TORONTO, Sept. 2 /CNW/ - TD Asset Management Inc. (TDAM) today reported long-term fund net sales totaling $353 million for the month, and money market fund net redemptions of $250 million. Assets invested in TD Mutual Funds totaled $52.3 billion as of the end of August.
TD Mutual Funds experienced one of its strongest Augusts on record for long-term fund net sales. Gross sales of long-term funds continued their upward momentum, with an increase of 47% from last year, while gross redemptions of long-term funds continued their decline, down 14% from last year. As in recent months, investors have shown confidence in the TD Mutual Funds line-up, particularly its fixed-income products.
TD Mutual Funds' highest selling long-term funds for the month include TD Short Term Bond Fund, TD Canadian Bond Fund, TD Income Advantage Portfolio, and TD Dividend Growth Fund.
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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 August 31, 2009, TDAM was the fourth largest mutual fund company in Canada, with $52.3 billion invested in TD Mutual Funds.
For further information: Maria Leung, TD Bank Financial Group, (416)
983-4093, maria.leung@td.com