Maybe it's a marketing thing. TD may believe that people believe that managers can still predict the market, even if they can't pick individual stocks.

What TD really needs: a conservative, a neutral, and an aggressive balanced portfolio, plus a synthetic trio of the same that do not record or pay distributions, but emulates the values of the basic portfolios assuming all distributions are reinvested. The 2nd set is for long-term investors who would have trouble reinvesting small amounts, and also not having to pay interim taxes in non-registered accounts.