TORONTO, March 14,
2024 /CNW/ - RBC Global Asset Management Inc.
("RBC GAM Inc.") today announced that RBC Target 2024 Government
Bond ETF (TSX: RGQL) and RBC Target 2024 Corporate Bond Index ETF
(TSX: RQL) will mature on or about Friday,
September 13, 2024 (the "Maturity Date").
Unlike traditional exchange-traded funds ("ETFs"), which have a
perpetual life, target maturity ETFs have a specified maturity date
that is established when the ETF is launched and disclosed in its
prospectus. When the ETF reaches its maturity date, the ETF's final
net asset value ("NAV") is returned to the current unitholders.
A target maturity ETF's portfolio contains securities that
mature throughout its stated maturity year. This structure results
in a duration profile similar to that of an individual bond, where
the ETF's duration can be expected to decline as it approaches
maturity, reducing sensitivity to interest rate changes. These ETFs
do not seek to return any predetermined amount at maturity.
The RBC family of Target Maturity Bond ETFs includes six
Canadian government bond ETFs and six Canadian corporate bond ETFs
with maturities ranging from 2024 to 2029.
RBC GAM Inc. will issue an additional press release on or about
the Maturity Date confirming final maturity details. Further
details will be mailed to unitholders of RBC Target 2024 Government
Bond ETF and RBC Target 2024 Corporate Bond Index ETF at least 60
days prior to the Maturity Date.
For further information regarding RBC ETFs, please visit
www.rbcgam.com/etfsolutions.
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.
SOURCE RBC Global Asset Management Inc.