MainStay MacKay Unconstrained Bond's management team is settling after the replacement of its longtime managers, but the support team is thin and keeps experiencing turnover. Additionally, the highly flexible process historically led to a heavy dose of credit risk in the portfolio. The strategy's cheaper share classes earn a Morningstar Analyst Rating of Neutral, while most expensive ones are rated Negative.
Will MSDIX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
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.
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.
The Parent Pillar is our rating of MSDIX’s parent organization’s priorities and whether they’re in line with investors’ interests.