TORONTO, July 28, 2014 /CNW/ - TD Asset Management Inc. ("TDAM"), the
manager of TD Pools, today announced plans to terminate the operations
of the TD Global High Yield Pool and the TD Global High Yield Pool
Trust (the "Pools"), on or about October 3, 2014.
The decision to terminate the Pools was made as a result of measures
announced in the federal budget in March 2013 regarding the elimination
of tax benefits for investment funds that use forward contracts to
convert income to capital gains for tax purposes. The budget describes
this structure as "character conversion transactions". The Pools are
part of the character conversion transactions employed by the TD Global
High Yield Capital Class and were not available for investment by
individual investors. As part of the recently announced termination of
the TD Global High Yield Capital Class on or about October 3, 2014, the
Pools will also be closed.
The TD Global High Yield Pool Trust has only been available for purchase
by the TD Global High Yield Capital Class and has been closed to
additional investments since April 12, 2013.
About TD Asset Management Inc.
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 June 30, 2014, TDAM was
the fourth largest mutual fund company in Canada, with over CDN$90
billion invested in TD Mutual Funds (Source: IFIC).
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SOURCE: TD Asset Management Inc.
For further information:
TD Bank Group