RBC iShares expands line-up of fixed income ETFs
RBC iShares has expanded its ETF lineup with the launch of two new RBC Target Maturity Corporate Bond funds.
The new fixed income ETFs, managed by RBC Global Asset Management Inc (RBC GAM Inc), have begun trading on the Toronto Stock Exchange.
RBC Target Maturity Corporate Bond ETFs represent a family of fixed income ETFs maturing in successive years from 2020 to 2027. Each RBC Target Maturity Corporate Bond ETF tracks a unique FTSE Maturity Corporate Bond Index that maintains a portfolio of Canadian investment grade corporate bonds structured to mature in the same calendar year as the RBC Target Maturity Corporate Bond ETF. When the RBC Target Maturity Corporate Bond ETF reaches the maturity date, its final net asset value is returned to the current unitholders.
"With the launch of these new ETFs, RBC iShares continues to deliver high quality fixed income solutions to meet the needs of Canadian advisors and investors," says Mark Neill, Head of RBC ETFs. "By adding to the suite of RBC Target Maturity Corporate Bond ETFs, we are further enhancing the ability of investors and advisors to tailor their bond laddering strategies to the maturity date of their choice."