RBC Global Asset Management Inc. Wednesday announced the expansion of its suite of Target Maturity Corporate Bond Exchange Traded Funds (ETFs).
Effective immediately, the RBC Target 2021 Corporate Bond Index ETF (TSX: RQI) is available for purchase by individual and institutional investors on the Toronto Stock Exchange.
“Since the onset of the financial crisis in 2008, it has become more challenging for investors to manage and source quality corporate bonds across different maturities,” says Mark Neill, head of RBC ETFs. The new fund is intended to help investors address that challenge.
The new ETF will maintain a diversified portfolio of individual Canadian investment grade corporate bonds, with an effective maturity of November 2021. Similar to the other eight RBC Target Maturity Corporate Bond ETFs, this ETF is designed to act like an individual bond while providing the diversification and professional oversight of a mutual fund, with the transparency and intra-day liquidity of an ETF.