Toronto-based RBC Global Asset Management Inc. (RBC GAM) announced on Wednesday that it will be making changes to two mutual funds in its lineup.
RBC GAM is proposing a change to the investment objectives of RBC Advisor Canadian Bond Fund and RBC Canadian Government Bond Index Fund.
Under the proposed investment objective, the firm’s statement says, there would be “flexibility to track the performance of the FTSE TMX Canada universe + maple bond index,” which can either be done by investing in fixed-income securities or other mutual-fund units.
If passed, RBC Advisor Canadian Bond Fund would be renamed RBC Canadian Bond Index Fund.
In addition, RBC GAM is also amending previously announced plans for RBC Canadian Government Bond Index Fund. It no longer intends to change its benchmark, which will still be tied to the FTSE TMX Canada federal bond index.
A unitholder meeting will be convened on or about June 22 to secure approval for changes to the RBC Advisor Canadian Bond Fund. All proposed changes are expected to kick in sometime around June 30.