TD Asset Management Inc. is taking over as portfolio advisor at two TD Mutual Funds, the company said Wednesday.

Effective July 21, TD Asset Management will assume portfolio adviser responsibilities for the TD Balanced Growth Fund from McLean Budden Limited. The fund, which had over $1.1 billion in assets under management as of June 30, 2010, will be managed by TD managing directors, John Smolinski and Les Grober.

“Combining John Smolinski’s Canadian equity expertise with the capabilities of our award winning fixed-income team provides investors with best-in-class fund management,” says Thomas Dyck, president, TD Mutual Funds.

In addition, effective September 30, TD will assume portfolio adviser responsibilities for the TD Canadian Blue Chip Equity Fund from Jarislowsky, Fraser Limited. The fund, which had over $1.1 billion in assets under management as of June 30, 2010, will be managed by Michael O’Brien, vice president and director, TD Asset Management.

“We are pleased to extend our blue-chip investing capabilities to more of our clients,” says Dyck. “TDAM has a long-standing track record of providing blue chip investing to discretionary high net worth investors, and with this change, we will be bringing this expertise to our retail and advisor channel investors.”

IE