TD Asset Management Inc. Announces Portfolio Adviser Change for the TD U.S. Blue Chip Equity Fund
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TORONTO, Aug. 10, 2023 /CNW/ - TD Asset Management Inc. ("TDAM"), the manager of TD Mutual Funds, today announced a portfolio adviser change for the TD U.S. Blue Chip Equity Fund (the "Fund"). Effective on or about November 1, 2023 (the "Effective Date"), Epoch Investment Partners, Inc. ("TD Epoch") will become the portfolio adviser of the Fund.
TDAM, through its affiliate, TD Epoch, will leverage its deep and extensive investment capabilities to bring the flagship U.S. Quality Capital Reinvestment Strategy to Canadian retail investors. The change reflects TDAM's commitment to ensuring the mutual fund lineup is well positioned for the evolving needs of investors and to face the opportunities and challenges in the markets with investment excellence.
"We are excited to leverage the full scale of our investment platform and a proven U.S. growth investment strategy to Canadian retail investors, said Bruce Cooper, Chief Executive Officer, TDAM and TD Epoch, Senior Vice President, TD Bank Group. "Since its founding in 2004, TD Epoch has consistently demonstrated the capability to build top-performing equity portfolios by investing in high-quality growth companies that have a high return on invested capital. Ultimately, we believe the best predictors of long-term shareholder return are growth in free cash flow and management's skill in allocating that cash."
There will be no changes to the investment objective of the Fund as a result of the portfolio adviser change. As of the Effective Date, the name of the Fund will change to TD U.S. Capital Reinvestment Fund and the investment strategies will be amended in order to better reflect the investment philosophy and approach of TD Epoch.
The Fund will be led by two long tenured portfolio managers with strong investment pedigree and will be supported by a focused group of experienced portfolio managers and analysts that draw on the research and insights of the entire firm. Lead portfolio managers will be David J. Siino, CFA, CAIA, Managing Director, Portfolio Manager and Senior Research Analyst, TD Epoch, and Steven D. Bleiberg, Managing Director, Portfolio Manager, TD Epoch. Siino and Bleiberg have been with the firm since 2007 and 2014, respectively, and have been building their investment capabilities with careers going back decades. Siino holds a BA from Hofstra University and an MBA from Baruch College, while Bleiberg holds an AB from Harvard and an MS from the Sloan School of Management at MIT with a concentration in Finance.
As of the Effective Date, TDAM will also reduce the management fees of the Fund. The management fee on the Private-EM series will be removed and all other series of the Fund will be reduced by 5 basis points.
With this change, TDAM will remove T. Rowe Price Associates, Inc. as sub-adviser for the Fund. "TDAM has a rich history of selecting external portfolio advisers and sub-advisers to provide specialized expertise for certain asset classes and sectors. We thank T. Rowe Price Associates Inc. for the stewardship they exhibited since the Fund's launch and look forward to our continuing and successful collaboration on other TD Mutual Funds," Cooper added.
In accordance with applicable securities law, an amendment to the Fund's Prospectus will be filed which describes the changes described herein, including the adjustments to the investment strategies of the Fund in connection with the portfolio adviser change.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the fund facts and prospectus, which contain 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 and the TD Managed Assets Program portfolios are managed by TD Asset Management Inc., a wholly-owned subsidiary of The Toronto-Dominion Bank and are available through authorized dealers.
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Epoch Investment Partners, Inc. ("TD Epoch") is a global investment management firm that provides U.S., Non-U.S., and global investment strategies to institutional and intermediary clients. Our investment process combines fundamental research with quantitative tools to help identify companies that can grow free cash flow and allocate it effectively for the benefit of shareholders. With an investment driven, collaborative culture, Epoch is designed to help our clients achieve their investment objectives. The company was founded in 2004 and acquired by the Toronto-Dominion Bank ("TD" or "TD Bank") in 2013.
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.