Mainstay Adopts Epoch Funds

Pending shareholder approval, the funds, with over $750 million in assets, will be reorganized as MainStay Epoch mutual funds in November, according to a press release. In addition, MainStay Investments will become the primary distributor of separately managed accounts (SMAs) managed by Epoch.

Three of the funds have four-star ratings from Morningstar: Epoch Global Equity Shareholder Yield (EPSYX), Epoch International Small Cap (EPIEX), and Epoch US All Cap Equity (EPACX), the release said.

Other enhancements made to the MainStay lineup include Epoch assuming management of several MainStay mutual funds as sub-adviser as well as the proposed consolidation of several other MainStay Funds to reduce overlap within the complex.

In addition, MainStay appointed industry veterans Robert DiMella and John Loffredo, who co-lead MacKay Shields’ recently acquired municipal bond team, to manage the MainStay Tax Free Bond Fund (MTBAX) (see “MaKay Shields Agrees to Acquire Princeton Municipal Bond Unit“).

DiMella and Loffredo founded Mariner Municipal Managers LLC in 2007 upon leaving BlackRock, where they served as co-heads of BlackRock’s Municipal Portfolio Management Group.