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<PAGE> PAGE 13
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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<PAGE> PAGE 39
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<PAGE> PAGE 40
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054 J000700 Y
054 K000700 N
054 L000700 N
054 M000700 Y
054 N000700 N
054 O000700 N
055 A000700 N
055 B000700 N
056 000700 Y
057 000700 N
058 A000700 N
059 000700 Y
060 A000700 Y
060 B000700 Y
<PAGE> PAGE 41
061 000700 500
062 A000700 Y
062 B000700 0.0
062 C000700 0.0
062 D000700 0.0
062 E000700 2.0
062 F000700 0.0
062 G000700 0.0
062 H000700 0.0
062 I000700 0.0
062 J000700 0.0
062 K000700 0.0
062 L000700 0.0
062 M000700 0.0
062 N000700 0.0
062 O000700 99.6
062 P000700 0.0
062 Q000700 0.0
062 R000700 -1.6
063 A000700 0
063 B000700 24.9
064 A000700 Y
064 B000700 N
066 A000700 N
067 000700 N
068 A000700 N
068 B000700 N
069 000700 N
070 A010700 Y
070 A020700 N
070 B010700 N
070 B020700 N
070 C010700 N
070 C020700 N
070 D010700 N
070 D020700 N
070 E010700 Y
070 E020700 Y
070 F010700 N
070 F020700 N
070 G010700 Y
070 G020700 N
070 H010700 N
070 H020700 N
070 I010700 N
070 I020700 N
070 J010700 Y
070 J020700 Y
070 K010700 N
070 K020700 N
070 L010700 N
<PAGE> PAGE 42
070 L020700 N
070 M010700 N
070 M020700 N
070 N010700 N
070 N020700 N
070 O010700 Y
070 O020700 N
070 P010700 Y
070 P020700 N
070 Q010700 N
070 Q020700 N
070 R010700 N
070 R020700 N
071 A000700 267651
071 B000700 286141
071 C000700 486390
071 D000700 55
072 A000700 6
072 B000700 13910
072 C000700 0
072 D000700 0
072 E000700 0
072 F000700 726
072 G000700 725
072 H000700 0
072 I000700 205
072 J000700 29
072 K000700 0
072 L000700 48
072 M000700 7
072 N000700 22
072 O000700 0
072 P000700 0
072 Q000700 38
072 R000700 16
072 S000700 13
072 T000700 1192
072 U000700 0
072 V000700 0
072 W000700 17
072 X000700 3038
072 Y000700 0
072 Z000700 10872
072AA000700 35973
072BB000700 0
072CC010700 0
072CC020700 0
072DD010700 343
072DD020700 10858
072EE000700 0
073 A010700 0.2460
<PAGE> PAGE 43
073 A020700 0.2337
073 B000700 0.0000
073 C000700 0.0000
074 A000700 25
074 B000700 0
074 C000700 9800
074 D000700 479778
074 E000700 0
074 F000700 0
074 G000700 0
074 H000700 0
074 I000700 0
074 J000700 0
074 K000700 0
074 L000700 12824
074 M000700 0
074 N000700 502427
074 O000700 17915
074 P000700 440
074 Q000700 0
074 R010700 0
074 R020700 0
074 R030700 0
074 R040700 2364
074 S000700 0
074 T000700 481708
074 U010700 1548
074 U020700 4591
074 V010700 10.14
074 V020700 10.15
074 W000700 0.0000
074 X000700 16491
074 Y000700 18043
075 A000700 0
075 B000700 487725
076 000700 0.00
008 A000901 MACKAY-SHIELDS FINANCIAL CORPORATION
008 B000901 S
008 C000901 801-5594
008 D010901 NEW YORK
008 D020901 NY
008 D030901 10019
008 A000902 MAINSTAY MANAGEMENT, INC.
008 B000902 A
008 C000902 801-54912
008 D010902 PARSIPPANY
008 D020902 NJ
008 D030902 07054
015 A000901 STATE STREET BANK & TRUST COMPANY
015 B000901 C
015 C010901 BOSTON
<PAGE> PAGE 44
015 C020901 MA
015 C030901 02110
015 E010901 X
024 000900 Y
025 A000901 NATIONSBANK CORP
025 C000901 E
025 D000901 15567
025 A000902 TRAVELERS GROUP, INC.
025 C000902 E
025 D000902 29358
025 A000903 BEAR STEARNS CO.
025 C000903 D
025 D000903 1832
025 A000904 EQUITABLE CO.
025 C000904 D
025 D000904 2584
025 A000905 LEHMAN BROS. HLDG
025 C000905 D
025 D000905 1831
025 A000906 LEHMAN BROS. INC.
025 C000906 D
025 D000906 2448
025 A000907 MERRILL LYNCH & CO.
025 C000907 D
025 D000907 2853
025 A000908 DEUTSCHE BANK
025 C000908 D
025 D000908 10907
025 A000909 GE COMPANY
025 C000909 D
025 D000909 24626
025 A000910 GOLDMAN SACHS
025 C000910 D
025 D000910 5364
025 A000911 MERRILL LYNCH
025 C000911 D
025 D000911 24976
025 A000912 MORGAN STANLEY
025 C000912 D
025 D000912 789
025 D000913 0
025 D000914 0
025 D000915 0
025 D000916 0
028 A010900 16830
028 A020900 0
028 A030900 0
028 A040900 17232
028 B010900 16384
028 B020900 0
028 B030900 0
<PAGE> PAGE 45
028 B040900 14376
028 C010900 20624
028 C020900 0
028 C030900 0
028 C040900 21323
028 D010900 20918
028 D020900 3734
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028 E020900 0
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028 F010900 16804
028 F020900 0
028 F030900 0
028 F040900 16556
028 G010900 105294
028 G020900 3734
028 G030900 0
028 G040900 109778
028 H000900 4705
029 000900 Y
030 A000900 254
030 B000900 5.50
030 C000900 2.00
031 A000900 35
031 B000900 0
032 000900 21
033 000900 198
034 000900 Y
035 000900 539
036 A000900 Y
036 B000900 0
037 000900 N
038 000900 0
040 000900 Y
041 000900 Y
042 A000900 0
042 B000900 0
042 C000900 0
042 D000900 0
042 E000900 0
042 F000900 0
042 G000900 0
042 H000900 0
043 000900 6452
044 000900 0
045 000900 Y
046 000900 N
047 000900 Y
<PAGE> PAGE 46
048 000900 0.320
048 A010900 0
048 A020900 0.000
048 B010900 0
048 B020900 0.000
048 C010900 0
048 C020900 0.000
048 D010900 0
048 D020900 0.000
048 E010900 0
048 E020900 0.000
048 F010900 0
048 F020900 0.000
048 G010900 0
048 G020900 0.000
048 H010900 0
048 H020900 0.000
048 I010900 0
048 I020900 0.000
048 J010900 0
048 J020900 0.000
048 K010900 0
048 K020900 0.000
053 A000900 Y
053 B000900 Y
053 C000900 N
054 A000900 Y
054 B000900 Y
054 C000900 Y
054 D000900 N
054 E000900 N
054 F000900 N
054 G000900 Y
054 H000900 N
054 I000900 N
054 J000900 Y
054 K000900 N
054 L000900 N
054 M000900 Y
054 N000900 N
054 O000900 N
055 A000900 N
055 B000900 N
056 000900 Y
057 000900 N
058 A000900 N
059 000900 Y
060 A000900 Y
060 B000900 Y
061 000900 500
062 A000900 N
<PAGE> PAGE 47
062 B000900 0.0
062 C000900 0.0
062 D000900 0.0
062 E000900 0.0
062 F000900 0.0
062 G000900 0.0
062 H000900 0.0
062 I000900 0.0
062 J000900 0.0
062 K000900 0.0
062 L000900 0.0
062 M000900 0.0
062 N000900 0.0
062 O000900 0.0
062 P000900 0.0
062 Q000900 0.0
062 R000900 0.0
063 A000900 0
063 B000900 0.0
066 A000900 Y
066 B000900 N
066 C000900 N
066 D000900 N
066 E000900 N
066 F000900 N
066 G000900 Y
067 000900 Y
068 A000900 N
068 B000900 N
069 000900 N
070 A010900 Y
070 A020900 N
070 B010900 Y
070 B020900 N
070 C010900 Y
070 C020900 N
070 D010900 Y
070 D020900 N
070 E010900 Y
070 E020900 N
070 F010900 Y
070 F020900 N
070 G010900 Y
070 G020900 N
070 H010900 Y
070 H020900 N
070 I010900 N
070 I020900 N
070 J010900 Y
070 J020900 N
070 K010900 Y
<PAGE> PAGE 48
070 K020900 N
070 L010900 Y
070 L020900 Y
070 M010900 Y
070 M020900 N
070 N010900 Y
070 N020900 N
070 O010900 Y
070 O020900 N
070 P010900 Y
070 P020900 N
070 Q010900 N
070 Q020900 N
070 R010900 N
070 R020900 N
071 A000900 1312765
071 B000900 1282531
071 C000900 1353183
071 D000900 45
072 A000900 6
072 B000900 17493
072 C000900 2130
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072 F000900 2211
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072 J000900 78
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072 R000900 16
072 S000900 35
072 T000900 6452
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072 W000900 27
072 X000900 12841
072 Y000900 177
072 Z000900 6959
072AA000900 75024
072BB000900 13465
072CC010900 96088
072CC020900 0
072DD010900 1035
072DD020900 5945
<PAGE> PAGE 49
072EE000900 0
073 A010900 0.1903
073 A020900 0.1071
073 B000900 0.0000
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074 D000900 539445
074 E000900 654
074 F000900 902120
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074 M000900 204146
074 N000900 1866527
074 O000900 191926
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074 T000900 1463412
074 U010900 5511
074 U020900 55373
074 V010900 24.04
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074 W000900 0.0000
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074 Y000900 120102
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075 B000900 1393460
076 000900 0.00
008 A001101 MONITOR CAPITAL ADVISORS, INC
008 B001101 S
008 C001101 801-34412
008 D011101 PRINCETON
008 D021101 NJ
008 D031101 08540
008 A001102 MAINSTAY MANAGEMENT, INC.
008 B001102 A
008 C001102 801-54912
008 D011102 PARSIPPANY
008 D021102 NJ
008 D031102 07054
015 A001101 BANK OF NEW YORK
<PAGE> PAGE 50
015 B001101 C
015 C011101 NEW YORK
015 C021101 NY
015 C031101 10286
015 E011101 X
024 001100 N
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028 G011100 213946
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028 H001100 107964
029 001100 Y
030 A001100 3357
030 B001100 3.00
030 C001100 1.50
031 A001100 303
031 B001100 0
032 001100 1536
033 001100 1517
<PAGE> PAGE 51
034 001100 N
035 001100 0
036 B001100 0
037 001100 N
038 001100 0
039 001100 N
040 001100 Y
041 001100 Y
042 A001100 0
042 B001100 0
042 C001100 0
042 D001100 0
042 E001100 0
042 F001100 0
042 G001100 0
042 H001100 0
043 001100 32
044 001100 0
045 001100 Y
046 001100 N
047 001100 Y
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048 J011100 0
048 J021100 0.000
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048 K021100 0.000
053 A001100 Y
053 B001100 Y
053 C001100 N
054 A001100 Y
054 B001100 Y
054 C001100 Y
054 D001100 N
<PAGE> PAGE 52
054 E001100 N
054 F001100 N
054 G001100 Y
054 H001100 N
054 I001100 N
054 J001100 Y
054 K001100 N
054 L001100 N
054 M001100 Y
054 N001100 N
054 O001100 N
055 A001100 N
055 B001100 N
056 001100 Y
057 001100 Y
058 A001100 N
059 001100 Y
060 A001100 Y
060 B001100 Y
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066 B001100 N
066 C001100 Y
066 D001100 N
066 E001100 N
066 F001100 N
066 G001100 N
067 001100 N
068 A001100 N
068 B001100 N
069 001100 Y
<PAGE> PAGE 53
070 A011100 Y
070 A021100 N
070 B011100 Y
070 B021100 N
070 C011100 N
070 C021100 N
070 D011100 Y
070 D021100 N
070 E011100 N
070 E021100 N
070 F011100 Y
070 F021100 Y
070 G011100 Y
070 G021100 N
070 H011100 Y
070 H021100 N
070 I011100 N
070 I021100 N
070 J011100 Y
070 J021100 N
070 K011100 N
070 K021100 N
070 L011100 Y
070 L021100 N
070 M011100 Y
070 M021100 N
070 N011100 Y
070 N021100 N
070 O011100 Y
070 O021100 N
070 P011100 N
070 P021100 N
070 Q011100 Y
070 Q021100 Y
070 R011100 N
070 R021100 N
071 A001100 139757
071 B001100 5620
071 C001100 515794
071 D001100 1
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072 C001100 3782
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072 G001100 1075
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<PAGE> PAGE 54
072 L001100 68
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<PAGE> PAGE 55
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008 A001201 MACKAY-SHIELDS FINANCIAL CORPORATION
008 B001201 S
008 C001201 801-5594
008 D011201 NEW YORK
008 D021201 NY
008 D031201 10019
008 A001202 MAINSTAY MANAGEMENT, INC.
008 B001202 A
008 C001202 801-54912
008 D011202 PARSIPPANY
008 D021202 NJ
008 D031202 07054
015 A001201 BANK OF NEW YORK
015 B001201 C
015 C011201 NEW YORK
015 C021201 NY
015 C031201 10286
015 E011201 X
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028 A011200 549
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<PAGE> PAGE 56
028 C011200 1131
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029 001200 Y
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<PAGE> PAGE 57
048 001200 0.250
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053 A001200 Y
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054 A001200 Y
054 B001200 Y
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054 E001200 N
054 F001200 N
054 G001200 Y
054 H001200 N
054 I001200 N
054 J001200 Y
054 K001200 N
054 L001200 N
054 M001200 Y
054 N001200 N
054 O001200 N
055 A001200 N
055 B001200 N
056 001200 Y
057 001200 N
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059 001200 Y
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<PAGE> PAGE 58
062 B001200 0.0
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066 A001200 N
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068 A001200 N
068 B001200 N
069 001200 N
070 A011200 Y
070 A021200 N
070 B011200 N
070 B021200 N
070 C011200 N
070 C021200 N
070 D011200 N
070 D021200 N
070 E011200 Y
070 E021200 Y
070 F011200 N
070 F021200 N
070 G011200 Y
070 G021200 N
070 H011200 N
070 H021200 N
070 I011200 N
070 I021200 N
070 J011200 Y
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070 L011200 N
070 L021200 N
070 M011200 N
<PAGE> PAGE 59
070 M021200 N
070 N011200 N
070 N021200 N
070 O011200 Y
070 O021200 N
070 P011200 Y
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070 Q011200 N
070 Q021200 N
070 R011200 N
070 R021200 N
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<PAGE> PAGE 60
073 C001200 0.0000
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008 A001301 MACKAY-SHIELDS FINANCIAL CORPORATION
008 B001301 S
008 C001301 801-5594
008 D011301 NEW YORK
008 D021301 NY
008 D031301 10019
008 A001302 MAINSTAY MANAGEMENT, INC.
008 B001302 A
008 C001302 801-54912
008 D011302 PARSIPPANY
008 D021302 NJ
008 D031302 07054
015 A001301 BANK OF NEW YORK
015 B001301 C
015 C011301 NEW YORK
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<PAGE> PAGE 61
015 E011301 X
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029 001300 Y
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030 B001300 4.50
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<PAGE> PAGE 62
031 A001300 4
031 B001300 0
032 001300 6
033 001300 4
034 001300 Y
035 001300 12
036 A001300 Y
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038 001300 0
039 001300 N
040 001300 Y
041 001300 Y
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042 B001300 0
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042 D001300 0
042 E001300 0
042 F001300 0
042 G001300 0
042 H001300 0
043 001300 32
044 001300 0
045 001300 Y
046 001300 N
047 001300 Y
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048 A011300 0
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048 B011300 0
048 B021300 0.000
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048 C021300 0.000
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048 H011300 0
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048 I021300 0.000
048 J011300 0
048 J021300 0.000
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053 A001300 Y
053 B001300 Y
<PAGE> PAGE 63
053 C001300 N
054 A001300 Y
054 B001300 Y
054 C001300 Y
054 D001300 N
054 E001300 N
054 F001300 N
054 G001300 Y
054 H001300 N
054 I001300 N
054 J001300 Y
054 K001300 N
054 L001300 N
054 M001300 Y
054 N001300 N
054 O001300 N
055 A001300 N
055 B001300 N
056 001300 Y
057 001300 N
058 A001300 N
059 001300 Y
060 A001300 N
060 B001300 N
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064 A001300 Y
064 B001300 N
066 A001300 N
067 001300 N
068 A001300 N
068 B001300 N
<PAGE> PAGE 64
069 001300 N
070 A011300 Y
070 A021300 N
070 B011300 N
070 B021300 N
070 C011300 N
070 C021300 N
070 D011300 N
070 D021300 N
070 E011300 Y
070 E021300 Y
070 F011300 N
070 F021300 N
070 G011300 Y
070 G021300 N
070 H011300 N
070 H021300 N
070 I011300 N
070 I021300 N
070 J011300 Y
070 J021300 Y
070 K011300 N
070 K021300 N
070 L011300 N
070 L021300 N
070 M011300 N
070 M021300 N
070 N011300 N
070 N021300 N
070 O011300 Y
070 O021300 N
070 P011300 Y
070 P021300 N
070 Q011300 N
070 Q021300 N
070 R011300 N
070 R021300 N
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072 H001300 0
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<PAGE> PAGE 65
072 K001300 0
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074 E001300 0
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<PAGE> PAGE 66
074 U021300 637
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008 B001401 S
008 C001401 801-5594
008 D011401 NEW YORK
008 D021401 NY
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008 A001402 MAINSTAY MANAGEMENT, INC.
008 B001402 A
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008 D011402 PARSIPPANY
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008 D031402 07054
015 A001401 BANK OF NEW YORK
015 B001401 C
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015 C021401 NY
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015 E011401 X
024 001400 Y
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<PAGE> PAGE 67
025 D001422 0
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033 001400 4
034 001400 Y
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036 A001400 Y
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038 001400 0
039 001400 N
040 001400 Y
041 001400 Y
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<PAGE> PAGE 68
042 C001400 0
042 D001400 0
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042 H001400 0
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045 001400 Y
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047 001400 Y
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054 A001400 Y
054 B001400 Y
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054 E001400 N
054 F001400 N
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054 H001400 N
054 I001400 N
054 J001400 Y
054 K001400 N
054 L001400 N
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<PAGE> PAGE 69
054 O001400 N
055 A001400 N
055 B001400 N
056 001400 Y
057 001400 N
058 A001400 N
059 001400 Y
060 A001400 N
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064 A001400 N
064 B001400 N
066 A001400 N
067 001400 N
068 A001400 N
068 B001400 Y
069 001400 N
070 A011400 Y
070 A021400 N
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070 D011400 N
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070 F021400 N
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<PAGE> PAGE 70
070 H011400 N
070 H021400 N
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070 I021400 N
070 J011400 Y
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070 L021400 Y
070 M011400 Y
070 M021400 Y
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070 Q021400 N
070 R011400 N
070 R021400 N
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<PAGE> PAGE 71
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<PAGE> PAGE 72
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<PAGE> PAGE 73
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<PAGE> PAGE 74
048 F021500 0.000
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<PAGE> PAGE 75
062 P001500 0.0
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<PAGE> PAGE 76
070 R021500 N
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<PAGE> PAGE 77
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<PAGE> PAGE 78
025 D001603 80
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<PAGE> PAGE 79
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<PAGE> PAGE 80
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<PAGE> PAGE 81
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<PAGE> PAGE 82
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<PAGE> PAGE 83
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<PAGE> PAGE 84
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<PAGE> PAGE 85
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<PAGE> PAGE 86
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<PAGE> PAGE 87
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<PAGE> PAGE 88
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<PAGE> PAGE 89
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<PAGE> PAGE 90
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<PAGE> PAGE 91
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<PAGE> PAGE 92
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<PAGE> PAGE 93
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<PAGE> PAGE 94
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<PAGE> PAGE 95
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<PAGE> PAGE 96
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<PAGE> PAGE 97
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<PAGE> PAGE 98
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<PAGE> PAGE 99
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<PAGE> PAGE 100
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<PAGE> PAGE 101
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<PAGE> PAGE 102
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<PAGE> PAGE 103
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<PAGE> PAGE 104
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<PAGE> PAGE 105
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<PAGE> PAGE 106
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<PAGE> PAGE 107
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<PAGE> PAGE 108
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<PAGE> PAGE 109
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<PAGE> PAGE 110
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<PAGE> PAGE 111
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<PAGE> PAGE 112
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<PAGE> PAGE 113
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<PAGE> PAGE 114
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<PAGE> PAGE 115
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<PAGE> PAGE 116
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<PAGE> PAGE 117
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<PAGE> PAGE 118
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<PAGE> PAGE 119
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<PAGE> PAGE 120
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<PAGE> PAGE 121
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<PAGE> PAGE 122
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<PAGE> PAGE 123
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038 002400 0
039 002400 N
040 002400 Y
041 002400 Y
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042 D002400 0
042 E002400 0
042 F002400 0
042 G002400 0
042 H002400 0
043 002400 3
044 002400 0
045 002400 Y
046 002400 N
047 002400 Y
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048 A012400 0
048 A022400 0.000
048 B012400 0
048 B022400 0.000
048 C012400 0
048 C022400 0.000
048 D012400 0
048 D022400 0.000
048 E012400 0
048 E022400 0.000
048 F012400 0
048 F022400 0.000
048 G012400 0
048 G022400 0.000
048 H012400 0
048 H022400 0.000
048 I012400 0
048 I022400 0.000
048 J012400 0
048 J022400 0.000
048 K012400 0
048 K022400 0.000
053 A002400 Y
053 B002400 Y
053 C002400 N
054 A002400 Y
054 B002400 Y
054 C002400 Y
054 D002400 N
054 E002400 N
054 F002400 N
054 G002400 Y
<PAGE> PAGE 124
054 H002400 N
054 I002400 N
054 J002400 Y
054 K002400 N
054 L002400 N
054 M002400 Y
054 N002400 N
054 O002400 N
055 A002400 N
055 B002400 N
056 002400 Y
057 002400 N
058 A002400 N
059 002400 Y
060 A002400 Y
060 B002400 Y
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062 A002400 Y
062 B002400 0.0
062 C002400 0.0
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062 M002400 0.0
062 N002400 0.0
062 O002400 0.0
062 P002400 30.4
062 Q002400 60.2
062 R002400 7.5
063 A002400 0
063 B002400 13.5
064 A002400 N
064 B002400 N
066 A002400 N
067 002400 N
068 A002400 N
068 B002400 Y
069 002400 N
070 A012400 Y
070 A022400 N
070 B012400 Y
070 B022400 N
070 C012400 Y
070 C022400 N
070 D012400 Y
<PAGE> PAGE 125
070 D022400 N
070 E012400 N
070 E022400 N
070 F012400 Y
070 F022400 N
070 G012400 Y
070 G022400 N
070 H012400 Y
070 H022400 N
070 I012400 Y
070 I022400 N
070 J012400 Y
070 J022400 N
070 K012400 Y
070 K022400 N
070 L012400 Y
070 L022400 Y
070 M012400 Y
070 M022400 Y
070 N012400 Y
070 N022400 N
070 O012400 Y
070 O022400 N
070 P012400 Y
070 P022400 N
070 Q012400 Y
070 Q022400 N
070 R012400 Y
070 R022400 N
071 A002400 10478
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<PAGE> PAGE 126
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<PAGE> PAGE 127
076 002400 0.00
SIGNATURE CARMEN GUZMAN LOWREY
TITLE ATTORNEY
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> MAINSTAY CAPITAL APPRECIATION FUND
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> MAINSTAY VALUE FUND
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<NAME> MAINSTAY VALUE FUND
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY CONVERTIBLE FUND
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<NAME> CLASS A
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY HIGH YIELD CORPORATE BOND FUND
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<PAID-IN-CAPITAL-COMMON> 3,771,758,010
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<NET-INVESTMENT-INCOME> 147,457,016
<REALIZED-GAINS-CURRENT> 65,606,215
<APPREC-INCREASE-CURRENT> (17,726,756)
<NET-CHANGE-FROM-OPS> 195,336,475
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (11,274,202)
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<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 11,238,159
<NUMBER-OF-SHARES-REDEEMED> (7,051,173)
<SHARES-REINVESTED> 803,791
<NET-CHANGE-IN-ASSETS> 220,799,787
<ACCUMULATED-NII-PRIOR> 0
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<OVERDISTRIB-NII-PRIOR> (872,247)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5,652,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 32,663,000
<AVERAGE-NET-ASSETS> 3,799,400,000
<PER-SHARE-NAV-BEGIN> 8.160
<PER-SHARE-NII> 0.350
<PER-SHARE-GAIN-APPREC> 0.120
<PER-SHARE-DIVIDEND> (0.350)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 8.280
<EXPENSE-RATIO> 0.990
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY HIGH YIELD CORPORATE BOND FUND
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<NUMBER> 4
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
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<INVESTMENTS-AT-VALUE> 3,822,280,652
<RECEIVABLES> 287,471,839
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<PAYABLE-FOR-SECURITIES> 221,528,434
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 36,975,218
<TOTAL-LIABILITIES> 258,503,652
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,771,758,010
<SHARES-COMMON-STOCK> 432,003,006
<SHARES-COMMON-PRIOR> 414,624,110
<ACCUMULATED-NII-CURRENT> 1,553,073
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<ACCUM-APPREC-OR-DEPREC> 836,608
<NET-ASSETS> 3,854,945,016
<DIVIDEND-INCOME> 7,215,461
<INTEREST-INCOME> 172,086,274
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<EXPENSES-NET> (31,844,719)
<NET-INVESTMENT-INCOME> 147,457,016
<REALIZED-GAINS-CURRENT> 65,606,215
<APPREC-INCREASE-CURRENT> (17,726,756)
<NET-CHANGE-FROM-OPS> 195,336,475
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (133,757,494)
<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> 51,270,337
<NUMBER-OF-SHARES-REDEEMED> (42,876,365)
<SHARES-REINVESTED> 8,984,924
<NET-CHANGE-IN-ASSETS> 210,201,549
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 15,191,110
<OVERDISTRIB-NII-PRIOR> (872,247)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5,652,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 32,663,000
<AVERAGE-NET-ASSETS> 3,799,400,000
<PER-SHARE-NAV-BEGIN> 8.150
<PER-SHARE-NII> 0.320
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<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 8.270
<EXPENSE-RATIO> 0.990
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY GOVERNMENT FUND
<SERIES>
<NUMBER> 5
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
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<INVESTMENTS-AT-COST> 791,702,889
<INVESTMENTS-AT-VALUE> 796,658,132
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<OTHER-ITEMS-ASSETS> 156,513,750
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<PAYABLE-FOR-SECURITIES> 264,712,187
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 160,792,569
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<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 718,851,417
<SHARES-COMMON-STOCK> 2,049,592
<SHARES-COMMON-PRIOR> 2,069,931
<ACCUMULATED-NII-CURRENT> 0
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<OVERDISTRIBUTION-GAINS> (119,773,930)
<ACCUM-APPREC-OR-DEPREC> 4,955,243
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<DIVIDEND-INCOME> 0
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<EXPENSES-NET> (5,755,649)
<NET-INVESTMENT-INCOME> 14,567,341
<REALIZED-GAINS-CURRENT> 18,806,587
<APPREC-INCREASE-CURRENT> (11,268,851)
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<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (486,919)
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<NUMBER-OF-SHARES-SOLD> 442,168
<NUMBER-OF-SHARES-REDEEMED> (506,737)
<SHARES-REINVESTED> 44,230
<NET-CHANGE-IN-ASSETS> 21,434,145
<ACCUMULATED-NII-PRIOR> 4,118
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<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (138,580,517)
<GROSS-ADVISORY-FEES> 935,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,756,000
<AVERAGE-NET-ASSETS> 628,741,000
<PER-SHARE-NAV-BEGIN> 8.270
<PER-SHARE-NII> 0.220
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<PER-SHARE-DIVIDEND> (0.240)
<PER-SHARE-DISTRIBUTIONS> 0.000
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<PER-SHARE-NAV-END> 8.350
<EXPENSE-RATIO> 1.120
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY GOVERNMENT FUND
<SERIES>
<NUMBER> 5
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
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<INVESTMENTS-AT-VALUE> 796,658,132
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<SENIOR-LONG-TERM-DEBT> 0
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<TOTAL-LIABILITIES> 425,504,756
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 718,851,417
<SHARES-COMMON-STOCK> 70,282,150
<SHARES-COMMON-PRIOR> 77,153,584
<ACCUMULATED-NII-CURRENT> 0
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<OVERDISTRIBUTION-GAINS> (119,773,930)
<ACCUM-APPREC-OR-DEPREC> 4,955,243
<NET-ASSETS> 602,682,543
<DIVIDEND-INCOME> 0
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<EXPENSES-NET> (5,755,649)
<NET-INVESTMENT-INCOME> 14,567,341
<REALIZED-GAINS-CURRENT> 18,806,587
<APPREC-INCREASE-CURRENT> (11,268,851)
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<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (15,434,727)
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<NUMBER-OF-SHARES-SOLD> 2,886,798
<NUMBER-OF-SHARES-REDEEMED> (10,950,209)
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<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (138,580,517)
<GROSS-ADVISORY-FEES> 935,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,756,000
<AVERAGE-NET-ASSETS> 628,741,000
<PER-SHARE-NAV-BEGIN> 8.250
<PER-SHARE-NII> 0.190
<PER-SHARE-GAIN-APPREC> 0.100
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<PER-SHARE-NAV-END> 8.330
<EXPENSE-RATIO> 1.870
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY MONEY MARKET FUND
<SERIES>
<NUMBER> 6
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 454,951,674
<INVESTMENTS-AT-VALUE> 454,951,674
<RECEIVABLES> 944,859
<ASSETS-OTHER> 123,350
<OTHER-ITEMS-ASSETS> O
<TOTAL-ASSETS> 456,019,883
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<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,222,014
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<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 453,810,155
<SHARES-COMMON-STOCK> 102,644,467
<SHARES-COMMON-PRIOR> 80,925,440
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (12,286)
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<NET-ASSETS> 453,797,869
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 12,303,300
<OTHER-INCOME> 0
<EXPENSES-NET> (1,515,737)
<NET-INVESTMENT-INCOME> 10,787,563
<REALIZED-GAINS-CURRENT> 3,596
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 10,791,159
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,297,524)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 305,582,634
<NUMBER-OF-SHARES-REDEEMED> (285,930,912)
<SHARES-REINVESTED> 2,067,305
<NET-CHANGE-IN-ASSETS> 30,212,662
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (15,882)
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,051,000
<AVERAGE-NET-ASSETS> 436,657,000
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.050
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> (0.050)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.700
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY MONEY MARKET FUND
<SERIES>
<NUMBER> 6
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 454,951,674
<INVESTMENTS-AT-VALUE> 454,951,674
<RECEIVABLES> 944,859
<ASSETS-OTHER> 123,350
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<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,222,014
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<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 453,810,155
<SHARES-COMMON-STOCK> 351,165,688
<SHARES-COMMON-PRIOR> 336,637,427
<ACCUMULATED-NII-CURRENT> 0
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<OVERDISTRIBUTION-GAINS> (12,286)
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<NET-ASSETS> 453,797,869
<DIVIDEND-INCOME> 0
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<EXPENSES-NET> (1,515,737)
<NET-INVESTMENT-INCOME> 10,787,563
<REALIZED-GAINS-CURRENT> 3,596
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<NET-CHANGE-FROM-OPS> 10,791,159
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<DISTRIBUTIONS-OF-INCOME> (8,490,039)
<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> 273,326,775
<NUMBER-OF-SHARES-REDEEMED> (266,848,834)
<SHARES-REINVESTED> 8,050,320
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<ACCUMULATED-NII-PRIOR> 0
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<OVERDIST-NET-GAINS-PRIOR> (15,882)
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<GROSS-EXPENSE> 2,051,000
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<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.050
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<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.700
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY TAX FREE BOND FUND
<SERIES>
<NUMBER> 7
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 476,384,764
<INVESTMENTS-AT-VALUE> 489,577,851
<RECEIVABLES> 12,824,158
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<SENIOR-LONG-TERM-DEBT> 0
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<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 477,588,371
<SHARES-COMMON-STOCK> 1,547,583
<SHARES-COMMON-PRIOR> 1,277,972
<ACCUMULATED-NII-CURRENT> (319,430)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (8,754,367)
<ACCUM-APPREC-OR-DEPREC> 13,193,087
<NET-ASSETS> 481,707,661
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 13,909,997
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<NET-INVESTMENT-INCOME> 10,872,047
<REALIZED-GAINS-CURRENT> 898,764
<APPREC-INCREASE-CURRENT> (2,633,373)
<NET-CHANGE-FROM-OPS> 9,137,438
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (341,503)
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<NUMBER-OF-SHARES-SOLD> 400,092
<NUMBER-OF-SHARES-REDEEMED> (152,469)
<SHARES-REINVESTED> 21,987
<NET-CHANGE-IN-ASSETS> 11,518,511
<ACCUMULATED-NII-PRIOR> 8,400
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (9,653,131)
<GROSS-ADVISORY-FEES> 726,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,038,000
<AVERAGE-NET-ASSETS> 487,725,000
<PER-SHARE-NAV-BEGIN> 10.190
<PER-SHARE-NII> 0.250
<PER-SHARE-GAIN-APPREC> (0.050)
<PER-SHARE-DIVIDEND> (0.250)
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<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.140
<EXPENSE-RATIO> 1.010
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY TAX FREE BOND FUND
<SERIES>
<NUMBER> 7
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
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<INVESTMENTS-AT-COST> 476,384,764
<INVESTMENTS-AT-VALUE> 489,577,851
<RECEIVABLES> 12,824,158
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<SENIOR-LONG-TERM-DEBT> 0
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<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 477,588,371
<SHARES-COMMON-STOCK> 45,917,294
<SHARES-COMMON-PRIOR> 47,302,846
<ACCUMULATED-NII-CURRENT> (319,430)
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<OVERDISTRIBUTION-GAINS> (8,754,367)
<ACCUM-APPREC-OR-DEPREC> 13,193,087
<NET-ASSETS> 481,707,661
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 13,909,997
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<EXPENSES-NET> (3,037,950)
<NET-INVESTMENT-INCOME> 10,872,047
<REALIZED-GAINS-CURRENT> 898,764
<APPREC-INCREASE-CURRENT> (2,633,373)
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<DISTRIBUTIONS-OF-INCOME> (10,858,374)
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<NUMBER-OF-SHARES-SOLD> 1,775,551
<NUMBER-OF-SHARES-REDEEMED> (3,727,967)
<SHARES-REINVESTED> 566,864
<NET-CHANGE-IN-ASSETS> (15,800,064)
<ACCUMULATED-NII-PRIOR> 8,400
<ACCUMULATED-GAINS-PRIOR> 0
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<OVERDIST-NET-GAINS-PRIOR> (9,653,131)
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,038,000
<AVERAGE-NET-ASSETS> 487,725,000
<PER-SHARE-NAV-BEGIN> 10.190
<PER-SHARE-NII> 0.230
<PER-SHARE-GAIN-APPREC> (0.040)
<PER-SHARE-DIVIDEND> (0.230)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.150
<EXPENSE-RATIO> 1.260
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY TOTAL RETURN FUND
<SERIES>
<NUMBER> 9
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 1,144,267,342
<INVESTMENTS-AT-VALUE> 1,589,419,848
<RECEIVABLES> 72,954,639
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<NUMBER-OF-SHARES-SOLD> 828,408
<NUMBER-OF-SHARES-REDEEMED> (391,658)
<SHARES-REINVESTED> 22,710
<NET-CHANGE-IN-ASSETS> 173,855,171
<ACCUMULATED-NII-PRIOR> 56,945
<ACCUMULATED-GAINS-PRIOR> 11,424,978
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 12,841,000
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY TOTAL RETURN FUND
<SERIES>
<NUMBER> 9
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 1,144,267,342
<INVESTMENTS-AT-VALUE> 1,589,419,848
<RECEIVABLES> 72,954,639
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<OTHER-ITEMS-LIABILITIES> 211,189,731
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<PAID-IN-CAPITAL-COMMON> 945,239,177
<SHARES-COMMON-STOCK> 55,373,268
<SHARES-COMMON-PRIOR> 55,863,355
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<NET-ASSETS> 1,463,411,511
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<EXPENSES-NET> (12,664,474)
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<REALIZED-GAINS-CURRENT> 61,558,657
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<NET-CHANGE-FROM-OPS> 164,606,068
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<DISTRIBUTIONS-OF-INCOME> (5,944,523)
<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> 3,781,041
<NUMBER-OF-SHARES-REDEEMED> (4,408,166)
<SHARES-REINVESTED> 137,038
<NET-CHANGE-IN-ASSETS> 147,627,720
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<ACCUMULATED-GAINS-PRIOR> 11,424,978
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<GROSS-EXPENSE> 12,841,000
<AVERAGE-NET-ASSETS> 1,270,409,000
<PER-SHARE-NAV-BEGIN> 21.450
<PER-SHARE-NII> 0.110
<PER-SHARE-GAIN-APPREC> 2.590
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<PER-SHARE-NAV-END> 24.040
<EXPENSE-RATIO> 1.890
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000205802
<NAME> MAINSTAY EQUITY INDEX FUND
<SERIES>
<NUMBER> 11
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
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<TOTAL-LIABILITIES> 7,868,572
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<PAID-IN-CAPITAL-COMMON> 430,520,782
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<SHARES-COMMON-PRIOR> 14,094,106
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<ACCUM-APPREC-OR-DEPREC> 202,619,594
<NET-ASSETS> 644,389,551
<DIVIDEND-INCOME> 3,781,768
<INTEREST-INCOME> 892,719
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<EXPENSES-NET> (2,443,009)
<NET-INVESTMENT-INCOME> 2,231,478
<REALIZED-GAINS-CURRENT> 4,870,260
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<DISTRIBUTIONS-OF-INCOME> 0
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<NUMBER-OF-SHARES-SOLD> 6,258,138
<NUMBER-OF-SHARES-REDEEMED> (2,553,040)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 208,700,745
<ACCUMULATED-NII-PRIOR> 15,071
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<OVERDIST-NET-GAINS-PRIOR> 0
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,615,000
<AVERAGE-NET-ASSETS> 542,219,000
<PER-SHARE-NAV-BEGIN> 30.910
<PER-SHARE-NII> 0.110
<PER-SHARE-GAIN-APPREC> 5.180
<PER-SHARE-DIVIDEND> 0.000
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<PER-SHARE-NAV-END> 36.200
<EXPENSE-RATIO> 0.910
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY CALIFORNIA TAX FREE BOND FUND
<SERIES>
<NUMBER> 12
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
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<SHARES-COMMON-STOCK> 1,909,293
<SHARES-COMMON-PRIOR> 1,832,746
<ACCUMULATED-NII-CURRENT> 0
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<NET-ASSETS> 27,830,896
<DIVIDEND-INCOME> 0
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<NET-INVESTMENT-INCOME> 589,080
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<NUMBER-OF-SHARES-SOLD> 216,844
<NUMBER-OF-SHARES-REDEEMED> (159,704)
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<ACCUMULATED-NII-PRIOR> (784)
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<OVERDIST-NET-GAINS-PRIOR> (54,773)
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 200,000
<AVERAGE-NET-ASSETS> 26,491,000
<PER-SHARE-NAV-BEGIN> 9.930
<PER-SHARE-NII> 0.210
<PER-SHARE-GAIN-APPREC> (0.030)
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<PER-SHARE-NAV-END> 9.880
<EXPENSE-RATIO> 1.240
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY CALIFORNIA TAX FREE BOND FUND
<SERIES>
<NUMBER> 12
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
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<DIVIDEND-INCOME> 0
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<EXPENSES-NET> (172,956)
<NET-INVESTMENT-INCOME> 589,080
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<DISTRIBUTIONS-OF-INCOME> (182,090)
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<NUMBER-OF-SHARES-REDEEMED> (61,164)
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<ACCUMULATED-NII-PRIOR> (784)
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<PER-SHARE-NAV-BEGIN> 9.900
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<PER-SHARE-NAV-END> 9.860
<EXPENSE-RATIO> 1.490
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY NEW YORK TAX FREE BOND FUND
<SERIES>
<NUMBER> 13
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
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<OTHER-ITEMS-LIABILITIES> 132,918
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<ACCUMULATED-NET-GAINS> 0
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<NET-ASSETS> 21,754,044
<DIVIDEND-INCOME> 0
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<OTHER-INCOME> 0
<EXPENSES-NET> (130,772)
<NET-INVESTMENT-INCOME> 437,408
<REALIZED-GAINS-CURRENT> 189,418
<APPREC-INCREASE-CURRENT> (184,108)
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<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (330,694)
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<NUMBER-OF-SHARES-SOLD> 223,093
<NUMBER-OF-SHARES-REDEEMED> (78,621)
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<NET-CHANGE-IN-ASSETS> 1,692,404
<ACCUMULATED-NII-PRIOR> 0
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<OVERDIST-NET-GAINS-PRIOR> (17,601)
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 149,000
<AVERAGE-NET-ASSETS> 20,071,000
<PER-SHARE-NAV-BEGIN> 10.090
<PER-SHARE-NII> 0.230
<PER-SHARE-GAIN-APPREC> (0.010)
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY NEW YORK TAX FREE BOND FUND
<SERIES>
<NUMBER> 13
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
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<INVESTMENTS-AT-VALUE> 21,425,083
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<TOTAL-ASSETS> 21,886,962
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<OTHER-ITEMS-LIABILITIES> 132,918
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<OVERDISTRIBUTION-NII> (24,843)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 171,817
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<DIVIDEND-INCOME> 0
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<EXPENSES-NET> (130,772)
<NET-INVESTMENT-INCOME> 437,408
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<DISTRIBUTIONS-OF-INCOME> (331,557)
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<NUMBER-OF-SHARES-SOLD> 136,094
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<PER-SHARE-NAV-END> 10.020
<EXPENSE-RATIO> 1.490
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY INTERNATIONAL BOND FUND
<SERIES>
<NUMBER> 14
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
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<PAYABLE-FOR-SECURITIES> 776,959
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<SHARES-COMMON-PRIOR> 1,213,965
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<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (329,707)
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<NUMBER-OF-SHARES-SOLD> 264,618
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<GROSS-EXPENSE> 387,000
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<PER-SHARE-NAV-BEGIN> 10.100
<PER-SHARE-NII> 0.280
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<PER-SHARE-NAV-END> 10.120
<EXPENSE-RATIO> 1.580
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY INTERNATIONAL BOND FUND
<SERIES>
<NUMBER> 14
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 31,036,140
<INVESTMENTS-AT-VALUE> 30,625,003
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<PAYABLE-FOR-SECURITIES> 776,959
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<EXPENSES-NET> (337,031)
<NET-INVESTMENT-INCOME> 844,947
<REALIZED-GAINS-CURRENT> (335,153)
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<NUMBER-OF-SHARES-SOLD> 164,386
<NUMBER-OF-SHARES-REDEEMED> (422,132)
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<NET-CHANGE-IN-ASSETS> (1,786,790)
<ACCUMULATED-NII-PRIOR> 80,293
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<GROSS-ADVISORY-FEES> 75,000
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<GROSS-EXPENSE> 387,000
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<PER-SHARE-NAV-END> 10.150
<EXPENSE-RATIO> 2.330
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY INTERNATIONAL EQUITY FUND
<SERIES>
<NUMBER> 15
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
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<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 540,595
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<PAID-IN-CAPITAL-COMMON> 82,083,413
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<OVERDISTRIBUTION-GAINS> (2,556,086)
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<DIVIDEND-INCOME> 1,001,919
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<EXPENSES-NET> (1,148,664)
<NET-INVESTMENT-INCOME> 132,404
<REALIZED-GAINS-CURRENT> 518,715
<APPREC-INCREASE-CURRENT> 12,380,515
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<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> 494,404
<NUMBER-OF-SHARES-REDEEMED> (387,714)
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<NET-CHANGE-IN-ASSETS> 14,261,567
<ACCUMULATED-NII-PRIOR> 0
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<OVERDISTRIB-NII-PRIOR> (67,560)
<OVERDIST-NET-GAINS-PRIOR> (3,074,800)
<GROSS-ADVISORY-FEES> 266,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,149,000
<AVERAGE-NET-ASSETS> 89,277,000
<PER-SHARE-NAV-BEGIN> 10.330
<PER-SHARE-NII> 0.020
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<PER-SHARE-DIVIDEND> 0.000
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<EXPENSE-RATIO> 2.010
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY INTERNATIONAL EQUITY FUND
<SERIES>
<NUMBER> 15
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
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<EXPENSES-NET> (1,148,664)
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<REALIZED-GAINS-CURRENT> 518,715
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<OVERDIST-NET-GAINS-PRIOR> (3,074,800)
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY STRATEGIC INCOME FUND
<SERIES>
<NUMBER> 16
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
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<TOTAL-ASSETS> 90,248,816
<PAYABLE-FOR-SECURITIES> 12,840,556
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<PAID-IN-CAPITAL-COMMON> 76,626,999
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<SHARES-COMMON-PRIOR> 1,908,426
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<ACCUM-APPREC-OR-DEPREC> (590,689)
<NET-ASSETS> 76,530,674
<DIVIDEND-INCOME> 50,452
<INTEREST-INCOME> 2,534,298
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<EXPENSES-NET> (658,029)
<NET-INVESTMENT-INCOME> 1,926,721
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<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (670,353)
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<NUMBER-OF-SHARES-SOLD> 191,930
<NUMBER-OF-SHARES-REDEEMED> (211,829)
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<NET-CHANGE-IN-ASSETS> 2,447,686
<ACCUMULATED-NII-PRIOR> 15,118
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (116,065)
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 689,000
<AVERAGE-NET-ASSETS> 71,022,000
<PER-SHARE-NAV-BEGIN> 9.910
<PER-SHARE-NII> 0.290
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<PER-SHARE-DIVIDEND> (0.350)
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<PER-SHARE-NAV-END> 10.010
<EXPENSE-RATIO> 1.320
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY STRATEGIC INCOME FUND
<SERIES>
<NUMBER> 16
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
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<INTEREST-INCOME> 2,534,298
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<PER-SHARE-NAV-END> 10.000
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY STRATEGIC VALUE FUND
<SERIES>
<NUMBER> 17
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
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<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 661,970
<NET-ASSETS> 61,065,593
<DIVIDEND-INCOME> 264,678
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<EXPENSES-NET> (499,120)
<NET-INVESTMENT-INCOME> 228,633
<REALIZED-GAINS-CURRENT> 1,012,792
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<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (114,440)
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<NUMBER-OF-SHARES-SOLD> 6,247,787
<NUMBER-OF-SHARES-REDEEMED> (1,523,182)
<SHARES-REINVESTED> 90,585
<NET-CHANGE-IN-ASSETS> 6,147,681
<ACCUMULATED-NII-PRIOR> 3,385
<ACCUMULATED-GAINS-PRIOR> 44,858
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<OVERDIST-NET-GAINS-PRIOR> 0
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 499,000
<AVERAGE-NET-ASSETS> 45,160,000
<PER-SHARE-NAV-BEGIN> 10.290
<PER-SHARE-NII> 0.070
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<PER-SHARE-DIVIDEND> (0.070)
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<EXPENSE-RATIO> 1.760
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY STRATEGIC VALUE FUND
<SERIES>
<NUMBER> 17
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
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<SHARES-COMMON-PRIOR> 1,197,908
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<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,057,650
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 661,970
<NET-ASSETS> 61,065,593
<DIVIDEND-INCOME> 264,678
<INTEREST-INCOME> 463,075
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<EXPENSES-NET> (499,120)
<NET-INVESTMENT-INCOME> 228,633
<REALIZED-GAINS-CURRENT> 1,012,792
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<NUMBER-OF-SHARES-SOLD> 30,848,837
<NUMBER-OF-SHARES-REDEEMED> (1,841,694)
<SHARES-REINVESTED> 75,619
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<ACCUMULATED-GAINS-PRIOR> 44,858
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<OVERDIST-NET-GAINS-PRIOR> 0
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<GROSS-EXPENSE> 499,000
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<PER-SHARE-NAV-BEGIN> 10.290
<PER-SHARE-NII> 0.040
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<PER-SHARE-DIVIDEND> (0.040)
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<PER-SHARE-NAV-END> 10.850
<EXPENSE-RATIO> 2.510
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY SMALL CAP GROWTH FUND
<SERIES>
<NUMBER> 18
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 1-MO
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JUN-01-1998
<PERIOD-END> JUN-30-1998
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<ACCUMULATED-NII-CURRENT> (15,417)
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<ACCUM-APPREC-OR-DEPREC> 862,297
<NET-ASSETS> 15,033,347
<DIVIDEND-INCOME> 1,039
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<EXPENSES-NET> (31,354)
<NET-INVESTMENT-INCOME> (15,417)
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<NUMBER-OF-SHARES-SOLD> 153,765
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<GROSS-EXPENSE> 31,000
<AVERAGE-NET-ASSETS> 10,246,617
<PER-SHARE-NAV-BEGIN> 10.000
<PER-SHARE-NII> (0.010)
<PER-SHARE-GAIN-APPREC> 0.880
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> 0.000
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<PER-SHARE-NAV-END> 10.870
<EXPENSE-RATIO> 2.900
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY SMALL CAP GROWTH FUND
<SERIES>
<NUMBER> 18
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 1-MO
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JUN-01-1998
<PERIOD-END> JUN-30-1998
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<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 862,297
<NET-ASSETS> 15,033,347
<DIVIDEND-INCOME> 1,039
<INTEREST-INCOME> 14,898
<OTHER-INCOME> 0
<EXPENSES-NET> (31,354)
<NET-INVESTMENT-INCOME> (15,417)
<REALIZED-GAINS-CURRENT> 295,830
<APPREC-INCREASE-CURRENT> 862,297
<NET-CHANGE-FROM-OPS> 1,142,710
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 233,073
<NUMBER-OF-SHARES-REDEEMED> 2,970
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 5,033,347
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 31,000
<AVERAGE-NET-ASSETS> 2,299,070
<PER-SHARE-NAV-BEGIN> 10.000
<PER-SHARE-NII> (0.020)
<PER-SHARE-GAIN-APPREC> 0.880
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.860
<EXPENSE-RATIO> 3.650
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY SMALL CAP VALUE FUND
<SERIES>
<NUMBER> 19
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 1-MO
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JUN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 14,358,622
<INVESTMENTS-AT-VALUE> 14,001,183
<RECEIVABLES> 2,109,394
<ASSETS-OTHER> 57,230
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<TOTAL-ASSETS> 16,167,807
<PAYABLE-FOR-SECURITIES> 2,814,690
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 49,689
<TOTAL-LIABILITIES> 2,864,379
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 13,674,915
<SHARES-COMMON-STOCK> 1,031,303
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (4,891)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (9,157)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (357,439)
<NET-ASSETS> 13,303,428
<DIVIDEND-INCOME> 15,455
<INTEREST-INCOME> 9,759
<OTHER-INCOME> 0
<EXPENSES-NET> (30,105)
<NET-INVESTMENT-INCOME> (4,891)
<REALIZED-GAINS-CURRENT> (9,157)
<APPREC-INCREASE-CURRENT> (357,439)
<NET-CHANGE-FROM-OPS> (371,487)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 131,589
<NUMBER-OF-SHARES-REDEEMED> 296
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 3,303,428
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 10,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 30,000
<AVERAGE-NET-ASSETS> 9,525,828
<PER-SHARE-NAV-BEGIN> 10.000
<PER-SHARE-NII> 0.000
<PER-SHARE-GAIN-APPREC> (0.350)
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 9.650
<EXPENSE-RATIO> 3.050
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY SMALL CAP VALUE FUND
<SERIES>
<NUMBER> 19
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 1-MO
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JUN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 14,358,622
<INVESTMENTS-AT-VALUE> 14,001,183
<RECEIVABLES> 2,109,394
<ASSETS-OTHER> 57,230
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 16,167,807
<PAYABLE-FOR-SECURITIES> 2,814,690
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<OTHER-ITEMS-LIABILITIES> 49,689
<TOTAL-LIABILITIES> 2,864,379
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 13,674,915
<SHARES-COMMON-STOCK> 347,700
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (4,891)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (9,157)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (357,439)
<NET-ASSETS> 13,303,428
<DIVIDEND-INCOME> 15,455
<INTEREST-INCOME> 9,759
<OTHER-INCOME> 0
<EXPENSES-NET> (30,105)
<NET-INVESTMENT-INCOME> (4,891)
<REALIZED-GAINS-CURRENT> (9,157)
<APPREC-INCREASE-CURRENT> (357,439)
<NET-CHANGE-FROM-OPS> (371,487)
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<DISTRIBUTIONS-OF-INCOME> 0
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<NUMBER-OF-SHARES-SOLD> 247,690
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<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 3,303,428
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 30,000
<AVERAGE-NET-ASSETS> 1,990,172
<PER-SHARE-NAV-BEGIN> 10.000
<PER-SHARE-NII> (0.010)
<PER-SHARE-GAIN-APPREC> (0.350)
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 9.640
<EXPENSE-RATIO> 3.800
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY BLUE CHIP GROWTH FUND
<SERIES>
<NUMBER> 20
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 1-MO
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JUN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 14,005,776
<INVESTMENTS-AT-VALUE> 14,555,946
<RECEIVABLES> 625,746
<ASSETS-OTHER> 1,985,440
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 17,167,132
<PAYABLE-FOR-SECURITIES> 1,653,427
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 50,116
<TOTAL-LIABILITIES> 1,703,543
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 14,929,698
<SHARES-COMMON-STOCK> 1,001,446
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (16,631)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 352
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 550,170
<NET-ASSETS> 15,463,589
<DIVIDEND-INCOME> 8,591
<INTEREST-INCOME> 5,654
<OTHER-INCOME> 0
<EXPENSES-NET> (30,876)
<NET-INVESTMENT-INCOME> (16,631)
<REALIZED-GAINS-CURRENT> 352
<APPREC-INCREASE-CURRENT> 550,170
<NET-CHANGE-FROM-OPS> 533,891
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 101,436
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 5,463,489
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 10,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 31,000
<AVERAGE-NET-ASSETS> 9,582,535
<PER-SHARE-NAV-BEGIN> 10.000
<PER-SHARE-NII> (0.010)
<PER-SHARE-GAIN-APPREC> 0.390
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.380
<EXPENSE-RATIO> 2.980
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY BLUE CHIP GROWTH FUND
<SERIES>
<NUMBER> 20
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 1-MO
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JUN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 14,005,776
<INVESTMENTS-AT-VALUE> 14,555,946
<RECEIVABLES> 625,746
<ASSETS-OTHER> 1,985,440
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 17,167,132
<PAYABLE-FOR-SECURITIES> 1,653,427
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 50,116
<TOTAL-LIABILITIES> 1,703,543
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 14,929,698
<SHARES-COMMON-STOCK> 488,181
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (16,631)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 352
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 550,170
<NET-ASSETS> 15,463,589
<DIVIDEND-INCOME> 8,591
<INTEREST-INCOME> 5,654
<OTHER-INCOME> 0
<EXPENSES-NET> (30,876)
<NET-INVESTMENT-INCOME> (16,631)
<REALIZED-GAINS-CURRENT> 352
<APPREC-INCREASE-CURRENT> 550,170
<NET-CHANGE-FROM-OPS> 533,891
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 388,370
<NUMBER-OF-SHARES-REDEEMED> 199
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 5,463,589
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
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<GROSS-ADVISORY-FEES> 10,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 31,000
<AVERAGE-NET-ASSETS> 2,423,609
<PER-SHARE-NAV-BEGIN> 10.000
<PER-SHARE-NII> (0.010)
<PER-SHARE-GAIN-APPREC> 0.390
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.380
<EXPENSE-RATIO> 3.730
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY EQUITY INCOME FUND
<SERIES>
<NUMBER> 21
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 1-MO
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JUN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 10,861,903
<INVESTMENTS-AT-VALUE> 10,886,956
<RECEIVABLES> 3,039,451
<ASSETS-OTHER> 57,488
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 13,983,895
<PAYABLE-FOR-SECURITIES> 3,278,461
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 45,361
<TOTAL-LIABILITIES> 3,323,822
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 10,621,070
<SHARES-COMMON-STOCK> 916,018
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 13,854
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 96
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 25,053
<NET-ASSETS> 10,660,073
<DIVIDEND-INCOME> 12,992
<INTEREST-INCOME> 26,640
<OTHER-INCOME> 0
<EXPENSES-NET> (25,778)
<NET-INVESTMENT-INCOME> 13,854
<REALIZED-GAINS-CURRENT> 96
<APPREC-INCREASE-CURRENT> 25,053
<NET-CHANGE-FROM-OPS> 39,003
<EQUALIZATION> 0
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<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 16,008
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<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 660,073
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 26,000
<AVERAGE-NET-ASSETS> 9,058,738
<PER-SHARE-NAV-BEGIN> 10.000
<PER-SHARE-NII> 0.010
<PER-SHARE-GAIN-APPREC> 0.020
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.030
<EXPENSE-RATIO> 2.970
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY EQUITY INCOME FUND
<SERIES>
<NUMBER> 21
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 1-MO
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JUN-01-1998
<PERIOD-END> JUN-30-1998
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<INVESTMENTS-AT-VALUE> 10,886,956
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<TOTAL-ASSETS> 13,983,895
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<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 45,361
<TOTAL-LIABILITIES> 3,323,822
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 10,621,070
<SHARES-COMMON-STOCK> 146,410
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 13,854
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 96
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 25,053
<NET-ASSETS> 10,660,073
<DIVIDEND-INCOME> 12,992
<INTEREST-INCOME> 26,640
<OTHER-INCOME> 0
<EXPENSES-NET> (25,778)
<NET-INVESTMENT-INCOME> 13,854
<REALIZED-GAINS-CURRENT> 96
<APPREC-INCREASE-CURRENT> 25,053
<NET-CHANGE-FROM-OPS> 39,003
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
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<NUMBER-OF-SHARES-SOLD> 46,400
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<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 660,073
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 26,000
<AVERAGE-NET-ASSETS> 1,186,614
<PER-SHARE-NAV-BEGIN> 10.000
<PER-SHARE-NII> 0.010
<PER-SHARE-GAIN-APPREC> 0.020
<PER-SHARE-DIVIDEND> 0.000
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<PER-SHARE-NAV-END> 10.030
<EXPENSE-RATIO> 3.720
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY GROWTH OPPORTUNITIES FUND
<SERIES>
<NUMBER> 22
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 1-MO
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JUN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 11,917,353
<INVESTMENTS-AT-VALUE> 12,616,533
<RECEIVABLES> 1,329,616
<ASSETS-OTHER> 58,544
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<TOTAL-ASSETS> 14,004,693
<PAYABLE-FOR-SECURITIES> 1,831,962
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 45,892
<TOTAL-LIABILITIES> 1,877,854
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11,427,697
<SHARES-COMMON-STOCK> 932,262
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (8,749)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 8,711
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 699,180
<NET-ASSETS> 12,126,839
<DIVIDEND-INCOME> 9,525
<INTEREST-INCOME> 8,035
<OTHER-INCOME> 0
<EXPENSES-NET> (26,309)
<NET-INVESTMENT-INCOME> (8,749)
<REALIZED-GAINS-CURRENT> 8,711
<APPREC-INCREASE-CURRENT> 699,180
<NET-CHANGE-FROM-OPS> 699,142
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
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<NUMBER-OF-SHARES-SOLD> 32,252
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<NET-CHANGE-IN-ASSETS> 2,126,839
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<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 26,000
<AVERAGE-NET-ASSETS> 9,368,622
<PER-SHARE-NAV-BEGIN> 10.000
<PER-SHARE-NII> (0.010)
<PER-SHARE-GAIN-APPREC> 0.650
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.640
<EXPENSE-RATIO> 2.880
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY GROWTH OPPORTUNITIES FUND
<SERIES>
<NUMBER> 22
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 1-MO
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JUN-01-1998
<PERIOD-END> JUN-30-1998
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<TOTAL-LIABILITIES> 1,877,854
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11,427,697
<SHARES-COMMON-STOCK> 207,861
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (8,749)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 8,711
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 699,180
<NET-ASSETS> 12,126,839
<DIVIDEND-INCOME> 9,525
<INTEREST-INCOME> 8,035
<OTHER-INCOME> 0
<EXPENSES-NET> (26,309)
<NET-INVESTMENT-INCOME> (8,749)
<REALIZED-GAINS-CURRENT> 8,711
<APPREC-INCREASE-CURRENT> 699,180
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<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
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<NUMBER-OF-SHARES-SOLD> 107,851
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 2,126,839
<ACCUMULATED-NII-PRIOR> 0
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK> 0000787441
<NAME> MAINSTAY RESEARCH VALUE FUND
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<NAME> CLASS A
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<S> <C>
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<TABLE> <S> <C>
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<CIK> 0000787441
<NAME> MAINSTAY RESEARCH VALUE FUND
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<NAME> CLASS B
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<S> <C>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY GLOBAL HIGH YIELD
<SERIES>
<NUMBER> 24
<NAME> CLASS A
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<S> <C>
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> MAINSTAY GLOBAL HIGH YIELD
<SERIES>
<NUMBER> 24
<NAME> CLASS B
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<S> <C>
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</TABLE>
