Over $1 Billion in assets invested in TD Comfort Portfolios in 2009
TORONTO, Jan. 7 /CNW/ - TD Asset Management Inc. (TDAM), the manager of TD Mutual Funds, reported long-term fund net sales totaling $575 million for December 2009, the highest in the industry for the month, and money market fund net redemptions of $448 million. Net sales of long-term funds for the year ending totaled $3.79 billion. Assets invested in TD Mutual Funds reached $55.1 billion as of the end of the month, an increase of 17.4% from December 2008.
"In second half of 2009, we saw many investors return to their long-term investing strategies favoring a more balanced approach to building their portfolios," says Thomas Dyck, President, TD Mutual Funds. "Investors and advisors continue to show confidence in our approach to portfolio management and rewarded us with strong net sales of our long-term funds which exceeded all previous Decembers on record, and helped us achieve number one in Canada for net sales of long-term funds in December."
TD Mutual Funds also finished off 2009 with another significant milestone, $1.1 billion in assets invested in the TD Comfort Portfolios. "The TD Comfort Portfolios were launched in December 2008 to meet the unique investment profiles of our customers and leverage the ongoing expertise of our investment professionals," says Dyck. "Reaching over $1 billion in assets in just one year is a tremendous achievement."
TD Mutual Funds' highest selling long-term funds for 2009 include the TD Short-Term Bond Fund, TD Mortgage Fund, TD Dividend Growth Fund, TD Canadian Bond Fund and the TD Comfort Balanced Portfolio.
About TD Asset Management Inc.
Under the TD Mutual Funds name, TDAM provides a diverse range of over 60 mutual funds and 25 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 December 31, 2009, TDAM was the fourth largest mutual fund company in Canada, with $55.1 billion invested in TD Mutual Funds.
SOURCE TD Bank Group
For further information: For further information: Maria Saros Leung, TD Bank Financial Group, (416) 983-4093, firstname.lastname@example.org