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TD BANK GROUP

TD Mutual Funds reports July sales and assets

1 minute read
By TD Bank Group
• Aug 5, 2009
TORONTO, Aug. 5 /CNW/ - TD Asset Management Inc. (TDAM) today reported long-term fund net sales totaling $295 million for the month, and money market fund net redemptions of $167 million. Assets invested in TD Mutual Funds totaled $51.5 billion as of the end of July. "We experienced one of our strongest Julys on record for long term fund net sales as investors and advisors maintained their confidence in the value and management of our fund line-up," said Tim Pinnington, President TD Mutual Funds. "Gross redemptions also continued to decline, down 50 per cent from last year." TD Mutual Funds' highest selling long-term funds for the month include the TD Short Term Bond Fund, TD Dividend Growth Fund, TD Canadian Bond Fund and the TD Income Advantage Portfolio. "We saw strong results for many of our fixed-income products, such as the best-selling TD Short Term Bond Fund. Low interest rates for cash deposits and cash equivalents have made them an attractive option for investors," added 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 July 31, 2009, TDAM was the fourth largest mutual fund company in Canada, with $51.5 billion invested in TD Mutual Funds. For further information: Maria Leung, TD Bank Financial Group, (416) 983-4093, maria.leung@td.com

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