TORONTO, Oct. 20, 2022 /CNW/ - Today, RBC iShares expanded its exchange traded fund ("ETF") lineup with the launch of two new RBC Target Maturity Corporate Bond ETFs. The new fixed income ETFs, managed by RBC Global Asset Management Inc. ("RBC GAM Inc."), will begin trading on the Toronto Stock Exchange today.
RBC Target Maturity Corporate Bond ETFs represent a family of fixed income ETFs maturing in successive years from 2022 to 2029. Each RBC Target Maturity Corporate Bond ETF tracks a unique FTSE Maturity Corporate Bond Index that maintains a portfolio of Canadian investment grade corporate bonds structured to mature in the same calendar year as the RBC Target Maturity Corporate Bond ETF. When the RBC Target Maturity Corporate Bond ETF reaches the maturity date, its final net asset value is returned to the current unitholders.
"RBC iShares is dedicated to providing Canadian investors and advisors with a comprehensive suite of fixed income ETFs to meet their evolving needs," said Mark Neill, Head of RBC ETFs. "In response to a challenging fixed income market, we have seen an increase in demand for solutions that allow investors and advisors to customize their portfolio's duration risk. Our suite of RBC Target Maturity Corporate Bond ETFs meets this demand by allowing them to invest in fixed income solutions with a specified maturity date."
Fund Name |
Ticker |
Index |
Annual |
RBC Target 2028 Corporate Bond |
RQQ |
FTSE Canada 2028 Maturity |
0.25 % |
RBC Target 2029 Corporate Bond |
RQR |
FTSE Canada 2029 Maturity |
0.25 % |
* The management fee will decrease to 0.20% in the maturity year. |
RBC iShares are ETFs comprising RBC ETFs managed by RBC Global Asset Management Inc. and iShares ETFs managed by BlackRock Asset Management Canada Limited. Commissions, trailing commissions, management fees and expenses all may be associated with investing in ETFs. Please read the relevant prospectus before investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. The RBC Target Maturity Corporate Bond ETFs do not seek to deliver a predetermined amount at maturity, and the amount an investor receives may be more or less than their original investment. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional.
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RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) and includes money managers BlueBay Asset Management and Phillips, Hager & North Investment Management. RBC GAM is a provider of global investment management services and solutions to institutional, high-net-worth and individual investors through separate accounts, pooled funds, mutual funds, hedge funds, exchange-traded funds and specialty investment strategies. The RBC GAM group of companies manage approximately $540 billion in assets and have approximately 1,500 employees located across Canada, the United States, Europe and Asia.
BlackRock's purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate.
iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, a global line-up of 900+ exchange traded funds (ETFs) and US$2.62 trillion in assets under management as of September 30, 2022, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock.
The RBC Target Maturity Corporate Bond ETFs referred to herein have been developed solely by RBC GAM Inc. The RBC Target Maturity Corporate Bond ETFs are not in any way connected to or sponsored, endorsed, sold or promoted by the London Stock Exchange Group plc and its group undertakings (collectively, the "LSE Group").
All rights in FTSE Canada 2028 Maturity Corporate Bond Index and FTSE Canada 2029 Maturity Corporate Bond Index (collectively, the "FTSE GDCM Indices") vest in FTSE Global Debt Capital Markets Inc. "FTSE®" is a trade mark of the relevant LSE Group company and is used under license.
The FTSE GDCM Indices are calculated by FTSE Global Debt Capital Markets Inc. or its affiliate, agent or partner, as applicable. The LSE Group does not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the FTSE GDCM Indices or (b) investment in or operation of the RBC Target Maturity Corporate Bond ETFs. The LSE Group makes no claim, prediction, warranty or representation either as to the results to be obtained from the RBC Target Maturity Corporate Bond ETFs or the suitability of the FTSE GDCM Indices for the purpose to which they are being put by RBC GAM Inc.
SOURCE RBC Global Asset Management Inc.
Brandon Dorey, RBC GAM Corporate Communications, [email protected], 416-955-7397
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