Bloomberg writes "Toronto Dominion Can Bolster a Money-Market Fund, SEC Says"

Jan 05 08

Bloomberg writes "Toronto Dominion Can Bolster a Money-Market Fund, SEC Says". TD Asset Management apparently has "received regulators' approval to buy $300 million in mortgage-linked securities out of one its money-market funds", reports Jesse Westbrook. The advisor received a "no-action" letter from the SEC on Dec. 21 to purchase "trust certificates, issued by Corsair Trust I-1020" says the article. It adds, "Corsair is a limited-purpose finance company, similar to a structured investment vehicle, TDAM spokeswoman Lisa Hodgins said. The trust certificates, which included a credit-default swap, were a 'non-material holding' for the TDAM Money Market Portfolio."

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