TORONTO, Nov. 4 /CNW/ - TD Asset Management Inc. (TDAM), the manager of TD Mutual Funds, today reported long-term fund net sales totaling $624 million for the month, and money market fund net redemptions of $466 million. Assets invested in TD Mutual Funds totaled $53.2 billion as of the end of October.
"For the second straight month, we have experienced record net sales of our long-term funds, capping off what has been a period of tremendous momentum for our business," said Thomas Dyck, President, TD Mutual Funds. "We are especially proud to have finished the fiscal year ending October 31st in number one position for net sales of long-term funds in Canada."
"While we continue to see incredibly strong sales of our fixed income line-up, we are also seeing a robust uptake of our managed portfolio solutions, including the TD Comfort Portfolios and TD Advantage Investment Portfolios, and our equity line-up, including the TD Dividend Growth Fund."
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 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 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 October 31, 2009, TDAM was the fourth largest mutual fund company in Canada, with $53.2 billion invested in TD Mutual Funds.
SOURCE TD Bank Group
For further information: For further information: Maria Saros Leung, TD Bank Financial Group, (416) 983-4093, email@example.com