Our commitment to performance with purpose.


Since 1938, MacKay Shields has partnered with clients to help meet their investment goals through high quality products and exceptional service. We serve a prominent group of pension funds, government and financial institutions, family offices, high net worth individuals, endowments, and foundations from across the globe.

Boutique Approach

Boutique investment teams utilize their own philosophy, processes, and experience to add value across capital markets.

Strategies

Strategies

High Touch Service

We offer our clients direct access to our investment teams. We’re well aware that our people are the best investment of all.

Our Investment Teams

Our Investment Teams

Responsibility In Action

We provide purposeful opportunities for our employees and promote the well-being of the environment and communities in which we work and live.

Responsibility

Responsibility

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Equitable for All—Visualizing Our Differences

At MacKay Shields we commit to the equitable treatment of all. To demonstrate this, MacKay worked with artist and photographer Maya Barkai to create this piece, which is meant to embody our diversity, equity and inclusion (left image). The piece of art (right) is created by MacKay's own Alina Sysak and represents the unique and diverse makeup of our firm. 

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Equitable for All—Visualizing Our Differences
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Don't Judge a Bond By Its Label
Don't Judge a Bond By Its Label

Don't Judge a Bond By Its Label

As the volume of green, social, sustainable and sustainability-linked (GSSS) bonds grows, the terms of new, supposedly green or sustainable debt are getting looser or failing to reflect current best practices (or both). 

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What We Expect from the 2022 Midterm Elections

MacKay Municipal Managers consider public policy and the political landscape to be a critical component of the team’s investment process.

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What We Expect from the 2022 Midterm Elections
Emerging Markets Debt Team
Emerging Market Insights

Reaping Rewards from Early Policy Responses

We find that current emerging market valuations have priced in negative scenarios that are already reflected in risk premiums. For long term investors this creates a potential opportunity to gain exposure to fast growing and often resilient countries. Having learned during many crises in the past, decision makers in emerging markets who reacted early and decisively have reaped the rewards during this period of volatility.

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Reaping Rewards from Early Policy Responses
The Perceived Problem

The Perceived Problem 

Critics say the Federal Open Market Committee’s purchase programs for corporate bonds in 2020 could permanently distort credit pricing. Read our analysis of market pricing and the impact of Federal Reserve and ECB interventions in the corporate bond market.

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The Perceived Problem
Inflation Reduction Act
Inflation Reduction Act of 2022–A Look at Key Implications

Inflation Reduction Act of 2022–A Look at Key Implications

To offer perspective on the passage of the Inflation Reduction Act of 2022 (IRA), MacKay Shields is publishing a series that looks at the potential impact on the environment, inflation, and corporate sectors. 

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Emerging Markets Debt Team

Role Reversal: Why Some Emerging Market Central Banks Were Well-Prepared for the Global Inflation Shock, and What It Means for EM Debt

Many emerging market central banks acted much more proactively, tightening monetary policy well in advance of their developed market counterparts. This inflation-fighting resolve has provided a tailwind to emerging market asset returns.

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Emerging Markets Debt Team

FEATURED INSIGHTS

The Muni 360 Podcast - Weekly Wrap Up
Listen to the most recent podcast, as the seasoned active investors at MacKay Municipal Managers share their latest views on the municipal market.
5 MIN READ
December 1, 2022
Don't Judge a Bond By Its Label
As the volume of green, social, sustainable and sustainability-linked (GSSS) bonds grows, the terms of new, supposedly green or sustainable debt are getting looser or failing to reflect current best practices (or both).
2022 Mid-Year Insights
We believe fixed income valuations are meaningfully more attractive and current yields have greatly improved the income profiles for investors.
4 MIN READ
July 31, 2022
MacKay Shields 2022 Municipal Bond Market Insights: Mid-Year Update
We believe the municipal bond market offers relatively attractive prices and yields, and credit health remains solid.
4 MIN READ
July 31, 2022
Top 5 Fixed Income Market Insights for 2022: Mid-year Update
We believe fixed income valuations are meaningfully more attractive and current yields have greatly improved the income profiles for investors.
4 MIN READ
July 31, 2022
Convertibles 2022 Mid-year Outlook
With the rise in rates, we expect more companies will be coming to market and issuing converts. As the rate differential rises between convertibles and straight bonds the quality of companies issuing converts will likely improve.
4 MIN READ
July 31, 2022
Emerging Markets Debt: 2022 Mid-year Outlook
We believe that amid the very negative overall market reaction in the first half of 2022, underlying improvements in sovereign and corporate balance sheets have not been fully reflected in valuations.
May 31, 2022
Low Delta Convertible Opportunities
Seeking to reduce interest rate and inflation risk? We see opportunities in the low delta part of the convertibles space.
5 MIN READ
May 8, 2022
After the First Quarter Shock: Investing in Emerging Market Debt
Most financial markets sold off sharply in 2022’s first quarter in response to the war in Ukraine, rising inflation and expected interest-rate hikes.
6 MIN READ
May 15, 2022
Rapid Transition to Electric Vehicles Will Upend Global Auto Industry
The global auto industry is on the cusp of a transformation.
6 MIN PODCAST
May 6, 2022
Post FOMC Roundup - Clarity from the Fed…For Now
In this Post-FOMC Roundup, we discuss the Fed’s forward guidance for the next few months and what it could mean for financial markets. Listen for more insights.
18 MIN VIDEO
APRIL 1, 2022
Panel Q&A with MacKay Analysts
The economic impact of the unfolding crisis in Ukraine is likely to be stagflationary for advanced economies, including the United States. Watch the panel discussion of our analysts.
8 MIN READ
March 7, 2022
Dislocations in the Taxable Municipal Market Today
Given the backdrop of both geopolitical tensions and changing monetary policies at a global level, we have seen elevated volatility in both the fixed income and equity markets since the beginning of the year.
6 MIN READ
May 16, 2022
Convertibles: Why Now?
At 2% of the US investment-grade market and 15% of the US high yield market, US convertibles are often overlooked by investors.