TORONTO, March 29, 2024 /CNW/ - Effective today, upon the completion of the acquisition of HSBC Bank Canada ("HSBC Canada") by Royal Bank of Canada ("RBC"), HSBC Global Asset Management (Canada) Limited, HSBC Canada's asset management division, became a wholly-owned subsidiary of RBC and is renamed RBC Indigo Asset Management Inc. ("RBC Indigo"). In addition, effective today, all HSBC Mutual Funds and HSBC Pooled Funds managed by RBC Indigo will be referred to as RBC Indigo Mutual Funds and RBC Indigo Pooled Funds (collectively, the "RBC Indigo Funds" or the "Funds") and renamed. These name changes are set out below. In addition, changes to certain other RBC Indigo Funds are explained below.
RBC Indigo Strategic Funds (formerly known as HSBC Wealth Compass Funds) closed to new investors
Effective April 1, 2024, RBC Indigo Strategic Funds will be closed to new investors. Existing investors will continue to be able to add to their existing holdings.
Premium Series and Premium T Series of RBC Indigo Mutual Funds (formerly known as HSBC Mutual Funds) closed to new investors
Effective July 31, 2024, Premium Series and Premium T Series units of RBC Indigo Funds will be closed to new investors. Existing investors will continue to be able to add to their existing holdings. Furthermore, the Automatic Switch Program, pursuant to which Investor Series and Investor T Series units may be automatically reclassified to Premium Series and Premium T Series of the same Fund, respectively, depending on the market value of an investor's units on the last business day of every month, will discontinue effective August 1, 2024.
Fund name changes
Effective March 29, 2024, the Funds are renamed as follows:
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Current Name
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New Name
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HSBC Mutual Funds
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RBC Indigo Mutual Funds
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HSBC Canadian Money Market Fund
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RBC Indigo Canadian Money Market Fund
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HSBC U.S. Dollar Money Market Fund
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RBC Indigo U.S. Dollar Money Market Fund
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HSBC Mortgage Fund
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RBC Indigo Mortgage Fund
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HSBC Canadian Short/Mid Bond Fund
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RBC Indigo Canadian Short/Mid Bond Fund
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HSBC Canadian Bond Fund
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RBC Indigo Canadian Bond Fund
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HSBC Global Corporate Bond Fund
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RBC Indigo Global Corporate Bond Fund
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HSBC Emerging Markets Debt Fund
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RBC Indigo Emerging Markets Debt Fund
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HSBC Monthly Income Fund
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RBC Indigo Monthly Income Fund
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HSBC U.S. Dollar Monthly Income Fund
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RBC Indigo U.S. Dollar Monthly Income Fund
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HSBC Canadian Balanced Fund
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RBC Indigo Canadian Balanced Fund
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HSBC Dividend Fund
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RBC Indigo Dividend Fund
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HSBC Equity Fund
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RBC Indigo Equity Fund
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HSBC Small Cap Growth Fund
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RBC Indigo Small Cap Growth Fund
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HSBC Global Equity Fund
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RBC Indigo Global Equity Fund
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HSBC Global Equity Volatility Focused Fund
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RBC Indigo Global Equity Volatility Focused Fund
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HSBC U.S. Equity Fund
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RBC Indigo U.S. Equity Fund
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HSBC European Fund
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RBC Indigo European Fund
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HSBC AsiaPacific Fund
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RBC Indigo AsiaPacific Fund
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HSBC Chinese Equity Fund
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RBC Indigo Chinese Equity Fund
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HSBC Indian Equity Fund
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RBC Indigo Indian Equity Fund
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HSBC Emerging Markets Fund
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RBC Indigo Emerging Markets Fund
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HSBC Emerging Markets Fund II
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RBC Indigo Emerging Markets Fund II
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HSBC U.S. Equity Index Fund
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RBC Indigo U.S. Equity Index Fund
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HSBC International Equity Index Fund
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RBC Indigo International Equity Index Fund
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HSBC Emerging Markets Equity Index Fund
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RBC Indigo Emerging Markets Equity Index Fund
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HSBC World Selection® Diversified Funds
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RBC Indigo Diversified Funds
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HSBC World Selection Diversified Conservative Fund
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RBC Indigo Diversified Conservative Fund
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HSBC World Selection Diversified Moderate Conservative Fund
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RBC Indigo Diversified Moderate Conservative Fund
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HSBC World Selection Diversified Balanced Fund
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RBC Indigo Diversified Balanced Fund
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HSBC World Selection Diversified Growth Fund
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RBC Indigo Diversified Growth Fund
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HSBC World Selection Diversified Aggressive Growth Fund
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RBC Indigo Diversified Aggressive Growth Fund
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HSBCWealthCompassTMFunds
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RBC Indigo Strategic Funds
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HSBC Wealth Compass Conservative Fund
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RBC Indigo Strategic Conservative Fund
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HSBC Wealth Compass Moderate Conservative Fund
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RBC Indigo Strategic Moderate Conservative Fund
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HSBC Wealth Compass Balanced Fund
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RBC Indigo Strategic Balanced Fund
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HSBC Wealth Compass Growth Fund
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RBC Indigo Strategic Growth Fund
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HSBC Wealth Compass Aggressive Growth Fund
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RBC Indigo Strategic Aggressive Growth Fund
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HSBC Pooled Funds
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RBC Indigo Pooled Funds
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HSBC Canadian Money Market Pooled Fund
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RBC Indigo Canadian Money Market Pooled Fund
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HSBC Mortgage Pooled Fund
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RBC Indigo Mortgage Pooled Fund
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HSBC Canadian Bond Pooled Fund
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RBC Indigo Canadian Bond Pooled Fund
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HSBC Global High Yield Bond Pooled Fund
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RBC Indigo Global High Yield Bond Pooled Fund
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HSBC Global Inflation Linked Bond Pooled Fund
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RBC Indigo Global Inflation Linked Bond Pooled Fund
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HSBC Emerging Markets Debt Pooled Fund
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RBC Indigo Emerging Markets Debt Pooled Fund
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HSBC Canadian Dividend Pooled Fund
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RBC Indigo Canadian Dividend Pooled Fund
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HSBC Canadian Equity Pooled Fund
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RBC Indigo Canadian Equity Pooled Fund
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HSBC Canadian Small Cap Equity Pooled Fund
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RBC Indigo Canadian Small Cap Equity Pooled Fund
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HSBC U.S. Equity Pooled Fund
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RBC Indigo U.S. Equity Pooled Fund
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HSBC International Equity Pooled Fund
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RBC Indigo International Equity Pooled Fund
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HSBC Emerging Markets Pooled Fund
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RBC Indigo Emerging Markets Pooled Fund
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HSBC Global Real Estate Equity Pooled Fund
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RBC Indigo Global Real Estate Equity Pooled Fund
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Additional information regarding these changes and certain related changes affecting RBC Indigo will be set out in an Amended and Restated Simplified Prospectus of the RBC Indigo Funds dated March 31, 2024, amending and restating the Simplified Prospectus dated June 27, 2023, as well as updated Fund Facts for the Funds dated March 31, 2024, which will be available at rbcindigo.com or at sedarplus.ca.
Please consult your advisor and read the prospectus or Fund Facts document before investing. There may be commissions, trailing commissions, management fees and expenses associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. RBC Indigo Funds are offered by RBC Indigo and distributed through authorized dealers in Canada. RBC Indigo is a member of the RBC GAM group of companies and a 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 United States 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, Phillips, Hager & North Investment Management and RBC Indigo Asset Management Inc. 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.
The trade mark(s) ®World Selection, HSBC Wealth Compass™ and all similar trademarks and derivations thereof are used temporarily under licence by HSBC Overseas Holdings (UK) Limited to Royal Bank of Canada and related group entities.
SOURCE RBC Global Asset Management Inc.
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