Fixed Income Investors (FII) provides a broad array of investment advisory services to affiliated insurance companies’ general and separate accounts and other affiliated corporate entities: third-party institutional clients, investment companies and other pooled investment vehicles. It also serves as collateral manager to certain special purpose vehicles, including, but not limited to, collateralized loan obligations. In addition, the depth of our experience and management expertise in the New York Life general account can be leveraged across third-party portfolios of middle to large insurance companies.
Investment Grade Portfolio Management
The Investment Grade Portfolio Management team is responsible for managing all multi-sector and single-sector investment grade third-party fixed income portfolios, including institutional separate accounts and retail mutual funds. The investment decisions for all third-party portfolios are made by the team in conjunction with the sector specialists. As it relates to specific issuers and issues, the sector specialists and analysts have significant input and discretion so long as the security in question fits the overall strategy of the portfolio. However, the ultimate trading decisions are made by the team in accordance with client-specific investment guidelines.
Institutional Strategy Offerings
MainStay Funds (Retail)
The Investment Grade Portfolio Management team is the Stable Value manager for our third-party institutional clients with approximately $10 billion in assets under management as of March 31, 2020. We offer a wide of variety of structures to meet the needs of our clients, including:
- Customizing portfolios in a variety of strategies and benchmarks
- Employing a sophisticated risk-controlled investment process
- Commitment to delivering exceptional client service through timely reporting and communications
Our disciplined investment process is embedded in our corporate culture, and when paired with our active management process, is designed to provide our clients with results that exceed their expectations.
High Yield Credit
The High Yield Credit team with an average of over 20 years of experience is responsible for managing high yield bonds and floating rate loans. The team’s bottom-up fundamental research capability underpins the development of a highly diversified portfolio with an emphasis on high current income, principal preservation and credit loss avoidance. Performance consistency and stability are stressed through adding incremental return over time through prudent credit selection and risk management rather than seeking to add an excessive amount of return by taking on disproportionate risk levels.
MainStay Funds (Retail)
Collateralized Loan Obligations (CLOs)
NYL Investors LLC and certain of its affiliates serve as collateral managers for certain special purpose vehicles including, but not limited to, collateralized loan obligations. Learn more at www.nylinvestments.com/nylimcdo.
The Structured Finance team is responsible for the analysis and trading of structured products. The team is organized by sector with specializations in transportation equipment including aviation, railcar and container finance, collateralized loan obligations, RMBS, consumer finance, and specialty finance. The team’s evaluation process relies heavily on a team managed investment approach with bottom-up fundamental research guiding investment decisions. Analysts are organized by sector, and specialize in each of the sectors they cover. First person analysis is performed on a bond by bond basis. Sector specialists are separated by structured products sector and perform fundamental and technical analysis to determine value-add investment opportunities.
The team focuses on the following sectors:
- CMBS/RMBS/Residential ABS*
- International RMBS
- Credit Cards
- Equipment Financing
- Rail Cars
Short Term Investments
The Short-Term Investment team currently manages cash investments for a variety of clients with different objectives and constraints. The investment process is managed by a team of sector specialists and credit analysts and is designed with the objective of providing the client with preservation of capital, liquidity and income within the prescribed objectives and constraints provided by the client to the team.
MainStay Funds (Retail)
1 The MainStay Funds may be offered and sold only to persons in the United States. U.S. residents may call 1-800-MAINSTAY for a prospectus, and, if available, a summary prospectus. Investors are asked to consider the investment objectives, risks, and charges and expenses of the investment carefully before investing. The prospectus, and, if available, a summary prospectus, contains this and other information about the investment company. Please read the prospectus, and, if available, a summary prospectus, carefully before investing.
Securities distributed by NYLIFE Distributors LLC,30 Hudson Street, Jersey City, New Jersey 07302. All mutual funds are subject to market risk and will fluctuate in value.
* CMBS/RMBS/Residential ABS: Collateralized Mortgage-Backed Securities/Residential Mortgage-Backed Securities/Residential Asset-Backed Securities.