Firm intends to expand passive ETF lineup, close certain mutual funds to new investors, and re-designate certain fund series
RBC Global Asset Management (RBC GAM) has unveiled a slate of changes to its lineup of RBC Index funds.
Pursuant to the RBC iShares strategic alliance, RBC GAM said it’s adding five new ETF funds to its lineup of index-based solutions effective January 24, 2022. The funds, which will each invest in at least one iShares ETF, include:
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RBC Index ETF Fund |
Underlying iShares ETF(s) |
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RBC Global Bond Index ETF Fund |
iShares Core U.S. Aggregate Bond ETF (AGG) and iShares Core International Aggregate Bond ETF (IAGG), targeting a 40/60 split, with currency hedging |
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RBC Canadian Equity Index ETF Fund |
iShares Core S&P/TSX Capped Composite Index ETF (XIC) |
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RBC U.S. Equity Index ETF Fund |
iShares Core S&P 500 ETF (IVV) |
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RBC Global Equity Index ETF Fund |
iShares MSCI World ETF (URTH) |
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RBC Emerging Market Equity Index ETF Fund |
iShares Core MSCI Emerging Markets ETF (IEMG) |
On the same date, the firm is renaming the RBC Canadian Bond Index Fund as the RBC Canadian Bond Index ETF Fund, the RBC U.S. Index Currency Neutral Fund as the RBC U.S. Equity Currency Neutral Index ETF Fund, and the RBC International Index Currency Neutral Fund as the RBC International Equity Currency Neutral Index ETF Fund.
Also, effective January 21, 2022 after 4 PM ET, RBC GAM will close five funds to new investors, with series A units to be redesignated to series DZ effective January 24:
- RBC Canadian Index Fund
- RBC U.S. Index Fund
- RBC U.S. Index Currency Neutral Fund (Series A units only)
- RBC International Index Currency Neutral Fund (Series A units only)
Current unitholders will still be able to make investments into the funds.
Finally, the management fee for Series A units of RBC Canadian Bond Index Fund will be trimmed from 0.60% to 0.59% on January 24, 2022.
