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RBC Funds Trust to close its U.S. Long Corporate Bond Fund, two others
By Toni Weeks
San Diego, Sept. 14 - The board of trustees of RBC Funds Trust approved the liquidation of the RBC U.S. Long Corporate Bond Fund, according to a 497 filing with the Securities and Exchange Commission. The liquidation will occur Sept. 28.
The board also announced it has decided to close the RBC U.S. Investment Grade Corporate Fund and the RBC U.S. High Yield Corporate Fund.
The decision was made after considering the funds' operations, asset size and current expenses, the filing noted.
Minneapolis-based RBC GAM (U.S.), a wholly owned subsidiary of RBC Capital Markets Holdings (USA) Inc., serves as the funds' investment adviser.
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