About UTAYX
NYLI MacKay Utah Muni Fund Class I is a municipal bond mutual fund designed to provide current income exempt from both federal and Utah state income taxes. This fund primarily invests at least 80% of its assets in a diversified portfolio of municipal bonds issued within Utah, with a strong focus on maintaining tax efficiency for residents of the state. Leveraging a veteran municipal investment team and an active management approach, the fund employs strategies such as in-depth credit analysis, yield curve positioning, and sector rotation to identify value opportunities while emphasizing rigorous risk management. As a non-diversified fund, its portfolio consists primarily of debt from Utah-related issuers across sectors like education, transportation, and housing. The fund typically distributes income monthly, appealing to institutional and high-net-worth investors seeking stable, tax-advantaged income. With its institutional share class, the NYLI MacKay Utah Muni Fund Class I plays a significant role for investors aiming to optimize after-tax returns through a targeted allocation to Utah municipal securities, contributing to both portfolio stability and local infrastructure funding.
Fund Family New York Life Investment Management LLC
Category Muni Single State Interm
Performance Rating Above Average
Risk Rating Average
Stock Exchange NASDAQ
Ticker Symbol UTAYX
Share Class Class I
Index Bloomberg Muni Quality Intermediate TR
UTAYX had a total return of 5.25% in the past year, including dividends. Since the fund's
inception, the average annual return has been 4.02%.
