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High-Yield Fund Still Strong After 2014 Manager Departure

Andrew Susser became lead manager of Bronze-rated MainStay High Yield Corporate Bond in 2014 and joins an experienced team.


Kenneth Oshodi: Andrew Susser and the team behind MainStay High Yield Corporate Bond have proven to be a capable group, and their continued strength after a 2014 manager departure has helped this fund to remain a strong offering.

Susser became a comanager on the portfolio in early 2013 and assumed lead manager responsibilities following the departure of longtime skipper Matthew Philo in June 2014. Susser is part of an experienced team at subadvisor MacKay Shields that includes eight sector-focused analysts. The team takes a bucketed approach to managing risk, and classifies companies into four groups based on financial strength, asset coverage, and consistency of cash flows. This aids the team in identifying asset-rich bargains during periods of market stress, like the 2015 high-yield sell-off.

Kenneth Oshodi does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.