About MTFCX
NYLI MacKay Tax Free Bond Fund Class C is an open-end mutual fund that primarily invests in U.S. municipal bonds with the objective of generating current income exempt from regular federal income tax. The fund employs a relative value strategy, focusing on investment-grade municipal securities by utilizing credit analysis, yield curve positioning, and sector rotation to identify compelling opportunities within the municipal market. Emphasizing risk management, the portfolio management team avoids leverage and does not make significant interest rate bets, instead relying on in-depth research and long-standing relationships with municipal dealers.
The fund generally maintains exposure to higher-yielding bonds, such as those issued by electric utilities and special tax revenue authorities, with corresponding underweightings in other sectors. The investment approach primarily targets municipal bonds rated BBB- and above, with maturities typically ranging from 10 to 30 years, thereby aiming for stable, tax-advantaged income. NYLI MacKay Tax Free Bond Fund Class C serves investors looking to preserve capital while seeking tax-free income through a broadly diversified municipal bond portfolio managed by an experienced investment team.
Fund Family New York Life Investment Management LLC
Category Muni National Long
Performance Rating Average
Risk Rating Below Average
Stock Exchange Nasdaq
Ticker Symbol MTFCX
Share Class Class C
Index Bloomberg Municipal Bond TR
MTFCX had a total return of -2.46% in the past year, including dividends. Since the fund's
inception, the average annual return has been 2.99%.
