TORONTO, March 15, 2016 /CNW/ - RBC Global Asset Management Inc. today announced that the RBC Target 2016 Corporate Bond Index ETF (TSX: RQD) will mature on Friday, November 18, 2016.

Unlike traditional 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 2016 to 2021.

For further information regarding RBC ETFs, please visit www.rbcgam.com/etfs.

Commissions, management fees and expenses all may be associated with investments in exchange-traded funds (ETF). Please read the applicable prospectus 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 Global Asset Management

RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) and includes 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 more than $380 billion in assets and have approximately 1,300 employees located across Canada, the United States, Europe and Asia.

SOURCE RBC