TDAM joins the ETF party; merges funds

Toronto-based TD Asset Management Inc. (TDAM) entered the ETF space at the end of March. TDAM launched six passive ETFs to follow fixed-income securities and equities, with exposure to Canadian, U.S. and international markets. The new ETFs are: TD Canadian Aggregate Bond Index ETF, TD International Equity Index ETF, TD International Equity CAD Hedged Index ETF, TD S&P 500 Index ETF, TD S&P 500 CAD Hedged Index ETF and the TD S&P/TSX Capped Composite Index ETF. Fees for common shares of the ETFs range from 0.07% to 0.18%. TDAM also announced the completion of six fund mergers following the approval of unitholders at a special meeting. Unitholders of each of the discontinued funds will receive units in the same series of the respective continuing fund. For example, unitholders of the discontinued TD Energy Fund will receive units (on a dollar-for-dollar basis) in the continuing TD Resource Fund. In addition to the mergers, TDAM also announced the termination of TD Canadian T-Bill Fund. For full details – including ETF details and a list of the merged funds and their corresponding fees – visit www.tdam.com.

(fcollie@investmentexecutive.com).