TD Waterhouse, Morningstar To Provide Fund Information For Canadian Investors

Caroline Maxwell, Investors Offshore.com

21 February 2001

The Canadian subsidiary of the TD Waterhouse Group, TD Waterhouse Investor Services, announced on Monday that it would be joining forces with Morningstar Canada, in order to provide self-directed investors with access to extensive independent mutual fund investment information.

The alliance will provide provide TD Waterhouse clients with free online access to investment information and research tools, as well as to the Morningstar Star Ratings, which details each mutual fund's quantitative, risk adjusted ranking in relation to other funds within its category.

John See, Vice Chair of the TD Waterhouse Group, was quoted yesterday as saying: 'This new alliance clearly raises the bar when it comes to providing Canadian self-directed investors with the information they need to make informed decisions.'

The TD Waterhouse Group currently services over 4.5 million customer accounts worldwide, with more than 1 million of these established in Canada, holding approximately $55 billion in assets under administration. It has been a tough first quarter for the group overall, with curtailed investment activity and difficult market conditions meaning that net income is down 35% from the US$57 million achieved this time last year. Much of the research conducted recently suggests that lack of targeted and relevant research was one of the reasons why investors began to stay away in droves last year, so this latest move by TD Waterhouse Investor Services may have been timely.

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