July 10, 2009
MainStay Adopts Epoch Investment Partners’ $750 Million Family of Mutual Funds
Dear Valued Partner,
We are pleased to inform you that MainStay Investments announced yesterday the adoption of four equity mutual funds managed by Epoch Investment Partners, Inc. (“Epoch”) to the MainStay Group of Funds. Pending shareholder approval, these funds with over $750 million in assets will be reorganized as “MainStay Epoch” mutual funds in November 2009. 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).
Founded in 2004 and led by CEO and co-CIO, William W. Priest, Epoch is a global, boutique asset management firm located in New York City. Their equity strategies are created in a manner consistent with the firm’s investment philosophy – to seek businesses that produce significant "free cash flow" and are run by management teams that intelligently use their free cash flow to create shareholder value.
“We’re delighted to be adding the Epoch Funds to the MainStay family. Epoch’s investment offerings are complementary to MainStay’s strong Large Cap Equity and Fixed Income product line-up. In both investment style and product scope, MainStay is adding greater depth and breadth to its family of mutual funds,” said Stephen Fisher, president of the MainStay Funds.
Thank you for your continued support.