TD ASSET MANAGEMENT INC.Overview
TD Mutual Funds Advised
Investment Philosophy
Management Team
Adviser Reports 
OverviewTD Asset Management is a North American investment manager offering progressive investment solutions to both institutional and individual investors. For over two decades, our organization has established competitive market positions in active, quantitative and passive portfolio management. We have expanded our offering to include alternative investments and customized portfolio integration services such as transition management, rebalancing and overlay. TD Asset Management seeks to provide its clients with optimal risk-adjusted returns. We believe our clients benefit from our philosophy of continually searching for market inefficiencies through a process of rigorous analysis and highly evolved portfolio construction. Our understanding of our clients' needs helps ensure that our services remain relevant and that we strive to deliver consistent results. We offer a diversified and experienced investment management and research team of more than 70 portfolio managers, associate portfolio managers, analysts and traders. Our team approach to portfolio management enables us to leverage the expertise of all team members, capitalizing on their knowledge and ideas. Members with expertise in fixed income and equities, specializing in different industries and countries, come together to discuss and debate the pertinent issues affecting the markets and funds. In sharing research and knowledge, our team develops a broader and deeper understanding of markets and companies, which we believe benefits all the investment strategies we manage. TD Asset Management operates in the United States as TDAM USA Inc. and in Canada as TD Asset Management Inc., both of which are wholly-owned subsidiaries of The Toronto-Dominion Bank ("TD Bank"), one of North America's strongest banks and one of only a few banks in North America that retains a rating of Aaa for credit risk by Moody's.
TD Mutual Funds AdvisedClick here for fund profiles
Investment PhilosophyActive Fundamental Fixed Income and Equity ManagementOur 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 ManagementOur 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
TD Asset Management Inc. | | |  | Satish Rai, CFA Title: Chief Investment Officer (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 | | |  | Craig Bethune, CFA Title: Vice President & Director Education: MBA, 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 | | |  | Vishal Bhatia, CFA Title: Vice President & Director 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, TD Nasdaq Index Fund | | |  | Dino Bourdos, CFA Title: Managing 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 Inc. Fund(s): TD Balanced Index Fund, TD International Currency Neutral Fund, TD U.S. Index Currency Neutral Fund, TD U.S. Large Cap Value Currency Neutral Fund, TD U.S. Equity Currency Neutral Portfolio | | |  | Olga Bylaard, CFA Title: Vice President & Director Education: BA (Hons) Economics, Queen's University, Chartered Financial Analyst Industry Experience: Since 1997 Previous Positions: Portfolio Manager for TDAM, Money Market; Money Market Trader for TDAM, Senior Investment Analyst with Sun Life Financial and Research Analyst for Bank of Montreal's Economics Department. Fund(s): TD Short Term Bond Fund, TD Mortgage Fund | | |  | Wilcox Chan, CFA Title: Vice President & Director Education: Master of Engineering, University of London, UK; MBA, York University; Chartered Financial Analyst; Chartered Alternative Investment AnalystSM Industry Experience: Since 2000 Previous Positions: Senior Manager, Bank of Nova Scotia Fund(s): TD U.S. Quantitative Equity Fund | | |  | Anish Chopra, CA, CFA Title: Managing Director Education: Masters of Accounting and Honours BA, University of Waterloo Chartered Accountan; Chartered Financial Analyst Industry Experience: Since 1996 Previous Positions: Managed proprietary funds within TDAM; Worked on numerous mergers, acquisition and divestiture assignments for TD Securities. Fund(s): TD Canadian Value Fund, TD Target Return Conservative Fund, TD Target Return Balanced Fund | | |  | Bruce Cooper, CFA Title: Vice Chair Education: BComm, Queen's University; MA, McGill University; Chartered Financial Analyst Industry Experience: Since 1991 Previous Positions: Equity Research with CIBC Wood Gundy; Proprietary Trading with Lancaster Financial Fund(s):TD Global Dividend Fund | | |  | Glenn Davis, CFA Title: Managing Director Education: B.A. Economics, Colby College; MBA, Hofstra University; Chartered Financial Analyst Industry Experience: Since 1981 Previous Positions: Managed fixed income investments for State Street Global Advisors, Boston Partners Asset Management, LLC and Freedom Capital Management; Senior Vice President and Chief Investment Strategist and Head of Fixed Income, TD Banknorth Wealth Management Fund(s): TD U.S. Monthly Income Fund | | |  | 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 | | |  | Justin Flowerday, CFA Title: Vice President & Director Education: B Comm, McGill University; MBA, University of London; Chartered Financial Analyst Industry Experience: Since 1999 Previous Positions: Research Analyst, TD Private Investment Council Fund(s): TD North American Dividend Fund | | |  | Thomas George, CFA Title: Vice President Education: B. Environmental Engineering, University of Waterloo; Chartered Financial Analyst Industry Experience: Since 2002 Previous Positions: Analyst with Portfolio Analytics, TD Asset Management Fund(s): TD Global Sustainability Fund | | |  | Les Grober, CFA Title: Managing 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 Balanced Growth Fund | | |  | Michelle Hegeman, CA, CFA Title: Vice President Education: BA, Political Science and Economics, University of Western Ontario; Chartered Financial Analyst, Chartered Accountant Industry Experience: Since 1991 Previous Positions: Analyst and Portfolio Manager, TAL Global Asset Management Fund(s): TD Canadian Bond Index Fund | | |  | 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 Bond Fund, TD Monthly Income Fund | | |  | Nicholas Leach, CFA Title: Vice President & Director Education: BA Economics, University of Toronto; Chartered Financial Analyst Industry Experience: Since 1998 Previous Positions: Credit and fixed income analyst, Clarica Life Insurance and Dynamic Mutual Funds Fund(s): TD High Yield Bond Fund, TD Corporate Bond Capital Yield Fund, TD Canadian Core Plus Bond Fund | | |  | Ari Levy, CFA Title: Vice President & Director Education: BA, Economics, BCL, LL.B and MBA, McGill University; Chartered Financial Analyst 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 Canadian Equity Fund | | |  | Elaine Lindhorst, CFA Title: Vice President & Director Education: MBA, University of Toronto; Masters in Biochemistry, Queen's University; Chartered Financial Analyst Industry Experience: Since 2001 Previous Positions: Money Market trader Fund(s): All Money Market Funds, TD Ultra Short Term Bond Fund | | |  | Simone Loke, CFA 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 | | |  | Mike Lough, CFA Title: Vice President & Director Education: B Comm, Finance, Concordia University; MBA, University of Western Ontario; Chartered Financial Analyst Industry Experience: Since 1994 Previous Positions: Manager, Portfolio Investments, Canada Trust Fund(s): TD Dividend Income Fund, TD Dividend Growth Fund, TD Monthly Income Fund, TD Diversified Monthly Income Fund | | |  | David Mau, CFA Title: Vice President Education: MBA, Richard Ivey School of Business, Chartered Financial Analyst Industry Experience: Since 1999 Previous Positions: Analyst in the leveraged finance area with TCW Group Fund(s): TD Japanese Growth Fund | | |  | David McCulla, CFA Title: Vice President & Director Education: BA, Business, Brock University; Chartered Financial Analyst Industry Experience: Since 1996 Previous Positions: Assistant Portfolio Manager, Canada Trust Investment Management Group Fund(s): TD Mortgage Fund, TD Short Term Bond Fund, TD Global Bond Fund, TD Real Return Bond Fund, TD Ultra Short Term Bond Fund | | | |
| |  | Michael O'Brien, CFA Title: Vice President & Director Education: BA, Political Science, Yale University; MA Political Science, Dalhousie University; Chartered Financial Analyst Industry Experience: Since 1997 Previous Positions: Assistant to the Economist, Analyst, TD Asset Management Fund(s): TD Canadian Blue Chip Equity Fund | | |  | Diana Racanelli, CFA Title: Vice President Education: BA (Hons), Economics and English, University of Toronto; Chartered Financial Analyst Industry Experience: Since 1993 Previous Positions: VP Canadian Equities, CIBC Global Asset Management; Senior Analyst, AIC Limited; Base Metals Mining Analyst, Scotia Capital Markets; Base Metals Research Associate, Burns Fry Limited Fund(s): TD Resource Fund, TD Energy Fund, TD Canadian Blue Chip Equity Fund, TD Precious Metals Fund | | |  | John Smolinski, CFA Title: Managing Director Education: BA Economics, York University; Chartered Financial Analyst Industry Experience: Since 1990 Previous Positions: Portfolio Manager, Mackenzie Financial and Royal & Sun Alliance Fund(s): TD Canadian Equity Fund, TD Balanced Growth Fund | | |  | David Sykes, CFA Title: Vice President & Director 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(s): TD North American Dividend Fund, TD Global Dividend Fund, TD U.S. Monthly Income Fund | | |  | Dino Vevaina, CFA Title: Associate Education: Honours BA, Specialist of Management, University of Toronto; Chartered Financial Analyst Industry Experience: Since 2001 Previous Positions: Worked in Corporate Loan Trading and Credit Derivatives, TD Securities; Repo Trading Analyst, Scotia Capital Fund(s): TD Canadian Index; TD Dow Jones Industrial Average Index; TD European Index; TD International Index; TD Japanese Index; TD Nasdaq Index, and TD U.S. Index Funds | | |  | 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 | | |  | 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 Diversified Monthly Income Fund, TD Corporate Bond Capital Yield Fund, TD Canadian Core Plus Bond Fund, TD Monthly Income Fund, TD Dividend Income Fund, TD U.S. Monthly Income Fund, TD Managed Assets Program, TD Comfort Portfolios, TD Advantage Investment Portfolios | | |  | Carrie Yakimovich Title:Vice President Education: Honours BA, University of Western Ontario (Ivey); Chartered Financial Analyst Industry Experience: Since 2001 Previous Positions: Associate, TD Securities in New York Fund(s): TD European Growth Fund |
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