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 |