MainStay Short Term Bond Fund Class I (MIXIX)
MainStay Short Term Bond Fund Class I operates in the Asset Management - Bonds industry of the Financial Services sector, headquartered in New York, NY, US. The stock last traded at $9.05, up 0.11% on the session, giving a market capitalisation of $126.1M. Its beta of 0.26 implies it has historically moved less than the broad market.
The fund aims to provide a steady stream of income while also safeguarding its principal. Typically, it invests a minimum of 80% of its total assets (including net assets and any borrowed capital used for investment) in various debt securities. Furthermore, at least 80% of its net assets are specifically allocated to investment-grade quality bonds. The quality of these bonds is determined by ratings from nationally recognized statistical rating organizations (NRSROs) or, if unrated, by the comparable judgment of NYL Investors LLC, the fund's Subadvisor. The fund also has the option to commit up to 20% of its net assets to bonds that are rated below investment grade by an NRSRO, which are often called "high yield" or "junk" bonds.
MainStay Short Term Bond Fund Class I is most often compared with the following Financial Services names: