RBC Global Asset Management Inc. (RBC GAM) Tuesday announced details regarding the maturity of the RBC Target 2015 Education Fund.

As of Jan. 1, 2015, the fund will be fully invested in the RBC Canadian Money Market Fund. In addition, on Mar/ 20, 2015, the fund will have reached its target date and RBC GAM will terminate the fund. All outstanding units of the RBC Target 2015 Education Fund will be cancelled on the termination date and unitholders will receive units of the RBC Canadian Money Market Fund in exchange.

“RBC Target Education Funds are an innovative approach to education savings,” said Doug Coulter, president of RBC GAM. “These solutions provide growth potential, up front, to help keep pace with the rising cost of education. As the target date approaches, each fund becomes more conservative, reducing both volatility and the potential for erosion of capital.”

As the asset mix of each RBC Target Education Fund becomes more conservative, the specified percentage for that fund will be reduced to reflect the more conservative asset mix. As of Jan. 1, 2015, investors in the RBC Target Education Funds will see a reduction in their specified percentages.

The specified percentage includes the fund’s management fee, administration fee, taxes (other than the additional cost of the HST), other fund costs and any fees and expenses of the underlying funds.