TD Asset Management is terminating the operations of three mutual funds.
On October 3, 2014, the bank is closing the:
- TD Fixed Income Capital Yield Pool Class;
- TD Global High Yield Capital Class; and
- TD Private Bond Capital Yield Fund.
The decision to terminate the funds was made as a result of measures announced in the 2013 federal budget, which eliminate the tax benefits of certain investment funds. No additional investments have been accepted since April 5, 2013, but the funds will now all be closed.
Unit holders and shareholders may redeem or switch their holdings in the funds for settlement on or before the termination date. Beginning today, TD AM will not charge any redemption fees, sales charges or other fees for transactions on these funds.
As of the termination date, the bank will liquidate the holdings of the terminating funds at fair market value, determine distributions and distribute the net assets to unit holders and shareholders.