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.
- NAV / 1-Day Return 8.19 / 0.12 %
- Total Assets 692.1 Mil
-
Adj. Expense Ratio
- Expense Ratio 0.700%
- Distribution Fee Level Below Average
- Share Class Type Institutional
- Category Nontraditional Bond
- Credit Quality / Interest Rate Sensitivity Medium / Limited
- Min. Initial Investment 1,000,000
- Status Open
- TTM Yield 4.62%
- Effective Duration 3.63 years
Morningstar’s Analysis MSDIX
Will MSDIX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
Process Pillar
People Pillar
Parent Pillar
- Current Portfolio Date
- Equity Holdings 2
- Bond Holdings 483
- Other Holdings 16
- % Assets in Top 10 Holdings —