TDAM terminates funds

Toronto-based TD Asset Management Inc. (TDAM), which handles the portfolio management of TD Mutual Funds, has announced its plans to terminate the operations of two mutual funds on or about Oct. 3: TD Fixed Income Capital Yield Pool Class and TD Global High Yield Capital Class fund. The decision to terminate these funds was made as a result of measures announced in the federal budget in March 2013 that will eliminate tax benefits for certain investment funds, including these funds. These funds have been closed to additional investment since April 5, 2013. Investors may redeem or switch their holdings in these funds for settlement on or before the termination date. On or about Oct. 3, TDAM will liquidate the holdings of the terminating funds at fair market value, determine distributions and distribute the net assets to unitholders or shareholders.

(cohara@investmentexecutive.com).