MainStay Funds Trust changes investment objective for 11 funds

By Toni Weeks

San Diego, Dec. 23 - MainStay Funds Trust announced a change in investment objective for 11 of its funds, according to a 497 filing with the Securities and Exchange Commission.

The revisions to each fund's investment objective will not affect its principal investment strategies or principal risks, the filing noted. Shareholder approval of the changes is not required.

• MainStay 130/30 Core Fund will continue to seek long-term growth of capital, but income is no longer a secondary consideration;

• MainStay 130/30 International Fund will continue to seek long-term growth of capital, but income is no longer a secondary objective;

• MainStay Balanced Fund will now seek total return instead of high total return;

• MainStay Common Stock Fund will continue to seek long-term growth of capital, but income is no longer a secondary consideration;

• MainStay Government Fund will now seek current income rather than a high level of current income, consistent with safety of principal;

• MainStay MAP Fund will continue to seek long-term appreciation of capital, but income is no longer a secondary objective;

• MainStay ICAP Global Fund will seek total return rather than a superior total return;

• MainStay Intermediate Term Bond Fund will seek total return instead of seeking to maximize total return, consistent with liquidity, moderate risk to principal and investment in debt securities;

• MainStay International Equity Fund will continue to seek long-term growth of capital but no longer commensurate with an acceptable level of risk by investing in a portfolio consisting primarily of non-U.S. equity securities. Current income is no longer a secondary objective;

• MainStay Short Term Bond Fund will seek total return instead of seeking to maximize total return, consistent with liquidity, preservation of capital and investment in short-term debt securities; and

• MainStay Tax Free Bond Fund seeks current income exempt from regular federal income tax rather than a high level of current income that is free from regular federal income tax, consistent with the preservation of capital.

Parsippany, N.J.-based New York Life Investments serves as the manager for the funds.

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