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TD Mutual Funds reports March sales and assets
TORONTO, April 2 /CNW/ - TD Asset Management Inc. (TDAM) today reported net assets invested in TD Mutual Funds of $46.2 billion as of the end of March. Long-term fund net redemptions totaled $25 million for the month, and money market fund net redemptions totaled $143 million. "We saw a recovery in our assets under management in March as markets rebounded," said Tim Pinnington, President, TD Mutual Funds. "However, investors continued to remain cautious and did not return in large numbers to long-term funds." Openings of the TD Mutual Funds Tax-Free Savings Account (TFSA), available through TD Canada Trust branches(1), continued to be strong. "Our customers have embraced the TD Mutual Funds TFSA, which offers a full suite of TD Mutual Funds with a history of strong long-term performance," added Pinnington. TD Mutual Funds' highest selling long-term funds for the month were the TD Short Term Bond Fund, TD Comfort Balanced Portfolio, TD Comfort Growth Portfolio, TD Dividend Growth Fund and the TD Corporate Bond Capital Yield Fund. About TD Asset Management Inc. ------------------------------ Under the TD Mutual Funds name, TDAM provides a diverse range of over 60 mutual funds and 20 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 February 28, 2009, TDAM was the third largest mutual fund company in Canada. ----------------------- (1) Mutual fund representatives with TD Investment Services Inc. distribute mutual funds at TD Canada Trust branches.
For further information: Maria Leung, TD Bank Financial Group, (416) 983-4093, firstname.lastname@example.org
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