RBC Global Asset Management Inc. announces RBC Target 2020 Education Fund maturity date and fee reductions for various RBC Funds and PH&N Funds Français
TORONTO, Dec. 12, 2019 /CNW/ - RBC Global Asset Management Inc. (RBC GAM Inc.) today announced details regarding the maturity of RBC Target 2020 Education Fund and the reduction of specified percentages and/or management fees for various RBC Funds and PH&N Funds.
RBC Target 2020 Education Fund – Maturity
On or about June 26, 2020, RBC Target 2020 Education Fund will have reached its maturity date and RBC GAM Inc. will terminate it accordingly. All outstanding units of RBC Target 2020 Education Fund will be cancelled on the maturity date and unitholders will receive units of RBC Canadian Money Market Fund in exchange.
Fee reductions for other RBC Funds and PH&N Funds
As disclosed in the RBC Funds and PH&N Funds simplified prospectuses, as the asset mix of each RBC Target Education Fund, RBC Retirement Portfolio and Phillips, Hager & North LifeTime Fund becomes more conservative, the specified percentage and/or management fee for that fund will be reduced to reflect the more conservative asset mix. The following funds will have their specified percentages and/or management fees reduced as of January 1, 2020:
Fund
|
Series
|
Specified Percentage
|
|
Current |
As of January 1, 2020 |
||
RBC Target 2020 Education Fund |
A |
1.00% |
0.50% |
D |
0.80% |
0.50% |
|
RBC Target 2025 Education Fund |
A |
1.75% |
1.55% |
D |
1.00% |
0.90% |
|
RBC Target 2030 Education Fund |
A |
1.85% |
1.75% |
D |
1.10% |
1.00% |
|
Fund
|
Series
|
Management Fee
|
|
Current |
As of January 1, 2020 |
||
RBC Target 2020 Education Fund |
F |
0.65% |
0.35% |
RBC Target 2025 Education Fund |
F |
0.80% |
0.70% |
RBC Target 2030 Education Fund |
F |
0.85% |
0.80% |
RBC Retirement 2025 Portfolio
|
A |
1.80% |
1.50% |
Advisor |
1.80% |
1.50% |
|
F |
0.80% |
0.75% |
|
Phillips, Hager & North LifeTime 2020 Fund |
D |
0.80% |
0.75% |
F |
0.55% |
0.50% |
|
Phillips, Hager & North LifeTime 2025 Fund |
D |
0.85% |
0.80% |
F |
0.60% |
0.55% |
|
Phillips, Hager & North LifeTime 2030 Fund |
D |
0.90% |
0.85% |
F |
0.65% |
0.60% |
|
Phillips, Hager & North LifeTime 2035 Fund |
D |
0.95% |
0.90% |
F |
0.70% |
0.65% |
|
Phillips, Hager & North LifeTime 2040 Fund |
D |
1.00% |
0.95% |
F |
0.75% |
0.70% |
|
Phillips, Hager & North LifeTime 2045 Fund |
D |
1.05% |
1.00% |
F |
0.80% |
0.75% |
|
Phillips, Hager & North LifeTime 2050 Fund |
D |
1.10% |
1.05% |
F |
0.85% |
0.80% |
|
Phillips, Hager & North LifeTime 2055 Fund |
D |
1.15% |
1.10% |
F |
0.90% |
0.85% |
|
The specified percentage includes the fund's management fee, administration fee, taxes (other than the additional cost of the HST), other fund costs and any fees and expenses of the underlying funds.
Please consult your advisor and read the prospectus or Fund Facts document before investing. There may be commissions, trailing commissions, management fees and expenses associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. RBC Funds, BlueBay Funds and PH&N Funds are offered by RBC GAM Inc. and distributed through authorized dealers. RBC GAM Inc. is a member of the RBC GAM group of companies and an indirect wholly owned subsidiary of Royal Bank of Canada.
About RBC Global Asset Management
RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) and includes money managers BlueBay Asset Management and Phillips, Hager & North Investment Management. RBC GAM is a provider of global investment management services and solutions to institutional, high-net-worth and individual investors through separate accounts, pooled funds, mutual funds, hedge funds, exchange-traded funds and specialty investment strategies. The RBC GAM group of companies manage approximately $450 billion in assets and have approximately 1,400 employees located across Canada, the United States, Europe and Asia.
About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 85,000+ employees who bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to 17 million clients in Canada, the U.S. and 34 other countries. Learn more at rbc.com.
We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.
SOURCE RBC Global Asset Management
Brandon Dorey, RBC GAM Corporate Communications, 416-955-7397, [email protected]
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