TULV TD Q US Low Volatility ETF

TORONTO, Dec. 16, 2020 /CNW/ - TD Asset Management Inc. ("TDAM") today announced notional non-cash reinvested distributions (each, a "Notional Distribution") for certain TD Exchange-Traded Funds listed below (collectively, the "TD ETFs"). A Notional Distribution occurs when a distribution from a TD ETF is made in the form of units, and then immediately consolidated with the units held prior to the distribution, so that the total number of units held after the distribution is identical to the number of units held prior to the distribution.  

The Notional Distributions have been made to all unitholders of record of each TD ETF as at the record date indicated below:

Up until the respective record date indicated above, each TD ETF did not qualify as a mutual fund trust under the Income Tax Act (Canada) (the "Tax Act"). Each TD ETF was considered a financial institution, as such term is defined under the Tax Act, for purposes of the "mark-to-market" rules contained in the Tax Act because more than 50% of the market value of each TD ETF was held by one or more financial institutions. It was determined that, as at each respective record date indicated above, the TD ETFs no longer had more than 50% of their market value held by one or more financial institutions and were no longer considered financial institutions.

The Tax Act contains special rules for determining the income of financial institutions, including, but not limited to, the realization of all unrealized gains or losses on mark-to-market property held by the financial institution on income account at the end of any given tax year. In acknowledging this change of status, the TD ETFs were required to recognize a deemed year-end for tax purposes and distribute any net income and net realized capital gains earned or realized by each TD ETF up until the deemed year end (reflected by each record date indicated above).

In early 2021, the tax characteristics of all distributions for 2020 for the TD ETFs will be reported to brokers via the Canadian Depository for Securities (CDS).

For more information regarding TD ETFs, visit TDAssetManagement.com

Commissions, management fees and expenses all may be associated with investments in exchange-traded funds (ETFs). Please read the prospectus and summary document(s) before investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. ETF units are bought and sold at market price on a stock exchange and brokerage commissions will reduce returns.

TD ETFs are managed by TD Asset Management Inc., a wholly-owned subsidiary of The Toronto-Dominion Bank.

® The TD logo and other trademarks are the property of The Toronto-Dominion Bank or its subsidiaries.

About TD Asset Management Inc.

TD Asset Management (TDAM), a member of TD Bank Group, is a North American investment management firm. Operating through TD Asset Management Inc. in Canada and TDAM USA Inc. in the U.S., TDAM brings new thinking to investors' most important challenges. TDAM offers investment solutions to corporations, pension funds, endowments, foundations and individual investors. Additionally, TDAM manages assets on behalf of almost 2 million retail investors and offers a broadly diversified suite of investment solutions including mutual funds, professionally managed portfolios and corporate class funds. Asset management businesses at TD manage $396 billion in assets as at September 30, 2020. Assets under management include TD Asset Management Inc., TDAM USA Inc. and Epoch Investment Partners Inc. (Epoch). All entities are wholly-owned subsidiaries of The Toronto-Dominion Bank.

SOURCE TD Asset Management Inc.