RBC Global Asset Management (RBC GAM) has added a US dollar option to fifteen more of its funds, and has also launched the RBC Emerging Markets Foreign Exchange Fund.
RBC is now allowing investors to purchase another 15 of its funds in US currency, bringing its total number of US dollar funds up to 28. These funds are being offered in three series, namely Series A, the Advisor Series, and Series F, which is meant for fee-based advisors. The new US dollar purchase option applies to the:
- RBC Emerging Markets Bond Fund
- RBC Conservative Growth & Income Fund
- RBC Balanced Growth & Income Fund
- RBC Canadian Dividend Fund
- RBC International Equity Fund
- RBC Emerging Markets Equity Fund
- RBC Global Dividend Growth Fund
- RBC Global Equity Fund
- RBC Global Equity Focus Fund
- RBC QUBE Low Volatility Global Equity Fund
The management expense ratios (MERs) for the Series A and Advisor Series US dollar funds range between 1.85 and 1.40, while Series F MERs are between 0.85 and 0.65.
As for the RBC Emerging Markets Foreign Exchange Fund, it was launched on July 28. RBC says the fund is suitable for clients who are looking for low duration, income yielding investments to diversify their portfolios. It is managed by Dagmara Fijalkowski, head of Global Fixed Income and Currencies, and her team at RBC GAM.
"Many investors are looking for exposure to emerging markets, but do not have the risk appetite for emerging market equities or emerging market local-currency debt," says Fijalkowski. "We are pleased to offer a solution with an attractive yield and low duration, offering investors another tool for diversification when interest rates begin to rise."
The fund is being offered in Series A, the Advisor Series, and Series F; the MER for the first two series is 1.50, while it is 0.75 for the latter.