RBC Direct Investing clients to benefit from new tailor-made mutual fund pricing option
RBC announced today that its online investing business, RBC Direct Investing, will offer certain RBC Funds with a new lower-priced option for do-it-yourself investors. A preliminary prospectus filed by RBC Asset Management yesterday indicated that over forty RBC Funds will be available exclusively at RBC Direct Investing in a new Series D. Series D units will be for investors who want to include managed money as part of their portfolios but do the investment research and decision-making themselves. The management fees of Series D units will range from 0.60 per cent to 1.25 per cent and investors must purchase a minimum of $10,000 in each fund. Series D represents the first mutual fund fee structure in Canada from a major fund company that is tailor-made for the self-directed investor.
“We’re excited to be at the forefront of this new move in self-directed investing,” said Doug Coulter, president and CEO, RBC Direct Investing. “This pricing option should make RBC Funds, already some of the industry’s most competitive mutual funds, even more attractive for investors who choose to manage their own portfolios.”
“As a leading provider of mutual funds in Canada, we are pleased to be in a position where we can offer a pricing option that is better suited to the self-directed environment,” said Brenda Vince, president, RBC Asset Management Inc. “We strive to continuously improve the value, choice and transparency that we deliver to our investors, regardless of how they choose to invest.”
Series D units will be available on or about July 3, 2007. For a list of RBC Funds that will offer Series D units, along with the corresponding management fees, please visit www.rbcdirectinvesting.com/seriesd.
A preliminary simplified prospectus relating to Series D units of the RBC Funds has been filed with Canadian securities commissions or similar authorities. Purchasing Series D units of the RBC Funds cannot commence until the relevant securities commissions or similar authorities issue receipts for the simplified prospectus.
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