RBC GAM to close five ETFs

RBC Global Asset Management Inc. (RBC GAM) will be closing five ETFs as of Nov. 27.

The group of funds, which will be de-listed from the TSX on or about Nov. 25, includes: the RBC Strategic Global Dividend Leaders ETF, RBC Strategic Global Equity Leaders ETF, RBC Quant Global Infrastructure Leaders ETF (both the CAD and USD versions), RBC Quant Global Real Estate Leaders ETF (both the CAD and USD versions), and RBC 6-10 Year Laddered Canadian Corporate Bond ETF.

Before the funds are terminated, RBC GAM will convert as much of the funds’ assets to cash as possible. The proceeds will be used to cover liabilities and pay unitholders.

A spokesperson said Tuesday that the ETFs are being terminated due to “limited asset size” and growth potential, and because of duplication of investment strategy across the RBC iShares ETF lineup.

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