About MSCVX
NYLI MacKay California Muni Fund is an actively managed municipal bond mutual fund focused on generating current income that is exempt from federal and California state income taxes. The portfolio invests at least 80% of assets in California municipal debt, with flexibility to allocate a portion to issues subject to the alternative minimum tax, aiming to balance tax efficiency with risk-adjusted yield opportunities. The strategy emphasizes relative value across the state’s muni market through credit analysis, yield-curve positioning, and sector rotation, while avoiding leverage and large directional interest-rate bets. The fund typically holds a diversified mix of revenue and general obligation bonds across essential-service, education, transportation, and infrastructure issuers, reflecting the breadth of California’s municipal financing needs. Managed by a tenured team with long-standing dealer relationships, it seeks consistent, tax-advantaged income with attention to credit quality and duration risk within the long California muni category. Regular monthly distributions and a broad holdings count underscore its income orientation and diversified approach in the state-specific municipal bond segment.
Fund Family New York Life Investment Management LLC
Category Muni California Long
Performance Rating Average
Risk Rating Average
Stock Exchange NASDAQ
Ticker Symbol MSCVX
Share Class Investor Class
Index Bloomberg California TaxExempt Muni Bd TR
MSCVX had a total return of 4.41% in the past year, including dividends. Since the fund's
inception, the average annual return has been 5.85%.
