Meritage Portfolios continue to hold TD Funds


August 18, 2014

TD Asset Management (TDAM) announced on June 13th that Satish Rai, Chief Investment Officer (CIO), will be retiring in January 2015. In his role as CIO, Satish oversaw all investment management for TD Asset Management. Bruce Cooper, the current Vice-Chair, Equities & Asset Allocation at TDAM will succeed to Satish as CIO.

Further to TD’s announcement, a due diligence review was initiated to asses the impact of this change on the TD funds held in Meritage Portfolios, namely the TD Canadian Bond Fund, the TD Ultra Short Term Bond Fund and the TD Short Term Bond Fund.

The conclusions of the report are that Meritage Portfolios will continue to hold TD Funds, whom new Chief Investment Officer is now Bruce Cooper. In effect, considering that Satish was no longer taking part in the day to day portfolio management, his departure shouldn’t have a meaningful impact on the portfolios. Further, during his tenure at TD, Satish has worked to assemble an impressive team of experienced fixed income portfolio managers who share the same investment philosophy and process for security selection and asset allocation.

Though we remain highly confident in TD’s fixed income capabilities, we will continue to closely monitor any changes to the investment process and portfolio management turnover.

The commitment of Meritage Portfolios has always been to offer the best blend of the best funds available in the industry. From over 5,000 funds available to investors, 24 were carefully selected based on their potential return, sustained performance over time and the synergy of their portfolio managers’ investment approaches.


About Meritage Portfolios®

Meritage Portfolios® (the "Portfolios") are managed by National Bank Investments Inc., a wholly owned subsidiary of National Bank of Canada. Commissions, trailing commissions, management fees and expenses all may be associated with investments in the Portfolios. Please read the prospectus of the Portfolios before investing. The Portfolios' securities are not insured by the Canada Deposit Insurance Corporation or by any other government deposit insurer. The portfolios are not guaranteed, their values change frequently and past performance may not be repeated. "Meritage Portfolios®" and the Meritage Portfolios logo are trade-marks of National Bank of Canada, used under license by National Bank Investments Inc.