The funds will be closed to new purchases effective end of day 20 June 2011, said RBC Global Asset Management.
According to RBC Global Asset Management, the funds’ low levels of assets have presented challenges to maintain the funds’ integrity going forward.
Unitholders may redeem or switch their holdings in each of the funds until 27 June 2011, at which time any remaining units will be automatically redeemed.
In the case of registered plans or tax-free savings accounts, the redemption proceeds will remain with the plan or account, said the company.
