MainStay MacKay Convertible Fund Class I
MCNVX
NASDAQ- -
USD
- -
- -
- -
- -
(- -)
Recent
price
- -
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Similar Companies
- Business
- NYLI MacKay Convertible Fund (Class I: MCNVX) is a mutual fund that seeks capital appreciation together with current income by investing primarily in convertible securities. The Fund normally invests at least 80% of its assets in convertible securities, including bonds, debentures, corporate notes, and preferred stocks that are convertible into common stock or the cash value of a stock or a basket or index of equity securities; the balance may be invested in non-convertible debt securities, equity securities that do not pay regular dividends, U.S. government securities, and cash or cash equivalents. It employs a research-driven, total return investment strategy with a disciplined valuation process and emphasis on risk management, targeting balanced convertibles with strong risk/return profiles to capture upside potential while limiting downside exposure. The Fund offers multiple share classes, including Class I shares with no initial sales charge or contingent deferred sales charge and a minimum initial investment of $1 million, and intends to pay monthly distributions from net investment income. The Fund operates in the convertibles category of the asset management industry, serving institutional and high-net-worth investors seeking hybrid fixed income-equity exposure with income generation. It benchmarks performance against indices such as the BofA Merrill Lynch All U.S. Convertibles Index and maintains a portfolio turnover rate of approximately 35%. Managed by a tenured team at MacKay Shields LLC, including lead manager Edward Silverstein (Senior Managing Director with over 20 years of experience, managing the Fund for more than 10 years) and Thomas Wynn (Managing Director, Convertible Portfolio Manager), the strategy focuses on investment-grade and below-investment-grade securities across a broad range of companies and industries. In a major rebranding initiative, New York Life Investments renamed the fund from MainStay MacKay Convertible Fund to NYLI MacKay Convertible Fund, effective August 12, 2024, as part of a broader lineup change for over 30 MainStay and IndexIQ funds to enhance brand clarity and consistency under the New York Life Investments umbrella. The Fund, part of MainStay Funds managed by New York Life Investment Management LLC, is headquartered at 51 Madison Avenue, New York, NY 10010, with an inception date for Class I shares of November 28, 2008. It received the 2023 LSEG Lipper U.S. Fund Award in its category over three years among 16 funds for consistent risk-adjusted performance. As of mid-2025, the Fund manages approximately $1.5 billion in assets with an adjusted expense ratio of 0.61% for Class I shares, supported by a contractual fee waiver through February 28, 2025.