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Weekly Fund Feature

TD Canadian Index Fund - I

Based on September 30, 2006 results.

Fund Profile
The fund seeks long-term capital growth by tracking the performance of a generally recognized Canadian equity market index. Portfolio management has been entrusted to Terry Horaski since 01/09/1985.


Performance rating: ttt
Risk rating: tt
Cost rating: ttttt
Composite rating: tttt

Family
The fund is sponsored by TD Asset Management. As a member of the TD Bank Financial Group, TD Asset Management is a global investment management firm, serving a large and diversified client base, including pension funds, corporations, institutions, endowments, foundations and individual investors. The firm manages retail mutual funds in Canada and around the world.



Historical Performance
Performance has been typical of an index fund's. As reflected in the accompanying exhibits, the fund has moved in tandem with the Index. The broad Canadian market has been fuelled by the recent commodity boom and the overall strength of its financial sector.

 

 

Looking forward, the outlook for Canadian equities has become mixed at best. The financial sector, which currently has the highest index weighting (approximately 35% of the total portfolio) has overcome the recent uncertainty with respect to interest rates. This positive development will be counter-balanced by a possible setback in energy and commodity-based stocks, due to slower economic growth. 



Risk factors

The fund offers little protection during market downturns, albeit its standard deviation has been peer-comparable in the past 3 years. Beta and R-Squared are constantly at the 100% mark, reflecting near-perfect correlation with the Index.


 

Portfolio valuation and potential
The portfolio valuation multiples are market comparable.

 High Low
 P/E RATIOS
High
     
 X 
     
Yields
Low
 VALUATION MATRIX

Cost
The fund's cost structure is good. A no load fund, its MER is much lower than the peer average, albeit it looks high when compared to the MER of other Canadian equity index funds with similar mandates (0.3-0.5%). However, internet savvy investors can buy the twin fund, TD Canadian Index -e which has a 0.3% MER.

 

Source: Sponsor and Fundata Canada Inc.  Ratings, graphs and schedules are based on September 30, 2006 results. This publication (Mutual Fund Summary Report) is a copyright of FundScope Limited. The information provided in this report is compiled from the above and other sources which are believed to be accurate.  FundScope has analyzed the information and produced the results in good faith, but will not take any responsibility for errors, omissions or misrepresentations.  FundScope Limited does not provide investment advice.  Important information is available in mutual funds' prospectuses.  Investors are strongly advised to conduct their own proper due diligence prior to making any investment decisions.