TD Asset Management Inc. to reduce management fees and simplify TD Mutual Funds lineup

TORONTO, Nov. 21, 2016 /CNW/ - TD Asset Management Inc. (TDAM), manager of TD Mutual Funds, announced today it will lower the maximum annual management fees on select series of 45 TD Mutual Funds, including its already competitively priced, fee-based series offering, on or about March 28, 2017.

"We continually look for ways to help advisors assist clients in reaching their investment goals," said Bruce Cooper, Chief Executive Officer, TD Asset Management. "Reducing our already competitive management fees is a great example of how we strive to do this."

TDAM will also simplify its high net worth (HNW) offering by making changes to the HNW series (Premium Series, Premium F‑Series, K‑Series and PS‑Series) of certain TD Mutual Funds by:

  • Terminating the series;
  • Closing the series to all purchases;  
  • Closing the series to purchases by new investors; or
  • Converting securityholders of a HNW series to another series which will have the exact same fees and features.

Effective end of business today, all terminating HNW series will be closed to purchases and will subsequently be terminated on or about March 28, 2017. All other changes to the HNW series will be implemented on or about March 28, 2017.

This simplified approach to pricing will make it easier to determine the appropriate series of TD Mutual Funds for investors.

Following is a detailed description of all of the changes.  

Reducing management fees
The maximum annual management fee will be reduced on select series of 45 TD Mutual Funds, effective on or about March 28, 2017 as set out in the following tables:

Fixed Income Funds


Decrease in maximum annual management fees


F-Series &
S-
Series (%)1

Investor Series &
H-Series (%)1

Advisor Series &
T-Series (%)1

D-Series (%)


Current

New

Current

New

Current

New

Current

New

TD Short Term Bond Fund

0.75

0.55

-

-

1.25

1.00

0.90

0.80

TD Canadian Bond Fund

0.60

0.55

-

-

1.25

1.00

0.90

0.80

TD Income Advantage Portfolio

1.00

0.70

1.50

1.40

1.60

1.40

1.00

0.95

TD Canadian Core Plus Bond Fund

0.75

0.55

1.25

1.05

1.25

1.05

1.00

0.80

TD Canadian Corporate Bond Fund

0.75

0.60

1.25

1.10

1.25

1.10

1.00

0.85

TD Corporate Bond Plus Fund

0.85

0.65

1.35

1.15

1.35

1.15

-

-

TD U.S. Corporate Bond Fund

0.75

0.60

1.25

1.10

1.25

1.10

1.00

0.85

TD Real Return Bond Fund

0.60

0.55

-

-

-

-

-

-

TD Global Bond Fund

0.90

0.85

-

-

-

-

-

-

1 All Funds may not offer all indicated series.

Balanced Funds


Decrease in maximum annual management fees


F-Series &
S-Series (%)

Investor Series &
H-Series (%)

Advisor Series &
T-Series (%)

D-Series (%)


Current

New

Current

New

Current

New

Current

New

TD U.S. Monthly Income Fund

0.85

0.75

-

-

-

-

1.00

0.90

TD U.S. Monthly Income Fund– C$

0.85

0.75

-

-

-

-

1.00

0.90

TD Strategic Yield Fund

-

-

-

-

-

-

1.10

1.00

TD Dividend Income Fund

0.85

0.75

-

-

1.85

1.75

-

-

 

Canadian Equity Funds


Decrease in maximum annual management fees


F-Series &
S-Series (%)

Investor Series &
H-Series (%)

Advisor Series &
T-Series (%)

D-Series (%)


Current

New

Current

New

Current

New

Current

New

TD Canadian Low Volatility Fund

0.85

0.75

1.85

1.70

1.85

1.70

1.10

1.00

TD Dividend Growth Fund

0.85

0.80

-

-

1.85

1.75

-

-

 

U.S. Equity Funds


Decrease in maximum annual management fees


F-Series&
S-Series (%)1

Investor Series &
H-Series (%)1

Advisor Series &
T-Series (%)1

D-Series (%)


Current

New

Current

New

Current

New

Current

New

TD U.S. Risk Managed Equity Fund

0.85

0.80

1.85

1.70

1.85

1.70

1.10

1.05

TD U.S. Low Volatility Fund

0.85

0.80

1.85

1.70

1.85

1.70

1.10

1.05

TD U.S. Low Volatility Currency Neutral Fund

0.85

0.80

1.85

1.70

1.85

1.70

1.10

1.05

TD North American Dividend Fund

1.00

0.80

1.85

1.70

1.85

1.70

1.10

1.05

Epoch U.S. Shareholder Yield Fund

1.00

0.85

-

-

-

-

-

-

Epoch U.S. Large- Cap Value Fund

1.00

0.85

-

-

-

-

-

-

TD U.S. Blue Chip Equity Fund

1.00

0.95

2.00

1.85

2.00

1.85

1.25

1.20

TD U.S. Quantitative Equity Fund

0.85

0.80

-

-

-

-

-

-

TD U.S. Equity Portfolio

1.00

0.85

2.00

1.85

2.00

1.85

-

-

1 All Funds may not offer all indicated series.

Global and International Equity Funds


Decrease in maximum annual management fees


F-Series&
S-Series (%)1

Investor Series &
H-Series (%)1

Advisor Series &
T-Series (%)1

D-Series (%)


Current

New

Current

New

Current

New

Current

New

TD Global Risk Managed Equity Fund

0.90

0.85

1.90

1.80

1.90

1.80

1.15

1.10

TD Global Low Volatility Fund

1.00

0.90

2.00

1.90

2.00

1.90

1.25

1.15

Epoch Global Shareholder Yield Fund

1.00

0.95

2.00

1.95

2.00

1.95

1.25

1.20

Epoch Global Shareholder Yield Currency Neutral Fund

1.00

0.95

2.00

1.95

2.00

1.95

1.25

1.20

Epoch Global Equity Fund

1.00

0.95

2.00

1.95

2.00

1.95

1.25

1.20

Epoch International Equity Fund

1.00

0.95

2.00

1.95

2.00

1.95

1.25

1.20

TD International Growth Fund

1.15

0.90

2.00

1.90

2.00

1.90

1.25

1.15

1 All Funds may not offer all indicated series.

Sector Funds


Decrease in maximum annual management fees


F-Series&
S-Series (%)

Investor Series &
H-Series (%)

Advisor Series &
T-Series (%)1

D-Series (%)


Current

New

Current

New

Current

New

Current

New

TD Resource Fund

-

-

-

-

2.00

1.85

-

-

TD Precious Metals Fund

-

-

-

-

2.00

1.85

-

-

1 All Funds may not offer all indicated series.

Retirement Portfolios


Decrease in maximum annual management fees


F-Series &
S-Series (%)

Investor Series &
H-Series (%)

Advisor Series &
T-Series (%)

D-Series (%)


Current

New

Current

New

Current

New

Current

New

TD US$ Retirement Portfolio

0.75

0.65

1.50

1.40

1.50

1.40

-

-

TD Retirement Conservative Portfolio

0.75

0.65

1.50

1.40

1.50

1.40

-

-

TD Retirement Balanced Portfolio

0.85

0.75

1.75

1.65

1.75

1.65

-

-

 

Corporate Class Funds


Decrease in maximum annual management fees


F-Series (%)

Investor Series (%)

Advisor Series (%)


Current

New

Current

New

Current

New

TD Dividend Income Class

0.85

0.75

-

-

1.85

1.75

TD Canadian Low Volatility Class

0.85

0.75

1.85

1.70

1.85

1.70

TD Dividend Growth Class

0.85

0.80

-

-

1.85

1.75

TD U.S. Risk Managed Equity Class

0.85

0.80

1.85

1.70

1.85

1.70

Epoch U.S. Large-Cap Value Class

1.00

0.85

-

-

-

-

TD Global Risk Managed Equity Class

0.90

0.85

1.90

1.80

1.90

1.80

TD Global Low Volatility Class

1.00

0.90

2.00

1.90

2.00

1.90

Epoch Global Equity Class

1.00

0.95

2.00

1.95

2.00

1.95

TD International Growth Class

1.15

0.90

2.00

1.90

2.00

1.90

 

Simplifying the HNW Series Offering

On or about March 28, 2017, TDAM will liquidate the holdings of the terminating HNW series at fair market value and distribute the net assets to securityholders.

If a HNW series will be converted to a different series, the conversion will take place on or about March 28, 2017 at fair market value. This conversion to a different series will not result in a taxable disposition to securityholders. If the current management fee of the destination series is higher than the management fee of the applicable HNW series, TDAM will reduce such management fee to align with the respective HNW series as of March 28, 2017 for all securityholders of the destination series. As such, securityholders of the HNW series will not directly or indirectly be subject to any increase in management fees or administration fees as a result of the conversion.

Securityholders of an applicable HNW series that will be terminated, closed to all purchases or converted to another series will be provided written notice at least 60 days prior to March 28, 2017.

TD Mutual Funds

Premium
Series

Premium
F‑Series

K‑Series

PS‑Series

Money Market Funds

TD U.S. Money Market Fund

Closed to New
Investors

-

-

-

Fixed Income Funds

TD Short Term Bond Fund

No New
Purchases

Terminate

-

-

TD Canadian Bond Fund

No New
Purchases

No New
Purchases

-

-

TD Income Advantage Portfolio

Closed to New
Investors

Convert to
F‑Series

No New
Purchases

Convert to
S‑Series

TD Canadian Core Plus Bond Fund

Closed to New
Investors

No New
Purchases

-

-

TD Canadian Corporate Bond Fund

Terminate

Terminate

-

-

TD Corporate Bond Plus Fund

No New
Purchases

-

-

-

TD U.S. Corporate Bond Fund

Terminate

Terminate

-

-

TD High Yield Bond Fund

Terminate

Terminate

-

-

Balanced Funds

TD Tactical Monthly Income Fund

Closed to New
Investors

No New
Purchases

No New
Purchases

Terminate

TD U.S. Monthly Income Fund

Closed to New
Investors

No New
Purchases

Terminate

Terminate

TD U.S. Monthly Income Fund – C$

No New Purchases

Terminate

-

-

TD Strategic Yield Fund

No New Purchases

Terminate

-

-

TD Dividend Income Fund

Closed to New
Investors

Convert to
F‑Series

-

-

Canadian Equity Funds

TD Canadian Low Volatility Fund

Convert to
Investor Series

Convert to
F‑Series

-

-

TD Dividend Growth Fund

Closed to New
Investors

No New
Purchases

-

-

TD Canadian Equity Fund

No New
Purchases

Terminate

-

-

U.S. Equity Funds

TD U.S. Risk Managed Equity Fund2

Convert to
Investor Series

Convert to
F‑Series

-

-

TD U.S. Low Volatility Fund2

Convert to
Investor Series

Convert to
F‑Series

-

-

TD North American Dividend Fund

Convert to
Investor Series

Convert to
F‑Series

-

-

Epoch U.S. Shareholder Yield Fund2

Terminate

Terminate

-

-

Epoch U.S. Large Cap Value Fund2

Terminate

Terminate

-

-

 

Global Equity Funds

TD Global Risk Managed Equity Fund

Terminate

Convert to
F‑Series

-

-

TD Global Low Volatility Fund

No New
Purchases

No New
Purchases

-

-

Epoch Global Shareholder Yield Fund

Terminate

Terminate

-

-

Epoch Global Equity Fund

Terminate

Terminate

-

-

Target Return Funds

TD Target Return Conservative Fund

No New
Purchases

Terminate

-

-

TD Target Return Balanced Fund

Terminate

Terminate

-

-

Retirement Portfolios

TD US$ Retirement Portfolio

Terminate

Convert to
F‑Series

Terminate

Convert to
S‑Series

TD Retirement Conservative Portfolio

Closed to New
Investors

Convert to
F‑Series

No New
Purchases

Convert to
S‑Series

TD Retirement Balanced Portfolio

Closed to New
Investors

Convert to
F‑Series

No New
Purchases

Convert to
S‑Series

2 Changes apply to both the Canadian and US dollar purchase options

About TD Asset Management

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 more than 2 million retail investors and offers a broadly diversified suite of investment solutions including mutual funds, professionally management portfolios and corporate class funds. Collectively, TDAM manages over C$310 billion in assets as at September 30, 2016.

SOURCE TD Asset Management Inc.

For further information: Laura Mergelas, Corporate & Public Affairs, TD Bank Group, 416-983-1514, laura.mergelas@td.com


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