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Final valuation of RBC Target 2013 Corporate Bond Index ETF


RBC Global Asset Management has announced the final valuation of the RBC Target 2013 Corporate Bond Index ETF (RQA).

As announced earlier this year, the RBC Target 2013 Corporate Bond Index ETF was scheduled to mature effective the close of business on 22 November. The final net asset value (NAV) per unit of the ETF is USD18.9272.
The maturity proceeds will be paid out of the ETF today to the holders of the remaining outstanding units of the ETF on a pro rata basis.
The suite of RBC Target Maturity Corporate Bond ETFs includes eight corporate bond ETFs with maturities spanning from 2014 to 2021. These ETFs provide targeted maturity exposure, enabling investors to build customised fixed income portfolios tailored to specific investment needs.
Unlike traditional ETFs, which have a perpetual life, target-maturity ETFs have a specified maturity date established when the ETF is launched. When the ETF reaches the maturity date, the ETF's final net asset value is returned to the current unitholders.
A target maturity ETF's portfolio contains fixed income securities that mature throughout its stated maturity year. This structure results in a duration profile similar to that of an individual bond, where the duration of the ETF should decline as it approaches maturity, reducing sensitivity to interest rate changes. These target maturity ETFs do not seek to return any predetermined amount at maturity.

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