TORONTO, April 5, 2019 /CNW/ - RBC Global Asset Management
Inc. today announced the exchange ratios for five RBC ETFs that
will be merged with certain corresponding iShares ETFs.
As announced on March 22, 2019,
unitholders approved a proposal to merge certain RBC ETFs (as set
forth in the table below) with a corresponding iShares ETF
effective on or about April 8, 2019.
The RBC International Equity Index ETF will merge with the
corresponding iShares ETF on or about April
9, 2019. The mergers have also received regulatory approval.
Each of the merging RBC ETFs will be wound up following the
mergers.
The exchange ratio determines the number of units of the
continuing iShares ETFs existing unitholders will receive for each
unit they hold of the applicable merging RBC ETF. The exchange
ratio was calculated based on the relative net asset value of both
the merging RBC ETFs and continuing iShares ETFs as of market close
today, April 5, 2019.
Merging RBC
ETF
|
Continuing iShares
ETF
|
Exchange
Ratio
|
RBC Canadian Short
Term Bond Index ETF (RCSB)
|
iShares Core Canadian
Short Term Bond Index ETF (XSB)
|
0.728271
|
RBC Canadian Bond
Index ETF (RCUB)
|
iShares Core Canadian
Universe Bond Index ETF (XBB)
|
0.653893
|
RBC Canadian Equity
Index ETF (RCAN)
|
iShares Core
S&P/TSX Capped Composite Index ETF (XIC)
|
0.832915
|
RBC U.S. Equity Index
ETF (RUSA)
|
iShares Core S&P
500 Index ETF (XUS)
|
0.526564
|
RBC International
Equity Index ETF (RINT)
|
iShares Core MSCI
EAFE IMI Index ETF (XEF)
|
0.696232
|
Unitholders of the merging RBC ETFs are not required to take any
action in order to become unitholders of the continuing iShares
ETFs.
In addition, units of the merging RBC ETFs (except for the RBC
International Equity Index ETF) have been delisted from the NEO
Exchange as of market close today, April 5,
2019. The RBC International Equity Index ETF is expected to
be delisted from the NEO Exchange as of market close on
April 8, 2019.
Details of the previously announced mergers are outlined in the
management information circular dated February 15, 2019 which is available at
www.sedar.com.
For further information regarding RBC ETFs, please visit
https://www.rbcishares.com.
Commissions, management fees and expenses all may be associated
with investments in exchange-traded funds (ETFs). Please read the
applicable prospectus or ETF Facts document before investing. ETFs
are not guaranteed, their values change frequently and past
performance may not be repeated. ETF units are bought and sold at
market price on a stock exchange and brokerage commissions will
reduce returns. RBC ETFs do not seek to return any predetermined
amount at maturity. Index returns do not represent RBC ETF returns.
RBC ETFs are managed by RBC GAM Inc., a member of the RBC GAM group
of companies and an indirect wholly-owned subsidiary of Royal Bank
of Canada.
About RBC Global Asset Management
RBC Global Asset
Management (RBC GAM) is the asset management division of Royal
Bank of Canada (RBC) and includes
institutional money managers BlueBay Asset Management and Phillips,
Hager & North Investment Management. RBC GAM is a provider of
global investment management services and solutions to
institutional, high-net-worth and individual investors through
separate accounts, pooled funds, mutual funds, hedge funds,
exchange-traded funds and specialty investment strategies. The RBC
GAM group of companies manage approximately $430 billion in assets and have approximately
1,400 employees located across Canada, the United
States, Europe and
Asia.
About BlackRock
BlackRock Canada is a wholly-owned
subsidiary of BlackRock, Inc., BlackRock, Inc. helps investors
build better financial futures. As a fiduciary to its clients,
BlackRock, Inc. provides the investment and technology solutions
investors need when planning for their most important goals. As of
December 31, 2018, the firm managed
approximately US$5.98 trillion in
assets on behalf of investors worldwide. BlackRock, Inc., together
with its worldwide affiliates, is the world's largest ETF provider
by assets under management as of September
30, 2018 (source: BlackRock, Inc.). For additional
information on BlackRock, Inc., please visit www.blackrock.com
About iShares
iShares unlocks opportunity across
markets to meet the evolving needs of investors. With more than
twenty years of experience, a global line-up of 800+ exchange
traded funds (ETFs) and US$1.8
trillion in assets under management as of December 31, 2018. iShares continues to drive
progress for the financial industry. iShares funds are powered by
the expert portfolio and risk management of BlackRock, Inc.,
trusted to manage more money than any other investment firm.
iSHARES is a registered trademark of BlackRock Inc., or its
subsidiaries in the United States
and elsewhere. Used under licence.
SOURCE RBC Global Asset Management