TD Asset Management Inc. wants to change the investment obectives of some of its TD Mutual Funds. It also want TDAM to pay certain operating expenses of the funds and to establish an administration fee on certain series of units of some funds, and it proposes to amend the declarations of trust on certain funds. These changes are subject to unitholder approval.

The proposals to amend the investment objectives of certain TD Mutual Funds address the removal of the foreign content restrictions for registered plans announced in 2005. Proposed amendments to the investment objectives of certain other funds would provide the funds with the flexibility to broaden their investment universes, provide greater clarity with respect to the existing investment objectives, or provide the funds with a greater focus on investment opportunities.

“The removal of the foreign property restrictions by the federal government in 2005 provided an opportunity to make changes to provide many funds access to a broader universe of investments, thus increasing the funds’ potential for greater investment returns,” says Timothy Pinnington, president of TD Mutual funds. “With these changes, we continue to deliver a full-range of investment solutions that are responsive to the changing needs of our investors and advisors.”

In addition to the investment objective changes, TDAM is proposing to pay certain operating expenses of the funds. As part of the proposal, TDAM proposes to establish a specified administration fee for the Investor Series, Advisor Series, H-Series and T-Series (collectively, the “Series”) of certain funds. Currently each series of a Fund is subject to operating expenses that fluctuate year-over-year.

“There is an increasing focus on the variability of MERs. Our proposal addresses this concern by providing investors with greater certainty with respect to certain components of the MER, which would become fixed and predictable. In doing so, we also expect a decrease in the MERs for the Series of certain funds for the immediate benefit of a large number of investors. This approach is the same as the well received approach recently taken for ten new funds,” says Pinnington.