Newton Capital Management, Newton’s business in Canada and the US, has been awarded a global equity mandate for TD Asset Management, the manager of TD Mutual Funds.
Newton Capital Management, Newton’s business in Canada and the US, has been awarded a global equity mandate for TD Asset Management, the manager of TD Mutual Funds.
Under the TD Mutual Funds name, TD Asset Management provides a diverse range of over 60 mutual funds and 20 professionally managed portfolios. It manages retail mutual fund assets on behalf of more than 1.4 million investors, and TD Mutual Funds is one of the most broadly diversified fund families in Canada.
Newton Capital Management will become portfolio adviser to the TD Global Select Fund. The mandate is the largest sub-advisory assignment for Newton in Canada.
Newton has been managing global mandates for 30 years and applies a single portfolio approach to running global equity portfolios. The mandate will be managed by members of the global equity team at Newton.
Over 75 per cent of Newton’s mandates are globally invested with over USD20bn in global equity mandates.
Helena Morrissey (pictured), chief executive officer of Newton, says: "The appointment by TD Asset Management validates the appeal of Newton’s global thematic approach to investing and underscores our success in accessing the Canadian marketplace. It expands our Canadian client base to include one of the most broadly diversified fund families in Canada.
"Our 30 year track record of global investing and critical mass in terms of our existing client base is a strong attraction for Canadian investors. Our business in North America has grown from around USD500m in 2006 to over USD2.5bn today, and we are delighted to be continuing to build this solid footprint."
Newton’s appointment by Canadian TD Asset Management follows its recent win of a new global equity mandate for Colorado Public Employees’ Retirement Association, the public pension fund for more than 400 government agencies and public entities in the State of Colorado. The mandate was the first state pension fund appointment for Newton since it launched its US business in 2006.
