TD Asset Management Inc. Announces Portfolio Adviser Change

TORONTO, July 15 /CNW/ - TD Asset Management Inc. (TDAM), the manager of TD Mutual Funds, today announced a portfolio adviser change for the TD International Equity Growth Fund.

On July 13, 2010, Old Mutual (US) Holdings Inc. announced its intention to acquire the international equity portfolio management team for the TD International Equity Growth Fund (the "Fund") from Invesco Advisers, Inc., the current portfolio adviser for the Fund. Under the proposed transaction, the portfolio management team for the Fund will form a new affiliate called Echo Point Investment Management, LLC (Echo Point), based in West Conshohocken, PA. As a result of the transaction, Echo Point will become the portfolio adviser of the Fund, effective on or about September 30, 2010, and it is expected that the portfolio management team led by Hans van den Berg and David Sugimoto will remain the same. There will be no change to the Fund's investment objectives or strategies.

About TD Asset Management Inc.

Under the TD Mutual Funds name, TDAM provides a diverse range of over 60 mutual funds and 25 professionally managed portfolios. TDAM manages retail mutual fund assets on behalf of more than 1.4 million investors and TD Mutual Funds is one of the most broadly diversified fund families in Canada. Funds are available at TD Canada Trust branches (through TD Investment Services Inc. representatives), TD Waterhouse Discount Brokerage, Financial Planning and Private Investment Advice, as well as leading investment dealers, independent brokers, advisors and financial planners. As of June 30, 2010, TDAM was the fourth largest mutual fund company in Canada, with $55.2 billion invested in TD Mutual Funds.

For further information: Maria Saros Leung, TD Bank Financial Group, 416-983-4093, [email protected]