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Address And Details

30 Hudson Street , Jersey City, NJ 07302
Fund Manager Adam Illfelder
Manager Tenure 1 Years 1 Months

Strategy And Objective

The Fund seeks long-term appreciation of capital. Under normal conditions, the Fund invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in equity securities. Equity securities include common stocks, and securities convertible into, or exchangeable for, common stocks, across all market capitalizations. The Fund may also invest in foreign securities, which are generally securities issued by companies organized outside the United States and that are traded primarily in markets outside the United States. The Fund employs two subadvisors, Epoch Investment Partners, Inc. ("Epoch") and Marston International LLC ("Marston"), with investment processes and styles that New York Life Investment Management LLC, the Fund's Manager, believes are complementary. Each Subadvisor is responsible for managing a portion of the Fund's assets, as designated by the Manager from time to time. Investment Process: The Subadvisors investment processes and styles are as follows: Epoch: Epoch invests primarily in companies that generate increasing levels of free cash flow and have management teams that Epoch believes allocate free cash flow effectively to create shareholder value. The security selection process focuses on free-cash-flow analytics as opposed to traditional accounting-based metrics. Epoch seeks to identify companies with a consistent, straight forward ability to both generate free cash flow and to intelligently allocate it among internal reinvestment opportunities, acquisitions, dividends, share repurchases and/or debt reduction. Epoch may sell or reduce a position in a security when it believes its investment objectives have been met or when the security is deemed less attractive relative to another security on a return/risk basis. Epoch may sell or reduce a position in a security if it sees the investment thesis failing to materialize .Markston: Markston seeks to identify companies that it believes can emerge as market leaders, where current valuation is disconnected from positive long-term prospects and ultimately have the potential to develop premium valuations. In addition to applying existing valuation criteria like low multiples of price-to-book or cash flow, Markston looks for companies with identifiable catalysts, including insider buying, stock repurchases,management change, sale or spin-off of a division, industry consolidation, and tax loss carry-forwards. Markston generally looks for the presence of at least three of these catalysts to coincide with what it believes could enhance the return potential of a stock while also helping to minimize risk.Markston also assesses the judgment, quality, and integrity of company management and the track record of capital deployment. Finally, Markston will apply a rigorous discounted cash flow model as an important valuation tool in both buy and sell decisions.Under normal circumstances, Markston holds securities for a relatively long period of time. However, certain securities may be acquired from time to time in an effort to earn short-term profits. Marston may sell an investment when it believes the opportunity for current profits or the risk of market decline outweighs the prospect of future capital gains.

Net Asset Value

as of 5:43 PM ET 05/20/2022

Performance

  • 1 Week
  • -1.18%
  • 1 Month
  • -7.57%
  • 3 Months
  • -5.00%
  • 1 Yr Return
  • -55.13%
  • 5 Yr Return
  • -44.54%

Equity Sector Breakdown

Finance 32.29%
Technology 19.24%
IndustrialCyclical 10.16%
NonDurables 8.90%
Health 8.81%
Energy 6.52%
Services 5.01%
RetailTrade 4.10%
Utilities 3.07%
ConsumerDurables 0.97%

Asset Allocation

Asset Type % Of Allocation
Stocks 99.10%
ForeignStocks 5.68%
Cash 0.00%
Bonds 0.00%
Preferred 0.00%
Convertible 0.00%
Other 0.00%
ForeignBonds 0.00%
ForeignHedged 0.00%
Total Net Assets 10.17 M

Risk Measures

Criteria 3 Years 5 Years 10 Years
Alpha -0.41 -1.42 -2.60
Beta 1.02 1.03 1.04
R Squared 0.89 0.91 0.92
Std Deviation 20.29 17.76 14.78
Sharpe Ratio 0.74 0.72 n/a

Purchase Information

as of 5:45 PM ET 05/19/2022
Minimum Initial n/a
Minimum Additional $99
Minimum Initial IRA $99

Performance

Timeframe Average Annual Current Performance Monthly As Of 04/30/2022 Average Annual Current Performance Quarterly As Of 03/31/2022 Avg Annual Current Performance Monthly As Of 04/30/2022 Avg Annual Current Performance Quarterly As Of 03/31/2022
1 Year
  • +2.52%
  • +14.06%
+2.52% +14.06%
3 Year
  • +13.34%
  • +17.22%
+13.34% +17.22%
10 Year
  • +11.14%
  • +11.49%
+11.14% +11.49%
Life Of Fund
  • +7.94%
  • +8.21%
+7.94% +8.21%

Top 10 Holdings

Symbol Company Name % Of Assets
UNH UNITEDHEALTH GROUP INC 3.39%
JPM JPMORGAN CHASE & CO 3.37%
PFE PFIZER INC 3.06%
CSCO CISCO SYSTEMS INC 2.56%
CMCSA COMCAST CORP 2.50%
BAC BANK OF AMERICA CORPORATION 2.32%
ANTM ANTHEM INC 2.31%
GOOG ALPHABET INC CLASS C 2.07%
MS MORGAN STANLEY 2.05%
MET METLIFE INC 2.04%

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