TORONTO, Aug. 7 /CNW/ - TD Asset Management Inc. (TDAM) announced money
market fund net sales of $174 million and long-term fund net redemptions of
$104 million for total net sales of $70 million in the month of July. Total
net assets invested in TD Mutual Funds totaled $57 billion as of the end of
"Our net sales were affected by market uncertainty," said Tim Pinnington,
President TD Mutual Funds. "Overall, investors continue to remain cautious
preferring the safety of money market funds."
TD Mutual Funds' top selling long-term funds for the month included the
TD Real Return Bond Fund, TD Canadian Equity Fund, TD Dividend Growth Fund and
TD Balanced Growth Fund.
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 July 31, 2008, TDAM was the
fourth largest mutual fund company in Canada, with $57 billion invested in
TD Mutual Funds.
For further information:
For further information: Maria Leung, TD Bank Financial Group, (416)