Winslow’s Kelly On Large Cap Growth

Steve Sciortino, Head of Product Management, New York Life Investments met with Justin Kelly, CEO & CIO Winslow Capital Management to discuss the current market environment, and key economic indicators for long-term equity performance.

While November’s election uncertainty and COVID-19’s lingering effects on the economy have left many questioning the stock market’s resiliency headed into 2021, Kelly predicts that the economy, and in turn the stock market is trending up. The firm’s positive equity outlook over the next 6 -12 months factors in the projected growth of the economy following the deployment of the COVID-19 vaccine and the continued low interest rate environment. Kelly says that long-term stock winners must be well positioned digitally, and financially with double digit earnings and free cashflow growth.

Winslow Capital is a Minneapolis-based investment firm, focused on identifying growth opportunities globally.  Winslow’s team of active equity managers, leverage decades of industry experience and robust investment research. The MainStay Winslow Large Cap Growth Fund aims to deliver long-term growth of capital and actively identifies stocks with diverse, yet complementary types of earnings growth.

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Past performance is no guarantee of future results, which will vary. All investments are subject to market risk and will fluctuate in value.This material represents an assessment of the market environment as at a specific date; is subject to change; and is not intended to be a forecast of future events or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice regarding the funds or any issuer or security in particular.

As of 6/30/20, the MainStay Winslow Large Cap Growth Fund’s top 10 holdings included: Microsoft Corp., 9.1% of net assets; Amazon.com, Inc., 8.6%; Apple, Inc., 6.3%; Facebook, Inc., Class A, 4.6%; Visa, Inc., 4.3%; salesforce.com, Inc., 3.9%; Adobe, Inc., 3.8%; PayPal Holdings, Inc., 3.2%; UnitedHealth Group, Inc., 3.1%.

Free cash flow is a measure of profitability which represents the cash a company generates after accounting for cash outflows to support operations and maintain its capital assets.

The strategies discussed are strictly for illustrative and educational purposes and are not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. There is no guarantee that any strategies discussed will be effective.

This material contains general information only and does not take into account an individual’s financial circumstances. This information should not be relied upon as a primary basis for an investment decision. Rather, an assessment should be made as to whether the information is appropriate in individual circumstances and consideration should be given to talking to a financial advisor before making an investment decision.

There can be no assurance that investment objectives will be met.

About Risk: Before considering an investment in the Fund, you should understand that you could lose money. The principal risk of investing in value stocks is that the price of the security may not approach its anticipated value. Investing in smaller companies involves special risks, including higher volatility and lower liquidity. Investing in mid-cap stocks may carry more risk than investing in stocks of larger, more well-established companies. Foreign securities are subject to interest rate, currency exchange rate, economic, and political risks. These risks may be greater for emerging markets.

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New York Life Investment Management LLC engages the services of federally registered advisors. Winslow Capital Management, LLC is unaffiliated with New York Life Investments. “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. The MainStay Funds® are managed by New York Life Investment Management LLC and distributed by NYLIFE Distributors LLC, 30 Hudson Street, Jersey City, NJ 07302, a wholly owned subsidiary of New York Life Insurance Company.

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