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Morningstar

MainStay MacKay Strategic Bond B MASBX Fund Analysis

Morningstar Medalist Rating
| Medalist Rating as of | See New York Life Investment Hub

Morningstar’s Analysis MASBX

Will MASBX outperform in future?

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

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable MASBX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the MASBX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of MASBX’s parent organization’s priorities and whether they’re in line with investors’ interests.

A multi-sector strategy fully loaded with credit risk.

Senior Analyst Peter Marchese

Peter Marchese

Senior Analyst

Summary

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.

by Peter Marchese
Rated on Published on

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