RBC plans to expand its ETF lineup in January 2014.
RBC wants to offer more actively managed traditional equity and bond funds, says National Bank Financial’s Pat Chiefalo, along with research associates Daniel Strauss and Ling Zhang, in a recent report.
RBC has requested regulatory permission to add three dividend funds to its lineup, they add. These products will offer exposure to Canada, the U.S. and EAFE (Europe, Australasia and the Far East). Bill Tilford, head of quantitative investments at RBC Global Asset Management, will actively manage the funds.
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The bank is also proposing a new laddered fund that will provide access to “short-term Canadian corporate bonds with one to five-year maturities. The ETF will hold five RBC Target Maturity Corporate Bond ETFs that are equally weighted. The fund will roll into a longer dated ETF at the beginning of each year and sell the nearest-term ETF holding,” says the report.
RBC entered the ETF market in 2011. Its nine existing products have gathered $190 million in assets.
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