The SEC is investigating NYLIM's MainStay Equity Index Fund over concerns that the fund essentially guarantees an investors initial investment over ten years. The probe was revealed in a Wednesday SEC filing with the SEC.

"NYLIM and the MainStay Equity Index Fund are currently seeking to resolve the SEC Staff's concerns regarding these matters, although there can be no assurance at this time as to the outcome of these efforts," company officials said in the filing.

The company said it was cooperating fully. 

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