TD Bank merges seven of its mutual funds in streamlining exercise
TD Asset Management and TD Managed Assets Program have proposed a merger of some of its mutual funds so as to streamline its line-up; the moves are now subject to regulatory approval.

2015-10-23 15:53 ET - News Release

An anonymous director reports

TD ASSET MANAGEMENT INC. TO STREAMLINE ITS MUTUAL FUNDS LINE-UP

TD Asset Management Inc. (TDAM), the manager of TD Mutual Funds and TD Managed Assets Program Portfolios of Toronto-Dominion Bank, has proposed changes to certain mutual funds as described below.

Fund mergers

The following mutual funds are proposed to be merged into other mutual funds on or about April 15, 2016.

Discontinuing fund To be merged into TD Energy Fund TD Resource Fund TD Precious Metals Fund TD Resource Fund TD Latin American Growth Fund TD Emerging Markets Fund TD Mortgage Fund TD Short Term Bond Fund TD Canadian Blue Chip Equity Fund TD Canadian Equity Fund TD Canadian Blue Chip Equity Class TD Canadian Equity Class TD FundSmart Managed Income Portfolio TD Managed Income Portfolio

Each proposed merger is subject to regulatory approval and the approval of the securityholders of the discontinuing fund. The mergers involving the TD Resource Fund are also subject to regulatory approval and the approval of the securityholders of the TD Resource Fund.

Upon completion of the merger, securityholders of each series of each of the discontinuing funds set out above will receive units of the equivalent series of the continuing fund on a dollar-for-dollar and tax-deferred basis. Each of the discontinuing funds will be wound up following the mergers.

The independent review committee of TDAM considered and approved the proposed mergers after determining that the proposed mergers, if implemented, achieve a fair and reasonable result for each of the applicable funds.

Securityholders may continue to redeem or switch their holdings in the funds on or prior to the effective date of the merger. Securityholders will not be required to pay any redemption fees, sales charges or other fees associated with the discontinuing funds.

Proposed termination of the TD Canadian T-Bill Fund and certain other fund terminations

Subject to obtaining securityholder approval at a special meeting to be held on or about April 6, 2016, TDAM proposes to terminate the TD Canadian T-Bill Fund.

In addition, TDAM plans to terminate the following mutual funds on or about April 15, 2016:

TD Japanese Index Fund;

TD Japanese Growth Fund;

TD FundSmart Managed Maximum Equity Growth Portfolio;

TD U.S. Equity Currency Neutral Portfolio.

Effective Dec. 1, 2015, the terminating funds will no longer accept additional investments.

Securityholders may continue to redeem or switch their holdings in the funds on or prior to the termination date. Securityholders will not be required to pay any redemption fees, sales charges or other fees associated with the terminating funds.

Securityholder approval

TDAM will seek securityholder approvals for the proposed mergers and the termination of the TD Canadian T-Bill Fund at a special meeting to be held on or about April 6, 2016, in Toronto, Ont.

Notice of the meeting, together with an information circular containing full details of the proposals, will be mailed to securityholders in accordance with securities regulatory requirements.

Change in investment strategies of TD Resource Fund

Effective on or about Nov. 16, 2015, in order to enhance the investor experience, the investment strategies of TD Resource Fund will be changed to provide the fund with the flexibility to invest its assets in securities anywhere in the world.