An anonymous director reports
TD ASSET MANAGEMENT INC. ANNOUNCES INTENTION TO TERMINATE OPERATIONS OF TWO TD POOLS
Toronto-Dominion Bank's TD Asset Management Inc. (TDAM), the
manager of TD Pools, plans to terminate the operations
of the TD Global High Yield Pool and the TD Global High Yield Pool
Trust on or about Oct. 3, 2014.
The decision to terminate the pools was made as a result of measures
announced in the federal budget in March, 2013, regarding the elimination
of tax benefits for investment funds that use forward contracts to
convert income to capital gains for tax purposes. The budget describes
this structure as "character conversion transactions." The pools are
part of the character conversion transactions employed by the TD Global
High Yield Capital Class and were not available for investment by
individual investors. As part of the recently announced termination of
the TD Global High Yield Capital Class on or about Oct. 3, 2014, the
pools will also be closed.
The TD Global High Yield Pool Trust has only been available for purchase
by the TD Global High Yield Capital Class and has been closed to
additional investments since April 12, 2013.
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