NYLI MacKay High Yield Muni Bond Fund Class R6
MMHEX
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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
- Parsippany NJ 07054 Springfield MA United States of America 01111-0001
- IPO Date
- Nov 1, 2019
- CIK
- 0001469192
- Website
- massmutualfunds.com
- Similar Companies
- Business
- NYLI MacKay High Yield Muni Bond Fund Class R6 (MMHEX) is an open-end mutual fund that seeks a high level of current income exempt from federal income taxes, with a secondary objective of total return. The fund normally invests at least 80% of its net assets plus any borrowings for investment purposes in a diversified portfolio of municipal bonds, including high-yield, non-investment grade, and potentially distressed securities rated in the lowest category or unrated equivalents; it may allocate up to 10% to bonds in bankruptcy, default, or lowest-rated categories. Managed through a relative value strategy emphasizing credit analysis, yield curve positioning, sector rotation, and risk management without leverage or interest rate bets, the fund features a tenured team led by co-heads John Loffredo and Robert DiMella, who have collaborated since 1993, alongside Michael Petty, David Dowden, Frances Lewis, Michael Perilli, John Lawlor, and Ian France. The fund offers multiple share classes including Class A (MMHAX), Class I (MMHIX), Class C, Class INV, and Class R6 (MMHEX), with net expense ratios such as 0.57% for R6; it declares daily dividends and pays monthly distributions from net investment income, focusing on higher-yielding municipal segments like tobacco settlement authorities, Puerto Rico debt recovery, aqueducts, and matching fund securitizations. Portfolio allocations typically include approximately 86% U.S. bonds and 14% non-U.S. bonds, with top sectors in financial services and operations across the United States market. NYLI MacKay operates under New York Life Investments, with subadvisory from MacKay Shields LLC, a global asset management boutique founded in 1938, registered as an investment adviser in 1969, acquired by New York Life Insurance Company in 1984, and headquartered at 1345 Avenue of the Americas in New York City; MacKay Shields oversees $158.3 billion in assets as of September 30, 2025, primarily in fixed income strategies for high-net-worth individuals and institutions via separate accounts, private funds, UCITS, ETFs, closed-end funds, and mutual funds. Recent developments include the July 2024 acquisition by New York Life Investment Management of six municipal fixed income mutual funds from Aquila Investment Management, with four reorganized into new funds subadvised by the MacKay Shields Municipal Managers team and two merged into the MainStay MacKay Strategic Municipal Allocation Fund, enhancing municipal bond offerings. In December 2025, New York Life Investments launched the NYLI MacKay Muni Allocation ETF (MMMA), an actively managed ETF blending long-duration investment-grade municipals with high-yield allocations for tax-exempt income. The fund's Class R6 launched on November 1, 2019, manages $1.40 billion in share class assets within a $9.27 billion total net assets portfolio, and remains available for sale in the United States with no front-end or deferred loads.