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Attention Business Editors
TD Mutual Funds reports June sales and assets
TORONTO, July 3 /CNW/ - TD Asset Management Inc. (TDAM) today reported
long-term fund net sales totaling $316 million for the month, and money market
fund net redemptions of $180 million. Assets invested in TD Mutual Funds
totaled $50.2 billion as of the end of June.
"We continued to see signs of momentum in our long-term fund sales for
June, particularly our fixed-income products," said Tim Pinnington, President
TD Mutual Funds.
"We also reached our second-highest June on record for sales of long-term
funds as investors and advisors continue to remain confident in the management
of our mutual fund line-up," continued Pinnington. "Moreover, our gross
redemptions remained low for the month, down nearly 50 per cent from last
year, demonstrating that investors are sticking to their long-term
strategies."
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 Corporate Bond Capital Yield Fund, and TD Dividend Income Fund.
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About TD Asset Management Inc.
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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 June 30, 2009, TDAM was the
fourth largest mutual fund company in Canada, with $50.2 billion invested in
TD Mutual Funds.
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