Fund mergers proposed by TDAM will not proceedBy The IJ Staff | October 09 2019 11:30AM
TD Asset Management Inc. (TDAM) announced Oct. 8 that the proposed mergers of TD Advantage Balanced Income Portfolio into TD Managed Income Portfolio, and TD Advantage Balanced Portfolio into TD Managed Income & Moderate Growth Portfolio, will not proceed.
Quorum was not achieved to permit the required special meetings of unitholders to be conducted, explained TDAM.
As a result, TDAM has decided to cap TD Advantage Balanced Income Portfolio and TD Advantage Balanced Portfolio to new purchases on or about Jan. 1, 2020. This includes purchases made through Pre-Authorized Purchase Plans.
Asian Growth Fund
TDAM also announced that due to a change to TD Asian Growth Fund's fundamental investment objectives, Martin Currie Inc. will be removed as the fund's sub-adviser and TDAM, as the fund's portfolio adviser, will assume full portfolio management responsibility of the fund, effective on or about Feb. 3, 2020.
TDAM also stated that it intends to reduce this fund's management fees.