TORONTO, April 8, 2016 /CNW/ - TD Asset Management Inc. (TDAM), the manager of TD Mutual Funds and TD Managed Assets Program Portfolios, today announced the receipt of the required approvals from securityholders to proceed with the previously announced mutual fund mergers of the below listed discontinuing funds into the corresponding continuing funds and the termination of TD Canadian T-Bill Fund.

Each of the proposed mergers below received the approval of the securityholders of the applicable discontinuing funds and the Canadian securities regulators. The merger of TD Energy Fund into TD Resource Fund also received the approval of the securityholders of TD Resource Fund. 

TDAM expects to effect each merger on or about April 15, 2016. As a result of the mergers, securityholders of each series of each discontinuing fund set out above will receive securities of the same series of the corresponding continuing fund on a dollar-for-dollar basis. Each merger will be effected on a tax-deferred basis. Each of the discontinuing funds will be wound up following the mergers.

TDAM expects to effect the termination of TD Canadian T-Bill Fund on or about April 15, 2016.

TDAM has postponed indefinitely the securityholder meetings of each of TD Precious Metals Fund and TD Resource Fund in connection with the proposed merger of TD Precious Metals Fund into TD Resource Fund and as such, the merger will not proceed as proposed.  TD Precious Metals Fund will continue to be available for purchase by investors.

TD Asset Management Inc.
TD Asset Management Inc. ("TDAM"), a member of TD Bank Group, is one of Canada's largest asset managers. TDAM offers a diverse range of over 120 investment solutions including mutual funds, professionally managed portfolios and corporate class funds. TDAM manages retail mutual fund assets on behalf of more than 1.9 million investors and offers 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 Direct Investing, TD Wealth Financial Planning and TD Wealth Private Investment Advice, as well as leading investment dealers, independent brokers, advisors and financial planners. As of December 31, 2015, TDAM was the fourth largest mutual fund company in Canada, with over CDN$103 billion invested in its mutual funds (Source: IFIC).

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. 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.