TORONTO, March 16, 2022 /CNW/ - RBC Global Asset
Management Inc. ("RBC GAM Inc.") today announced that RBC Target
2022 Corporate Bond Index ETF (TSX: RQJ) will mature on or about
Friday, November 25, 2022 (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 Corporate Bond ETFs includes
six ETFs with maturities ranging from 2022 to 2027.
RBC GAM Inc. will issue an additional press release on or about
the maturity date confirming final details of the maturity. Further
details of the maturity will be mailed to unitholders of RBC Target
2022 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 88,000+ 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 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 $580 billion in
assets and have approximately 1,500 employees located across
Canada, the United States, Europe and Asia.
SOURCE RBC Global Asset Management Inc.