MainStay MacKay Convertible Fund Class B
MCSVX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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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
- Apr 30, 1986
- CIK
- 0000787441
- Similar Companies
- Business
- NYLI MacKay Convertible Fund Class B (MCSVX) is an open-end mutual fund that seeks capital appreciation and current income by investing, under normal circumstances, at least 80% of its assets in convertible securities, including convertible bonds, debentures, corporate notes, preferred stocks, and other securities convertible into common stock or the cash value thereof; the fund employs a research-driven total return strategy emphasizing balanced convertibles with strong risk/return profiles, disciplined valuation processes, and risk management to capture upside potential while limiting downside exposure. Headquartered in New York, New York, and managed by New York Life Investment Management LLC through its MacKay Shields subsidiary since inception on January 3, 1995, the fund targets institutional and retail investors across the United States with approximately $1.5 billion in total net assets across share classes, featuring an annual turnover rate of 35%, effective duration of 2.9 years, and quarterly distributions; share classes include A (MCOAX), B (MCSVX), C (MCCVX), Investor (MCINX), and I (MCNVX), each with distinct sales charges and fees, such as a 5% contingent deferred sales charge for Class B shares redeemed within six years. The portfolio is actively managed by a tenured team led by Senior Managing Director Edward Silverstein, with over 20 years of experience and more than 10 years on the fund, alongside Managing Director Thomas Wynn, who joined as co-manager in February 2024. In July 2024, New York Life Investment Management completed the acquisition of six municipal fixed income mutual funds from Aquila Investment Management, with four reorganized into new state-specific funds subadvised by MacKay Shields Municipal Managers and two merged into the MainStay MacKay Strategic Municipal Allocation Fund, expanding the firm's municipal offerings; additionally, the broader MainStay fund lineup, including this fund, underwent a rebranding to NYLI branding in recent years.