TORONTO, Oct. 2, 2015 /CNW/ - TD Asset Management Inc. (TDAM), the manager of TD Private Funds, today announced proposed changes to certain TD Private Funds.
Fund Mergers
To reduce duplication of mutual fund offerings that have similar investment objectives across TDAM's product lineup, the following TD Private Funds and TD Mutual Funds will be merging:
|
Discontinuing TD Private Funds |
Continuing TD Mutual Funds |
|
TD Private Canadian Bond Income Fund |
TD Short Term Bond Fund |
|
TD Private Canadian Bond Return Fund |
TD Canadian Bond Fund |
|
TD Private Canadian Equity Plus Fund |
TD Canadian Equity Fund |
|
TD Private U.S. Mid-Cap Equity Fund |
TD U.S. Mid-Cap Growth Fund |
|
TD Private International Equity Fund |
Epoch International Equity Fund |
|
TD Private Target Return Fund |
TD Target Return Conservative Fund |
|
TD Private Target Return Plus Fund |
TD Target Return Balanced Fund |
Effective February 12, 2016, unitholders of each discontinuing TD Private Fund will receive the Private or Private-EM Series units of the corresponding continuing TD Mutual Fund on a dollar-for-dollar and tax-deferred basis. Each discontinuing TD Private Fund will be wound up following the mergers.
The Independent Review Committee of the discontinuing TD Private Funds has approved the proposed mergers described above after determining that the proposed mergers would achieve a fair and reasonable result for each discontinuing TD Private Fund.
Unitholders of the discontinuing TD Private Funds will be sent a written notice related to the proposed mergers at least 60 days prior to the effective date.
Investors in the discontinuing TD Private Funds may redeem or switch their units up to the close of business on February 11, 2016.
Fund Termination
On or about February 5, 2016, TDAM plans to terminate the operations of TD Private Canadian Strategic Opportunities Fund in order to streamline the TD Private Funds offering.
Unitholders of the TD Private Canadian Strategic Opportunities Fund will be contacted and provided with notice of the termination.
Unitholders of the TD Private Canadian Strategic Opportunities Fund may redeem or switch their holdings for settlement on or prior to the termination date.
Lower Management Fees on Select TD Private Funds
Effective February 1, 2016, TDAM has chosen to cease charging a management fee for three TD Private Funds while the maximum management fee disclosed in the TD Private Funds' prospectus remains unchanged. TDAM has chosen to cease charging a management fee on the following TD Private Funds:
|
Fund Name |
Maximum |
Previous Fee |
|
TD Private International Stock Fund |
0.35 |
0.35 |
|
TD Private US Blue Chip Equity Currency Neutral Fund |
0.20 |
0.20 |
1Estimated Management Fee charged prior to October 1, 2015.
About TD Asset Management Inc.
TD Asset Management Inc. ("TDAM"), a member of TD Bank Group, is one of Canada's largest asset managers. TDAM offers a diverse range of over 120 investment solutions including mutual funds, professionally managed portfolios and corporate class funds. TDAM manages retail mutual fund assets on behalf of more than 1.9 million investors and offers 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 Direct Investing, TD Wealth Financial Planning and TD Wealth Private Investment Advice, as well as leading investment dealers, independent brokers, advisors and financial planners. As of July 31, 2015, TDAM was the fourth largest mutual fund company in Canada, with over CDN$106 billion invested in its mutual funds (Source: IFIC).
SOURCE TD Asset Management Inc.
