MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, June 29, 2009 MainStay Revamps its Fund Lineup New York Life's MainStay Funds on Monday unveiled a host of changes in its stock and bond funds, including sub-advisor, expense ratio and name changes. It ended sub-advisory relationships with fellow New York Life unit MacKay Shields for some funds. These include the All Cap Growth and Small Cap Growth funds, for which it has tapped Epoch Investment Partners as interim sub-advisor. For the Mid Cap Growth and Mid Cap Value, New York Life appointed Tony Elavia, CEO of New York Life unit Madison Square Investors as portfolio manager. Madison Square Investors will also serve as interim sub-advisor for the Capital Appreciation Fund. Another New York Life subsidiary, Institutional Capital LLC, has become interim sub-advisor for the MainStay Value Fund. A representative for MainStay told The MFWire that the "enhancements are indicative of our enduring commitment to shareholders and reflect our multi-boutique model. There is inherent value in the ability to offer acumen and expertise across asset classes and investment styles. We share a lot of investment philosophy [with Epoch], they are a well regarded institutional boutique that add a complementary dimension to robust offering." MainStay also announced fund reorganizations, benchmark and expense ratio changes. Printed from: MFWire.com/story.asp?s=21926 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |