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
Management Fee (%)
|
Previous Fee
Charged1 (%)
|
|
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.