- What does MCNVX invest in?
- This fund is designed to achieve two main objectives: growth in its capital value and the generation of ongoing income. Typically, the fund allocates a minimum of 80% of its total assets (inclusive of any borrowed capital for investment purposes) to "convertible securities." This category generally encompasses debt instruments like bonds, debentures, and corporate notes, as well as preferred stocks or other financial instruments that can be exchanged for common stock, or for the cash equivalent value of a single stock, a group of stocks, or an equity index. The remainder of the portfolio may be deployed in non-convertible debt instruments, equity securities that do not provide regular dividends, U.S. government-backed securities, or cash and highly liquid equivalents.
- What is the expense ratio of MCNVX?
- MainStay MacKay Convertible Fund Class I (MCNVX) charges an expense ratio of 0.61%. This is the annual fee deducted from fund assets to cover management and operations.
- How big is MCNVX?
- MainStay MacKay Convertible Fund Class I (MCNVX) manages $1.90B in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.
- Is MCNVX actively managed or an index fund?
- MCNVX's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.
- When was MCNVX launched?
- MainStay MacKay Convertible Fund Class I (MCNVX) launched in November 2008 and is managed by the fund issuer.
- How has MCNVX performed?
- MCNVX'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.
