TORONTO, April 5, 2021 /CNW/ – RBC World Asset Administration Inc. (“RBC GAM Inc.”) at this time introduced the closure of BlueBay $U.S. World Convertible Bond Fund (Canada), BlueBay $U.S. World Convertible Bond Class (Canada), and RBC World Bond & Foreign money Fund (collectively, “the Funds”) efficient June 25, 2021.
Unitholders might redeem or change their holdings within the Funds till market shut on June 23, 2021. Any remaining items will likely be redeemed and the proceeds distributed to unitholders.
Within the case of the Funds being held in registered plans, the redemption proceeds will stay inside the plan except unitholders instruct in any other case prematurely of market shut on June 23, 2021. There will likely be no tax implications because of the transactions if items are held in a registered plan.
If items of the Funds are held in a non-registered account, the closure of the Funds will likely be handled as a deemed disposition, and should lead to a taxable capital acquire or loss, relying on every unitholder’s particular person state of affairs.
Unitholders are inspired to contact their advisor to debate the closures and their funding choices.
Please seek the advice of your advisor and browse the prospectus or Fund Information doc earlier than investing. There could also be commissions, trailing commissions, administration charges and bills related to mutual fund investments. Mutual funds are usually not assured, their values change steadily and previous efficiency will not be repeated. RBC Funds, BlueBay Funds, PH&N Funds and RBC Company Class Funds are supplied by RBC GAM Inc. and distributed by means of licensed sellers in Canada. RBC GAM Inc. is a member of the RBC GAM group of corporations and an oblique wholly-owned subsidiary of Royal Financial institution of Canada.
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About RBC World Asset Administration
RBC Global Asset Management (RBC GAM) is the asset administration division of Royal Financial institution of Canada (RBC) and consists of cash managers BlueBay Asset Administration and Phillips, Hager & North Funding Administration. RBC GAM is a supplier of worldwide funding administration providers and options to institutional, high-net-worth and particular person buyers by means of separate accounts, pooled funds, mutual funds, hedge funds, exchange-traded funds and specialty funding methods. The RBC GAM group of corporations handle roughly $540 billion in property and have roughly 1,400 staff positioned throughout Canada, the USA, Europe and Asia.
SOURCE RBC World Asset Administration Inc.
For additional info: Brandon Dorey, RBC GAM Company Communications, 416-955-7397, [email protected]