Toronto-based RBC Global Asset Management Inc. (RBCGAM) has launched a lineup of retirement portfolios whose asset allocation is based on investors’ specific retirement dates.
Seven of the eight new RBC Retirement Portfolios are designed for investors who believe they will retire in one of the following years: 2020, 2025, 2030, 2035, 2040, 2045 and 2050.
The timeline determines the asset allocation within each product. For example, an RBC Retirement 2050 Portfolio has a lower allocation to equities, as the need for growth is balanced with the need to manage volatility expectations for investors in their early saving years, according to the firm’s website.
The exposure to equities is increased in RBC Retirement Portfolios 2045, 2040, 2035 and 2030, for investors in their peak earning years. RBC Retirement Portfolios 2025 and 2020 take on a decreased level of risk for investors who will likely see retirement within the next decade.
The final portfolio, RBC Retirement Income Solution, is designed for retirees who require a tax-efficient cash flow.
The portfolios are available in five different series. Further details on the series and fees surrounding the products are available through RBCGAM’s announcement.