Because the TD Private Bond Capital Yield Fund employs these transactions, TD Asset Management Inc. (TDAM) has made the decision to protect existing unitholders and no longer accept additional investments to this Fund as of the close of business Friday, April 5, 2013.
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Although TDAM is seeking further clarification from the federal government regarding the budget measures, it appears that increasing the size of existing character conversion transactions is not permitted. For existing unitholders we believe there will be no change in tax treatment for a minimum of 180 days from March 21, 2013 and as a result of this change there is no reason to redeem their units.
