Fund Description

The fund was incepted in January 1991 and is managed by New York Life Investment Management, LLC. The fund seeks to provide investment results that correspond to the total return performance of fixed income securities in the aggregate, as represented by the BIG Index. The fund normally invests at least 80% of its total assets in fixed income securities in the BIG Index. The BIG Index includes investment grade corporate bonds, U.S. dollar-denominated securities of foreign issuers, U.S. Treasury or agency issues, mortgage-related securities, and other securities. Corporate bonds and securities of foreign issuers must be rated BBB or better by S&P or Baa or better by Moody's. The fund declares and distributes dividends monthly and capital gains annually.