TORONTO, Feb. 20,
2024 /CNW/ - RBC iShares intends to expand its suite
of RBC Target Maturity Bond ETFs with the filing by RBC Global
Asset Management Inc. ("RBC GAM Inc.") (on February 16, 2024) of a Preliminary Prospectus
(the "Preliminary Prospectus") with the securities regulatory
authority in each province and territory of Canada for six new RBC Target Maturity U.S.
Corporate Bond ETFs, as well as an additional RBC Target Maturity
Canadian Government Bond ETF and an additional RBC Target Maturity
Canadian Corporate Bond Index ETF. The new RBC ETFs will be managed
by RBC GAM Inc.
New RBC Target Maturity U.S. Corporate Bond ETF suite
The RBC Target Maturity U.S. Corporate Bond ETFs will have
maturities ranging from 2025 through 2030 and will complement the
existing suites of RBC Target Maturity Canadian Government Bond
ETFs and RBC Target Maturity Canadian Corporate Bond Index
ETFs.
The investment objective of each RBC Target Maturity U.S.
Corporate Bond ETF will be to provide income, for a limited period
of time ending on the respective RBC Target Maturity U.S. Corporate
Bond ETF's Termination Date (defined as on or about September 30 of its applicable maturity year), by
investing primarily in a portfolio of investment-grade fixed income
securities issued in the U.S. market by U.S. and foreign
corporations that mature in the same calendar year as the RBC
Target Maturity U.S. Corporate Bond ETF's Termination Date. Each
RBC Target Maturity U.S. Corporate Bond ETF will terminate on its
Termination Date.
In addition, the Preliminary Prospectus includes the addition of
RBC Target 2030 Canadian Government Bond ETF and RBC Target 2030
Canadian Corporate Bond Index ETF, extending the available
maturities of the RBC Target Maturity Canadian Government Bond ETF
suite and the RBC Target Maturity Canadian Corporate Bond Index ETF
suite, respectively.
For more information about RBC iShares, please visit
https://www.rbcishares.com.
A preliminary and pro forma prospectus for the RBC ETFs dated
February 16, 2024 (the "Preliminary
Prospectus") has been filed with the securities regulatory
authority in each of the provinces and territories of Canada. The Preliminary Prospectus contains
important information and is still subject to completion or change.
The Preliminary Prospectus is available on SEDAR+
at www.sedarplus.ca. This press release is for information
purposes only and does not constitute an offer to sell or a
solicitation to buy the securities referred to herein. No
securities regulatory authority has either approved or disapproved
the contents of this press release. There will not be any sale
or any acceptance of an offer to buy the securities until a receipt
for the final prospectus has been issued.
RBC iShares are comprised of RBC ETFs managed by RBC Global
Asset Management Inc. and iShares ETFs managed by BlackRock Asset
Management Canada Limited. Commissions, management fees and
expenses all may be associated with investments in exchange-traded
funds ("ETFs"). Please read the applicable prospectus or ETF Facts
document before investing. ETFs are not guaranteed, their values
change frequently, and past performance may not be repeated. ETF
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 GAM Inc., a
member of the RBC GAM group of companies and an indirect
wholly-owned subsidiary of Royal Bank of Canada.
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 94,000+ employees who leverage their imaginations and insights
to 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 our 17 million clients in Canada, the U.S. and 27 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.
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 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 $575 billion in assets and have approximately
1,500 employees located across Canada, the United
States, Europe and
Asia.
About BlackRock
BlackRock's purpose is to help more and more people experience
financial well-being. As a fiduciary to investors and a leading
provider of financial technology, we help millions of people build
savings that serve them throughout their lives by making investing
easier and more affordable. For additional information on
BlackRock, please visit www.blackrock.com/corporate | Twitter:
@BlackRockCA
About iShares
iShares unlocks opportunity across markets to meet the evolving
needs of investors. With more than twenty years of experience, a
global line-up of 1400+ exchange traded funds (ETFs) and
US$3.5 trillion in assets under
management as of December 31, 2023,
iShares continues to drive progress for the financial industry.
iShares funds are powered by the expert portfolio and risk
management of BlackRock.
iShares® ETFs are managed by BlackRock Asset Management Canada
Limited
SOURCE RBC Global Asset Management Inc.