Fund Description

The fund was incepted in June 1999 and is managed by New York Life Investment Management. The objective of this fund is to seek long-term appreciation of capital. The fund also seeks to earn income as a secondary objective. The fund invests primarily in common stocks and convertible securities deemed by the fund advisors to represent value opportunities. Emphasis is placed on the presence of a catalyst, such as management changes, restructurings and sales of under performing assets, which may unlock a company's potential. The fund is diversified across a wide variety of sectors and industries to help manage risk. The fund offers dividends quarterly. Capital gains are distributed in December.