EX-99.D ADVSR CONTR 4 ex99dadvsrcontr-3.htm

THE MAINSTAY FUNDS
MAINSTAY FUNDS TRUST

MAINSTAY VP FUNDS TRUST

AMENDMENT TO AMENDED AND RESTATED SUBADVISORY AGREEMENT

This Amendment to the Amended and Restated Subadvisory Agreement, is made as of the 8th day of September 2023, between New York Life Investment Management LLC, a Delaware limited liability company (the “Manager”) and MacKay Shields LLC, a Delaware limited liability company (the “Subadvisor”).

WHEREAS, the Manager and the Subadvisor are parties to the Amended and Restated Subadvisory Agreement, dated January 1, 2018, as amended (“Agreement”); and

WHEREAS, the Manager and the Subadvisor hereby wish to amend Schedule A of the Agreement to reflect the removal of the MainStay MacKay International Equity Fund.

NOW, THEREFORE, the parties agree as follows:

(i) Effective September 8, 2023, Schedule A is hereby amended by deleting it in its entirety and replacing it with the Schedule attached hereto.

 

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IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their duly authorized officers and attested effective as of the date first written above.

NEW YORK LIFE INVESTMENT MANAGEMENT LLC

Attest: /s/ Brian J. McGrady      By: /s/ Kirk C. Lehneis  

Name: Brian J. McGrady     Name: Kirk C. Lehneis 

Title: Director and Associate General Counsel  Title: Senior Managing Director

      

MACKAY SHIELDS LLC

Attest: /s/ Young Lee      By:  /s/ Rene Bustamante  

Name: Young Lee      Name: Rene A. Bustamante

Title: Senior Managing Director    Title: Executive Managing Director and

 General Counsel      Chief Administrative Officer

SCHEDULE A

(As of September 8, 2023)

As compensation for services provided by Subadvisor, the Manager will pay the Subadvisor and Subadvisor agrees to accept as full compensation for all services rendered hereunder, at an annual subadvisory fee equal to the following:

  

FUND / PORTFOLIO

ANNUAL RATE ON ALLOCATED ASSETS

The MainStay Funds

 

MainStay Income Builder Fund (investment sleeve)*

0.32% on assets up to $500 million;
0.30% on assets from $500 million to $1 billion;

0.2875% on assets from $1 billion to $5 billion; and
0.2825% on assets over $5 billion*

MainStay MacKay Convertible Fund*

0.30% on assets up to $500 million;
0.275% on assets from $500 million to $1 billion;
0.25% on assets over $1 billion to $2 billion; and
0.245% over $2 billion

MainStay MacKay High Yield Corporate Bond Fund

0.30% on assets up to $500 million;
0.275% on assets from $500 million to $5 billion;
0.2625% on assets from $5 billion to $7 billion;

0.25% on assets from $7 billion to $10 billion; and
0.245% on assets from $10 billion to $15 billion; and
0.24% on assets over $15 billion

MainStay MacKay Strategic Bond Fund*

0.30% on assets up to $500 million;

0.275% on assets from $500 million to $1 billion;
0.25% on assets from $1 billion to $5 billion; and
0.2375% on assets over $5 billion

MainStay MacKay Tax Free Bond Fund*

0.225% on assets up to $500 million;
0.2125% on assets from $500 million to $1 billion; 0.20% on assets from $1 billion to $5 billion;
0.195% on assets from $5 billion to $7 billion;
0.19% on assets from $7 billion to $9 billion; and
0.185% on assets over $9 billion

MainStay MacKay U.S. Infrastructure Bond Fund*

0.25% on assets up to $500 million;

0.2375% on assets from $500 million to $1 billion; and
0.225% on assets over $1 billion

MainStay Funds Trust

 

MainStay MacKay California Tax Free Opportunities Fund*

0.225% on assets up to $1 billion;
0.215% on assets from $1 billion to $3 billion; and
0.21% on assets over $3 billion

  

FUND / PORTFOLIO

ANNUAL RATE ON ALLOCATED ASSETS

MainStay MacKay High Yield Municipal Bond Fund*

0.275% on assets up to $1 billion;
0.27% on assets from $1 billion to $3 billion;
0.265% on assets from $3 billion to $5 billion;
0.26% on assets from $5 billion to $7 billion;
0.255% on assets from $7 billion to $9 billion; and
0.25% on assets from $9 billion to $11 billion;
0.245% on assets from $11 billion to $13 billion;
0.24% on assets over $13 billion

MainStay MacKay New York Tax Free Opportunities Fund*

0.225% on assets up to $1 billion;
0.215% on assets from $1 billion to $3 billion; and
0.21% on assets over $3 billion

MainStay MacKay Short Duration High Yield Fund*

0.325% on all assets

MainStay MacKay Short Term Municipal Fund*

0.175% on assets up to $1 billion;
0.165% on assets from $1 billion to $5 billion; and
0.16% on assets over $5 billion

MainStay MacKay Strategic Municipal Allocation Fund*

0.20% on all assets

MainStay MacKay Total Return Bond Fund*

0.225% up to $1 billion;

0.22% from $1 billion to $3 billion; and

0.215% over $3 billion

MainStay VP Funds Trust

 

MainStay VP Income Builder Portfolio (investment sleeve)

0.285% on assets up to $1 billion; and

0.275% on assets over $1 billion

MainStay VP MacKay Convertible Portfolio

0.30% on assets up to $500 million;

0.275% on assets from $500 million to $1 billion;

0.25% on assets from $1 billion to $2 billion;

0.245% on assets over $2 billion

MainStay VP MacKay Government Portfolio

0.25% on assets up to $500 million;
0.2375% on assets from $500 million to $1 billion; and
0.225% on assets over $1 billion

MainStay VP MacKay High Yield Corporate Bond Portfolio

0.285% on assets up to $1 billion;
0.275% on assets from $1 billion to $5 billion; and

0.2625% on assets over $5 billion

MainStay VP MacKay Strategic Bond Portfolio*

0.30% on assets up to $500 million;

0.275% on assets from $500 million to $1 billion;

0.25% on assets from $1 billion to $5 billion; and

0.2375% on assets over $5 billion

The portion of the fee based upon the average daily net assets of the respective Allocated Assets shall be accrued daily at the rate of l/(number of days in calendar year) of the annual rate applied to the daily net assets of the Allocated Assets. Payment will be made to the Subadvisor on a monthly basis.

* The Manager has agreed to waive a portion of the Fund’s/Portfolio’s management fee or reimburse the expenses of the appropriate class of the Fund/Portfolio so that the class total ordinary operating expenses do not exceed certain amounts. These

waivers or expense limitations may be changed with Board approval. To the extent the Manager has agreed to waive its management fee or reimburse expenses, the Subadvisor, upon reasonable prior notice from the Manager, has voluntarily agreed to waive or reimburse its fee in proportion to the percentage of the total subadvisory fee that the Subadvisor earns.