New York Life Investments, whose parent company is New York Life Insurance Company, boasts a history of over 175 years and managed assets worth $725 billion as of Mar 31, 2024. It provides a diverse range of investment opportunities in equities, fixed-income, and alternative investments with a focus on growth, income generation and experienced management supported by research and analysis. Their strong risk management practices, dedication to sustainable investing through ESG factors and client-centric approach make New York Life Investments a trusted choice for investments.
Investing in NY Life Investments mutual funds seems to be judicious as of now. Also, mutual funds, in general, diversify portfolios without several commission charges that are mainly associated with stock purchases and trim transaction costs (read more: Mutual Funds: Advantages, Disadvantages, and How They Make Investors Money).
We have, thus, chosen three NY Life Invest mutual funds that investors should buy now for the long term. These funds possess a Zacks Mutual Fund Rank #1 (Strong Buy) or 2 (Buy), have positive three-year and five-year annualized returns, minimum initial investments within $5000, and expense ratios considerably lower than the category average. So, these funds have provided a comparatively strong performance along with lower fees.
MainStay Epoch Capital Growth Fund (MECDX – Free Report) invests the majority of its assets and borrowings in equity securities of companies across all market capitalizations. MECDX advisors also invest in securities issued by companies situated in emerging markets.
Steven D. Bleiberg has been the lead manager of MECDX since Jun 30, 2016. Most of the fund’s holdings were in companies like Ameriprise Financial Inc. (1.8%), Alphabet Inc. (1.8%) and Costco Wholesale Corp (1.8%) as of Apr 30, 2024.
MECDX ‘s 3-year and 5-year annualized returns are 8% and 14.8%, respectively. MECDX has a Zacks Mutual Fund Rank #1. Its net expense ratio is 1.15%.
To see how this fund performed compared to its category, and other 1 and 2 Ranked Mutual Funds, please click here.
MainStay Winslow Large Cap Growth Fund (MLACX – Free Report) seeks to invest most of its net assets in large-capitalization companies. MLACX advisors also invest in domestic and foreign securities.
Justin H. Kelly has been the lead manager of MLACX since Oct 28, 2005. Most of the fund’s holdings were in companies like Microsoft Corp (11.5%), Amazon.com, Inc. (7.8%) and Apple Inc. (7%) as of Jan 31, 2024.
MLACX’s 3-year and 5-year annualized returns are 8.3% and 15.9%, respectively. MLACX has a Zacks Mutual Fund Rank #2. Its net expense ratio is 1.94%.
MainStay WMC Enduring Capital Fund (MSOAX – Free Report) invests the majority of its assets and borrowings in common stocks of U.S. companies, which fall within the range of the S&P 500 Index.
Mark A. Whitaker has been the lead manager of MSOAX since Mar 5, 2021. Most of the fund’s holdings were in companies like Constellation Software Inc. (7.8%), NVR, Inc. (5.2%) and PACCAR Inc. (4.9%) as of Jan 31, 2024.
MSOAX’s 3-year and 5-year annualized returns are 7.7% and 13%, respectively. MSOAX has a Zacks Mutual Fund Rank #2. Its net expense ratio is 0.94%.
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