TORONTO, October 8, 2013 - Self-directed investors now have increased access to Series D mutual funds tailored to their needs through substantially lower fund investment minimums, which have dropped to $500 from $10,000.
Initially offered by RBC Direct Investing and RBC Global Asset Management in 2007, Series D was the first mutual fund series in Canada developed specifically for the self-directed investor. Series D provides self-directed investors with lower pricing for conducting their own research and making their own investment decisions.
The appeal of self-directed investing has increased significantly in the past few years, drawing in a broader cross-section of Canadian investors across a multitude of age groups and asset levels. Series D is being adjusted so that self-directed investors with smaller balances can gain access to professional money management at non-advice channel pricing.
Series D fund investment minimums have now been lowered to $500 per fund, per account from the previous $10,000 minimum for Series D RBC Funds and BlueBay Funds (and lowered from the previous $5,000 minimum for Series D PH&N Funds). Series D has lower Management Expense Ratios (MERs); for example, the 2012 industry average MER* for a Canadian Dividend & Income Equity Fund was 2.08 per cent, while the MER for Series D units of the RBC Canadian Dividend Fund was 1.22 per cent.
“I’m very pleased to provide our self-directed investors access to lower pricing options for the mutual funds in their self-directed portfolios,” said Rosalyn Kent, president and CEO of RBC Direct Investing. “RBC Global Asset Management pioneered this mutual fund series six years ago to give self-directed investors a very competitive option – we’re now ramping up that option to better meet the needs of self-directed investors in today’s market.”
Available on over 100 RBC Funds, BlueBay Funds, and PH&N Funds, Series D is aimed at self-directed investors who want to invest in actively managed funds and enjoy the cost savings associated with making their own decisions. For more information about Series D, please visit www.rbcdirectinvesting.com/seriesd .
* Based on Canadian Investment Funds Standards Committee categories (CIFSC) and Morningstar Canada data as of June 30, 2013.
About RBC Direct Investing
One of Canada’s leading online brokerages, RBC Direct Investing is a wholly owned subsidiary of Royal Bank of Canada. RBC Direct Investing provides innovative tools and resources for investors who prefer to manage all or a portion of their investment portfolio. Clients have online access to their investments 24/7 and can choose from a broad range of investment products, including stocks, bonds, exchange-traded funds, GICs, and thousands of mutual funds. Online innovations such as “Practice Accounts ” and the new RBC Direct Investing Community – together with comprehensive learning resources – help give all online investors the confidence they need to manage their own investments. For new as well as seasoned investors who wish to speak to someone directly, RBC Direct Investing has an award winning team of investment services representatives available to respond to clients’ account and trading inquiries. For more information, please visit www.rbcdirectinvesting.com .
RBC Direct Investing is a member of The Canadian Investor Protection Fund.
About RBC Global Asset 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 $290 billion in assets and have approximately 1,000 employees located across Canada, the United States, Europe and Asia.
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For further information, please contact:
Kathy Bevan, RBC Communications, 416-974-8820,