TORONTO, Dec. 6 /CNW/ - TD Asset Management Inc. (TDAM), the Manager of TD Mutual Funds, reported total net sales of $55 million for November, long-term fund net sales of $363 million and money market fund net redemptions of $308 million. Assets invested in TD Mutual Funds reached $59.1 billion at of the end of the month, an increase of 1.6% from October 31, 2010.
TDAM was named "Morningstar Fixed Income Fund Manager of the Year" at the 16th annual Canadian Investment Awards held in Toronto on December 1, 2010, and a number of TDAM funds were also named winners. Of note, the award for the Canadian Balanced Fund category went to the TD Monthly Income Fund, and for the Canadian Fixed Income Fund category to the TD Canadian Bond Fund.
"Balanced and fixed income funds have accounted for the majority of the industry's net sales this year," said Thomas Dyck, President, TD Mutual Funds. "Our firm's leadership in both these categories was recognized at the Canadian Investment Awards and in our top selling funds this month."
TD Mutual Funds' top selling funds for November include the TD Income Advantage Portfolio, TD Comfort Balanced Income Portfolio, TD Comfort Balanced Portfolio, TD Comfort Balanced Growth Portfolio and TD Monthly Income Fund.
About TD Mutual Funds
Under the TD Mutual Funds name, TDAM provides a diverse range of over 70 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, 2010, TDAM was the fourth largest mutual fund company in Canada, with over $59 billion invested in TD Mutual Funds.
For further information: For further information:
Ali Duncan Martin, TD Bank Group, 416-983-4412, Ali.DuncanMartin@td.com