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New York Life

New York Life Parent Rating

Average

New York Life Investments' collection of autonomous investment boutiques will have a new leader in May 2023, and it will take time to assess his impact.

The firm keeps its Average Parent rating.

New York Life, the insurance giant that owns NYL Investments, tapped Naïm Abou-Jaoudé to be the asset manager's CEO after the previous CEO departed. Abou-Jaoudé inherits a firm that has grown by building internally and through acquisition. The firm offers mandates in partnership with 13 different asset managers--eight of which are wholly or partially owned affiliates – through several global outlets. Most U.S. funds fall under the established MainStay brand, whereas IndexIQ oversees a growing lineup of ETFs managed both internally and by other affiliates. Candriam, at which Abou-Jaoudé has been CEO even prior to its 2014 acquisition by NYL Investments, takes the lead in Europe through its own offerings and through those subadvised by other boutiques.

Plenty of these capabilities are compelling, with Candriam and fellow affiliates MacKay Shields and Ausbil sporting standout teams in several wheelhouses. Yet many of the boutiques have also struggled with managing bloated lineups or with improving lagging teams. NYL Investments hasn't shied from changing subadvisors or merging platforms and doesn't have a spotless record of managing capacity or of avoiding trendy offerings.

New York Life Investments

Market

US Open-end ex MM ex FoF ex Feeder

Total Net Assets

67.46 Bil

Investment Flows (TTM)

−891.64 Mil

Asset Growth Rate (TTM)

−1.50%

# of Share Classes

241
Morningstar Rating # of Share Classes
17
66
99
48
11
Not Rated 0

Exchange-Traded Funds

See All New York Life ETFs

Market

US ETFs

Total Net Assets

4.31 Bil

Investment Flows (TTM)

362.62 Mil

Asset Growth Rate (TTM)

10.00%

# of Share Classes

24
Morningstar Rating # of Share Classes
1
4
3
3
1
Not Rated 12

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