TD Mutual Funds reports strongest September on record for net sales of long-term funds
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TORONTO, Oct. 5 /CNW/ - TD Asset Management Inc. (TDAM), the manager of TD Mutual Funds, today reported long-term fund net sales totaling $564 million for the month, and money market fund net redemptions of $393 million. Assets invested in TD Mutual Funds continued their upward trend and totaled $53.6 billion as of the end of September.
"Net sales of our long-term funds for the month surpassed previous Septembers on record, and vaulted TD Mutual Funds to number one for long-term fund net sales in Canada," said Tom Dyck, President, TD Mutual Funds. "This is especially notable since September is traditionally one of the more challenging months in our industry."
"We're seeing a continuation of the momentum that began in May, with investors and advisors continuing to demonstrate confidence in our long-term funds, such as our top-selling TD Short Term Bond Fund," continued Dyck. "This is a testament to the quality of our investment management, and the value of our funds."
TD Mutual Funds' highest selling long-term funds for the month include the TD Short Term Bond Fund, TD Mortgage Fund, TD Canadian Bond Fund and TD Income Advantage Portfolio.
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Under the TD Mutual Funds name, TDAM provides a diverse range of over 60 mutual funds and 25 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 September 30, 2009, TDAM was the fourth largest mutual fund company in Canada, with $53.6 billion invested in TD Mutual Funds.
For further information: Maria Leung, TD Bank Financial Group, (416) 983-4093, maria.leung@td.com