MacKay Shields Strategic Bond Composite (S:0P000178HR)
18.14
+0.35
(+1.95%)
USD |
May 31 2024
Returns Chart
Sep '18
Jan '19
May '19
285.00
270.00
255.00
240.00
Key Stats
| Maximum Management Fee | Annualized Total Returns Since Inception (Daily) | Alpha (vs Category) (3Y) | Forecasted Dividend Yield |
|---|---|---|---|
| Upgrade | Upgrade | Upgrade | Upgrade |
| Total Market Value (Net) | Beta (vs Category) (3Y) | Max Drawdown (Since Inception) | Fwd Dividend Yield (Long) |
| Upgrade | Upgrade | Upgrade | Upgrade |
Basic Info
| Investment Strategy | |
| The Global Fixed Income Team has been managing the Unconstrained Bond strategy since November 2009 when they took over management of the currently sub-advised MainStay Unconstrained Bond Fund. The inception date of the Unconstrained Bond Composite is January 1, 2010. Unconstrained Bond is a total return strategy that seeks to exploit opportunities in the global bond markets through a process of multi-sector asset allocation. The strategy invests primarily in debt securities and debt-related derivative instruments offering relatively attractive current market yields based on current and projected economic and market conditions. |
| General | |
| Security Type | Separately Managed Account |
| Equity Style | Small Cap/Value |
| Fixed Income Style | -- |
| Broad Asset Class | Taxable Bond |
| Broad Category | Fixed Income |
| Category Name | Nontraditional Bond |
| Category Index | ICE BofA USD 3M Dep OR CM TR USD |
| Global Category Name | US Fixed Income |
| YCharts Categorization | US Fixed Income |
| YCharts Benchmark | Bloomberg US Aggregate (^BBUSATR) |
| Fund Owner Firm Name | MacKay Shields LLC |
| Prospectus Benchmark Index | |
| Bloomberg US Agg Bond IR USD | 100.0% |
| Broad Asset Class Benchmark Index | |
| ^BBUSATR | 100.0% |
| Manager Tenure | |
| Neil Moriarty | 6.42 yrs |
| Michael DePalma | 5.13 yrs |
| Thomas Musmanno, CFA | 3.14 yrs |
| Lesya Paisley | 3.01 yrs |
Annual Total Returns Versus Peers
As of May 31, 2024.
Asset Allocation
Top 10 Holdings
| Name | % Weight | Price | % Change |
|---|---|---|---|
|
Euro Schatz Future June 24
|
15.50% | -- | -- |
|
2 Year Treasury Note Future June 24
|
14.99% | -- | -- |
|
Ultra 10 Year US Treasury Note Future June 24
|
14.76% | -- | -- |
|
United States Treasury Notes 4%
|
4.31% | -- | -- |
|
5 Year Treasury Note Future June 24
|
1.73% | -- | -- |
|
United States Treasury Notes 1.375%
|
1.56% | -- | -- |
|
Ultra US Treasury Bond Future June 24
|
1.00% | -- | -- |
|
CONNECTICUT AVENUE SECURITIES TRUST 8.4204%
|
0.67% | -- | -- |
|
US Treasury Bond Future June 24
|
0.65% | -- | -- |
|
Freddie Mac Stacr Remic Trust 8.3204%
|
0.63% | -- | -- |
Fees & Availability
| Fees | |
| Negotiable Fee |
|
| Administrative Fee | -- |
| Maximum Management Fee | Upgrade |
| Prospectus Custodian Fee | -- |
| Trustee Fee | -- |
| Purchase Details | |
| Open to New Investors |
|
| Open to Existing Investors |
|
| Minimum Initial Investment | -- |
| Minimum Subsequent Investment | -- |
Basic Info
| Investment Strategy | |
| The Global Fixed Income Team has been managing the Unconstrained Bond strategy since November 2009 when they took over management of the currently sub-advised MainStay Unconstrained Bond Fund. The inception date of the Unconstrained Bond Composite is January 1, 2010. Unconstrained Bond is a total return strategy that seeks to exploit opportunities in the global bond markets through a process of multi-sector asset allocation. The strategy invests primarily in debt securities and debt-related derivative instruments offering relatively attractive current market yields based on current and projected economic and market conditions. |
| General | |
| Security Type | Separately Managed Account |
| Equity Style | Small Cap/Value |
| Fixed Income Style | -- |
| Broad Asset Class | Taxable Bond |
| Broad Category | Fixed Income |
| Category Name | Nontraditional Bond |
| Category Index | ICE BofA USD 3M Dep OR CM TR USD |
| Global Category Name | US Fixed Income |
| YCharts Categorization | US Fixed Income |
| YCharts Benchmark | Bloomberg US Aggregate (^BBUSATR) |
| Fund Owner Firm Name | MacKay Shields LLC |
| Prospectus Benchmark Index | |
| Bloomberg US Agg Bond IR USD | 100.0% |
| Broad Asset Class Benchmark Index | |
| ^BBUSATR | 100.0% |
| Manager Tenure | |
| Neil Moriarty | 6.42 yrs |
| Michael DePalma | 5.13 yrs |
| Thomas Musmanno, CFA | 3.14 yrs |
| Lesya Paisley | 3.01 yrs |
Fundamentals
Fund Details
| Key Dates | |
| Inception Date | 1/4/2010 |
| Last Annual Report Date | 12/31/2023 |
| Last Prospectus Date | -- |
| Attributes | |
| Index Fund | No |
| Inverse Fund | No |
| Leveraged Fund | No |
| Fund of Funds | No |
| Currency Hedged Fund | No |
| Synthetic Replication Fund | No |
| Has Dividend Investment Plan | No |
| Socially Responsible Fund | No |