RBC Asset Management makes the cost of investing in its portfolio products more predictable
RBC Asset Management Inc. (RBC AM) today announced that it will change the way it calculates the Management Expense Ratios (MERs) for the RBC Select Portfolios, the RBC Select Choices Portfolios, the RBC Cash Flow Portfolios and the RBC Target Education Funds (collectively the “portfolios”), making the costs of investing more predictable for investors.
Beginning January 1, 2008, RBC AM will fix the MER for each of the portfolios. By fixing the MER for each portfolio, changes in the mix of underlying funds held by the portfolio will no longer impact the MER. The MER for each series of units of the portfolios will be more predictable going forward. The fixed MER will include all fees and expenses (including the fixed administration fee) paid by the portfolio.
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