Products June 17, 2013

MainStay Launches Retirement Share Class

June 17, 2013 (PLANSPONSOR.com) - MainStay Investments, a New York Life company, is now offering many of its mutual funds as a non-revenue share class (R6 Shares).
Reported by

The new R6 Shares offer pricing structures that are more aligned with the retirement plan market and are available June 17, for the following funds: 

 

  • MainStay Epoch Global Equity Yield Fund; 
  • MainStay High Yield Corporate Bond Fund; 
  • MainStay ICAP Select Equity Fund; 
  • MainStay Large Cap Growth Fund (reopened to investors in the DCIO channel earlier this year); and 
  • MainStay Marketfield Fund. 

 

  

“The announcement of the R6 share class reflects our commitment to offering MainStay Funds to the DCIO market,” said Tom Smythe, director and head of New York Life’s defined contribution investment-only channel (DCIO). “By allowing qualified plan sponsors to separate investment management fees from recordkeeping and administrative fees, the R6 share class broadens the number of qualified plans that can offer MainStay Funds.”  

MainStay’s new R6 Shares will be offered at net asset value (NAV) without front-end sales charges, contingent deferred sales charges (CDSC), or 12b-1 fees.

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