TD Asset Management Inc. Announces Capping of TD Short Term Investment Class
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TORONTO, Aug. 1, 2023 /CNW/ - TD Asset Management Inc. ("TDAM"), the manager of TD Mutual Funds, announced today that TD Short Term Investment Class (the "Fund") will no longer accept additional purchases, including purchases made through Pre–Authorized Purchase Plans and Pre-Authorized Contribution Plans, effective immediately.
Changing market and regulatory environments have reduced the tax-efficiency benefits of corporate class structures in Canada. As a result, the Fund will no longer accept additional purchases as a means to protect existing unitholders and provide the maximum tax efficiency within the corporation.
Unitholders that currently hold units in any series of the Fund may continue to do so but cannot purchase any additional units.
Additional information about the Fund, including the Simplified Prospectus, can be found at www.tdassetmanagement.com. Investors interested in the Fund are encouraged to speak with their investment professional about other options that may be available.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus, which contains detailed investment information, before investing. Mutual funds are not guaranteed or insured, their values change frequently and past performance may not be repeated. Mutual fund strategies and current holdings are subject to change.
TD Mutual Funds are managed by TD Asset Management Inc., a wholly-owned subsidiary of The Toronto-Dominion Bank and are available through authorized dealers. TD Mutual Funds Corporate Class funds are issued by TD Mutual Funds Corporate Class Ltd.
® The TD logo and other TD trademarks are the property of The Toronto-Dominion Bank or its subsidiaries.
TD Asset Management Inc. ("TDAM"), a member of TD Bank Group, is a North American investment management firm. 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 $423 billion in assets. Aggregate statistics are as of June 30, 2023 for TDAM and Epoch Investment Partners, Inc. TDAM operates in Canada and Epoch Investment Partners, Inc. operates in the United States. Both entities are affiliates and are wholly-owned subsidiaries of The Toronto-Dominion Bank.
SOURCE TD Asset Management Inc.