NYLI MacKay High Yield Muni Bond Fund Class A (MMHAX)

Overview

The described company operates as an investment fund focusing on floating rate loans and other floating rate debt securities. With a strategy that adapts to market conditions, the fund aims to invest a significant portion of its assets in a diversified portfolio of these financial instruments, providing investors with a potentially steady income source. When market or economic conditions are deemed unfavorable, the fund has the flexibility to shift up to 100% of its assets into safer, short-term debt securities or money market instruments. This approach signifies the fund's commitment to managing risk while seeking income opportunities for its investors.

Products and Services

• Floating Rate Loans and Debt Securities

  This primary offering involves investing in a variety of floating rate loans and other debt securities, which are designed to offer investors income that adjusts with market interest rates. These instruments generally provide higher yields than fixed-rate securities in rising interest rate environments, making them attractive to income-focused investors.

• Money Market and Short-term Debt Securities Investments

  In response to adverse market or economic conditions, the fund has the flexibility to pivot its investment strategy towards money market or short-term debt securities. This maneuver is aimed at preserving capital and reducing exposure to risk during turbulent times, providing a safer haven for the fund's assets.

• Foreign Securities Investments

  Up to 25% of the fund's total assets may be allocated to foreign securities, primarily U.S. dollar-denominated. These investments in debt securities issued by non-U.S. borrowers (without a U.S.-domiciled co-borrower) offer a window into international markets, potentially enhancing the portfolio's diversification and income generation capabilities while still maintaining a focus on investments denominated in U.S. dollars to mitigate currency risk.