About MSCAX
NYLI MacKay California Muni Fund Class A is an open-end municipal bond mutual fund focused on generating current income that is exempt from both federal and California state income taxes. The strategy primarily invests in California municipal debt and applies a relative value approach that blends rigorous credit analysis, yield-curve positioning, and sector rotation to identify attractive tax-exempt opportunities. The portfolio is managed with an emphasis on risk control, avoiding leverage and refraining from making explicit interest-rate bets, while maintaining broad diversification across hundreds of individual municipal issuers. The fund targets the long end of the municipal market, aligning with the Muni California Long category, and distributes income monthly. It may allocate a limited portion to securities subject to the federal alternative minimum tax, depending on market conditions. Led by a tenured team with decades of municipal market experience, the fund seeks to provide a consistent, tax-advantaged income profile for California-oriented investors, benchmarking its results against a California tax-exempt municipal bond index and operating within a disciplined, research-driven framework.
Fund Family New York Life Investment Management LLC
Category Muni California Long
Performance Rating Average
Risk Rating Average
Stock Exchange Nasdaq
Ticker Symbol MSCAX
Share Class Class A
Index Bloomberg California TaxExempt Muni Bd TR
MSCAX had a total return of -1.79% in the past year, including dividends. Since the fund's
inception, the average annual return has been 3.22%.
