TD Lancaster offers high quality, actively managed Short Term Cash Funds for both taxable and non-taxable assets. These Funds represent an attractive investment alternative for cash balances held by corporate, union, municipal, pension, trust, and endowment funds. They are designed for accounts whose investments will average at least $1 million. The Funds are part of a Cash Investment Service offered by Lancaster and The Toronto-Dominion Bank. Please see a full listing of TD Lancaster Cash Funds in our Products section.

TD Lancaster provides a wire transfer function to meet client cash flow requirements, providing the ability to transfer funds out of participant accounts and to direct the proceeds, by wire transfer, to any financial institution in North America same day, and to foreign financial institutions with a varying time lag. The clients to TD Lancaster’s Administration team forwards full wiring instructions. These wire transfers are facilitated by TD Business Windows software and are transmitted to TD Bank’s wire department for execution after they have been reviewed and authorized by two TD Lancaster team members. TD Lancaster’s Administrative Team keeps records of approved signing authorities for each client. Requests must be accompanied by the appropriate signature(s).

From time to time, clients wish to pledge assets held in the Lancaster Short Term Cash Funds to secure credit. The client must forward a notice to TD Lancaster advising of this request. TD Lancaster has a standard Assignment letter drafted by our TD Legal Team that must be copied onto client letterhead and sent to both our attention and to their financial services representative. TD Lancaster sets up a segregated collateral participant account:

In the case that the client only holds assigned assets, one account is held by the participant and its assets are not eligible for withdrawal by the client without written revocation by the financial institution.

In the case that the client holds other assets, a separate account is set up for the participant and the earnings less fees are transferred to the non-assigned related account after fee processing, quarterly, one month in arrears. The collateral account assets are not eligible for withdrawal by the client without written revocation by the financial institution.

Collateral accounts cannot have money withdrawn from them by the client unless there has been a revocation of the pledge via a letter from an authorized representative of the relevant financial institution.

Any receipt of a request to remove money from a collateral account must be immediately referred first to the primary client service contact at TD Lancaster in order that the client may be kept informed. The Assignment documentation is not the creation of the security notice, but is rather a notice of this assignment to TD Lancaster and an authorization to TD Lancaster to act per the Bank’s instructions.

Sample Assignment Document

TD Lancaster Investment Counsel ("TD Lancaster") is a division of TD Asset Management Inc.