Investment minimums drop to $500 from $10,000 on RBC Global Asset
Management family of funds
TORONTO, Oct. 8, 2013 /CNW/ - Self-directed investors now have increased
access to Series D mutual funds tailored to their needs through
substantially lower fund investment minimums, which have dropped to
$500 from $10,000.
Initially offered by RBC Direct Investing and RBC Global Asset
Management in 2007, Series D was the first mutual fund series in Canada
developed specifically for the self-directed investor. Series D
provides self-directed investors with lower pricing for conducting
their own research and making their own investment decisions.
The appeal of self-directed investing has increased significantly in the
past few years, drawing in a broader cross-section of Canadian
investors across a multitude of age groups and asset levels. Series D
is being adjusted so that self-directed investors with smaller balances
can gain access to professional money management at non-advice channel
pricing.
Series D fund investment minimums have now been lowered to $500 per
fund, per account from the previous $10,000 minimum for Series D RBC
Funds and BlueBay Funds (and lowered from the previous $5,000 minimum
for Series D PH&N Funds). Series D has lower Management Expense Ratios
(MERs); for example, the 2012 industry average MER* for a Canadian
Dividend & Income Equity Fund was 2.08 per cent, while the MER for
Series D units of the RBC Canadian Dividend Fund was 1.22 per cent.
"I'm very pleased to provide our self-directed investors access to lower
pricing options for the mutual funds in their self-directed
portfolios," said Rosalyn Kent, president and CEO of RBC Direct
Investing. "RBC Global Asset Management pioneered this mutual fund
series six years ago to give self-directed investors a very competitive
option - we're now ramping up that option to better meet the needs of
self-directed investors in today's market."
Available on over 100 RBC Funds, BlueBay Funds, and PH&N Funds, Series D
is aimed at self-directed investors who want to invest in actively
managed funds and enjoy the cost savings associated with making their
own decisions. For more information about Series D, please visit www.rbcdirectinvesting.com/seriesd.
* Based on Canadian Investment Funds Standards Committee
categories (CIFSC) and Morningstar Canada data as of June 30, 2013.
About RBC Direct Investing
One of Canada's leading online brokerages, RBC Direct Investing is a
wholly owned subsidiary of Royal Bank of Canada. RBC Direct Investing
provides innovative tools and resources for investors who prefer to manage all or a portion of their investment
portfolio. Clients have online access to their investments 24/7 and can
choose from a broad range of investment products, including stocks,
bonds, exchange-traded funds, GICs, and thousands of mutual funds.
Online innovations such as "Practice Accounts" and the new RBC Direct Investing Community - together with
comprehensive learning resources - help give all online investors the
confidence they need to manage their own investments. For new as well
as seasoned investors who wish to speak to someone directly, RBC Direct
Investing has an award winning team of investment services
representatives available to respond to clients' account and trading
inquiries. For more information, please visit www.rbcdirectinvesting.com.
RBC Direct Investing is a member of The Canadian Investor Protection
Fund.
About RBC Global Asset Management
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 $290 billion in assets and have
approximately 1,000 employees located across Canada, the United States,
Europe and Asia.
SOURCE RBC
