About MGVAX
NYLI MacKay U.S. Infrastructure Bond Fund Class A is an open-end mutual fund specializing in fixed income, with a primary focus on high-quality taxable municipal debt securities. The fund is managed to serve as a strategic portfolio diversifier, offering investors access to municipal bonds that generally exhibit lower correlation with equities, and thus may help reduce overall portfolio risk. A core objective of the fund is to generate attractive income and potential total returns, serving as a compelling alternative to investment-grade corporate bonds and other fixed-income sectors.
This fund implements a relative value approach, utilizing in-depth credit analysis, yield curve positioning, and sector rotation, and emphasizes investment-grade securities at the time of purchase. It invests at least 60% of its assets in taxable munis and may allocate up to 20% to tax-exempt municipal debt. While it may hold select U.S. government debt and high-quality commercial paper, its portfolio is concentrated in infrastructure-related sectors such as transportation, utilities, and public projects. Known for its "quality-up" strategy, the fund has consistently ranked in the top quartile within its Morningstar peer group for key time periods, demonstrating both competitive yields and a prudent approach to credit and sector exposure.
Fund Family New York Life Investment Management LLC
Category Intermediate Core Bond
Stock Exchange NASDAQ
Ticker Symbol MGVAX
Share Class Class A
Index Index is not available on Lipper Database
MGVAX had a total return of 3.41% in the past year, including dividends. Since the fund's
inception, the average annual return has been 3.74%.
