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Morningstar

MainStay MacKay Strategic Bond I MSDIX

Morningstar Analyst Rating
Analyst rating as of
NAV / 1-Day Return
8.07  /  0.50 %
Total Assets
664.8 Mil
Adj. Expense Ratio
0.710%
Expense Ratio
0.730%
Fee Level
Below Average
Longest Manager Tenure
4.60 years
Category
Nontraditional Bond
Credit Quality / Interest Rate Sensitivity
Medium / Limited
Min. Initial Investment
1,000,000
Status
Open
TTM Yield
2.87%
Effective Duration
3.00 years

Morningstar’s Fund Analysis MSDIX

Will MSDIX 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 MSDIX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

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

Team turnover is still a revolving door.

Senior Analyst

Summary

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MainStay MacKay Strategic Bond's managers’ now have a three-year track record, but the support team is slimmer than its rivals and keeps experiencing turnover. Additionally, the highly flexible process historically has led to a heavy dose of credit risk in the portfolio. The strategy's share classes earn a Morningstar Analyst Rating of Negative.

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