RBC Global Asset Management Inc. announces maturity date of RBC Target 2015 Corporate Bond Index ETF

TORONTO, March 16, 2015 /CNW/ - RBC Global Asset Management Inc. (RBC GAM) today announced that the RBC Target 2015 Corporate Bond Index ETF (TSX: RQC) will mature on Friday, November 20, 2015.

Launched in 2011, the RBC suite of Target Maturity Corporate Bond ETFs consists of seven target maturity ETFs with maturities ranging from 2015 to 2021. Unlike traditional ETFs, which have a perpetual life, target maturity ETFs have a specified maturity date that is established when the ETF is launched. When the ETF reaches the maturity date, the ETF's final net asset value (NAV) is returned to the current unitholders.

A target maturity ETF's portfolio contains securities that mature throughout its stated maturity year. This structure results in a duration profile similar to that of an individual bond, where the ETF's duration can be expected to decline as it approaches maturity, reducing sensitivity to interest rate changes. These ETFs do not seek to return any predetermined amount at maturity.

For further information regarding RBC ETFs, please visit www.rbcgam.com/etfs.

About RBC Global Asset Management and RBC Wealth Management
RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC), and includes institutional money managers BlueBay Asset Management and Phillips, Hager & North Investment Management. RBC GAM is a provider of global investment management services and solutions to individual, high-net-worth and institutional investors through mutual funds, exchange-traded funds, hedge funds, pooled funds, separate accounts and specialty investment strategies. RBC GAM group of companies manage more than $370 billion and have approximately 1,200 employees located across Canada, the United States, Europe and Asia.

RBC GAM is part of RBC Wealth Management, which is one of the world's top five largest wealth managers*. RBC Wealth Management directly serves affluent, high-net-worth and ultra-high net worth clients globally with a full suite of banking, investment, trust and other wealth management solutions, from our key operational hubs in Canada, the United States, the British Isles, and Asia. The business also provides asset management products and services directly and through RBC and third party distributors to institutional and individual clients, through its RBC GAM business. RBC Wealth Management has more than C$767 billion of assets under administration, more than C$480 billion of assets under management and approximately 4,400 financial consultants, advisors, private bankers, and trust officers. For more information, please visit www.rbcwealthmanagement.com.

*Scorpio Partnership Global Private Banking KPI Benchmark 2014. In the United States, securities are offered through RBC Wealth Management, a division of RBC Capital Markets, LLC, a wholly owned subsidiary of Royal Bank of Canada. Member NYSE/FINRA/SIPC.

SOURCE RBC