TD Waterhouse Group of New York has introduced seven new proprietary funds, the company announced. The funds have no transaction fees and the minimum initial investment is $1,000, the company said. For subsequent investments, the minimum is $100.The funds cover various market sectors and asset classes.

"These are among the lowest cost index funds available and they are the lowest priced index funds in our no transaction fee network," said Peter Mangan, chief operating officer of mutual funds at TD Waterhouse. TD Waterhouse currently sells over 10,000 mutual funds, about 1,400 of which are in its supermarket, the company said.

The new funds are the TD Waterhouse Technology Fund, the TD Waterhouse Tax Managed Growth Fund, the TD Waterhouse Bond Index Fund, the TD Waterhouse 500 Index Fund, the TD Waterhouse Extended Market Index Fund, the TD Waterhouse Asian Index Fund and the TD Waterhouse European Index fund.

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