Favouring the more affluent investor, TD Asset Management Inc. has reduced management fees on a series of funds, which require a hefty base investment.
TDAM, manager of TD Mutual Funds, announced Tuesday that preferential pricing on fee-based accounts will be available by expanding its Premium Series and introduction to Premium F-Series. The 22 existing funds - which include low volatility funds and TD Retirement portfolios - require a minimum investment of $100,000 per fund and $150,000 for the retirement portfolios. Subsequent investment minimums are $100 for all funds.
"Expanding our Premium Series and introducing the new Premium F-Series gives advisors the ability to build comprehensive portfolios that meet the needs of their affluent clients," said Paul Orlander, president of TD Mutual Funds in a news release. "It also gives these investors preferential pricing on a number of our funds including some of our most innovative investment solutions."
According to TDAM, the series of funds meet a diverse range of client needs, covering major asset classes, investment style and geographic regions.
According to Statistics Canada's National Household Survey released in September the richest one per cent of the population - or 272,600 individuals - make 10 times more than the average Canadian.