TORONTO, Sept. 5 /CNW/ - TD Asset Management Inc. (TDAM) announced total
net sales of $83 million, including long-term fund net sales of $1 million and
money market fund net sales of $82 million. Total net assets invested in
TD Mutual Funds totaled $57.6 billion as of the end of August.
"August is traditionally a slow month for mutual fund sales, and this
August was no exception," said Tim Pinnington, President, TD Mutual Funds.
"Our gross sales in long-term funds continue to reflect a muted industry sales
environment as money market funds are receiving the majority of new money."
"Despite the uncertainty in the markets, TD Mutual Funds continues to
seek to deliver long-term results for our investors," continued Pinnington.
"We are especially proud of our top-selling fund this month, the TD Canadian
Equity Fund, managed by John Smolinski."
Other top selling long-term funds for the month included the TD Dividend
Income Fund, TD Canadian Bond Fund, TD Real Return Bond Fund and TD Global
About TD Asset Management Inc.
Under the TD Mutual Funds name, TDAM provides a diverse range of over
60 mutual funds and 15 professionally managed portfolios. TDAM manages retail
mutual fund assets on behalf of more than 1.4 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 Waterhouse Discount Brokerage, Financial Planning and
Private Investment Advice, as well as leading investment dealers, independent
brokers, advisors and financial planners. As of August 31, 2008, TDAM was the
fourth largest mutual fund company in Canada, with $57.6 billion invested in
TD Mutual Funds.
For further information:
For further information: Maria Leung, TD Bank Financial Group, (416)