Fund Description

The fund was incepted in December 1987 and is managed by New York Life Investment Management. The fund's objective is to realize current income consistent with reasonable opportunity for future growth of capital and income. The fund invests at least 30% of its net assets in U.S. equity securities, most of which have growth in revenues and earnings per share better than the average of the stocks comprising the S&P 500 Index. The fund may invest in stocks with strong growth in revenues and earnings per share. The fund may also invest in a variety of long-term debt instruments rated A or better by S&P or Moody's or, if unrated, deemed by the fund's advisor to be of comparable credit worthiness. The fund offers dividends quarterly. Capital gains are distributed in December.