New York Life Investments Partners with Fiera Capital and PineStone to Add Four Equity Strategies to its Fund Family 


NEW YORK, September 13, 2023 – New York Life Investments, today announced that it is bringing additional equity investment funds into its MainStay Fund lineup, through a strategic partnership with Fiera Capital and PineStone Asset Management, as announced earlier this year. The funds include the MainStay Fiera SMID Growth Fund (ticker: APSRX), the MainStay PineStone International Equity Fund (ticker: FCIRX), the MainStay PineStone U.S. Equity Fund (ticker: FCUEX), and the MainStay PineStone Global Equity Fund (ticker: FCGEX).

Said Kirk Lehneis, Chief Operating Officer of New York Life Investment Management and President of the MainStay Funds: 

"We are thrilled to provide investors with access to compelling, high-quality investment solutions that will help to enhance their portfolios and position them for long-term success. Fiera and PineStone’s asset management teams bring strong institutional-quality domestic and international equity investment credentials and experience to our MainStay Funds. We look forward to continuing to build on these partnerships in the future."

Added Jean-Guy Desjardins, Chairman of the Board and Chief Executive Officer, Fiera Capital:

"This partnership marks an exciting milestone for Fiera Capital as we continue to evolve our regionalized distribution model. By joining forces with New York Life Investments, we are enhancing our commitment to delivering tailored investment solutions to investors. Offering investors access to our equity expertise within the MainStay Funds framework underscores our passion for creating sustainable wealth for clients. We are excited about the opportunity to expand and strengthen these partnerships."

Nadim Rizk, Chief Executive Officer and Chief Investment Officer, PineStone Asset Management, said:

“We are thrilled to partner with New York Life Investments to offer PineStone’s strategies to a new segment of the U.S. market. In New York Life Investments, we believe we have found an organization that shares our commitment to creating value for clients. We look forward to a long and fruitful partnership.”

About the MainStay Fiera SMID Growth Fund:

The MainStay Fiera SMID Growth Fund focuses on global secular trends, with a dynamic combination of stable and emerging growth companies and a disciplined, consistent and repeatable process over multiple economic cycles.

About the PineStone Equity Funds:

The PineStone Equity Funds seek to outperform their stated benchmarks by investing in incredibly high-quality businesses that offer differentiated products or services, possess distinctive competitive advantages, and consistently demonstrate prudent capital allocation, resulting in a strong and sustainable return on invested capital (ROIC).

For more information about these funds, click here.

About New York Life Investments

With over $693 billion in Assets Under Management* as of June 30, 2023, New York Life Investments, Pensions and Investments’ 25th Largest Money Manager**, is comprised of the affiliated global asset management businesses of its parent company, New York Life Insurance Company, and offers clients access to specialized, independent investment teams through its family of affiliated boutiques. New York Life Investments remains committed to clients through a combination of the diverse perspectives of its boutiques and a long-lasting focus on sustainable relationships.

*Assets under management (AUM) includes assets of the investment advisers affiliated with New York Life Insurance Company, other than Kartesia Management and Tristan Capital Partners. As of 12/31/2022 New York Life Investments changed its AUM calculation methodology, and AUM now includes certain assets, such as non-discretionary AUM, external fund selection, and overlay services, including ESG screening services, advisory consulting services, white labeling investment management services, and model portfolio delivery services, that do not qualify as Regulatory Assets Under Management, as defined in the SEC's Form ADV. AUM is reported in USD. AUM not denominated in USD is converted at the spot rate as of 3/31/2023. This total AUM figure is less than the sum of the AUM of each affiliated investment adviser in the group because it does not count AUM where the same assets can be counted by more than one affiliated investment adviser

** On June 12, 2023, New York Life Investments was ranked #25 in Pensions & Investments’ Largest Money Managers 2023 for the time period 12/31/21 – 12/31/22. (Managers are ranked by total worldwide institutional assets under management. Full list here.) No direct or indirect compensation was paid for the creation and distribution of this ranking. For more information about ranking click here - Largest Money Managers 2023 | Pensions & Investments (

"New York Life Investments" is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company.

About Fiera Capital

Fiera Capital is a leading independent asset management firm with a growing global presence and approximately C$164.2 billion in assets under management as of June 30, 2023. Fiera Capital delivers customized and multi-asset solutions across public and private market asset classes to institutional, financial intermediary and private wealth clients across North America, Europe and key markets in Asia. Fiera Capital’s depth of expertise, diversified investment platform and commitment to delivering outstanding service are core to our mission of being at the forefront of the investment management science to foster sustainable prosperity for all our stakeholders. Fiera Capital trades under the ticker FSZ on the Toronto Stock Exchange.

Headquartered in Montreal, Fiera Capital, with its affiliates in various jurisdictions, has offices in over a dozen cities around the world, including New York (U.S.), London (UK), and Hong Kong (SAR).

Each affiliated entity (each an “Affiliate”) of Fiera Capital only provides investment advisory or investment management services or offers investment funds in the jurisdictions where the Affiliate and/or the relevant product is registered or authorized to provide services pursuant to an exemption from registration.

In the U.S., asset management services are provided by Fiera Capital’s Affiliates who are investment advisers that are registered with the U.S. Securities and Exchange Commission (the “SEC”) or exempt from registration. Registration with the SEC does not imply a certain level of skill or training. For details on the particular registration of, or exemptions therefrom relied upon by, any Fiera Capital entity, please consult this webpage.

Additional information about Fiera Capital, including Fiera Capital’s annual information form, is available on SEDAR at

About PineStone Asset Management

Based in Montreal, PineStone Asset Management Inc. is a specialist global equity manager founded in 2021 following a separation from a large independent asset manager. PineStone is 100% employee-owned and focused exclusively on helping clients achieve their financial goals by investing in what we believe to be the highest-quality companies worldwide. PineStone currently has approximately $46.2 billion in assets under management and is led by Nadim Rizk, a seasoned portfolio manager with over 25 years of experience.


Media Contacts:

New York Life Investments:                                                

Sara Guenoun                                                            Allison Scott            


Fiera Capital:

Marie-France Guay


PineStone Asset Management:

Thomas Clanc

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.

“New York Life Investments” is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company. PineStone Asset Management and Fiera Capital are not affiliated with New York Life Investment Management.

The MainStay Funds® are managed by New York Life Investment Management LLC and distributed through NYLIFE Distributors LLC, 30 Hudson Street, Jersey City, NJ 07302, a wholly owned subsidiary of New York Life Insurance Company. NYLIFE Distributors LLC is a Member of FINRA/SIPC.