X0101 EFFECT 33 LIVE 2007-09-12 13:00:00

N-14

0000787441 MAINSTAY FUNDS 333-145345 0000787441 MAINSTAY FUNDS S000006903 MainStay Common Stock Fund C000018719 Class A 0000919556 MCMORGAN FUNDS S000005311 McMorgan Equity Investment Fund C000014501 McMorgan Class 0000787441 MAINSTAY FUNDS S000006903 MainStay Common Stock Fund C000018719 Class A 0000919556 MCMORGAN FUNDS S000005311 McMorgan Equity Investment Fund C000014502 Class Z 0000787441 MAINSTAY FUNDS S000006903 MainStay Common Stock Fund C000018720 Class B 0000919556 MCMORGAN FUNDS S000005311 McMorgan Equity Investment Fund C000014501 McMorgan Class 0000787441 MAINSTAY FUNDS S000006903 MainStay Common Stock Fund C000018720 Class B 0000919556 MCMORGAN FUNDS S000005311 McMorgan Equity Investment Fund C000014502 Class Z 0000787441 MAINSTAY FUNDS S000006903 MainStay Common Stock Fund C000018721 Class C 0000919556 MCMORGAN FUNDS S000005311 McMorgan Equity Investment Fund C000014501 McMorgan Class 0000787441 MAINSTAY FUNDS S000006903 MainStay Common Stock Fund C000018721 Class C 0000919556 MCMORGAN FUNDS S000005311 McMorgan Equity Investment Fund C000014502 Class Z 0000787441 MAINSTAY FUNDS S000006903 MainStay Common Stock Fund C000018722 Class I 0000919556 MCMORGAN FUNDS S000005311 McMorgan Equity Investment Fund