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RBC gives ticker symbol for RBC Short Duration Fixed Income Fund
By Toni Weeks
San Luis Obispo, Calif., Dec. 20 - RBC Fixed Income Funds announced in an N-1A filing with the Securities and Exchange Commission the ticker symbol for its new investment-grade fund, the RBC Short Duration Fixed Income Fund.
The fund's class I shares will trade under the symbol "RSDIX."
As previously reported, the fund seeks a high level of current income consistent with preservation of capital. Under normal circumstances, it will invest at least 80% of its assets in fixed-income securities, including bonds, collateralized bond obligations, collateralized debt obligations, convertible securities, loan participations and assignments, money market securities, mortgage-related and asset-backed securities, municipal securities, notes, obligations of governments and their agencies, private placements and restricted securities. The fund may invest in securities with fixed-, floating- or variable-rate coupons. Up to 25% of the fund's net assets may be invested in high-yield securities.
The fund seeks to maintain a duration and average weighted dollar maturity of three years or less.
Brandon Swensen and Brian Svendahl will be the portfolio managers.
There will be no sales load or redemption fee. Including management fees of 0.3%, and taking into account the effects of a fee waiver agreement with the investment adviser, total annual fund operating expenses are expected to be 0.35%.
RBC also gave the ticker symbol for its new RBC Ultra-Short Fixed Income Fund, which will trade under the symbol "RUSIX." The shorter fund will have the same investment objective and strategy, but its average weighted dollar maturity will be six to 18 months.
Minneapolis-based RBC Global Asset Management (U.S.) Inc. is the investment adviser.
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