TD Asset Management Inc. plans to change a portfolio advisor for one of the TD Mutual Funds funds, the company said Tuesday.

Effective August 1, Newton Capital Management Ltd. will become a portfolio advisor to the TD Global Select Fund, which had over $540 million in assets under management as of June 30.

Newton, established in 1978 and headquartered in London, England, is a subsidiary of The Bank of New York Mellon. Newton, together with its affiliated companies, currently has over US$48 billion in assets under management.

The company was selected for its history of performance and experienced management team, TD Asset Management says.

Newton “employs an active bottom-up approach, seeking out well-managed companies with quality products or services, strong management, sound strategy and which are attractively priced.”

TD Asset Management says it expects the appointment of Newton will enable a smooth transfer of responsibilities and continuity of investment management for the fund.

IE