TD Asset Management Inc. to Terminate the Operations of Three Mutual Funds.
Toronto, May 29th 2009 – TD Asset Management Inc. (TDAM) today announced plans to terminate three mutual funds (the Funds). Effective May 29, 2009, the Funds will cease offering units for purchase and will be terminated on or about July 31, 2009.
The decision to terminate the Funds is due to reduced investment opportunities and
decreased client demand resulting from changes to the tax-treatment of income trust
securities. The Funds that will be terminated are:
TD Income Trust Capital Yield Fund
TD Private Income Trust Fund
TD Income Trust Pool
Unitholders may redeem or switch their holdings in the Funds for settlement on or prior to the termination date. TDAM will sell each Fund’s holdings at fair market value, determine distributions and on or about July 31, 2009 distribute the net assets to remaining unitholders.
No fees or charges will be applied to unitholders upon redemption of their units or the termination of the Funds.
Unitholders of the Funds will be contacted and provided with information outlining
details of the termination. Unitholders are encouraged to speak with their financial
advisors or portfolio managers to discuss their investment options.
About TD Asset Management
TD Asset Management Inc. is one of Canada’s largest investment management firms,
with leading market positions in active, enhanced and indexed portfolio management. It is a fully integrated investment management business that offers its clients a wide range of investment options, including mutual funds, pooled investment funds and segregated investment accounts. As of March 31, 2009, TD Asset Management Inc. and its affiliates had over C$172.6 billion in assets under management for pension, insurance, endowment/foundation and corporate clients, as well as for high-net worth clients and retail mutual funds.
For media inquiries, please contact:
TD Bank Financial Group