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Healthcare has been one of the most dynamic pockets of the market uniquely facing the challenges of pandemic and now Medicaid challenges with the passing of the OBBA, however hospitals have remained resilient evidenced by improving median metrics.

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www.newyorklifeinvestments.com

MacKay Municipal Managers is a team of portfolio managers at MacKay Shields. MacKay

Shields is 100% owned by NYLIM Holdings, which is wholly owned by New York Life Insurance

Company. “New York Life Investments” is both a service mark, and the common trade name, of

certain investment advisors affiliated with New York Life Insurance Company.

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