As filed with the Securities and Exchange Commission on December 28, 1999
Securities Act File No. 33-36962
Investment Company Act File No. 811-6175
================================================================================
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-----------------
FORM N1A
Registration Statement Under The Securities Act Of 1933 |_|
Pre-Effective Amendment No. ___ |_|
Post-Effective Amendment No. 22 |X|
and/or
Registration Statement Under The Investment Company Act Of 1940 |_|
Amendment No. 24 |X|
(Check appropriate box or boxes)
MainStay Institutional Funds, Inc.
(Exact Name of Registrant as Specified in Charter)
51 Madison Avenue
New York, NY 10010
(Address of Principal Executive Offices)
Registrant's Telephone Number, including Area Code: (212) 576-8149
Joseph McBrien, Esq.
51 Madison Avenue
New York, New York 10010
(Name and Address of Agent for Service)
Copy to:
Ruth S. Epstein, Esq.
Dechert Price & Rhoads
1775 Eye Street, N.W.
Washington, D.C. 20006
-----------------
It is proposed that this filing will become effective (check appropriate
box):
| | Immediately upon filing pursuant to paragraph (b) of Rule 485
| | On __________ pursuant to paragraph (b)(1)(v) of Rule 485
| | 60 days after filing pursuant to paragraph (a)(1) of Rule 485
|X| On February 29, 2000 pursuant to paragraph (a)(1) of Rule 485
| | 75 days after filing pursuant to paragraph (a)(2)
| | On ___________ pursuant to paragraph(a)(1) of Rule 485
If appropriate, check the following box:
| | This post-effective amendment designated a new effective date
for a previously filed post-effective amendment.
<PAGE>
MAINSTAY INSTITUTIONAL FUNDS, INC.
CONTENTS OF REGISTRATION STATEMENT
This registration statement consists of the following papers and documents:
- Cover Sheet
- Contents of Registration Statement
- Explanatory Note
- Supplement to the Prospectus and Supplement to Statement
of Additional Information
- Part C- Other Information and Signature Page
EXPLANATORY NOTE
This Post-Effective Amendment is being filed pursuant to Rule 485(a) solely
for the purpose of adding certain information which is set forth in the
Supplements to the Registrant's Prospectus and Statement of Additional
Information included herein. This amendment incorporates by reference the
Registrant's Prospectus and Statement of Additional Information as filed with
the Securities and Exchange Commission in Post-Effective Amendment No. 21 to the
Registrant's Registration Statement, on April 30, 1999.
The Registrant's updated Prospectus and Statement of Additional Information
dated February 29, 2000, which will include all required current financial
statements, will be filed pursuant to Rule 485(b), on or before February 29,
2000.
<PAGE>
Supplement to the Prospectus of Asset Manager Fund and Value Equity Fund
dated December 20, 1999
MAINSTAY INSTITUTIONAL FUNDS INC.
Asset Manager Fund
Value Equity Fund
Supplement dated December 20, 1999
to the Prospectus dated May 1, 1999
The Asset Manager Fund's first principal investment strategy on page 4 of
the prospectus is hereby deleted and replaced by the following:
o 30% to 80% of net assets in common stocks as follows:
i. 15% to 80% of net assets in common stocks selected to
parallel the performance of the S&P 500 Composite Stock
Price Index (the "S&P 500 Index")
ii. 0% to 10% of net assets in common stocks selected to
parallel the performance of the S&P MidCap 400 Index
iii. 0% to 5% of net assets in common stocks selected to parallel
the performance of the S&P SmallCap 600 Index
iv. 0% to 5% of net assets in equity securities selected to
parallel the performance of the Morgan Stanley REIT Index (a
measure of real estate equity performance)
At least 30% of the Fund's net assets will be invested in
U.S. equity securities.
"S&P 500 (R)," "S&P MidCap 400 Index," "S&P SmallCap 600 Index" and "S& P(R)"
are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use
by Monitor Capital Advisors LLC. Standard & Poor's does not sponsor, endorse,
sell or promote the Fund or represent the advisability of investing in the Fund.
Each S&P Index is an unmanaged index and is considered generally representative
of a different capitalization segment of the U.S. stock market.
The following is hereby added to the Asset Manager Fund's principal risks
on page 5 of the prospectus:
Historically, mid- and small-cap stocks, such as those in the S&P MidCap
400 Index and the S&P SmallCap 600 Index, have been more volatile than, and
at times have performed quite differently from, stocks in the S&P 500
Index.
Mr. Denis P. Laplaige is no longer a portfolio manager of the Value Equity
Fund. Mr. Laplaige's biography, which appears on page 66 of the prospectus is
hereby deleted.
<PAGE>
Supplement to the Statement of Additional Information of the Asset Manager
Fund dated December 20, 1999.
MAINSTAY INSTITUTIONAL FUNDS INC.
Asset Manager Fund
Supplement dated December 20, 1999 to
the Statement of Additional Information dated May 1, 1999
This Supplement to the Statement of Additional Information ("SAI")
supplements the information contained in the Company's Prospectus dated May 1,
1999, as supplemented on December 20, 1999 (the "Prospectus"), and should be
read in conjunction with the Prospectus.
The following is hereby added to the section titled "Investment Practices
and Instruments Common to Multiple Funds," on page 24 of the SAI:
Real Estate Investment Trusts
The Asset Manager Fund may invest in securities issued by equity real
estate investment trusts ("REITs"). REITs pool investors' funds for
investment primarily in income-producing commercial real estate or
real-estate related loans. REITs are similar to holding companies in
that they are essentially holding companies that rely on professional
managers to supervise their investments. A REIT is not taxed on income
distributed to shareholders if it complies with several requirements
relating to its organization, ownership, assets, and income and the
requirement that it distribute to its shareholders at least 95% of its
taxable income (other than net capital gains) for each taxable year.
Investment in REITs may be subject to many of the same risks as a
direct investment in real estate. This is due to the fact that the
value of the REIT may be affected by the value of the real estate
owned by the companies in which it invests. These risks include
changes in economic conditions, interest rates, property values,
property tax increases, overbuilding and increased competition,
environmental contamination zoning and natural disasters.
The following replaces the first three paragraphs under the section titled
"Special Considerations for EAFE Index Fund, Indexed Equity Fund, Asset Manager
Fund and Indexed Bond Fund" on page 37 of the SAI:
o Standard & Poor's(R), "S&P" 500(R), "S&P(R)", "Standard & Poor's 500",
"500", "S&P MidCap 400 Index" and "S&P SmallCap 600 Index" are
trademarks of The McGraw-Hill Companies, Inc. and have been licensed
for use by Monitor Capital. S&P does not sponsor, endorse, sell or
promote the Indexed Equity Fund or the Asset Manager Fund or represent
the advisability of investing in the Funds.
<PAGE>
o The Indexed Equity Fund and the Asset Manager Fund are not sponsored,
endorsed, sold or promoted by Standard & Poor's, a division of The
McGraw-Hill Companies, Inc. ("S&P"). S&P makes no representation or
warranty, express or implied, to the owners of the Funds, or any
member of the public regarding the advisability of investing in
securities generally or in the Funds particularly or the ability of
the S&P 500 Index, the S&P MidCap 400 Index or the S&P SmallCap 600
Index to track general stock market performance. S&P's only
relationship to Monitor is the licensing of certain trademarks and
trade names of S&P and of the S&P 500 Index, the S&P MidCap 400 Index
or the S&P SmallCap 600 Index which are determined, composed and
calculated by S&P without regard to Monitor or the Funds. S&P has no
obligation to take the needs of Monitor or the owners of the Funds
into consideration in determining, composing or calculating the S&P
500 Index, the S&P MidCap 400 Index or the S&P SmallCap 600 Index. S&P
is not responsible for and has not participated in the determination
of the prices and amount of the Funds or the timing of the issuance or
sale of the Funds or in the determination or calculation of the
equation by which the Funds are to be converted into cash. S&P has no
obligation or liability in connection with the administration,
marketing or trading of the Funds.
o S&P does not guarantee the accuracy and/or the completeness of the S&P
500 Index, S&P MidCap 400 Index, S&P SmallCap 600 Index or any data
included therein and S&P shall have no liability for any errors,
omissions, or interruptions therein. S&P makes no warranty, express or
implied, as to results to be obtained by Monitor, owners of the Funds,
or any other person or entity from the use of the S&P Index or any
data included therein. S&P makes no express or implied warranties, and
expressly disclaims all warranties of merchantability or fitness for a
particular purpose or use with respect to the S&P 500 Index, S&P
MidCap 400 Index, S&P SmallCap 600 Index or any data included therein.
Without limiting any of the foregoing, in no event shall S&P have any
liability for any special, punitive, indirect, or consequential
damages (including lost profits), even if notified of the possibility
of such damages.
The following is added to the section titled "Special Considerations for
EAFE Index Fund, Indexed Equity Fund, Asset Manager Fund and Indexed Bond Fund"
on page 38 of the SAI:
o The Asset Manager Fund also invests in common stocks selected to
replicate the S&P MidCap 400 Index, the S&P SmallCap 600 Index and the
Morgan Stanley REIT Index.
o The S&P MidCap 400 Index consists of 400 domestic common stocks chosen
for market size, liquidity, and industry group representation. The S&P
MidCap 400 Index is an unmanaged market-value weighted index in which
each stock's weight is proportionate to its market value. As of
November 30, 1999, the range of market capitalization of companies
within the S&P MidCap 400 Index was $195 million to $23.4 billion.
o The S&P SmallCap 600 Index consists of 600 domestic common stocks
chosen for market size, liquidity, and industry group representation
(bid-asked spread, ownership, share turnover and number of no trade
days). The S&P SmallCap 600 Index is an unmanaged market-value
weighted index in which each stock's weight is proportionate to its
market value. As of November 30, 1999, the range of market
capitalization of companies in the S&P SmallCap 600 Index was $27
million to $3.3 billion. The Morgan Stanley REIT Index is a
capitalization-weighted index of the most actively traded real estate
investment trusts, and is designed to be a measure of real estate
equity performance. The Morgan Stanley REIT Index is calculated by
Morgan Stanley and Co., Inc. and reflects reinvestment of all
applicable dividends, capital gains and interest.
<PAGE>
MAINSTAY INSTITUTIONAL FUNDS INC.
PART C.
OTHER INFORMATION
ITEM 23. Exhibits
a. Exhibits:
(1) Articles of Incorporation(1)
(2) Articles Supplementary(2)
(3) Articles of Amendment(4)
(4) Form of Articles Supplementary(6)
(5) Articles of Amendment(7)
(6) Form of Articles Supplementary(12)
(7) Articles of Amendment
b. By-laws(1)
c. Specimen Certificates for Common Stock(3)
d. (1) Form of (composite) Management Agreement between MainStay
Institutional Funds, Inc., on behalf of the Bond Fund, EAFE Index
Fund, Growth Equity Fund, Indexed Bond Fund, Indexed Equity Fund,
International Bond Fund, International Equity Fund, Money Market
Fund, Asset Manager Fund (formerly Multi-Asset Fund), Short-Term
Bond Fund and Value Equity Fund, and MainStay Management LLC. (11)
(2) Form of (composite) Sub-Advisory Agreement between MainStay Management
LLC, on behalf of the Bond Fund, Growth Equity Fund, International
Bond Fund, International Equity Fund, Short-Term Bond Fund and Value
Equity Fund, and MacKay Shields LLC. (11)
(3) Form of (composite) Sub-Advisory Agreement between MainStay Management
LLC, on behalf of the EAFE Index Fund, Indexed Bond Fund, Indexed
Equity Fund and Asset Manager Fund (formerly Multi-Asset Fund), and
Monitor Capital Advisors LLC. (11)
(4) Form of Sub-Advisory Agreement between MainStay Management LLC, on
behalf of the Money Market Fund and New York Life Insurance Company.
(11)
<PAGE>
e. Distribution Agreement(5)
f. Inapplicable
g. Form of Custodian Contract(6)
h. (1) Form of Transfer Agency and Service Agreement(2)
(2) Form of License Agreement(2)
(3) Form of Service Agreement with New York Life Benefit Services,
Inc.(10)
(4) Form of Service Agreement with New York Life Insurance Company(10)
i. Opinion and Consent of Counsel (3)
j. Consent of Independent Accountants (13)
k. Inapplicable
l. Initial Subscription Agreement(3)
m. (1) Form of Account Application(3)
(2) Shareholder Services Plan(10)
(3) Amended and Restated Shareholder Services Plan(12)
(4) Shareholder Services Plan for Money Market Fund Sweep Shares(12)
(5) Plan of Distribution Pursuant to Rule 12b-1 for Money Market Fund
Sweep Shares (12)
n. Financial Data Schedules (13)
o. (a) Multiple Class Plan(11)
(b) Form of Amended and Restated Multiple Class Plan(12)
- ----------------------------
1. Filed with Registration Statement No. 33-36962 on September 21, 1990.
2. Filed with Pre-Effective Amendment No. 1 to Registration Statement No.
33-36962 on November 19, 1990.
3. Filed with Pre-Effective Amendment No. 2 to Registration Statement No.
33-36962 on December 26, 1990.
4. Filed with Post-Effective Amendment No. 4 to Registration Statement No.
33-36962 on November 2, 1992.
5. Filed with Post-Effective Amendment No. 6 to Registration Statement No.
33-36962 on April 29, 1994.
6. Filed with Post-Effective Amendment No. 7 to Registration Statement No.
33-36962 on October 14, 1994.
7. Filed with Post-Effective Amendment No. 8 to Registration Statement No.
33-36962 on December 29, 1994.
8. Filed with Post-Effective Amendment No. 10 to Registration Statement No.
33-36962 on April 28, 1995.
9. Filed with Post-Effective Amendment No. 12 to Registration Statement No.
33-36962 on February 28, 1996.
10. Filed with Post-Effective Amendment No. 14 to Registration Statement No.
33-36962 on May 1, 1997.
11. Filed with Post-Effective Amendment No. 17 to Registration Statement No.
33-36962 on May 1, 1997.
12. Filed with Post-Effective Amendment No. 19 to Registration Statement No.
33-36962 on September 25, 1998.
13. To be filed by amendment.
<PAGE>
ITEM 24. Persons Controlled By Or Under Common Control With Registrant
The following chart indicates the persons controlled by New York Life:
<TABLE>
<CAPTION>
<S> <C> <C>
Jurisdiction of Percent of Voting
Name Organziation Securities Owned
---- --------------- -----------------
Eagle Strategies Corp. Arizona 100%
NYLIFE Administration Corp. Texas 100%
MacKay Shields LLC Delaware 100%
Madison Square Advisors LLC Delaware 100%
The Mainstay Funds Massachusetts ***
MainStay Management LLC Delaware 100%
MainStay Shareholder Services, Inc. Delaware 100%
Monitor Capital Advisors, Inc. Delaware 100%
Delaware 100%
New York Life Capital Corporation
Delware 100%
New York Life Insurance and Annuity Corporation
New York Life International Investment Inc. Delaware
which owns 100% of the shares of:
KOHAP New York Life Insurance Ltd. South Korea
and which owns 50.2% of the shares of:
P.T. Asuransi Jiwa Sequ - New York Life Indonesia
and which owns 49% of the shares of:
GEO New York Life, S.A. Mexico
Monetary Research Ltd. Bermuda
and 100% of the shares of:
NYL Management Limited England
MainStay VP Series Fund, Inc. Maryland
New York Life International, Inc.
(formerly New York Life Delaware
Worldwide Holding, Inc.),
New York Life Worldwide Capital, Inc. Delaware
New York Life Worldwide Development, Inc. Delaware
New York Life Worldwide (Bermuda) Ltd.
which owns 100% of the shares of:
New York Life Insurance Worldwide
LTD Bermuda
New York Life (U.K.) Ltd., which owns 100% of the shares of:
Windsor Construction Company Limited and 16.7%
of Japan
Gamma Asset Management Limited and 31.5% of
the shares U.K. 100%
of: Japan
Life Assurance Holding Corporation Limited,
which owns 100% of the shares of: South Korea
Windsor Life Assurance Company Limited
<PAGE>
Jurisdiction of Percent of Voting
Name Organziation Securities Owned
---- --------------- -----------------
Limited Indonesia
New York Life Benefit Services, Inc.
which owns 100% of ADQ Massachusetts 100%
Insurance Agency, Inc. Massachusetts
New York Life Trust Company New York 100%
NYLIFE Distributors Inc. Delaware 100%
NYLIFE Healthcare Management Inc., which owns Delaware
54.3% of total Delaware combined stock and
89.6% of the voting rights of:
Express Scripts, Inc., which owns 100% of Delaware
the shares of:
Ivtx, Inc. Texas
Great Plains Reinsurance Company Arizona
Practice Patterns Science, Inc.
ESI Canada Holdings, Inc., which Delaware
owns 100% of the shares of: Canada
ESI Canada, Inc.
Express Scripts Vision Corporation and owns Delaware
100% of the shares of:
Avanti Corporate Health Systems Inc.,
which owns 100% of: Delaware
Avanti of the District, Inc. Maryland
Avanti of New Jersey, Inc.
and owns 80% of the shares of
Physicians Health Services Maryland
Foundation, Inc.
Prime Provider Corp., which owns 100% of
the shares of: New York
Prime Provider Corp. of Texas Texas
WellPath of Arizona Reinsurance
Company Arizona
NYLCare NC Holdings, Inc. which owns 25% of the
shares of:
WellPath Community Health Plans, L.L.C. North Carolina
which owns 100% of WPCHP Holdings, Inc.
and 99% of:
WellPath Preferred Services, L.L.C.
and WellPath Select Holdings, L.L.C., Delaware
which owns 100% of: North Carolina
WellPath Select, Inc. North Carolina
WellPath of Carolina, Inc.
New York Life International Investment
Asia, Ltd.
ETHIX Southeast, Inc. Mauritius 100%
NYLIFE LLC Arizona
NYLIFE Insurance Company of Arizona Arizona 100%
NYLIFE Refinery, Inc. New York 100%
NYLIFE Securities Inc. Delaware 100%
NYLINK Insurance Agency Incorporated Delaware 100%
which owns 100% of the shares of:
NYLINK Insurance Agency of Alabama Alabama 100%
NYLINK Insurance Agency of New Mexico New Mexico
NYLINK Insurance Agency of Hawaii
Incorporated
NYLINK Insurance Agency of Massachusetts, Massachusetts
Incorporated and 50% of the shares of
NYLIFE Insurance
Agency of Ohio, Incorporated Ohio 0%
NYLIFE International Investment Asia Ltd. Mauritius
100%
NYLTEMPS Inc. Delaware
+ By including the indicated corporation in this list, New York life is
not stating or admitting that said corporations are under its actual
control; rather, these corporations are listed here to ensure full
compliance with the requirements of this Form N-1A.
* New York Life serves as investment adviser to this entity, the shares
of which are held of record by separate accounts of NYLIAC (for the
MainStay VP Series Fund, Inc.). New York Life disclaims any beneficial
ownership and control of this entity.
** New York Life Foundation does not issue voting securities.
*** MacKay-Shields Financial Corporation and Monitor Capital Advisors,
Inc. serve as sub-advisers to this entity.
</TABLE>
ITEM 25. Indemnification
Reference is made to Article VI of the Registrant's By-Laws (Exhibit 2),
and Article VII, Section 2 of the Registrant's Articles of Incorporation
(Exhibit 1), which are incorporated by reference herein.
Insofar as indemnification for liability arising under the Securities Act
of 1933 may be permitted to trustees, officers and controlling persons of the
Registrant pursuant to the foregoing provisions, or otherwise, the Registrant
has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Act and is,
therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the Registrant of expenses incurred
or paid by a trustee, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by such
trustee, officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Act and will be governed by the final adjudication of
such issue.
ITEM 26. Business Or Other Connections Of Investment Advisers
The business of MainStay Management LLC is summarized in the Prospectus
incorporated by reference in Part A of this Registration Statement, which
summary is incorporated herein by reference.
The business or other connections of each director and officer of MainStay
Management LLC is currently listed in the investment adviser registration on
Form ADV for MainStay Management, (File No. 801-54912) and is hereby
incorporated herein by reference thereto.
The business of MacKay-Shields LLC is summarized in the Prospectus
incorporated by reference in Part A of this Registration Statement, which
summary is incorporated herein by reference.
The business of Monitor Capital Advisors LLC is summarized in the
Prospectus incorporated by reference in Part A of this Registration Statement,
which summary is incorporated herein by reference.
The business or other connections of each director and officer of
Monitor Capital Advisors LLC is currently listed in the investment adviser
registration on Form ADV for Monitor Capital Advisors LLC (File No.
801-34412) and is hereby incorporated herein by reference thereto.
The business of New York Life Insurance Company is summarized in the
Prospectus incorporated by reference in Part A of this Registration Statement,
which summary is incorporated herein by reference.
The business or other connections of each director and officer of New York
Life Insurance Company is currently listed in the investment adviser
registration on Form ADV for New York Life Insurance Company (File No.
801-19525) and is hereby incorporated herein by reference thereto.
ITEM 27. Principal Underwriters
a. NYLIFE Distributors Inc. also acts as the principal underwriter for The
MainStay Funds (File No. 33-2610) and NYLIAC Variable Universal Life
Separate Accounts I and II.
<PAGE>
b. Position(s) and Office(s)
<TABLE>
<CAPTION>
<S> <C> <C>
(1) (2) (3)
Name and Principal Position(s) and Office(s) Position(s) and Office
Business Address with NYLIFE Distributors Office(s) with Registrant
- ------------------ ------------------------- -------------------------
Davidson, Sheila Chief Compliance Officer None
51 Madison Avenue
New York, NY 10010
Brady, Robert E. Director and Vice President None
260 Cherry Hill Road
Parsippany, NJ 07054
Senior Vice President
Boyce, Jefferson C. Director
51 Madison Avenue
New York, NY 10010
Roussin, Stephen C. Director & Senior Vice President Director and Chairman
300 Interpace Parkway
Parsippany, NJ 07054
Gallo, Michael G. Director None
51 Madison Avenue
New York, NY 10010
Rock, Robert D. Director None
51 Madison Avenue
New York, NY 10010
Boccio, Frank M. Director None
51 Madison Avenue
New York, NY 10010
Hildebrand, Phillip J. Director None
51 Madison Avenue
New York, NY 10010
Levy, Richard D. Director None
51 Madison Avenue
New York, NY 10010
Adasse, Louis H. Corporate Vice President None
51 Madison Avenue,
New York, NY 10010
Flanagan, John Vice President and Treasurer, Chief
300 Interpace Parkway Chief Financial Officer Financial and Accounting Officer
Parsippany, NJ 07054
Calhoun, Jay S. Vice President and Treasurer None
51 Madison Avenue
New York, NY 10010
Warga, Thomas J. Senior Vice President and General None
51 Madison Avenue Auditor
New York, NY 10010
Livornese, Linda M. Vice President President
Morris Corporate Center I
Building A, 300
Interpace Parkway
Parsippany, NJ 27054
Murray, Thomas J. Corporate Vice President None
51 Madison Avenue
New York, NY 10010
Zuccaro, Richard W. Tax Vice President Tax Vice President
51 Madison Avenue
New York, NY 10010
Krystel, David J. Vice President None
51 Madison Avenue
New York, NY 10010
O'Byrne, John H. None Vice President and Chief
51 Madison Avenue Compliance Officer
New York, NY 10010
Daoust, George R. Assistant Vice President None
300 Interpace Parkway
Parsippany, NJ 07054
Arizmendi, Arphiela Assistant Vice President Treasurer
300 Interpace Parkway Assistant
Parsippany, NJ 07054
Cirillo, Antoinette B. Assistant Vice President Assistant Treasurer
300 Interpace Parkway
Parsippany, NJ 07054
Gordon, Mark President None
300 Interpace Parkway
Parsippany, NJ 07054
McInerney, Barbara Vice President None
51 Madison Avenue
New York, NY
Leier, Albert W. Corporate Vice Presidnet None
300 Interpace Parkway
Parsippany, NJ 07054
Whittaker, Lori Assistant Secretary None
51 Madison Avenue
New York 10010
Lorito, GeraldineAssistant Vice President Assistant Treasurer
300 Interpace Parkway
Parsippany, NJ 07054
Gomez, Mark A. Assistant Secretary None
51 Madison Avenue
New York, NY 10010
</TABLE>
c. Inapplicable.
ITEM 28. Location Of Accounts And Records.
Certain accounts, books and other documents required to be maintained by
Section 31(a) of the Investment Company Act of 1940 and the Rules promulgated
thereunder are maintained at the offices of the Registrant, and New York Life
Insurance Company, 51 Madison Avenue, New York, NY 10010, at the offices of
MainStay Management, Inc. and NYLIFE Distributors Inc., 300 Interpace Parkway,
Parsippany NJ 07054, at the offices of Monitor Capital Advisors, Inc., 504
Carnegie Center, Princeton, NJ 08540-6242, and at the offices of MacKay-Shields
Financial Corporation, 9 West 57th Street, New York, NY 10019. Records relating
to the duties of the custodian for the Funds are maintained by The Bank of New
York, 90 Washington Street, New York, NY 10286. Records relating to the duties
of the Registrant's transfer agent are maintained by Boston Financial Data
Services, 2 Heritage Drive, North Quincy, MA 02171.
ITEM 29. Management Services.
Inapplicable.
ITEM 30. Undertakings.
The Registrant hereby undertakes to furnish each person to whom a
prospectus is delivered a copy of the Registrant's latest annual report to
shareholders upon request and without charge.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940, the Registrant has duly caused this
Post-Effective Amendment No. 22 to the Registration Statement to be signed on
its behalf by the undersigned, thereunto duly authorized, in the City of New
York in the State of New York, on the 28th day of December, 1999.
MAINSTAY INSTITUTIONAL FUNDS INC.
By: Linda M. Livornese
---------------------------
Linda M. Livornese*
President
Pursuant to the requirements of the Securities Act of 1933, this
Post-Effective Amendment No. 22 to the Registrant's Registration Statement has
been signed below by the following persons in the capacities and on the dates
indicated.
Signature Title Date
- --------- ----- ----
Stephen C. Roussin
- -------------------------- Chairperson and Director December 28, 1999
Stephen C. Roussin**
Patrick G. Boyle
- -------------------------- Director December 28, 1999
Patrick G. Boyle*
Lawrence Glacken
- -------------------------- Director December 28, 1999
Lawrence Glacken*
Robert P. Mulhearn
- -------------------------- Director December 28, 1999
Robert P. Mulhearn*
Susan B. Kerley
- -------------------------- Director December 28, 1999
Susan B. Kerley*
Linda M. Livornese
- -------------------------- President (Principal December 28, 1999
Linda M. Livornese* Executive Officer
/s/ John Flanagan Treasurer (Principal December 28, 1999
- -------------------------
John Flanagan Financial and Accounting
Officer)
<PAGE>
*By: /s/Joseph R. Fleming
-------------------------- December 28, 1999
Joseph R. Fleming
as Attorney-in-Fact ***
**By: /s/ Robert W. Helm
-------------------------- December 28, 1999
Robert W. Helm
as Attorney-in-Fact ***
*** Powers of Attorney filed with the initial Registration Statement No.
33-36962 on September 21, 1990, with Pre-Effective Amendment No. 2 to the
Registration Statement on December 26, 1990, with Post-Effective Amendment
No. 7 to the Registration Statement on October 14, 1994, and with
Post-Effective Amendment No. 18 to the Registration Statement on April 30,
1998, incorporated by reference within.
