NYLI MacKay High Yield Muni Bond Fund Class C (MMHDX)

Overview

The company focuses on investing primarily in municipal bonds, aiming to allocate at least 80% of its assets towards these financial instruments. The strategy is designed to cater to investors seeking exposure to the municipal bond market, with an emphasis on investments that might include various risk categories, including those involved in bankruptcy proceedings, in default, or those having low credit ratings. It is tailored for individuals or entities looking to diversify their investment portfolios with municipal bonds, which are often valued for their tax-exempt status in many jurisdictions.

Products and Services

• Municipal Bond Investments

  The core offering involves allocating at least 80% of the fund's assets towards municipal bonds, which are securities issued by cities, states, counties, or other governmental entities to finance their day-to-day operations and to finance projects like schools, highways, and sewer systems. These bonds are attractive to investors due to their tax-exempt status, providing a potential source of steady, tax-free income.

• High-Risk Municipal Bond Investments

  Up to 10% of the fund's net assets may be invested in municipal bonds that are considered to be of higher risk. This includes bonds that are currently in bankruptcy proceedings, in default regarding the payment of principal or interest, or those rated in the lowest rating category by a Nationally Recognized Statistical Rating Organization (NRSRO). For unrated bonds, the subadvisor’s assessment will determine comparability to the lowest rated bonds. This service caters to investors seeking potentially higher returns from investments in municipal bonds that carry a higher risk and a higher reward profile.