TORONTO, Sept. 18, 2024 /CNW/ - RBC iShares today announced the launch of two new ETF Series of RBC Funds ("ETF Series") which are managed by RBC Global Asset Management Inc. ("RBC GAM Inc."). The two new ETF Series are expected to begin trading on Cboe Canada today.
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Fund
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Ticker Symbol
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Management Fee
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RBC Life Science and Technology Fund – ETF Series
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RLST
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0.75 %
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RBC U.S. Mid-Cap Growth Equity Fund – ETF Series
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RUMG
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0.75 %
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RBC Life Science and Technology Fund – ETF Series aims to provide investors with long-term capital growth by investing primarily in equity securities of U.S. companies whose businesses relate to life sciences and technology.
RBC U.S. Mid-Cap Growth Equity Fund – ETF Series aims to provide investors with long-term capital growth by investing primarily in equity securities of U.S. mid-cap companies.
The two new ETF Series provide Canadian ETF investors with access to funds managed by RBC Global Asset Management's North American Equity team, who currently manage over $80 billion in assets.
"Canadian advisors and investors are faced with many decisions and challenges when building well-balanced, diversified investment portfolios," said Mark Neill, managing director and head of RBC ETFs and Strategic Alliances, RBC Global Asset Management Inc. "Increasingly, they are turning to active ETFs to help address some of these challenges, such as home country bias, mega-cap concentration and an uncertain economic environment. By launching these two new ETF Series of RBC Funds, we are providing Canadian ETF investors with access to two of RBC GAM Inc.'s U.S.-focused funds managed by an experienced team of investment professionals."
RBC iShares aims to help clients achieve their investment objectives by empowering them to build efficient portfolios and take control of their financial futures. RBC iShares is committed to delivering a truly differentiated ETF experience and positive outcomes for clients.
For further information regarding RBC iShares ETFs, please visit www.rbcgam.com/etfsolutions.
RBC iShares ETFs are comprised of RBC ETFs and ETF Series of RBC Funds 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 mutual funds and exchange-traded funds ("ETFs"). Please consult your advisor and read the applicable ETF Facts and prospectus before investing. Mutual funds and ETFs are not guaranteed, their values change frequently and past performance may not be repeated. ETF Series is a class of securities offered by a conventional mutual fund however, unlike conventional mutual fund series, ETF Series are bought and sold at market price on a stock exchange like an ETF. Brokerage commissions will reduce returns. RBC Funds are managed by RBC Global Asset Management Inc., which is 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 100,000+ 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 more than 18 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/peopleandplanet.
About RBC Global Asset Management
RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC). 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. RBC Funds, RBC ETFs, BlueBay Funds and PH&N Funds are offered by RBC Global Asset Management Inc. (RBC GAM Inc.) and distributed through authorized dealers in Canada. The RBC GAM group of companies, which includes RBC GAM Inc. (including PH&N Institutional) and RBC Indigo Asset Management Inc., manage approximately $660 billion in assets and have approximately 1,600 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$3.86 trillion in assets under management as of June 30, 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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