NYLI MacKay Strategic Muni Allocation Fund (MTFGX) is a “turn-key”, actively managed investment solution. MTFGX offers investors comprehensive exposure across all segments of the municipal bond market – looking to capitalize on market conditions and relative value opportunity.
Opportunistic Weightings Across Investment Grade and High Yield
Objective: Income Preservation (moderate) - High Yield % Allocation
Source: MacKay Municipal Managers, as of 9/30/24. Chart shows change in MacKay Municipal recommended high yield allocation with change in high yield municipal bond spread. Please see definitions below. Returns represent past performance which is no guarantee of future results. An investment cannot be made directly into an index.
Interview with John Loffredo: NYLI MacKay Strategic Muni Allocation Fund
Hear from John Loffredo, Vice Chairman and Co-Head of MacKay Municipal Managers, for his expert insight on the NYLI MacKay Strategic Muni Allocation Fund.
Consider NYLI MacKay Strategic Muni Allocation Fund
Flexible mandate
Investment grade strategy with a flexible mandate to opportunistically invest up to 35% in high yield securities.
Relative value strategy
The team relies on credit analysis, yield curve positioning, and sector rotation to uncover the most compelling opportunities.
Tenured team
The co-heads have worked together since 1993 and leverage their long-term relationships with municipal dealers to help drive success.
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Definitions:
% HY Allocation – Percentage allocation of a portfolio towards high-yield bonds.
High yield municipal bond spread – Difference in yield between high-yield municipal bonds and comparable US Treasury securities. It is a measure of the credit risk premium for investing in high-yield municipal bonds.
About Risk
Municipal bond risks include the ability of the issuer to repay the obligation, the relative lack of information about certain issuers, and the possibility of future tax and legislative changes, which could affect the market for and value of municipal securities.
A portion of the Fund's income may be subject to state and local taxes or the alternative minimum tax.
Income from municipal bonds held by the Fund could be declared taxable because of unfavorable changes in tax law, adverse interpretations by the Internal Revenue Service or state tax authorities, or noncompliant conduct of a bond issuer.
High-yield municipal bonds may be subject to increased liquidity risk as compared to other high-yield debt securities.
The Fund may invest in derivatives, which may increase the volatility of the Fund's NAV.
Funds that invest in bonds are subject to interest-rate risk and can lose principal value when interest rates rise. Bonds are also subject to credit risk, in which the bond issuer may fail to pay interest and principal in a timely manner.