NYLI MacKay Arizona Muni Fund Class Z is an open-end municipal bond mutual fund focused on generating current income that is exempt from federal and Arizona state income taxes. The portfolio invests at least 80% of assets in Arizona-issued or Arizona-focused municipal securities, emphasizing credit research, yield-curve positioning, and sector rotation to identify relative value across the state and its revenue-backed issuers. The strategy is managed by a tenured municipal team and is designed with a risk-managed approach that avoids leverage and explicit interest-rate bets. The fund distributes income monthly and holds a diversified basket of municipal obligations spanning essential-services revenue bonds, general obligation debt, and other tax-exempt instruments. Following a 2024 reorganization, it carries forward the historical profile of its predecessor Arizona tax-free strategy, maintaining continuity in objective and regional focus. The fund’s role in the market is to provide tax-advantaged income tied to the fiscal dynamics of Arizona’s municipalities, offering investors targeted exposure to state and local infrastructure, education, healthcare, and transportation financing.
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