TORONTO, July 23, 2014 /CNW/ - TD Asset Management Inc. (TDAM), the
manager of TD Mutual Funds, today announced plans to terminate the
operations of the TD Private Bond Capital Yield Fund (the "Fund") on or
about October 3, 2014.
The decision to terminate the Fund was made as a result of measures
announced in the federal budget in March 2013 which will eliminate
certain tax benefits this Fund provides. This Fund has been closed to
additional investments since April 5, 2013.
Unitholders may redeem or switch their holdings in the Fund for
settlement on or before the termination date. Beginning today, TDAM
will not charge any redemption fees, sales charges or other fees for
transactions on this Fund. On or about October 3, 2014, TDAM will
liquidate the holdings of the terminating Fund at fair market value,
determine distributions and distribute the net assets to unitholders.
Unitholders of the affected fund will be contacted directly with details
of the fund's termination.
About TD Asset Management Inc.
TDAM offers a diverse range of over 120 investment solutions including
mutual funds, professionally managed portfolios and corporate class
funds. TDAM manages retail mutual fund assets on behalf of more than
1.9 million investors and offers 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
Direct Investing, TD Wealth Financial Planning and TD Wealth Private
Investment Advice, as well as leading investment dealers, independent
brokers, advisors and financial planners. As of June 30, 2014, TDAM was
the fourth largest mutual fund company in Canada, with over CDN$89
billion invested in TD Mutual Funds (Source: IFIC).
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SOURCE TD Asset Management Inc.
Sandra De Carvalho
TD Bank Group
416-944-7095
Sandra.DeCarvalho@td.com
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