TORONTO, November 21, 2014 – RBC Global Asset Management Inc. today announced the final valuation of the RBC Target 2014 Corporate Bond Index ETF (TSX: RQB).
As announced earlier this year, the RBC Target 2014 Corporate Bond Index ETF will mature effective the close of business today, Friday, November 21, 2014. The final net asset value (NAV) per unit of the ETF is as follows:
per unit ($)
|RBC Target 2014 Corporate Bond Index ETF||RQB||$18.7720|
The final net asset value (NAV) per unit consists of the following:
|Income per unit||$0.0854|
|Capital per unit||$18.6866|
|Final NAV per unit||$18.7720|
The maturity proceeds will be paid out of the ETF today to the holders of the remaining outstanding units.
The suite of RBC Target Maturity Corporate Bond ETFs includes seven corporate bond ETFs with maturities spanning from 2015 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 ETF’s duration should decline as it approaches maturity, reducing sensitivity to interest rate changes. These 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). Please read the prospectus before investing. There may be commissions, trailing commissions, management fees and expenses associated with investments in exchange-traded funds. Funds are not guaranteed, their values change frequently and past performance may not be repeated. Fund 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 Global Asset Management Inc., an indirect wholly-owned subsidiary of Royal Bank of Canada.
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 and Phillips, Hager & North Investment Management. RBC GAM is a provider of global investment management services and solutions to individual, high-net-worth and institutional investors through mutual funds, exchange-traded funds, hedge funds, pooled funds, separate accounts and specialty investment strategies. RBC GAM group of companies manage more than C$350 billion in assets and have approximately 1,200 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 five 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$690 billion of assets under administration, more than C$426 billion of assets under management and approximately 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 2014. 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.