McMorgan uses four important processes to effectively manage fixed income portfolios: Duration Control, Sector Weighting, Maturity Distribution, and Security Selection.

Portfolios are managed on a team basis with a top-down approach and are characterized by an emphasis on above market yield while stressing call protection.

Investment stratagies available: Separate account or Mutual Fund. Securities distributed by NYLIFE Distributors LLC, 169 Lackawanna Ave, Parsippany, NJ 07054. Visit www.mainstayfunds.com for more information on the mutual fund.