TORONTO, Oct. 4 /CNW/ - RBC Asset Management Inc. (RBC AM) today
announced that it will change the way it calculates the Management Expense
Ratios (MERs) for the RBC Select Portfolios, the RBC Select Choices
Portfolios, the RBC Cash Flow Portfolios and the RBC Target Education Funds
(collectively the "portfolios"), making the costs of investing more
predictable for investors.
Beginning January 1, 2008, RBC AM will fix the MER for each of the
portfolios. By fixing the MER for each portfolio, changes in the mix of
underlying funds held by the portfolio will no longer impact the MER. The MER
for each series of units of the portfolios will be more predictable going
forward. The fixed MER will include all fees and expenses (including the fixed
administration fee) paid by the portfolio.
About RBC Asset Management
RBC Asset Management Inc. is an indirect, wholly owned subsidiary of
Royal Bank of Canada. RBC Asset Management Inc. provides a broad range of
investment services to investors through mutual funds, pooled funds and
separately managed portfolios. With offices in major financial centres around
the world, RBC Asset Management Inc. is one of Canada's largest money managers
and has over $83 billion in assets under management.
The RBC Asset Management mutual fund family was awarded the "Best Overall
Fund Group" in Canada for 2007 by Lipper Inc. The prestigious award is part of
a global program of events held by Lipper in 21 countries to highlight funds
and fund families that excel in delivering consistently strong risk-adjusted
performance relative to their peers. Visit our website at www.rbcam.com.
RBC Asset Management is part of RBC Wealth Management which directly
serves affluent and high net worth clients in Canada, the United States, Latin
America, Europe and Asia, provides asset management and trust services through
RBC partners and third-party distributors and has over $500 billion of assets
under administration, 3,500 financial advisors and $150 billion of assets
For further information:
For further information: Rina Cortese, RBC Wealth Management, (416)
974-6970; Jackie Braden, RBC Media Relations, (416) 974-2124