On The Shelf:

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(February 6, 2008) TD Asset Management announced today that it will pull the plug on three mutual funds. The three funds, all based on U.S holdings, are U.S. Blue ChipEquity (currency-neutral fund), U.S. Mid-Cap Growth (currency-neutral fund) and U.S. Small-Cap Equity (currency-neutral fund).

TD’s announcement to terminate the funds means no more units will be offered for purchase, effective immediately, and that all three funds will be closed as of April 11, 2008.

The decision to terminate all three funds is due to a low number of unitholders and the associated costs of maintaining smaller funds, explained TD’s press release.

Current unitholders may redeem or switch their holdings prior to termination date and will not be required to pay redemption fees, sales charges or other fees associated with the termination of funds.

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Investors get gas with new ETF

(February 6, 2008) Claymore Investments has launched another commodity-based ETF, this time providing investors with exposure to the price of natural gas, as reflected by the NGX Canadian Natural Gas Index.

“Natural gas is one of the most important energy commodities and is one of Canada’s great energy assets,” said Som Seif, president & CEO of Claymore Investments. “This ETF will represent the first and currently only pure-play product designed to give investors access to this great Canadian natural gas market, which we believe will have broad market appeal to both institutional and retail investors.”

The ETF invests in physical natural gas forward contracts and does not use leverage. It is now available on the TSX under the ticker GAS.

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Northwest reopens specialty high-yield fund

(February 6, 2008) Northwest has announced the reopening of its Northwest Specialty High Yield Bond Fund effective Thursday, February 7, 2008.

Northwest had closed the fund to new subscriptions two years ago in an effort “to protect unitholders from a dilution in performance.” Since then, Northwest Funds reports that the fund has performed well in challenging markets.

The current decision to reopen the fund is based upon the portfolio’s sub-advisor’s ability to gradually increase the portfolio’s global high-yield exposure.

Since June 2007 the yield spread between corporate bonds and 10-year U.S. treasuries has increased to over 700 basis points largely due to fears of a liquidity crisis in the financial markets. Despite these short-term fears, historical analysis suggests that the beginning of wide-spread levels usually leads to robust returns in subsequent years.

(02/06/08)