TORONTO, Oct. 8, 2019 /CNW/ - TD Asset Management Inc.
("TDAM"), the manager of the TD Mutual Funds and TD Managed Assets
Program portfolios, today announced that with respect to the
proposed mergers of TD Advantage Balanced Income Portfolio into TD
Managed Income Portfolio and TD Advantage Balanced Portfolio into
TD Managed Income & Moderate Growth Portfolio, quorum was not
achieved to permit the special meetings of unitholders to be
conducted and accordingly, the proposed mergers will not
proceed.
For that reason, TDAM has decided to cap TD Advantage
Balanced Income Portfolio and TD Advantage Balanced Portfolio to
new purchases, including purchases made through Pre-Authorized
Purchase Plans, on or about January 1,
2020.
TD Asian Growth Fund
Further to the press release TDAM issued on September 30th, 2019, as a result of
the change to TD Asian Growth Fund's (the "Fund") fundamental
investment objectives, Martin Currie Inc. will be removed as the
Fund's sub-adviser and TDAM, as the Fund's portfolio adviser, will
assume full portfolio management responsibility of the Fund,
effective on or about February 3,
2020.
The Independent Review Committee of the Fund has reviewed the
potential conflict of interest matter related to the change to the
Fund's portfolio management and has provided TDAM with a positive
recommendation after determining that this change, if implemented,
would achieve a fair and reasonable result for the Fund.
As a result of this change, TDAM will be reducing the Fund's
management fees as shown in the table below:
|
|
|
|
|
Series
|
Current
Management
Fee
|
New
Management
Fee
|
Approximate
Effective Date of
Change
|
|
Investor
Series
|
2.25%
|
2.15%
|
February 3,
2020
|
|
Advisor
Series
|
2.25%
|
2.15%
|
|
|
Institutional
Series
|
1.20%
|
1.10%
|
|
|
F-Series
|
1.25%
|
1.15%
|
|
|
D-Series
|
1.50%
|
1.40%
|
|
TD Asset Management Inc.
TD Asset Management (TDAM), a
member of TD Bank Group, is a North American investment management
firm. Operating through TD Asset Management Inc. in Canada and TDAM USA Inc. in the U.S., TDAM brings new thinking
to investors' most important challenges. TDAM offers investment
solutions to corporations, pension funds, endowments, foundations
and individual investors. Additionally, TDAM manages assets on
behalf of almost 2 million retail investors and offers a broadly
diversified suite of investment solutions including mutual funds,
exchange-traded funds, professionally managed portfolios and
corporate class funds. Asset management businesses at TD manage
$391 billion in assets as at
June 30, 2019. Assets under
management include TD Asset Management Inc., TDAM USA Inc., Epoch Investment Partners Inc.
(Epoch) and TD Greystone Asset Management.
Commissions, trailing commissions, management fees and expenses
all may be associated with mutual fund investments. Please read the
fund facts and prospectus, which contain detailed investment
information, before investing. Mutual funds are not guaranteed or
insured, their values change frequently and past performance may
not be repeated. Mutual fund strategies and current holdings are
subject to change.
TD Mutual Funds and the TD Managed Assets Program portfolios are
managed by TD Asset Management Inc., a wholly-owned subsidiary of
The Toronto-Dominion Bank and are available through authorized
dealers.
SOURCE TD Asset Management Inc.