MainStay MacKay Convertible Fund Class B (MCSVX)
MainStay MacKay Convertible Fund Class B operates in the Asset Management industry of the Financial Services sector, headquartered in New York, NY, US. The stock last traded at $18.68, up 0.59% on the session, giving a market capitalisation of $1.53B. On trailing twelve-month figures it carries a trailing P/E of -62.27, a net margin of -29.2%. Its beta of 0.82 implies it has historically moved less than the broad market.
The fund seeks to achieve both capital growth and a consistent income stream. Typically, at least 80% of its total assets—calculated as net assets plus any borrowed funds for investment—are committed to "convertible securities." Such investments, which include bonds, debentures, corporate notes, and preferred stocks, offer the option to convert into common stock or the cash equivalent of a stock, or even a basket or index of equity securities. The balance of the portfolio may be held in other assets, such as non-convertible debt, non-dividend-paying equity securities, U.S. government securities, or cash and its equivalents.
MainStay MacKay Convertible Fund Class B is most often compared with the following Financial Services names: