Toronto-based TD Asset Management Inc. (TDAM), the manager of TD Mutual Funds, has announced an update to certain risk ratings effective July 27.

The risk ratings of seven funds have been changed to reflect the new methodology mandated by the Canadian Securities Administrators and an annual review by TDAM that assesses risk levels of publicly offered mutual funds, the firm says in a news release.

In addition, TDAM has announced name changes for three TD mutual fFunds as of July 27. The investment objectives and investment strategies of the funds will remain the same.

The firm is also changing management fee disclosure in the current TD Mutual Funds simplified prospectus for all the series of the funds included. Currently, the annual management fee rate for each series of each fund is expressed as a maximum annual rate in the simplified prospective, the firm says.

As of July 27, the simplified prospectus will reveal a specified annual management fee rate. In the future, if TDAM chooses to charge a management fee below the specified annual rate, a waived management fee will be stated in the financial reports of the applicable fund.

The entire list of changes is available in the firm’s news release.