About MNOLX
NYLI MacKay New York Muni Fund is a municipal bond mutual fund designed primarily to provide investors with current income that is exempt from federal, New York State, and—where applicable—New York City income taxes. The fund invests at least 80% of its assets in municipal bonds whose interest is classified as tax-exempt for both federal and New York state purposes, making it particularly relevant for New York residents seeking to maximize after-tax income.
Led by a seasoned management team with experience dating back to 1993, the fund employs a relative value strategy centered on credit analysis, yield curve positioning, and sector rotation. The investment approach emphasizes robust risk management without leveraging or taking significant interest rate bets. The fund’s portfolio is broadly diversified across New York municipal bonds, commonly incorporating issuers like state and city agencies, transportation authorities, and various public infrastructure projects.
Known for its long-term performance, the NYLI MacKay New York Muni Fund has often ranked in the top quartile of its category over multiple rolling five-year periods. The fund’s structure and strategy are tailored to serve investors with a preference for stability, tax efficiency, and exposure to the New York municipal fixed income sector.
Fund Family New York Life Investment Management LLC
Category Muni New York Long
Performance Rating Below Average
Risk Rating Average
Stock Exchange NASDAQ
Ticker Symbol MNOLX
Share Class Class C2
Index Bloomberg New York TaxExempt Muni Bond TR
MNOLX had a total return of 6.46% in the past year, including dividends. Since the fund's
inception, the average annual return has been 0.90%.
