RBC Global Asset Management (RBC GAM-US) announced the addition of the RBC Short Duration Fixed Income Fund and the RBC Ultra-Short Fixed Income Fund to its mutual fund lineup, the latest in a series of recent launches geared toward the US retail advisory and institutional marketplaces.
The firm manages US$37.9 billion in fixed income assets for US investors, as of September 30, 2013.
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Mike Lee, CEO and CIO of RBC GAM-US, said: "For 30 years, our firm has managed short duration fixed income portfolios for institutional investors. We are pleased to now offer that depth of experience to our mutual fund shareholders."
The RBC Short Duration Fixed Income Fund seeks to achieve a high level of current income consistent with preservation of capital and strives to maintain a duration of three years or less.
The RBC Ultra-Short Fixed Income Fund also seeks to achieve a high level of current income consistent with capital preservation and will typically maintain an average weighted dollar maturity of 6 to 18 months.
Class I shares of the Funds are currently available to institutions and other U.S. investors with a minimum initial investment of US$10,000.
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By GlobalDataClass F shares of the funds are expected to be effective on or about March 3, 2014, and will be available through certain broker-dealer intermediaries with a minimum investment of US$10,000.
