TORONTO, Feb. 20, 2024 /CNW/ - RBC iShares intends to expand its suite of RBC Target Maturity Bond ETFs with the filing by RBC Global Asset Management Inc. ("RBC GAM Inc.") (on February 16, 2024) of a Preliminary Prospectus (the "Preliminary Prospectus") with the securities regulatory authority in each province and territory of Canada for six new RBC Target Maturity U.S. Corporate Bond ETFs, as well as an additional RBC Target Maturity Canadian Government Bond ETF and an additional RBC Target Maturity Canadian Corporate Bond Index ETF. The new RBC ETFs will be managed by RBC GAM Inc.
New RBC Target Maturity U.S. Corporate Bond ETF suite
The RBC Target Maturity U.S. Corporate Bond ETFs will have maturities ranging from 2025 through 2030 and will complement the existing suites of RBC Target Maturity Canadian Government Bond ETFs and RBC Target Maturity Canadian Corporate Bond Index ETFs.
The investment objective of each RBC Target Maturity U.S. Corporate Bond ETF will be to provide income, for a limited period of time ending on the respective RBC Target Maturity U.S. Corporate Bond ETF's Termination Date (defined as on or about September 30 of its applicable maturity year), by investing primarily in a portfolio of investment-grade fixed income securities issued in the U.S. market by U.S. and foreign corporations that mature in the same calendar year as the RBC Target Maturity U.S. Corporate Bond ETF's Termination Date. Each RBC Target Maturity U.S. Corporate Bond ETF will terminate on its Termination Date.
In addition, the Preliminary Prospectus includes the addition of RBC Target 2030 Canadian Government Bond ETF and RBC Target 2030 Canadian Corporate Bond Index ETF, extending the available maturities of the RBC Target Maturity Canadian Government Bond ETF suite and the RBC Target Maturity Canadian Corporate Bond Index ETF suite, respectively.
For more information about RBC iShares, please visit https://www.rbcishares.com.
A preliminary and pro forma prospectus for the RBC ETFs dated February 16, 2024 (the "Preliminary Prospectus") has been filed with the securities regulatory authority in each of the provinces and territories of Canada. The Preliminary Prospectus contains important information and is still subject to completion or change. The Preliminary Prospectus is available on SEDAR+ at www.sedarplus.ca. This press release is for information purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein. No securities regulatory authority has either approved or disapproved the contents of this press release. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
RBC iShares are comprised of RBC ETFs managed by RBC Global Asset Management Inc. and iShares ETFs managed by BlackRock Asset Management Canada Limited. Commissions, management fees and expenses all may be associated with investments in exchange-traded funds ("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 GAM Inc., a member of the RBC GAM group of companies and 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 94,000+ employees who leverage their imaginations and insights to 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 27 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 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 $575 billion in assets and have approximately 1,500 employees located across Canada, the United States, Europe and Asia.
About BlackRock
BlackRock's purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter: @BlackRockCA
About iShares
iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, a global line-up of 1400+ exchange traded funds (ETFs) and US$3.5 trillion in assets under management as of December 31, 2023, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock.
iShares® ETFs are managed by BlackRock Asset Management Canada Limited
SOURCE RBC Global Asset Management Inc.
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