TORONTO, Jan. 26,
2023 /CNW/ - TD Asset Management Inc. ("TDAM") today
announced notional non-cash reinvested distributions (each, a
"Notional Distribution") for the TD Global Carbon Credit Index ETF
(the "TD ETF"). A Notional Distribution occurs when a distribution
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 the TD ETF as indicated in the table below:
TD Global Carbon Credit
TD Global Carbon Credit
Up until November 30, 2022, the TD
ETF did not qualify as a mutual fund trust under the Income Tax Act
(Canada) (the "Tax Act"). The TD
ETF was considered a unit trust, as such term is defined under the
Tax Act. For purposes of the "mark-to-market" rules contained
in the Tax Act, and because more than 50% of the market value of
the TD ETF was held by one or more financial institutions, it was
determined that as at the record date indicated above and was now
considered a financial institution, as such a term is defined under
the Tax Act.
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 ETF was required to recognize a deemed year-end for tax
purposes and distribute any net income and net realized capital
gains earned or realized by the TD ETF up until the deemed year end
(reflected by the record date indicated above).
In early 2023, the tax characteristics of all distributions for
2022 for the TD ETF will be reported to brokers via the Canadian
Depository for Securities (CDS).
For more information regarding TD ETFs, visit
Commissions, management fees and expenses all may be associated
with investments in exchange-traded funds (ETFs). Please read the
prospectus and ETF Facts 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. The TD
Global Carbon Credit Index ETF ("TD ETF") is not sponsored,
promoted, sold or supported in any other manner by Solactive AG nor
does Solactive AG offer any express or implicit guarantee or
assurance either with regard to the results of using the Solactive
Global Carbon Credit TR CAD Hedged Index ("Index") and/or any
trademark(s) associated with the Index or the price of the Index at
any time or in any other respect. The Index is calculated and
published by Solactive AG. Solactive AG uses its best efforts to
ensure that the Index is calculated correctly. Irrespective of its
obligations towards TDAM, Solactive AG has no obligation to point
out errors in the Index to third parties including but not limited
to investors and/or financial intermediaries of the TD ETF. Neither
publication of the Index by Solactive AG nor the licensing of the
Index or any trademark(s) associated with the Index for the purpose
of use in connection with the TD ETF constitutes a recommendation
by Solactive AG to invest capital in said TD ETF nor does it in any
way represent an assurance or opinion of Solactive AG with regard
to any investment in this TD ETF.
TD ETFs are managed by TD Asset Management Inc., a wholly-owned
subsidiary of The Toronto-Dominion Bank.
® The TD logo and other TD trademarks are the property of The
Toronto-Dominion Bank or its subsidiaries.
About TD Asset Management Inc.
TD Asset Management Inc. ("TDAM"), a member of TD Bank Group, is
a North American investment management firm. 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 $398 billion in
assets. Aggregate statistics are as of September 30,
2022 for TDAM and Epoch Investment Partners, Inc. TDAM
operates in Canada and Epoch Investment Partners, Inc.
operates in the United
States. Both entities are affiliates and are wholly-owned
subsidiaries of The Toronto-Dominion Bank.
SOURCE TD Asset Management Inc.