NYLI PineStone International Equity Fund Class A
FCIRX
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- NYLI PineStone International Equity Fund Class A (FCIRX) is a mutual fund that seeks capital appreciation by investing primarily in a high-conviction portfolio of equity securities from companies located in at least three countries outside the United States, including both developed markets and emerging markets; it normally allocates at least 80% of its net assets to such international equities, targeting firms with sustainable competitive advantages and attractive returns on invested capital. The fund offers multiple share classes including Class A (FCIRX) with a maximum initial sales charge of 5.5% and a 1% contingent deferred sales charge on certain redemptions within 18 months, Class C (FCICX), Class I (FCIUX), and Class R6 (FCIWX), with total net assets across all classes of approximately $770.6 million as of September 30, 2025. Subadvised by PineStone Asset Management Inc., a Montreal-based, founder-led boutique firm established in 2021 that applies a disciplined, long-term investment philosophy originally developed since 2009, the fund maintains a focused portfolio of around 35 holdings with low annual turnover of 10%, emphasizing sectors such as information technology, industrials, and consumer discretionary across countries including the United Kingdom, France, Switzerland, and Taiwan. New York Life Investment Management LLC, part of New York Life Insurance Company headquartered in New York, serves as the advisor and distributor through NYLIFE Distributors LLC, providing investors with access to this foreign large growth strategy benchmarked against the MSCI EAFE Index. In recent major changes, the fund succeeded the Fiera Capital International Equity Fund via reorganization effective August 25, 2023, assuming its historical performance despite a different prior fee structure; it underwent a name change from MainStay PineStone International Equity Fund to NYLI PineStone International Equity Fund effective August 28, 2024, as part of New York Life Investments' broader rebranding of its MainStay lineup; additionally, New York Life Investments entered a strategic partnership with Fiera Capital and PineStone Asset Management in 2023 to integrate high-quality equity strategies including this fund into its offerings, with a fee waiver agreement extending through February 28, 2026.