New York Life Investments Engages Wellington Management to Enhance U.S. and International Equity Fund Lineup

NEW YORK, Feb. 8, 2021 /PRNewswire/ -- New York Life Investments today announced the launch of a new relationship with Wellington Management (Wellington), one of the world's largest independent investment management firms. The relationship is designed to enhance MainStay Funds' equities lineup, with Wellington repositioning and assuming sub-advisory investment management responsibility for a suite of fundamental equity mutual funds and variable product portfolios.

"We are looking forward to engaging with Wellington to expand our equity capabilities with a number of fundamental strategies well-suited for the current market environment," said Kirk Lehneis, President of MainStay Funds and Chief Operating Officer of New York Life Investment Management. "Wellington's legacy of sustained investment strength and excellence will position us well to continue offering our clients high-quality investment strategies that meet their portfolio needs."

Wellington Management has a rich 90-year history, with over $1 trillion in assets under management. With its depth of investment research and portfolio management expertise, Wellington will augment MainStay's fund lineup with high-caliber fundamental portfolio management capabilities across equity strategies and market capitalizations, including growth, value, small cap, mid cap, and international.

"We are honored and excited to work with New York Life Investments, a firm that shares our long-term orientation and commitment to excellence and innovation," said Des Havlicek, Head of U.S. Intermediaries and Wealth for Wellington Management. "Our investment capabilities are well matched with the breadth and scale of New York Life Investments' marketing and sales organization in the U.S., and we're excited to offer their clients differentiated investment solutions that we believe can add value to their equity allocation." 

The repositioned funds and new portfolio managers will be:

About New York Life Investments

With $662 billion in Assets Under Management* as of December 31, 2020, New York Life Investments is comprised of the affiliated global asset management businesses of its parent company, New York Life Insurance Company (New York Life), and offers clients access to specialized, independent investment teams through its family of affiliated boutiques. New York Life Investments remains committed to clients through a combination of the diverse perspectives of its boutiques and a long-lasting focus on sustainable relationships. For more information, please visit newyorklifeinvestments.com.

*AUM includes assets of Investment Advisors affiliated with New York Life Insurance Company as of December 31, 2020. AUM for Candriam is converted from Euro at the spot rate as of this date. Candriam's assets under supervision includes approximately $169 billion which fall within the U.S. Securities and Exchange Commission's definition of 'regulatory AUM' in Form ADV Part 1A. The remainder of Candriam's assets under supervision consists of other non-discretionary advisory or related services.

"New York Life Investments" is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company.     

About Wellington Management

Tracing its history to 1928, Wellington Management is one of the world's largest independent investment management firms, serving as a trusted adviser to over 2,200 institutional and private clients in more than 60 countries and managing over USD 1 trillion of assets. As a private partnership whose only business is investment management, the firm is able to align its long-term views and interests with those of its clients. The firm offers comprehensive investment management capabilities that span nearly all segments of the global capital markets, including equity, fixed income, multi-asset, and alternative strategies. With more than 800 investment professionals located in offices around the world, Wellington pairs deep multi-disciplinary research resources with independent investment teams operating in an entrepreneurial "boutique" environment. For more information, please visit wellington.com.

All investments are subject to risk and will fluctuate in value.

For more information about MainStay Funds®, call 800-624-6782 for a prospectus or summary prospectus. Investors are asked to consider the investment objectives, risks, and charges and expenses of the investment carefully before investing. The prospectus or summary prospectus contains this and other information about the investment company. Please read the prospectus or summary prospectus carefully before investing. 

Investing involves risk, including loss on principal.

The MainStay Series VP portfolios are investment options only available through certain variable products offered by New York Life Insurance and Annuity Corporation ("NYLIAC") or through other insurance company products. They are different from the mutual funds that may have similar names but are available directly to the general public. Investment results will differ.

SOURCE New York Life Investments

Related Links

https://www.newyorklifeinvestments.com