About MCOIX
NYLI MacKay California Muni Fund Class I is an institutional municipal bond mutual fund focused on generating current income that is exempt from both federal and California state income taxes. The portfolio primarily invests at least 80% of assets in California municipal debt, employing a relative value approach that blends bottom‑up credit analysis, yield‑curve positioning, and sector rotation, while avoiding leverage and outsized interest‑rate bets. It targets the long segment of the California muni market, aligning with investors seeking tax‑advantaged income from state and local issuers such as school districts, transportation authorities, utilities, and airport revenue bonds. Managed by a tenured team with deep dealer relationships dating back to the early 1990s, the strategy emphasizes risk management and liquidity, with dividends distributed monthly. Within the Muni California Long category, the fund aims to provide competitive, tax‑efficient total return and risk‑adjusted outcomes, supported by a below‑average fee profile for its share class and broad diversification across hundreds of holdings.
Fund Family New York Life Investment Management LLC
Category Muni California Long
Performance Rating Above Average
Risk Rating Average
Stock Exchange NASDAQ
Ticker Symbol MCOIX
Share Class Class I
Index Bloomberg California TaxExempt Muni Bd TR
MCOIX had a total return of 5.18% in the past year, including dividends. Since the fund's
inception, the average annual return has been 3.80%.
