(August 24 – 17:40 ET) – TD Asset Management Inc. and CT Investment Management Group Inc. say that unitholders have approved the merger of several mutual funds at meetings held recently in Toronto. The fund companies report that, on average, respondents voted over 90% in favour of the mergers.
“We’re certainly pleased that unitholders have shown their continued confidence in us and we believe they will be rewarded with this diverse, high- quality selection of mutual fund investments,” said Mark Wettlaufer, President, TD Asset Management.
The imerger of the two fund groups will create new family of funds to be known as TD Mutual Funds. Once the integration is complete on October 10, TD Mutual Funds will be the fifth largest mutual fund company in Canada.
The companies also announced today that the CT Premium Money Market Fund will be closed to new investments effective October 10. Investors will be permitted to maintain their current investment in this fund, however, no future investments will be permitted.
-IE Staff