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

N-14

0000787441 MAINSTAY FUNDS 333-145347 0000787441 MAINSTAY FUNDS S000018791 MainStay Principal Preservation Fund C000051987 Class I 0000919556 MCMORGAN FUNDS S000005299 McMorgan Principal Preservation Fund C000014475 McMorgan Class