The management expense ratio (MER) for RBC Target 2010 Education Fund was reduced from 1.55% to 1% effective Jan. 1, RBC Asset Management Inc. said Tuesday.

The RBC Target Education Funds gradually shift their asset mix from an emphasis on equity funds to drive growth in their early years to fixed income and money market funds as their target date approaches and capital preservation becomes key, explains RBC AM.

The result is an asset mix that evolves over time, becoming more conservative as a child’s target education date approaches. As each RBC Target Education Fund becomes more conservative, the MER for that fund is reduced to reflect the more conservative asset mix.

There are no changes to the MERs for the RBC Target 2015, 2020 or 2025 Education Funds at this time.