MCSGX — MainStay MacKay Government Fund
Data updated: 2026-09-23
MCSGX — MainStay MacKay Government Fund. Intermediate Municipal - National Bond · $2.39B AUM. Holdings, fees, performance and SEC filings.
MCSGX Fund Overview
MCSGX — MainStay MacKay Government Fund is a US mutual fund managed by New York Life Investments Funds, categorised as Intermediate Municipal - National 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
- Category: Intermediate Municipal - National Bond
- Assets under management: $2.39B
- 1-year return: 2.6%
- Ticker: MCSGX
- SEC CIK: 0000787441
- SEC series ID: S000006895
- Share class ID: C000018690
MCSGX Investment Objective and Strategy
MainStay MacKay Government Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by New York Life Investments Funds.
Investment objective
The Fund seeks current income.
Principal investment strategy
"The Fund, under normal circumstances, invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in U.S. government securities. It may invest up to 20% of its net assets in mortgage-related and asset-backed securities or other investment grade debt securities that are not U.S. government securities. The Fund's principal investments are debt securities issued or guaranteed by the U.S. government, its agencies and instrumentalities (as well as government sponsored enterprises). These securities include U.S. Treasury bills (maturing in one year or less), notes (maturing in 1 to 10 years), bonds (generally maturing in more than 10 years), Government National Mortgage Association mortgage-backed certificates and other U.S. government securities representing ownership interests in mortgage pools such as securities issued by the Federal National Mortgage Association and by the Federal Home Loan Mortgage Corporation, and certain corporate fixed-income securities that are guaranteed by the Federal Deposit Insurance Corporation.
The Fund also invests in variable rate notes and floaters, which are debt securities with a variable interest rate tied to another interest rate such as a money market index or Treasury bill rate, as well as money market instruments and cash equivalents. Investment Process: In pursuing the Fund's investment strategies, MacKay Shields LLC, the Fund's Subadvisor, uses a combined approach to investing, analyzing economic trends as well as factors pertinent to particular issuers and securities. As part of the Fund's principal strategies, the Subadvisor may use a variety of investment practices such as entering into mortgage dollar roll transactions, to-be-announced (""TBA"") securities transactions, and transactions on a when-issued basis. The Fund may also invest in derivatives such as futures and options to try to enhance returns or reduce the risk of loss by hedging certain of its holdings.
The Subadvisor may sell a security prior to maturity if it no longer believes that the security will contribute to meeting the investment objective of the Fund."
MCSGX Holdings
Top 10 holdings of MainStay MacKay Government Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| BNY Dreyfus Government Cash Management | 2.45% |
| Massachusetts Educational Financing Authority | 1.33% |
| Cornell University | 1.26% |
| New York City Housing Development Corp. | 1.20% |
| New York State Dormitory Authority | 0.98% |
| New Hampshire Business Finance Authority | 0.94% |
| State of California | 0.79% |
| City of New York NY | 0.71% |
| Main Street Energy, Inc. | 0.70% |
| Commonwealth of Massachusetts | 0.69% |
MCSGX Portfolio Allocation
Asset-class allocation of MainStay MacKay Government Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 97.1% |
| Cash & Equivalents | 2.5% |
MCSGX Performance
Total returns for MCSGX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 2.6% |
| 3 years (annualised) | -3.2% |
MCSGX Risk Information
Risk metrics for MCSGX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 6.4%
MCSGX Costs and Fees
MCSGX costs about $187 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.87%
- Gross expense ratio: 2.00%
- Portfolio turnover: 71%
- Brokerage commissions: 0.03 bps of average net assets (SEC N-CEN)
MCSGX Cashflows
Over the 12 months to 2026-04, MainStay MacKay Government Fund had net inflows of $723.49M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-04 | $61.55M |
| 2026-03 | $56.44M |
| 2026-02 | $89.90M |
| 2026-01 | $80.05M |
| 2025-12 | $56.68M |
| 2025-11 | $41.69M |
MCSGX Debt Constituents
Largest debt holdings of MainStay MacKay Government Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Massachusetts Educational Financing Authority | 1.33% |
| Cornell University | 1.26% |
| New York City Housing Development Corp. | 1.20% |
| New York State Dormitory Authority | 0.98% |
| New Hampshire Business Finance Authority | 0.94% |
| State of California | 0.79% |
| City of New York NY | 0.71% |
| Main Street Energy, Inc. | 0.70% |
| Commonwealth of Massachusetts | 0.69% |
| State of Hawaii | 0.68% |
MCSGX Prospectus and SEC Filings
Official MainStay MacKay Government Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-02-26
- Prospectus (485BPOS) — filed 2024-02-26
- Prospectus supplement (497) — filed 2025-02-28
- Portfolio holdings (N-PORT) — filed 2026-09-23
- Portfolio holdings (N-PORT) — filed 2026-06-25
- Portfolio holdings (N-PORT) — filed 2026-03-26
- Annual census (N-CEN) — filed 2026-01-13
- Annual census (N-CEN) — filed 2025-01-13
Related Funds
Other Intermediate Municipal - National Bond funds tracked on ABC INVEST:
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.