay Shields dynamic strategies

We are a firm that is committed to executing on our core competencies:

  • Fundamental research
  • Well defined investment philosophies and processes
  • Client satisfaction

Each of our investment strategies is managed by a veteran team of portfolio managers and analysts. Across market cycles, these teams have delivered strong investment returns through unique investment insights driven by bottom-up credit-centric fundamental research, coupled with top-down macro-economic analysis in certain strategies. Each team has an extensive track record of professionals working together through the peaks and valleys of investment cycles and consistently over the long term, adhering to their beliefs, investment convictions and process. With an eye towards the long-term, we strive to be methodical in building our business.


Choose What You Would Like to Learn About Today

  • Global Fixed Income Team

    The Global Fixed Income Team manages a number of income-oriented fixed income strategies ranging from traditional portfolios such as core, core plus and credit to more progressive options investing in high yield, emerging markets and unconstrained strategies.

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  • High Yield Team

    Investors seeking to earn higher income rely on MacKay Shields to manage high yield fixed income strategies that attempt to maximize yield and capital appreciation to better achieve their investment objectives. Our High Yield investment team has earned a reputable position investing in high yield assets since 1991 through a disciplined investment process focused on risk control.

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  • Municipal Managers Team

    Municipal bonds managed by MacKay’s Municipal Managers are suitable for income-oriented investors seeking to achieve attractive after-tax total returns for tax-sensitive accounts and attractive total returns for tax-exempt accounts.

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  • Convertibles Team

    MacKay Shields manages active, balanced convertible portfolios. Our Convertible investment approach offers an attractive alternative to investors who desire the downside protection inherent in bonds as well the potential for capital appreciation from investing in equities.

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