TORONTO, March 16, 2015 /CNW/ - RBC Global Asset Management Inc. (RBC
GAM) today announced that the RBC Target 2015 Corporate Bond Index ETF
(TSX: RQC) will mature on Friday, November 20, 2015.
Launched in 2011, the RBC suite of Target Maturity Corporate Bond ETFs
consists of seven target maturity ETFs with maturities ranging from
2015 to 2021. Unlike traditional ETFs, which have a perpetual life,
target maturity ETFs have a specified maturity date that is established
when the ETF is launched. When the ETF reaches the maturity date, the
ETF's final net asset value (NAV) is returned to the current
A target maturity ETF's portfolio contains securities that mature
throughout its stated maturity year. This structure results in a
duration profile similar to that of an individual bond, where the ETF's
duration can be expected to decline as it approaches maturity, reducing
sensitivity to interest rate changes. These ETFs do not seek to return
any predetermined amount at maturity.
For further information regarding RBC ETFs, please visit www.rbcgam.com/etfs.
About RBC Global Asset Management and RBC Wealth Management
RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada
(RBC), and includes institutional money managers BlueBay Asset
Management and Phillips, Hager & North Investment Management. RBC GAM
is a provider of global investment management services and solutions to
individual, high-net-worth and institutional investors through mutual
funds, exchange-traded funds, hedge funds, pooled funds, separate
accounts and specialty investment strategies. RBC GAM group of
companies manage more than $370 billion and have approximately 1,200
employees located across Canada, the United States, Europe and Asia.
RBC GAM is part of RBC Wealth Management, which is one of the world's top five largest wealth managers*. RBC
Wealth Management directly serves affluent, high-net-worth and
ultra-high net worth clients globally with a full suite of banking,
investment, trust and other wealth management solutions, from our key
operational hubs in Canada, the United States, the British Isles, and
Asia. The business also provides asset management products and services
directly and through RBC and third party distributors to institutional
and individual clients, through its RBC GAM business. RBC Wealth
Management has more than C$767 billion of assets under administration,
more than C$480 billion of assets under management and approximately
4,400 financial consultants, advisors, private bankers, and trust
officers. For more information, please visit www.rbcwealthmanagement.com.
*Scorpio Partnership Global Private Banking KPI Benchmark 2014. In the
United States, securities are offered through RBC Wealth Management, a
division of RBC Capital Markets, LLC, a wholly owned subsidiary of
Royal Bank of Canada. Member NYSE/FINRA/SIPC.
For further information:
Matt Gierasimczuk, RBC GAM Corporate Communications, 416-974-2124
Leah Commisso, RBC GAM Corporate Communications, 416-955-6498