School may be out, but RBC reminds parents to invest for
their children's education
RBC Asset Management launches new Target 2025 Education
Fund and introduces Series T versions of five funds
TORONTO, July 3, 2007 — RBC Asset Management
today announced the launch of the RBC Target 2025 Education
Fund. This new fund builds on the existing suite of target
date funds that help parents save for their children's education.
"Target date funds make it easy to manage investments
for goals with specific target dates. Saving for a child's
education is a perfect application," said Brenda Vince,
president, RBC Asset Management Inc. "While there are
other potential uses for target date funds, we encourage investors
to work actively with their advisor for more complex goals
such as retirement, to ensure each client's unique circumstances
are considered."
With this launch, RBC Asset Management continues its leadership
in the development of portfolio solutions and "life cycles"
funds. The RBC Target Education Funds were an industry first
in Canada, when launched in 2004. These "life cycle"
funds are designed to deliver growth up front, gradually becoming
more conservative over time as a client's target date approaches.
RBC Asset Management also announced the launch of Series
T versions of five of its most popular funds - RBC Balanced
Fund, RBC Balanced Growth Fund, RBC Canadian Dividend Fund,
RBC North American Dividend Fund, and RBC Global Dividend
Growth Fund. Tax-efficient Series T units pay monthly distributions,
which are expected to consist primarily of return of capital
and capital gains. The target distribution is 8 per cent annually,
paid monthly. The distribution amount will be reviewed each
year, and re-set to 8 per cent of the net asset value per
unit.
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.
RBC Asset Management's 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 asset under management.
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For further information, please contact:
Rina Cortese, RBC Wealth Management, (416) 974-6970, rina.cortese@rbc.com
Jackie Braden, RBC, (416) 974-2124, jackie.braden@rbc.com
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