MainStay Investments earlier this month finalized the adoption of the MainStay Marketfield Fund (MFLDX; MFADX).
The fund, formerly known as Marketfield Fund (MFLDX), was originally launched in 2007 and managed by New York-based Marketfield Asset Management. The fund's Class I shares rated 5-stars overall (out of 90 funds) by Morningstar (as of September 30, 2012).
"In today's challenging environment, we feel that the Fund's go-anywhere strategy provides an excellent option for our investors who are increasingly seeking sound alternative strategies," stated Stephen Fisher, president of the MainStay Funds.
MainStay Investments, the mutual fund distribution arm of New York Life, manages more than $65.5 billion in assets September 30.