About MGVNX
NYLI MacKay U.S. Infrastructure Bond Fund Investor Class is an open-end mutual fund that focuses on generating current income by investing predominantly in high-quality taxable municipal bonds. Its primary investment objective is to provide exposure to debt securities that finance critical U.S. infrastructure projects, such as transportation, utilities, and public facilities. The fund adopts a relative value approach driven by in-depth credit analysis, yield curve positioning, and sector rotation, with a strategic emphasis on investment-grade securities to manage credit risk.
A distinguishing feature of the fund is its concentration in taxable municipal bonds, which distinguishes it from typical core bond funds that may favor Treasuries or corporates. This focus provides investors with access to an asset class that can offer attractive income potential and enhanced portfolio diversification, as taxable municipal bonds typically exhibit lower correlation to equities. The fund’s portfolio managers invest at least 60% of assets in taxable municipal debt, adhering to strict quality standards as rated by nationally recognized statistical rating organizations, and may allocate up to 20% to tax-exempt municipal securities. With monthly distributions and a history of professional management, the fund plays a meaningful role for those seeking diversified fixed-income exposure tied to U.S. infrastructure development.
Fund Family New York Life Investment Management LLC
Category Intermediate Core Bond
Performance Rating Average
Risk Rating Below Average
Stock Exchange NASDAQ
Ticker Symbol MGVNX
Share Class Investor Class
Index Index is not available on Lipper Database
MGVNX had a total return of -0.85% in the past year, including dividends. Since the fund's
inception, the average annual return has been 1.78%.
