New Index Funds Offer No Transaction Fee and Low Expenses
NEW YORK, Oct. 4 /PRNewswire/ -- TD Waterhouse Group, Inc.
(NYSE: TWE; TSE), the global online financial services firm, today announced
the launch of seven new funds for U.S. customers. The new proprietary funds
are the TD Waterhouse Technology Fund, the TD Waterhouse Tax Managed Growth
Fund, the TD Waterhouse Bond Index Fund, the TD Waterhouse 500 Index Fund, the
TD Waterhouse Extended Market Index Fund, the TD Waterhouse Asian Index Fund
and the TD Waterhouse European Index Fund.
These Funds will be sold only through TD Waterhouse and have no
transaction fee. The minimum initial investment in these funds is $1,000 and
$100 subsequently. T. Rowe Price Associates, Inc., one of the nation's
leading providers of no-load funds, will actively manage two of the funds, the
TD Waterhouse Technology Fund and the TD Waterhouse Tax Managed Growth Fund.
"Based on customer demand, we are offering seven new funds to the TD
Waterhouse Mutual Fund Network," said Peter Mangan, Chief Operating Officer of
Mutual Funds at TD Waterhouse Group, Inc. "These seven funds encompass various
market sectors and asset classes, offering investors the potential to hold a
diversified portfolio of TD Waterhouse mutual funds. The addition of these
seven new funds also helps us to provide investors with products that may meet
their financial goals."
Among the specifics of each Fund:
-- The TD Waterhouse Technology Fund seeks enhanced performance over a
benchmark index that measures the investment return of technology
stocks, before the deduction of Fund expenses. Net expenses are 1.25%.
-- The TD Waterhouse Tax Managed Growth Fund seeks long-term capital
appreciation while minimizing taxable distributions to shareholders.
Net expenses are 1.10%.
-- The TD Waterhouse Bond Index Fund seeks to track closely the total
return of a broad, market-weighted bond index, before the deduction of
Fund expenses. Net expenses are 0.35%.
-- The TD Waterhouse 500 Index Fund seeks to track closely the total
return of a benchmark index that measures the investment return of
large-capitalization stocks, before the deduction of Fund expenses.
Net expenses are 0.35%.
-- The TD Waterhouse Extended Market Index Fund seeks to track closely the
total return of a benchmark index that measures the investment return
of mid- and small-capitalization stocks, before the deduction of Fund
expenses. Net expenses are 0.40%.
-- The TD Waterhouse Asian Index Fund seeks to track the total return of a
benchmark index that measures the investment return of stocks of
Pacific Basin companies, before the deduction of Fund expenses. Net
expenses are 0.58%.
-- The TD Waterhouse European Index Fund seeks to track closely the total
return of a benchmark index that measures the investment return of
stocks of European companies, before the deduction of Fund expenses.
Net expenses are 0.58%.
"Competitively, these are among the lowest cost index funds available and
they are the lowest priced index funds in our no transaction fee (NTF)
network," said Mr. Mangan. "At TD Waterhouse, our goal is to offer customers
a wide array of products and services to help them meet their financial
needs."
TD Waterhouse also offers a preferred fund list and a Portfolio Planner
online to assist those who are unfamiliar with the vast array of mutual funds
available to them. These tools can assist customers in choosing which mutual
funds are right for them based on their investment objectives.
The firm currently offers over 10,000 mutual funds from over 500 fund
families, including over 1,400 in its NTF program.
Text-only versions of the Funds' prospectus and more information can be
viewed online by visiting http://www.tdwaterhouse.com, and clicking on Mutual
Fund Network, by calling one of the firm's customer relationship officers at
800-934-4448, or by visiting one of the over 170 TD Waterhouse branches
nationwide.
TD Waterhouse Group, Inc., (NYSE: TWE), also known as "TD Waterhouse,"
provides investors with a broad range of brokerage, mutual fund, banking and
other consumer financial products on an integrated basis. In the United
States, TD Waterhouse is the only online discount broker to have a retail
branch in all 50 states. Worldwide, TD Waterhouse currently services
4.2 million customer accounts in the United States, Canada, the United
Kingdom, Australia, Hong Kong, Japan and India. TD Waterhouse can be found on
the Internet at http://www.tdwaterhouse.com and on America Online at Keyword:
TD Waterhouse. In the U.S., brokerage services are provided by TD Waterhouse
Investor Services Inc., Member NYSE/SIPC.
SOURCE TD Waterhouse Group, Inc.
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Related links:
http://www.tdwaterhouse.com
Company News On-Call:
http://www.prnewswire.com/comp/959635.html or fax,
800-758-5804, ext. 959635
CONTACT:
Melissa Fox, Manager, Public Affairs, of TD
Waterhouse Group, Inc., 212-806-3101, melissafox@tdwaterhouse.com
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