The last time we saw Margot Naudie, the top-performing mutual fund manager from TD Asset Management was gamely spray-painting her face gold for a Report on Business magazine shot.
The next time we see her will likely be in the CPP Investment Board annual report.
After averaging a 16.4 per cent annual gain for clients over the past five years on the $257-million TD Precious Metals Fund, Ms. Naudie announced on Wednesday that she is heading to the $124-billion national money manager.
Ms. Naudie, a Montreal native, will be a senior portfolio manager and head of the materials sector at CPP Investment Board, which makes her a senior executive in the fund's public market investments department.
While its asset mix is fluid, CPP Investment Board is the largest capital markets player in Canada and a significant global investor. At last count, the fund had $55.3-billion invested in public market equities. That will make Ms. Naudie one of the world's biggest players in mining stocks.
Ari Levy, the lead manager on TD's energy and resource funds and a co-manager on the precious metals fund, has taken over Ms. Naudie's duties.
Andrew Willis