Morningstar

NYLIM MacKay Convertible Investor Class MCINX

Morningstar Medalist Rating
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  • NAV / 1-Day Return $22.35  /  +0.22 %
  • Fund Size $1.8B
  • Adjusted Expense Ratio 1.160%
  • Net Expense Ratio 1.160%
  • Fee Level: Distribution Average
  • Share Class Type Front Load
  • Morningstar Category Convertibles
  • Equity Style Box (Funds) Mid Blend
  • Minimum Initial Investment $1,000
  • Investment Status Open
  • TTM Yield 1.70%
  • Turnover Ratio 40%
NAV and 1-Day Return as of

Morningstar’s Analysis MCINX

Will MCINX outperform in the 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 MCINX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the MCINX 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 MCINX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Deep experience and downside discipline, with an up-market asterisk.

Analyst Zach Houston-Read

Zach Houston-Read

Analyst

Summary

The veteran duo managing NYLI MacKay Convertible offers investors a disciplined, quality-focused approach to convertible securities. The strategy consistently prioritizes capital preservation during downturns, but the process can leave “chips on the table” when markets rally.

by Zach Houston-Read
Rated on Published on

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Portfolio Holdings MCINX

More MCINX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 20.3
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

NYLIM U.S. Government Liquidity Class I

6.93 130M
Cash and Equivalents

Alphabet Inc PRF PERPETUAL USD 1000 - 1/20th Int Ser A

2.95 55M
Communication Services

Welltower OP LLC 3.125%

2.80 52M
Corporate

Western Digital Corp. 3%

2.48 47M
Corporate

Lumentum Holdings Inc. 0.5%

2.09 39M
Corporate

Snowflake Inc 0%

1.86 35M
Corporate

Hewlett Packard Enterprise Co 7.625% PRF CONVERT 01/09/2027 USD 50 - Ser C

1.71 32M
Technology

Revolution Medicines Inc 0.5%

1.66 31M
Corporate

IMAX Corporation 0.75%

1.65 31M
Corporate

Tetra Tech Inc 2.25%

1.60 30M
Corporate

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