TD Asset Management Inc. (TDAM), the manager of TD Mutual Funds, announced Friday that New York-based Epoch Investment Partners, Inc. will assume portfolio advisor responsibilities of TD Global Dividend Fund and TD European Growth Fund effective July 31.
Epoch’s appointment as portfolio adviser follows TD Bank Group’s acquisition of Epoch Holding Corp. on March 27. Epoch took over responsibilities for four other TD funds in April. (See Investment Executive, TDAM names new portfolio advisor for four funds, Apr. 10, 2013.)
TDAM says there will be no change to the funds’ investment objectives, however the funds’ investment strategies will change to include Epoch’s philosophy of investing in companies that have the ability to generate free cash flow and effectively allocate capital, which Epoch believes represents the best predictor of long-term shareholder return.
“Both mandates will benefit from Epoch’s considerable expertise and experience,” says Paul Orlander, president, TD Mutual Funds.
“The TD Global Dividend Fund will leverage Epoch’s Global Equity Shareholder Yield strategy, which is at the core of its product offerings, while the TD European Growth Fund will provide investors with enhanced exposure to companies in the European Union, a market which makes up 25 percent of the world’s economy.”
Founded in 2004, Epoch has 70 employees and their asset management team has an average of over 20 years of investment management experience. It manages US$29.2 billion assets under management for clients, predominately institutional, around the world.