A MainStay news release said that the fund-of-funds feature risk-based portfolio allocations and employ an institutional investment approach based on the principles of asset allocation, diversification and rebalancing.
MainStay Asset Allocation Funds are managed according to a process that factors in expected return, risk characteristics and correlations among the individual component funds, according to the company. Each fund follows pre-established allocation parameters, which correspond to different risk/reward categories, enabling investors to select the portfolio that most closely meets their financial goals and risk tolerance.
Among the 12 funds included in the allocations are
- MainStay Large Cap Growth Fund
- MainStay All Cap Growth Fund
- MainStay Common Stock Fund
- MainStay Map Fund
- MainStay Small Cap Opportunity Fund
- MainStay Small Cap Value Fund
- MainStay Value Fund
- MainStay International Equity Fund
- MainStay Floating Rate Fund
- MainStay High Yield Corporate Bond Fund
- MainStay Intermediate Term Bond Fund
- MainStay Indexed Bond Fund.
“The MainStay Asset Allocation Funds were designed in response to the growing need for a complete investment solution among financial advisors and consumers – especially consumers with small- to mid-size investment portfolios,” said Chris Blunt, president of MainStay Investments, in the announcement. “The funds use the three core components of institutional investing – asset allocation, diversification and portfolio rebalancing – as essential elements of their investment strategy. Individually, these core components can be extremely valuable tools. Collectively, they position a portfolio for potential long-term investment success. And, that’s what investors are ultimately after.”
More information is at www.mainstayfunds.com .