NYLI MacKay Tax Free Bond Fund Investor Class (MKINX)

Overview

The fund is tailored for investors seeking to invest primarily in municipal bonds rated investment grade. Its objective encompasses the allocation of at least 80% of its assets towards municipal bonds, with an emphasis on maintaining a maturity range for these bonds between 10 to 30 years. This strategic approach ensures that the fund remains steadfastly focused on investments that offer a blend of stability and potential for steady returns. Moreover, the fund is mindful of managing potential tax liabilities for its investors, thereby limiting its exposure to tax-exempt securities that could be subject to the federal alternative minimum tax to no more than 20% of its net assets.

Products and Services

• Investment in Municipal Bonds

  The fund's primary focus is on investing in municipal bonds that are rated investment grade. This criterion ensures that investments are made in securities that are considered to be of a high credit quality, offering a balance between risk and potential returns. The investment strategy aims to capitalize on the tax-exempt nature of municipal bonds, providing an income stream that is generally free from federal income taxes for investors.

• Long-term Maturity Focus

  Emphasizing a maturity range of 10 to 30 years for its municipal bond investments, the fund is geared towards investors with a medium to long-term investment horizon. This focus on longer maturities may offer higher yield opportunities compared to shorter-term securities, albeit with an increased sensitivity to interest rate changes.

• Managed Tax-Exposure

  Understanding the significance of tax implications for its investors, the fund strategically limits its investment in tax-exempt securities that are subject to the federal alternative minimum tax to no more than 20% of its net assets. This approach is designed to mitigate the impact of this tax, optimizing the tax efficiency of the investment portfolio for its shareholders.