New York Life Investments Engages Wellington Management to Enhance U.S. and International Equity Fund Lineup
 

New York, February 8, 2021 – New York Life Investments today announced the launch of a new relationship with Wellington Management (Wellington), one of the world’s largest independent investment management firms. The relationship is designed to enhance MainStay Funds’ equities lineup, with Wellington repositioning and assuming sub-advisory investment management responsibility for a suite of fundamental equity mutual funds and variable product portfolios.
 
“We are looking forward to engaging with Wellington to expand our equity capabilities with a number of fundamental strategies well-suited for the current market environment,” said Kirk Lehneis, President of MainStay Funds and Chief Operating Officer of New York Life Investment Management. “Wellington’s legacy of sustained investment strength and excellence will position us well to continue offering our clients high-quality investment strategies that meet their portfolio needs.” 
 

Wellington Management has a rich 90-year history, with over $1 trillion in assets under management. With its depth of investment research and portfolio management expertise, Wellington will augment MainStay’s fund lineup with high-caliber fundamental portfolio management capabilities across equity strategies and market capitalizations, including growth, value, small cap, mid cap, and international.

“We are honored and excited to work with New York Life Investments, a firm that shares our long-term orientation and commitment to excellence and innovation,” said Des Havlicek, Head of U.S. Intermediaries and Wealth for Wellington Management. “Our investment capabilities are well matched with the breadth and scale of New York Life Investments’ marketing and sales organization in the U.S., and we’re excited to offer their clients differentiated investment solutions that we believe can add value to their equity allocation.” 

The repositioned funds and new portfolio managers will be:

  

Mutual Funds

Portfolio Manager(s)

MainStay WMC Enduring Capital Fund

Mark Whitaker

MainStay WMC Growth Fund

Andrew Shilling

MainStay WMC Value Fund

Adam Illfelder

MainStay WMC Small Companies Fund

Peter Carpi

MainStay WMC International Research Equity Fund

Mary Pryshlak, Jonathan White

VP Portfolios

Portfolio Manager(s)

MainStay VP Wellington U.S. Equity Portfolio

Mammen Chally, Doug McLane, David Siegle

MainStay VP Wellington Growth Portfolio

Andrew Shilling

MainStay VP Wellington Small Cap Portfolio

Gregg Thomas, Roberto Isch

MainStay VP Wellington Mid Cap Portfolio

Philip Ruedi, Mark Whitaker, Gregory Garabedian

 

About New York Life Investments

With $662 billion in Assets Under Management* as of December 31, 2020, New York Life Investments is comprised of the affiliated global asset management businesses of its parent company, New York Life Insurance Company (New York Life). New York Life Investments offers clients access to specialized, independent investment teams through its family of affiliated boutiques and remains committed to its clients through a combination of the diverse perspectives of its boutiques and a long-lasting focus on sustainable relationships.

New York Life Insurance Company (www.newyorklife.com), a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States** and one of the largest life insurers in the world. Headquartered in New York City, New York Life Insurance Company's family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Insurance Company has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies***.

*AUM includes assets of Investment Advisors affiliated with New York Life Insurance Company as of December 31, 2020. AUM for Candriam and Ausbil is reported at the spot rate.

**Based on revenue as reported by "Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual)," Fortune magazine, 5/18/20. For methodology, please see http://fortune.com/fortune500/.
 

About Wellington Management

Tracing its history to 1928, Wellington Management is one of the world’s largest independent investment management firms, serving as a trusted adviser to over 2,200 institutional and private clients in more than 60 countries and managing over USD 1 trillion of assets. As a private partnership whose only business is investment management, the firm is able to align its long-term views and interests with those of its clients. The firm offers comprehensive investment management capabilities that span nearly all segments of the global capital markets, including equity, fixed income, multi-asset, and alternative strategies. With more than 800 investment professionals located in offices around the world, Wellington pairs deep multi-disciplinary research resources with independent investment teams operating in an entrepreneurial “boutique” environment. For more information, please visit wellington.com.

 

All investments are subject to risk and will fluctuate in value.

For more information about MainStay Funds®, call 800-624-6782 for a prospectus or summary prospectus. Investors are asked to consider the investment objectives, risks, and charges and expenses of the investment carefully before investing. The prospectus or summary prospectus contains this and other information about the investment company. Please read the prospectus or summary prospectus carefully before investing. 

Investing involves risk, including loss on principal.

The MainStay Series VP portfolios are investment options only available through certain variable products offered by New York Life Insurance and Annuity Corporation ("NYLIAC") or through other insurance company products. They are different from the mutual funds that may have similar names but are available directly to the general public. Investment results will differ.

Media contacts:

 

New York Life Investments & MainStay Funds:
Netanel Spero
(917) 543-5962
 Netanel_D_Spero@newyorklife.com

Allison Scott
(917) 579-8914
Allison_Scott@nylim.com

Prosek Partners (On behalf of Wellington Management)
Mike Geller
914-715-8901
Pro-wellington@prosek.com