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TD Asset Management Inc. Announces Results of Unitholder Meeting for Certain Fund Mergers
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:
February 3, 2020
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.
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