MainStay Short Term Bond Fund Class I

The fund aims to provide a steady stream of income while also safeguarding its principal. Typically, it invests a minimum of 80% of its total assets (including net assets and any borrowed capital used for investment) in various debt securities. Furthermore, at least 80% of its net assets are specifically allocated to investment-grade quality bonds. The quality of these bonds is determined by ratings from nationally recognized statistical rating organizations (NRSROs) or, if unrated, by the comparable judgment of NYL Investors LLC, the fund's Subadvisor. The fund also has the option to commit up to 20% of its net assets to bonds that are rated below investment grade by an NRSRO, which are often called "high yield" or "junk" bonds.