TORONTO, July 25, 2016 /CNW/ - TD Asset Management Inc. ("TDAM") today announced TDAM USA Inc. will be removed as a sub-adviser of TD U.S. Monthly Income Fund, effective on or about August 4, 2016.

TDAM will continue to oversee, with full discretion, the investment decisions and asset allocation of TD U.S. Monthly Income Fund. TD U.S. Monthly Income Fund may gain exposure to U.S. fixed income securities through investing in TD U.S. Corporate Bond Fund, which is sub-advised by TDAM USA Inc. In addition, TD U.S. Monthly Income Fund has, and will maintain, the flexibility to also gain exposure to U.S. fixed income securities either directly or indirectly through investment trusts and exchange-traded funds when it is deemed more efficient to do so.

TDAM also announced a lowering of risk rating for TD Canadian Core Plus Bond Fund from "low to medium" to "low". The low risk rating is consistent with TD Canadian Core Plus Bond Fund's demonstrated volatility since inception and better represents the expected volatility going forward.  No material changes have been made to the investment objectives, strategies or management of TD Canadian Core Plus Bond Fund.

The above changes will be reflected in the renewal of the TD Mutual Funds' simplified prospectus and fund facts, which are scheduled to be filed on or about July 28, 2016. For more information, visit tdassetmanagement.com.

About 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 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, professionally managed portfolios and corporate class funds. Collectively, TDAM manages over C$300 billion in assets as at June 30, 2016.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus, which contains detailed investment information, before investing. Mutual funds are not guaranteed or insured, their values change frequently and past performance may not be repeated.

SOURCE TD Asset Management Inc.