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MainStay MacKay Strategic Bond B MASBX

Analyst rating as of
  • NAV / 1-Day Return 8.33  /  0.12 %
  • Total Assets 696.5 Mil
  • Adj. Expense Ratio
    1.920%
  • Expense Ratio 1.960%
  • Distribution Fee Level High
  • Share Class Type
  • Category Nontraditional Bond
  • Credit Quality / Interest Rate Sensitivity Medium / Limited
  • Min. Initial Investment 1,000
  • Status Closed
  • TTM Yield 2.21%
  • Effective Duration 3.60 years

Morningstar’s Analysis MASBX

Will MASBX 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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