About MCINX
NYLI MacKay Convertible Fund Investor Class is a mutual fund that seeks capital appreciation together with current income by investing at least 80% of its assets in convertible securities, including bonds, debentures, corporate notes, and preferred stocks convertible into common stock. The remaining portfolio may hold non-convertible debt, equity securities, U.S. government securities, and cash equivalents. The fund employs a balanced, total return strategy focused on identifying convertible securities with attractive risk-reward profiles, targeting participation in approximately 60% to 80% of underlying equity price appreciation while limiting downside exposure to 30% to 50%. The investment team conducts intensive bottom-up fundamental research to avoid overvalued convertibles and applies a strict sell discipline based on valuation changes, deteriorating fundamentals, or better opportunities. With a diversified portfolio of over 100 holdings managed through disciplined quantitative and fundamental analysis, the fund aims to deliver solid investment performance with below-average market risk, making it suitable for investors seeking the dual benefits of bond downside protection and equity upside potential.
Fund Family New York Life Investment Management LLC
Category Convertibles
Performance Rating Average
Risk Rating Below Average
Stock Exchange Nasdaq
Ticker Symbol MCINX
Share Class Investor Class
Index ICE BofA All Convertibles/Qlt TR
MCINX had a total return of 20.82% in the past year, including dividends. Since the fund's
inception, the average annual return has been 8.67%.
