TD Bank Group Newsroom
TD Asset Management Inc. Announces Portfolio Adviser and Fund Name Changes
TORONTO, July 23 /CNW/ - TD Asset Management Inc. (TDAM), the manager of TD Mutual Funds, today announced a portfolio adviser change for one of its funds. Effective on or about August 1, 2007, AllianceBernstein Canada, Inc., a wholly-owned subsidiary of U.S.-based global asset management firm AllianceBernstein L.P. ("AB"), will become a portfolio adviser for the TD International Equity Fund. AB was formed as a result of Alliance Capital's acquisition of Sanford C. Bernstein & Co. in 2000. AB currently manages in excess of US $740 billion worldwide. Within AB, value mandates are managed by Bernstein Value Equities ("Bernstein"), which originated in 1967, and has been selected for their long and successful history of value investing in international equity markets. Bernstein employs an investment strategy that seeks companies that are viewed to be mispriced relative to their long-term earnings prospects. Companies are assessed both from a global industry perspective and from a country-based standpoint. AB has offices in 47 cities and 24 countries. TDAM expects the appointment of AllianceBernstein Canada will enable a smooth transfer of responsibilities, and continuity of investment management for the fund. TDAM is also announcing a name change for its TD Monthly High Income Fund. Effective July 23, 2007, the TD Monthly High Income Fund will be renamed the TD Diversified Monthly Income Fund. The new name better reflects the benefit of the fund's diversified asset allocation. About TD Asset Management Inc. Under the TD Mutual Funds name, TDAM provides a diverse range of over 65 mutual funds and 15 professionally managed portfolios. TDAM 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. Funds are available at TD Canada Trust branches (through TD Investment Services Inc. representatives), TD Waterhouse Discount Brokerage, Financial Planning and Private Investment Advice, as well as leading investment dealers, independent brokers, advisors and financial planners. As of June 30, 2007, TDAM was the fourth largest mutual fund company in Canada, with over $55 billion invested in TD Mutual Funds.
For further information: Lisa Hodgins, (416) 983-2982, email@example.com
Get News Alerts by Email
Receive breaking news from TD Bank Group directly to your inbox.