TD names Epoch as new fund advisor

The private funds group of TD Asset Management will transfer portfolio adviser responsibilities for the TD Private International Equity Fund to Epoch Investment Partners next month.

TD Asset Management has chosen New York-based Epoch Investment Partners to assume portfolio adviser resposibilities for the TD Private International Equity Fund, according to a statement.

TD Asset Management will transfer the adviser responsibilities to Epoch on 12 November. The switch comes following TD Bank's acquisition of Epoch in March. The transaction was expected to add about $25.9 billion in assets to TD Asset Management, according to a previous statement.

The change will not impact the investment objectives of the TD Private International Equity Fund, though its strategies will broaden to include Epoch’s philosophy of investing in companies that can generate free cash flow and effectively allocate capital, according to the statement. 

The Private International Equity Fund was created in 1996 and has been managed by TD Asset Management and the TD Private Funds Group. 

The fund’s value as of February was roughly $311 million and the management fee is about 0.5 percent. Charles Edwardes-Ker, vice president and director of TD Asset Management, has been the fund’s lead manager since 2009, according to TD Asset Management’s website.

TD Asset Management controls a total of C$215.2 billion ($209 billion, 151.6 billion) in assets as of 30 June, including about C$8 billion under TD Private Funds as of 31 August, according to the statement.

William Priest, David Pearl, Timothy Taussig and Phil Clark co-founded New York-based Epoch in 2004. All four executives remain involved with Epoch, though Clark transitioned to a senior advisory role in 2010. Previously, the executives worked at Steinberg Priest & Sloane Capital Management, according to Epoch’s website. Epoch had about $34.6 billion of assets under management as of 30 September.