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
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
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 $0.21726 per unit.
In addition to the distribution occurring November 30, 2020, the final annual 2020 notional
non-cash reinvested distribution per unit has been revised as
Distribution per unit (C$)
Conservative ETF Portfolio
For more information regarding the TD ETF, visit
Commissions, management fees and expenses all may be associated
with investments in exchange-traded funds (ETFs). Please read the
prospectus and ETF Facts before investing. ETFs are not guaranteed,
their values change frequently and past performance may not be
repeated. ETF units are bought and sold at market price on a stock
exchange and brokerage commissions will reduce returns.
TD ETFs are managed by TD Asset Management Inc., a wholly-owned
subsidiary of The Toronto-Dominion Bank.
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Toronto-Dominion Bank or its subsidiaries.
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.