TORONTO, June 2 /CNW/ - TD Asset Management Inc. (TDAM) today reported
long-term fund net sales totaling $302 million for the month, and money market
fund net redemptions of $122 million. Assets invested in TD Mutual Funds
totaled $49.2 billion as of the end of May.
"May was a solid month for TD Mutual Funds, with gross redemptions down
over 50% from last year," said Tim Pinnington, President TD Mutual Funds.
"Investors continued to show confidence in our long-term funds, especially our
fixed-income products. This demonstrates our in-house portfolio management
team's expertise in corporate bond research."
Net sales of TD Comfort Portfolios, available through TD Canada Trust
branches(1), have reached $292 million since the product launched in December
2008. "We are proud of the response to the Comfort Portfolios. In the six
months since they launched, over 34,000 customers have invested in the
product," said Pinnington. The all-in-one investment solution offers investors
diversification, value, and access to some of TD Mutual Funds' high-quality
TD Mutual Funds' highest selling long-term funds for the month include
the TD Short Term Bond Fund, TD Canadian Bond Fund, TD Dividend Growth Fund,
TD Corporate Bond Capital Yield 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 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 May 31, 2009, TDAM was the
fourth largest mutual fund company in Canada, with $49.2 billion invested in
TD Mutual Funds.
(1) Mutual funds representatives with TD Investment Services Inc.
distribute mutual funds at TD Canada Trust branches.
For further information:
For further information: Maria Leung, TD Bank Financial Group, (416)