TORONTO, Jan. 11, 2012 /CNW/ - TD Asset Management Inc. (TDAM) today announced plans to terminate operations of the TD Private Canadian Growth Fund and TD Private U.S. Growth Currency Neutral Fund (the "Funds"). Effective today, the Funds will cease offering units for purchase and will be terminated on or about March 26, 2012.
The Funds are being terminated as TDAM is streamlining the TD Private Funds offering.
Unitholders may redeem or switch their holdings in the Funds for settlement on or prior to the termination date. TDAM will liquidate the holdings of the Funds at fair market value, determine distributions, and, on or about March 26, 2012, distribute the net assets to remaining unitholders.
Unitholders of the Funds will be contacted and provided with information outlining details of the terminations. Private Investment Counsel portfolio managers will work with their clients to determine alternative investment solutions.
About TD Asset Management
TD Asset Management Inc. (TDAM) is a fully integrated North American investment manager, with C$189 billion in assets under management as of October 31, 2011. TDAM offers investment solutions to corporations, pension funds, endowments, foundations and high net worth individuals. A cornerstone of the success of TDAM's investment strategies has been the firm's disciplined and risk-controlled approach to investment, along with its ability to innovate progressive solutions that meet clients' changing needs and objectives.
Under TD Private Funds, TDAM manages approximately $7.0 billion (CDN) in assets. TD Waterhouse Private Investment Counsel Inc. is one of Canada's largest private client money management firms. TD Waterhouse Private Investment Counsel's extensive network of professional portfolio managers provide discretionary investment management services to high net worth individuals and their families, small and mid-size corporations, charitable organizations and foundations, and executors and trustees from coast to coast.
For further information:
TD Bank Group