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TD Mutual Funds reports December Net Sales
TORONTO, Jan. 6 /CNW/ - TD Asset Management Inc. (TDAM) today reported money market fund net sales of $118 million, and estimated long-term fund net redemptions of $156 million. Total net assets invested in TD Mutual Funds totaled $46.8 billion as of the end of December. "Our assets under management increased slightly in the month ending December 31, 2008 as market volatility decreased from the levels experienced over the past three months," said Tim Pinnington, President TD Mutual Funds. "Further, gross sales improved by 16% and gross redemptions decreased by 5% from November, which is an encouraging sign that investor confidence is increasing." Net sales of the new TD Comfort Portfolios, launched on December 8, 2008 total $17 million. The Portfolios, which are sold through TD Canada Trust branches(1), are an all-in-one solution that offer investors diversification, value, and access to TD Mutual Funds' top quality funds. "Given the unprecedented market volatility of 2008, the strong net sales of our newest investment offering speaks to the quality of our funds, and the high calibre of our fund managers," concluded Pinnington. 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 December 31, 2008, TDAM was the fourth largest mutual fund company in Canada, with $46.8 billion invested in TD Mutual Funds. -------------------------------- (1) Mutual funds 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, email@example.com
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