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MainStay MacKay Strategic Bond A MASAX

Analyst rating as of
NAV / 1-Day Return
8.12  /  0.12 %
Total Assets
670.8 Mil
Adj. Expense Ratio
1.060%
Expense Ratio
1.080%
Fee Level
Below Average
Longest Manager Tenure
4.74 years
Category
Nontraditional Bond
Credit Quality / Interest Rate Sensitivity
Medium / Limited
Min. Initial Investment
15,000
Status
Open
TTM Yield
2.69%
Effective Duration
3.60 years

Morningstar’s Fund Analysis MASAX

Will MASAX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

A multi-sector strategy fully loaded with credit risk.

Senior Analyst

Summary

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MainStay MacKay Strategic Bond's managers completed a three-year restructuring plan for their team in 2021, which had led to meaningful staff turnover. The turnover has stopped in 2022, but the support team here is still slimmer than those at rival fund houses. Additionally, the highly flexible process has historically led to a heavy dose of credit risk in the strategy, from both corporate and securitized bonds, and middling returns. The fund earns a Morningstar Analyst Rating of Neutral for the I and R6 share classes and Negative for the remaining share classes.

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