Aug. 29, 2003 — TD Waterhouse Trust agreed to liquidate the TD Waterhouse Technology Fund (TDTCX) and the TD Waterhouse Tax Managed Growth Fund (TDTAX), according to an SEC filing dated August 27.
The company attributed the action to “the small size of the funds, the effect of that small asset base on the efficiency of Fund operations and the future growth prospects for the Funds.”
The funds are expected to be liquidated on September 30, 2003, or soon thereafter. Both funds were subadvised by T. Rowe Price Associates.
Year to date through July, the Technology fund gained 28%, while the Tax-Managed fund rose 15.9%.
With just under three years of operating history, the funds were too new to be ranked by Standard & Poor’s.