NYLI MacKay Convertible Fund Investor Class
MCINX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 51 Madison Ave New York NY United States of America 10010
- IPO Date
- Feb 28, 2008
- CIK
- 0000787441
- Website
- nylim.com
- Similar Companies
- Business
- NYLI MacKay Convertible Fund Investor Class (MCINX) is an open-end mutual fund that seeks capital appreciation together with current income by investing at least 80% of its net assets plus any borrowings for investment purposes in convertible securities, including bonds, debentures, corporate notes, preferred stocks, and other securities convertible into common stock or the cash equivalent of a stock, basket, or index of equity securities; the balance may be invested in non-convertible debt, equity securities that do not pay regular dividends, U.S. government securities, and cash equivalents. The fund employs a flexible, research-driven approach across a broad range of investment-grade and below investment-grade (high-yield or junk) securities from diverse companies and industries, incorporating bottom-up credit analysis, relative value assessment, and consideration of environmental, social, and governance (ESG) risk factors without excluding any sectors; it also may invest in synthetic convertible securities and foreign securities based on country-of-risk determinations. Share classes include A (MCOAX), Investor (MCINX), B (MCSVX, closed to new purchases), C (MCCVX), and I (MCNVX), with total net assets of approximately $1.6 billion, a portfolio turnover rate of 33%-35%, quarterly distributions, and an effective duration of around 2.8 years. Part of New York Life Investments Funds (formerly MainStay Funds and MainStay Funds Trust), the fund is managed by New York Life Investment Management LLC, with subadvisory provided by affiliate MacKay Shields LLC; portfolio management is led by Edward Silverstein, CFA (since 2001), and Thomas Wynn, CFA (since February 2024). Launched on January 3, 1995 (Class A inception; Class I on November 28, 2008; overall fund inception May 1, 1986), it is headquartered at 51 Madison Avenue, New York, NY, as part of New York Life Insurance Company affiliates, and operates primarily in U.S. markets with global exposure through foreign convertible securities. In a major recent reorganization effective around August 28, 2024, the fund and its parent trusts were renamed from MainStay MacKay Convertible Fund under The MainStay Funds/MainStay Funds Trust to NYLI MacKay Convertible Fund under New York Life Investments Funds/New York Life Investments Funds Trust; this aligns with broader branding unification under New York Life Investments. New York Life Investment Management concurrently acquired six municipal fixed-income funds from Aquila Investment Management in July 2024, with four reorganized into new state-specific funds (Arizona, Colorado, Oregon, Utah) subadvised by MacKay Shields' Municipal Managers team and two merged into the existing NYLI MacKay Strategic Municipal Allocation Fund, expanding the municipal offerings but not directly impacting the Convertible Fund. No additional funding rounds, product launches, or operational shifts specific to MCINX were reported in 2025.