TORONTO, Dec. 7 /CNW/ - TD Asset Management Inc. (TDAM), the manager of TD Mutual Funds, today reported long-term fund net sales totaling $620 million for the month, and money market fund net redemptions of $379 million. Assets invested in TD Mutual Funds totaled $54.6 billion as of the end of November.
"We are very pleased that for the third straight month we have experienced record net sales of our long-term funds," said Thomas Dyck, President, TD Mutual Funds.
TD Mutual Funds was also recognized at the Canadian Investment Awards on December 2, 2009, taking top prize in the Healthcare Equity category for the TD Health Sciences Fund, managed by TDAM and sub-advised by T Rowe Price Associates, Inc. TD Mutual Funds' TD Canadian Bond Fund was also named a finalist in the Canadian Fixed Income category.
TD Mutual Funds' highest selling long-term funds for the month include the TD Mortgage Fund, TD Short Term Bond Fund, TD Income Advantage Portfolio, and TD Canadian Bond Fund.
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 November 30, 2009, TDAM was the fourth largest mutual fund company in Canada, with $54.6 billion invested in TD Mutual Funds.
SOURCE TD Asset Management Inc.
For further information: For further information: Maria Saros Leung, TD Bank Financial Group, (416) 983-4093, firstname.lastname@example.org