Fund Advisers
TD ASSET MANAGEMENT INC.
Overview
TD Mutual Funds Advised
Investment Philosophy
Management Team
Adviser Reports
Overview
Under the TD Mutual Funds name, TDAM provides a diverse range of 65 mutual funds and 15 professionally managed portfolios.
TD Asset Management Inc. (TDAM), a member of the TD Bank Financial Group and part of the TD Wealth Management group of companies, is one of Canada’s largest asset managers. TDAM is an investment management firm with leading market positions in passive, quantitative and active portfolio management. TDAM and its affiliates manage assets of approximately C$170 billion for mutual funds, pension funds, corporations, institutions, endowments and foundations and accounts for high net worth individuals on behalf of domestic and global clientele (as of December 31, 2007).
Underpinning TDAM is a dedicated team of internal investment professionals. Employees at TDAM are required to adhere to TDAM’s Corporate Policies, TD Bank’s Code of Conduct, and TD Privacy Code policies. Also, employees at TDAM that have attained the right to use the Chartered Financial Analyst (CFA) designation are bound by the CFA Institute’s Code of Ethics and Standards of Professional Conduct.
Providing expertise in international and specialized market segments for several TD Mutual Funds are some of the world’s most respected money managers, including T. Rowe Price Associates, Inc., OppenheimerFunds, Inc., Morgan Stanley Investment Management Inc., Brandywine Global Investment Management, LLC, Martin Currie Inc. and AllianceBernstein Canada, Inc.
TD Mutual Funds are offered by TD Asset Management Inc. ("TDAM"), a wholly owned subsidiary of The Toronto-Dominion Bank ("TD Bank"). TD Investment Services Inc. is the principal distributor of TD Mutual Funds.
TD Mutual Funds Advised
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Investment Philosophy
Active Fundamental Fixed Income and Equity Management
Our philosophy is to provide superior risk-adjusted returns that are sustainable over the long-term. This is achieved through diligent fundamental analysis to identify well-priced, high-quality investments with long-term growth potential. Quantitative analysis is also used to assist with portfolio construction. On the fixed income side, we believe that an expertise in credit research and an in-depth understanding of the relationships between yield, credit and the term-to-maturity enhance returns. On the equity side, we primarily use a bottom-up process, where our managers evaluate individual securities on a fundamental basis utilizing extensive internal research. This foundation is complemented by the identification of macroeconomic trends and overlaying industry, sector, country, or economic viewpoints.
Index and Quantitative Management
Our quantitative investment philosophy is founded on the belief that pricing anomalies in securities markets can be exploited in a highly risk-controlled manner. This is achieved through rigorous statistical analysis and econometric techniques to capture value added on a consistent incremental basis. Our quantitative models are robust, adaptive, and the data is continuously updated. They produce highly diversified portfolios with well-controlled risk factors relative to their respective benchmarks.
Management Team
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Satish Rai, CFA
Title: Vice Chair (TDAM) and Senior Vice President (TDBFG)
Education: Bachelor of Mathematics, University of Waterloo, Chartered Financial Analyst
Industry Experience: Since 1986
Fund(s): TD Canadian Bond Fund
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Craig Bethune
Title: Vice President
Education: M.B.A., University of Toronto, Chartered Financial Analyst
Industry Experience: Since 1996
Previous Positions: Portfolio Manager, OMERS ; Associate, Credit Suisse First Boston
Fund(s): TD Canadian Value Fund
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Vishal Bhatia
Title: Vice President
Education: BSc (Hons), Cell & Molecular Biology, University of Toronto; Chartered Financial Analyst
Industry Experience: Since 1996
Previous Positions: Analyst and Trader, TD Asset Management
Fund(s): TD International Index Fund, TD DJIA Index Fund, TD U.S. Index Fund, TD European Index Fund, TD Japanese Index Fund, TD Balanced Index Fund, TD Canadian Index Fund
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Dino Bourdos, CFA
Title: Vice President & Director
Education: BA Economics, University of Toronto, Chartered Financial Analyst, Chartered Market Technician (CMT) program, Registered Commodity Trading Manager
Industry Experience: Since 1996
Previous Positions: Analyst and Trader with Canada Trust Investment Management Group
Fund(s): TD U.S. Index Currency Neutral Fund, TD Nasdaq Index Fund, TD International Index Currency Neutral Fund
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Scott Colbourne
Education: MBA, University of Toronto; Honours BA in Economics and History, Queen’s University; Chartered Financial Analyst
Industry Experience: Since 1988
Previous Positions: Senior VP and Portfolio Manager, AGF Funds Inc.
Fund(s): TD Canadian Core Plus Bond Fund
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Bruce Cooper, CFA
Title: Managing Director
Education: BComm, Queen's University; MA, McGill University; Chartered Financial Analyst
Industry Experience: Since 1991
Previous Positions: Research with CIBC Wood Gundy, proprietary trading with Lancaster Financial
Fund(s): TD European Growth Fund; TD Japanese Growth Fund, TD Global Dividend Fund
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Charles Edwardes-Ker
Title: Vice President & Director
Education: Politics and Economics, Bristol University
Industry Experience: Since 1986
Previous Positions: Portfolio Manager, Sun Life Investment Management; Portfolio Manager, Lloyds Bank Investment Management; Head of Far East Desk, Singer and Friedlander Investment Management
Fund(s): TD Japanese Growth Fund, TD Global Sustainability Fund
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Craig Gaskin, CFA
Title: Managing Director
Education: BSc Civil Engineering and MBA, Queen's University, Chartered Financial Analyst
Industry Experience: Since 1995
Previous Positions: Equity Portfolio Management and Analysis, TD Quantitative Capital
Fund(s): TD International Index Fund, TD DJIA Index Fund, TD U.S. Index Fund, TD European Index Fund, TD Japanese Index Fund , TD Canadian Index Fund, TD Balanced Index Fund, TD Nasdaq Index Fund.
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Bruce Geddes, CFA
Title: Managing Director
Education: BComm, Carleton University, Chartered Financial Analyst, Registered Commodity Trading Manager
Industry Experience: Since 1995
Previous Positions: Analyst of financial institutions, Foreign Exchange Trader with a major Canadian bank
Fund(s): TD International Index Currency Neutral Fund, TD U.S. Index Currency Neutral Fund, TD Canadian Bond Index Fund
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Thomas George
Title: Vice President
Education: B. Environmental Engineering, University of Waterloo
Industry Experience: Since 2002
Previous Positions: Internship at Citibank
Fund(s): TD Global Sustainability Fund
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Les Grober, CFA
Title: Vice President & Director
Education: BA Economics, York University; MA Economics, Reading University; Chartered Financial Analyst
Industry Experience: Since 1994
Previous Positions: VP and Portfolio Manager Global Equities, Laketon Investment Management;Portfolio Manager US Equities, Manulife Financial
Fund(s): TD North American Dividend Fund, TD Global Dividend Fund
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Gregory Kocik, CFA
Title: Managing Director
Education: MBA, University of Western Ontario, Chartered Financial Analyst
Industry Experience: Since 1990
Previous Positions: Credit Analysis and Corporate Banking, Bank of Montreal
Fund(s): TD High Yield Income Fund, TD Monthly Income Fund
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Nicholas Leach, CFA
Title: Vice President
Education: Bachelor of Arts (Economics), University of Toronto
Industry Experience: Since 1998
Previous Positions: Credit/fixed income analyst positions with Clarica Life Insurance and Dynamic Mutual Funds
Fund(s): TD High Yield Income Fund, TD Corporate Bond Capital Yield Fund, TD Canadian Core Plus Bond Fund
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Kevin LeBlanc
Title: Vice Chair and Head of Investments
Education: MBA, University of Toronto; BBA, BSc. University of New Brunswick; Chartered Financial Analyst
Industry Experience: Since 1988
Fund(s): TD U.S. Quantitative Equity Fund
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Ari Levy, CFA
Title: Vice President & Director
Education: BA, Economics, BCL, LL.B and MBA, McGill University
Industry Experience: Since 1998
Previous Positions: Research Analyst for Goodman & Co. Investment Counsel, Senior Analyst for a major Canadian pension fund
Fund(s): TD Energy Fund, TD Resource Fund, TD Precious Metals Fund, TD Income Trust Capital Yield Fund
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Elaine Lindhorst
Title: Vice President
Education: MBA, University of Toronto; Masters in Biochemistry, Queen’s University
Industry Experience: Since 2001
Previous Positions: Money Market trader
Fund(s): All Money Market Funds
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Simone Loke
Title: Vice President & Director
Education: BA Accounting, University of Kent; MBA, New York University; Chartered Financial Analyst
Industry Experience: Since 1990
Previous Positions: Senior Equity Analyst, independent NY firm, other firms in NY, Toronto, Hong Kong
Fund(s): TD European Growth Fund
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Mike Lough, CFA
Title: Vice President & Director
Education: Bachelor of Commerce, Concordia University and MBA, University of Western Ontario
Industry Experience: Since 1994
Previous Positions: Portfolio Investments, Canada Trust
Fund(s): TD Dividend Income Fund, TD Dividend Growth Fund, TD Monthly Income, TD Income Trust Capital Yield Fund, TD Diversified Monthly Income Fund
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Scott Margach, CFA
Title: Vice President & Director
Education: B.Comm., Carleton University;
Chartered Financial Analyst
Industry Experience: Since 1991
Previous Positions: TD Harbour Capital
Fund(s): TD Canadian Equity Fund
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David McCulla, CFA
Title: Vice President & Director
Education: BA, Business, Brock University, Chartered Financial Analyst
Industry Experience: Since 1996
Fund(s): TD Mortgage Fund, TD Short Term Bond Fund, TD Global Bond Fund, TD Real Return Bond Fund
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Margot Naudie, CFA
Title: Managing Director
Education: BA Political Science and Economics, McGill University; MBA, University of Western Ontario, Chartered Financial Analyst
Previous Positions: Research Associate at two leading brokerage firms
Fund(s): TD Energy Fund, TD Precious Metals Fund, TD Resource Fund
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Eduardo Orfao
Title: Vice President
Education: Bachelor of Commerce, University of Toronto; Chartered Financial Analyst, Chartered Accountant, Commodity Trading Manager
Industry Experience: Since 1996
Previous Positions: Investment management, compliance and audit, TD Bank Financial Group
Fund(s): TD Canadian Bond Index Fund
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John Smolinski, CFA
Title: Managing Director
Education: BA Economics, York University, Chartered Financial Analyst
Industry Experience: Since 1990
Previous Positions: Portfolio Manager at Mackenzie Financial and Royal & Sun Alliance
Fund(s): TD Canadian Equity Fund
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David Sykes
Title: Vice President
Education: B.Comm. and BA, Saint Mary’s University; Rhodes Scholarship In 1994; MA in Politics, Philosophy and Economics, Oxford University; MSC in International Relations, London School of Economics; Chartered Financial Analyst
Industry Experience: Since 1999
Fund: TD North American Dividend Fund
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Rachel Volynsky, CFA
Title: Vice President and Director
Education: MBA, York University, Chartered Financial Analyst
Industry Experience: Since 1996
Previous Positions: Senior Analyst Ontario Teacher's Pension Plan, Investment Banking and Research Scotia McLeod
Fund(s): TD Canadian Value Fund
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Adam Wagstaffe
Title: Managing Director
Previous Positions: Chief Dealer Foreign Exchange, Manager FX and Money Market Japan, and Director Asset Liability Management, TD Bank Financial Group
Industry Experience: Since 1978
Fund(s): All Money Market Funds
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Doug Warwick, CFA
Title: Managing Director
Education: HBA Business Administration, University of Western Ontario, Chartered Financial Analyst
Industry Experience: Since 1980
Previous Positions: Investments and Trading, Bank of Nova Scotia
Fund(s): TD Dividend Growth Fund, TD Dividend Income Fund, TD Monthly Income Fund, TD Global Dividend Fund
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Geoff Wilson, CFA
Title: Managing Director
Education: BComm, McGill University, Chartered Financial Analyst
Industry Experience: Since 1990
Previous Positions: TD Treasury Group, Money Market area
Fund(s): TD Canadian Bond Fund, TD Real Return Bond Fund, TD Short Term Bond Fund, TD Global Bond Fund, TD Diversified Monthly Income Fund, TD Mortgage Fund, TD Corporate Bond Capital Yield Fund, TD Canadian Core Plus Bond Fund
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Adviser Reports
Real Audio Adviser Reports
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