Institutional Funds

Investment Strategy

The Fund seeks to achieve a high rate of interest income and long-term performance in excess of the benchmark through TD Asset Management Inc.'s (TDAM) active fundamental fixed income approach. The Fund expands its investments beyond the longer maturity Canadian bond universe to global and non-investment grade bonds to seek incremental value over the long term.

TDAM's active fundamental fixed income philosophy is grounded in an established set of guiding principles that stress extensive independent credit research and sound yield and credit curve analysis. TDAM believes that applying this approach through a highly disciplined portfolio construction methodology is the most predictable way to help generate competitive risk-adjusted returns when measured against any given benchmark.

Investment Objective

The Fund's performance objective is to outperform the FTSE TMX Canada Long Term Overall Bond Index by 0.75% over the long-term.

Who Should Invest

The Fund is designed for institutional investors who wish to achieve long-term performance in excess of the FTSE Canada Long Term Overall Bond Index through active fundamental fixed income management.

Fund Facts

Asset Class	Long Fixed Income
Management Philosophy	Active Fundamental
Inception Date	September 24, 2015
Benchmark	FTSE Canada Long Term Overall Bond Index

Details

NAV($) / Yield (%)	10.4769 (As of January 20, 2021)
Distribution Date	December 31, 2020
Income Distribution	0.3489
Capital Distribution	0.4585
Total Distribution	0.8074
AUM (in millions)	713.84 (As of December 31, 2020)
Distribution Frequency	Annual

Performance

	1 M	3 M	YTD	1 Y	2 Y	3 Y	4 Y	5 Y	10 Y	Since Inception
Fund	0.59	1.55	10.91	10.91	12.63	8.07	7.70	7.07	-	6.93
Benchmark	0.37	0.82	11.90	11.90	12.30	8.15	7.87	6.77	-	6.67

Note: Fund performance is before fees but after expenses

Yearly Performance

	2019	2018	2017	2016	2015
Fund	14.38	-0.50	6.59	4.61	-
Benchmark	12.71	0.31	7.03	2.47	-