TD Asset Management Inc. has launched a premium series of its U.S. money market fund, which it says is the first of its kind on the Canadian market.

The new TD U.S. Money Market Fund — Premium Series charges a management fee of up to 0.39%, allowing for a higher yield. As at October 22nd, 2004, the current yield of the series is 1.47%.

Launched on October 14, TD says the series requires a minimum investment requirement of US$250,000.

“We’re very pleased to be able to add to the TD U.S. Money Market Fund by offering the Premium Series,” said Steve Geist, President, TD Mutual Funds, in a news release. “With this series, clients will now have even more opportunity to choose the investment product that best meets their needs.”