[July 14, 2014]

New Mainstay Cushing® Funds Bring U.S. Energy Renaissance to Investors

MainStay Investments, a New York Life company, today announced that it has finalized the adoption of three Cushing^® Funds with approximately $2 billion in assets under management. The fund adoptions are part of MainStay's new subadvisory relationship with Cushing^® Asset Management, LP ("Cushing"), a subsidiary of Swank Capital, LLC, a Dallas-based leading manager of master limited partnerships ("MLPs") and other energy-related investments with approximately $4.3 billion in assets under management as of June 30, 2014.

"The U.S. Energy Renaissance is one of the great economic stories of our time, and we are delighted to offer investors access to the growth potential of this sector through MainStay Cushing Funds," said Stephen Fisher, president of MainStay Investments. "The Cushing team's extensive expertise across the entire energy value chain allows investors to take part in income and growth opportunities sparked by this renaissance, and invest in growing our supply of cheap and abundant energy. Energy MLPs can also offer attractive historical yields, diversification through a low correlation to other asset classes, and competitive performance compared with stocks, bonds and inflation. We are pleased to welcome Cushing to MainStay's broad and growing suite of non-traditional investment solutions for financial advisors and their clients."

Founded in 2003, Cushing was one of the pioneers of fund structures for investing in MLPs and other energy-related companies. Each new MainStay Cushing Fund takes a specific approach to energy investing.

• The MainStay Cushing^® MLP Premier Fund invests primarily in MLPs focused on the midstream energy sector, which generally includes businesses engaged in the transportation and storage of natural resources.
• The MainStay Cushing^® Royalty Energy Income Fund invests primarily in U.S. and Canadian royalty trusts and exploration and production MLPs.
• Both the MLP Premier and Royalty Energy Income Funds seek current income and capital appreciation utilizing fundamental, proprietary research to seek to identify investments with the most attractive distribution yields and distribution growth prospects.
• Complementing the MLP and Energy Trust-focused funds, the MainStay Cushing Renaissance Advantage Fund is one of the first mutual funds focused on the emerging U.S. Energy Renaissance, investing thematically in energy, industrial, manufacturing and transportation companies positioned to benefit from increasing U.S. production of crude oil and natural gas and lower relative domestic energy costs.

"As the U.S. produces more crude oil, natural gas and natural gas liquid, we're seeing a parallel expansion of energy-related investments," said Cushing's founder, Jerry Swank. "Investment selection and active management are essential in this environment, and we believe our team's deep sector experience can give shareholders a competitive edge. We are thrilled to partner with MainStay, a leader in the mutual fund industry and an affiliate of the largest mutual life insurance company in the United States, to deliver access to the U.S. Energy Renaissance for a wider range of investors."

Having been approved by the Funds' shareholders, the following Funds have become a part of the MainStay family of funds: MainStay Cushing MLP Premier Fund ("Premier") (A Class: CSHAX, C Class: CSHCX, I Class: CSHZX, Inv Class: CSHNX), MainStay Cushing Royalty Energy Income Fund ("Royalty Energy") (A Class: CURAX, C Class: CURCX, I Class: CURZX, Inv Class: CSHNX), and MainStay Cushing Renaissance Advantage Fund ("Renaissance") (A Class: CRZAX, C Class: CRZCX, I Class: CRZZX, INV Class: CSHNX ), (together, the "MainStay Cushing Funds"). MainStay Investments now serves as the MainStay Cushing Funds' investment manager with Cushing as subadvisor, continuing to be responsible for the day-to-day portfolio management of the Funds.

For more information, please visit www.mainstayinvestments.com\cushing.

About MainStay Investments

With approximately $105 billion in assets under management as of June 30, 2014 across retail mutual funds and variable product sub-accounts, MainStay Investments is the mutual fund distribution arm of New York Life. MainStay provides financial advisors access to a powerful mix of autonomous, institutional investment managers, delivered by people who understand the needs of today's financial advisor. As an indirect wholly-owned subsidiary of New York Life Insurance Company, a Fortune 100 company founded in 1845, MainStay is owned by the largest mutual life insurance company in the United States* and one of the largest life insurers in the world. Please visit www.mainstayinvestments.com for more information.

About Cushing^® Asset Management

With approximately $4.3 billion in assets under management, as of June 30, 2014, Cushing® Asset Management, LP, ("Cushing"), is a wholly-owned subsidiary of Swank Capital, LLC and an SEC (News - Alert)-registered investment adviser headquartered in Dallas, Texas. Cushing serves as investment adviser to affiliated funds which invest primarily in securities of MLPs and other natural resource companies. Cushing has continually expanded its platform of MLP-related investment products, leveraging extensive industry contacts and comprehensive research depth to drive both passive and actively managed investment opportunities for individual and institutional investors. Cushing seeks to identify and exploit investment niches it believes are generally less understood and less followed by the broader investor community. Please visit Cushing's website at www.swankcapital.com for more information.

For additional information, please contact:

*Based on revenue as reported by "Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual)," Fortune magazine, 6/16/14. For methodology, please see http://fortune.com/fortune500/.

For more information about MainStay Funds®, call 800-MAINSTAY (624-6782) for a prospectus or summary prospectus. Investors are asked to consider the investment objectives, risks, and charges and expenses of the investment carefully before investing. The prospectus or summary prospectus contains this and other information about the investment company. Please read the prospectus or summary prospectus carefully before investing.

The MainStay Funds® are managed by New York Life Investment Management LLC and distributed by NYLIFE Distributors LLC, 169 Lackawanna Avenue, Parsippany, NJ 07054, a wholly owned subsidiary of New York Life Insurance Company. NYLIFE Distributors LLC is a Member FINRA/SIPC.

MainStay Investments^® is a registered service mark and name under which New York Life Investment Management LLC does business. MainStay Investments, an indirect subsidiary of New York Life Insurance Company, New York, NY 10010, provides investment advisory products and services.

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