TORONTO, Nov. 22, 2013 /CNW/ - RBC Global Asset Management Inc. (RBC
GAM) today announced the final valuation of the RBC Target 2013
Corporate Bond Index ETF (TSX: RQA).
As announced earlier this year, the RBC Target 2013 Corporate Bond Index
ETF is scheduled to mature effective the close of business today
(Friday November 22, 2013). The final net asset value (NAV) per unit of
the ETF is as follows:
FINAL NAV PER UNIT
RBC Target 2013 Corporate Bond Index ETF
The maturity proceeds will be paid out of the ETF today to the holders
of the remaining outstanding units of the ETF on a pro rata basis.
The suite of RBC Target Maturity Corporate Bond ETFs includes eight
corporate bond ETFs with maturities spanning from 2014 to 2021. These
ETFs provide targeted maturity exposure, enabling investors to build
customized fixed income portfolios tailored to specific investment
Unlike traditional ETFs, which have a perpetual life, target-maturity
ETFs have a specified maturity date established when the ETF is
launched. When the ETF reaches the maturity date, the ETF's final net
asset value is returned to the current unitholders.
A target maturity ETF's portfolio contains fixed income securities that
mature throughout its stated maturity year. This structure results in a
duration profile similar to that of an individual bond, where the
duration of the ETF should decline as it approaches maturity, reducing
sensitivity to interest rate changes. These target maturity ETFs do not
seek to return any predetermined amount at maturity.
For further information regarding RBC ETFs, please visit www.rbcgam.com/etfs, or call 1-855-RBC-ETFS (722-3837).
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, Phillips, Hager & North Investment Management and RBC
Global Asset Management (U.S.). RBC GAM is a provider of global
investment management services and solutions to individual,
high-net-worth and institutional investors through exchange-traded
funds, hedge funds, mutual funds, pooled funds, separate accounts and
specialty investment strategies. RBC GAM group of companies manage more
than $295 billion in assets and have approximately 1,000 employees
located across Canada, the United States, Europe and Asia.
RBC Global Asset Management is part of RBC Wealth Management, which is one of the world's top 10 largest wealth managers*. RBC
Wealth Management directly serves affluent, high-net-worth and
ultra-high net worth clients in Canada, the United States, Latin
America, Europe, the Middle East, Africa, and Asia with a full suite of
banking, investment, trust and other wealth management solutions. 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 Global Asset Management business
(which includes BlueBay Asset Management). RBC Wealth Management has
more than C$615 billion of assets under administration, more than C$373
billion of assets under management and over 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 2013. 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:
Matthew Gierasimczuk, RBC GAM Communications, 416 974-2124
Leah Commisso, RBC GAM Media Relations, 416 955-6498