Overview
Overview
NYLI CBRE Global Infrastructure Fund invests across the global-listed, infrastructure universe.
Defensive, all-weather asset class
Infrastructure is essential to economic growth and vitality , offering defined revenue streams and consistent growth.
High-conviction, active management
Investment process leverages a proprietary research platform to drive superior stock selection.
Broad, core infrastructure exposure
May improve the risk-adjusted return of global equity or real asset allocations.
The LSEG Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The LSEG Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the LSEG Lipper Fund Award. guaranteed by LSEG Lipper. The NYLI CBRE Global Infrastructure Fund (VCRIX) won the award in its category over 10 years from among 14 funds for the period ended 12/31/2024. For more information, see lipperfundawards.com.
LSEG Lipper Fund Awards, ©2025 LSEG. All rights reserved. Used under license.
Performance
Performance
Class A & INV: 5.5% maximum initial sales charge; a 1% CDSC may be imposed on certain redemptions made within 18 months of the date of purchase on shares that were purchased without an initial sales charge. Class B: CDSC up to 5% if redeemed within six years. Class C: 1% CDSC if redeemed within one year. Class I: No initial sales charge or CDSC.
Returns represent past performance which is no guarantee of future results. Current performance may be lower or higher. Investment return and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. No initial sales charge applies on investments of $1 million or more (and certain other qualified purchases). However, a contingent deferred sales charge of 1.00% may be imposed on certain redemptions made within 18 months of the date of purchase on shares that were purchased without an initial sales charge. Expenses stated are as of the fund's most recent prospectus.
Performance reflects a contractual fee waiver and/or expense limitation agreement for Class A, C, I, and R6 shares in effect through 2/28/25, without which total returns may have been lower. This agreement renews automatically for one-year terms unless written notice is provided prior to the start of the next term or upon approval of the Board.
Portfolio
Portfolio
Distribution & Yields
Distribution & Yields
Subsidized Yield: the yield of a fund that includes any fee waivers or reimbursements currently in place by the fund’s manager. This figure shows the income generated by the fund after accounting for reduced expenses, giving a more favorable representation of returns under current conditions.
Unsubsidized Yield: the yield of a fund that excludes any fee waivers or reimbursements. It reflects the income the fund would generate if the full expenses were charged, offering a view of returns without any temporary fee reductions.
Distributions may be comprised of ordinary income, net capital gains, and/or a return of capital (ROC) of your investment in the fund. Because the distribution rate and the 12-month rate may include a ROC, they should not be confused with yield or income. Please refer to the most recent Section 19 Notice, if applicable, for additional information regarding the composition of distributions. Final determination of a distribution’s tax character will be made on Form 1099 DIV sent to shareholders each January.
Distribution Rate: The distribution rate measures the percentage return in the form of dividends. It is calculated daily by annualizing the most recent dividend distribution and dividing by the daily share price (NAV or POP). If the Fund did not make a distribution as of the latest scheduled distribution date, "N/A" will be displayed.
12-month Rate: The 12-month rate measures the percentage return in the form of dividends. It is calculated monthly by taking the sum of the trailing 12-month dividend payments divided by the last month's ending share price (NAV or POP) plus any capital gains distributed over previous 12 months. If the Fund did not make any distributions over the previous 12 months, "N/A" will be displayed.
The 30 Day SEC Yield is calculated by dividing the net investment income per share for the first 30 days of the month by the offering price per share at the end of that period. The yield reflects the dividends and interest earned during the period, after the deduction of the Fund's expenses. Yield reflects a fee waiver and/or expense limitation agreement without which the 30 Day SEC Yield would have been lower.
Dividend distributions are the distribution of a dividend to mutual fund shareholders as of a certain date. The following Funds declare daily dividends: NYLI MacKay California Muni Fund, NYLI Floating Rate, NYLI MacKay High Yield Muni Bond Fund, NYLI MacKay U.S. Infrastructure Bond Fund, NYLI Money Market, NYLI MacKay New York Muni Fund, NYLI MacKay Short Term Muni Fund and NYLI MacKay Tax Free Bond.
Fees & Expenses
Fees & Expenses
Performance reflects a contractual fee waiver and/or expense limitation agreement for Class A, C, I, and R6 shares in effect through 2/28/25, without which total returns may have been lower. This agreement renews automatically for one-year terms unless written notice is provided prior to the start of the next term or upon approval of the Board.
Team
Team
Real asset investment specialist.
Industry leading, real asset investment specialist with an unmatched global network and research platform.
Jeremy Anagnos
Chief Investment Officer, Listed Infrastructure
Daniel Foley
Portfolio Manager
Hinds Howard
Portfolio Manager
Joseph P. Smith
CIO - Listed Strategies
Literature
Literature
04/14/2025Fact Sheets.PDF0.2 MB
01/23/2025Product Commentary.PDF0.2 MB
02/13/2025Product Literature.PDF0.2 MB
-Summary Prospectus
-Prospectus
-Statement of Additional Information
NYLI CBRE Global Infrastructure Fund Class A: VCRAX | Class C: VCRCX | Class I: VCRIX | Class INV: VCRVX | Class R6: VCRQX
BEFORE YOU INVEST
Before considering an investment in the Fund, you should understand that you could lose money.
The investment strategies, practices, and risk analysis used by the Subadvisor may not produce the desired results.
The Fund's investments in infrastructure-related securities will expose the Fund to potential adverse economic, regulatory, political, legal and other changes affecting such investments. Issuers of securities in infrastructure-related businesses are subject to a variety of factors that may adversely affect their business or operations, including high interest costs in connection with capital construction programs, high leverage, costs associated with environmental or other regulations and the effects of economic slowdowns.
MLPs carry many of the risks inherent in investing in a partnership. State law governing partnerships is often less restrictive than state law governing corporations. Accordingly, there may be fewer protections afforded investors in an MLP.
Foreign securities are subject to interest rate, currency exchange rate, economic, and political risks. The risks of investing in emerging markets include the risks of illiquidity, increased price volatility, smaller market capitalizations, less government regulation, less extensive and less frequent accounting, financial and other reporting requirements, risk of loss resulting from problems in share registration and custody, substantial economic and political disruptions, and the nationalization of foreign deposits or assets.
The Fund's investments in infrastructure-related securities will expose the Fund to potential adverse economic, regulatory, political, legal and other changes affecting such investments. Issuers of securities in infrastructure-related businesses are subject to a variety of factors that may adversely affect their business or operations, including high interest costs in connection with capital construction programs, high leverage, costs associated with environmental or other regulations and the effects of economic slowdowns.
MLPs carry many of the risks inherent in investing in a partnership. State law governing partnerships is often less restrictive than state law governing corporations. Accordingly, there may be fewer protections afforded investors in an MLP.
Foreign securities are subject to interest rate, currency exchange rate, economic, and political risks. The risks of investing in emerging markets include the risks of illiquidity, increased price volatility, smaller market capitalizations, less government regulation, less extensive and less frequent accounting, financial and other reporting requirements, risk of loss resulting from problems in share registration and custody, substantial economic and political disruptions, and the nationalization of foreign deposits or assets.
Portfolios concentrated in infrastructure securities and Master Limited Partnerships (“MLPs”) may experience price volatility and other risks associated with non-diversification. Investment in infrastructure related companies may be subject to high interest costs in connection with capital construction programs, costs associated with environmental and other regulations, the effects of economic slowdown and surplus capacity, the effects of energy conservation policies, governmental regulation and other factors.
MLPs often own interests Related to the oil and gas industries or other natural resources but may finance other projects. As such, MLPs will be negatively impacted by economic events adversely impacting that industry. Investments in MLPs may offer fewer legal protections than investments in corporations, and limited voting rights.
International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from economic or political instability in other nations.
Emerging markets involve heightened risks related to the same factors, as well as increased volatility and lower trading volume.
Other risks of the Fund include but are not limited to: Company; Convertible Securities; Currency; Derivative Instruments; Investment Model; Liquidity; Market; Market Capitalization; Other Investment Companies; and Securities Lending risks.
FTSE Developed ex North America 50% Hedged to USD Index is the FTSE Developed ex North America Index with 50% of its exposure hedged to U.S. dollars.
An investment cannot be made directly into an index.
Alpha measures a fund's risk-adjusted performance and is expressed as an annualized percentage.
Beta is a measure of historical volatility relative to an appropriate index (benchmark) based on its investment objective. A beta greater than 1.00 indicates volatility greater than the benchmark's.
R-Squared measures the percentage of a fund's movements that result from movements in the index.
Sharpe Ratio shown is calculated for the past 36-month period by dividing annualized excess returns by annualized standard deviation.
Information Ratio measures the returns above the returns of a benchmark to the volatility of those returns.
Tracking Error measures the difference between the return fluctuations of a portfolio and the benchmark.
Annual Turnover Rate is as of the most recent annual shareholder report.
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance (this does not include the effects of sales charges, loads, and redemption fees). The top 10% of products in each product category receive 5stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.