Big wins continue for do-it-yourself investors: RBC Direct Investing's Series D mutual funds selection expanding to three more mutual fund companies
BlackRock Canada, Invesco Canada and Mackenzie Investments to offer Series D
TORONTO, Nov. 27, 2013 /CNW/ - Recognizing the importance of mutual funds priced for self-directed investors (also known as "do-it-yourself" investors), three additional mutual fund companies will soon make Series D versions available, RBC Direct Investing announced today. Series D is a mutual funds series created and priced for self-directed investors.
BlackRock Asset Management Canada Limited (BlackRock Canada), Invesco Canada and Mackenzie Investments have confirmed their intention to create their own versions of Series D, offered at an initial investment minimum as low as $500. These funds will be available for purchase at RBC Direct Investing in the coming weeks, subject to regulatory approval.
This confirmation follows the announcement last month that RBC Global Asset Management was significantly lowering the initial minimum investment purchase amount for its Series D mutual funds to $500 from $10,000 to give investors with smaller balances access to professional money management at non-advice channel pricing.
Initially offered by RBC Direct Investing and RBC Global Asset Management in 2007, Series D was the first mutual fund series in Canada developed specifically for self-directed investors, providing them with lower pricing for conducting their own research and making their own investment decisions.
"Bringing Series D mutual funds from additional fund companies to our product shelf ensures that self-directed investors will be receiving added choice coupled with value for money - key benefits for these investors," said Rosalyn Kent, president and CEO of RBC Direct Investing. "We hope that more mutual fund companies offer
Series D versions of their funds, to bring even greater choice and value."
RBC Direct Investing announced on October 8, 2013 that Series D fund investment minimums were being lowered to $500 per fund, per account for Series D RBC Funds and BlueBay Funds; in addition, Series D PH&N Funds minimum investments were lowered to $500 from the previous $5,000.
"We're very pleased that three major mutual fund companies are creating
Series D versions of their funds, so that we can offer this channel-appropriate pricing option to reward self-directed investors who do their own research and want to invest in actively managed funds," added Kent.
For more information about Series D mutual funds available through RBC Direct Investing, please visit www.rbcdirectinvesting.com/seriesd/.
About RBC Direct Investing
One of Canada's leading online brokerages, RBC Direct Investing is a wholly owned subsidiary of Royal Bank of Canada. RBC Direct Investing provides innovative tools and resources for investors who prefer to manage all or a portion of their investment portfolio. Clients have online access to their investments 24/7 and can choose from a broad range of investment products, including stocks, bonds, exchange-traded funds, GICs, and thousands of mutual funds. Online innovations such as Practice Accounts and the new RBC Direct Investing Community - together with comprehensive learning resources - help give all online investors the confidence they need to manage their own investments. For new as well as seasoned investors who wish to speak to someone directly, RBC Direct Investing has an award winning team of investment services representatives available to respond to clients' account and trading inquiries. RBC Direct Investing is a Member of the Canadian Investor Protection Fund. For more information, please visit www.rbcdirectinvesting.com.
SOURCE RBCFor further information:
Kathy Bevan, RBC Communications, 416 974-8820, firstname.lastname@example.org