TORONTO, Jan. 6 /CNW/ - TD Asset Management Inc. (TDAM) today reported
money market fund net sales of $118 million, and estimated long-term fund net
redemptions of $156 million. Total net assets invested in TD Mutual Funds
totaled $46.8 billion as of the end of December.
"Our assets under management increased slightly in the month ending
December 31, 2008 as market volatility decreased from the levels experienced
over the past three months," said Tim Pinnington, President TD Mutual Funds.
"Further, gross sales improved by 16% and gross redemptions decreased by 5%
from November, which is an encouraging sign that investor confidence is
Net sales of the new TD Comfort Portfolios, launched on December 8, 2008
total $17 million. The Portfolios, which are sold through TD Canada Trust
branches(1), are an all-in-one solution that offer investors diversification,
value, and access to TD Mutual Funds' top quality funds. "Given the
unprecedented market volatility of 2008, the strong net sales of our newest
investment offering speaks to the quality of our funds, and the high calibre
of our fund managers," concluded Pinnington.
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 December 31, 2008, TDAM was
the fourth largest mutual fund company in Canada, with $46.8 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)