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TORONTO, March 10, 2021 /CNW/ - TD Asset Management Inc. ("TDAM") today announced a notional non-cash reinvested distribution and a revision to the final annual 2020 notional non-cash reinvested distribution for the TD One-Click Conservative ETF Portfolio (the "TD ETF") previously reported on December 21, 2020. Cash distributions for December 2020 were reported separately.

A notional distribution is when the units from a reinvested distribution are immediately consolidated with the units held prior to the distribution and the number of units held after the distribution is identical to the number of units held before the distribution.

The actual taxable amounts of reinvested and cash distributions for 2020, including the tax characteristics of the distributions, have been reported to brokers via CDS Clearing and Depository.

Up until November 30, 2020, the TD ETF did not qualify as a mutual fund trust under the Income Tax Act (Canada) (the "Tax Act"). The TD ETF was considered a financial institution, as such term is defined under the Tax Act, for purposes of the "mark-to-market" rules contained in the Tax Act because more than 50% of the market value of the TD ETF was held by one or more financial institutions. It was determined that, as at November 30, 2020, the TD ETF no longer had more than 50% of its market value held by one or more financial institutions and was no longer considered a financial institution.

The Tax Act contains special rules for determining the income of financial institutions, including, but not limited to, the realization of all unrealized gains or losses on mark-to-market property held by the financial institution on income account at the end of any given tax year. In acknowledging this change of status, the TD ETF was required to recognize a deemed year-end for tax purposes and distribute any net income and net realized capital gains earned or realized by the TD ETF up until November 30, 2020.

On November 30, 2020, the TD ETF distributed $0.21726 per unit.

In addition to the distribution occurring November 30, 2020, the final annual 2020 notional non-cash reinvested distribution per unit has been revised as follows:

Fund Name


Previous Annual
Distribution per
unit (C$)

Revised Annual
Distribution per unit (C$)

TD One-Click Conservative ETF Portfolio




For more information regarding the TD ETF, visit

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About TD Asset Management Inc.
TD Asset Management (TDAM), a member of TD Bank Group, is a North American investment management firm. Operating through TD Asset Management Inc. in Canada and TDAM USA Inc. in the U.S., TDAM brings new thinking to investors' most important challenges. TDAM offers investment solutions to corporations, pension funds, endowments, foundations and individual investors. Additionally, TDAM manages assets on behalf of almost 2 million retail investors and offers a broadly diversified suite of investment solutions including mutual funds, professionally managed portfolios and corporate class funds. Asset management businesses at TD manage $407 billion in assets as at December 31, 2020. Assets under management include TD Asset Management Inc., TDAM USA Inc. and Epoch Investment Partners Inc. (Epoch). All entities are wholly-owned subsidiaries of The Toronto-Dominion Bank.

SOURCE TD Asset Management Inc.

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