TORONTO, November 22, 2013 — RBC Global Asset Management Inc. (RBC GAM) today announced the final valuation of the RBC Target 2013 Corporate Bond Index ETF (TSX: RQA).
As announced earlier this year, the RBC Target 2013 Corporate Bond Index ETF is scheduled to mature effective the close of business today (Friday November 22, 2013). The final net asset value (NAV) per unit of the ETF is as follows:
|ETF||Ticker||Final NAV per unit|
|RBC Target 2013 Corporate Bond Index ETF||RQA||$ 18.9272|
The maturity proceeds will be paid out of the ETF today to the holders of the remaining outstanding units of the ETF on a pro rata basis.
The suite of RBC Target Maturity Corporate Bond ETFs includes eight corporate bond ETFs with maturities spanning from 2014 to 2021. These ETFs provide targeted maturity exposure, enabling investors to build customized fixed income portfolios tailored to specific investment needs.
Unlike traditional ETFs, which have a perpetual life, target-maturity ETFs have a specified maturity date established when the ETF is launched. When the ETF reaches the maturity date, the ETF’s final net asset value is returned to the current unitholders.
A target maturity ETF’s portfolio contains fixed income securities that mature throughout its stated maturity year. This structure results in a duration profile similar to that of an individual bond, where the duration of the ETF should decline as it approaches maturity, reducing sensitivity to interest rate changes. These target maturity ETFs do not seek to return any predetermined amount at maturity.
For further information regarding RBC ETFs, please visit www.rbcgam.com/etfs, or call 1-855-RBC-ETFS (722-3837).
RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC), and includes institutional money managers BlueBay Asset Management, Phillips, Hager & North Investment Management and RBC Global Asset Management (U.S.). RBC GAM is a provider of global investment management services and solutions to individual, high-net-worth and institutional investors through exchange-traded funds, hedge funds, mutual funds, pooled funds, separate accounts and specialty investment strategies. RBC GAM group of companies manage more than $295 billion in assets and have approximately 1,000 employees located across Canada, the United States, Europe and Asia.
RBC Global Asset Management is part of RBC Wealth Management, which is one of the world’s top 10 largest wealth managers*. RBC Wealth Management directly serves affluent, high-net-worth and ultra-high net worth clients in Canada, the United States, Latin America, Europe, the Middle East, Africa, and Asia with a full suite of banking, investment, trust and other wealth management solutions. The business also provides asset management products and services directly and through RBC and third party distributors to institutional and individual clients, through its RBC Global Asset Management business (which includes BlueBay Asset Management). RBC Wealth Management has more than C$615 billion of assets under administration, more than C$373 billion of assets under management and over 4,400 financial consultants, advisors, private bankers, and trust officers. For more information, please visit www.rbcwealthmanagement.com.
*Scorpio Partnership Global Private Banking KPI Benchmark 2013. In the United States, securities are offered through RBC Wealth Management, a division of RBC Capital Markets, LLC, a wholly owned subsidiary of Royal Bank of Canada. Member NYSE/FINRA/SIPC.