CRZNX — MainStay Cushing Renaissance Advantage Fund

CRZNX Fund Overview

CRZNX — MainStay Cushing Renaissance Advantage Fund is a US mutual fund managed by New York Life Investments Funds Trust, categorised as Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: New York Life Investments Funds Trust
• Category: Bond
• Assets under management: $22.29M
• Ticker: CRZNX
• SEC CIK: 0001469192
• SEC series ID: S000045769
• Share class ID: C000142697

CRZNX Investment Objective and Strategy

MainStay Cushing Renaissance Advantage Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by New York Life Investments Funds Trust.

Investment objective

The Fund seeks total return.

Principal investment strategy

Under normal market conditions, the Fund invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in a portfolio of (i) companies across the energy supply chain spectrum, including upstream, midstream and downstream energy companies (i.e., companies engaged in exploration and production; gathering, transporting and processing; and marketing and distribution, respectively), as well as oil and gas services companies (collectively, Energy Companies), (ii) energy-intensive chemical, metal and industrial and manufacturing companies and engineering and construction companies that Cushing Asset Management, LP, the Funds Subadvisor, expects to benefit from growing energy production and lower feedstock costs relative to global costs (collectively, Industrial Companies), and (iii) transportation and logistics companies providing solutions to the U.S.

manufacturing industry (collectively, Logistics Companies and, together with Energy Companies and Industrial Companies, Renaissance Companies). The Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the Internal Revenue Code). Consistent with such intention, the Fund will invest no more than 25% of its total assets in securities of master limited partnerships (MLPs) that qualify as publicly traded partnerships (QPTPs), which are treated as partnerships under the Internal Revenue Code. The Fund may invest in companies of any market capitalization size. The Fund will, in normal circumstances, invest more than 25% of its assets (or concentrate its investments) in the industry or group of industries that constitute the energy sector.

The Subadvisor employs an investment process involving fundamental and quantitative analysis. The Subadvisor selects a core group of investments utilizing a proprietary quantitative ranking system and seeks to build a strategically developed core portfolio designed to take advantage of changing dynamics in the energy, industrial and manufacturing and transportation and logistics sectors. The Fund is actively managed and the quantitative analysis is dynamic in conjunction with the Subadvisors proprietary research process. The Subadvisor utilizes its financial and industry experience to identify the absolute and relative value investments that, in the Subadvisors view, present the best opportunities. The results of the Subadvisors analysis and comprehensive investment process will influence the weightings of positions held by the Fund.

The Fund may invest up to 25% of its total assets in debt securities, preferred shares and convertible securities of Renaissance Companies and other issuers, provided that such securities are (a) rated, at the time of investment, at least (i) B3 by Moodys Investors Service, Inc. (Moodys), (ii) B- by Standard & Poors Ratings Services (S&P) or Fitch Ratings (Fitch), or (iii) of a comparable rating by another independent rating agency or (b) with respect to up to 10% of its total assets, in debt securities, preferred shares and convertible securities that have lower ratings or are unrated at the time of investment (i.e., rated lower than B3 by Moodys and B- by S&P). All of the Funds investments in debt securities, preferred shares and convertible securities may consist of securities rated below investment grade (such as those rated Ba or lower by Moodys and BB or lower by S&P), which are commonly referred to as high yield securities or junk bonds and are regarded as speculative with respect to the issuers capacity to pay interest and repay principal in accordance with the terms of the obligations, and involve major risk exposure to adverse conditions.

If independent rating agencies assign different ratings for the same security, the Fund will use the higher rating for purposes of determining the credit quality. The Fund may invest in debt securities of any maturity or duration.

CRZNX Costs and Fees

CRZNX costs about $175 per $10,000 invested per year in fund expenses.

• Net expense ratio: 1.75%
• Gross expense ratio: 1.91%
• Portfolio turnover: 97%
• Brokerage commissions: 42.44 bps of average net assets (SEC N-CEN)

CRZNX Cashflows

Over the 12 months to 2020-02, MainStay Cushing Renaissance Advantage Fund had net inflows of $13.18M, from monthly SEC N-PORT filings.

CRZNX Debt Constituents

No individual debt constituents are reported in MainStay Cushing Renaissance Advantage Fund's latest SEC N-PORT filing.

CRZNX Prospectus and SEC Filings

Official MainStay Cushing Renaissance Advantage Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2020-04-17
• Prospectus (485BPOS) — filed 2019-04-08
• Prospectus (485BPOS) — filed 2018-04-20
• Portfolio holdings (N-PORT) — filed 2020-04-29
• Portfolio holdings (N-PORT) — filed 2020-01-29
• Annual census (N-CEN) — filed 2020-02-13
• Annual census (N-CEN) — filed 2019-02-13

Related Funds

Other Bond funds tracked on ABC INVEST:

• Great-West T. Rowe Price Equity Income Fund (MXTQX)
• Absolute Return Currency Fund (JCUAX)
• ICON Flexible Bond Fund (IOBCX)
• Tributary Growth Opportunities Fund (FOGRX)
• Oakhurst Fixed Income Fund (FWFIX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.