New York Life Investments, which was established in 1986 and whose parent company is New York Life Insurance Company, manages $687 billion in assets. Offering a diverse range of mutual funds with an average expense ratio of 1.07%, the company provides clients access to specialized investment teams through its affiliated boutiques. With over half of its mutual funds falling within this cost-effective range, New York Life Investments combines financial expertise with a commitment to building sustainable, long-term relationships, making it a compelling choice for investment.

Investing in NY Life Invest mutual funds seems to be judicious as of now. Also, mutual funds, in general, diversify portfolios without several commission charges that are mainly associated with stock purchases and trim transaction costs (read more: Mutual Funds: Advantages, Disadvantages, and How They Make Investors Money).

We have, thus, chosen three NY Life Invest mutual funds that investors should buy now for the long term. These funds possess a Zacks Mutual Fund Rank #1 (Strong Buy) or 2 (Buy), have positive three-year and five-year annualized returns, minimum initial investments within $5000, and expense ratios considerably lower than the category average. So, these funds have provided a comparatively strong performance along with lower fees.

MainStay Winslow Large Cap Growth Fund (MLACX Quick QuoteMLACX - Free Report) seeks to invest most of its net assets in large-capitalization companies. MLACX advisors also invest in domestic and foreign securities.

Justin H. Kelly has been the lead manager of MLACX since Oct 27, 2005. Most of the fund's holdings were in companies like Microsoft Corp (11.2%), Apple Inc (7.8%) and NVIDIA Corp (7%) as of Jun 31, 2023.

MLACX’s 3-year and 5-year annualized returns are 5.9% and 16.4%, respectively. MLACX has a Zacks Mutual Fund Rank #1. Its net expense ratio is 1.96%.

To see how this fund performed compared to its category, and other 1 and 2 Ranked Mutual Funds, please click here.

MainStay Epoch Capital Growth Fund (MECDX Quick QuoteMECDX - Free Report) invests the majority of its assets and borrowings in equity securities of companies across all market capitalizations. MECDX advisors also invest in securities issued by companies situated in emerging markets.

Steven D. Bleiberg has been the lead manager of MECDX since Jun 29, 2016. Most of the fund's holdings were in companies like BE Semiconductor Industries N.V. (1.8%), Alphabet Inc. (1.8%) and Meta Platforms, Inc. (1.6%) as of Jul 31, 2023.

MECDX 's 3-year and 5-year annualized returns are 9.4% and 16.8%, respectively. MECDX has a Zacks Mutual Fund Rank #1. Its net expense ratio is 1.15%.

MainStay WMC Enduring Capital Fund (MSOAX Quick QuoteMSOAX - Free Report) invests the majority of its assets and borrowings in common stocks of U.S. companies, which fall within the range of the S&P 500 Index.

Mark A. Whitaker has been the lead manager of MSOAX since Mar 4, 2021. Most of the fund's holdings were in companies like Constellation Software Inc (6.4%), NVR, Inc. (5.1%) and Markel Corp (5%) as of Jul 31, 2023.

MSOAX's 3-year and 5-year annualized returns are 11.3% and 14.7%, respectively. MSOAX has a Zacks Mutual Fund Rank #2. Its net expense ratio is 0.93%.

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