TORONTO, Aug. 5 /CNW/ - TD Asset Management Inc. (TDAM) today reported
long-term fund net sales totaling $295 million for the month, and money market
fund net redemptions of $167 million. Assets invested in TD Mutual Funds
totaled $51.5 billion as of the end of July.
"We experienced one of our strongest Julys on record for long term fund
net sales as investors and advisors maintained their confidence in the value
and management of our fund line-up," said Tim Pinnington, President TD Mutual
Funds. "Gross redemptions also continued to decline, down 50 per cent from
TD Mutual Funds' highest selling long-term funds for the month include
the TD Short Term Bond Fund, TD Dividend Growth Fund, TD Canadian Bond Fund
and the TD Income Advantage Portfolio.
"We saw strong results for many of our fixed-income products, such as the
best-selling TD Short Term Bond Fund. Low interest rates for cash deposits and
cash equivalents have made them an attractive option for investors," added
About TD Asset Management Inc.
Under the TD Mutual Funds name, TDAM provides a diverse range of over 60
mutual funds and 20 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, 2009, TDAM was the
fourth largest mutual fund company in Canada, with $51.5 billion invested in
TD Mutual Funds.
For further information:
For further information: Maria Leung, TD Bank Financial Group, (416)