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Share Name | Share Symbol | Market | Type |
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Preferred Plus Trust Ser Qws 2 TR Ctf Preferred Plus Trust Ser Qws 2 TR Ctf Pfd | NYSE:PJA | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 24.90 | 0.00 | 01:00:00 |
February 28, 2014
TD Asset Management USA Funds Inc.
TDAM Money Market Portfolio
Class A (TDAXX)
Select Class (TDSXX)
Before you invest, you may want to review the Funds prospectus, which contains more information about the Fund and its risks. You can find the Funds prospectus (including amendments and supplements) and other information about the Fund, including the Funds statement of additional information and shareholder report, online at www.tdamusa.com/Individual_Fund_Documents. You can also get this information at no cost by calling 1-866-414-6349 or by sending an e-mail request to orders@mysummaryprospectus.com, or from your financial intermediary. The Funds prospectus and statement of additional information, both dated February 28, 2014, as further amended and supplemented from time to time, are incorporated by reference into (legally made a part of) this summary prospectus. |
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As with any mutual fund, the Securities and Exchange Commission (SEC) has not approved or disapproved the shares or determined whether this summary prospectus is adequate or complete. Any representation to the contrary is a criminal offense. | ||
NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE
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® The TD logo and other trade-marks are the property of The Toronto-Dominion Bank. |
The TDAM Money Market Portfolio (the Money Market Portfolio) seeks maximum current income to the extent consistent with liquidity and preservation of capital and a stable price of $1.00 per share.
This table describes the fees and expenses that you may pay if you buy and hold shares of the Money Market Portfolio.
Class A | Select Class | |||||||||||||||
Shareholder Fees
(fees paid directly from your investment) |
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Maximum Sales Charge (Load) Imposed on Purchases
(as a percentage of offering price) |
None | None | ||||||||||||||
Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment) |
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Management Fees | 0.09 | % | 0.09 | % | ||||||||||||
Distribution (12b-1) Fees | 0.53 | % | 0.33 | % | ||||||||||||
Other Expenses | ||||||||||||||||
Shareholder Servicing Fees | 0.25 | % | 0.05 | % | ||||||||||||
All Other Expenses | 0.16 | % | 0.16 | % | ||||||||||||
Total Other Expenses | 0.41 | % | 0.21 | % | ||||||||||||
Total Annual Portfolio Operating Expenses | 1.03 | % | 0.63 | % |
This Example is intended to help you compare the cost of investing in the Money Market Portfolio with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Money Market Portfolio for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Money Market Portfolios operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
1 Year | 3 Years | 5 Years | 10 Years | |||||||||||||
Class A | $ | 105 | $ | 328 | $ | 569 | $ | 1,259 | ||||||||
Select Class | $ | 64 | $ | 202 | $ | 351 | $ | 786 |
The Money Market Portfolio is a money market fund. The Money Market Portfolio invests in high quality money market securities that the Money Market Portfolios investment manager, TDAM USA Inc. (the Investment Manager or TDAM), believes present minimal credit risk. To be considered high-quality, a security generally must be rated in one of the two highest credit-quality categories for short-term securities by at least two nationally recognized rating services (or by one, if only one rating service has rated the security). If unrated, the security must be determined by the Investment Manager to be of quality equivalent to securities in the two highest credit-quality categories.
Generally, money market securities are short-term debt obligations issued by banks, corporations or governments. Money market securities may be backed by loans, receivables or other assets or may be unsecured, and may include repurchase agreements.
The Money Market Portfolio invests in a broad spectrum of high quality U.S. dollar-denominated money market instruments. The Money Market Portfolios investments may include obligations issued by, or guaranteed by, U.S. or foreign governments, their agencies or instrumentalities, bank obligations, and corporate debt obligations of U.S. and foreign issuers, as well as repurchase agreements and other money market instruments. The Money Market Portfolio may also invest in short-term, high quality obligations issued or guaranteed by states, territories and possessions of the United States and the District of Columbia and their political subdivisions, agencies and instrumentalities (municipal
securities). The municipal securities in which the Money Market Portfolio may invest include variable rate demand notes (VRDNs), which are obligations that contain a floating or variable interest rate adjustment formula and an unconditional right of demand to receive payment of the unpaid principal balance plus accrued interest upon a short notice period, generally not to exceed seven days. Although the income from many municipal securities is exempt from regular federal income tax, the Money Market Portfolio may invest in taxable municipal securities. The Money Market Portfolio does not anticipate that its investments in tax-exempt municipal securities will reach the level required by applicable law to permit it to make distributions to shareholders that are, in whole or in part, exempt from regular federal income tax. The Money Market Portfolio also invests in asset-backed securities and asset-backed commercial paper (collectively, asset-backed securities). Such securities directly or indirectly represent a participation interest in, or are secured by and are payable from, a stream of payments generated from particular assets, such as automobile and credit card receivables and home equity loans or other asset-backed securities collateralized by those assets. The credit quality of asset-backed securities purchased by the Money Market Portfolio is often improved in comparison to that of the underlying loans or receivables through credit enhancement and liquidity enhancement mechanisms. Forms of enhancement include letters of credit, surety bond guarantees, overcollateralization, excess spread protection, subordination of other classes of debt, early amortization and cash reserve accounts. Most programs utilize some or all of these forms of enhancement.
Interest Rate Risk The income from the Money Market Portfolio will vary with changes in prevailing interest rates.
Credit Risk Fixed income investments involve credit risk. This is the risk that the issuer or credit enhancer will be unable, or will be perceived to be unable, to repay its coupon or maturity in full on a timely basis.
Prepayment Risk Prepayment risk is the risk that the ability of an issuer of a debt security to repay principal prior to a securitys maturity can cause greater price volatility if interest rates change. Such prepayments often occur during periods of declining interest rates, and may cause the Money Market Portfolio to reinvest assets in lower yielding securities.
Municipal Securities Risk Municipal securities can be significantly affected by unfavorable economic, legislative or political developments and adverse changes in the financial conditions of issuers. Liquidity in the municipal securities market can be reduced unpredictably in response to overall economic conditions or credit tightening.
Asset-Backed Securities Risk The value of asset-backed securities may be affected by the credit risk of the servicing agent for the pool, the originator of the loans or receivables, or the financial institution(s) providing the credit support. In addition to credit risk, asset-backed securities and other securities with early redemption features are subject to prepayment risk. During periods of declining interest rates, prepayment of loans underlying asset-backed securities can be expected to accelerate or an issuer may retire an outstanding bond early to reduce interest costs.
Banking Industry Risk The Money Market Portfolio may invest a significant portion of its assets in obligations that are issued or backed by U.S. and non-U.S. banks, and thus will be more susceptible to negative events affecting the worldwide banking industry.
Regulatory Risk Changes in government regulations may adversely affect the value of a security held by the Money Market Portfolio. In addition, the SEC has adopted amendments to money market regulation, and may adopt additional reforms, which may impact the operation or performance of the Money Market Portfolio.
An investment in the Money Market Portfolio is not a deposit of any bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Money Market Portfolio seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Portfolio.
The following bar chart and table illustrate the risks of investing in Class A of the Money Market Portfolio. The bar chart shows changes in Class As performance from year to year. The returns for Select Class shares of the Money Market Portfolio will vary from the returns of Class A shares of the Money Market Portfolio as a result of differences in expenses applicable to each Class. The table shows average annual total returns of each Class of the Money Market Portfolio. Of course, past performance is not necessarily an indication of how the Money Market Portfolio will perform in the future. For updated performance information, please call TD Ameritrade at (800) 669-3900 or visit TDAM at www.tdamusa.com .
For the periods covered by the bar chart, the highest and lowest quarterly returns were 0.70% (for the quarter ended 3/31/08) and 0.00% (for the quarter ended 3/31/13), respectively.
AVERAGE ANNUAL TOTAL RETURN for the periods ended 12/31/13 (1)
1 Year | 5 Years | Since Inception (Class A: May 24, 2007, Select Class: July 3, 2007) | ||||||||||
Money Market Portfolio Class A | 0.01 | % | 0.03 | % | 0.70 | % | ||||||
Money Market Portfolio Select Class | 0.01 | % | 0.04 | % | 0.74 | % |
(1) | As of 12/31/13, the 7-day yields for the Money Market Portfolio Class A and Select Class were 0.01%, and 0.01%, respectively. |
TDAM USA Inc. (the Investment Manager or TDAM) is the Money Market Portfolios investment manager.
You may purchase or sell (redeem) your shares on any day when the New York Stock Exchange (NYSE) is open for regular trading and the Federal Reserve Bank of New York is open.
Investment and Balance Minimums . For shareholders wishing to purchase shares of the Select Class of the Money Market Portfolio through TD Ameritrade, there is an initial minimum purchase requirement of $50,000 and a minimum account balance requirement of $250,000 per shareholder. The initial purchase requirement and minimum account balance may be less if you purchase and hold shares through a financial intermediary. Class A of the Money Market Portfolio is not subject to these minimums, but may be subject to minimums set by your financial intermediary.
You may sell your shares by phone, by mail or online. For more information on how to purchase sell or exchange shares, you should contact your financial intermediary.
The Money Market Portfolio intends to make distributions that generally will be taxed as ordinary income or capital gains, unless you are a tax-exempt investor or are investing through a retirement plan.
If you purchase shares of the Money Market Portfolio through a broker-dealer or other financial intermediary (such as a bank), the Money Market Portfolio and its related companies may pay the intermediary for the sale of Money Market Portfolio shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other financial intermediary and your salesperson to recommend the Money Market Portfolio over another investment. Ask your salesperson or visit your financial intermediarys website for more information.
TDAMSUM02 |
1 Year ML Dep 8 Qws Chart |
1 Month ML Dep 8 Qws Chart |
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