RBC Global Asset Management (RBC GAM) has launched Class R6 shares across six mutual funds.
Class R6 shares are intended to provide a greater level of fee transparency to investors in the retirement plan marketplace, particularly compared to institutional share classes.
"It is likely that most defined contribution plans will eventually move to the Class R6 share structure and as such, we are pleased to offer institutional pricing within a registered investment vehicle," says Matthew Appelstein, head of sales and distribution for RBC GAM. "Providing low cost options and transparency is top of mind for our clients and this addition reflects RBC Global Asset Management's continued commitment to providing for them and their retirement needs."
The Class R6 shares will not pay any form of intermediary compensation, such as shareholder servicing or sub-transfer agency fees for services provided to the accounts (in the defined contribution channel, these fees are commonly referred to as revenue sharing).