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RBC Global Asset Management Inc. lowers management
fees and changes RBC ETF names for further transparency
TORONTO, February 17, 2012 — 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.
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CURRENT
NAME
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NEW
NAME
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| 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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For more information, please contact:
Yen To, RBC GAM Communications, 416 955-5916
Leah Commisso, RBC GAM Media Relations, 416 955-6498
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