Fund Evaluator:

NYLI PineStone Global Equity Class P Overview

NYLI PineStone Global Equity Class P (FCGPX) is an actively managed International Equity Global Large-Stock Growth fund. New York Life Investment Management LLC launched the fund in 2023.

The investment seeks capital appreciation. The fund’s subadvisor, seeks to achieve the fund’s investment objective by investing in a portfolio of global equities, which may include companies in emerging markets. The fund may invest in issuers with market capitalizations of any size, though it generally expects to focus on issuers with market capitalization in excess of $1 billion.

About NYLI PineStone Global Equity Class P (FCGPX)

There are 2 members of the management team with an average tenure of 9.26 years: Andrew Chan (2017), Nadim Rizk (2017). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: MSCI World NR USD index with a weighting of 100%. NYLI PineStone Global Equity Class P has 35 securities in its portfolio. The top 10 holdings constitute 56.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

NYLI PineStone Global Equity Class P is part of the Equity global asset class and is within the International Equity fund group. NYLI PineStone Global Equity Class P has 37.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 62.5%. There is 37.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). NYLI PineStone Global Equity Class P has 0.6% of the portfolio in cash.

Assets Under Management

The fund has $6 million in total assets, which is below the $988 million average for the Global Large-Stock Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

FCGPX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The NYLI PineStone Global Equity Class P expense ratio is high compared to funds in the Global Large-Stock Growth category. NYLI PineStone Global Equity Class P has an expense ratio of 0.85%, which is 24% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. NYLI PineStone Global Equity Class P has a portfolio turnover rate of 35%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 47% for the Global Large-Stock Growth category.

Recently, in the month of July 2026, NYLI PineStone Global Equity Class P returned -1.3%, which earned it a grade of B, as the Global Large-Stock Growth category had an average return of -2.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

NYLI PineStone Global Equity Class P has a trailing yield of 0.38%, which is above the 0.27% category average. The fund normally distributes its income annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

NYLI PineStone Global Equity Class P Grades

Year to date, the fund has returned 6.4%, 0.3 percentage points better than the category, which translates into a grade of C. The fund has returned 17.3% over the past year (grade of B), 11.7% over the past three years (grade of D) and 7.0% per year over the past five years (grade of C).

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