NYLI MacKay Tax Free Bond Fund Class A is a mutual fund designed to provide investors with current income that is exempt from regular federal income tax. The fund primarily invests in investment-grade municipal bonds, which are debt securities issued by states, local governments, or their agencies for public projects. Its core strategy employs credit analysis, yield curve positioning, and sector rotation to identify attractive opportunities while maintaining a firm focus on risk management. The fund does not use leverage or make directional interest rate bets, and it maintains a diversified portfolio with a long average maturity, typically between 10 and 30 years. Managed by an experienced team since 1993, it emphasizes high credit quality—often holding a significant portion of assets in bonds rated AA or higher—thereby addressing conservative investors’ needs for tax-advantaged yield with controlled risk. With monthly income distributions and a dynamic approach to municipal investing, the NYLI MacKay Tax Free Bond Fund Class A plays a significant role in the U.S. fixed income market by facilitating broader access to tax-free municipal income for individual and institutional investors.
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