TORONTO, Sept. 15, 2020 /CNW/ - RBC Global Asset Management Inc. ("RBC GAM Inc.") today announced the termination of five RBC ETFs effective on or about Friday, November 27, 2020 (the "termination date").
The following RBC ETFs will be terminated (the "terminating ETFs"):
- RBC Strategic Global Dividend Leaders ETF (TSX: RLD),
- RBC Strategic Global Equity Leaders ETF (TSX: RLE),
- RBC Quant Global Infrastructure Leaders ETF (TSX: RIG in CAD and TSX: RIG.U in USD),
- RBC Quant Global Real Estate Leaders ETF (TSX: RGRE in CAD and TSX: RGRE.U in USD), and
- RBC 6-10 Year Laddered Canadian Corporate Bond ETF (TSX: RMBO).
Unitholders may continue to buy or sell units of each of the terminating ETFs on the Toronto Stock Exchange ("TSX"), or any other stock exchange on which the terminating ETFs are traded until the units are delisted.
The terminating ETFs are anticipated to be voluntarily delisted from the TSX at the request of RBC GAM Inc., the manager of the terminating ETFs, following market close on or about Wednesday, November 25, 2020, with all units still held by investors being subject to a mandatory redemption as of the termination date.
Prior to the termination date, RBC GAM Inc. will, to the extent reasonably possible, convert the assets of each terminating ETF to cash. After paying or making adequate provision for the liabilities of each terminating ETF and as soon as practicable following the termination date, RBC GAM Inc. will distribute the net assets of each terminating ETF pro-rata among the unitholders of record on the termination date.
RBC GAM Inc. will issue an additional press release on or about the termination date confirming the final details of each terminating ETF. Further details of the terminations will be mailed to unitholders of the terminating ETFs at least 60 days prior to the termination date.
For further information regarding RBC ETFs, please visit www.rbcgam.com/etfs.
Commissions, management fees and expenses all may be associated with investments in 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 Global Asset Management Inc., 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 86,000+ employees who 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 34 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 $500 billion in assets and have approximately 1,400 employees located across Canada, the United States, Europe and Asia.
SOURCE RBC Global Asset Management Inc.
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