RBC Global Asset Management Inc. announces RBC Target 2025 Education Fund maturity date, changes to RBC U.S. small-cap equity funds, and risk rating changes Français
Maturity date of RBC Target 2025 Education Fund
On or about November 21, 2025, RBC Target 2025 Education Fund will have reached its maturity date and RBC GAM Inc. will terminate it accordingly. All outstanding units of RBC Target 2025 Education Fund will be cancelled on the maturity date and unitholders will receive units of RBC Canadian Money Market Fund in exchange. Unitholders will be sent a written notice regarding the termination of RBC Target 2025 Education Fund.
Changes to RBC U.S. Small-Cap Core Equity Fund and RBC U.S. Small-Cap Value Equity Fund
RBC Global Asset Management will close its U.S. small-cap core, U.S. small-cap value, U.S. microcap core, and U.S. microcap value investment strategies managed by RBC Global Asset Management (U.S.) Inc. in Boston. This decision is intended to better align its product offerings with evolving industry dynamics and client needs.
RBC GAM Inc. proposes to merge RBC U.S. Small-Cap Core Equity Fund and RBC U.S. Small-Cap Value Equity Fund (collectively, the "RBC U.S. Small-Cap Funds") into RBC U.S. Mid-Cap Value Equity Fund on or about November 21, 2025. These changes are subject to the approval of unitholders of the respective fund and other required approvals, including a positive recommendation from the Independent Review Committee of the RBC U.S. Small-Cap Funds. The proposed mergers are expected to be completed on a tax-deferred basis. Further details regarding the proposed mergers will be sent to unitholders of the RBC U.S. Small-Cap Funds in advance of the unitholder meeting.
Effective July 14, 2025, the RBC U.S. Small-Cap Funds will no longer be available for purchase by new investors. Only existing unitholders of the RBC U.S. Small-Cap Funds on July 14, 2025, can continue to make additional investments into the funds.
Risk rating changes
The risk rating for certain RBC Funds has changed. These changes will be reflected in the applicable Fund Facts as part of the renewal of the simplified prospectus for RBC Funds, which is expected to be filed on or around June 27, 2025.
These changes are based on the methodology mandated by the Canadian Securities Administrators to determine the risk level of mutual funds. RBC GAM Inc. reviews the risk rating for each fund on an annual basis, as well as when a fund undergoes a material change. These changes are the result of an annual review and not the result of any changes to the investment objectives, strategies or management of the funds.
Risk rating increase
Risk rating decrease
Please consult your advisor and read the prospectus or Fund Facts or ETF Facts document before investing. There may be commissions, trailing commissions, management fees and expenses associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. RBC Funds, BlueBay Funds and PH&N Funds are offered by RBC GAM Inc. and distributed through authorized dealers in Canada. RBC GAM Inc. is a member of the RBC GAM group of companies and an indirect wholly owned subsidiary of Royal Bank of Canada.
About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 97,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.
We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/peopleandplanet.
About RBC Global Asset Management
RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC). 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. RBC Funds, BlueBay Funds, PH&N Funds and RBC ETFs are offered by RBC Global Asset Management Inc. (RBC GAM Inc.) and distributed through authorized dealers in Canada. The RBC GAM group of companies, which includes RBC GAM Inc. (including PH&N Institutional) and RBC Indigo Asset Management Inc., manage approximately $693 billion in assets and have approximately 1,600 employees located across Canada, the United States, Europe and Asia.
SOURCE RBC Global Asset Management Inc.
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