TORONTO, Nov. 2 /CNW/ - TD Asset Management Inc. (TDAM), the manager of TD Mutual Funds, reported total net sales of $302 million for October, long-term fund net sales of $367 million and money market fund net redemptions of $65 million. Assets invested in TD Mutual Funds reached $59 billion as of the end of the month, an increase of 1.7% from September 30, 2010.
"October was a very solid month for us, with total net sales up 91% over last year," said Thomas Dyck, President of TD Mutual Funds. "Our fixed income funds were our strongest selling for the month, however we continue to see investors gradually moving back into equities primarily through diversified, balanced products."
TD Mutual Funds' top selling funds for October include the TD Income Advantage Portfolio, TD Canadian Bond Fund, TD Comfort Balanced Income Portfolio, TD Comfort Balanced Portfolio and TD Short Term Bond Fund.
About TD Mutual Funds
Under the TD Mutual Funds name, TDAM provides a diverse range of over 70 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 October 31, 2010, TDAM was the fourth largest mutual fund company in Canada, with $59 billion invested in TD Mutual Funds.