2003 Annual Report
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Schedule K - TD Asset Management Annual Report and Budget
June 5, 2003
TD Asset Management Inc.
Quantitative Capital
Canada Trust Tower
161 Bay Street, 34th Floor
Toronto, Ontario M5J 2T2
Ms. Bonnie Tough
1986-1990 Hepatitis C Settlement Agreement Trust Fund
c/o Hodgson Tough Shields DesBrisay O’Donnell
Barristers & Solicitors
Suite 550, 36 Toronto Street
Toronto, Ontario
M5C 2C5
Dear Ms. Tough,
Please find a summary of the expenses for the year commencing
April 1, 2002 and ending March 31, 2003 for the three 1986-1990
Hepatitis C Settlement Trust Fund accounts. You will also
find a proposed budget for the year April 1, 2003 to March
31, 2004 and an update on TD Asset Management’s activity
over the past year.
1. Total fees charged (including tax) to the Fund for the
past year were as follows:
|
Account
code
|
Account Name
|
Quarter End
June 2002
|
Quarter End
September 2002
|
Quarter End
December 2002
|
Quarter End
March 2003
|
| E5050 |
1986-90 Hepatitis C STF - Real |
6,701.78
|
7,123.72
|
7,242,50
|
7,377.43
|
| E5060 |
1986-90 Hepatitis C STF – ST Bonds |
21,271.53
|
20,353.24
|
18,535.37
|
17,868.99
|
| E5065 |
1986-90 Hepatitis C STF - Other |
19,754.84
|
18,989.37
|
19,359.03
|
18,496.62
|
| Total |
|
$47,728.15
|
$46,466.33
|
$45,136.90
|
$43,743.04
|
Total fees charged for the past year were $183,074.42 and
were within the budget set out for the year.
2. Our estimate of the total projected fees to be charged
from April 1, 2003 to March 31, 2004 is $225,000.00. Please
be aware that the fees are based on the daily market value
of the assets under management. The fees vary directly with
market fluctuations and cannot be accurately predicted.
3. Update on TD Asset Management
TD Quantitative Capital is a division of TD Asset Management
Inc., a wholly-owned subsidiary of The Toronto-Dominion Bank.
We specialize in indexed and quantitative investment management
across all major asset classes, with over $45 billion in assets
under management. As Canada’s pre-eminent indexer, TDQC
has been setting the standard of passive and quantitative
management in Canada. Strong and consistent performance, financial
stability, competitive pricing and excellent servicing are
the qualities that TD Quantitative Capital offers in the management
of the 1986-1990 Hepatitis C Settlement Trust Fund accounts.
Client service has been delivered to 1986-1990 Hepatitis
C Settlement Trust Fund accordingly.
Daily
- Invest and monitor the assets of 1986-1990 Hepatitis
C Settlement Trust Fund; and
- Reconcile cash.
Monthly
- TDQC provides portfolio reports detailing investment
holdings and transactions; and
- TDQC provides performance reports detailing the returns
on portfolio investments.
Quarterly
- TDQC provides quarterly compliance certificate detailing
that we are in compliance with the investment policies and
goals of 1986-1990 Hepatitis C Settlement Trust Fund;
- TDQC provides 1986-1990 Hepatitis C Settlement Trust
Fund with our quarterly updates and quarterly economic commentary
and;
- TDQC provides 1986-1990 Hepatitis C Settlement Trust
Fund with a review of any significant developments in the
capital markets (e.g. changes to the S&P/TSX Composite
Index).
Annually
- TDQC provides audited pooled funds and mutual funds financial
statements;
- TDQC provides audited S5900 report detailing our risk
and controls systems; and
- TDQC provides the 1986-1990 Hepatitis C Settlement Trust
Fund Investment Committee with an annual update.
In addition, TDQC provides 1986-1990 Hepatitis C Settlement
Trust Fund with unscheduled periodic updates on matters pertinent
to all clients.
Please contact me if you have any questions or require further
information. I can be reached at (416) 308-9908. Alternatively,
Debbie Fong can be contacted at (416) 308-4131
Sincerely yours,
Anthony Haynes
Associate, Marketing and Client Services
Cc Debbie Fong, TDQC
Bruce Geddes, TDQC
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