RBC Indigo renames fund units, reduces management fees, and introduces F Series units for investors
RBC Indigo Asset Management Inc. has announced several changes to its funds.
These changes include renaming the D Series and DT Series units, reducing management fees for certain funds, and introducing F Series units for RBC Indigo Pooled Funds and select RBC Indigo Mutual Funds.
Renaming of D Series and DT Series Units
Starting June 27, RBC Indigo will rename D Series units to F Series units and DT Series units to FT Series units.
These units will be available to investors with dealer-sponsored “fee-for-service” or “wrap” programs, as well as order execution only (OEO) accounts, including discount brokers and other accounts where suitability assessments are not made.
Management Fee Reduction
RBC Indigo will reduce management fees for the following funds effective June 27:
|
Fund
|
Series
|
Current
|
Management Fee
|
|---|---|---|---|
|
RBC Indigo Mortgage Fund
|
F
|
0.85%
|
0.68%
|
|
RBC Indigo Global Corporate Bond Fund
|
F
|
1.00%
|
0.75%
|
|
RBC Indigo Emerging Markets Debt Fund
|
F
|
1.00%
|
0.75%
|
|
RBC Indigo Monthly Income Fund
|
F/FT
|
0.75%
|
0.65%
|
|
RBC Indigo U.S. Dollar Monthly Income
|
F/FT
|
1.05%
|
0.78%
|
|
RBC Indigo Canadian Balanced Fund
|
F
|
0.90%
|
0.85%
|
|
RBC Indigo Dividend Fund
|
F
|
0.90%
|
0.75%
|
|
RBC Indigo Equity Fund
|
F
|
0.90%
|
0.75%
|
|
RBC Indigo Emerging Markets Fund
|
F
|
1.25%
|
1.13%
|
|
RBC Indigo Emerging Markets Fund II
|
F
|
1.25%
|
1.13%
|
|
RBC Indigo Chinese Equity Fund
|
F
|
1.25%
|
1.13%
|
|
RBC Indigo Indian Equity Fund
|
F
|
1.25%
|
1.13%
|
RBC Indigo regularly reviews its management fees.
Introduction of F Series Units
Around July 8, RBC Indigo will introduce F Series units for RBC Indigo Pooled Funds, RBC Indigo Index Funds, and the RBC Indigo Canadian Short/Mid Bond Fund.
These units will also be available to investors with dealer-sponsored “fee-for-service” or “wrap” programs and OEO accounts. The existing series units of RBC Indigo Pooled Funds will be renamed Pooled Series.
The new F Series units and their management fees are as follows:
|
Series
|
Series
|
Management Fee
|
|---|---|---|
|
RBC Indigo Canadian Short/Mid Bond Fund
|
F
|
0.50%
|
|
RBC Indigo Equity Index Fund
|
F
|
0.50%
|
|
RBC Indigo International Equity Index Fund
|
F
|
0.50%
|
|
RBC Indigo Emerging Markets Equity Index Fund
|
F
|
0.50%
|
|
RBC Indigo Canadian Money Market Pooled Fund
|
F
|
0.35%
|
|
RBC Indigo Canadian Bond Pooled Fund
|
F
|
0.50%
|
|
RBC Indigo Canadian Dividend Pooled Fund
|
F
|
0.75%
|
|
RBC Indigo Canadian Equity Pooled Fund
|
F
|
0.75%
|
|
RBC Indigo Canadian Small Cap Equity Pooled Fund
|
F
|
1.00%
|
|
RBC Indigo U.S. Equity Pooled Fund
|
F
|
1.00%
|
|
RBC Indigo International Equity Pooled Fund
|
F
|
1.00%
|
|
RBC Indigo Mortgage Pooled Fund
|
F
|
0.68%
|
|
RBC Indigo Global High Yield Bond Pooled Fund
|
F
|
0.75%
|
|
RBC Indigo Global Inflation Linked Bond Pooled Fund
|
F
|
0.68%
|
|
RBC Indigo Emerging Markets Pooled Fund
|
F
|
1%
|
|
RBC Indigo Emerging Markets Debt Pooled Fund
|
F
|
1%
|
|
RBC Indigo Global Real Estate Equity Pooled Fund
|
F
|
1%
|
Non-Resident Investors
Effective immediately, RBC Indigo will not accept purchase orders from non-residents of Canada, except on an exception basis. A non-resident includes anyone residing in or temporarily in a foreign country or those who are considered residents of a foreign country for tax purposes.
Clients who already hold units in RBC Indigo Mutual Funds and Pooled Funds and become non-residents can continue to hold their units.
However, RBC Indigo will not accept additional purchases, including pre-authorized contributions, from these clients. Redemptions, reinvestment of distributions, and switches between series of the same fund will still be allowed.
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