[2] New York Life Investments offers investors access to institutional money management through its mutual funds, exchange-traded funds (ETFs), separately managed accounts, and non-traditional strategies.

New York Life Investments has over $674 billion USD in assets under management.

The Mainstay brand was launched in 1986 shortly after MacKay Shields, first offered to retail and then to institutional investors in 1991.

[10] In 2015, the acquisition of IndexIQ introduced liquid alternative investment exchange-traded funds to its product offerings.

[10] In 2024, New York Life announced that its Mainstay and IndexIQ funds would be renamed to reflect the New York Life brand, with the names of funds beginning with NYLI.