Quick Investment News: Invest in ICAP Mutual Funds

ICAP (the Institutional Capital Corporation) merged with New York Life Investment Management in 2006. MainStay Investments co-manages all of its mutual funds. Follow these steps to invest in the three MainStay ICAP mutual funds.

Learn About ICAP Mutual Funds

Call (800) MAINSTAY to get prospectuses for MainStay ICAP mutual funds. Read the prospectuses carefully to make sure you understand the particular risks of investing in these funds before you open an account. You can also obtain a prospectus from the MainStay Funds Web site (see the Resources section below).

Learn about ICAP's background. Morningstar (an investment rating company) has recognized ICAP for its success as a manager of international and domestic stock funds. Learn more about the ICAP approach and philosophy on the MainStay Investments Web site.

Understand that the MainStay ICAP fund managers are not afraid to engage in risky investment strategies. Depending on the fund, these strategies may include investing in emerging foreign markets, investing in derivatives, turning over large numbers of shares in a portfolio or concentrating on particular stocks and sectors.

Questions Before You Invest

Choose from six different share classes of MainStay ICAP funds. Sales charges and expenses vary from class to class, so read the prospectus carefully to decide which share class meets your needs.

Pay attention to the effect of sales charges and fees charged by MainStay ICAP mutual funds. Calculate the effect of these charges on a hypothetical series of investments before you decide which funds to invest in.

Invest in MainStay ICAP Mutual Funds

Invest through a third party. You can purchase shares through a broker-dealer or a firm authorized to accept orders on behalf of the funds. Third parties may charge additional fees, and they may be authorized to make certain changes to fund policies on things like minimum investment amounts.

Buy shares directly from MainStay. Fill out an account application and mail it (along with a check for the amount of your investment) to MainStay Funds, P.O. Box 8401, Boston, Massachusetts, 02266-8401.