Preparation Seizes Opportunity – Higher Accruals Set the Pace: Mid-Year Update – NYL Investments – 7.19.23

January 3, 2021

Overview:

Title: Preparation Seizes Opportunity – Higher Accruals Set the Pace: Mid-Year Update

Date: Wednesday, July 19, 2023

Time: 1:00 PM Eastern Daylight Time

Duration: 1 hour

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Summary:

Now On Demand

For the municipal market, the first half of 2023 has offered improving technicals and rising demand. There has been no shortage of opportunities, especially for disciplined active managers. Against this backdrop, the seasoned experts at MacKay Municipal Managers present their mid-year insights.

How can municipal investors take advantage of shifting dynamics? The team revisits their Top 5 Municipal Market Insights for 2023 and provides an update on how to seize opportunity.

Speakers:

David Dowden Managing Director and Portfolio Manager MacKay Municipal Managers

David joined MacKay Shields in 2009. Before joining the firm he was Chief Investment Officer at Financial Guaranty Insurance Company. David was previously with Alliance Capital Management as a Senior Portfolio Manager and at Merrill Lynch & Co. as a Municipal Strategist. David has an AB from Brown University and an MBA from Columbia University. He has been in the investment management industry since 1989.

Eric Snyder Director, Client Portfolio Manager MacKay Municipal Managers

Eric joined MacKay Shields in October 2021 focusing on client relationship management and business development initiatives for MacKay Municipal Managers team. Prior to joining the firm, Eric was a Product Manager at New York Life Investments covering the MainStay/IndexIQ municipal bond product suite. From 2011 to 2018, Eric worked at PGIM Investments most recently as a product manager covering their public real estate and municipal fixed income products. He started his career at Bank of America Merrill Lynch in 2007, serving most recently as a Merrill Edge Financial Solutions Advisor. Eric earned a B.S. in finance from the University of Rhode Island. He holds FINRA 7 and 66 securities registrations and has been in the investment industry since 2007.

All investments are subject to market risk, including possible loss of principal. Diversification cannot assure a profit or protect against loss in a declining market.

This material contains the opinions of the MacKay Municipal Managers™ team of MacKay Shields LLC but not necessarily those of MacKay Shields LLC. The opinions expressed herein are subject to change without notice. This material is distributed for informational purposes only. Forecasts, estimates, and opinions contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. Any forward-looking statements speak only as of the date they are made, and MacKay Shields assumes no duty and does not undertake to update forward-looking statements. No part of this document may be reproduced in any form, or referred to in any other publication, without express written permission of MacKay Shields LLC. ©2021, MacKay Shields LLC. All Rights Reserved.

Information included herein should not be considered predicative of future transactions or commitments made by MacKay Shields LLC nor as an indication of current or future profitability.

There is no assurance investment objectives will be met. Past performance is not indicative of future results.

MacKay Municipal Managers is a trademark of MacKay Shields LLC. MacKay Shields LLC is a wholly owned subsidiary of New York Life Investment Management Holdings LLC, which is wholly owned by New York Life Insurance Company.

“New York Life Investments” is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company. Securities are distributed by NYLIFE Distributors LLC, 30 Hudson Street, Jersey City, NJ 07302, a wholly owned subsidiary of New York Life Insurance Company. NYLIFE Distributors LLC is a Member FINRA/SIPC.

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