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TORONTO, April 2, 2012 /CNW/ - TD Asset Management Inc. (TDAM) has received regulatory approval to change the investment objectives of the TD Private Canadian Bond Income Fund and the TD Private Canadian Diversified Yield Fund (the "Funds"). The revised investment objectives of the Funds are included in the annual renewal of the simplified prospectus and the respective fund facts for each Fund, dated March 27, 2012.

The new fundamental investment objective of the TD Private Canadian Bond Income Fund is to seek to generate income, with a view to preserving capital as a secondary objective. The Fund may invest directly in, or provide exposure to, primarily debt obligations issued or guaranteed by the Canadian federal or provincial governments or any agencies of such governments and debt obligations of corporations, including debt obligations of Schedule I Canadian chartered banks or loan or trust companies.

The new fundamental investment objective of the TD Private Canadian Diversified Yield Fund is to seek to provide a high level of after-tax income, with a view to achieving capital appreciation as a secondary objective. The Fund may invest directly in, or provide exposure to, investments including, but not limited to, dividend-paying common shares of Canadian corporations, high-quality preferred share issues of Canadian financial institutions, utilities, and other corporations and Canadian dollar denominated bonds.

The changes in the Funds' investment objectives are to clarify that each Fund's primary objective is to generate income.

About TD Asset Management

TD Asset Management Inc. (TDAM) is a fully integrated North American investment manager, with over C$190 billion in assets under management as of January 31, 2012. TDAM operates as TD Asset Management Inc. in Canada and TDAM USA Inc. in the U.S. TDAM offers investment solutions to corporations, pension funds, endowments, foundations and high net worth individuals. A cornerstone of the success of TDAM's investment strategies has been the firm's disciplined and risk-controlled approach to investment, along with its ability to innovate progressive solutions that meet clients' changing needs and objectives.

Under TD Private Funds, TDAM manages approximately $7.0 billion (CDN) in assets. TD Waterhouse Private Investment Counsel Inc. is one of Canada's largest private client money management firms. TD Waterhouse Private Investment Counsel's extensive network of professional portfolio managers provide discretionary investment management services to high net worth individuals and their families, small and mid-size corporations, charitable organizations and foundations, and executors and trustees from coast to coast.

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