NYLI MacKay Convertible Fund;I (MCNVX)
NYLI MacKay Convertible Fund;I operates in the Asset Management industry of the Financial Services sector, headquartered in New York, NY, US. The stock last traded at $23.19, up 0.22% on the session, giving a market capitalisation of $1.89B. On trailing twelve-month figures it carries a trailing P/E of -77.30, a net margin of -29.2%. Its beta of 0.91 implies it has historically moved less than the broad market.
This fund is designed to achieve two main objectives: growth in its capital value and the generation of ongoing income. Typically, the fund allocates a minimum of 80% of its total assets (inclusive of any borrowed capital for investment purposes) to "convertible securities." This category generally encompasses debt instruments like bonds, debentures, and corporate notes, as well as preferred stocks or other financial instruments that can be exchanged for common stock, or for the cash equivalent value of a single stock, a group of stocks, or an equity index. The remainder of the portfolio may be deployed in non-convertible debt instruments, equity securities that do not provide regular dividends, U.S. government-backed securities, or cash and highly liquid equivalents.
NYLI MacKay Convertible Fund;I is most often compared with the following Financial Services names: