TORONTO, Feb. 17, 2012 /CNW/ - RBC Global Asset Management Inc. announced today that the management fee of each RBC Target Maturity Corporate Bond ETF will decrease to 0.20 per cent effective January 1st of the ETF's maturity year. This reduction reflects the change in the investment management requirements of the ETF as the bonds it holds mature during the maturity year and as its portfolio transitions to cash and cash equivalents.
Furthermore, effective Wednesday, February 29, 2012, the names of the RBC ETFs will change to more clearly reflect that each ETF is an index fund.
|CURRENT NAME||NEW NAME|
|RBC Target 2013 Corporate Bond ETF||RBC Target 2013 Corporate Bond Index ETF|
|RBC Target 2014 Corporate Bond ETF||RBC Target 2014 Corporate Bond Index ETF|
|RBC Target 2015 Corporate Bond ETF||RBC Target 2015 Corporate Bond Index ETF|
|RBC Target 2016 Corporate Bond ETF||RBC Target 2016 Corporate Bond Index ETF|
|RBC Target 2017 Corporate Bond ETF||RBC Target 2017 Corporate Bond Index ETF|
|RBC Target 2018 Corporate Bond ETF||RBC Target 2018 Corporate Bond Index ETF|
|RBC Target 2019 Corporate Bond ETF||RBC Target 2019 Corporate Bond Index ETF|
|RBC Target 2020 Corporate Bond ETF||RBC Target 2020 Corporate Bond Index ETF|
These are name changes only. The investment objectives and strategies of the RBC Target Maturity Corporate Bond ETFs have not changed.
For further information regarding RBC ETFs, please visit www.rbcgam.com/etfs.
Commissions, management fees and expenses all may be associated with investments in exchange-traded funds. Please read the prospectus before investing. Funds are not guaranteed, their values change frequently and past performance may not be repeated. Fund units are bought and sold at market price on a stock exchange and brokerage commissions will reduce returns. RBC ETFs do not seek to return any predetermined amount at maturity. Index returns do not represent RBC ETF returns. RBC ETFs are managed by RBC Global Asset Management Inc., an indirect wholly-owned subsidiary of Royal Bank of Canada.
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) which 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 approximately $250 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$525 billion of assets under administration, more than C$305 billion of assets under management and approximately 4,300 financial consultants, advisors, private bankers and trust officers.
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