About MCAMX
NYLI MacKay California Muni Fund is an actively managed municipal bond mutual fund focused on delivering current income that is exempt from both federal and California state income taxes. The strategy primarily invests in investment-grade California municipal securities, using a relative value approach that emphasizes bottom-up credit analysis, yield curve positioning, and sector rotation. The portfolio spans essential public finance sectors such as general obligation, transportation, utilities, water and sewer, health, and education, reflecting the breadth of California’s tax-exempt market. Risk management is central to the process, with the team avoiding leverage and refraining from explicit interest-rate bets while maintaining diversified exposure across issuers and structures. Managed by MacKay Municipal, a long-tenured team with deep dealer relationships and on-the-ground research coverage in the state, the fund aims to capture durable, tax-advantaged income from California’s expansive municipal ecosystem. The fund may include a limited allocation to securities subject to the alternative minimum tax, consistent with its objective and mandate.
Fund Family New York Life Investment Management LLC
Category Muni California Long
Performance Rating Below Average
Risk Rating Average
Stock Exchange NASDAQ
Ticker Symbol MCAMX
Share Class Class C2
Index Bloomberg California TaxExempt Muni Bd TR
MCAMX had a total return of 4.57% in the past year, including dividends. Since the fund's
inception, the average annual return has been 0.52%.
