About MNOCX
NYLI MacKay New York Muni Fund is a municipal bond mutual fund designed to provide current income that is generally exempt from federal and New York state income taxes, and, in some cases, New York local income taxes. The fund primarily invests at least 80% of its assets in municipal bonds issued by New York entities, with a focus on maintaining investment-grade credit quality. It employs a relative value strategy, relying on rigorous credit analysis, yield curve positioning, and sector rotation to identify opportunities within the municipal bond market. The management team, notable for its tenure and long-standing relationships with municipal dealers, places strong emphasis on risk management and does not employ leverage or make interest rate bets. This fund is particularly relevant for investors seeking tax-advantaged income and caters predominantly to New York residents given the state-specific tax benefits. Its long-term track record demonstrates consistency, often ranking within the top quartile of its Morningstar category over rolling five-year periods, highlighting its reputation within the New York long municipal fund space.
Fund Family New York Life Investment Management LLC
Category Muni New York Long
Performance Rating Average
Risk Rating Average
Stock Exchange NASDAQ
Ticker Symbol MNOCX
Share Class Class C
Index Bloomberg New York TaxExempt Muni Bond TR
MNOCX had a total return of 6.38% in the past year, including dividends. Since the fund's
inception, the average annual return has been 2.56%.
