MainStay Investments Triples Assets Under Management
MainStay Investments Triples Assets Under Management
Strong Performance and Net Flows in Key MainStay Funds Drive Significant Increase in Assets
First National Advertising Campaign Highlights Fund Family's Long-Term Track Record
NEW YORK--(BUSINESS WIRE)-- MainStay Investments ("MainStay"), a New York Life company and Barron's top fund family, announced today that total long-term mutual fund assets under management have more than tripled over the past five years to over $80 billion, as of July 31, 2013, up from $26.3 billion in July 2008, solidifying the firm's position as a leader in the mutual fund industry.
"We are incredibly proud of MainStay's tremendous growth over the past five years," said Stephen Fisher, president of the MainStay Funds and chief marketing officer for New York Life Investments Group. "Despite tough economic conditions and uncertainty in the markets, MainStay's multi-boutique strategy has proven extremely successful - combining the expertise of extremely talented fund managers from across numerous traditional and alternative asset classes to produce the right solutions for the investment community and their clients."
Strong Sales and Performance across the Firm
Fueled by a combination of inflows and fund performance, MainStay's assets under management now stand at $80 billion, as of June 30, 2013, more than triple the $26.3 billion the firm managed as of June 30, 2008. Sales through June 30, 2013 stand at $13.6 billion year-to-date, compared to $6 billion for the full year of 2008. MainStay has increased its number of 4- and 5-star rated funds by Morningstar® by over a third, and numerous MainStay Funds have achieved top rankings from Lipper as of August 31, 2013, including:
- MainStay High Yield Opportunities Fund (ticker: MYHIX; Class I) in the Top 1% of the High Yield Funds category since inception
- MainStay High Yield Municipal Bond Fund (ticker: MMHIX; Class I) in the Top 1% of the High Yield Municipal Debt Funds category since inception
- MainStay ICAP Select Equity Fund (ticker: ICSLX; Class I) in the Top 3% of the Large-Cap Value category for the 10- year period
- MainStay Marketfield Fund (ticker: MFLDX; Class I) in the Top 7% of the Long/Short Equity category since inception
- MainStay ICAP International Fund (ticker:: ICEUX; Class I) in the Top 7 % of the International Large-Cap Core category for the 10- year period
- MainStay Large Cap Growth Fund (ticker: ICEVX; Class A) in the Top 9% of the Large-Cap Growth category for the 10-year period
- MainStay Epoch Global Equity Yield Fund (ticker: EPSYX; Class I) in the Top 17% of the Global Multi-Cap Value category since inception
First National Advertising Campaign for MainStay
As a result of the firm's exceptional growth, MainStay is making a significant financial commitment to launch their first national advertising campaign this month, focusing on its long-term investment approach.
Building on the established New York Life "Keep Good Going" campaign, MainStay's advertising is centered around business philosophies that demonstrate the firm's 'consistent performance' and 'long-term perspective', which have helped propel it to Barron's #1 (with data provided by Lipper) fund family for the 10 year period in the 2012 annual ranking. MainStay is the only mutual fund family on Barron's top six fund family list for the past five years in a row.
The new 18-month campaign is aimed at increasing visibility for MainStay and its mutual funds within the advisor community, and consists of: print, digital, TV advertisements, webinar sponsorships, and social media outreach. The newly launched landing page for the campaign mainstayinvestments.com/longterm is optimized for mobile, desktop and tablet users.
With headlines in the campaign including: "The long-term is the only term that matters" and "A classic style outlasts a popular trend," MainStay based the campaign on the investment and business philosophies that are increasingly important to advisors and their clients.
"MainStay's new campaign is about building awareness around our brand and demonstrating our commitment to our partners in the advisor community," Steve Fisher added. "We are very excited about the future for MainStay as we continue to provide multi-boutique investments and deliver strong investment and income solutions to investors."
About MainStay Investments
With over $80 billion in assets under management as of July 31, 2013 across retail mutual funds and variable product sub-accounts, MainStay Investments is the mutual fund distribution arm of New York Life. MainStay provides financial advisors access to a powerful mix of autonomous, institutional investment managers, delivered by people who understand the needs of today's financial advisor. As an indirect subsidiary of New York Life Insurance Company, a Fortune 100 company founded in 1845, MainStay is owned by the largest mutual life insurance company in the United States*** and one of the largest life insurers in the world. Please visit MainStay's website at www.mainstayinvestments.com for more information.
For more information about MainStay Funds®, call 800-MAINSTAY (624-6782) for a prospectus or summary prospectus. Investors are asked to consider the investment objectives, risks, and charges and expenses of the investment carefully before investing. The prospectus or summary prospectus contains this and other information about the investment company. Please read the prospectus or summary prospectus carefully before investing.
The MainStay Funds® are managed by New York Life Investment Management LLC and distributed by NYLIFE Distributors LLC, 169 Lackawanna Avenue, Parsippany, NJ 07054, a wholly owned subsidiary of New York Life Insurance Company. NYLIFE Distributors LLC is a Member FINRA/SIPC.
All mutual funds are subject to market risk and will fluctuate in value.
How Barron's Ranks the Fund Families
To qualify for the Lipper/Barron's Fund Survey, a fund family must have at least three funds in Lipper's general U.S.-stock category, one in world equity (which combines global and international funds), one mixed-equity fund (which holds stocks and bonds), two taxable-bond funds, and one tax-exempt fund. Fund loads and 12b-1 fees aren't included in the calculation of returns because the aim is to measure the manager's skill. Each fund's return is measured against all funds in its Lipper category, resulting in a percentile ranking which is then weighted by asset size relative to the fund family's other assets in its general classifications. Finally, the score is multiplied by the general classification weightings as determined by the entire Lipper universe of funds.
Source: Barron's, 2/9/13. Overall, MainStay Funds ranked number 56 for the one-year period, 20 for the five-year period, and one for the 10-year period ended December 31, 2012, out of 62, 53, and 46 fund families, respectively.
MainStay ranked number three for the 10-year period in 2009, 2010, and 2011 from among 48, 46, and 45 fund families, respectively. MainStay ranked number six from among 48 fund families for the 10-year period in 2008.
MainStay High Yield Opportunities Fund (Class I) in the Top 1% of the High Yield Funds category out of 306 funds for the since inception period. Percentile Rank: 20, 54, and 1 for the one-, three-, and five-year periods out of 541, 442, and 392 funds, respectively.
MainStay High Yield Municipal Bond Fund (Class I) in the Top 1% of the High Yield Municipal Debt Funds category out of 111 funds for the since inception period. Percentile Rank: 28, and 1 for the one-, and three-year periods out of 121, and 113 funds, respectively.
MainStay ICAP Select Equity Fund (Class I) in the Top 3 % of the Large Cap Value category out of 236 funds for the 10- year period. Percentile Rank: 56, 50, and 17 for the one-, three-, and five-year periods out of 475, 414, and 371 funds, respectively.
MainStay Marketfield Fund (Class I) in the Top 7% of the Long/Short Equity category out of 42 funds for the since inception period. Percentile Rank: 27, 15, and 5 for the one-, three-, and five-year periods out of 174, 105, and 60 funds, respectively.
MainStay ICAP International Fund (Class I) in the Top 7 % of the International Large-Cap Value category out of 31 funds for the 10- year period. Percentile Rank: 20, 10, and 16 for the one-, three-, and five-year periods out of 84, 79, and 68 funds, respectively.
MainStay Large Cap Growth Fund (Class A) in the Top 9% of the Large-Cap Growth category out of 367 funds for the 10-year period. Percentile Rank: 43, 45, and 40 for the one-, three-, and five-year periods out of 713, 599, and 541 funds, respectively.
MainStay Epoch Global Equity Yield Fund (Class I) in the Top 17% of the Global Large-Cap Value category out of 23 funds for the since inception period. Percentile Rank: 86, 24, and 4 for the one-, three-, and five-year periods out of 48, 38, and 31 funds, respectively.
Lipper is an independent fund performance monitor. Results are based on total returns with capital gain and dividend distributions reinvested and do not reflect any deduction of sales charges, which could lower performance. The highest (most favorable) percentile rank is 1 and the lowest (least favorable) percentile rank is 100. The top performing fund in a category will always receive a rank of 1. Percentile ranks within categories are most useful in those categories that have a large number of funds.
Past performance is no guarantee of future results, which will vary.For the most recent MainStay Funds performance, please visit our website at mainstayinvestments.com
MainStay Investments® is a registered service mark and name under which New York Life Investment Management LLC does business. MainStay Investments, an indirect subsidiary of New York Life Insurance Company, New York, NY 10010, provides investment advisory products and services.
***Based on revenue as reported by "Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual)," Fortune magazine, May 20, 2013. See http://money.cnn.com/magazines/fortune/fortune500/2013/faq/?iid=F500_sp_method for methodology.
KEYWORDS: United States North America New York
The article MainStay Investments Triples Assets Under Management originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.