- What does MCINX invest in?
- This fund's objective is to achieve both long-term capital growth and a steady stream of income. Under typical market conditions, it dedicates at least 80% of its total assets (which includes any funds borrowed for investment) to "convertible securities." These encompass a range of financial instruments, such as bonds, debentures, corporate notes, and preferred stocks, all designed to be exchangeable into common stock or a cash equivalent value tied to an individual stock, a group of stocks, or an equity index. The remaining portion of the portfolio may be allocated to non-convertible debt, equity holdings that do not provide regular dividends, U.S. government debt instruments, or highly liquid assets like cash.
- What is the expense ratio of MCINX?
- NYLI MacKay Convertible Fund Investor Class (MCINX) charges an expense ratio of 1.16%. This is the annual fee deducted from fund assets to cover management and operations.
- How big is MCINX?
- NYLI MacKay Convertible Fund Investor Class (MCINX) is one share class of a fund that manages $1.84B across all of its share classes (MCNVX reports the same total). Our data does not carry the assets of this share class alone. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.
- Is MCINX actively managed or an index fund?
- MCINX is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (MCINX's is 1.16%) in exchange for the discretion to over- or under-weight positions.
- When was MCINX launched?
- NYLI MacKay Convertible Fund Investor Class (MCINX) launched in February 2008 and is managed by New York Life / NYLI.
- How has MCINX performed?
- MCINX's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.
