TD Asset Management Inc. plans to terminate operations of the TD Private North American Equity Fund, the company said Monday.

Effective immediately, the fund will cease offering units for purchase and will be terminated on or about February 26, 2010.

The fund is being terminated as the company is streamlining the TD Private Funds offering, TD Asset Management said.

Unitholders may redeem or switch their holdings in the fund for settlement on or prior to the termination date.

TD said will liquidate the holdings of the fund at fair market value, determine distributions and, on Feb. 26, distribute the net assets to remaining unitholders.

Unitholders of the fund will be contacted and provided with information outlining details of the termination. Private investment counsel portfolio managers will work with their clients to determine alternative investment solutions.

IE