Fund Description

The fund was incepted in February 1997 and is managed by New York Life Investment Management. The objective of this fund is to provide current income and competitive overall return by investing primarily in domestic and foreign debt securities. The fund managers intend to focus primarily on U.S. government and domestic investment grade securities, high-yield corporate bonds and international debt securities seeking to combine high quality, higher return potential and broad diversification by country, currency, industry and type of security. Ongoing economic and market monitoring, fundamental research, relative-value analysis and individual security selection allows the fund advisors to identify promising countries, bond market sectors and securities. The fund offers dividends monthly. Capital gains are distributed in December.