TD Asset Management Inc. today announced plans to change the early redemption fee (ERF) structure and certain minimums for some of its TD Mutual Funds and TD Managed Assets Program Portfolios.

The ERF policy for the funds, minimum account balances, initial investment amounts and Pre-authorized Purchase Plans for some funds will be modified to provide a more flexible offering of investment choices.

Effective July 4, the following changes will be implemented:

  1. Currently TD funds may charge an ERF if investors redeem or switch units up to a certain period of time after the initial purchase. This time period will be changed from 90 days to 30 days for the Investor, Advisor, F, H, S, T, Institutional, Premium and O-Series units (where applicable) and changed from 180 days to 90 days for e-Series units of TD Mutual Funds.

  2. The ERF will be charged on units redeemed (other than e-Series units) that have been held for less than 31 days, or less than 91 days for e-Series units of TD Mutual Funds.

  3. Initial investment and account balance minimums will be reduced for non-registered plan accounts from $1,000 to $100 for Investor and e-Series units of all TD Mutual Funds except: TD Premium Money Market Fund; TD Income Advantage Portfolio; and TD U.S. Equity Advantage Portfolio

  4. Initial investment and account balance minimums will be reduced for non-registered plan accounts from $5,000 to $2,000 on Investor, Advisor and e-Series units (where applicable) of: TD Managed and TD Managed Index Portfolios;TD Income Advantage Portfolio; TD U.S. Equity Advantage Portfolio.

  5. PPP minimums will be reduced from $5,000 to $250 for all PremiumSeries units offered by TD MAP Portfolios.