AdminSource Buys TD Bank's RK Business

January 31, 2002 ( - AdminSource Inc., a subsidiary of AGF Management Limited, acquired the third-party fund valuation and recordkeeping business of TD Bank Financial Group.

AdminSource will expand its customer base to more than 60 clients and double its assets under management to approximately $20 billion. Terms of the transaction were not disclosed.

AdminSource will offer jobs to all of TD Bank Financial Group’s current staff in the fund valuation and recordkeeping business.

Also, in a separate deal, CIBC Mellon has purchased TD Bank’s third-party investment fund custody business and will be TD Bank’s primary supplier of internal custody.