MainStay PineStone U.S. Equity Fund
Name
As of 05/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
0.6%
1 yr return
14.1%
3 Yr Avg Return
6.9%
5 Yr Avg Return
N/A
Net Assets
$203 M
Holdings in Top 10
55.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.95%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 10.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 05/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
FCUEX - Profile
Distributions
- YTD Total Return 0.6%
- 3 Yr Annualized Total Return 6.9%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.09%
- Dividend Yield 0.2%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameMainStay PineStone U.S. Equity Fund
-
Fund Family NameMainStay Group of Funds
-
Inception DateSep 30, 2019
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerAndrew Chan
Fund Description
PineStone Asset Management Inc., the Fund’s subadvisor (the “Subadvisor”), seeks to achieve the Fund’s investment objective by investing substantially in a portfolio of U.S. equities. The Fund generally expects to focus on issuers with market capitalizations in excess of $1 billion.
The Subadvisor seeks to invest in what it believes are quality companies, i.e., companies that the Subadvisor considers to have, among other things, an ability to generate an elevated level of return on invested capital significantly above the cost of capital.
Under normal circumstances, the Fund invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in equity securities of U.S. companies. An issuer of a security is considered to be a U.S. or foreign issuer based on the issuer’s “country of risk” (or similar designation) as determined by a third party such as Bloomberg, Factset or ICE Data Services Inc.
Equity securities include common stock, preferred stock, convertible securities and depositary receipts.
Investment Process:
In pursuing the Fund’s investment objective, the Subadvisor employs a bottom-up stock selection approach which results in a portfolio generally ranging from 20 to 45 companies. A bottom-up stock selection approach focuses on the analysis of individual stocks (microeconomic factors) as opposed to the significance of economic cycles and market cycles (macroeconomic factors).
The Subadvisor looks for quality companies that have growth potential that are believed to be trading at attractive valuations. In doing so, the Subadvisor focuses on companies believed by the portfolio management team to have the following characteristics, among others:
·Competitive advantage in an industry with high barriers to entry;
·Attractive industry with pricing power, organic growth and limited cyclicality;
·Strong management teams with sound corporate governance;
·History of stable profit margins;
·Solid balance sheet with low leverage; and
·Attractive valuation with a stock price below intrinsic value.
The portfolio management team expects to take a longer-term investment perspective, generally seeking to hold investments in companies for at least 5 years. In evaluating whether to sell a security, the Subadvisor considers, among other factors, whether in its view the company no longer continues to meet the standards described above and/or the Subadvisor believes there are more attractive opportunities available for investment by the Fund.
The Fund is non-diversified, which means that it may invest a greater amount of its assets in the securities of a single issuer or a small number of issuers than a diversified fund.
FCUEX - Performance
Return Ranking - Trailing
Period | FCUEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.6% | -3.0% | 12.1% | 92.73% |
1 Yr | 14.1% | -0.6% | 44.6% | 88.09% |
3 Yr | 6.9%* | -12.9% | 13.6% | 29.78% |
5 Yr | N/A* | -9.6% | 106.3% | N/A |
10 Yr | N/A* | -0.3% | 20.4% | N/A |
* Annualized
Return Ranking - Calendar
Period | FCUEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 21.2% | -42.6% | 47.4% | 36.75% |
2022 | -18.6% | -56.3% | -4.2% | 20.97% |
2021 | 31.8% | -27.2% | 53.7% | 1.15% |
2020 | 21.7% | -36.2% | 2181.7% | 4.77% |
2019 | N/A | -22.7% | 40.4% | N/A |
Total Return Ranking - Trailing
Period | FCUEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.6% | -3.0% | 12.1% | 92.73% |
1 Yr | 14.1% | -0.6% | 44.6% | 88.09% |
3 Yr | 6.9%* | -12.9% | 13.6% | 29.78% |
5 Yr | N/A* | -9.6% | 106.3% | N/A |
10 Yr | N/A* | -0.3% | 20.4% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | FCUEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 21.6% | -5.0% | 47.4% | 64.93% |
2022 | -15.7% | -36.8% | -2.2% | 30.32% |
2021 | 32.9% | 3.0% | 124.3% | 3.86% |
2020 | 23.1% | -15.8% | 2266.0% | 7.93% |
2019 | N/A | -0.4% | 241.3% | N/A |
NAV & Total Return History
FCUEX - Holdings
Concentration Analysis
FCUEX | Category Low | Category High | FCUEX % Rank | |
---|---|---|---|---|
Net Assets | 203 M | 2.34 M | 1.55 T | 80.67% |
Number of Holdings | 28 | 2 | 4048 | 95.29% |
Net Assets in Top 10 | 200 M | 885 K | 387 B | 63.98% |
Weighting of Top 10 | 54.99% | 0.3% | 112.0% | 5.45% |
Top 10 Holdings
- Microsoft Corp. 9.59%
- Alphabet, Inc., Class A 6.94%
- Moody's Corp. 6.38%
- AutoZone, Inc. 6.30%
- UnitedHealth Group, Inc. 5.50%
- Mastercard, Inc., Class A 5.23%
- Linde plc 3.84%
- Lowe's Cos., Inc. 3.81%
- PepsiCo, Inc. 3.77%
- TJX Cos., Inc. (The) 3.63%
Asset Allocation
Weighting | Return Low | Return High | FCUEX % Rank | |
---|---|---|---|---|
Stocks | 98.74% | 0.00% | 124.03% | 57.59% |
Cash | 1.26% | 0.00% | 99.06% | 43.45% |
Preferred Stocks | 0.00% | 0.00% | 2.38% | 38.10% |
Other | 0.00% | -13.91% | 100.00% | 59.50% |
Convertible Bonds | 0.00% | 0.00% | 5.54% | 35.02% |
Bonds | 0.00% | -0.37% | 93.78% | 38.02% |
Stock Sector Breakdown
Weighting | Return Low | Return High | FCUEX % Rank | |
---|---|---|---|---|
Financial Services | 19.77% | 0.00% | 55.59% | 8.05% |
Technology | 18.10% | 0.00% | 48.94% | 84.23% |
Healthcare | 16.01% | 0.00% | 60.70% | 22.52% |
Consumer Cyclical | 14.34% | 0.00% | 30.33% | 5.61% |
Industrials | 10.10% | 0.00% | 29.90% | 35.37% |
Communication Services | 8.39% | 0.00% | 27.94% | 51.14% |
Basic Materials | 7.05% | 0.00% | 25.70% | 5.69% |
Consumer Defense | 6.24% | 0.00% | 47.71% | 69.27% |
Utilities | 0.00% | 0.00% | 20.91% | 90.16% |
Real Estate | 0.00% | 0.00% | 31.91% | 91.30% |
Energy | 0.00% | 0.00% | 41.64% | 90.98% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | FCUEX % Rank | |
---|---|---|---|---|
US | 98.74% | 0.00% | 124.03% | 44.89% |
Non US | 0.00% | 0.00% | 62.81% | 48.72% |
FCUEX - Expenses
Operational Fees
FCUEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.95% | 0.01% | 19.75% | 39.07% |
Management Fee | 0.55% | 0.00% | 1.90% | 55.86% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 40.87% |
Administrative Fee | N/A | 0.00% | 0.85% | N/A |
Sales Fees
FCUEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 1.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
FCUEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.25% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
FCUEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 10.00% | 0.00% | 496.00% | 23.11% |
FCUEX - Distributions
Dividend Yield Analysis
FCUEX | Category Low | Category High | FCUEX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.20% | 0.00% | 25.50% | 83.27% |
Dividend Distribution Analysis
FCUEX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | Monthly | Annual |
Net Income Ratio Analysis
FCUEX | Category Low | Category High | FCUEX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.09% | -54.00% | 6.06% | 80.91% |
Capital Gain Distribution Analysis
FCUEX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 05, 2023 | $0.051 | OrdinaryDividend |
Dec 22, 2022 | $0.496 | OrdinaryDividend |
Dec 20, 2019 | $0.029 | OrdinaryDividend |
FCUEX - Fund Manager Analysis
Managers
Andrew Chan
Start Date
Tenure
Tenure Rank
Sep 30, 2019
2.67
2.7%
Andrew Chan, MSc, Vice President and Portfolio Manager, joined Fiera Capital in 2009. Andrew Chan is a member of the Global Equity team and is assistant portfolio manager for the U.S., International and Global Equity strategies. Prior experiences include Senior analyst positions for U.S. and global equities at leading investment management firms.
Nadim Rizk
Start Date
Tenure
Tenure Rank
Sep 30, 2019
2.67
2.7%
Nadim Rizk, CFA, Senior Vice President and Lead Portfolio Manager. Joined Fiera Capital in 2009. Bachelor of Business Administration, American University of Beirut and Master of Business Administration, McGill University. Prior experiences include Head of Global Equities, Lead manager for U.S. and Global equity portfolios, as well as Senior Global Research Analyst positions at some of Canada’s leading investment management firms.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.04 | 39.02 | 7.27 | 2.42 |