TORONTO, May 4 /CNW/ - TD Asset Management Inc. (TDAM) today reported
long-term fund net sales totaling $141 million for the month, and money market
fund net redemptions of $180 million. Assets invested in TD Mutual Funds
totaled $47.6 billion as of the end of April.
"We saw investors return to long-term funds during April as yields on
money market funds generally hit historic lows," said Tim Pinnington,
President, TD Mutual Funds. "As the corporate bond market continues to
recover, we are seeing renewed interest in our industry-leading fixed income
Transfers from money market funds to long-term funds increased by nearly
60 per cent compared to March. "As short-term interest rates have declined,
TDAM has to date progressively waived management fees on its money market
funds in order to deliver yields that are reasonable in light of the interest
rate environment," continued Pinnington.
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,
TD Dividend Income Fund and 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 April 30, 2009, TDAM was the
fourth largest mutual fund company in Canada, with $47.6 billion invested in
TD Mutual Funds.
For further information:
For further information: Maria Leung, TD Bank Financial Group, (416)