RBC Asset Management Inc. today launched the RBC Canadian Diversified Income Trust Fund.

“At 10% of the S&P/TSX Composite Index, income trusts have grown to represent a significant part of the Canadian market, which we expect to continue to grow,” said Brenda Vince, president, RBC Asset Management Inc. “Currently at RBC Asset Management, we manage over $2 billion in income trust investments across our existing line-up of RBC Funds and RBC Private Pools. We’re pleased to now offer investors a specific solution that offers diversified exposure to income trusts, along with the benefits of experienced professional investment management.”

The new fund further expands the RBC line-up of income solutions for investors who are looking to maximize the cash flow they receive from their portfolio.

The fund is designed to provide a steady stream of tax-efficient monthly cash flow, with the monthly cash distribution currently set at 8¢ per unit. The Fund’s initial cash payout rate is 5.5% per annum, based on the $17.50 per unit launch price. The fund will invest primarily in a diversified portfolio of Canadian income trusts, including business trusts, royalty trusts, real estate trusts, and power and pipeline trusts.