NYLI MacKay Convertible Fund Investor Class (MCINX)

This fund's objective is to achieve both long-term capital growth and a steady stream of income. Under typical market conditions, it dedicates at least 80% of its total assets (which includes any funds borrowed for investment) to "convertible securities." These encompass a range of financial instruments, such as bonds, debentures, corporate notes, and preferred stocks, all designed to be exchangeable into common stock or a cash equivalent value tied to an individual stock, a group of stocks, or an equity index. The remaining portion of the portfolio may be allocated to non-convertible debt, equity holdings that do not provide regular dividends, U.S. government debt instruments, or highly liquid assets like cash.