TD Asset Management Inc., the investment manager of the TD Global Asset Allocation and TD Japanese Growth Funds, today announced changes in the advisor structure for the two funds.

The mandate for the TD Global Asset Allocation Fund, currently managed by the global asset allocation team at TDAM and two external sub-advisors, will now rest solely with the internal TDAM team.

As a result, effective November 9, the mandates will end for external sub-advisors, Mellon Capital Management Corporation and J.P. Morgan Fleming Asset Management Inc. J.P. Morgan continues in its role as sub-advisor to the TD Global Government Bond Fund.

Similarly, subject to regulatory approval, TDAM will assume direct investment management of the TD Japanese Growth Fund, effective December 1. As a result, Perpetual Portfolio Management Ltd. will no longer retain an investment management role related to the Fund, although Perpetual will continue as sub-advisor to the TD Global Select Fund.

This move was made possible by the recent establishment of TD Asset Management Ltd. in the United Kingdom, which acts as sub-advisor to TDAM for the TD Asian Growth and TD AsiaGrowth RSP Funds, and by the recent the hiring of an additional Asian specialist by TDAM in the U.K.

The changes stem from the TDAM and CT Investment Management Group Inc. merger on Oct. 1, 2000, which strengthened the overall capability of TDAM to provide clients with a wide range of investment products and improved its ability to manage in a variety of investment disciplines.

TDAM says it will ensure both a smooth transition in the transfer of responsibilities, and continuity of superior investment management for client assets.