PrintNew York Life Bets On Long-Duration Munis As Tax-Free Yields Heat Up
BY Benzinga | MUNICIPAL | 12/16/25 02:10 PM ESTNew York Life Investments launched a new actively managed municipal bond ETF, designed to serve those investors wanting to attain higher levels of tax-exempt income with interest rates near record highs.
? What’s ahead for MMCA stock?
The company launched the NYLI MacKay Muni Allocation ETF
The strategy is designed to balance income generation with selective risk-taking, at a time when duration and credit selection are back in the spotlight.
MMMA is managed by a team from MacKay Shields. Co-Portfolio Manager Michael Denlinger said that current market conditions have created a compelling entry point for long-duration municipal strategies, noting that tax-exempt yields are at some of the most attractive levels seen in more than 10 years.
He added that an active approach allows investors to potentially benefit from higher income today while positioning for price appreciation if interest rates begin to ease. In an environment where duration risk and issuer fundamentals matter more than usual, the fund is intended to address both, he said.
The launch will help extend the product offerings for active municipal bond ETFs already managed by New York Life Investments. These existing products include NYLI MacKay Muni Short Duration ETF
As of Sept. 30, New York Life Investments oversaw $799.4 billion in assets under management. MacKay Municipal Managers was entrusted with $81.6 billion in municipal bond assets, underscoring its role as a major player in active muni investing ? proving, once again, that boring bonds can still make headlines.
Read Next:
- VOO's $40 Billion Week Isn't The Bull Stampede It Looks
Photo: Shutterstock
