TD Asset Management Inc. Announces Portfolio Adviser Changes

TORONTO, July 14 /CNW/ - TD Asset Management Inc. (TDAM), the manager of TD Mutual Funds, today announced portfolio adviser changes for two of its funds. Effective on or about July 21, 2010, TDAM will assume portfolio adviser responsibilities for the TD Balanced Growth Fund from McLean Budden Limited. The fund, which had over $1.1 billion in assets under management as of June 30, 2010, will be managed by TDAM Managing Directors, John Smolinski and Les Grober.

"Combining John Smolinski's Canadian equity expertise with the capabilities of our award winning fixed-income team provides investors with best-in-class fund management," said Thomas Dyck, President, TD Mutual Funds.

In addition, effective on or about September 30, 2010, TDAM will assume portfolio adviser responsibilities for the TD Canadian Blue Chip Equity Fund from Jarislowsky, Fraser Limited. The fund, which had over $1.1 billion in assets under management as of June 30, 2010, will be managed by Michael O'Brien, Vice President and Director, TDAM.

"We are pleased to extend our blue-chip investing capabilities to more of our clients," said Dyck. "TDAM has a long-standing track record of providing blue chip investing to discretionary high net worth investors, and with this change, we will be bringing this expertise to our retail and advisor channel investors."

"We would like to thank both McLean Budden and Jarislowsky, Fraser for their stewardship of these funds during their respective tenures," added Dyck.

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: For media inquiries, please contact: Maria Saros Leung, TD Bank Financial Group, 416-983-4093, [email protected]