This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:RBC Asset Management Inc. reduces the management expense ratio (MER) on the RBC Target 2010 Education Fund 2009-01-13 09:00 ET - News Release TORONTO, Jan. 13 /CNW/ - RBC Asset Management Inc. announced today that the management expense ratio (MER) for the RBC Target 2010 Education Fund will be reduced from 1.55 per cent to 1.00 per cent effective January 1, 2009. The RBC Target Education Funds gradually shift their asset mix from an emphasis on equity funds to drive growth in their early years to fixed income and money market funds as their target date approaches and capital preservation becomes key. The result is an asset mix that evolves over time, becoming more conservative as a child's target education date approaches. As each RBC Target Education Fund becomes more conservative, the MER for that fund is reduced to reflect the more conservative asset mix. There are no changes to the MERs for the RBC Target 2015, 2020 or 2025 Education Funds at this time. About RBC Global Asset Management and RBC Wealth Management RBC Global Asset Management comprises RBC Asset Management Inc. (RBC AM), Phillips, Hager & North Investment Management Ltd. (PH&N) in Canada and Voyageur Asset Management Inc. in the U.S. Combined, RBC AM and PH&N have $92 billion in IFIC-reported mutual fund assets under management and an additional $48 billion in other institutional and private client assets under management. RBC AM and PH&N received the Lipper Awards for "Best Overall Fund Group" and "Best Bond Family" in Canada respectively for the second consecutive year in 2008. The remainder is available to Stockwatch subscribers.
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