MainStay Epoch International Choice Fund

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Overview

MainStay Epoch International Choice Fund seeks total return.

Focus on cash flow

The Subadvisor invests in companies with a history of generating free cash flow, and management teams committed to using that cash to increase shareholder value.

Risk management in portfolio construction

The team employs a comprehensive risk management discipline designed to limit security and portfolio level risk.

Fundamental and quantitative insights

Combining two analytical perspectives enhance the breadth and depth of coverage.

Performance

Class A & INV: 5.5% maximum initial sales charge; a 1% CDSC may be imposed on certain redemptions made within 18 months of the date of purchase on shares that were purchased without an initial sales charge. Class C: 1% CDSC if redeemed within one year. Class I: No initial sales charge or CDSC.

Returns represent past performance which is no guarantee of future results. Current performance may be lower or higher. Investment return and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. No initial sales charge applies on investments of $1 million or more (and certain other qualified purchases). However, a contingent deferred sales charge of 1.00% may be imposed on certain redemptions made within 18 months of the date of purchase on shares that were purchased without an initial sales charge. Expenses stated are as of the fund's most recent prospectus.

Portfolio

Top Sectors (%)

Distribution & Yields

Distributions may be comprised of ordinary income, net capital gains, and/or a return of capital (ROC) of your investment in the fund. Because the distribution rate and the 12-month rate may include a ROC, they should not be confused with yield or income. Please refer to the most recent Section 19 Notice, if applicable, for additional information regarding the composition of distributions. Final determination of a distribution’s tax character will be made on Form 1099 DIV sent to shareholders each January.

Distribution Rate: The distribution rate measures the percentage return in the form of dividends. It is calculated daily by annualizing the most recent dividend distribution and dividing by the daily share price (NAV or POP). If the Fund did not make a distribution as of the latest scheduled distribution date, "N/A" will be displayed.

12-month Rate: The 12-month rate measures the percentage return in the form of dividends. It is calculated monthly by taking the sum of the trailing 12-month dividend payments divided by the last month's ending share price (NAV or POP) plus any capital gains distributed over previous 12 months. If the Fund did not make any distributions over the previous 12 months, "N/A" will be displayed.

The 30 Day SEC Yield is calculated by dividing the net investment income per share for the first 30 days of the month by the offering price per share at the end of that period. The yield reflects the dividends and interest earned during the period, after the deduction of the Fund's expenses. Yield reflects a fee waiver and/or expense limitation agreement without which the 30 Day SEC Yield would have been lower.

Dividend distributions are the distribution of a dividend to mutual fund shareholders as of a certain date. The following Funds declare daily dividends: MainStay MacKay California Tax Free Opportunities, MainStay Floating Rate, MainStay MacKay High Yield Municipal Bond, MainStay MacKay U.S. Infrastructure Bond Fund, MainStay Money Market, MainStay MacKay New York Tax Free Opportunities, MainStay MacKay Short Term Municipal Fund and MainStay MacKay Tax Free Bond.

Click here for MainStay Funds sales charge and breakpoint information.

Fees & Expenses

Team

Global equity manager with a distinct perspective on the long-term drivers of shareholder return.

Global asset management firm that manages U.S., non-U.S. and global equity strategies for institutional and intermediary clients; their investment strategy is based on fundamental research and seeks to invest in companies that can grow free cash flow and allocate it effectively for the benefit of shareholders.

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William Booth

Managing Director

Michael Welhoelter

Managing Director

Glen Petraglia

Managing Director

Nikolay Petrakov

Managing Director, Portfolio Manager and Equity Research Analyst

Literature

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MainStay Epoch International Choice Fund Class A: ICEVX | Class C: ICEWX | Class I: ICEUX | Class INV: ICELX | Class SI: ICERX

BEFORE YOU INVEST

Before considering an investment in the Fund, you should understand that you could lose money.

The Fund invests in a limited number of securities. By concentrating in a smaller number of investments, the Fund’s risk is increased because each investment has a greater effect on the Fund’s performance.

The principal risk of investing in value funds is that the price of the security may not approach its anticipated value.

Foreign securities are subject to interest rate, currency exchange rate, economic, and political risks. These risks may be greater for emerging markets.

Investing in mid-cap stocks may carry more risk than investing in stocks of larger, more well-established companies.

Investment in REITs carries with it many of the risks associated with direct ownership of real estate, including decline in property values, extended vacancies, increases in property taxes, and changes in interest rates.

Issuers of convertible securities may not be as financially strong as those issuing securities with higher credit ratings and are more vulnerable to changes in the economy.

The Fund may invest in derivatives, which may increase the volatility of the Fund's NAV and may result in a loss to the Fund.

MSCI EAFE® Index consists of international stocks representing the developed world outside of North America.

An investment cannot be made directly into an index.

Standard Deviation measures how widely dispersed a fund's returns have been over a specified period of time. A high standard deviation indicates that the range is wide, implying greater potential for volatility.

Alpha measures a fund's risk-adjusted performance and is expressed as an annualized percentage.

Beta is a measure of historical volatility relative to an appropriate index (benchmark) based on its investment objective. A beta greater than 1.00 indicates volatility greater than the benchmark's.

R-Squared measures the percentage of a fund's movements that result from movements in the index.

Sharpe Ratio shown is calculated for the past 36-month period by dividing annualized excess returns by annualized standard deviation.

Annual Turnover Rate is as of the most recent annual shareholder report.

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The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance (this does not include the effects of sales charges, loads, and redemption fees). The top 10% of products in each product category receive 5stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Overview

Overview

Performance

Performance

Portfolio

Portfolio

Distribution & Yields

Distribution & Yields

Fees & Expenses

Fees & Expenses

Team

Team

Literature

Literature

BEFORE YOU INVEST

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