TORONTO, Sept. 19, 2013 /CNW/ - TD Asset Management Inc. (TDAM), the manager of TD Mutual Funds, today announced plans to terminate the operations of nine mutual funds. Effective September 19, 2013, the funds will no longer accept additional investments and will be terminated on or about December 6, 2013. The funds are being terminated in order to simplify TDAM's lineup.
The funds that will be terminated include:
- TD Global Equity Portfolio
- TD Global Multi-Cap Fund
- TD Global Value Fund
- TD International Value Fund
- TD Pacific Rim Fund
- TD U.S. Large-Cap Value Currency Neutral Fund
- TD Global Sustainability Fund
- TD Global Sustainability Class
- TD Global Multi-Cap Class
Securityholders may redeem or switch their holdings in the funds for settlement on or prior to the termination date. TDAM will liquidate the holdings of the terminating funds at fair market value, determine distributions and on or about December 6, 2013 distribute the net assets to remaining securityholders.
Securityholders will not be required to pay any redemption fees, sales charges or other fees associated with the termination of the funds.Securityholders of the affected funds will be mailed information outlining details of the funds' termination. Securityholders are encouraged to speak with their financial advisor to discuss their investment options. About TD Asset Management Inc. Under the TD Mutual Funds name, TDAM provides a diverse range of 74 mutual funds, 28 professionally managed portfolios and 20 corporate class funds. TDAM manages retail mutual fund assets on behalf of more than 1.8 million investors and TD Mutual Funds is 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 August 31, 2013, TDAM was the fourth largest mutual fund company in Canada, with CDN$75.2 billion invested in TD Mutual Funds. SOURCE TD Asset Management Inc.
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