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MainStay Acquires $750 Million in Epoch Mutual Funds

Acquisition caps off five years of expansion at MainStay

By Stacy Schultz
July 9, 2009
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MainStay Investments, the retail distribution branch of New York Life Investments, acquired four equity mutual funds from Epoch Investment Partners, a boutique asset management firm based in New York City.

The funds, which add $750 million in assets to the MainStay name, will be reorganized as MainStay Epoch mutual funds. Three of the acquired funds have four-star ratings from Morningstar: Epoch Global Equity Shareholder Yield, Epoch International Small Cap and Epoch US All Cap Equity. MainStay will also become the primary distributor of separately managed accounts managed by Epoch.

The acquisition completes five years off growth and strategic expansion by MainStay that included a new distribution strategy and allowing Epoch to assume management of several MainStay mutual funds.

MainStay also recently appointed Robert DiMella and John Loffredo to manage the MainStay Tax Free Bond Fund. DiMella and Loffredo had served as co-heads of BlackRock’s municipal portfolio management group, with assets exceeding $100 billion, for more than 15 years before leaving in 2007 to found Mariner Municipal Managers.

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