TORONTO, May 29 /CNW/ - TD Asset Management Inc. (TDAM) today announced
plans to terminate three mutual funds (the Funds). Effective May 29, 2009, the
Funds will cease offering units for purchase and will be terminated on or
about July 31, 2009.
The decision to terminate the Funds is due to reduced investment
opportunities and decreased client demand resulting from changes to the
tax-treatment of income trust securities. The Funds that will be terminated
are:
TD Income Trust Capital Yield Fund
TD Private Income Trust Fund
TD Income Trust Pool
Unitholders may redeem or switch their holdings in the Funds for
settlement on or prior to the termination date. TDAM will sell each Fund's
holdings at fair market value, determine distributions and on or about July
31, 2009 distribute the net assets to remaining unitholders.
No fees or charges will be applied to unitholders upon redemption of
their units or the termination of the Funds.
Unitholders of the Funds will be contacted and provided with information
outlining details of the termination. Unitholders are encouraged to speak with
their financial advisors or portfolio managers to discuss their investment
options.
About TD Asset Management
TD Asset Management Inc. is one of Canada's largest investment management
firms, with leading market positions in active, enhanced and indexed portfolio
management. It is a fully integrated investment management business that
offers its clients a wide range of investment options, including mutual funds,
pooled investment funds and segregated investment accounts. As of March 31,
2009, TD Asset Management Inc. and its affiliates had over C$172.6 billion in
assets under management for pension, insurance, endowment/foundation and
corporate clients, as well as for high-net worth clients and retail mutual
funds.
For further information: For media inquiries, please contact: Barbara
Timmins, TD Wealth Management, (416) 307-6498